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Equitable reserves extra £200m for pensions misselling

Equitable Life’s troubles continue to deepen with news it has had to set aside £200m of reserves to cover compensation for possible pensions misselling. The contracts under question are income drawdown policies, of which there are around 15,000. Equitable has also had to bolster the reserve for its guaranteed annuity liabilities to £2.6bn from the estimated £1.5bn last year.


New breed of IFAs needed

The employment market is crying out for a new breed of IFA who can dealwith clients effectively over the internet and telephone as well asface-to-face. This is the outlook for the IFA jobs market of the future according tofinancial services recruitment company HMI Financial Services, which claimsthe advisers most in demand will be those adept […]

ABI seeks deal on BMA fees

The ABI is aiming for a compromise with the British Medical Associationover a planned big increase in medical report fees which could seeprotection premiums rocket. It has been in discussions with the BMA since May. The BMA wanted to morethan double the fee for a general practitioner&#39s report from £30.10 to£66 and more than triple […]

NDF Administration – Extra Income & Growth Plan 7

Wednesday, 25 July 2001.Type: Offshore guaranteed equity bond.Aim: Income and growth linked to the Dow Jones Eurostoxx 50 index.Minimum investment: £10,000, Isa £7,000.Place of registration: Dublin.Investment split: 100 per cent linked to the Dow Jones Eurostoxx 50 index.Guarantee: Capital returned in full at end of term provided the Dow Jones Eurostoxx 50 index final level […]


Cheltenham & Gloucester&#39s move into the non-conforming mortgage market hassparked speculation that the lender may be gearing up for a shift tosub-prime lending. Coming hot on the heels of Halifax subsidiary Birmingham Midshires&#39impending push into the adverse-credit sector, it seems to be a question ofwhen rather than if the mainstream players introduce impaired-credit ranges. But […]


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