The consumer price index rose to 1.5 per cent in October from 1.1 per cent in September while the retail price index rose to -0.8 per from -1.4 per cent in September, the biggest jump in the RPI in nearly 20 years.
HSBC’s deals provoked the extremes of dual-pricing among intermediary lenders, says First Action Finance head of communications Jonathan Cornell. At the Mortgage Business Expo, Cornell said if HSBC had not been pricing so aggressively, then other lenders perhaps would not have felt the need to follow their lead. He said: “HSBC is probably causing the […]
IFA firms are shifting away from hiring staff on a salary basis, preferring to employ advisers on a commission-based package, according to Recruitment Connection. Managing director Simon Bean estimates there is now an even split between salary and commission jobs. He says this time last year, 75 per cent of the jobs were salaried and […]
The chief executive of Annuity Direct is a crusader for the open market option, saying the present situation is ‘a national scandal’ and he accuses insurers of blocking change. Interview by Lee Jones.
Consumers are unimpressed with price comparison sites according to a survey by Which? Money in which no site scored higher than 50 per cent. Which? Money found that the average customer satisfaction score for the websites is lower than for any other financial sector it has surveyed. Which? members express a lack of trust in […]
In November last year, the FCA announced that from 31 March 2017, early exit pension charges will be capped at 1% for those customers who are eligible to access their retirement savings from age of 55. The rules also state that for new personal pension plans started after that date, or on new increments into […]
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The incoming chair of the FCA, former lawyer Charles Randell, has revealed to MPs he invested in a film partnership scheme that has been at the centre of a battle with HM Revenue & Customs. The news represents a fresh blow to the regulator, which has been facing questions over its refusal to publish a […]
What increase in standard lifetime allowance means for clients with fixed protection Mindy has had income for the last three tax years of around £38,000 from her tailoring alterations business. She plans to sell the business and take her pension benefits to fund her day-to-day living expenses when she reaches her 60th birthday in August. […]
Lloyds Banking Group will boost its financial planning and retirement open book assets by more than £50bn by 2020 and is targeting more than one million new pension customers. The group, which includes pension provider Scottish Widows, unveiled its new three-year strategy this morning. The strategy talks of “maximising the group’s capabilities” by increasing financial […]