Catch up on Money Marketing’s most popular stories this week. SJP announced a reduction in charges for 14 of its funds and Evelyn Partners completes succession deal. Read more below:
SJP slashes charges on 14 funds
St. James’s Place (SJP) announced a reduction in charges for 14 of its funds in its annual value assessment released on July 31st. The funds benefiting from this change include: Global Absolute Return, Global Quality, Global Value, Greater European Progressive, International Equity, and Sustainable & Responsible Equity.
Neil MacGillivray: How about this for a DB dilemma?
Neil MacGillivray discusses the implications of recent legislation changes on pension benefits for wealthier clients. He presents two approaches for pension withdrawals, considering the removal of the LTA charge. The best option depends on individual circumstances, such as health and dependents. The article serves as food for thought for advisers encountering similar scenarios.
Evelyn Partners completes succession deal
Evelyn Partners has expanded its presence in the North West through a recent deal, welcoming the team from boutique wealth manager Millen Capital to its Liverpool office. Founded in 1999 by Angus Millen, Millen Capital has been offering a comprehensive wealth management service to successful professionals and business owners.
Aviva Investors appoints UK global wealth head
Aviva Investors has named Smera Ashraf as the head of global wealth – UK. Based in London, she will report to Charlie Jewkes, the head of global wealth. In her new position, Ashraf will oversee the growth of Aviva Investors’ UK wealth business, focusing on various channels, including UK intermediaries, discretionary wealth, and global financial institutions.
Govt sets out plans to ban all cold calls for financial products
On August 2, the government initiated a consultation to extend the ban on cold calls for all financial products, signaling a more comprehensive approach in curbing scam calls. This new measure goes beyond the original ban, which solely targeted pensions and was implemented on January 9, 2019.
Standard Life hires head of investment proposition
Standard Life, a part of Phoenix Group, has appointed Callum Stewart as the head of investment proposition distribution. This move emphasizes the company’s commitment to sustainable investing solutions and showcases the reinforcement of its investment solutions team.
FCA delays simplified advice plans
The Financial Conduct Authority (FCA) has postponed its plans to establish a new ‘core advice’ regime due to a lack of support. The proposed simplified advice for investing in mainstream products, particularly stocks and shares ISAs, did not receive sufficient backing, leading to the delay.
Advisers expect Consumer Duty to hit profits, study finds
According to research by Quilter, nearly half (44%) of financial advisers anticipate a decrease in profitability due to the Financial Conduct Authority’s new Consumer Duty rules. Only 5% believe their profitability will increase, while 46% expect it to remain unchanged.
FCA appoints three new chairs to supervisory panels
The Financial Conduct Authority (FCA) has announced several appointments to statutory panels responsible for overseeing its work. Clare Woodman, the Head of EMEA and chief executive of Morgan Stanley & Co. International Plc, has been appointed as the chair of the FCA Markets Practitioner Panel.
Schroders Personal Wealth appoints Alan Goodman as CIO from SJP
Schroders Personal Wealth (SPW) has appointed Alan Goodman as its new chief investment officer. With over 25 years of experience in financial services, Goodman has previously held senior investment positions at prominent wealth management firms, including St James’s Place, BNY Mellon, and Invesco.
