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Criticism of new watchdog

Investment Ombudsman Peter Dean has criticised the imminent Financial Ombudsman Service.

In his annual report, he says of his office: “The advantages of smallness mean that our attention and energies can be focused on the complainants and firms who look to us for a service rather than issues of hierarchy, office politics and internal regulations.”

The number of complaints received by the Investment Ombudsman rose by 9.6 per cent to 433 from 395 last year.

The total value of awards was 109,209, with the highest award being 14,415.

l The new watchdog is writing to every IFA in the country to invite them to a series of informal chats which aim to promote the ombudsman as a service advisers can use to help their businesses.


Banks set to steala stake march

Barclays Bank is to send its 2,000 small business advisers into battle with IFAs over stakeholder pensions.The move by Barclays comes as Andersen Consulting warns that the clearing banks, especially Barclays and NatWest, are the best-placed companies to challenge IFAs in providing stakeholder because many small businesses must provide access to plans.There are nearly 20,000 […]

Ride the ethical wave

New legislation on socially responsible investment brings to mind the analogy of comparing the reputation of the pension industry to surfing, where both teeter on the crest of a wave.Surfing is as spectacular in its moments of failure as it is in success. One moment the surfer is a sublime creature riding a breaker but […]

Share exchange is no robbery

Last week, I continued my evaluation of the Budget changes to taper relief for business assets by working through an example which addressed two important issues: Where the period of ownership spans both the new and the older, more restrictive ownership rules. Where the assets satisfy the business assets test for some of the period […]

&#39Myners report conflicts with stakeholder goals&#39

The Government is being accused of sending contradictory messages to the pen- sion industry through the Myners report and the bench- marking of stakeholder fund performance.Providers claim the criteria set out by Paul Myners for his report into institutional investment conflicts with Government objectives in the stakeholder market.Gartmore chairman Myners was commissioned by Chancellor Gordon […]

A guide to automatic re-enrolment

Since the introduction of auto-enrolment in 2012, it has been a popular topic in the press. Recent media focus has been geared towards small and micro employers; however attention is set to return to the UK’s largest businesses as they prepare for re-enrolment. Johnson Fleming has produced a useful guide that provides essential information to help you […]


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