April saw the beginning of a new financial year, as well as new retirement market data and a consultation paper from the Financial Conduct Authority (FCA). Lots for the industry to get its head around…
Policy watch… The regulator was busy yet again this month. On 4 April, the FCA secured High Court approval to obtain £1.6m from Argento Wealth and its sole director Daniel Willis to hand back to its investors. A few days after, it laid out its out its regulatory fees and levies proposals for the new financial year. Part of this was a funding requirement of £755m for the next 12 months in the business plan – an increase on the £681.8m it spent last year. This was something the industry did not take lightly, as our PA Asks saw advisers blast it as "an absolute joke". Meanwhile, spe...
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