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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Independent governance committees at big-name pension providers are failing to safeguard the interests of savers and the FCA must take action, fresh research finds. In 2015, the FCA required contract-based pension providers to appoint IGCs to act as champions of savers’ interests. IGCs are required to publish annual reports to increase transparency and encourage comparison […]
The FCA is reviewing the content of its pension transfer specialist examination standard in light of recent issues with pension transfer advice, Money Marketing understands. The regulator does not offer qualifications but it does have a role in setting standards for exams and publishes “appropriate examination standards” guidance. Money Marketing understands a working group, mostly […]
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