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IFA sets up equity-release firm aiming for referrals

Reading-based IFA Advice on Money has set up an equity-release service aiming for referrals from IFAs and mortgage consultants.

The Equity Release Centre is a whole-of-market service aimed at those who have either decided not to apply for lifetime mortgage authorisation under the FSA requirements or for those who would simply prefer not to spend the time meeting the increased compliance requirements.

Commission is split between ERC and the introducer. ERC gives an undertaking not to cross-sell but will advise on other areas where the introducer is not regulated if the introducer gives its permission.

ERC principal Keith Hargraves says: “Outsourcing enquiries to us be a more cost-effective use of time and we also guarantee to refer clients back to the original introducer for them to benefit from any further business which may arise.”


Three in a row for IF as it tops Press Watch survey

Online bank Intelligent Finance has topped the table of the Press Watch media survey for the third consecutive month. In March, IF was ranked first out of 651 financial services firms covered by the UK national media. Halifax, IF&#39s parent company, came second, up from third from last month, with Nationwide moving up three places […]

Company pension gap is closing fast

The pension crisis is easing with a massive £60bn wiped off UK companies&#39 pension deficits through improved equity values and increased contributions, says the CBI. It says the pension deficit of UK companies fell by 37 per cent to £100bn at the end of 2003 from an estimate of £160m last June. The CBI described […]

Premier rolls out new structured offering

Premier Fund Managers is to launch a new structured product offering investors a potential of 8 per cent growth a year with the return of capital invested. The scheme is designed as a six-year investment although the plan can mature earlier depending on the FTSE100. Investors can expect 8 per cent capital growth if the […]

NU slaps guarantee charge on NUL&P fund

Norwich Union is placing a 0.75 per cent charge to pay for guarantees on its NU Life & Pensions with-profits fund to allow it to maintain its 52 per cent equity backing ratio. The life office has also published principles and practices of financial management for all of its with-profits funds. Under the FSA&#39s new […]


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