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Albion Management Services suspended by PIA

IFA Albion Management Services, formerly Albion Investment Management of 19 Olive Street, Sunderland has been suspended by the PIA for offering advice despite not having any authorised individuals.

The firm was also found to be giving inaccurate information and misrepresenting the size of share holdings.

The regulator has hit two IFA firms with fines for pensions review failings. IFA Alpha Delta of Delta House, 56 Ash Hill Crescent, Hatfield, Doncaster has been fined £12,500 for review failings and also reprimanded for failing to comply with an award made by the PIA Ombudsman and IFA Douglas Deakin Young of 22-25a Sackville Street, London was fined £20,000 and ordered to pay costs of £1,995.

The PIA has also announced the membership of IFA Complete Financial Services of Hillside, Bishops Walk, Shirley Hills, Croydon because it no longer has any registered individuals employed.


L&G goes for the base rate

The exclusive self-certification tracker mortgage from Legal & General’s Mortgage Club is set at 0.5 per cent above the Bank of England base rate for the first three years of the loan.This gives it a payable rate of 4.5 per cent. After the first three years it will switch to 1.75 per cent above the […]

Product matters

Religion and capitalism make uneasy bedfellows and by and large the two would much rather have nothing to do with each other. However, deities are nothing if not unpredictable and even the most devout of followers may want to make provision against an inconveniently prolonged sojourn in this temporal realm. There are around two million […]

SocGen predicts market recovery

SocGen Asset Management is predicting a recovery in the tech market, following the pessimism after the September 11 attacks.The fund manager believes that although many investors remain nervous about tech stocks, the sector is expected to offer market leading earnings growth.It believes the market has turned a corner and tech will follow recovery in the […]

Myners leaves Gartmore after 15 years

Gartmore chairman Paul Myners is to quit the fund management firm this week, after 15 years at the company.He is now tipped to be in line for a high profile Government job, following his review of institutional investment for the Treasury, which was published earlier this year.During his time at Gartmore, he oversaw the sale […]


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