Old Mutual Wealth appoints new head of Financial Adviser School in revamp

Darren Smith has today been appointed head of the Financial Adviser School (FAS) as part of a move to set a clearer direction for the not-for-profit organisation which was acquired by Old Mutual in February.

The Financial Conduct Authority has banned Mark Kelly and Patrick Gray from working in the financial services industry on the basis that they lack integrity after £24m of client money was invested in ‘unsuitable investments’, it said today.

Schroders has unveiled the Schroders International Selection Fund (ISF) Global Multi Credit fund which will invest actively across global credit markets, including investment grade, high yield, EM sovereign, credit and convertibles to take advantage of global opportunities.

The Financial Services Consumer Panel has raised concerns that the abolition of MAS could leave consumers stranded and without a source of impartial financial guidance.

Adviser software provider Intelliflo has named the investment providers who will support its robo-advice style Automated Advice Service aimed at clients of advisers using its Intelligent Office (iO) Personal Finance Portal.

Research by NFU Mutual has found that over three-quarters (79%) of UK adults have not discussed inheritance issues with their family.

Richard Wilson has been appointed CEO and CIO of BMO Global Asset Management with immediate effect. The 28-year investment management veteran replaces Rajiv Silgardo who is retiring from the company.

Households are worried about financial fragility and external shocks despite a £95 increase in monthly disposable income from £905 to £1,000 in the last quarter, according to a study by Scottish Friendly.

NPG Wealth Management and its life assurance company Private Estate Life (PEL) have joined forces and are now operating under a single brand name called OneLife, targeting the wealthy investor sector.

The Royal Mint has made Royal Mint gold bullion available to SIPP and SSAS plans for the first time, adding an additional pension investment option.