News

Clients looking to transfer out of defined benefit (DB) pension schemes could struggle to find willing advisers and providers to facilitate the shift, leaving them at greater risk of falling victim to fraudsters, Neil MacGillivray has warned.

People wanting to cash in their entire pension pots without taking regulated advice should be subject to a mandatory 30-day cooling off period, advice firm LEBC has said.

The UK will become a pensions transfer ‘haven' for European Union (EU) citizens once freedom and choice comes into effect, a top pensions lawyer has said.

The Personal Finance Society (PFS) has launched an online space to share good practice guides with advisers.

Lloyds Banking Group is to start paying dividends again for the first time in six years, set to be 0.75p per share for 2014.

Old Mutual Wealth has reported profits from its platform business rose 46% last year as it integrated Intrinsic's 3,000 advisers into the group.

The Serious Fraud Office (SFO) has opened a criminal investigation into an alleged fraud involving investments in teak plantations in Brazil.

Retail fund sales tumbled last month in a reversal of the strong inflows seen in 2014, according to the latest Investment Association (IA) figures.

Net inflows at Jupiter Fund Management slowed to £900m during 2014, compared to £1.2bn seen in the previous year, but the group said it is "particularly pleased" with inflows from abroad.

State-backed lender Royal Bank of Scotland (RBS) has reported a £3.5bn loss for 2014.