News

Gary Shaughnessy, head of Fidelity's retail business, is leaving the firm to become chief executive of Zurich's UK life business.

The average pension saver has lost £2,750 a year from their future income in retirement over the last year, research finds.

Axa Wealth has said it has "resolved" functionality issues on its wrap proposition Elevate which has now reached £4bn assets under management (AUM).

National IFA Towry has announced "record" profits for 2011, after poor performance in 2010.

The Financial Ombudsman Service (FOS) has set its budget for 2012/3 at £191.1m, meaning both the case fee and total levy will be frozen for the third year running.

Discounted gift trusts (DGT) business levels will remain flat or fall over the next year due to adviser dissatisfaction with the products on offer, a survey by Octopus Investments reveals.

Skandia International's latest research reveals the financial outlook of millionaires living in the UK, France, Italy, Hong Kong, Singapore, and Dubai.

A slower rate of growth that is better balanced towards domestic consumption should be seen as a positive for the country as it is more sustainable.

Trading profits at Sesame Bankhall Group fell significantly in 2011 compared with the previous year as the company invested in a series of solutions it hopes will cater for independent and restricted advisers from next year.

Resolution is preparing a "self-managed" exit from Friends Life in 2014 that would see the company split between a fit for purpose life company and a closed life fund consolidator.