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Zurich to sell 25 per cent Openwork stake

Zurich will sell its 25 per cent stake in advice network Openwork in the next four years. In July last year Money Marketing revealed Zurich had appointed investment banking advisory firm Evercore to explore exit opportunities as senior management look to rid the company of any liability risk associated with the business. Openwork is currently […]

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Aviva latest provider to cap exit fees

Aviva, the UK’s biggest pension provider, is to introduce a 5 per cent cap on exit fees for all individual and workplace pension customers, Money Marketing can reveal. The move follows Standard Life, who have already introduced a 5 per cent cap, and Prudential, who plan to bring a cap in at “below 5 per […]

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Bestinvest Best of Breed tops buy list rankings

Gatekeepers influencing 96 per cent of industry assets are showing a wide disparity in the quality of their research, a new report suggests. Bestinvest’s Best of Breed list topped the rankings in three of the four time periods, with assessments made over one, three, five and 10 years. The report, co-authored by Fundscape and gbi2, […]

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Bank boss warns on reckless rival lenders

The chief executive of Shawbrook Bank has criticised some lenders for reckless lending practices that are akin to “shutting your eyes and hoping for the best”. Steve Pateman has hit out at slack affordability tests that do not sufficiently ensure borrowers can afford their loans once interest rates rise. He told the Telegraph: “When you […]

Looking back at 2015

By Fiona Tait, Pensions Specialist 2015 was quite a year for pensions. Change, more change, and proposed changes to the changes. The Spring Budget – pre-election plans With everything that has happened since, it is hard to remember what happened in March. Following on from the bombshell of the 2014 Budget, the Chancellor confined himself […]

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