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Jason Broomer: Fund survivor bias is alive and kicking

Understanding the impact of cutting the dead wood Nothing sells funds like performance. Despite all the regulator’s railings that past performance is no guide to the future, we see flows being directed to the funds at the top of the league tables time and time again. There are, of course, far too many funds out […]

DWP publishes guidance on GMP equalisation

The Department for Work and Pensions has published its first round of guidance to help trustees resolve unequal guaranteed minimum pensions today. A GMP is the minimum pension that an occupational pension scheme, contracted out of the additional state pension between 6 April 1978 and 5 April 1997 on a salary-related basis, has to provide […]

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Garry Heath: My FOS and FCA road trip

The health monitor on my mobile is currently in raptures. It seems I am hitting my steps target every day, but this is not due to a sudden desire to be fit. It is the fall out of Financial Ombudsman Service’s barking idea to increase its maximum pay out to £350,000 and the resulting problems […]

Average compensation for pension products jumps the most

Upheld complaints related to pension and decumulation products accounted for the greatest average increase in compensation pay outs over the second half of 2018 FCA data shows. The average redress increased from £594 to £876 between 2018 H1 and 2018 H2, the latest round of complaints data published today reveals. During the second half of […]

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Editor’s note: Advisers need to report the rogues in their midst

Each time an advice market scandal emerges, a flood of commentary inevitably follows bemoaning the fact it was not spotted sooner. Why did the regulator fail to act until after the horse had bolted? At the Money Marketing Interactive conference earlier this month, the FCA’s co-director of financial advice and life insurance supervision Debbie Gupta […]

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Pimfa appoints Openwork and Schroders chiefs to board

Trade body Pimfa has made four new appointments to its board of directors to help represent the investment manager and financial adviser sectors. The new members are Openwork chief executive Mark Duckworth and Schroders global head of wealth management Peter Hall. Duckworth is responsible for group and distribution strategy, and oversees the development of the […]