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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Providers are reviewing their marketing packages to advisers at conferences and on websites amid concerns they will fall foul of new inducement rules under Mifid II. Mifid II, which came into force on 3 January, brought in more stringent rules around “non-monetary benefits” from providers to advisers. The rules have been translated into the FCA conduct of […]
A misleading headline rate of unemployment means opportunities are being overlooked by investors
The FSCS is budgeting an extra £3.5m to cover the cost of running the scheme this year. The management expenses levy, which is used to cover the cost of administering the scheme separately from any compensation payments made, proposed for 2018/19 by the FSCS today is £77.7 million, up 5 per cent on the previous […]