The Treasury should extend the regulation of equity release to home reversion schemes, the vast majority of respondents to its consultation closing this week believe. With more than 50 responses received, most – including Sofa, the National Consumer Council and the Financial Services Consumer Panel – support the FSA regulating the entire equity release market.
By offering a guarantee to new investors, Norwich Union is reinforcing its commitment to the with-profits market. In light of the speculation regarding Standard and the negative press sentiment concerning with-profits in general, this is a very defiant and bold move. The guarantee ensures that, after five years, the minimum that investors will receive is […]
Nationwide Building Society has made slight reductions in the rates on its fixed-rate and tracker mortgages. Its two-year fixed rate goes down from 4.81 per cent to 4.79 per cent while the three-year fix rate is cut from 5.11 per cent to 5.09 per cent from 5.11 per cent and the five-year fix from 5.31 […]
Intelligent Finance says mortgage applications have soared by 21 per cent since it launched its two new standalone products - fixed rate and tracker rate mortgages - through professional advisers two weeks ago. On the back of this strong demand, Intelligent Finance will be offering these two new products directly to consumers from 16 February. […]
Aifa has warned that the FSA needs to be more concerned with the timing of the many upcoming EU directives rather than the precise wording of each document, saying taking on so many directives at once will be costly and confusing. The warning comes as Aifa responds to the FSA's consultation on the implementation of […]
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It is encouraging to see the FCA close in on lazy fund management, but more needs to be done Without fanfare, the FCA has confirmed its intention to punish lazy fund management. Several groups have been persuaded into voluntarily compensating investors who bought their beta-posing-as-alpha products, otherwise known as closet trackers. The regulator suggests that […]
Ex-GBST man and FinoComp chief executive Ray Tubman on the need for a brave new world of interoperability Platforms running on proprietary technology often see this as a competitive advantage, even if it is expensive to run. But ex-GBST man and now FinoComp chief executive Ray Tubman does not believe outsourcing is the poor relation. […]
Ahead of speaking at Money Marketing Interactive in May, founder and director of The Yardstick Agency Phil Bray gives tips on how advisers can improve their public image and why the FCA should rethink their plans for the register On a scale of 1 to 10, how optimistic are you about the advice market for […]