Stephanie Doctrow

Over-50s lack awareness of LTC costs

The over-50s are hugely underestimating the costs of long-term care, according to new research from Partnership. Consumer research by the provider shows 63 per cent estimate LTC costs will be less than £30,000 a year while 36 per cent predict it will cost less than £20,000. Partnership says the typical costs of LTC can exceed […]

Northern Rock plans to cut 650 jobs

Northern Rock plans to cut 650 jobs by the end of the year as part of its ongoing restructuring process. The company has entered a 90-day consultation period with the union Unite and other employee representatives. Company representatives say the proposed restructuring will involve jobs at all grades, and a voluntary redundancy scheme will also […]

Openwork protection panel grows

Openwork has expanded its protection panel from two to five providers. Until last December, the firm was tied with Zurich for protection, which holds a 25 per cent stake in the network. Openwork expanded its protection panel to two providers with the inclusion of LV= in December 2009. The new panel, which will go live […]

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True Potential poaches 2Plan’s recruitment director

True Potential has poached 2Plan Wealth Management’s recruitment director Miles Thurston. Thurston has been with 2Plan since it launched in 2007 after Chris Smallwood and a number of others broke away from Positive Solutions to set up their own national firm. True Potential is run by former PosSol founder David Harrison and ex-PosSol chief executive […]

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Northern Rock draws line under interest-only loans

Northern Rock is the latest lender to clamp down on interest-only lending, with others expected to follow suit. It has reduced the maximum loan to value for interest-only mortgages from 85 to 75 per cent and restricted the repayment vehicles it accepts. This follows similar moves by Lloyds Banking Group, Santander, Woolwich and Coventry Building […]

Record entry for Manx walk

Scottish Widows Parish Walk in the Isle of Man has received a record 1,705 entries. The 24-hour challenge is an 85-mile race-walk around the Isle of Man. It takes place on June 26-27, starting at 8am from the National Sports Centre in Douglas. Teams from throughout the UK in the financial services sector will be […]

Money Marketing parent company acquires Taxbriefs

Money Marketing’s parent company Centaur Media has bought Taxbriefs for £1.9m. Taxbriefs produces a variety of paid for financial publications and content-based marketing support materials for IFAs, life and pension companies, financial examination providers and tax specialists. Centaur has acquired the entire share capital of the business. Centaur chief executive Geoff Wilmot says under its […]

Mutuals demand parity with banks

Building societies have welcomed the coalition Government’s pledge to promote mutuality but say they do not need to be given an advantage, just granted a level playing field with banks. Building Societies Association head of mortgage policy Paul Broadhead says the Financial Services Compensation Scheme levy is a key area where mutuals are unfairly treated […]

Advisers cheer end of ‘chocolate teapot’ Hips

Advisers have applauded the coalition Government’s decision to scrap home information packs with immediate effect. The coalition’s programme confirms that Hips will no longer be required and sellers will now only need an energy performance certificate to put their homes on the market. Worldwide Financial Planning IFA Nick McBreen says: “Hips were as much use […]

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PI plea to cut premiums for better qualified firms

Professional indemnity insurers are beginning to offer regulatory dividends to firms with higher qualifications and top-quality advice processes, although the FSA is unlikely to follow suit, says Aegon’s Peter Williams.

Advisers divided over use of social networking sites

Two-thirds of intermediaries think social networking sites are an inappropriate way to communicate with clients, according to Opinium Research’s Independent Voice survey. Twenty-two per cent of IFAs currently use a social networking tool, such as LinkedIn, Twitter, Facebook or their own blogs to engage with existing or potential clients. Yet 63 per cent say social […]

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Resolution defends performance

Resolution has reassured shareholders that it continues to be in dialogue with a number of possible acquisition targets. Speaking at the company’s AGM at the Queen Elizabeth Conference Centre in London this week, Resolution director Michael Biggs told shareholders there are plenty of acquisition opportunities. Biggs said: “We remain confident about our ability to raise […]