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The week in wealth management - most read on thewealthnet

02/07/2018 News Team

Monday
The week began with a look at criticism of St. James’s Place Wealth Management’s fee model from Yodelar, which claims to provide transparency for investors with its factual, independent research.

Andrew Ross is to retire as chief executive of Schroders wealth management business at the end of 2018 to take on a new non-executive role within the firm as vice chairman wealth management. Mr Ross will be succeeded as global head of wealth management by Peter Hall, a former chief executive of Tilney, who is currently an adviser at Permira, a private equity firm. Mr Hall will assume his new position on 2 January 2019.

Tuesday
Insignis Cash Solutions has appointed James Scott, group commercial director of Curtis Banks, a provider of self-invested personal pension schemes (SIPPs) and small self-administered pension schemes (SSAS), to its advisory board. 

Share allocations to directors and senior management of Quilter plc, which commenced trading on the London Stock Exchange (LSE) on 25 June, appear to have been relatively modest, according to a news release from the company. The biggest beneficiaries are Tim Tookey, Paul Feeny and Martin Baines.

Wednesday
Wellingborough, Northamptonshire-based Weatherbys Bank, the UK’s second oldest family-owned bank, generated pre-tax profits of £5.74 million for the year to 31 December 2017, a £1.04 million or 15.38 percent reduction on the £6.78 million registered for the previous year.

Fidelius has selected Hubwise as its investment platform provider. The new platform will be branded to independent financial advisers (IFAs) as Advance, and Fidelius says it will consolidate its wealth business from multiple platform solutions to the single, white-labelled platform from Hubwise.

Thursday
The British arm of a Nigerian Bank, FCMB Bank (UK) Ltd has received official authorisation to offer a retail investments service in Britain.  This will enable the bank to market high net worth individuals and business owners with a range of services which currently cater for institutional and corporate customers.

The Financial Conduct Authority (FCA) estimates that some drawdown customers could receive 37 percent more retirement income every year by investing in a mix of assets rather than cash. The FCA has launched a consultation on a range of measures which are designed to protect consumers, improve engagement and promote competition in the retirement income market and the consultation accompanies the publication of the FCA’s final report of the retirement outcomes review.

Friday
Ian Orton, editor at large, examined the latest data from Compeer to see what sets apart the best performing firms, in terms of pre-tax profit margin, from the worst.

Freddie Pooter took a look at the next twist in the tale of Boris Becker and his bankruptcy

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