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Albany International launches Tep based product

Albany International is launching a new traded endowment policy based investment product on September 1.

The Value Managed Account will invest wholly in the Tep Value Fund which is linked to the Low Risk Asset Fund managed by Scottish Value Management.

It will primarily invest in Teps, although other types of low risk investment opportunities are not ruled out.

The fund has an initial charge of 1 per cent and an annual management charge of 1.25 per cent.

Commission is available at up to 7 per cent initial and 1 per cent renewal.

Albany International director and head of sales Paul Whitaker says: &#34This new product is the latest step in revamping and developing products which are innovative, easy to sell, easy to understand and easy to administer.&#34


The Money Store sold for £325m to Cabot Square Capital

Cabot Square Capital the private equity house is splashing out £325m to buy The Money Store.The London-based house moved in to snap-up the sub-prime lender after buy-out talks between The Money Store and its arch rival Kensington Mortgage Company collapsed in June.The Money Store which is valued at £425m was put-up for sale in May […]

London York announces new appointment

Specialist pensions IFAs London York Fund Managers has appointed Dorothy Wheeler to its pensions team.Wheeler who joins the firm as senior pensions specialist, has 30 years experience in the industry. Her main areas of expertise are employee benefits and self-administered pension schemes.London York pensions director Richard Byfield says: &#34Wheeler brings to the team extensive experience […]

Network members to diversify in wake of stakeholder

Networks are to encourage members to diversify into general insurance and protection as commission from pensions dries up in the wake of stakeholders. They believe many members will abandon personal pensions as low margin stakeholder style products are launched prior to the stakeholder&#39s introduction in April 2001.Top networks are forecasting this, and other low margin […]

FSA to run compliance workshops for small IFAs

The FSA is launching a series of compliance workshops for small IFAs.The workshops to be held this autumn are designed to provide IFAs from firms with up to 9 advisers, an understanding of key compliance issues.They will attempt to demystify PIA rules and provide practical guidance on how to address and avoid the main compliance […]


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