Financial Planning and investment group Tavistock Investments has acquired a 21% stake in retirement-focused financial adviser LEBC from the founder’s widow for £10m. LEBC has struggled since the unexpected death of its CEO and founder, Chartered Financial Planner Jack McVitie, 57, in 2020 after a short illness. LEBC reported a loss last year of £232,000. […]
Archives for January 2022
Raymond James, RBC, Hightower, plus recruiting roundups and SEC charges
Merrill Lynch to settle its part in Jay Peak ‘tragedy’ for $4.5M
Weekend Reading for Financial Planners (Jan 8-9)
Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with a study showing that private equity firms are targeting financial advisory firms with relatively clean disciplinary records for acquisitions, but that once acquired, advisor misconduct at these firms skyrockets an average of 147%! The reason for this jump […]
No jab, no job: Citigroup prepares to terminate unvaccinated employees
FCA takes brothers to court over false claims
The Financial Conduct Authority has launched criminal proceedings against two brothers who allegedly dishonestly claimed their firm was authorised. The brothers, Peter and Andrew Currie, were the former directors of Collateral (UK) Ltd (Collateral), a peer to peer lending company. The brothers each face two charges under the Fraud Act 2006 and one charge under […]
Editor’s Column: The Planning express needs to avoid derailment
First things first: Happy New Year. I hope it’s a good one for you, your business and your clients. Times remain challenging (how many times have I written that) but a New Year brings new hope and plenty of potential for Financial Planning, indeed the prospects for Financial Planners are promising. The obvious immediate […]
John Moret: Recent FOS rulings on SIPPs ‘concerning’
I have written before about my concerns about the way the Financial Ombudsman Service is reaching decisions in cases involving SIPPs and SIPP investments and the implications for SIPP providers and advisers. I feel obliged to return to the subject having read the FOS determination in the case of Mr I and bdhSterling Limited (case […]
John Moret: Recent FOS rulings on SIPPs ‘concerning’
I have written before about my concerns about the way the Financial Ombudsman Service is reaching decisions in cases involving SIPPs and SIPP investments and the implications for SIPP providers and advisers. I feel obliged to return to the subject having read the FOS determination in the case of Mr I and bdhSterling Limited (case […]
FSCS declares SIPP-linked firm in default as claims mount
The Financial Services Compensation Scheme has declared a Nottingham-based wealth manager in default amid a flood of claims, many relating to SIPPs transfers. The FSCS told Financial Planning Today that so far it has received 31 claims against Hamilton Rose Wealth Management Ltd which also traded as Athena Wealth and theisaexpert.co.uk. Just one claim has […]