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 […]
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]