AIG Life is extending its multi-manager fund of funds range with a new managed income fund. The fund will provide an income-oriented portfolio with a gross yield in the range of 1-2 per cent over the base rate. The fund's assets will be in a combination of externally managed funds from AIG's range in the UK corporate, high yield corporate, government and global bond markets as well as the commercial property sector. The fund may also invest up to 20 per cent in UK equity income funds.
The FOS has predicted that structured products could become the next misselling scandal to follow from the current spate of mortgage-endowment related complaints. Speaking at the Building Societies Association's annual conference in Manchester, Ombudsman Caroline Mitchell said she revealed numbers of complaints about these products have been increasing saying she is currently receiving around 70 […]
Durlacher analyst David Pannell says the breakdown of merger talks between Inter-Alliance and Berkley Berry Birch demonstrates the significant issues facing the IFA industry. He says personality, misselling liabilities, and the inability of the sector to demonstrate a profitable business model all lead to the decline in talks. Pannell believes until the larger IFAs consolidate, […]
I recently completed the London Marathon, which was quite a painful experience. As I was trotting around, trying desperately to think of anything other than the ruptured hamstring I acquired at 19 miles, it occurred to me that setting up and maintaining an IFA practice in today's financial services industry is not too dissimilar to […]
Mortgage and property industry representatives were brought together with members of the Houses of Commons and Lords last week in a meeting hosted by the National Association of Estate Agents which looked at the Government's controversial home information packs. The meeting was chaired by Labour peer Lord Corbett and views were heard from the CML, […]
International private medical insurance (IPMI) can be a complex business, especially when you need to find cover that complies with all the local legislations and regulations of a chosen country.
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A decade ago, I went through the pain of switching utility providers. Deterred by a catalogue of errors, it is only recently, after a house move, that I tried again. I was pleasantly surprised by how easy it was. It has made me think about how complex and expensive it is to switch in financial […]
It has never been more important to encourage saving. But advisers know only too well how challenging the complexities of the UK savings and pensions landscape make it for people. Any trends towards simplification would be welcome, but unfortunately recent developments have moved in the opposite direction. Take Isas, for example. Their simplicity has always […]
The FCA has confirmed it will consider if there needs to be better guidance around when it and the Financial Ombudsman Service can share information ahead of the FOS making its final decision. In a Complaints Commissioner final report, published on its website yesterday, commissioner Antony Townsend invited the FCA and FOS to discuss when […]