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.
Johnson Fleming has published a step-by-step guide demonstrating the importance of record keeping and reporting, and how it can ensure you operate a successful scheme. The guide takes you through some key questions you need to ask and identifies the information you need to obtain. The topics include: why you need to keep records and the benefits of doing this; registering your scheme; what information you need to record to ensure you meet the Pensions Regulator’s requirements; and what items need to be recorded and when.
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 […]
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 […]
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 […]