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Clear view of Poso potential

Paul Fryers of Mortgages plc is reported in Money Marketing on November 2 as saying that our predictions relating to the take-up of point of sale offers are “exaggerated” and that limited investor demand will severely restrict its impact.

What utter twaddle. Does Mr Fryers really think that GMAC RFC, one of the world’s biggest securitisers, did not do the rounds of investors and rating agencies before developing Poso, forming a clear view of current and future investor demand?

Mr Fryers’ comments strike me as a rather desperate attempt at trying to divert attention away from the fact that Mortgages plc will not have this technology any time soon and are, instead, making brokers and packagers go through time-consuming, resource-intensive costly hoops to produce what should be the customer’s by right, namely an instant mortgage offer delivered in minutes at point of sale.

The comments by Mr Fryers remind me of an article which was printed in the trade press from another aspiring young executive working for a competitor who stated that the innovation we had just announced – a range of buy to let rental cover options at a differential fee structure – would not take off because we would not find investors to buy these assets.

Not only have we sold billions of the stuff but his employers have recently bought a big chunk. Innovation is not just about knowing your market – it is about knowing how it will evolve.

Jeff Knight

Director of marketing




Aegon stays strong with buoyant Sipp

Aegon is continuing to see strong pension business with a 56 per cent rise in sales in the first three quarters to £768m from £491m in the first three quarters of 2005 on an annual premium income basis.Individual pension sales more than doubled by 106 per cent to API £246m from £119m. These figures include […]

FPIL mirror range gets a New Star

Friends Provident International has added a mirror fund of the New Star European Growth fund to its fund range. This is one of eight recent additions to the Isle of Man mirror fund range, bringing the total number of funds up to 119.

Trust strategy

In preparing for a recent conference, I was fortunate enough to have had a (mostly drink-based, but nonetheless in-depth) conversation with a few other financial advisers which drifted towards ideas and technical developments in the pension field which are often overlooked.

The Downsizing Delusion: Why relying exclusively on your home to fund your retirement may end in tears

By Steve Webb, director of policy The British obsession with homeownership can have dangerous consequences. A recent survey by Barings¹ found that up to three million people of working age were planning to rely wholly on the value of their home to fund their retirement. We are not talking about people investing in buy-to-let or […]


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