The PIA is demanding large IFAs that pose the greatest potential risk of Year 2000 failure provide details of their arrangements.These firms have been asked to complete a Year 2000 Completion Statement which has to be signed by a firm's senior executive officer, to confirm sufficient action has been taken to ensure business continues as […]
NatWest has hit out at the Bank of Scotland claiming it is avoiding key questions over the Edinburgh-based bank's £22bn hostile takeover bid.The beleaguered bank also says BoS's proposals do not stand up to examination and are characterised by rhetoric rather than detail.
Sales of life insurance, pensions and investment totaled £9.5bn in the third quarter of 1999, an increase of 20 per cent on 1998.Overall the value of life insurance policies sold rose 31 per cent to £6.5bn, while pension sales fell by 8 per cent to £1.3bn.Sales of Isas and Oeics were also up 8 per […]
Standard Life Bank is updating its existing IT systems for mortgages and savings in a move to penetrate new markets.The bank has signed a contract for £1,000,000 with Lynx Financial Systems, and intends to add to its portfolio of telephone banking products.
By Kacper Brzezniak As the International Monetary Fund (IMF) downgrades the global growth outlook YET again (which is becoming a recurring theme, as we discussed here a year ago), we turn our eyes to Italy’s current economic disaster. Italy has recorded exceptionally weak growth in recent years but, in order to get a better understanding […]
You may have seen some reporting on St James’s Place’s charges over the weekend courtesy of The Sunday Times. First up, kudos for continuing to push such an influential but guarded firm on such an important topic. Specifically, the claim was made that on a £1m pot invested over 20 years, clients would see almost […]
Platforms that have well-developed drawdown solutions will be best placed to help advisers navigate clients through retirement, says Seven Investment Management. 7IM head of intermediary Verona Kenny says platforms with strong offerings in the drawdown space are vital for proper client management. Speaking to Money Marketing, Kenny says: “Challenges for advisers to navigate include ensuring […]
There is an opportunity to abolish the tapered annual allowance and reform pensions tax relief more widely under Boris Johnson’s incoming government, experts say. The MP for Uxbridge and South Ruislip was elected leader of the Conservative party today and will take over as prime minister tomorrow. Johnson beat off challenger and foreign secretary Jeremy Hunt […]