Intelligent Finance has been forced to review its exit fee charges after the FSA viewed its wording as unfair to customers. IFs terms allowed it to unilaterally increase its exit charge for mortgages within the all-in-one account. This was criticised by the FSA for using terms viewed as unjust. IF says it has worked with the FSA to address these concerns and has inserted new wording to its terms and conditions.
Nationwide chief executive Philip Williamson becomes the newly elected chairman of the Building Societies Association for 2005 to 2006.He replaces John Parker ceo of Stroud and Swindon Building Society, who has held the post for the past year.Williamson joined Nationwide in 1991 to head up commercial lending. In 1994 he was promoted to divisional director […]
Norwich Union is bringing its 1,000 Indian call-centre staff in-house in a move that will enable it to bypass a potential tax charge.
I read with interest the front-page article in Money Marketing’s April 21 issue – IFAs told to cover their backs on with-profits. Some of the points made in the piece are valid but painting such a wholly negative picture about with-profits hardly seems to be constructive or helpful for IFAs and their clients.
By George Boyd-Bowman, Manager of the Neptune Global Income Fund Recent research has indicated that global dividend growth will slump by as much as 50 per cent in 2016. As collapsing commodities hit high-profile dividend payers, George Boyd-Bowman explains why the US and Japan are his top picks for income growth in 2016. Click here […]
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Columbia Threadneedle is calling for auto-enrolment into drawdown funds for people nearing retirement. According to research by the asset manager, people planning their retirement are confused about how they will convert their pensions savings into income, how much they might need in retirement and how long their savings might last. The firm said that following […]
Unintended consequences of the pension reforms could further affect access to advice, ultimately derailing consumer freedom and choice. There is already evidence professional indemnity insurers are beginning to withdraw cover or harden terms for advisers associated with defined benefit transfers. But this is not a failure of PII. It is a more fundamental system failure, […]
Nearly two-thirds of clients had to proactively prompt their adviser for information about the Financial Services Compensation Scheme, a mystery shopping exercise has revealed. In a series of studies commissioned by the lifeboat fund, it has found that awareness of the FSCS is likely to lead to less risky product choices and greater sales of […]