High net worth individuals and business owners globally are optimistic and looking for opportunities to invest as markets rebound in 2019, according to a new survey by UBS.

The FCA has today published a discussion paper on intergenerational financial differences, exploring the changing financial needs of consumers from different age groups.

XPS Pensions Group has bought RL Corporate Pension Services Limited from The Royal London Mutual Insurance Society. 

Families could be paying an avoidable tax bill of more than £80,000 because parents are too embarrassed to talk to their children about their financial future, according to new research.

A financial adviser is gearing up for a gruelling charity trek which will see him walking from John O’Groats to Lands’ End and scaling the three highest peaks for charity.

The Pensions Regulator (TPR) has warned schemes they must produce a chair's statement which is compliant with the law, after fines against two were upheld in court.

Baillie Gifford, the Edinburgh-based investment management partnership, is to transfer its investment trust savings scheme, including its ISA, Share Plan and Children’s Savings Plan, to Hargreaves Lansdown. 

The firm says that after an “extensive review of its investment trust savings scheme and the service it currently offers to investors, Baillie Gifford concluded that the long-term interests of plan holders are best served by a transfer of their investments to a specialist investment platform”.

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More than 21,000 plan holders representing £1.3bn in funds under management are set to be transferred to the Hargreaves Lansdown platform.

Baillie Gifford selected Hargreaves Lansdown following what it called “a robust and detailed process which focused on quality of service, cost, breadth of proposition and experience of managing account transitions”.

Hargreaves Lansdown offers a wide choice of investment products, Baillie Gifford said, including SIPPs, ISAs and investment accounts and all Baillie Gifford managed investment trusts are available on the platform.



Plan holders are being contacted with further details of the transfer and their options.

During the transition period existing ISA, Share Plan and Children’s Savings Plan investors will be able to add to their respective plans.



Baillie Gifford has agreed with Hargreaves Lansdown the current charging level across all plans will not change for a period of three years from the agreed transition date.

The Baillie Gifford scheme has closed to new investors.



James Budden, director of retail marketing & distribution, Baillie Gifford, said: “The increasing variety, capability and cost effectiveness of investment platforms in the wider savings market has led us to decide plan holders of our investment trust savings scheme are best served by a specialist platform.

“We selected Hargreaves Lansdown for a number of reasons, including its ability to offer efficient access to our entire investment trust range through a broad selection of savings products.”
 
Chris Hill, CEO, Hargreaves Lansdown, said: “As one of the largest supporters of investment trusts we are pleased to welcome Baillie Gifford clients to Hargreaves Lansdown.”

FCA figures have shown a fall in the number of complaints about regulated firms.

The Chartered Institute for Securities & Investment (CISI) has raised concerns with the FCA at the decision to increase the Financial Ombudsman Service’s (FOS) compensation limit from £150,000 to £350,000, as it may have “serious unintended consequences for its member SMEs”.

XPS Administration has called on pension schemes to get ready for the introduction of the Pensions Dashboard now.