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Aifa says menu has become complex

Aifa has criticised the FSA&#39s proposed menu saying it has become overly complex and is in danger of losing its key message in its response to CP04/3: Reforming Polarisation: a menu for being open with consumers. Aifa says an overly complex menu will not be read by consumers, also criticising it for having a disproportionate focus on cost, saying it should be about the value of advice.

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Wagstaff steps down as M&G restructures

Phil Wagstaff is stepping down from his role as M&G managing director (UK retail) as part of a wider restructure of the firm&#39s sales and marketing operation. Wagstaff is understood to be taking a break after seven years at M&G and 20 years in the industry. Under the restructure, John Goddard will now head both […]

£1m stealth rise in lifetime pension limit

The controversial lifetime pension fund has been silently raised from £1.5m to nearly £2.5m after criticism that the new pension regime favours final salary over money purchase. The increase in the limit – by up to £1m depending on the circumstances of the individual – stems from the Inland Revenue responding to criticism that defined-contribution […]

Cover Story

Watching the market from a distance to understanding the dyn-amics better, it seems obvious that there should be improved cover for certain classes of business. If we look at the current market, it is important to understand what the drivers are. Premiums are on the increase and cover is becoming scarcer and in many cases […]

Friends Prov optimises ethical stance

Friends Provident has established the stewardship safeguard optimiser fund, a unit-linked ethical fund that offers some protection to investors in Friends Provident&#39s investment portfolio bond. The fund is aimed at cautious investors with ethical investment principles. The aim of the fund is provide smoothed investment returns similar to with-profits by investing in an ethical portfolio […]

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