The FSCS has declared Hastings & Rother Credit Union Limited (trading as 1066 Community Bank) in default. The FSCS expects the total compensation for members of the credit union to be over £387,000. Founded in 1999, the credit union was based in Hastings and acted as a financial cooperative, offering its members financial security through […]
Regulators turn up the volume on calls for AI guardrails as the technology spreads across wealth management
Secretary of the Commonwealth William F. Galvin says a probe into how firms are using AI isn’t a condemnation of the tech but an acknowledgement of its potential impact.
CISI reprimanded for data breach
The Chartered Institute for Securities & Investment has been reprimanded by the Information Commissioner’s Office (ICO) following a data breach on 17 February 2020. The reprimand to the CISI was issued in February this year following a third party forensic investigation instructed by the CISI. The CISI reported the breach to the ICO on 16 […]
6 tips for advisors to help clients plan around gray divorce
Divorce is going up for older couples, who make up the majority of clients in wealth management. Experts from across the industry share how to help.
Is AI coming for wealth managers’ jobs? Not yet, research shows
Artificial intelligence has come a long way. But when it comes to financial advice, studies show clients still prefer the human touch.
Envestnet CEO says the gap between his firm and the competition is growing
The company that provides services to 107,000 advisors posted financial results that meet estimates without breaking new ground.
Base rate rises 25 basis points to 5.25%
The Bank of England today increased its base rate by 25 basis points to 5.25%, the highest level seen in 15 years. The move follows last month’s shock increase of 50 basis points to 5%, which was twice the increase expected. The rise is seen as part of the Bank of England’s increasingly challenging battle […]
CI Private Wealth rebrands to play up bespoke client offerings
Canadian CI Financial, in rebranding its U.S. wealth business, joins several other industry firms that recently played the renaming game.
Goldman loses another partner in spate of recent wealth management departures
Lisa Opoku follows Julian Salisbury out the door of the Wall Street stalwart.
Liverpool’s Millen Capital team to join Evelyn
The team behind North West wealth manager Millen Capital are to join Financial Planner and wealth manager Evelyn Partners. Evelyn says the deal, which will see the team join the Liverpool office, will spur expansion in the North West. The acquisition of Millen’s assets and staff is the 10th deal of its kind undertaken by […]