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Nic Cicutti: FCA must bring an end to vertical integration scam
The regulator knows the model is often used to extract money from hapless investors who lose out unnecessarily
By Nic Cicutti 7
th May 2021 10:12 am
One thing I always find intriguing after many years writing on finance is the way this industry manages to come up with fancy new terms for old and discredited activities that should have been binned decades ago. It might even be comical were it not for the fact these things usually end in tears for millions of savers.
The ‘new’ old term this time is ‘vertical integration’, defined in a recent
Neil Liversidge: Why I m saying no to the FCA and client segmentation Every client is unique
Neil Liversidge is putting his head above the parapet on client segmentation. Here he explains why his firm doesn t place clients into FCA-mandated pigeonholes despite being told that s exactly what advisers need to do.
Have you categorised your clients? A few years ago we were told that the Financial Conduct Authority (FCA) was keen that firms should categorise clients, using labels such as ‘young accumulators and ‘retired decumulators as part of its PROD rules.
This was pushed heavily at various industry seminars by ex-FCA luminaries such as Rory Percival.
Tuesday 20 April 2021 7:40 am BA looks set to recover from Covid crisis, so why are its 40-something pilots giving up their gold-plated pensions?
In turbulent times, when the future of a company is being called into question, it is not uncommon for staff to transfer out of their employer’s defined benefit (DB) pension scheme, if they have one.
Although seen as “gold-plated”, some DB scheme members worry about their scheme falling to the pension lifeboat fund, and that they will lose money as a result.
This has been the case at British Airways in recent months. Pilots in particular have been transferring out of the scheme for a number of years and for a variety of reasons, however in the last year, when the coronavirus hit airlines particularly hard, the viability of the company became another factor for those considering transferring away from the pension.