Over 61 per cent of mortgage brokers expect the RDR to apply eventually to the mortgage intermediary market, according to research by Alliance & Leicester.
Summer may have been fairly miserable but there has been a golden ray of sunshine for every IFA firm since the FSA board met in July and approved proposals to reform the Financial Services Compensation Scheme. It is also good news for consumers who will benefit from a scheme, now given a new lease of life, which will offer some financial recompense when no one else can. The FSCS is a vital regulatory safety net which helps maintain consumer confidence in our industry.
A former executive of a British-based engineering and transport group has been convicted in South Africa of defrauding the company’s pension fund.Rowland Bailey pleaded guilty to charges of fraud and money laundering when he appeared before the Johannesburg commercial crimes court last week and his wife, Shirley, admitted money laundering charges.The court was told that […]
The founder of True Potential postponed retirement plans to set up a company which aims to deliver an electronic platform which IFAs can use to run their whole business. Interview by Gregor Watt
Unity Homeloans will continue to be funded by Investec when it relaunches its sub-prime product range. Unity chief executive Paul Thomas, who has been seconded from Investec as a replacement to former ceo Ian Nelson, says the firm is working on its next securitisation issue and new range of products.
Survey reveals three-fifths of people with potential inheritance tax bill unaware their estate may be liable for IHT Over half don’t know that IHT rate is charged at 40 per cent Record HMRC tax receipts show that families are losing out due to lack of knowledge 78 per cent believe wealth should stay in the hands of […]
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As the outlook for the UK’s economy remains uncertain, how can advisers prepare portfolios for any change in inflation? As higher inflation fails to appear on the horizon and wages grow faster than expected, fund managers are weighing up their portfolio moves for any potential changes in the economy. The UK consumer prices index rose […]
IFA directors Kevin and Cheryl Neal have been banned from being company directors by the Insolvency Service for six and four years, respectively. The married couple ran the now-defunct Hertfordshire-based Kevin Neal Associates Wealth Management. They were disqualified for taking assets from an insolvent company. The firm had been incorporated to take over the business interests […]
Hartley Pensions has bought the “untainted” assets of the Lifetime Sipp Company, which went into administration earlier this year. An update published today on the website of Lifetime’s administrators Kingston Smith & Partners says Hartley Pensions has also agreed to administer the tainted Sipps held by Lifetime Sipp. The administrator described tainted assets as those where […]