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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Advisers waste five hours a week on menial tasks
Financial advisers waste almost five hours a week doing menial tasks, according to a study by adviser tech platform Advicefront. With an average hourly wage of £46.38, one hour in eight is spent on unnecessary tasks and costs advisers £220 per week in wasted time. The survey asked advisers how much time they spend weekly on […]
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Kim North: Let’s move away from ‘jobs for the boys’
Last week, the excellent Money Marketing Interactive Harrogate event took place, where I was fortunate enough to be part of the panel on diversity in advice. Last week also saw the 10th anniversary of the Lehman Brothers’ collapse. “If it had been Lehman Sisters rather than Lehman Brothers, the world might look a lot different […]
Pension transfers fall to £8.2bn in Q2
The total value of pension transfers fell from £10.6bn in the first quarter of the year to £8.2bn in the second quarter, the latest figures from the Office for National Statistics show. According to AJ Bell, this is the first drop in value of pension transfers since the second quarter of 2016. The figures coincide with […]