GE Life is offering £100 compensation to clients who do not get their tax-free cash payments on income-drawdown policies promptly.The group is keen to push its service as a differentiating factor and the offer applies to all fully insured drawdown applications received by June 1. The offer does not apply to annuities, as was previously reported in Money Marketing. The guarantee to pay tax-free cash within seven working days or compensate the client runs from the date that GE Life receives all relevant documents. It will initially have a six-month run and the group will then review whether to continue it. Drawdown product manager Ray Chinn says tax-free cash is key to clients’ retirement planning. GE Life says it could extend the service guarantee to include quotation delivery to IFAs.
Demand for venture capital trusts isstarting to soar.Sales have topped £160m, having more than doubled over the last two months. There are over 30 VCT promoters and managers vying for investors’ money.The gulf between the best and worst-performing VCTs is wide so investors need to be careful. Pennine Aim VCT 5 merits serious consideration. The […]
If you had told me a couple of weeks ago that I would be writing a column advocating the use of an online new bus-iness system that requires a hard copy signature from the client as part of the process, my answer would probably have been unprintable. Today, you are reading that column. This goes to show that it is always important to keep an open mind and that if you do things in the right order you can achieve the best of both the old and new worlds.
Framlington has opened its institutional managed balanced fund to retail investors 12 years after the fund was introduced.The fund was originally an exempt unit trust used by Framlington’s own defined benefit pension scheme. Framlington believes the fund fills a gap in its retail range, so decided to create a retail share class rather than establish […]
Do life offices have a duty to inform policyholders of MVR-free windows in with-profits policies?
By James Hackman, Manager of the Neptune US Income Fund Watch James Hackman, Manager of the Neptune US Income Fund, discuss why he believes companies demonstrating dividend growth – not just with high headline yields – is key in generating outperformance in the US. Click here to watch the video Important information: Investment Risks Neptune […]
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Royal Bank of Scotland has joined rivals like HSBC in launching an automated investment advice service for more than five million customers. The bank claims to be the first bank in the UK to launch a “fully regulated” robo-advice service, which will be under its NatWest brand. The service, live from Monday, is targeted at […]
There is nearly £8.5bn in “drifted” legacy UK equity income funds that have underperformed against the sector over the past decade, research has found. As the fund management industry awaits Mifid II next year, Morningstar has analysed the competitive UK Equity Income sector on behalf of Money Marketing and found about 10 per cent of the sector’s […]
Old Mutual Global Investors has appointed Freddie Woolfe head of responsible investment and stewardship, reporting into chief executive Richard Buxton. Woolfe joins from Newton Investment Management, where he was a responsible investment analyst primarily covering the healthcare and technology, media and telecommunications sectors. Previously he held roles at Hermes Equity Ownership Services and HSBC. Woolfe will […]