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Bank of England vote to maintain base rate

The Bank of England’s Monetary Policy Committee has voted to maintain the Bank’s current base rate at 6.0 percent for the eighth consecutive month.

The last change was on February 10, when it increased by 0.25 percent to its present level.

The minutes of the meeting are to be published at 9.30am on Wednesday 18 October 2000.


IFAs bombarded with applications from Halifax RIs

Halifax IFAs fuming over the bank&#39s decision to axe their division are applying to IFA firms and networks.London-based IFA Alexander Hall says it has received a number of applications from Halifax employees who want to remain IFAs. It claims the Halifax IFAs who have applied are fiercely protective of their independent status and are refusing […]

Broker Talkback

Is the ABI&#39sMary Francis right to tell the Government to keep out ofproduct design? “Yes. I think it should be left up to the industry members themselves.”John Sharman, Sharman & Co “Yes. When you look at Catmarks, stakeholder, IPA and all the ill thought out draft legislation the Government has devised, you realise the Gov-ernment […]

Splitting policies on Tep market

IFAs can raise more money for divorcing couples by selling their endowment policies on the open market, says traded endowment provider Absolute Assigned Policies.The market-maker says divorce accounts for 14 per cent of all policies sold.IFAs should be aware that if clients sell their policies to market makers they are likely to receive over a […]

Cofunds&#39 cost set to reach £40m

Cofunds is to cost its four founders more than £40m, according to Threadneedle deputy chairman and Autif chairman Alan Ainsworth.The IFA fund supermarket, which is due to launch later this year, is set to cost the four founders, Threadneedle, Gartmore, Jupiter and M&G, at least twice as much as their original investment of £20m.Ainsworth says […]

What exactly is product innovation?

By Fiona Tait, Pensions Specialist Ros Altmann reportedly hoped for more product innovation following pension freedom¹ and, according to one poll, 66 per cent of advisers also believe that providers should be doing more². This article considers whether there is a real client need for new products, or whether we should be focusing our attention on efficient delivery […]


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