View more on these topics

3Xd sets up multi-option loan cover

3xd, the firm launched by former Paymentshield directors David Fulluck and Mike Riding, has launched a multi-option mortgage payment protection insurance policy underwritten by British Insurance.

The firm is also extending its general insurance range for intermediaries to include buildings and contents insurance and legal expenses/ identity fraud cover.

3xd was set up to rival Paymentshield, a firm which angered many advisers in October last year with its decision to stop paying trail commission to brokers no longer regulated by the FSA. Paymentshield was bought by GI giant Towergate in the same month.

In November 2006, disgruntled Paymentshield brokers, led by Riding’s brother Gareth, ex-marketing director at Paymentshield and current 3xd employee, formed an action group to recover thousands of pounds of lost commission.

3xd managing director Fulluck has reassured intermediaries that 3xd will pay advisers commission for the life of the policy even if they decide to leave the industry.

He says: “We want our intermediaries to be well rewarded for supporting our business and our major focus will be on providing long-term commission security.”

Recommended

Unregulated funds category for Jersey

Jersey is introducing an unregulated funds category in a bid to encourage hedge fund managers to domicile their funds on the island.

LifeQuote software boosts protection case sizes at LV=

LV= says protection business at its advisory arm has increased by 50 per cent since it began using LifeQuote’s Intelligent Protection software last June.The insurer says its case size has increased significantly because Intelligent Protection allows its 53 advisers to recommend a more comprehensive range of products in a shorter space of time.Financial advice services […]

PBR: Fidelity says CGT changes are a “shot in the arm” for long-term savings

Fidelity says the Chancellor’s decision to set capital gains tax at a flat rate of 18 per cent means investors in equity funds are big winners and says this move could boost long-term savings.Chancellor Darling set out the changes in his pre-Budget report yesterday and Fidelity says investors in equity funds held outside of a […]

FSA admits it needs to learn Northern Rock lessons

The FSA says it has serious lessons to learn in the aftermath of the Northern rock fiasco particularly around stress testing of extreme situations and probability analysis.Speaking at the Treasury select committee meeting today, FSA chief executive Hector Sants said the episode showed the regulator needed to look again at its supervisory processes.He said probability […]

Changes to early exit pension charges

In November last year, the FCA announced that from 31 March 2017, early exit pension charges will be capped at 1% for those customers who are eligible to access their retirement savings from age of 55. The rules also state that for new personal pension plans started after that date, or on new increments into […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com