Lloyd Expert Consultancy Ltd

Why funds fail

In this short article we discuss the common trends and details on why funds fail in the marketplace.

Another ACD merger

What does it mean if you are an existing sponsor with an ACD but being asked to Novate. What options are available? In this article we cover what managers, sponsors and boards need to consider.

Predictions for 2025

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UK Government impact on investment solutions and unitisation (inc CGT)

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300% increase in queries from firms regarding Unitisation and why this is a good solution

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Streamlined Investment Solutions from MPS

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NURs v UCITS COLL Rule Differences

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Benefits of Unitisation

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Which? Platform

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MPS to OEIC Conversion

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IMPower Fund Forum Monaco - Guest Speaker / Moderator

We are delighted to be speaking and moderating at this annual important event for Global Asset & Wealth Managers.

Computer Generated UK General Election Prediction

Based on AI data and computer generated models, completely mathematical, the following predicted election results have been provided as at 10th Jun 2024...

UK General Election - effective on markets and investment decisions

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Basic errors why fund managers fail to sell their fund, getting the basics right

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Does the use of AI for active fund managers reduce the cost?

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FCA regulator role in 'Woodford', recommend Judge appointed review

We have been asked a number of times our view on the regulators role in the 'Woodford' situation that raises some very serious and valid questions...

Is there any value in the Value Assessment

Many clients and managers are questioning what value, if any there is in the Assessment of Value given there are 10 different varieties and each one assesses value in a different way using...

Predictions for 2024

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More regulation planned from the FCA on ACD Oversight

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Technology Providers in Financial Services Failing

Here we provide a list of the technology providers in financial services and scoring across ability to deliver and performance.

Options for when an Authorised Corporate Director exits or sells out

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Impact of poor Assessment of Value Assessments starting to filter through to investors choice

Low scoring or funds that have been identified as not providing value for money are now starting to see the impact of this assessment that may not be entirely fair in comparison to relative...

Independent ACD number to drop below double figures...

As predicted by Lloyd Expert Consultancy Ltd at the start of 2023, the number of independent ACDs will drop to 9 by the end of 2023...

Passporting Rights... What does a cross border solution look like...

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Role of Depositary and Custodian, the future outlook

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FCA v ESMA

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Calculating Capital Adequacy Requirements

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Value of an ACD in detail

Whilst many Sponsors and Fund Managers will be more than aware of what their ACD does and how they perform, this can sometimes be misunderstood for what value and services the ACD should be...

More ACD activity on the horizon...

With a number of corporate activities in the external ACD marketplace, the number of options and providers is becoming smaller and more specialised as we move into M&A season...

Consumer Duty Deadline is looming...

We provide some hints and tips to quickly become compliant with the consumer duty requirements on the more challenging elements...

European interest in UK ACD Marketplace

Many European providers of MANCO services still see huge value in entering the UK Marketplace to become an ACD also for clients who want exposure on both sides of the water.

FCA regulation proposed changes for the ACD and marketplace

The first draft of the FCA proposed changes to the ACD marketplace has been drafted and should hopefully result in some positive oversight changes to the fund ranges.

Rishi Sunak Discussion about the Economy and Financial Services

Really great to catch up with Rishi Sunak, Prime Minister who outlined his focus and support for Financial Services and the...

New large ACD on the horizon...

With news coming through that the largest ACD is to be aquired by a UK existing ACD creating in effect the newest largest ACD, we look at what this may mean for the industry and whether or not...

Assessment Of Value (AOV) Round 4, what have we learnt

Having now witnessed and reviewed over 400 AOVs across the marketplace it is evident that we are still someway off the ideal and perfect AOV both in content, categories and grading (rating)....

FCA Regulation Change predictions for 2023

Following a year of normality in the sense of no longer a worldwide pandemic controlling everything we do, we have had a year of finding how business as usual will look for the government and...

Will the new FCA regulation be able to deal with failing ACD oversight in the future?

In this article we discuss the new FCA regulation that aims at tightening the rules, role of the ACD and the possible actions which may become enforceable, should the Fund Manager or ACD fail....

ACD Capital Adequacy will increase possibly upto 5 times...

In the latest signs from the regulator it is clear that the level of Capital Adequacy will increase and could even multiple as much as 5 times the current level in order to provide sufficient...

Gaps and weaknesses in the next round of Assessment of Value (AoV)

With the recent publication of many funds AoV we once again see a common theme in gaps and weaknesses across 80% of the funds in the marketplace.

Meeting with the Prime Minister on Financial Services

Delighted to have met with his RT Hon Rishi Sunak at a recent event where he was very well informed and equally concerned about the challenges the UK and Financial Services industry...

Common failings by the Authorised Corporate Director (ACD)

In this article we provide a comprehensive list of elements that most ACDs are failing in and why the regulator (FCA) is right in insisting on better standards...

Implementation guide to Consumer Duty...

We are offering all clients a free implementation guide for consumer duty in line with the regulator (FCA) requirements.

Why, now more than ever, its best practice to review the Authorised Corporate Director (ACD) market at least every 3 years...

We are often engaged by clients regarding the role and options of external ACDs and moreso since the high profile case why having an understanding and alternative ACD in mind is useful.

Truly honoured and privileged to pay respect to her Majesty

Lloyd Expert Consultancy were this evening honoured to pay respects to her Majesty Queen Elizabeth II, while lying in state, on behalf of Lloyd Expert Consultancy, our family and all clients....

Lloyd Expert Office will be closed for Her Majesty Queen Elizabeth II

Monday 19th September 2022 - Office will be closed as a mark of respect for Her Majesty Queen Elizabeth II...

FCA Regulatory ACD redress…

Following the recent indication by the FCA regulator that an ACD should prepare for redress, in this article we explain what it means to redress investors and what the regulator is relying on...

May you rest in Peace, Your Majesty

5 Years - Lloyd Expert Consultancy Ltd

5 YEAR MILESTONE A huge thank you to all our clients, sponsors and fund managers who have been and many who continue to be associated with Lloyd Expert Consultancy Ltd.

ACD Marketplace Changes

With yet another merger of ACDs muted last week, we answer the important questions on what this means for the future of ACDs and whether or not this was all part of the regulator plan to reduce...

Consumer Duty - Will impact all

With a short delay from the FCA on the effective roll out of consumer duty it is still a requirement for firms to ensure they are addressing all the elements that this looks to achieve.

The role of a NED for Fund Boards

In this article we outline the role of a NED on Fund Boards, what questions they should be asking and what information they need to make an effective judgement.

Why AoV is always misapplied

In over 87% of the 2,000 funds now been reviewed we have found that AoV has either been misapplied or overscored due to misapplication in one or more of the 7 key criteria areas. The often sea of...

Regulator view on Fund depositary choices

Following a recent meeting with the regulator it was interesting to note that the regulator does see a value in an independent depositary model in the world of fund oversight.

NED cost, Experience and ability to effectively challenge in the boardroom

Having worked with over 40+ boards to review and assess the effectiveness of how they are run and ensure best practice is understood one of the key questions that management ask is do we have the...

Lloyd Expert Consultancy Ltd - No longer work with Russia

Given the current situation in Ukraine and dreadful impact to the citizens and civilians we will not work with any Russian based clients.

Exclusive - Lloyd Expert Consultancy & FCA Discuss AoV

it was an honour and privledge to host the Financial Conduct Authority (FCA) for an exclusive discussion on Assessment of Value (AoV) and Q&As to what is important for Fund Managers, ACDs (AFMs)...

Fund Forum UK - Lloyd Expert Panel Discuss - Assessment of Value (AoV)

Delighted to chair the important discussion on Assessment of Value (AoV) with a number of experts to hear their view, application and differences of oppinon that certainly made for a lively...

FCA handed new rule setting powers, goodbye ESMA

An amazing opportunity has arisen today in that the FCA has been handed the ultimate mandate enabling them to write or rewrite rules for the sector.

UK Fund Forum - AoV and putting the Fun back into Fund Management

Lloyd Expert Consultancy Ltd is delighted to support the first UK Fund Forum at the Hilton in London on Monday 29th November 2021 and 30th November 2021.

What fund buyers ought to consider and its not all about ESG...

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Top 10 areas of consideration IFAs/Wealth Managers and Sponsors use when finding a fund manager to run thier mandate

Having advised a number of IFAs, wealth managers over the years and carried out a selection process of fund managers to run the money, we have combined, created, the top 10 consistent areas and...

Thinking of launching a fund range, what is the viability level...

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UK Regulator FCA v European Regulator ESMA

The key differences we have come to learn in attitude and approach to regulation of the fund management industry. As Europe look to adopt the Assessment of Value (AoV) on the fund ranges what else...

FCA S166 - Reputational or Financial Damage for Fund Managers / Sponsors?

Having been asked by a number of managers recently about the ACD market review and been told that they have had an indication the FCA were taking a stronger stance including consideration of...

Challenges of total ESG exclusions and what is acceptable to investors

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Fund at risk due AoV which is dependant on the ACD...

Unfortunately we currently find ourselves in the situation that sponsors and managers AoV of the fund and its remedies are down to which ACD the fund is with.

UK Investors in European Funds what will the future hold as a result of Brexit

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Assessment of Value - Key areas Funds need to take note

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FCA ACD industry review...

In response to the FCA ACD findings and publication today (see link above), as leading experts in the ACD market place, much of the FCA findings will come as no surprise to the industry regardless...

ACD Review, the FCA needs to go deeper and spend more time understanding the industry

Following the FCA engagement into the host ACD marketplace in December 2020, it can only be seen as a positive step that they are starting to try and understand the industry and how it has...

Recommendation: Fund failures, ACD take over, Fund suspension or put on risk, what can the FCA do

We believe in order to best serve the investor, industry credibility and integrity as a whole, when a fund is put at risk or suspended the ACD who manages the oversight of that fund should resign...

A definitive guide to determining if MPS managers no longer need to pay VAT on an MPS service

Brooks MacDonald, Brewin Dolphin, 7IM and AJ Bell are just a few familiar names you may recognise as recently and successfully removing the VAT from the MPS service it provides. In this guide and...

FCA ACD change predictions for 2021

With the FCA engaging with all host ACDs over the December period there will be a raft of changes and recommendations that will be concluded over 2021 which sole aim should be to protect and act...

How confident are investors that there money is safe with a fund manager?

After conducting a poll sample we explore what a group of investors think and feel about how safe their money is by fund managers in todays climate...

ACD Fund Value Assessment - Challenges

The majority of issues in relation to the value assessment is the conclusion of the assessment that results in the Authorised Corporate Director (ACD) insisting that the fees, Annual Management...

Is 2021 the year of consolidation for ACD and ManCo services?

Let us not underestimate the amount of work, responsibility and risk that the fund oversight function whether as an ACD or ManCo takes on versus the revenue it recieves from funds.

'Value for Money' considerations that must be added by the ACD to the FCA 7 categories

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FCA Review - What is the point of the depositary, if nothing changes?

The time has come for the role of the depositary to be scrutinised and questions asked is the current model fit for purpose?

FCA concerns with the current ACD model and indication of what measures it is looking to put in place

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Crucial role the depositary plays or should play in the oversight and management of funds

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Stay Home | Protect the NHS | Save Lives

Guide to selecting the right manager to manage your mandate

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What does a good ACD do?

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The top 5 investment platforms for investors and reasons why...

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A list of the 15 current active external ACDs...

A large number of regular queries come into Lloyd Expert Consultancy Ltd in relation to the ACD marketplace and who is currently operating.

A comprehensive guide to the differences between using an ACD and ManCo

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It is not the time to criticise the Financial Conduct Authority (FCA)

The ongoing investigations by the FCA isn’t being helped by the inaccurate and political interference of John McDonnell who recently unfairly judged the FCA ’a sleep at the wheel’ when overseeing W...

Considering in-house ACD solutions? Becareful...

As a result of the heightened awareness surrounding the ACD industry and important role it plays, a number of managers are now starting to look closely at the ACD which is overseeing the fund and...

Different outcomes and impacts to the election results

A simple clear decision tree outlining the implication of the various election results.

Cyber Security and how being connected can raise the level of risk

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Why help is at hand and there is a future for fund management

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The FCA changes predicted for the fund management industry in 2020

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Liquditiy: Suspension - Wind up - Liquidation, is this a sign of things to come...

The industry needs to be very careful not to overreact in the current climate and be mindful of the message enforcement actions give to the investor under the current rules and regulations.

An infographic explaining the oversight model and the reason why the Fund Manager is not always at fault

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A fund managers guide to stress testing and a useful model to test your fund today

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Predictions for 2020 and what to look out for...

Our Lloyd Expert Ryan Johnson outlines the predictions for 2020 within the Asset Management and Wealth Management sector along with a run down of what the regulator will concentrate on. Full...

A list and explanation of the current FCA rules that need to be reviewed for the sake of the industry and investor

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Investors long term view and patience is crucial to understanding investment mandates

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Why now is the right time to review the sponsorship and IMA agreement

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The solution to an effective oversight of Funds

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Navigating through the current world of Fund oversight

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Fund Managers strive to achieve the objectives for the benefit of investors

In this article I will outline that in fact all fund managers / wealth managers that I have worked with actually care a great deal about the investor and achieving the Fund objectives. They do...

The advantages and disadvantages to using an external ACD

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Now is the right time to review the Fund Management industry

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Interesting facts about Platforms

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External ACD providers step up a gear

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Ability to exit an ACD and the fees involved need to be scrutinised by the FCA...

Too many times I have worked with clients who upon reviewing the ACD and deciding to switch they have then been presented with the cost of exit which is excessive and unjustified.

What is the role of depository when managing a fund?

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The fundamental issues of Fund oversight in the UK...

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Fund Management fees and oversight costs should remain the same or increase...

In this article we explain the average costs of running a fund, what assurances investors have and with the increase in insurance premiums and compensation levels the fees for fund managers and...

What is involved in switching ACD and ancillary providers?

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Conflicts throughout the oversight of Funds. The ACD, Depositary and Fund Manager

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An essential guide to new firms converting MPS to Funds

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External ACD marketplace competition is plenty

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Fund Managers seek Alpha with the best intentions for the investor

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Why it is important to carry out a review of your ACD at least every 3 to 5 years

This article discusses the different models and approach ACDs take within the UK. As a marketplace there are currently 15 active ACDs offering services externally and it is important to understand...

Should an internal ACD model be banned?

In the event that regulations are put in place requiring all Fund Managers to outsource the ACD functions, we look at the reasons why such a decision could be made in the future and the billions...

The bravest Carol Singers in Britain

The charity that Lloyd Expert Consultancy Ltd supports outline the good work it does at these times which are particularly difficult for many who have lost loved ones. Grief Encounter...

Value Assessment

The importance of an effective review and what is key to financial services firms...

UK Financial Services Key items the Government must get right when negotiating Brexit...

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General Data Protection Regulation (GDPR) - Whats it really all about? Over-engineering, becareful of the cons...

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Fair Value? An assessment and advice on approach for ensuring the best value and selection is achieved

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Brexit Impact on Financial Services for the UK - Much stronger and more positive all round is the message...

I write this article as my fifth client query is raised by a European client asking about entry to the UK Fund Market and how to launch funds within the UK, attract distribution. Going the other...

Converting a model portfolio service to an OEIC: UCITS fund range, why it makes sense...

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ACD – It will have you in tiers…

Ryan Johnson - Lloyd Expert Consultancy Ltd. Ryan is the leading expert across the industry for selecting, changing and managing an Authorised Corporate Director (ACD) for clients within the...

Changing ACD should be like changing your bank account so why do so few firms change ACD or at least investigate a change?

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Considerations when selecting an ACD

The choice of independent ACD when unitising client portfolios or launching a new product to the market for wider distribution can be a difficult one to make.

Pressure on Management Fees from clients...

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Are IFAs prepared or running the gauntlet in the hope they never get caught?

With MiFID II and compliance requirements only becoming more strict are IFA's equipped for the changes and how many are running the 'gauntlet' on the basis the FCA won't 'knock' at their...

Are platform firms finally waking up...

As technology advances and new entrants into the platform space begin to do business charging as little as 10 bps for their service when well established providers still continue to charge upto 31...

Good SIPP providers and why the industry has gone from 120 SIPP providers to just 20...

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A minimum of 2 Non-Executive directors required for fund managers...

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