Displaying items by tag: pensions
Friday, 01 June 2018 12:42
Pensions Freedoms ‘make it easier for scammers’
The managing director of global advisor firm Duff & Phelps has said Pension Freedoms have encouraged scammers.
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Tuesday, 29 May 2018 12:57
Retirement savings lost by 7m people
Research by Aegon has revealed that 64% of people had multiple pensions.
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Tuesday, 29 May 2018 10:28
Elaine Turtle: Financial Guidance Bill ‘ping pong’
Protecting consumers from unscrupulous scammers and conmen has been a priority for the financial services industry for some time.
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Friday, 25 May 2018 12:57
PIMFA urges rethink on contingent charging ban
PIMFA has defended contingent charging in a robust response to the FCA’s consultation on improving the quality of pension transfer advice.
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Wednesday, 23 May 2018 14:34
Ambulance chasers turning attention from PPI to SIPPs
The AMPS conference in London yesterday featured a warning on the increasing proliferation of ‘ambulance chaser’ companies seeking to press claims against SIPP providers.
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Wednesday, 23 May 2018 14:22
TPR exec warns of increasingly 'clever and devious' scammers
A senior director at The Pensions Regulator has called on pension holders to be more vigilant to combat increasingly "clever and devious" scammers.
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Thursday, 17 May 2018 10:38
AJ Bell boosts profits by 24% in record performance
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 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.”
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Monday, 14 May 2018 14:36
Elaine Turtle: Why post age 75 Sipp planning is more complex
The end of the tax year is traditionally a really busy time for adviser and SIPP providers.
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Comment and Blogs
Thursday, 10 May 2018 11:28
PFS proposes Government levy solution to FSCS funding
The Personal Finance Society wants the Government to impose a ‘seven basis points’ levy on funds under management per year as a solution to FSCS funding problems.
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Wednesday, 09 May 2018 12:46
Investors launch legal bid against SIPP firm
Investors have launched legal action against Liberty SIPP over allegations it cost them money through risky investments.
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