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Charcol moves into wealth management

Charcol is branching out from its mortgage-only brokerage to create a

fee-charging wealth management service in investment, life and pensions.

Advisers will be recruited for the service which will advise fully on

life, pensions and investments alongside mortgages. It is seeking advisers

with G60 so it can move in to specialist pension areas such as drawdown,

transfers and equity release. Charcol has around 130 advisers.

Merrill Lynch Investment Managers retail markets and products director

Roderic Rennison has been recruited to head the development of investment,

life and pension products.

The wealth management service is integrated with Charcolonline which can

now give online Isa advice. It will offer stakeholder pensions from between

eight and 12 providers in the next few weeks. For more complex pension

planning, customers will be directed towards face-to-face advice.

Advice given online and on the phone is on a commission basis.

Face-to-face advice is fee-based, dependent on the complexity of work

involved. A monthly fee for providing an ongoing service will be offered.

Charcolonline has launched its Isa fund supermarket with 260 funds from 18

fund firms, including Schroder, Aberdeen and Invesco.

Charcol managing director Toby Strauss says: “We want customers to know

that once we start a relationship we will maintain it. We know our mortgage

customers think our service is great but we do not go back to them.”



Norwich & Peterborough – Six Month Fixed Rate Bond

Thursday, 28 June 2001.Type: High interest account.Minimum-maximum investment: £1,000-no maximum.Interest rates: 5.1 per cent gross a year, 4.98 per cent gross a month.Term: Six months.Offer period: Until further notice.Withdrawal penalties: If no notice given, 30 days&#39 loss of interest on amount withdrawn unless at least £1,000 remains in bond.Tel: 0845 3002511.

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SOCGEN ASSET MANAGEMENTCorporate Bond FundType: Unit trust.Aim: Income by investing in corporate bonds.Minimum investment: Lump sum £1,000, monthly £50.Investment split: High-grade sterling-denominated corporate bonds 80 per cent, fund manager&#39s discretion 20 per cent.Yield: 5.5 per cent.Isa link: Yes.Pep transfers: Yes.Charges: Initial 3.5 per cent, annual 1.25 per cent.Commission: Initial 3 per cent, renewal 0.5 per […]

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CGT entrepreneurs' relief

Entrepreneurs’ relief is due, subject to meeting certain conditions, in respect of capital gains arising on ‘material disposals of business assets’. These ‘business assets’ include: Read more


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