The Investment Management Association has changed the name of the protected/guaranteed sector to the protected sector and revised its definition. The new sector will be flagged under two headings – capital protection at maturity and protection/ floor funds from December 1.
The FSA is consulting on planned changes to its fee structure that will see minimum fees for IFAs nearly halve from £1,850 to £1,000. Variable fees fall for 56 per cent of advisers and only rise for 1 per cent and there is an easing of levies for firms that operate across fee blocks.
Cofunds has appointed Stephen Wynne-Jones as head of marketing operations.
The FSA is concerned brokers could be referring clients to claims chasers without the approval they need to meet data protection rules.
Partnership is looking for tied distribution of its long-term care products and says it would “bite the hand off” any banks offering distribution arrangements. Partnership currently has 80 per cent market share in the immediate needs annuity space which are used to fund long-term care. Axa is another serious player but there are only around […]
Much has been publicised about how to calculate the tapered Annual Allowance (AA). Are you aware that any subsequent planning could affect the taper calculations? Read more
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As the outlook for the UK’s economy remains uncertain, how can advisers prepare portfolios for any change in inflation? As higher inflation fails to appear on the horizon and wages grow faster than expected, fund managers are weighing up their portfolio moves for any potential changes in the economy. The UK consumer prices index rose […]
IFA directors Kevin and Cheryl Neal have been banned from being company directors by the Insolvency Service for six and four years, respectively. The married couple ran the now-defunct Hertfordshire-based Kevin Neal Associates Wealth Management. They were disqualified for taking assets from an insolvent company. The firm had been incorporated to take over the business interests […]
Hartley Pensions has bought the “untainted” assets of the Lifetime Sipp Company, which went into administration earlier this year. An update published today on the website of Lifetime’s administrators Kingston Smith & Partners says Hartley Pensions has also agreed to administer the tainted Sipps held by Lifetime Sipp. The administrator described tainted assets as those where […]