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Compass boosts revenues

Compass Finance Group has generated £8.26m of revenues in 2003, 140 per cent higher than the previous year and brokered and packaged £77m of mortgages and remortgages by end of 2003. Operating margins rose from 16 per cent to 22 per cent according to W H Ireland Stockbrokers&#39 institutional research report on the mortgage broker.

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&#39Lift barriers to schemes&#39

The Government must change the design of employer-sponsored defined-contribution schemes if it is to achieve its ambition to improve the 40/60 private/state benefit dependency ratio to 60/40 by 2050, warns a report by the Pensions Institute at Cass Business School. It says means-testing discourages advisers from promoting membership to lower earners while negligible profit margins […]

FSA go-ahead for Millfield / Inter-Alliance merger

The FSA has granted approval for the merger of Inter-Alliance Group with Millfield. Both companies announced to the stock exchange on October 1 that the merger had been granted and that the Millfield offer was “wholly unconditional”. Trading in Inter-Alliance&#39s shares has ceased and the firm&#39s interim results for the six months ending June 30, […]

Ritchie exposes dangers of automatic enrolment

Automatic enrolment of new employees into occupational pensions could lead employers to seek ways of cutting contributions to reduce overall costs, warns Scottish Equitable pensions development director Stewart Ritchie. Research by the NAPF has shown that auto-enrolment typically increases employee take-up from 60 to 90 per cent. However, the chairman of the Employer Task Force […]

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