The FCA has decided not to ban contingent charging on DB schemes meriting, among other things, a Money Box debate on the issue. But there are other parts to the paper
The FCA policy paper PS18/20 confirms it would continue with its ‘parameter guidance’ on the triage process, which means firms must not provide any kind of personalised guidance during the triage process because they risk straying into the parameters of regulated advice.
It has also ruled out a contingent charging ban for now but will continue its research as Pensions Expert reports.
Meanswhile Andy Thompson, CEO of Intrinsic considers the FCA’s balancing act on pension transfer advice.
FCA chair Charles Randall says the UK should not race to the bottom in regulatory terms following Brexit. Most advisers would suggest someone needs to sort out a lot of recent EU inspired regulation around disclosure and trading data from MiFID and PROD but if the UK has lost its seat at the table how exactly does it influence things?
Compliance consultant and former ThreeSixty boss Phil Young takes a 5% stake in Model Office and joins the board. The firm founded by Chris Davies uses market research to benchmark businesses, including wealth managers and advisers, against five criteria: risk management, client engagement, service, support, and human resources. Sounds interesting.
A survey from the XPS Pension Group suggests that three quarters of employees and trustees would like to see partial transfers from pensions.
Peter Michaelis, head of sustainable investment at Liontrust says there is a strong case for at least some banks in a sustainable investment portfolio.
Succession is to target firms with more than £100m in assets under management as it abandons the acquisition in reverse model where typically smaller firms became members before being taken over.
Mark Barnett, who manages the Invesco Perpetual High Income fund, says it is unlikely the UK will suffer a recession and that the difference in valuations between UK oriented and overseas orientated stocks may be too great.
