EDHEC Business School’s model of how Liability Driven Investment should be applied to individual investment goals looks remarkably like ours!
read more Commentary by Stuart FowlerHigh Street banks dominate the first list of firms named and shamed by the Financial Ombudsman Service.
read more Commentary by Stuart FowlerPublished in FTfm, 13th July 2009 (Article by Stuart Fowler)
read more News by Stuart FowlerConsumer complaints about investments have nearly doubled in the past year, according to the Financial Ombudsman Service’s annual review. Overall investment and pension complaints (now including mortgage endowment cases) jumped to 22,265 from 12,787 in 2007/08. Commenting on the report, Citywire’s ‘New Model Adviser’ forum singled out that ‘while the ombudsman recognised under performance of investments was a factor in some of these complaints, it said poor stock market conditions had exposed poor advice. In particular it identified a trend in complaints where financial advisers had not sufficiently considered clients’ tolerance to risk.’
read more Commentary by Stuart FowlerIn today’s Sunday Times, Money editor Kathryn Cooper devotes her ‘Cooper on Cash’ column to the high street banks’ sales strategy of moving low-risk investors, including the elderly, out of low-yielding savings products into higher-yielding investment products that expose them to risk of loss of capital. Several of my recent items refer to this. She wants the FSA to ask itself whether it is enough to look at documentary evidence of the sales process ‘rather than casting its eye over the banks’ entire business strategies: is it right that pensioners should be moved en masse into corporate bonds and equities in their search for income?’.
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