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Divorcing couples urged to profit from Tep market

Couples going through a divorce should look to sell their mortgage

endowment rather than surrender it, says market maker Beale Dobie.

It claims over 50,000 people a year surrender a policy direct rather than

selling it on the Tep market for an average of 10-15 per cent more than the

surrender value. It believes that around £1bn of endowments are

surrendered each year.

Over the past five years, the firm says 16 per cent of its customers have

cited divorce – the top category – as the principal reason for selling

their policy.

Investment manager Tracey Merritt says: “Divorce can be a stressful time

for anyone. The last thing people need to find out is that they could have

received thousands more for their endowment policy if they had sold rather

than surrendered.”


Schroders cuts unit trust rates

Schroders is to raise the annual charge on six of its unit trusts by 0.25 per cent from November 21.The Schroder Pacific, Tokyo, UK Equity, Income, Gilt & Fixed Interest and European funds will all have their annual management charge increased to 1.5 per cent from 1.25 per cent.Letters informing IFAs and unitholders of the […]

Scottish Mutual goes for tailored cut

Scottish Mutual has designed the tailored flexible trustee investment plan for trustees of occupational and personal pension investors who are looking for a pooled investment option. It provides access to a range of Scottish Mutual pension funds including managed, with-profits, European equity and North American equity. Trustees can choose up to 10 funds and are […]

SLC Asset Management takes on new head of broker support

SLC Asset Management has appointed Caroline Carroll as head of broker support within the team headed by head of retail sales Simon Gordon. Carroll, who joins from Scottish Widows Investment Partnership, is the fourth appointment at SLCAM since the start of the year. Gordon says: “Caroline has an excellent reputation with brokers and has worked […]

Aon appointed as consultants to HarperCollins

Aon Consulting has been appointed by HarperCollins Publishers to provide actuarial and benefits consultancy services for the 3,000 members of its pension scheme.The announcement follows Aon&#39s recent appointment as third-party pensions scheme administrator to Scottishpower.Aon Consulting executive director Robert Middleton says: “We are very pleased to have won this broad-ranging appointment from HarperCollins, who will […]


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