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70 per cent opt for cash CTFs

When offered the choice between cash and stakeholder Child Trust Fund accounts 70 per cent choose cash, according to the Building Societies Association.
It says in June over 50,000 CTF accounts were opened by the eight providers of both options with 31,000 being cash CTFs.
The BSA also says net receipts into cash CTF accounts were over 12m in June, bringing the total amount placed in cash to 51m.
From July there are two more providers of cash CTFs, Leeds and Holbeck Building Society and Monmouthshire Building Society bringing the total number to 10.
BSA head of savings policy Brian Morris says: “It is still early days, but the BSAs second set of figures show that when given the choice, most parents are choosing cash CTFs for their children.”


Scott defends job losses after twin takeovers

John Scott & Partners says the redundancies as a result of it buying Charcol Holden Meehan and Charcol Aitchison & Colegrave are necessary because of duplication of roles. The firm says some staff went because they did not have the skills to develop long-term relationships with high-net-worth clients in a fee-based environment. At the end […]

Workshop was the perfect therapy

Recent events have reminded us that when all things are considered, money is not the most important thing it life. Several years ago, I attended a two-day workshop with George Kinder on the Seven Steps to Money Maturity.

Fair-minded practices

Putting customers’ interests at the heart of their business structures should be a basic requirement for all firms, said the FSA in a press release earlier this month. A firm must pay due regard to the interests of its customers and treat them fairly.


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