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.
- Top trends
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]
The Liberal Democrats have branded the government’s decision to delay a pot follows member pension system “incompetent”. The Liberal Democrat spokesman for work and pensions Stephen Lloyd MP says the move by pensions minister Guy Opperman shows how “rudderless” the current government is on pensions policy. Last October Opperman suggested the pot follows member initiative […]
Putting the right people off transferring at the outset will be hugely valuable to the industry but there are issues to address A combination of pension freedoms and the economic circumstances giving rise to historically high transfer values has created a perfect storm in terms of demand for defined benefit transfer advice. Sadly, it has […]