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IFS in A-Day warning for mortgage firms

The Institute of Financial Services has warned mortgage professionals against ignoring the significance of A-Day and warning of compliance problems for those who are not prepared.

Head of faculty financial regulation Mark Roberts says the run-up to April has focused on the effect on pension specialists but it could leave mortgage and other finance professionals in trouble.

He says the IFS is updating all its regulatory qualifica- tions, including its certificate in mortgage advice and practice and certificate for financial advisers which will affect all those currently studying for the qualifications.

Roberts says: “The changes surrounding pension tax simplification are not limited to those advising on pensions and investments but will affect all professionals currently advising on personal finance.”

The Personal Finance Society is also preparing its members for April with half-day workshops, offering advisers the latest information in dealing with the new regime.

Public affairs director John Ellis says the events, free to members, will take into account recent Sipp changes and provide technical help in dealing with next April’s changes.

He says: “Many advisers have requested being updated on the new regime, especially in light of changes made in Gordon Brown’s pre-Budget. It is important that all our members are prepared and compliant by April and these workshops will help ensure this is the case.”


Rathbone IM appoints new investment director

Rathbone IM has appointed James Maltin as an investment director responsible for managing private client portfolios. Maltin joins after five years at HSBC investments where he headed up the investment trust committee. He also managed private client portfolios and trust companies in the UK and offshore. Rathbone head of investment management Richard Lanyon says: “We […]

Old Mutual still holding out hope for Skandia deal

Old Mutual has again extended the deadline for Skandia shareholders to accept its offer and believes it is building the momentum to carry the deal through. The South African insurer says 69.7 per cent of Skandia’s shareholders have accepted the bid, which is 5.3 per cent short of the 75 per cent threshold it requires […]

AITC says pension deficits could affect growth prospects

73 per cent of investment trust fund managers say company growth prospects will be affected if companies are forced to pay off their pension deficits over the next ten years. They also have concerns about a lack of consumer spending and rising interest rates according to the AITC’s recent survey of 31 managers from 42 […]


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