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L&G doubles Isa market share

Legal & General doubled its share of the Isa market in the first quarter of the year after sales rocketed to £168.2m from £115.5m in the same period in 2001.

The boost meant that L&G&#39s market share shot up by more than 110 per cent – of the sales of Investment Management Association members – to 7.8 per cent from 3.7.

L&G attributes the rise to its “value for money” proposition and new distribution capabilities.


Virgin on track for new pension sales

Virgin Money is targeting its products at travellers on Virgin Trains through a dedicated team of advisers.The staff will be employed by Virgin Money rather than Virgin Trains and will initially sell credit cards at the sitting targets, with a view to extending to the company&#39s full range of products, including pensions and investments. Virgin […]

Advisers angry as L&G Bank takes its pick

IFAs are accusing Legal & General of cherrypicking business by only giving a limited number of intermediaries access to its equity-release product which was launched last month.L&G Bank has spurned the majority of IFAs by refusing to take applications from advisers it claims do not have adequate expertise in the market.But the company is denying […]

Farnish quits FSA to be NAPF chief

FSA consumer division director Christine Farnish is quitting the regulator to become chief executive of the National Association of Pension Funds.Farnish has been at the FSA since 1998, during which time she has spearheaded the increasingly higher-profile role of the regulator&#39s consumer division.Her legacy at the FSA will be the introduction of comparative information tables, […]

Way to bridge the savings gap

I attended a seminar recently, during which we were informed that the thrust of the Government policies for fin-ancial services is to “close the savings gap”, currently running at around £27bn each year.For this reason we were told, Sandler, CP121, Myners, Pickering and the Inland Revenue pension simplification review are being undertaken. This is, of […]

FAMR – a familiar response

Pension specialist Fiona Tait takes a look at the Financial Advice Market Review and assesses the three areas where it suggests improvements can be made With significant budget changes ruled out (for a while anyway), the pension community briefly turned its attention to the FCA’s final report on its Financial Advice Market Review (FAMR), hoping […]


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