Appointed representatives of intermediary First4- Brokers have been told that they can carry on conduc- ting business.Administrator Moore Ste-phens says that as F4B is still a regulated entity, its 29 ARs can continue trading, even though it advises them not to. The FSA has come under fire for failing to protect F4B’s ARs. Network Data managing director Richard Griffiths says all networks need to be scrutinised by the regulator. Griffiths says: “Networks must have their systems in order but some of the existing networks’ systems are sub-standard. The FSA must pull their finger out and investigate all networks.” F4B had five full-time staff and directors, inclu- ding managing director Charles Gooding, when it went into administration on August 11. Administrator Mark Bowen says: “We would encourage ARs not to write business as they may lose out more but F4B still has its FSA licence. Other networks have approached some of the ARs already.” Bowen says it is still unclear if F4B is one of four networks to have volunt- arily agreed not to hire any ARs until adequate systems are in place. Money Marketing used the FSA’s register to reveal when each network last recruited but failed to dis-cover the identities of the four networks. Thirty-five of the 36 networks questioned either denied that they were one of the four or had already made public statements to that effect. The other broker is F4B. One source says two of the four are small general insurance firms.
Standard Life has rolled out its PTA product Life Insurance with Tax Relief on the internet via online submission, including underwriting.
Synaptic has signed up national IFA M2 to use its new online offering Clarity. The firm’s 36 advisers and 15 paraplanners will be fully licenced to use the service which is set to rival Defaqto’s online search engine Aequos Engage.
NDF has set up a secure growth plus plan, which has 100 per cent capital protection and offers a guaranteed return of 10 per cent of original capital plus 50 per cent of the growth in the index at the end of the term.
A number of supply factors are keeping oil prices high and they could go even higher in the short term
By Neil Jones Technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The treatment of non-UK domiciles that are resident in […]
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
Independent governance committees at big-name pension providers are failing to safeguard the interests of savers and the FCA must take action, fresh research finds. In 2015, the FCA required contract-based pension providers to appoint IGCs to act as champions of savers’ interests. IGCs are required to publish annual reports to increase transparency and encourage comparison […]
The FCA is reviewing the content of its pension transfer specialist examination standard in light of recent issues with pension transfer advice, Money Marketing understands. The regulator does not offer qualifications but it does have a role in setting standards for exams and publishes “appropriate examination standards” guidance. Money Marketing understands a working group, mostly […]
Building on auto-enrolment’s success and fine tuning the pensions dashboard are high on the list As I write my first Money Marketing column of the year, it has given me an opportunity to look back on what the Government has done to transform pensions and savings for people since 2010. Five years on from the […]