The FSA has fined The Ancient Order of Foresters Friendly Society 55,000 for financial promotion failings. The firm is run by Financial Services Practitioner Panel chairman Mark Rothery.
Admin: Hamptons Mortgages technical director Jonathan Cornell looks at why so few lenders keep brokers up to date on the progress of their clients’ applications
‘Many bigger players seem to think they are beyond regulator’s reach’
The FSA has warned financial advisers to check the status of land banking companies before putting their clients into such schemes.The regulator says it is concerned over whether land banking schemes are collective investments and therefore subject to regulation.Schemes that are deemed to be collective, but where there is no regulation, would be operating illegally.It […]
Rising pension term assurance sales could lead to a fall in sales of critical-illness cover, says CWC Research senior partner Clive Waller. He says most life products sold are term policies with accelerated critical-illness cover but accelerated CI cannot be sold alongside PTA. CI stand-alone insurance is the only CI option available with PTA but […]
The Family and Childcare Trust’s annual survey has been widely reported in the media and the two headline figures were these: the average cost of a nursery place for a child under two has risen by 33 per cent since 2010; and the costs have risen by five per cent in a single year.
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As the outlook for the UK’s economy remains uncertain, how can advisers prepare portfolios for any change in inflation? As higher inflation fails to appear on the horizon and wages grow faster than expected, fund managers are weighing up their portfolio moves for any potential changes in the economy. The UK consumer prices index rose […]
IFA directors Kevin and Cheryl Neal have been banned from being company directors by the Insolvency Service for six and four years, respectively. The married couple ran the now-defunct Hertfordshire-based Kevin Neal Associates Wealth Management. They were disqualified for taking assets from an insolvent company. The firm had been incorporated to take over the business interests […]
Hartley Pensions has bought the “untainted” assets of the Lifetime Sipp Company, which went into administration earlier this year. An update published today on the website of Lifetime’s administrators Kingston Smith & Partners says Hartley Pensions has also agreed to administer the tainted Sipps held by Lifetime Sipp. The administrator described tainted assets as those where […]