IFA Berry Birch & Noble has appointed Colin Cameron as a director. He joins from Aon Consulting where he spent 13 years as a senior consultant and board director.
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SOBS says Halifax takeover means 'slash and burn' redundancies
Save Our Building Societies is calling for job-protection guarantees for Birmingham Midshires' employees ahead of the society's proposed £750m merger with Halifax.The pressure group is urging Birmingham Midshires members to push for a 10-year safeguard for jobs and branches. Halifax says it "intends to avoid compulsory redundancies".Sobs coordinator Bob Goodall says: "The Halifax will slash […]
NPI meet PIA requirements on pension fund withdrawals
NPI says it is one of only four major IFA providers to have already complied with PIA guidelines on pension fund withdrawals.It says its drawdown illustration system has been amended to show both critical yield type A and type B on a client specific basis as stated in the PIA guidance notes.Drawdown Product Manager Jim […]
PIA suspends Manchester-based Barclay Scott & Co
The PIA has issued an Intervention Notice against Barclay Scott & Co which will prohibit it from soliciting or conducting regulated investment business.The regulator says the firm may not be complying with its financial resources requirements and may not be able to meet the liabilities as they fall due.It says the firm has also failed […]
Portman withdraws oversubscribed bond from sale
Portman Building Society is withdrawing its one-year fixed-interest bond because it has been inundated with inquiries.The bond was launched three weeks ago with an interest rate of 6.5 per cent gross per year.Portman spokesman Mike Dobson says: "Demand has been extremely heavy and this pressure has forced us to replace the product."It is being replaced […]
Understanding the new State Pension
The Department for Work and Pensions (DWP) has unveiled a new communications campaign to raise awareness of the new State Pension that will be launched next year.
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A hostile climate and burrito bonds: The Wells Street Journal
A weekly account of the curious goings-on in the world of financial services A hostile climateOn the same day the Prudential Regulation Authority put out a policy statement on the financial risks of climate change and five London landmarks were ground to a halt by climate protesters, it was starting to feel like a bit […]
Jason Broomer: Fund survivor bias is alive and kicking
Understanding the impact of cutting the dead wood Nothing sells funds like performance. Despite all the regulator’s railings that past performance is no guide to the future, we see flows being directed to the funds at the top of the league tables time and time again. There are, of course, far too many funds out […]
DWP publishes guidance on GMP equalisation
The Department for Work and Pensions has published its first round of guidance to help trustees resolve unequal guaranteed minimum pensions today. A GMP is the minimum pension that an occupational pension scheme, contracted out of the additional state pension between 6 April 1978 and 5 April 1997 on a salary-related basis, has to provide […]
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