Britannic Retirement Solutions is launching a purchased life annuity paying enhanced rates to people with qualifying lifestyles or medical conditions. Research carried out for Britannic Retirement Solutions shows the purchased life annuity market has grown 23 per cent to £207m in the first three quarters of 2002 from £168m in the first three quarters of 2001.
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Shell shock
Schroders director Robin Stoakley received a shock at work last week when his wife rang to say that he couldn't come home because an unexploded World War Two bomb had been found in the garden.Workmen discovered the 60-year-old German bomb while laying a new drive at Stoakley Towers. Neighbours had to evacuate a 100m exclusion […]
CML sad to see Davies go
On the departure of Howard Davies from the FSA next September the Council of Mortgage Lenders communications manager Bernard Clarke says: “Howard Davies has helped the FSA to steer a proper course in implementing the Treasury's proposals for the statutory regulation of the mortgage market. “He has reinforced his reputation as a witty and entertaining […]
Options on endowments
It would appear that mortgage endowment policyholders have several options open to them to address any projected potential shortfall in their plan's targeted maturity value:•Increase their endowment's premium.•Convert all or part of their loan to a capital and interest basis.•Make separate alternative provision for any anticipated shortfall.•Do nothing.•Complain, alleging that they were missold the endowment […]
Britannic picks chief operating officer
Britannic Asset Management has appointed Gavin Stewart as chief operating officer. He will take up the role in January and will be responsible for finance, legal, IT, corporate development, investment trusts and product development. Stewart was formerly group development director at Aegon and marketing director at Scottish Amicable.
Auto-enrolment compliance figures…
At the end of July, the Pensions Regulator issued its quarterly update on auto-enrolment (AE) compliance by employers in the UK. The full report can be seen under the quarterly bulletins section here.
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Advisers are yet to be wooed by passive investing
Advisers are avoiding putting all their eggs in the passives basket Few advisers have wholeheartedly taken on board the arguments for index-tracking and put all their eggs in the passives basket. Indeed, advisers are deeply split in their attitudes towards passive investing. There is no denying funds in passive investment vehicles have been on the […]
The Wells Street Journal: Feline friends and Sipp swap
A weekly account of the curious goings-on in the world of financial services Fussy financial felines With the average salary for financial advisers continuing to grow, one has to wonder what privileges immediate family members are able to enjoy. Perhaps most important to the families that own them are cats. Thanks to Twitter, WSJ can […]