News 14 May 18
Clients nearing retirement should ‘avoid insurance bonds’
People who are within five years of taking a pension should not be investing via non-income producing assets such as insurance bonds and wrappers or structured notes, according to OpesFidelio’s Chris Lean.
How to save the pan European pension dream
Anyone interested in the future of pensions should welcome the European initiative on the Pan European Personal Pension products (Pepp). Retirement provision is a major issue facing all European countries, hit by a combination of increasing life expectancy and lowering long-term interest rates.
Australia moves to stop erosion of superannuation funds
The Australian Government has unveiled plans to ban exit fees and cap administration and investment fees to protect super accounts with low balances from excessive erosion.
One-size-fits-all will not meet high net worth expat demands
Wealth managers will have to offer tailored products to high net worth expats if they want to succeed in the fiercely competitive sector, with non-resident Indians (NRI) and Chinese lucrative target markets, according to data and analytics company GlobalData.
News 3 May 18
PI woes force pension transfer firm to pull advice service
UK pension transfer specialist O&M Pension Advice will cease advising clients from 1 July after it ran into “unexpected difficulties” with its professional indemnity (PI) insurer, a problem that is becoming more common in the advice market.
News 3 May 18
Old Mutual Wealth resumes TVAS report service with £150 charge
Old Mutual Wealth (OMW) is relaunching it transfer value analysis service (Tvas), a month after it was suspended following changes to the UK regulator’s rules concerning pension transfers.