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IFA warns against Brown&#39s IHT pledge

The Millfield Partnership investment specialist Anthony Clements welcomes the rise of the inheritance tax band to £263,000 but warns the Chancellor is underestimating the number of estates that will be affected by IHT.

Clements says: “Although the move does not reflect, nor has it done in previous years, the rise in people&#39s wealth and in particular the value of their main asset, their house. While Gordon Brown says that 90 per cent of estates will be IHT free, I am convinced that the recent rises in house prices mean that more and more people&#39s estates will be subject to IHT, perhaps without them being aware of this while they are alive.”


Universities&#39 scheme switches managers

The Universities Superannuation Scheme, the UK&#39s third-biggest private-sector pension fund, has dropped three external fund managers. Schroders, Baillie Gifford and Merrill Lynch Investment Managers have been replaced by Wellington Management International, Goldman Sachs Asset Management and Legal & General Investment Management. The scheme has £19bn in assets for more than 200,000 individuals in 350 universities […]

Brokers sceptical at claims

Brokers do not think house prices went up in February by as much as some of the indices are suggesting. Hamptons International Mortgages technical director Jonathan Cornell says in his experience, house prices continue to increase steadily in London and the South-east in February but he says the increases seen are nothing like the figure […]

1% world is to blame for poor pension service

I recently undertook a review of a client&#39s investment portfolio on the issues of inheritance tax and her investments. This included her Standard Life personal pension fund, into which her estranged husband&#39s company pays a reasonably sizeable sum each month, as does she. Her policy is one of a grouped arrangement, presumably for all full-time […]

Skills Council consults on exam review

The Financial Services Skills Council is embarking on an industry-wide consultation for its examination review. Launching tomorrow, this will be the first time the exam review has gone out to an industry-wide consultation since the FSA handed over responsibility for completion of the exam review to the Skills Council. The FSSC is seeking views from […]


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