The AA has set up an IHT planning operation and will offer advice on wills and trusts.The motoring giant is also launching a conveyancing arm as part of its wider drive to build on the legal services operation it started earlier this year. The move means that the AA’s huge brand appeal is likely to come into direct competition with advisers. The IHT service is run by Skipton Financial Services, the conveyancing by Hammonds Direct and the wills and trusts advice by law firm Irwin Mitchell. These services could all be run direct after the Legal Services Bill, which will allow non-legal entities to run legal operations, is introduced in 2008. AA Legal Services head James Molloy says: “The AA hopes to make legal services more accessible to the public. At present, we work with a panel but once the Legal Services Bill allows companies to provide these services direct, we will con-sider bringing the service in-house.” Mazars Financial Planning chief executive Paul Willans says: “What is important is not the size of the operation or the brand but the quality of advice. It is competition for advisers but there is no reason why it should not be healthy competition.”
Swiss Re is to cut 2,000 jobs by the end of 2007 as part of its continuing integration of GE Insurance Solutions to the business.The reinsurer announced the staffing reductions today and said a large number of losses would be through “natural attrition”.Swiss Re completed the acquisition of General Electric’s insurance arm for £3.5bn in […]
So the investigation into the network four, as many have called them, is over, but the gossip is unlikely to die down just yet.
Employers need to pay between 9 and 10 per cent into pensions schemes on top of employee contributions to close Britain’s £27 billion savings gap, says financial services consultant Mercer Oliver Wyman.
Aifa’s call for the introduction of limited or focused advice on specific product areas has been welcomed by many in the industry as long as important caveats are established.
Edenred has partnered with Johnson Fleming to launch an auto-enrolment solution for small to medium-sized enterprises (SME) that will help employers fulfil their pensions obligations.
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