New Treasury economic secretary Ed Balls told the Treasury select committee this week he is unsure about the future of basic advice and that changes are needed to ensure better balance between simplicity and regulation.
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AIG set for move into bulk annuities
US firm AIG is understood to be entering into the bulk annuity market in the UK. The firm will be launching with the technical support of outsourcing firm Higham Group. AIG has been linked with the possible acquisition of Prudential, one of the biggest suppliers of bulk annuities in the UK.
Speculation surrounds Synaptic
Adviser software provider Synaptic denies it is up for sale despite industry speculation the firm has put itself on the market. Synaptic chief executive Selwyn Herring, who owns 10 per cent, says approaches have been made but he is not willing to sell although he cannot vouch for the intentions of venture capital firm New […]
Leaked letter reveals DWP pressure to retain RU64
The Department for Work and Pensions is pressurising the FSA to retain the RU64 rules ahead of this week’s White Paper which will set up the national pension savings scheme. The FSA was expected to abolish RU64, brought in to accompany stakeholder pensions, at a board meeting this week. In a letter to Work and […]
Gartmore MBO announcement imminent
Gartmore is likely to announce the terms of the private equity-backed management buy out of the investment house “either later today or early tomorrow morning” according to a company spokesman.US group Hellman & Friedman are currently finalising the legal details of the agreement which will be expected to lock in a number of the company’s […]
Artemis Monthly Distribution: flexible investing for income
With a portfolio of bonds and equities, income is more resilient in an otherwise uncertain world. To watch the video click here
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DB transfers review criticises FCA register and Unbiased
The FCA’s website and Unbiased have been criticised as unhelpful in a major review of the communications received by members of British Steel Pension Scheme The review, commissioned by the Pensions Regulator and led by former Money Advice Service boss chief executive Caroline Rookes has been published today. It looks into communications and support provided […]
Unlocking income protection for clients with pre-existing conditions
Obtaining cover for people with medical issues can be difficult, so is it best left to the specialists? Protecting a client’s income is viewed by many advisers as the foundation upon which other aspects of financial planning are built. However, for clients with pre-existing health conditions, obtaining cover may not be that easy. Depending on […]
IFA to pay up to £150k after investing 90% of client pension into Harlequin
An IFA has been instructed to pay up to £150,000 in compensation for the advice it gave a client to transfer their pension into an unregulated overseas property development. In the upheld Financial Ombudsman Service ruling Mrs P complained about the advice she was given by Professional Intermediary Introducers Limited to invest around 90 per […]
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