Many journalists in the financial planning world have written and spoken for years about platforms’ cash margins and potential attention influx on them from the regulator.
This week, those musings came true in the form of a letter to both platforms and self-invested personal pension providers. The Financial Conduct Authority set out its concerns on the way firms deal with any interest earned on balances and noted it has increased as rates have risen recently. The watchdog wants changes to double dipping by the end of February, so there's not long for cracking on! Elsewhere, wealth manager 7IM confirmed its first acquisition deal this week since it was itself taken over by a Canadian pension fund back in September. The deal for City-based Amicus Wealth sees...
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