News

The formats of both the annual Budget and Autumn Statement must evolve to focus on tax and spending decisions rather than political "vote chasing", the Institute of Economic Affairs (IEA) has said.

An advisory firm which attempted to spearhead an IFA-led judicial review into the fairness of an Arch Cru compensation offer has been declared in default.

Profits at Prudential UK fell flat last year, barely upticking from the year before, as the rush to sell onshore investment bonds subsided following the introduction of the Retail Distribution Review (RDR).

M&G has reported net outflows of £700m from its UK retail business for 2013 after slowing flows into some of its most popular funds.

Brooks Macdonald has reported a 16% increase in interim pre-tax profit as assets under management near the £6bn mark.

IFG group - parent company to independent wealth managers Saunderson House and self-invested personal pension (SIPP) provider James Hay - has sold its IFA arm for £9.1m.

The Co-operative group said it has accepted Euan Sutherland's resignation as chief executive, and that chief financial officer Richard Pennycook will act as interim boss.

Michael Paul, investment manager at City Asset Management, is joining Brewin Dolphin's research team.

More than a million extra middle-income workers will have been dragged into the 40p tax bracket by next year because of George Osborne's plans to boost income for the low-paid.

The state pension age should rise to 70 by 2040 - more than 20 years earlier than scheduled under government changes - the former chairman of the Financial Services Authority (FSA) Lord Adair Turner said last night.