The IFAA fears that the FSA's proposals will invalidate IFA's professional indemnity insurance. Its main objection is that the proposed actuarial assumptions for assessing losses are based on economic conditions of 1998.
Capulet Financial Management financial planning director Richard Facer is issuing a county court summons against Stewart Kennedy, principal of lead-generation company Business Appointments, and not a county court judgment as stated in the February 12 issue.
The PIA has fined a Kent broker £10,000 after “serious concerns” were identified in a monitoring visit. It says Julian Harris Financial Consultants of Musgrove, Ashford, failed to seek relevant information about the circumstances and investment objectives of its clients and failed to organise and control its internal affairs in a responsible manner. The PIA […]
Exeter Fund Managers is offering a 1.5 per cent discount on the initial charges for its two Pep portfolio funds. The initial charge has been cut to 3.5 per cent from 5 per cent for the Chameleon Income Portfolio and the Chameleon growth fund until May 29. An annual charge of between 1.25 and 1.5 […]
With-profits policies – both lump-sum and regular savings – are arguably the only mass-market investment products worth having since, unlike unit-linked endowments, they offer both greater flexibility and lower charges With bonuses for 1998 now being declared, 25-year policies maturing this year are showing average returns of 13.5 per cent tax-free – a very respectable […]
By Mark Martin, manager of the Neptune UK Mid Cap Fund, and Scott MacLennan, manager of the Neptune UK Opportunities Fund H1 2014• Equity markets continued to show strength: despite a strong rally in 2013 driven by a market-wide re-rating, equity markets continued to generate positive returns for investors. Economic activity continued to be stimulated […]
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The work and pensions select committee is calling on the Government to ban pension cold-calling through the Financial Claims and Guidance Bill next year, as well as making people either take or opt out of guidance before accessing their pension. The committee opened an inquiry into pension freedoms in September and has published its report […]
Asset managers have been branded “arrogant and complacent” by the academic tasked with creating a new template for fund costs and charges. Transparency campaigner Chris Sier, who is chairing the regulator’s disclosure working group, has told The Times that he estimates £35bn a year is being overcharged from pension funds in hidden costs. On those […]
Only a fraction of advisers that are qualified to sell equity release products actually do so, new research suggests, as one provider says this is because advisers like to ‘collect exams’. According to equity release specialists Pure Retirement, around 9,000 advisers in the UK are currently qualified to offer equity release, yet just 500 to […]