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Edinburgh merges growth funds

Edinburgh Fund Managers is merging its UK income & growth fund with its growth & income fund. The £65m fund will be called the Edinburgh UK growth fund.

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&#39Interest rates will soar under Emu&#39

The Association of Consulting Actuaries is warning that interest rates will soar under Emu if member countries, such as Italy and France, fail to deal with their unfunded pension liabilities. Emu convergence criteria fails to take account of the liabilities, which across Europe amount to over £1,000bn. The UK has over £750bn in funded pensions.

Liddell warns of review fines for small firms

Treasury economic secretary Helen Liddell is warning smaller firms conducting the pension review that they could be fined for missing deadlines. Liddell is turning her attention on smaller firms after conducting a six-month naming and shaming campaign against the biggest providers. Slow progress with the review could now see fines being handed out to smaller […]

Broker business booming as IFAs head for 50%

As life and pension sales return to the boom days of 1993, IFAs&#39 share of the market continues to rise amid signs that more and more people are turning to independent advice. According to the latest ABI market share figures, IFAs&#39 share of new individual life and pension annual premiums jumped to 42.6 per cent […]

&#39Hourly rate&#39 ignores servicing

Lorna Bourke has made the usual journalistic error (Money Marketing, January 24). Commission relates not just to the sale of a financial services product but to the year-on-year servicing and advice at no extra cost to the client. If you split £869 over a 10- or 15-year term, then the hourly rate drops significantly. Perhaps […]

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