Britannic Retirement Solutions is calling for FSA proposals for regulation of the equity release market to be extended to cash reversion schemes. The FSA is regulating mortgage-based equity release schemes from 2004 but Britannic says consumers will only feel secure going into equity release if the whole of the sector is regulated.
In its research to devise a whole new kind of financial services advertising, Prudential took just about everybody else's ads and put them all together in one long sequence.The mind boggles – flying pigs landing on fishermen in braces, businessmen singing in toilets as elderly uncle advises nephew Henry to put his money in a […]
The FSA would like to drop the Authorised Financial Adviser model and implement a payment system more palatable to the majority of IFAs, according to head of polarisation review David Severn.Speaking at the Distribution Strategies Post-Sandler conference in London last week, Severn said that if there was an alternative to the defined-payment system which would […]
Insight Investment, the asset manager of HBOS, has today launched a new retail investment operation offering nine new funds and 14 revamped funds.Insight's investment offerings fall into three main groups – Foundation, Classic and Professional. Foundation funds are designed for new investors or for those who want a low cost, CAT standard ISA. The Classic […]
CIS is cutting payouts on with-profits by 5 per cent after announcing an interim bonus declaration. The cuts follow a 15 per cent cut announced at its scheduled annual declaration in April. The company blames falling stockmarkets but claims consumers are still benefiting from smoothing.
It has taken a little longer than expected, but finally the jaws of regulation are closing on those employers who have failed to meet their auto-enrolment (AE) legal duties.
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Scotland has introduced a new set of income tax bands, but pensions experts warn that the changes could cause issues with pension tax relief calculations. In the Scottish Budget today, the Government announced a new starter rate of 19p and then a 21p rate for those earning over £24,000. The higher rate of tax is […]
The scramble to do as many defined benefit transfers as possible while values remain high is unabated, and I am constantly amazed at how some firms have thrown caution to the wind in the hunt for their share of this – admittedly lucrative – opportunity. The problem is that advisers are putting their profits before […]
The FCA working group tasked with setting a template for fund charge disclosure is considering whether one or multiple templates would be more suitable. The institutional disclosure working group, chaired by transparency champion Chris Sier, has been tasked with creating a new template for fund costs and charges following the package of remedies outlined in […]