I cannot believe that anyone in the financial services sector would consider it good news that John McFall is to continue as chairman of the Treasury select committee.If his knowledge of financial services is evidenced by the question he asked at the recent Fabian Society meeting on the subject of the Politics of Pensions Reform, then the old adage that a little knowledge is dangerous is proven. Posing a question to Robert Wylie of Scottish Widows, it was abundantly clear that McFall has no understanding of invest- ment asset classes and even less understanding of the commercial world of financial services.
The Association of British Insurer’s consultation on clarity for protection application forms has received app-roval from independent adv-isers and providers. The draft guidelines from the ABI are intended to imp-rove clarity of wordings and warnings on insurance applications to enable better disclosure and reduce contes- ted claims. Some of the major chan- ges recommended to […]
City-based stockbroker Wills & Co is promoting the advance funds, a fund of enterprise investment schemes.
Mortgage Advice Bureau signs up Enfield-based estate agency chain Lanes to its branch network. The new sign-up adds five new branches to the network, to which MAB will provide an advisory service.MAB has also brought five consultants and two administrators to the chain. It now has about 250 outlets across the UK. MAB chief executive […]
The total deficit of UK companies’ final-salary pension plans stands at 100bn, according to analysis by Deloitte. This is an improvement from 130bn at the start of 2005, aided by the 10 per cent rise in the stockmarket since January 1. Deficits among FTSE 100 companies have decreased to 52bn from 65bn at the start […]
Johnson Fleming employees have raised more than £400 for their chosen charity of the year, CLIC Sargent, with a series of fundraising events.
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Pimco has followed in the footsteps of its US rivals Vanguard and JP Morgan Asset Management to announce it will absorb research costs under Mifid II. The California-headquartered bond manager would not comment on the hit to revenues, Financial News reports. JPMAM confirmed last week it would absorb the costs when the European regulation comes into place at the […]
What does “restricted” advice really mean nowadays? Some see this as a question of semantics, others one of outcomes. Either way, the debate was reignited again a few weeks ago by consumer group Which? and its probe into St James’s Place. In a mystery shopping exercise, it found three of the 12 advisers visited did not […]
Murray has emphasised his commitment to the business