Insurance

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SJP snaps up Reigate protection advice firm

St James’s Place has acquired the Reigate protection advice firm Future Proof. Future Proof, now part of SJP Group, provides specialist advice on income protection insurance, critical illness and live insurance in both personal and business markets and has arranged over £800 million worth of cover for clients since 2011 when it was established. SJP […]

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Royal London chief Loney to step down

Royal London chief executive Phil Loney is stepping down at the end of 2019 and the new chairman, Kevin Parry, will lead the search for his successor. Parry’s appointment and Loney’s departure were both announced this morning. Parry, will leave his current non-executive director position at Standard Life Aberdeen at the end of December and […]

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CISI in drive to promote Islamic finance qualification

Two professional bodies have joined forces to co-brand and promote an Islamic finance qualification. The Chartered Institute for Securities & Investment’s Islamic Finance Qualification was launched in 2007 and has now got backing from the Association of Chartered Certified Accountants. CISI and ACCA signed a memorandum of agreement regarding their collaboration on the Level 3 […]

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FCA: CIOs are the new rock stars of finance

The FCA has said high demand and short supply of quality chief information officers and IT consultants makes these professionals the new rock stars of finance, and also jeopardises IT change programmes. Speaking at Bloomberg in London today FCA executive director of supervision – investment, wholesale and specialists Megan Butler (pictured) said the regulator is […]

L&G: Poor choice of pension product can lead to depression

Poor choice of pension products can make older Brits dissatisfied and depressed in retirement, research by Legal & General and Demos found. Analysis of the English Longitudinal Study of Ageing has found evidence of a link between health and well-being and the choices people make about how they use their pension savings. The research found […]

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FCA proposes rejected PPI complaints be revisited

The FCA has proposed firms should write to around 150,000 specific payment protection insurance complainants, previously rejected, saying they can make a new complaint about non-disclosure of commission. The complainants would have to make the most of this second opportunity before next year’s deadline of 29 August. In updated guidance issued today, the watchdog says it […]

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Phoenix and Lloyds top FCA complaints data

Divisions of Phoenix Group and Lloyds Bank are among the most complained about providers across investments, insurance and pensions, according to the latest FCA complaints data. The FCA had 4.13m complaints in the first half of 2018, up 10 per cent from the 3.7m complaints received in H2 last year. Phoenix Group subsidiaries Phoenix Life […]

FCA announces redress programme for mortgage firm customers

The FCA reports that a number of customers of The Mortgage Matters Partnership, a mortgage and insurance intermediary that is no longer trading, were given unsuitable mortgage advice and that, consequently, a customer contact and redress programme is now underway. Furthermore, the regulator states that the Financial Ombudsman Service has looked into a number of […]