Axa Wealth reveals new business jumped by 43 per cent in the third quarter October 27, 2015 Axa Wealth announced its third-quarter results today, revealing that new business had shot up 43 per cent to £578m. Pensions and funds under management for the pensions and investments company also grew by 14 per cent to £30.4bn. Results were also positive for Architas, Axa Wealth’s multi-manager arm, which reported an increase in assets of [...]
One in seven over-55s has been targeted by pension fraudsters October 27, 2015 New pension rules may have given savers more freedom when it comes to what to do with their cash – but it's pricked up the ears of fraudsters, too: new figures have suggested as many as 14 per cent of over-55s in work – that's about one in seven – reckon they've been targeted by a scammer since the new [...]
Finance fears are putting off 40 per cent of Brits who’d like to start their own business October 26, 2015 Forget a nation of shopkeepers, we're a would-be nation of entrepreneurs – almost 40 per cent of Britons would like to start their own business. But a lack of stable income, and fears over financing are forcing Brits to bin their business plans, according to a survey from Intouch Accounting. More than half of under-35s [...]
LV posts 19 per cent growth in sales of retirement products post-pension freedoms October 26, 2015 LV announced a growth in sales of retirement products of 19 per cent to £1.1bn over the last nine months. Protection sales also rose by 35 per cent to £209m for the period, contributing towards a total of 22 per cent growth in sales to £1.3bn for the life and pensions division of the financial services [...]
Burrito restaurant Chilango to raise £1m via crowdfunding platform CrowdCube October 26, 2015 Burrito restaurant Chilango has launched a new fundraising round on crowdfunding platform CrowdCube after tapping retail investors for £2m last year. The Mexican food chain said it aims raise £1m from potential investors in return for a 3.26 per cent stake in the business. Shareholders can put as little as £10 compared with last year’s mini-bond, where investors [...]
Move over bankers: Fintech workers have seen some of the fastest salary growth this year October 26, 2015 They may not yet be on a par with bankers, but the UK's tech workers shared a bonus pot of £3.25bn in 2015, while their basic salaries have grown five per cent over the last financial year. The average IT worker's bonus is £6,681, equivalent to 12 per cent of average salary, which is up [...]
UK pension schemes face £62bn rise in liabilities if interest rates stay low – JLT Employee Benefits October 26, 2015 UK private sector pension schemes could find their aggregate liabilities increase by as much as £62bn if an interest rate rise fails to materialise one year after market expectations, research by JLT Employee Benefits has revealed. If the pension consultancy firm’s predictions are correct, employers might have to find an extra £2m on average to [...]
Businesses call on government to create more stability around pensions regulation October 26, 2015 Most businesses feel pensions regulation stability should be a priority for government, a report by the Confederation of British Industry (CBI) and Mercer has revealed. In a survey released today of more than 160 corporate leaders, who between them are responsible for £115bn worth of assets invested in pensions, 79 per cent thought that the [...]
RationalFX and Xendpay founder Rajesh Agrawal on Apple Pay, Masai warriors and the future of banks October 25, 2015 When I get the Tube, I always pay using my Apple Watch,” says Rajesh Agrawal. The Indian-born entrepreneur and philanthropist doesn’t exactly need to take the Jubilee Line to work – in The Sunday Times Rich List 2012, he was estimated to be worth around £90m. But making money has never been the aim: “look [...]
Are the CMA’s provisional recommendations enough to increase competition in the banking sector? October 22, 2015 Omar Ali, head of UK financial services at EY, says Yes The CMA’s provisional remedies will encourage competition in a market that’s already much more competitive than it was. We now have several credible challenger banks, a burgeoning fintech sector and a switching service better than most markets. But the CMA is right to [...]
