Smaller lenders have been slammed for undercutting intermediaries amid claims that they are harming brokers’ reputations.Mortgage Advisory Service head Stuart Wilson has criticised Stroud & Swindon for offering free legal services if clients apply direct but not if they apply via a broker. Wilson says brokers are duty-bound to turn business away if the customer can get a better deal direct. He says: “It harms the credibility that we have with clients if we withdraw offers.” Stroud & Swindon spokes-man David Greenleaf says: “The intermediary market remains very important to us.”
Former M&G global technology fund manager Greg Kerr has joined New Star to run the US equities mandates in its family investment accounts and work in its institutional team. New Star has also appointed Jorry Noeddekaer from BankInvest to work in its Asian team.
The VCT market is predicted to take 500m-600m this season as investors clamour to invest amid concerns the tax breaks will not be renewed. The Chancellor is expected to announce a decision on the extension of the 40 per cent income tax relief on VCTs in the Budget in March, with commentators differing over whether […]
West Bromwich Building Society
FlexiMortgage 10 Year Fixed
Scottish Widows Investment Partnership has parted company with its head of inter- national equities, Tim Scholefield, who oversaw funds worth 6.8bn. The firm is understood to be disappointed with the performance of its international equities team, particularly across its global equities funds. Swip has lagged behind the global growth sector, with its 32m global fund […]
The default retirement age (DRA) was abolished more than three years ago, yet new research from Jelf Employee Benefits suggests that the vast majority of employers still have some way to go to fully understand, comply and communicate the landmark legislation change that prevents older employees being forcibly retired on the grounds of age alone.
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The FCA should not be under the illusion a ban on contingent charging will necessarily improve the quality of advice, an adviser trade body has said. The Personal Investment Management and Financial Advice Association warns any contingent charging ban could have unforeseen consequences. According to Pimfa removing contingent charging could push consumers to either become […]
Michael Klimes looks at the FCA’s increasingly tough stance on Sipp providers and unregulated investments
Technology provider Moneyhub will now use Intelliflo’s application programming interface for its advisers. Integration onto the API will allow for advisers to access real-time information of client’s managed pensions and investments. Advisers will also be able to link investments they manage and see clients’ spending and savings patterns. The Big Interview: Moneyhub chief executive on […]