Bookmark Us
Longevity and a decade of historically low interest rates have created “a dangerous cocktail” for the over-50s generation, according to new joint research by the London Institute of Banking & Finance and Seven Investment Management.
Mattioli Woods is to cease providing pension transfer advice to individuals with safeguarded benefits and is now undertaking a full review.
The managing director of global advisor firm Duff & Phelps has said Pension Freedoms have encouraged scammers. 
Research by Aegon has revealed that 64% of people had multiple pensions.
Protecting consumers from unscrupulous scammers and conmen has been a priority for the financial services industry for some time.
PIMFA has defended contingent charging in a robust response to the FCA’s consultation on improving the quality of pension transfer advice. 
The AMPS conference in London yesterday featured a warning on the increasing proliferation of  ‘ambulance chaser’ companies seeking to press claims against SIPP providers.
A senior director at The Pensions Regulator has called on pension holders to be more vigilant to combat increasingly "clever and devious" scammers.
Platform and SIPP provider AJ Bell has today announced a profits surge of 24% in its interim half-year results, its most profitable ever it says.

The firm reported “strong growth” for the six months ended 31 March, which, as well as increasing profits to record levels, included a 12% rise in customer numbers from 164,557 to 183,482 and a 5% increase in assets under management from £39.8bn to £41.8bn .


Elsewhere in the report highlights included:
·       New business growth with net platform inflows of £3.5bn, up 17% (H1 2017: £3.0bn)
·       Customer retention of 95%
·       Revenue increased 16% to £42.9m (H1 2017: £37.0m)
·       An interim dividend payment of 14p per share, a 10% increase compared to the interim dividend last year (H1 2017: 12.75p)

In the period the company launched two new income-focused multi-asset portfolios within its Managed Portfolio Service (MPS) for financial advisers, as well as a new Lifetime ISA.

Preparations for a listing on the London Stock Exchange “later in 2018 or early 2019” were said to be “progressing well.”

Andy Bell, chief executive of AJ Bell, said: “These are the most profitable interim results in our history and are a great endorsement of our strategy and market position. 

“The UK retail investment and savings market continues to display strong growth and investment platforms are central to this.”

“We are well placed to continue our growth trajectory and are progressing well with our plans for a premium listing on the London Stock Exchange later this year or early 2019.”
The end of the tax year is traditionally a really busy time for adviser and SIPP providers.
Page 37 of 98