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IFAs name top firms for HNWs

IFAs rate Skandia and Standard Life as the best providers for high-net-worth clients, according to a Datamonitor survey.

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Bright Grey warns big mortgages are putting borrowers at greater risk

Bright Grey says more first-time buyers are falling into the protection gap due to rising monthly mortgage repayments. Product director Roger Edwards says he is concerned by deals such as Abbey’s new deal which allows borrowers to take out a mortgage of up to five times their income. He says people who take out bigger […]

Vertex creates new subsidiary for Gartmore admin

Vertex Financial Services has extended its outsourcing contract with Gartmore creating a new subsidiary Jessop Fund Managers. The new company will enable Gartmore to hand over their admin and regulation responsibilities of their personal pension unit trust range to Jessop. Gartmore will retain the management of the investor monies within their funds and the underlying […]

Close plans mortgage deal to mitigate IHT

Close Mortgages is planning a mortgage which can be used to mitigate inheritance tax. The firm is gauging demand for the product, which would enable homeowners to borrow the difference between the IHT threshold and the value of their property and put the funds into a tax-free investment vehicle so that IHT is avoided. Close […]

Watchdog says a nod is giving advice

The Financial Ombudsman Service has warned that something as simple as a nod could be construed as advice during the non-advised sale of a protection product. Lead ombudsman for insurance Peter Hinchliffe says customers often ask questions which relate to the suitability of a policy when buying through a direct sales channel and a nod […]

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