London Life has come under fire after underestimating the transfer value on a client’s pension fund by £70,000. Intelligent Pensions tech-nical director David Trenner received the first transfer value of £126,544.37 on January 14. Trenner queried the figure and got a letter on June 12 restating the figure at £195,049.56 – a 36 per cent […]
Industry veteran Patrick Cooper’s new venture Harrington Cooper has been signed up to distribute City Financial’s multi-manager funds though IFAs. Cooper, formerly head of retail at JO Hambro Investment Management and Axa, will act as an introductory appointed representative of City Financial. The company’s diversified absolute return fund, managed by North’s John Husselbee, will shortly […]
Independent financial advice cannot be completely exclu-ded from Personal Accounts and there must be a facility for individuals to access such advice if they feel they need it. That was the message at the summit from Aifa deputy director general Fay Goddard, who acknowledged many people entering the scheme would not need or want advice. […]
Local authorities should start providing equity-release mortgages to give the market much-needed impetus, says the influential Joseph Rowntree Foundation. A study by the foundation says a drastic solution is required to resolve the problem of consumers having little faith in the market without more high-street brands being involved, while many brands will not enter until […]
Protection providers often extol the benefits of placing plans in trust. The advantages for clients are widely recognised and numerous – inheritance tax mitigation, avoiding probate delay, controlling claim proceeds, and so the long, familiar list continues. Yet, dismissed as unnecessary form-filling, or simply viewed as irrelevant in the context of a mortgage sale, less […]
Adviser trade body Pimfa has called on the government to go forward with the pensions dashboard as rumours swirl that ministers are considering abandoning the idea. Pimfa’s call comes after reports claim work and pensions secretary Esther McVey believes that the pensions dashboard would be a distraction to rolling out universal credit and so should […]
The Money Advice Service will soon be superseded by a new public financial guidance body, rolling it into Pension Wise and The Pensions Advisory Service. Money Marketing looks at some of the key stats for the organisation ahead of the transition.
The year so far has been full of manager and senior staff moves. Earlier this month, eight senior staff at Standard Life Aberdeen left to go to Aviva Investors, to join former Standard Life Investments equities head David Cumming. With moves like this in mind, is a management team or sole manager the better choice? […]