Berkeley Berry Birch has reduced its pre-tax losses by 23 per cent to £3.8m for the six months to September 2003, compared to £4.9m for the same period last year. The Berkeley Independent Advisers network subsidiary has seen its RI numbers grow to 671 from 584 in six months bringing total groupwide RI numbers to 830.
The Treasury select committee has accused the FSA of ignoring a culture of systemic misselling and tolerating endemic mispricing of mortgage endowments. Labour MP Angela Eagle told FSA chief executive John Tiner, who was appearing on Tuesday before the inquiry on Restoring Confidence in Long-term Savings, that alarm bells should have rung over misselling. Chairman […]
Type: Fixed-rate mortgage Fixed term: Until March 1, 2029 Fixed rate: 5.99% Minimum loan: £25,000 Maximum loan: Up to 90% of valuation subject to a maximum of £300,000, up to 85% of valuation subject to a maximum of £400,000, up to 80% of valuation subject to a maximum of £500,000 Income multiples: Up to 90% […]
Sales of investment trust saving schemes fell by 5 per cent to £48.7m in the third quarter of 2003 from £50.5m in the same period last year. Figures from the AITC show sales of investment trust Isas were down by 10 per cent to £12.2m £13.5m. The global growth investment trust sector accounted for 55 […]
Leading protection IFAs met with reinsurer Munich Re last week to discuss the future of critical-illness cover and the need for co-ordination in developing new products. Life Policies Direct director Jason King and Lifesearch senior technical adviser Kevin Carr met with Munich Re's head of marketing Will Adler to share ideas on where the product […]
The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.
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Cofunds’ advised clients will move to the new Aegon platform over the first May Bank Holiday, with the new platform expected to be up and running by 8 May, Aegon has confirmed. Aegon completed the first stage of moving Cofunds customers onto its new combined platform in December, transferring 79,000 non-advised investor portfolio service customers […]
Columbia Threadneedle Investments is calling for auto-enrolment into drawdown funds for people nearing retirement. According to research by the asset manager, people planning their retirement are confused about how they will convert their pensions savings into income, how much they might need in retirement and how long their savings might last. The firm said that […]
Unintended consequences of the pension reforms could further affect access to advice, ultimately derailing consumer freedom and choice. There is already evidence professional indemnity insurers are beginning to withdraw cover or harden terms for advisers associated with defined benefit transfers. But this is not a failure of PII. It is a more fundamental system failure, […]