X

About

Advertise

Contact

Linkedin
Twitter
Facebook-f
  • News
    • In the Press
    • Politics and Finance
  • Featured
    • Podcasts & Films
    • Interviews
    • Events
    • Finance on Social Media
    • Jobs
    • MPS Report
  • GBI
    • Tax Efficient Investments
    • Open Investment Opportunities
    • People Behind the Product
    • GBI Magazine Issues
    • About GBI
  • Business
    • Regulation and Compliance
  • Magazines
  • The M&G Adviser Hub
Menu
  • News
    • In the Press
    • Politics and Finance
  • Featured
    • Podcasts & Films
    • Interviews
    • Events
    • Finance on Social Media
    • Jobs
    • MPS Report
  • GBI
    • Tax Efficient Investments
    • Open Investment Opportunities
    • People Behind the Product
    • GBI Magazine Issues
    • About GBI
  • Business
    • Regulation and Compliance
  • Magazines
  • The M&G Adviser Hub
Search
Close

About

Advertise

Contact

Jobs

Tools for Advisers

Untitled-1
Linkedin
Twitter
Facebook-f
  • News
    • In the Press
    • Politics and Finance
  • Featured
    • Podcasts & Films
    • Interviews
    • Events
    • Finance on Social Media
    • Jobs
    • MPS Report
  • GBI
    • Tax Efficient Investments
    • Open Investment Opportunities
    • People Behind the Product
    • GBI Magazine Issues
    • About GBI
  • Business
    • Regulation and Compliance
  • Magazines
  • The M&G Adviser Hub
Menu
  • News
    • In the Press
    • Politics and Finance
  • Featured
    • Podcasts & Films
    • Interviews
    • Events
    • Finance on Social Media
    • Jobs
    • MPS Report
  • GBI
    • Tax Efficient Investments
    • Open Investment Opportunities
    • People Behind the Product
    • GBI Magazine Issues
    • About GBI
  • Business
    • Regulation and Compliance
  • Magazines
  • The M&G Adviser Hub
Untitled-1
Linkedin
Twitter
Facebook-f

Sunday’s Money pages – more Woodford scandal

Bosses cashed in big time

by Andrew Sullivan
August 2, 2020
in News
Share this story
Sunday’s Money pages – more Woodford scandal
Share this story

The Sunday Times reveals that directors of the company responsible for the failed Woodford Equity Income fund pocketed about £2.7 million in the run-up to the fund’s suspension — a move that ultimately cost investors £1 billion. Christopher Addenbrooke and Karl Midl are named and shamed.

The paper also reports that investors are forking out millions for frozen funds; although they can’t get their cash out of property investments, they are still paying hefty fees – fund managers have continued to pocket more than £33 million.

It seems that baby boomers (born between 1981 -2000) had a bigger drop in their earnings during the coronavirus crisis than millennials and were almost equally likely to have been furloughed.

The Sunday Telegraph tells how families are burning through their savings to cover care fees; radical proposals for reform have sparked rows over who should pay.

They identify three cheap stocks that will survive Covid – and three that won’t.

There’s a very worrying story about a 53-year old who has lost her entire life savings, the equivalent of £2.3m, after being tricked into transferring out of her defined benefit pension scheme into risky investments.

The Mail on Sunday notes that Sirius Minerals bosses Chris Fraser and Thomas Staley pocketed £1.3m after agreeing a takeover that cost many shareholders their life savings.

They advise their readers to move fast for a bargain as house prices see a surprise surge and explain how to work out what to pay for a house now.

The paper’s Power Portfolio is being updated this weekend and will remain unique and free but will be unavailable briefly – so expect a little bit of client confusion.

“Only buy something that you’d be perfectly happy to hold if the market shuts down for ten years.” (Warren Buffett)

*Highlight text, right click and hit “search google” for more info on any of the featured topics*

Please stay safe and don’t get over-confident; the virus is still very much here and waiting for any sniff of a chance.

Better to be bored than buried…

 

Previous Post

Amazon adds 175,000 jobs since March

Previous Post

Britain getting back to work

Previous Post

Germany’s finance minister defends Wirecard handling

Next Post

HSBC profits plummet 97%

Next Post

New bespoke BR consultancy service from Hardman & Co

Next Post

Investec unveils 100th launch

Related Posts

New investment firm Engine No. 1 – bringing active ownership and impact-driven strategy to investing
News

Engine No. 1 formally nominates four director candidates to Exxonmobil Board

January 28, 2021
‘A very difficult March for all participants in the housing market,’ says Ray Boulger
News

The real and ongoing ramifications of the global pandemic

January 28, 2021
pension
News

Intra-day pensions transfers increase in 2020

January 28, 2021
Save the dates and register now
Events

Save the dates and register now

January 27, 2021
Gamestonk: Memes and market movement
Finance on Social Media

Gamestonk: Memes and market movement

January 27, 2021
IFA Magazine News red
News

PIMFA: little regulators can do to stop fraud without action from Government 

January 27, 2021
Next Post
Bounce Back: HSBC redefines 24 hours

HSBC profits plummet 97%

New bespoke BR consultancy service from Hardman & Co

New bespoke BR consultancy service from Hardman & Co

Investec unveils 100th launch

Investec unveils 100th launch

Podcasts & Films

  • HAATCH Celebrating Entrepreneurs – Episode 2
    January 26, 2021
  • Put an atomic clock in your car, phone and on your wrist
    January 13, 2021
  • The Nexus Scale-Up Fund walk through
    December 21, 2020
  • Net4 x ARIE Capital webinar, hosted by CoInvestor
    December 18, 2020
  • How does Nexus Communicate with clients?
    December 18, 2020
  • Nexus Investments – Reasons for Advisers to be positive in 2021
    December 17, 2020

Today’s Most Read

  • EIS – looking to the future
    January 21, 2021

    EIS has been part of an adviser’s tax efficient tool kit for the last 26 years and now, more than £2 billion is invested annually

  • Square Mile’s 3D investing: new ratings and certifications in Q4  
    January 22, 2021

    Six funds awarded AAA 3D Impact ratings  Four funds awarded AA 3D Impact ratings  Three 3D Fund Certifications  3D Investing, Square Mile’s subsidiary dedicated to

  • Baillie Gifford Multi Asset Income Fund selected by Hargreaves Lansdown as investment pathways solution
    January 27, 2021

    The £82m Baillie Gifford Multi Asset Income Fund has been chosen by Hargreaves Lansdown as an ‘investment pathways’ solution for investors seeking non-advised drawdown. Investment

  • Gamestonk: Memes and market movement
    January 27, 2021

    @peter_IFAMAG reads Twitter so you don’t have to. There is one dominant finance story on Twitter today, and it surrounds the meteoric rise of Gamestop

  • Portfolio of BB Biotech AG as of December 31, 2020
    January 22, 2021

    Vaccines leading the way out of the pandemic – increased dividend of CHF 3.60 proposed BB Biotech performed well in 2020 in a volatile market

  • Retail investors pump the US stock market
    January 26, 2021

    @peter_IFAMAG reads Twitter so you don’t have to. Retail investors using internet site Reddit helped pump the price of Game Stop shares last night, leading

  • Are we in a bubble?
    January 27, 2021

    William Ryder , Equity Analyst at Hargreaves Lansdown examines market valuations “Veteran investor Jeremy Grantham at GMO recently published a widely circulated research article arguing that the

  • Ethical and sustainable funds among best performers in 2021 FE fundinfo Crown Ratings
    January 25, 2021

    In a year where ESG investing has hit the mainstream, ethical and sustainable funds have been among the best performers in the latest rebalance of

  • IPO and SPAC mania: what could possibly go wrong?
    January 25, 2021

    As investors throw money at IPOs and SPACs, Steve Russell, co-manager of the Ruffer Total Return Fund, says the promise of untold future profits should

  • Firm that turns footsteps into energy raises £2.4 million
    January 27, 2021

    Fast growing start-up, Pavegen, which has created patented floor tiles that turn footsteps into clean energy and data, has raised £2.4million in investment from Wealth

More Articles

Blackfinch Ventures: In the spotlight
Interviews

Blackfinch Ventures: In the spotlight

January 7, 2021
Making a positive difference at the cutting edge
Interviews

Making a positive difference at the cutting edge

January 7, 2021
Meet the manager of the M&G Global Listed Infrastructure Fund
Interviews

Meet the manager of the M&G Global Listed Infrastructure Fund

December 15, 2020
Par Equity is the bright EIS star of the North 
Interviews

Par Equity is the bright EIS star of the North 

November 23, 2020
What’s next for Mercia?
Interviews

What’s next for Mercia?

November 2, 2020
M&G Positive Impact Fund: Q&A with Ben Constable-Maxwell
Interviews

M&G Positive Impact Fund: Q&A with Ben Constable-Maxwell

October 21, 2020
People Behind the Product: Pippa Gawley, Zero Carbon Capital
GBI

People Behind the Product: Pippa Gawley, Zero Carbon Capital

October 7, 2020
People Behind the Product: Matthew Steiner, Stellar Asset Management
GBI

People Behind the Product: Matthew Steiner, Stellar Asset Management

October 6, 2020
People Behind the Product: Ewan Lloyd-Baker, Seismic Venture Partners
GBI

People Behind the Product: Ewan Lloyd-Baker, Seismic Venture Partners

October 5, 2020

About Us

​IFA Magazine – for today’s discerning financial and investment professional.

Published ten times a year, IFA Magazine has been winning a keen and enthusiastic following among Britain’s premier financial advisers, planners and paraplanners.

Newsletter

    Follow Us

    Linkedin
    Twitter
    Facebook-f

    © 2021 All rights reserved​ to IFA Magazine | Website by: Nivo Digital | Terms and Conditions

    Do NOT follow this link or you will be banned from the site!

    Adblock Blocker

    We have detected that you are using

    adblocking plugin in your browser. 

    Keep updated on the most important financial events 

    Make sure you are an informed

    wealth professional..

    IFA Magazine
    • News
      • In the Press
      • Politics and Finance
    • Featured
      • Podcasts & Films
      • Interviews
      • Events
      • Finance on Social Media
      • Jobs
      • MPS Report
    • GBI
      • Tax Efficient Investments
      • Open Investment Opportunities
      • People Behind the Product
      • GBI Magazine Issues
      • About GBI
    • Business
      • Regulation and Compliance
    • Magazines
    • The M&G Adviser Hub