View more on these topics

IFAs warn that ISA feeders will restrict choice

IFAs are warning clients to think carefully before opening pre-cash ISA accounts describing them as nothing more than &#34marketing gimmicks&#34.


They are warning clients that the products will tie them to companies that will not be offering the best ISA products in April.


And if they shop around they will find that other building societies and high street banks are offering more attractive interest rates for their cash.


Chase de Vere consultant Justin Modray says: &#34These companies are attracting investors by offering them cash incentives to transfer their money into ISAs in April. The problem with this is that consumers will be tied to these companies which will not be offering the best rates for ISAs.&#34


The seven companies are Abbey National, Barnsley Building Society, Birmingham Midshires, Halifax, Lambeth Building Society, Market Harborough Building Society and Sun Bank are offering the products.


Recommended

SWI gives two UK bonds UK launch

Scottish Widows International is offering its International Bond and its Private Portfolio Bond to UK investors for the first time. Previously the products were only available to non-UK residents.Scottish Widows is also launching a dedicated Year 2000 helpdesk for IFAs which can be accessed via the company&#39s extranet site, e-mail or telephone. It will outline […]

St Paul buys L&E&#39s PI business from Norwich Union

St. Paul International is buying London & Edinburgh&#39s IFA professional indemnity business from Norwich Union.Norwich Union acquired the £9m portfolio from London & Edinburgh Insurance in October 1998.St. Paul has purchased the right to invite renewal of policies as they fall due and will take over the handling of run-off claims.St. Paul chief executive officer […]

Lloyds TSB tempts healthcare customers with Paris holidays

Lloyds TSB Insurance is tempting customers into their health protection range by offering them the chance to win four luxury trips to Paris in a prize draw.The trips include two tickets to see the France vs Scotland Five Nations rugby match and two first class Eurostar tickets to Paris.Customers qualify to enter the draw when […]

Clinicare limits PMI increase to 5 per cent

Clinicare says it is increasing PMI premium rates by just 5 per cent for the second consecutive year.It says the modest increase is the result of a very successful 1998 during which it picked up a number of sizeable group schemes.Group manager Les Curson says: &#34Some providers will raise subscriptions by 25 per cent. Our […]

The curious market reaction to Brexit

Written by Mike Riddell29 June 2016 Headlines over the past few days have screamed about record falls in sterling, record low bond yields and massive falls in equity prices. However, if you take a slightly longer view of markets rather than simply the one- or two-day reaction, I think it’s amazing how little markets have […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment