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  • Rise in electronic in-specie clean share class transfers predicted

    23 February 2021

    Origo is predicting a shift within the industry from current largely manual transfer processes for share class conversions to electronic transfer, following the new FCA rule mandating in-specie transfer of funds between platforms. From this month, FCA regulations (PS19/29) require platforms to offer in-specie transfers of funds, as well as share class conversions where...

  • Parmenion launches reporting tool as PROD aid

    15 February 2021

    Platform provider Parmenion has launched a new reporting tool to help advisers meet their PROD requirements.  The tool, named Vantage, will provide advisers with up-to-the-minute data on an information management dashboard, enabling them to identify patterns in their clients’ investment choices including a breakdown of total assets under management. Advisers will be able to analyse their...

  • Technology no Covid panacea – NextWealth research

    10 February 2021

    Technology has proved invaluable during the pandemic but new research has shown that switching to digital systems and virtual communications may not have save advisers time or money, in some cases adding complexity. The research, carried out by NextWealth, revealed that it currently takes advisers an average of three to four weeks to onboard a new...

  • FCA suffers ‘worrying’ number of malicious email attacks

    7 February 2021

    The Financial Conduct Authority was targeted by nearly a quarter of million malicious emails during the fourth quarter of 2020, according to a Freedom of Information request by Griffin Law, highlighting financial services’ vulnerability as a cybercime target. According to the leading litigation firm, the watchdog received 238,711 malicious and unsolicited emails over the three month...

  • Digital fact find favoured by 75% of advisers

    27 January 2021

    Demand for digital fact-finds soared during 2020, marking a significant shift in how advice firms collect client information during the financial planning process. Research carried out by CashCalc at the end of last year found that three quarters of advisers (75%) and a similar number of clients (77%) prefer to use digital fact-finds over...

  • Warning as cloning and identity scams cost investors millions

    27 January 2021

    Victims of investment fraud lost an average of £45,242 last year after the Covid-19 pandemic spurred a spike in the number of scammers. In total, ‘clone’ scammers purporting to be legitimate firms stole £78 million from unsuspecting victims in 2020, according to Action Fraud data. The findings showed that the number of scams increased...

  • Dynamic Planner extends client tool to help meet MiFID II

    25 January 2021

    Dynamic Planner has extended its client reporting tool to help advisers address the different requirements of MiFID II regulation. The new rules stipulate that advisers must report a fund switch or rebalance to the client prior to a transaction. While 70% of platforms provide auto-rebalancing, advisers cannot rely solely upon this functionality without meeting advisers...

  • Royal London latest major provider to adopt encrypted email

    21 January 2021

    Royal London has adopted Unipass Mailock, the industry’s secure email communication system provided by Origo and cyber security specialist Beyond Encryption and will use it to help secure communications data and protect against cybercrime. Will Pritchett, chief technology officer, Royal London said: “The safety and security of our clients’ data is paramount. Given the...

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