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Nic Cicutti: Mortgage lending rules do not reflect reality

Advisers will often tell the key moments of contact between themselves and potential clients tend to be at the point of life-changing events – retirement planning perhaps, marriage, the birth of a child, or buying one’s first home. For many financial writers these are events we most often experience vicariously, through the prism of our […]

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Traders ‘competed to win the Libor cup’

The High Court has heard how bankers from Lloyds Banking Group and Royal Bank of Scotland competed against each other to earn the title “Libor legend”. The Sunday Times reports the claims have been made as part of a court case against RBS by the developer Property Alliance Group, which is claiming it was missold […]

FCA fines Towergate £2.6m for mishandling client cash

The FCA has fined Towergate Underwriting Group £2.6m for mishandling client and insurer money. The regulator says Towergate built up a shortfall of £12.6m in bank accounts meant to pay clients and insurers between June 2005 and December 2013. Towergate’s “systems and controls weaknesses” meant this shortfall went undetected for years, according to the FCA. […]

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Apfa urges Govt to delay secondary annuity market

Apfa is calling on the Treasury and FCA to pause plans to launch the secondary annuity market. The adviser trade body says the “vast majority” of financial advisers do not have appetite to work in the market and urges the Government to call a halt while there is “upheaval and uncertainty in the financial markets”. […]

DB transfers – one more factor to consider

Jim Grant – Senior Product Insight & Technical Support Analyst We look at how higher DB transfer values could cause a lifetime allowance issue and how that affects the advice process. Advisers are receiving an increasing number of requests from clients looking to transfer their pension from final salary schemes to personal pensions. This is a […]

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