The FSA has fined Braemar Financial Planning £182,000 for systemic failings in its sales processes for pension unlocking. It found that between November 2002 and November 2005, Braemar persistently failed to collect sufficient information about their customers before making recommendations and failed to explain all the alternative options.
Money Marketing saw PR firm Lansons at perhaps its quietest as it was taken on a grand tour of its very colourful offices. We were informed it was because they were all told “to be on best behaviour”. MM was shown the firm’s stunning meeting rooms, The Mezzanine (“Where all the thinking gets done”, although […]
Winterthur Life has posted a 75 per cent increase in half year single premium individual pensions business to £536m, up from £305m in the same period last year.
Former Bankhall pair Mike Buckley and Gordon Covell’s new mortgage support ser-vices company Active Lending Solutions has signed an alliance with Bankhall rival three-sixty, with the aim of taking on Bankhall’s Premier Mortgage Service. Active will provide three-sixty’s members with access to its mortgage club, lending and packaging while the IFA support services firm will […]
Advice: Compliance consultant Adam Samuel says the FSA’s mystery-shopping results underline the fundamental importance of asking the full range of questions for a fact-find and carefully considering the answers to fit the pieces together to make an accurate assessment of understanding clients’ attitudes to risk before giving investment advice
At the end of July, the Pensions Regulator issued its quarterly update on auto-enrolment (AE) compliance by employers in the UK. The full report can be seen under the quarterly bulletins section here.
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Claims management companies must be more specific on separate permissions and competency when they under the remit of the FCA, according to HM Treasury. Under rules proposed in the Treasury’s latest consultation paper, claims management companies will operate under six sectors – housing disrepair, industrial injuries disablement benefit, personal industry, financial products and services, criminal […]
Knowing what assets each operator will accept and with what conditions is becoming increasingly difficult The recent well-publicised events concerning Sipp operator asset acceptance have focused the mind of a number of advisers. We have been fielding enquiries about our own Sipp and the asset classes we as a Sipp operator would consider. But this […]
Investment trust sales may come under pressure due to new EU rules, experts have warned. The potential benefits of gearing on investment trusts risk being overlooked as new cost reporting rules make them look more expensive compared with open-ended funds. Traditionally, closed-ended funds have looked attractive based on lower costs compared with other structures, as […]