Insurance giant Aviva has announced it will offer a discretionary goodwill payment of up to £14m to shareholders who sold preference shares from 8 to 22 March, following criticism over plans to cancel £450m of high-yielding preference shares at par value, which it later scrapped.
Aviva announced its intention to cancel the preference shares on 8 March 2018, following legal advice owing to regulatory requirements, which mean preference shares will no longer count as regulatory capital...
PARTNER INSIGHT: For many advisers, outsourcing to a multi-manager or discretionary fund manager makes sense, allowing them to focus on the adviser-client relationship
An added tier of asset management can of course deliver additional benefits for certain investors, writes Graham Bentley - just be sure you can justify it to the regulator and, especially, the client
The government is "in daily contact" with industry figures over the pensions dashboard as it prepares for the roll-out and its feasibility report, Guy Opperman has said.
Organisation led by Johnny Timpson
From 1 April 2019