The Week in Numbers – 21st December

The Week in Numbers

£6m – Size of FCA fine imposed on Threadneedle Asset Management for allowing a fund manager to book a trade that could have caused a £72m lose to client funds

5 – Number of firms the FCA is considering taking enforcement action against following the findings of a thematic review into wealth managersblue news

0.44% – Charge for the eVestor robo-advice service to be launched next year by Paradigm founding partner Anthony Morrow and Moneysupermarket.com co-founder Duncan Cameron

£87k – Size of fine FCXA is seeking to impose on ex-Financial Ltd boss Charlie Palmer for failing to ensure network members gave suitable advice. Palmer has appealed the decision.

20bps – Typical cut to AMCs after Standard Life Investments stopped paying trail on mutual funds. Trail was paid at either 25 or 50 basis points.

3 Months – Period ex-Openwork chief executive Mary-Anne McIntyre spend as Chief distribution officer at Old Mutual Wealth

£50m – Government estimate on the level of increased costs faced by employers and pension schemes due to the lifetime allowance cut from £1.25m to £1m in April.

 

We could have taken Commission upfront and filled our boots” – Almary Green managing director Carl Lamb hits out at firms considering stopping trail commission on a non-platform basis.

Originally Published in Money Marketing Magazine 17th December 2015

Share this page:

About

Nikki joined Recruitment Connection in 2014 and undertakes industry research to provide relevant articles, information and writings for our blog.