The Association of British Insurers has welcomed the FSA's consultation paper which sets out draft guidelines for providers on compensation for those who have been mis-sold mortgages. The ABI says the guidelines complement earlier advice given by the FSA Ombudsman and will be helpful to insurance companies dealing with complaints. It will provide a more detailed response to the consultation paper before the 17 January deadline.
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Investec calls up new mobile technology
However Lakey disagrees. He says: “The product literature is confusing. Not enough detail is provided regarding the charges, the reason for its offshore base and its dollar denomination.”Looking at the product overall, Chapman says: “To launch just another technology fund would have meant little press coverage. The marketing boys have therefore come up with this […]
FSA sets out guide to shortfall cash
Endowment holders will only receive compensation if they can prove they were missold a policy and lost out financially. Under guidelines issued for consultation by the FSA last week, compensation will be made on a “fair and consistent” basis but only if endowment policyholders can prove that they have lost out as a result of […]
All share index to beat FTSE 100 says M&G
Fund manager M&G says the all share index will outperform the FTSE 100 for the second year in a row. The fund manager says that since the beginning of 1999 the all share has returned 15 per cent compared to 9 per cent. Head of global analysis John Hatherly says: “During 2000, the FTSE has […]
mPower Europe buys out online IFA Sort
Sort.co.uk, the UK's only online IFA, has been bought out by mPower Europe. The subsidiary of US parent mPower plans to establish an online service providing virtual financial advice to companies. The takeover was announced by mPower Europe commercial director Ben Goss at the Sofa conference last week. In a debate with Aifa director general […]
Healthcare regulation amalgamation predicted for Gulf states
While Dubai is leading the way in terms of legislating for expat healthcare in the Gulf, Qatar, Abu Dhabi and others are watching and learning – that’s according to Jelf International’s director of international services, Doug Rice. He believes the pace of change in the Gulf states will continue and that some level of unified healthcare system will be introduced across the region.
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Kim North: Why is advice still such a no woman’s land?
I always try to check my Twitter feed over breakfast. Recently, a tweet from IFA Philippa Gee caught my eye. She had taken her time to attend an investment conference and found she was the only woman there. Comments followed that this occurrence is far too common. According to Unbiased, just 13 per cent of […]
Martin Lewis sues Facebook over scam adverts
Consumer champion Martin Lewis has today issued High Court proceedings against Facebook over scam adverts published on the site that use his name, picture or reputation. Lewis, who is the face of website Money Saving Expert, is bringing a lawsuit against the social media juggernaut for defamation seeking exemplary damages. Lewis says any money paid […]
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Can new tools solve the sustainable drawdown conundrum?
Michael Klimes examines if advisers can resolve all drawdown issues themselves or if a wider effort is needed