All the news from tax, regulation, people moves, offshore bonds and platforms
Cold-calling pension company vanishes with millions
An abusive UK pension company that pumped millions into notorious ‘storage’ investments has been shutdown by the High Court.
Carrick targets ultra-wealthy with family office launch
South Africa advisory firm Carrick Wealth has set up a family office to cater to the “unique needs” of ultra-high net worth individuals (UHNWIs).
Model portfolio risk labels ‘dangerously naive’
The UK’s Financial Conduct Authority has taken aim at risk-targeted model portfolios in its platforms study, which has sparked calls for platform providers to re-evaluate “subjective” branding and the amount of information they disclose.
News 17 Jul 18
Pacific Asset Management partners with UK advice firm
The asset management arm of Pacific Investments Group has entered into a strategic partnership with financial advice business Chartered Financial Management (CFM(UK)).
Blackrock and Schroders frontrunners for £109bn Lloyds mandate
Asset managers Blackrock and Schroders are the rumoured frontrunners to oversee £109bn ($144.3bn, €123.5bn) for Lloyd’s Banking Group (LBG), after its contract with Standard Life Aberdeen was terminated earlier this year.
News 16 Jul 18
Taking a hedge fund mentality to online wealth management
Negativity around robo and investment technology a few years ago prompted former hedge fund executives Ian Cadby and Jonathan Wauton to get into the online wealth management space, culminating in the launch of platform Tiller on Monday.