View more on these topics

Chartwell extends cashback scheme

Chartwell Investment Management is extending its cashback service to include refunds on renewal commission for investors in with-profits and distribution bonds.

The IFA has offered a cashback service on Isas and Peps since 1999. It will now refund 75 per cent of the renewal commission it receives on investment bonds. On a typical investment of £20,000, where renewal commission of 0.5 per cent is paid, Chartwell will rebate £75 a year to the investor.

But it says Prudential and Skandia Life refuse to transfer renewal commission away from the original adviser to Chartwell, even if this is requested by the client.

Director Patrick Connolly says: “The service is aimed at new investors who are not getting value for money for the renewal commission that is being paid to the adviser who sold them the investment bond. There are still too many advisers who believe renewal commission is a right.”


Threadneedle fuses bonds with equities

THREADNEEDLE DEFENSIVE BOND AND EQUITY FUND Type: Unit trust Aim: Growth and income by investing in Threadneedle funds Minimum investment: Lump sum £2,000 Investment split: Bonds 75%, equities 25% Yield: 4.27% Isa link: Yes Pep transfers: Yes Charges: Initial 3.75%, annual 0.25% Commission: Initial 3%, renewal 0.5% Tel: 0800 06840005 The panel: Bruce Bulgin, partner, […]

Trigold signs deal with three mortgage clubs

Sourcing system and trading platform Trigold has signed a deal with broker clubs Mortgage Intelligence and The Mortgage Alliance, Scottish Mutual and Scottish Provident&#39s club. A customised version of the software offering TMA&#39s 3000 members mortgage point-of-sale and processing solutions has been developed. And Mortgage Intelligence&#39s 5,000 members can now choose from Trigold or Mortgage […]

FSA fines Abbey Life £1m for endowment misselling and other failings

The FSA has fined Abbey Life Assurance Company £1 million for mortgage endowment misselling and other deficiencies in compliance procedures and controls between 1995 and 1999.Between 42,000 and 46,000 mortgage endowment and 3,000 to 4,000 other customers may be due compensation currently estimated to be between £120m and £160m.Abbey Life closed to new business in […]

Excluded property trusts

Where a person who is non-UK domiciled (for inheritance tax purposes) establishes a (normally discretionary) trust and that trust invests in non-UK situs property, under current law the trust will be outside the IHT net forever – even if the settlor later becomes UK domiciled for IHT purposes. This is what is known as an […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm