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20 pc of insurance brokers could go says Bankhall

Bankhall has estimated that up to 20 per cent of general insurance intermediaries could go out of business once statutory regulation begins on January 15, 2005.

The IFA support services group says that one in five firms will fail to meet the requirements when they apply for FSA regulation beginning next year.

However, Bankhall says the gap left by these firms&#39 exit will create substantial opportunities for those capable of establishing compliant procedures.

Group sales director Shaun Godfrey says: “It is time for action not complacency, livelihoods are at stake here. Comprehensive systems and procedures need to be put in place to ensure compliance come D Day and the sooner this starts to happen the better.”


HSBC offers early release triggers on FTSE plan

HSBC is offering a structured product linked to the FTSE 100 which features a series of early release triggers which return investors&#39 full capital plus growth after three or five years.The capital and growth plan offers investors 100 per cent growth in the FTSE over six years, with the final return based on the average […]

Are IFAs past their sell-by date?

Last year&#39s acquisition bonanza has virtually fizzled out, leaving parent-seeking IFAs left without buyers. After three years of bear markets, prospective buyers no longer have big appetites for making acquisitions and there is a glut of IFAs looking to sell, stemming from concerns over the costs of administration, regulation and professional indemnity insurance.Aegon has so […]

Exploding IFA myths

I recently took up an invitation by the London Insurance Market Professional Indemnity Forum to provide a more comprehensive ins-ight into the IFA market to help in its continual quest for education and to challenge a few commonly held myths about IFAs.It was quite clear from the outset that the insurance market representatives were cynical […]

Insight appoints new members to sales team

Insight Investment has appointed two new members to its retail sales team. Neal Bailey joins as head of IFA sales from money management company Lord Abbett, where he was marketing director. He will report to business development director Gordon Phillips. Jeremy Barnett joins as regional sales director, reporting to Bailey. Previously, he has held positions […]

Tapering of annual allowance – adjusted and threshold income

The definitions of adjusted income and threshold income used to determine whether, and to what extent, someone’s annual allowance will be reduced can be confusing.  Here we try to make sense of it all. The annual allowance will be reduced for high income individuals from 6 April 2016.  Our previous article Tapering of annual allowance […]


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