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IFP chooses new president

Institute of Financial Planning vice president Ian Shipway is replacing Campbell Edgar as president of the IFP while Jane Wheeler is to be the IFP&#39s new vice president. John Porteous and Barry Horner are joining the IFP&#39s board.

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LIA votes yes to merger with Sofa

The LIA&#39s extraordinary general meeting today on the proposed merger with Sofa came back with a resounding yes vote. Two thousand six hundred and sixty four votes (87 per cent) were in favour of the merger with just 414 against. Three thousand and seventy eight votes were cast. Sofa&#39s EGM is on Friday.

Schroders joined by Sutton

Julian Sutton has joined Schroders&#39 multi-manager team as a senior fund manager from Credit Suisse Asset Management. His appointment comes just one month after the launch of Schroders&#39 multi-manager funds and brings the multi-manager team to six. Sutton will be responsible for analysing and monitoring investment funds, including Schroders&#39 S&P strategic balanced and S&P high […]

Standard Life goes back on endowment promise

Standard Life has suspended its mortgage endowment promise, potentially hitting 600,000 policyholders who suffer a shortfall. The promise was conditional on Standard increasing its free capital from its level in September 2000. However, the firm says poor investment conditions over the last four years mean it cannot justify making further provisions towards the cost of […]

L&G attacks FSA over £1.1m misselling fine

Legal & General director of compliance Diana Miller has attacked the FSA for failing to grill any intermediaries during an investigation into endowment misselling. Miller told a financial services and markets tribunal that the regulator had no und-erstanding of L&G&#39s sales processes because it had failed to speak to any advisers. L&G is appealing against […]

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