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FSA tells firms to be more open on WP

The FSA has issued a warning to consumers over Isa guides, telling them to make sure they “take them with a pinch of salt.”

FSA head of consumer education Deborah Arnott said consumers should always read the fine points and resist sending off a cheque straight away.

Last year, FSA managing director John Tiner said the regulator has problems with the guides, saying eight of the 14 looked at in the previous Isa season were not up to scratch.

This week, Arnott says the guides are “certainly not going to be the most suitable for everyone.”

Other tips included finding out who is selling the product and looking at what the Isa is invested in.


Lion Trust recruits head of distribution

Liontrust has appointed Mickey Morrissey as its new head of distribution. In his new role, Morrissey will be responsible for third party distribution, and will report to joint chief executive Nigel Legge. Previously he worked at Merrill Lynch Investment Managers in a similar capacity. He will join Liontrust on May 7.

Wake up to change

The history of the last 10 years has been one of continuous change for IFAs – and CP121 presages even more.Before rushing in headlong to take this on, now would be a good time for IFAs to pause and reflect on the nature of change and how best to survive it.We have managed a number […]

Accountants and ABI in plea to DWP over stakeholder rules

Top accountancy firms along with the ABI are calling on the Department for Work and Pensions to amend stakeholder regulations or face a potential string of resignations from reporting accountants.Under stakeholder rules, each scheme must have an appointed reporting accountant. But an accountancy firm cannot take up the position if any of its employees hold […]

MGM offers capital investment

MGM Assurance has introduced the sixth issue of its capital investment bond, a unit-linked bond that aims to produce income and capital growth.The bond provides access to 11 MGM funds, including European, fixed interest, UK equity and North America. There is also one external fund, the Lazard managed fund and investors can choose just one […]

Leading Edge June – Investment panel debate

RLAM’s asset class specialists discuss some of the findings from the panel session at our recent Investment Conference. By Rob Williams, Head of Distribution Welcome to the latest edition of Leading Edge. It has been an eventful six months since the last e-zine. The European Central Bank announced ongoing stimulus measures, while the immigration crisis in Europe threw the […]


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