As you will have gathered from my previous articles, I am a passionate believer that the financial services industry can help the general public improve their lives and achieve financial security and the best way to do this is through the provision of independent financial advice. This is the perfect world scenario but is the industry itself perfect?
Treasury Economic Secretary Ed Balls has weighed into the debate on time bars, saying endowment providers have a duty to consider complaints regardless of the time-barring rules.In a letter to Conservative MP Andrew Mitchell, Balls said the time-barring rules only apply to the ability of the Financial Ombudsman Service to examine the complaint and FSA […]
The Council of Mortgage Lenders says the outlook for arrears and repossessions is improving despite last week’s bank base rate rise.It says it may have to review its forecast of 15,000 repossessions in 2007 after observing an improving market in the past few months.The CML has reported that there were 8,140 repossessions in the first […]
Legal & General is planning to release 1bn cash to shareholders in the next two years as part of a wider capital restructuring. The cash will be returned through a combination of special dividends and share buybacks.
By Rob Burnett, Head of European Equities In recent weeks equities have been buffeted by two shocks occurring at the same time: China’s devaluation of the renminbi and the prospect of the US Federal Reserve (Fed) raising interest rates. The market is not comfortable with the Fed raising rates at the same time that China […]
The Personal Investment Management and Financial Advice Association has published an updated version of its Mifid II feedback template and guide. Both documents jointly authored with the Tax Incentivised Savings Association were originally issued for industry comment in June 2018. The updated template and guide reflect the feedback received from Pimfa’s product governance and template testing working groups. […]
Legal and General Assurance Society has apologised to a client for making repeated mistakes in the information it gave about the amount of tax free cash he could take. In a ruling from The Financial Ombudsman Service, Mr M complains L&G’s errors resulted in the need for him to return funds and caused him “significant trouble” and […]
New FCA findings suggest advisers should prepare for significantly higher FSCS contributions at least Like many adults in the latter half of their lives, my pecuniary affairs are complicated. Not only do I earn a living from multiple employers but my future retirement income is dependent on several sources of funding, which includes three separate […]