News

Aegon UK has said that it estimates the charge caps for auto-enrolment business will cost it between £20m to £25m a year, as it reported a 30% rise in pre-tax earnings for the second quarter.

The government has been told it can sue French banking giant Societe Generale for allegedly mis-selling financial products to Northern Rock that were partly to blame for UK lender's collapse.

Neil Woodford's St James's Place fund is in line for a rapid windfall from one of its investments after Daisy Group said its chief executive was plotting a £500m bid for the company.

The Investment Management Association is to launch a consultation into how fund groups disclose portfolio turnover rates as early as next month.

Royal London has launched an annuity shopping around service to assist customers looking to buy a guaranteed income for life at the best rates.

Barings has hired two former Schroders managers to strengthen its investment team after multi-asset managers Andrew Cole, Percival Stanion and Shaniel Ramjee quit the group.

Wealth adviser Towry has signed an agreement with sports agency Quantum Sport to provide financial advice to players in the world of football, cricket and rugby.

BlackRock has scrapped the 1% initial charge for intermediaries investing in Alister Hibbert's European Dynamic fund after assets under management fell to a more manageable level.

Hargreaves Lansdown is reducing the minimum investment required to open an account from £500 to £100 in a bid to entice low-value clients.

Almost half of advisers (47%) do not think consumer confidence in financial services has risen since the introduction of the Retail Distribution Review (RDR), according to Cofunds research.