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Cable puts pressure on sealed-pack sales

MPs are continuing to pile pressure on the Government over the way that non-advised insurance sales are marketed and sold to consumers.

LibDem Shadow Chancellor Vince Cable has asked the Treasury to explain what measures there are to ensure insurance policies sold in a sealed-pack “off the shelf” display their terms and conditions on the outside of the pack.

Treasury Economic Secretary Ed Balls says the FSA makes no distinction in its regulatory treatment of sealedpack policies and other forms of non-advised sales and stresses firms must provide clear information. He says policies are often concluded by a phone conversation or an application form by post.

The Treasury is rumoured to be considering a public consultation on non-advised sales next year.


Smith & Pinching opens door to IFAs

Smith & Pinching Portfolio Management has announced plans for a global property fund of funds as it prepares to start marketing its entire multi-manager range to IFAs from the end of the year.The investment arm of IFA group Smith & Pinching is structuring the new fund as a non-Ucits retail scheme. It will be available […]

John Charcol happy to remain outside Concordia

John Charcol says it is comfortable sitting outside of Concordia as it already receives high proc fees and a sufficient number of exclusive deals from lenders.The broker says it was not approached to be part of the broker consortium formed yesterday that includes Alexander Hall, Chase de Vere Mortgage Management, Cobalt Capital, Hamptons International Mortgages […]

L&G clients opt to stay contracted out

Legal & General says 83 per cent of its contracted-out customers have chosen to stay contracted out of S2P. Out of 3,193 responses received, 2,644 opted to stay contracted out.

Graphic Content – August

Given the release of employment data from the US on 5 August, we wanted to focus on employment data in this month’s Graphic Content. The Graphic Content below shows us that young and middle-aged workers were hit the hardest by the Great Recession and have never caught up. Since the job market started to recover […]


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