All articles by Verdict Staff
Verdict Staff
Supervising retail investment advice: Financial Conduct Authority
In September 2013, we consulted on guidance (GC13/5) on how payments made by providers to advisory firms under service or distribution agreements can breach Principle 8 (Conflicts of interest) and the COBS inducements rules, and so undermine the objectives of the Retail Distribution Review.
Peapack-Gladstone Bank appoints new managing director for wealth
Peapack-Gladstone Bank has appointed Gary Todd Pancoast as new senior managing director for wealth.
Northern Trust ultra-short fixed income funds exceed US$4 billion in assets
Northern Trust’s two ultra-short fixed income mutual funds have surpassed US$4 billion in combined assets, as investors continue to seek alternatives to money market funds in a continuing environment of low-interest rates.
Geneos Wealth selects Fiserv platform for portfolio business
US-based broker/dealer Geneos Wealth Management has selected Unified Wealth Platform from financial technology provider Fiserv to run its model portfolio business.
HedgeGuard set to transform the UK hedge fund industry: HedgeGuard
HedgeGuard has launchedUK business as it begins the rollout of a ground-breaking cloud technology platform and international expansion.
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Goldman Sachs’ investment management unit sees 5% rise in Q4 revenues
Net revenues at Goldman Sachs investment management unit were US$1.60 billion for the fourth quarter of 2013, 5% higher than the fourth quarter of 2012.
Investor confidence in UK shares hits record high: Lloyds Bank
After a strong year for UK shares, the Lloyds Bank Private Banking Investor Sentiment Index survey shows private investor confidence in asset class is at its highest since the survey began in March 2013.
Pyne Gould sells Perpetual Trust for $12.3 million
Pyne Gould, an Australia-based wealth management firm, has sold its last New Zealand asset Perpetual Trust to wealth management investor Andrew Barnes for $12.3 million.
Two thirds of advisers believe KIIDs fail to avoid jargon: Kii Hub
Fund groups are not doing enough to deliver their Key Investor Information Documents (KIIDs) in plain, jargon-free language, as they are required to do, according to a survey of investment advisers by Kii Hub.
IILM to expand Islamic bond programme to $860 million
Malaysia-based International Islamic Liquidity Management Corp (IILM) is planning to expand its Islamic bond programme by $370 million to $860 million in the coming week.