The FCA has restricted Campbell & Associates Independent Financial Advice Ltd of Hants after concerns about £1.5m in client funds being potentially ‘misappropriated’. The restrictions prevent the firm (FRN 602550) from carrying out any regulated activities. The firm, based in West Wellow near Southampton, has also been restricted from accessing its assets due to FCA […]
DFM launches free Consumer Duty kit for advisers
Discretionary fund manager Copia Capital Management has launched a free online Consumer Duty Toolkit for adviser firms. The aim is to help advice firms comply with the new legislation and implement it in the “most effective manner possible”, the company said. The pack includes written guides, videos, templates and webinars, with additional material being […]
Public ‘scarlet letter’ awaits sketchy brokerages flagged by FINRA
How the hunger for alts creates hurdles, with Cliff Corso of Advisors Asset Management
FSCS declares 13 firms in default
The government-backed Financial Services Compensation Scheme (FSCS) has today declared 13 firms in default – most of them adviser businesses – opening the door to clients claiming compensation. Some of the firms have been involved in pension transfer advice, including BSPS cases. Many of the firms are financial advisers, wealth managers and a small number […]
42% struggling financially but signs of easing
Nearly 23m adults (42%) say the cost of living crisis has caused them to struggle financially, according to a new survey. Despite the challenges, the survey from the LV= Wealth and Wellbeing Research Programme suggests finances are beginning to stabilise for some. The proportion of people who think their finances will worsen over the next […]
IRS wait-to-file signal to millions of taxpayers creates filing season ‘chaos’
RIA added 16 teams in 2022 after embarking on first M&A deals
15 firms warned about targeting BSPS victims
The FCA has warned that at least 15 firms are targeting BSPS victims with unsolicited and misleading offers of redress. The regulator said the offers could cause further harm to BSPS victims who may get less than they deserve. The watchdog issued the warning today ahead of its official BSPS redress scheme which starts on […]
‘Ethnic pension gap’ affects millions
Pension savers from the ethnic minorities are far less likely than white Britons to save into a pension scheme. The ‘ethnic pensions gap’ is putting many millions at risk of financial hardship in later life, the Social Market Foundation think tank has warned. The foundation says that just 25% of people from ethnic minorities […]