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Ingledew lambasts wrap deals

Berkeley Berry Birch group chief executive Stephen Ingledew said at Money Marketing Live that none of the wrap products presently available in the UK is a true wrap product.

He said the wave of wraps stems from the success of such products in the US and Australia but he said so far no one has come up with anything like these products.

Ingledew believes it will be some time before a true wrap arrives in the UK.

Ingledew criticised providers and the Government for putting a stranglehold on IFAs by developing unusable products.

He said: “Look at what the Government has invented – stakeholder pensions, the Sandler suite, and now 30-year mortgages. How can it or providers criticise us for not delivering when it can&#39t deliver itself?”


Lib Dem MEP calls for an end to &#39irresponsible lending&#39

Opening the Liberal Democrats party conference today in Brighton MEP Diana Wallis leader of the UK Liberal Democrats in the European parliament called for an end to Labour and Conservative “blocking” of European legislation like the Consumer Credit Directive “that would get to grips with irresponsible lending”.

Coffey takes on role as RLAM head of equities

Royal London Asset Management has appointed Jane Coffey as head of equities, a new position created to support Andrew Carter, who takes over as chief executive this week.Coffey, who joined RLAM to manage UK equity port-folios in March 2002, will take charge of the UK desk and also help Carter, who was promoted from chief […]

Ross ousted at Widows

Scottish Widows chief executive Mike Ross has been ousted in a shake-up which sees Lloyds TSB man Archie Kane take his place.The news comes the same week the FSA is expected to hit Lloyds with a hefty fine for misselling structured products.Ross leaves Widows after nearly 40 years, having led it to become one of […]

Public don&#39t know the true costs of private operations

Legal & General says more than two-thirds of people intend to pay for private healthcare directly rather than through an insurance policy but underestimate how much it will cost.Consumer research from L&G shows that 70 per cent of people intend to pay for private healthcare on demand rather than through a PMI policy.But the survey […]


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