The FSA has put back the deadline for smaller IFAs to submit details of their review population for the FSAVC review. The deadline for IFAs which advised on or arranged less than 100 FSAVCs has been changed to September 15 from September 1, 2000, the same date as firms with 100 to 1,000 FSAVC cases. Those that advised or arranged over 1,000 of the policies must report by October 16, 2000.
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Occupational policyholders concerned about ethical investment
A majority of occupational pensions policyholders want to use their influence to encourage socially responsible behaviour by companies says research by fund manager Friends Ivory & Sime. The findings add to growing pressure on fund managers to take the ethical behaviour of companies into account as much as their profits before investing in them. However […]
IFAP and Aifa are poised for merger
Trade association Aifa is set to merge with IFA Promotion.Aifa director general Paul Smee has received the backing from his board to “pursue discussions with IFAP” about their working relationship which are likely to see him head a merged organisation.Industry sources say five of the seven-member IFAP board also support rolling the organisation into Aifa.The […]
National Mutual staff promoted to support IFAs
National Mutual has promoted several staff to key senior positions where they will be responsible for supporting independent advisers.Andrew Wilkinson has been appointed head of marketing. He has been with National Mutual for 10 years and was most recently area sales manager for the south of England.Mike Mead, who joined National Mutual last year after […]
Playing a waiting game on nursing care legislation
I refer to the article in the August 3 edition of Money Marketing. I hope Roger is indeed correct in that premiums will reduce as a result of a need to cover off a smaller fee liability. However, I would suggest caution is required.I do not believe anybody can, with certainty, identify from the Government's […]
Flexible reversionary trusts and estate planning
The suitability of different estate planning solutions will depend on the individual’s own circumstances, needs and objectives. When considering the different solutions available there is a trade-off between inheritance tax (IHT) efficiency and access. Overall a flexible reversionary trust provides a greater level of flexibility than a discounted gift trust and can offer individuals a […]
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Amber Rudd to return as work and pensions secretary
Former home secretary Amber Rudd is set to return to the cabinet as work and pensions secretary, according to reports. The appointment follows the departure of Esther McVey yesterday over her refusal to back the government’s draft Brexit deal. According to reports, Rudd, a remainer, was offered the job after environment secretary Michael Gove spent […]
FCA writes to pension transfer introducer clients over legal action
The FCA has written to all former clients of Avacade Limited, an unregulated pension introducer, to inform them about its legal action against the firm and its directors. In November 2017 the FCA said it would start civil proceedings against Avacade Limited, now in liquidation, and its three directors Craig Lummis, Lee Lummis and Raymond […]
Fears protection commission disclosure will turn clients off advisers
As new disclosure rules bring the full extent of protection commissions into the spotlight, experts are asking if this will see clients ditch their advisers in favour of execution-only services. Under the Insurance Distribution Directive, from 1 October advisers have had to provide clients with information before a product sale about any commission received, which […]
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