Framlington is offering what it is calling a “knockout transfer deal” for May, allowing investors to transfer their Peps and Isas into four funds managed by star fund managers Nigel Thomas and George Luckraft for no initial charge. It is offering 1.5 per cent up-front commission to IFAs during May, with 0.5 per cent a year renewal.
Scottish Equitable has imp-osed swingeing cuts on payouts from its closed with-profits funds following heavy investment losses, leaving some bond investors with less than the value of their original investment.After five years invested, a £10,000 investment in a with-profits bond will now be worth only £8,402 compared with £13,911 last year as its terminal bonus […]
F&C Management's position in the UK retail market looks uncertain following its decision to close its IFA salesforce as financial pressure on the fund management industry continues to mount.In a move that IFAs fear could be the first of many, F&C has made its salesforce of eight redundant and scaled back its retail ambitions to […]
The Intermediary Mortgage Lenders' Association says home seller's packs will raise costs and fail to improve consumer understanding.The Government sent out details of the proposed packs last week. Imla chairman John Heron says the plans have changed little since the original scheme was unveiled despite extensive feedback from the industry warn- ing the Government of […]
Financial services companies have slashed jobs at the fastest rate for more than six years according to latest research by CBI/PriceWaterhouseCoopers. Its quarterly survey showed a 30 perc ent drop in staffing over the last three months, the biggest since September1996. The research also showed two consecutive quarters of declining business for the first time […]
In 2016, Cormac Weldon expects the economy in the US to favour selected smaller companies in housing, airlines and technology.
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The Financial Services Compensation Scheme has declared self-invested personal pension operators Stadia Trustees, Brooklands Trustees and Montpelier Pension Administration Services in default. The lifeboat fund has received around 150 claims for compensation relating to the three businesses. Those claims relate to how the businesses set up, operated and administered Sipps through which people invested in […]
The Department for Work and Pensions has confirmed it will not change the pensions triple lock and will explore bolstering the powers of The Pensions Regulator in the forthcoming legislative period. The DWP published its “single departmental plan” yesterday, which sets out five objectives it is working towards over the next four years. It has […]
Sam Seaton talks about how her interest in people affects her approach to technology