Amvescap is giving new chief executive Marty Flanagan a pay deal worth 28m after recruiting him from Franklin Resources. His 450,000 salary is supplemented by a 2.6m performance-related bonus and 25m in shares. The firm, which owns Invesco Perpetual, is rumoured to be the continued target of a takeover by Canadian fund manager CI Financial.
Prudential will not use any of its 1bn war chest to buy stakes in IFA firms but will help to finance them, says UK chief executive Mark Wood. The firm’s trading update for the half-year shows a 50 per cent rise in UK and Europe sales to 541m on an APE basis, including the Phoenix […]
Liverpool Victoria has launched a new whole of life guaranteed life assurance product.Lifetime+ has guaranteed premiums and is available on a single or joint life basis. It also carries guaranteed insurablility options, which include marriage, divorce and inheritance.Level or index-linked options are available and the product confers membership of the mutual on individuals taking it […]
Zurich has recruited Friends Provident head of protection marketing Peter Hamilton with the aim of increasing its IFA market share. Hamilton joins Zurich as protection management director. His role puts him above protection development manager Gerry Warner, who was brought in from Standard Life last year. He is on gardening leave from Friends Provident and […]
Whitechurch Network has teamed up with Pink Home Loans to provide its members with a preferred packager facility. The deal allows Whitechurch members to access Pink’s packaged lender panel including its products and branded range.
Journalist Alexis Xydias interviews Artemis manager William Littlewood about his views on bond, equity and currency markets and the impact of a Greek exit from the EU. With bond yields at “ludicrous” levels, William believes a tipping point for bond markets is sure to come. As a result, his Strategic Assets Fund holds government bond shorts to the tune of 100 per […]
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Scotland has introduced a new set of income tax bands, but pensions experts warn that the changes could cause issues with pension tax relief calculations. In the Scottish Budget today, the Government announced a new starter rate of 19p and then a 21p rate for those earning over £24,000. The higher rate of tax is […]
The scramble to do as many defined benefit transfers as possible while values remain high is unabated, and I am constantly amazed at how some firms have thrown caution to the wind in the hunt for their share of this – admittedly lucrative – opportunity. The problem is that advisers are putting their profits before […]
The FCA working group tasked with setting a template for fund charge disclosure is considering whether one or multiple templates would be more suitable. The institutional disclosure working group, chaired by transparency champion Chris Sier, has been tasked with creating a new template for fund costs and charges following the package of remedies outlined in […]