IFAs will still be able to sell complex products to “intermediate” clients under Mifid because of a loophole created by the FSA. Law firm CMS Cameron McKenna says FSA proposals will allow current intermediate clients to be “grandfathered” into the Mifid regime as “professional” clients without having to meet strict new criteria.
Consumer portal Find has bought Defaqto’s parent, The Independent Research Group, in full
FSA backs condemnation of insurers using detectives
Direct Life & Pensions sales and marketing director Richard Verdin says Icob advisers should sell pension term assurance without advice rather than with a caveat which says they cannot advise on the suitability of the product. Verdin says he knows of specialist protection advisers that do not sell PTA because they are uncomfortable with the […]
The AA has set up an IHT planning operation and will offer advice on wills and trusts. The motoring giant is also launching a conveyancing arm as part of its wider drive to build on the legal services operation it started earlier this year. The move means that the AA’s huge brand appeal is likely […]
The Department for Work and Pensions (DWP) has unveiled a new communications campaign to raise awareness of the new State Pension that will be launched next year.
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Claims management companies must be more specific on separate permissions and competency when they under the remit of the FCA, according to HM Treasury. Under rules proposed in the Treasury’s latest consultation paper, claims management companies will operate under six sectors – housing disrepair, industrial injuries disablement benefit, personal industry, financial products and services, criminal […]
Knowing what assets each operator will accept and with what conditions is becoming increasingly difficult The recent well-publicised events concerning Sipp operator asset acceptance have focused the mind of a number of advisers. We have been fielding enquiries about our own Sipp and the asset classes we as a Sipp operator would consider. But this […]
Investment trust sales may come under pressure due to new EU rules, experts have warned. The potential benefits of gearing on investment trusts risk being overlooked as new cost reporting rules make them look more expensive compared with open-ended funds. Traditionally, closed-ended funds have looked attractive based on lower costs compared with other structures, as […]