This week's No S*!@ Sherlock award goes to Intelligent Finance.
The company “released figures” showing that, all things being equal
such as £6,219 in savings in an offset mortgage account, people
in Scotland, where the average house price is £71,799, will pay
off their mortgages on average 39 months early compared with people
in Greater London paying an average £214,296, who finish 15
months earlier.
IF chief executive Gren-ville Turner tells us: “These new figures
throw an interesting crosslight on the housing market.”
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Seaside
You might imagine that as the Perfect Storm of Q1 2003 continues to rip through the investment industry with devastating force, few players would put on their waterproofs and go out into the sodden landscape with Isa consumer campaigns.You would be right up to a point. Quite a few players are conspicuous by their absence. […]
Independent view
Transfers. Opt-outs. Non-joiners. Three simple words that have causedimmeasurable pain for so many advisers and clients alike – and thepain is still present for all to see.Industry commentators exclaim left, right and centre about theinjustices of the new review culture after the “father of reviews”but nothing ever sticks. Nothing is ever followed through and none […]
£750k fine for BoS fund admin failure
Bank of Scotland has been hit with a fine of £750,000 by the FSAfor failures in administering its Pep and Isa funds between November1999 and August 2001.According to the FSA, BoS put 30,000 Pep and Isa fund customers atrisk of losing money and increased its own exposure to potentialfraud.The regulator says the bank's systems used […]
'FSA failed to protect consumers'
The FSA is criticised by the select committee for failing to protectconsumers.The committee's report says if investment trusts had been regulated,it would have been easier for the FSA to identify potential problems.It says if the FSA's investigations into the crisis are is hamperedbecause investment trusts are not regulated, then the Treasury shouldlook into the matter.The […]
Three reasons why the Indian bull market can continue
Indian equities have officially re-entered a bull market, with the benchmark index climbing to a 11-month high. But this is just the start, argues Neptune head of Indian Equities Kunal Desai. Read more: Important information Investment risks Neptune funds may have a high historic volatility rating and past performance is not a guide for future […]
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Amber Rudd to return as work and pensions secretary
Former home secretary Amber Rudd is set to return to the cabinet as work and pensions secretary, according to reports. The appointment follows the departure of Esther McVey yesterday over her refusal to back the government’s draft Brexit deal. According to reports, Rudd, a remainer, was offered the job after environment secretary Michael Gove spent […]
FCA writes to pension transfer introducer clients over legal action
The FCA has written to all former clients of Avacade Limited, an unregulated pension introducer, to inform them about its legal action against the firm and its directors. In November 2017 the FCA said it would start civil proceedings against Avacade Limited, now in liquidation, and its three directors Craig Lummis, Lee Lummis and Raymond […]
Fears protection commission disclosure will turn clients off advisers
As new disclosure rules bring the full extent of protection commissions into the spotlight, experts are asking if this will see clients ditch their advisers in favour of execution-only services. Under the Insurance Distribution Directive, from 1 October advisers have had to provide clients with information before a product sale about any commission received, which […]
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