Pressure from the investment industry has resulted in a U-turn in Government policy on its Child Trust Fund initiative. A Treasury paper to be published later this month will reveal the funds will be equity-based instead of cash-based. The paper will also call on fund managers to establish stakeholder-compliant funds for parents not wanting to make investment decisions themselves. However the industry only sees this as a partial victory as no more than 60 per cent of a fund will be able to be invested in equities.
Rating agency Fitch is warning against complacency and over-confidence in the UK life insurance sector despite the recent lift in equity markets and it is maintaining its negative outlook for the sector.Fitch says there are still “significant challenges and difficulties ahead”, with consolidation meaning that the weaker and “less well positioned” players will continue to […]
Being able to manage money makes people more attractive to the opposite sex than good dress sense or owning your own home, according to Halifax research.Ninety-one per cent rank a good personality as the most appealing characteristic in a potential partner, followed by 89 per cent who rate a good sense of humour highly.Skill with […]
Charcol is offering an initial fixed rate of 2.25 per cent on its federal reserve tracker mortgage until the end of March. The loan is a fix and track mortgage based on the lower US short term interest rates.
”Three people over dinner last night told me that I didn't look like Shrek.” – Bankhall's Peter Mann.”I'm sure I was Shep in a previous life.” – Abbey National for Intermediaries' senior key relationship manager Lawrence Gilgallon discusses a pilgrimage to the Blue Peter garden.”There is definitely fish in that icecream.” – Abbey National for […]
Jim Grant – Senior Product Insight & Technical Support Analyst We look at how higher DB transfer values could cause a lifetime allowance issue and how that affects the advice process. Advisers are receiving an increasing number of requests from clients looking to transfer their pension from final salary schemes to personal pensions. This is a […]
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It is encouraging to see the FCA close in on lazy fund management, but more needs to be done Without fanfare, the FCA has confirmed its intention to punish lazy fund management. Several groups have been persuaded into voluntarily compensating investors who bought their beta-posing-as-alpha products, otherwise known as closet trackers. The regulator suggests that […]
Ex-GBST man and FinoComp chief executive Ray Tubman on the need for a brave new world of interoperability Platforms running on proprietary technology often see this as a competitive advantage, even if it is expensive to run. But ex-GBST man and now FinoComp chief executive Ray Tubman does not believe outsourcing is the poor relation. […]
Ahead of speaking at Money Marketing Interactive in May, founder and director of The Yardstick Agency Phil Bray gives tips on how advisers can improve their public image and why the FCA should rethink their plans for the register On a scale of 1 to 10, how optimistic are you about the advice market for […]