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Egg planning online advice link-up

Prudential&#39s online fund supermarket Egg is to offer independent advice on its website with a link-up with an IFA the most likely option.

It is in negotiations with a number of IFA firms.

Egg has not ruled out setting up its own IFA division but says it is unlikely in the short term due to the costs of training and support systems. It initially wants to offer advice on Isas and banking but is considering a wider range over the medium term.

Any advice would be independent and not come dir ectly under the Egg brand.

It believes introducing advice under current polarisation rules will mean it may have to amend the online links to Pru&#39s fund management operation M&G.

Head of risk and compliance Richard Warrington says: “Advice is certainly on the horizon but we are at very early stages. We are discussing with the regulator the best form that advice should take.”


Building Society Association releases September figures

Building Society gross advances were £2,219 last month, up from £2,168 m in September according to figures released by the Building Societies Association. But net advances fell to £803m from £841m in the same period. Loan approvals also fell to £2,227m from £2,284m. and new savings were down to £845 million from £937m. Building Societies […]

Hammer home the independent message

The outcome of the investigation into pol arisation is questionable to say the least. What is difficult to understand is that we are told we have a listening Government that positions itself as the people&#39s champion. Yet, quite evidently, consumer concerns have been overridden by the politics of the day.We are now seeing a scen […]

MM reporter James Daley wins award

Money Marketing investment reporter James Daley has won Friends Ivory & Sime Venture Capital personal finance journalist of the year. Daley, 23, beat national journalists to the prize which was presented by Patricia Hewitt, MP, minister for small business and e-commerce. This is the first year of the competition which makes awards to journalists who […]

BAM appoints new investment sales manager

Britannic Asset Management has appointed Richard Pursglove as UK investment sales manager. In this role Pursglove will be responsible for the day to day management of the investment sales team.. He says “BAM is a fast growing company with huge potential. We have ambitious growth plans for the year ahead and I look forward to […]

Lifetime ISAs – International Evidence

By Fiona Tait, Pensions Specialist Since the announcement in March, the Lifetime ISA (LISA) has attracted controversy. Heralded as a saviour for the self-employed and the young wanting to get on the housing ladder, the new LISA risks adding confusion for savers trying to fully understand the benefits of new workplace pension savings through auto-enrolment. To […]


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