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Axa axes MVRs and boosts bonuses

Axa has removed market value reductions on with-profits bonds and raised bonus rates by 1.5 per cent for many of the 1.3 million customers in the Axa Sun Life and Sun Life Assurance Society with-profits funds.


Arc gets dual boost from Aim flotations

Arc Growth Company VCT has seen its net asset value significantly boosted after two of its investments, Consolidated Vending and Traction Technology Holdings, floated on Aim.

Prestbury sees first profit as it eyes more acquisitions

Prestbury has reported its first operating profit and says it is on the lookout for further acquisitions.The firm made a profit of £441,000 in the 12 months to October 31, 2006 compared with a £505,328 loss in 2005. Turnover increased by 24 per cent from £8.2m to £10.2m.Chief executive Lee Birkett puts the results down […]

Bank of Scotland in BTL drive

Bank of Scotland is gearing up for a major buy-to-let offensive as part of a push by the HBOS group.The total BTL portfolio lending limit across the HBOS brands has been increased from £5m to £10m although it is likely to have a greater impact on BoS’s traditional high-net-worth clients.The BoS rental calculation has also […]

Standard accused of hypocrisy on MVRs

Standard Life has been accused of hypocrisy and not treating its customers fairly by running seminars on alternatives to with-profits funds despite still applying high market value reductions on some of its policies.Buckles Investment Services director Steve Daborn says many customers are trapped in with-profits funds because of the MVRs and that other providers offer […]

Trusts: Easier than you think?

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 […]


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