View more on these topics

General Motors finance subsidiary buys Private Label

GMAC-RFC, a mortgage subsidiary of US car giant General Motors&#39 financing company, has beefed up its UK distribution with the acquisition of Private Label.

Private Label will now be backed by a global finance company with assets of around US$110bn as it embarks on a growth strategy that includes boosting its services to IFAs.

Private Label chairman Stephen Knight says: &#34Private Label&#39s ambition is to become the largest originator of mortgage loans in the UK, using the American definition of originator, namely a company that specialises in generating loans for the balance sheets of others.&#34

Knight says the company will now take over loans &#39post completion&#39 to add to the current &#39at offer&#39 service.

As part of the growth strategy the company wants to speed up the delivery of mortgage offers and completions to IFAs.


PIA fines 20 more IFAs over pensions review

The PIA has fined 20 small IFAs a total of £76,000 for pension review failures.The firms are being disciplined for failing to take all reasonable steps to meet the December 1997 deadline for completing 90 per cent of their most urgent cases.The regulator which has issued fines totalling over £500,000 in the last five months […]

IFAs get access to leisure and sports fund

Swiss Investment banking house Svecia Group is launching its Global Sports Fund into the IFA market.The fund invests in companies which derive a high proportion of their earnings from sport and leisure activities such as Nike, Adidas and BSKYB.Chief executive Henrik Johnsson says: &#34Unlike other narrowly focused sports investment vehicles launched in the past, this […]

European ethical bank offers trail commission for introductions

European ethical investment specialist Triodos Bank has introduced trail commission for IFAs.The Bristol based bank will allow IFAs to earn a trail commission for introducing new customers which it says it will negotiate on an individual basis.The bank will only finance enterprises in fields such as social housing, organic agriculture renewable energy and complementary healthcare.Interested […]

Microsoft imports its professional development conference from the US

Microsoft is importing its Professional Developer Conference from Denver Colorado to Birmingham and is advising IFAs to book early as the US event attracted over 6500.The conference which promises the best bits of the US version takes place on December 4.The one-day event will focus on application development within Windows 2000. Microsoft says the new […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm