The FSA has appointed John Fryer as its head of press office and events to replace Vernon Everitt, who is moving within the organisation to become director of human resources. Fryer, 57, joins in mid-July from the BBC, where he is business editor of Radio 4's Today Programme and Radio 5's Wake up to Money and Financial World Tonight.
Top industry analyst Ned Cazalet is predicting an FSA clampdown next year on what he claims to be the risky way some life offices calculate their free-asset ratios.Speaking at Pims 2002 on the Aurora on Monday, Caza-let picked out Royal & Sun Alliance and Friends Provident as the worst offenders, saying the FSA was concerned […]
DBS is offering members a new training service with a series of free workshops around the country. Workshops, which attract CPD points, are in groups of 12 and cover technical training and use of office technology, as well as support packages for AFPC.
Bristol & West is introducing three new two year mortgage products with no extended tie-ins.The two year discount product, with a £399 booking fee is charged at 3.89 per cent, being a 2.06 per cent discount off the standard variable rate of 6 per cent. Alternatively, the two year discount with arrangement fee of £399 […]
Investors are set to lose hea-vily on stockmarket-linked bonds unless there is a “miraculous” recovery in the markets, according to research from IFA Chartwell.The firm is predicting that bonds will be the investment scandal of 2003, with some investors in danger of losing all their money. Investors in Canada Life's Nasdaq-linked high-income bond 3, for […]
By James Dowey, chief economist & CIO at Neptune WHATEVER HAPPENED TO THE GOOD OLD DAYS OF CHUGGING ALONG AT 3 PER CENT A YEAR? That was the average rate of real economic growth in the advanced world from the end of the Second World War until the late 2000s. Despite all of the recessions and social changes […]
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Scotland has introduced a new set of income tax bands, but pensions experts warn that the changes could cause issues with pension tax relief calculations. In the Scottish Budget today, the Government announced a new starter rate of 19p and then a 21p rate for those earning over £24,000. The higher rate of tax is […]
The scramble to do as many defined benefit transfers as possible while values remain high is unabated, and I am constantly amazed at how some firms have thrown caution to the wind in the hunt for their share of this – admittedly lucrative – opportunity. The problem is that advisers are putting their profits before […]
The FCA working group tasked with setting a template for fund charge disclosure is considering whether one or multiple templates would be more suitable. The institutional disclosure working group, chaired by transparency champion Chris Sier, has been tasked with creating a new template for fund costs and charges following the package of remedies outlined in […]