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ABI welcomes Treasury approach on broking

The ABI has welcomed today&#39s Treasury announcement on its approach to bringing clarity and accountability to the payment for broking services by pension funds and other investors.

Consultation on this aspect of the Myners report identified what were described as complex competition issues which the Government believes should be tackled

ABI head of investment affairs Peter Montagnon says: "The great advantage is that we shall now have a much better overall picture of what is really going on, and an opportunity to develop and implement improved structures to ensure the availability of clearer information about transaction costs."


Scottish Life sales up 22 per cent

Scottish Life new business sales were up 22 per cent EPI for the first half of 2001 to £59.1m from £48.4m. Total pension sales were up 30 per cent £56.7m from £43.6m EPI and employer-based new business grew by 40 per cent to £34.1m from £24.2m. Group pensions increased 17 per cent to £16.8m from […]

Price goes before a fall in scramble for distribution

IFAs are facing a tough dilemma as the scramble for distribution heats up and life offices start to approach firms with open cheque books. In last week&#39s Money Marketing, it was revealed that Clerical Medical representatives, at least at the level of broker consultants, have app-roached at least one national IFA and other smaller firms, […]

L&G active fund head quits

Legal & General’s head of active fund management Peter Knapton has quit after seven years at the firm. Knapton says his split with L&G was amicable, although as yet he has no job lined up. L&G is now left searching for two senior staff in its fund management arm, having failed to replace its head […]


“Yes. The one per cent regime will enable banks to work out ways to sellthat are more cost-effective than traditional methods.” Kim Barrett, KS Barrett & Associates “Quite possibly. The bancassurers will project themselves as the boys tobe with, offering the whole market, when in fact they won&#39t be.” Richard Millen, Wealden (South) IFA “No. […]


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