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Finops call for 1.5 per cent charge on stakeholder

Financial Options Group has called on the Government to place a 1.5 per cent charge on stakeholder to allow provision for independent financial advice.

In its submission to the stakeholder consultation, the network argues that while stakeholder plans should not be compelled to offer advice, where they do so they should be able to charge 1.5 per cent, not 1 per cent.

FOG group sales and marketing director Andrew Bedford says: “An annual management charge set at 1.5 per cent will allow IFAs to provide this advice to all employees and employers.”


Aegon still on acquisition trail

Aegon is still seeking further UK acquisitions following its purchase of Guardian Royal Exchange&#39s life and pensions business says the Financial Times.The Dutch based group whose UK operations include Scottish Equitable, says it would be interested in other life offices especially mutuals with complementary products to its own.Aegon says the purchase of GRE for £759m, […]

Advertising Standards Authority raps B&B

Bradford & Bingley has been rapped on the knuckles by the Advertising Standards Authority for claiming banks offer higher mortgage rates than building societies.The ASA has upheld 12 complaints from the public that B&Bs adverts which appeared in national newspapers during its battle to remain mutual earlier this year were misleading and &#34not necessarily true&#34.The […]

AITC appoints cult French film director to sell itself to investors

That most British of institutions, the Investment Trust industry, is resorting to a cult French film director to sell itself to UK investors.The AITC has hired critically acclaimed French director Gilles Mimouni, best known for his 1996 film &#34L&#39Appartement&#34, to direct the first wave of television advertisements, due to kick off in October.&#34L&#39Appartement&#34 starred Vincent […]

Apcims reports rise in private client business

CGU is launching a with profit annuity aimed at pensioners looking to make the most of their pension funds.The with-profits annuity will provide a viable alternative to traditional annuity schemes which have suffered from falling returns in recent years.The new annuity is available to funds with a minimum of £15,000 and will allow clients to […]

US equities: opportunities for short sellers expand

Optimism is as American as baseball and apple pie. And since the financial crisis, being optimistic about US equities has paid off: they have outperformed every other major developed market by a comfortable margin. Yet while there remain plenty of good reasons to be optimistic about US equities, Stephen Moore, manager of the Artemis US […]


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