Fund Distribution Limited says over 97 per cent of investors have accepted its first distribution offer and 113m has been paid out to around 24,600 investors. This covers losses totalling 284m and represents a recovery of 40 per cent of losses. FDL will make its second and final distribution of 29.5m, equivalent to 10p in the pound in the fourth quarter before winding up.
Mortgage Express is offering a range of two year fixed rate deals on self certification mortgages.It says the move comes in direct response to recent broker research indicating strong consumer demand for two-year deals.The range includes a set of discounted deals which revert to base rate plus 2 per cent after the fixed period. They […]
Canada Life has announced it will temporarily close its Canlife Fidelity special situations fund a week before Fidelity splits the 6bn fund into global and Uk mandates on September 18.Canlife currently has 4.9m invested in the Fidelity fund and will close the fund to new business and inward switches one week prior to the split. […]
Pink Home Loans is the latest network to go on the acquisition trail. Pink says it in discussions with a number of companies, reflecting the trend towards consolidation in the sector. In April, Home of Choice revealed it was talking to sev- eral networks and last month confirmed it will make at least one acquisition […]
Aifa is on a collision course with the Treasury after urg- ing advisers to continue recommending alternatively secured pensions to clients despite warnings from the Treasury that it will scrap Asps if they do. The Treasury is now considering all options to ensure that Asps are used exclu- sively for religious groups with moral objections […]
The strong dollar is hurting exporters, but the domestic economy is growing, the banks are strong and consumers are paying off their debts, says Cormac Weldon, head of Artemis’ US team.
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As someone training to be a cricket umpire, fair play matters to Fortitude Financial Planning director Chris Bowmer. Doing the right thing for clients is something he has adhered to from the start of his career, even in a 1980s sales environment with nothing to gain by delving beyond a client’s surface requirements. While he acknowledges […]
Fund managers who have helped pay compensation over the collapse of life settlement bond provider Keydata will receive a £12m refund, the Financial Services Compensation Scheme has announced. Keydata’s management has been embroiled in a multi-million-pound legal battle with the FCA since it collapsed in 2009. The total bill for compensation stands at more than […]
With no employer to fall back on, the self-employed are on their own when it comes to retirement saving. Irregular income patterns can make it harder to save regularly into a pension and commit to locking money away until age 55. Those who are building a business may see that as their biggest asset and […]