Debate: Should the Financial Conduct Authority ban exit fees on investment platforms? March 15, 2019 Should the Financial Conduct Authority ban exit fees on investment platforms? Alex Kovach, chief commercial officer at Interactive Investor, says YES. Consumers should be able to vote with their feet and switch investment platforms without the burden of crippling exit fees. As an industry, we should not be putting up barriers to switching – and the [...]
Brooks Macdonald assets drop in challenging first half March 14, 2019 Brooks Macdonald saw assets under management (AUM) slip in the first half of the financial year due to challenging market conditions. AUM fell 4.5 per cent to £11.9bn in the six months to the end of December last year, however, the fall was partly offset by £241m of net new business, which was up 1.9 [...]
Financial Conduct Authority proposes investment platform exit fee ban March 14, 2019 The City watchdog has proposed banning exit fees on investment platforms as part of a package to improve the switching process for consumers. The Financial Conduct Authority (FCA) also mooted a rule that would allow customers to switch platforms and remain in the same fund without having to sell their investments in a bid to [...]
The poker player teaching investors to learn to accept uncertainty as a fact of life March 13, 2019 | City Talk Annie Duke is an American professional poker player turned business consultant. Her 2018 book Thinking in Bets: Making Smarter Decisions when You Don’t Have All the Facts aims to help people feel better about uncertainty – something of a fact of life for investors – and so make better decisions. Duke starts her book by [...]
ii winter portfolios 2018-19 deliver mega profits March 13, 2019 | City Talk Four months into this six-month strategy and both our winter portfolios are thriving, writes Lee Wild. Finding a trading strategy that works 100 per cent of the time is the Holy Grail of investing. We’re not claiming to have found it here, and seasonal trading is not for everyone, but there is a statistical anomaly backed [...]
Standard Life Aberdeen scraps co-chief executive structure March 13, 2019 Standard Life Aberdeen has scrapped its co-chief executive structure, the investment firm announced this morning as it reported a dip in profits and assets under management (AUM). Keith Skeoch has been appointed sole chief executive and Martin Gilbert has been moved to vice chairman of the company, dissolving the structure that was agreed following the [...]
Quilter boosts profits despite challenging market conditions March 12, 2019 Wealth management firm Quilter reported increased profits last year despite challenging market conditions. The figures Shares rose six per cent this morning as the firm reported that profit before tax was up 11 per cent to £233m, in its full-year results to the end of December 2018. Read more: Quilter blames market for fall in [...]
UK bank shares: A pre-Brexit view March 12, 2019 | City Talk Some UK bank shares have made massive profits for shareholders, but how should you play the sector now? It’s been a few weeks since the last of the big UK-listed banks published results for 2018, and share price performance since has been varied. Brexit, of course, has played its part and, with some lenders up [...]
River and Mercantile ‘focused on conduct’ following City watchdog investigation March 11, 2019 River and Mercantile has said it will focus on conduct as it moves to reassure investors in the wake of an investigation by the City watchdog. The Financial Conduct Authority fined the asset management firm £109,000 last month after it was found to have broken competition law, and former portfolio manager Philip Rodrigs was sacked [...]
Investors increase alternative asset portfolios due to market volatility March 11, 2019 Investors are increasing the percentage of their portfolios dedicated to alternative assets as volatility hits mainstream markets. One in four private investors have 20 per cent or more of their overall portfolio allocated to alternative assets such as private equity, infrastructure and real estate, according to research by Connection Capital. Read more: Ares Management injects [...]