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 […]
How can you incorporate alternatives into your clients' portfolio?
Matt Shafer, Head of International Distribution, discusses the firm’s philosophy around Durable Portfolio Construction, particularly the importance of putting risk first, thinking about better ways to use traditional asset classes and how to position alternatives in portfolios.
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FSCS confirms 1,400 clients of collapsed DFM still awaiting refunds
Around 1,400 clients of collapsed discretionary fund manager Beaufort Securities are still waiting for their claims to be processed, Money Marketing understands. The Financial Services Compensation Scheme confirmed it is still working on redress calculations for the cases. Beaufort Securities became the target of both FBI investigations in the USA and FCA sanctions in the UK […]
The Wells Street Journal: Sporting advice and cash awards
A weekly account of the curious goings-on in the world of financial services Financial wing attackWSJ mused over the varying hobbies of financial services professionals a few weeks back and has something new to add to the tally: netball. We have long known Technology & Technical director and adviser Kim North is a fan of […]
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FCA advice supervision chief talks professionalism and value for fees
Debbie Gupta took over as co-director for financial advice and life insurance at the FCA last year. She will be taking a deep dive into where the regulator really stands when it comes to advisers with a presentation at our Money Marketing Interactive conference in April. Before taking to the stage, she discusses why she […]