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L&G prioritises direct sales

Legal & General is has prompted IFA concern as it bids to help investors beat the tax year deadline by buying Isas direct on the internet.

The life office says its been forced to prioritise its website for investors because its plans to use IFAs to sell Isas online are still at consultation stage.

In a bid to boost sales the site waives the first year&#39s annual management fee of between 0.5 and 1.5%, depending on the fund, for sales before the end of April and has no opening charge.

The website will allow applications for online ISAs included in this year&#39s tax allowance to be made up until midnight on April 5.


Pension savers warned to act fast

Millions of pension savers need to act fast as basic tax rate falls to 23 per cent to 22 percent on April 6, cutting base rate tax relief by the same amount.Those making lump sum contributions will save a pound in every hundred if they do so before April 5.Legal & General spokesman Andy Agar […]

“Keep annuities simple” urges specialist

Pensions specialist Punter Southall is appealing to the Government to keep to new annuity rules simple in response to the DSS consultation paper on annuities.In the paper the Government proposes relaxing the rules for money purchase occupational schemes allowing their members to take advantage of investment linked and with-profit annuities.But the consulting actuary warn that […]

Small company stakeholder exclusion good news for advisers

The Government has created an enormous business opportunity for IFAs by excluding smaller firms with less than five employees from stakeholder pensions according to Scottish Equitable.This is because new Government rules on stakeholder exempt employers with under five staff from providing stakeholder.The life office says these firms make up nearly two-thirds of UK employers and […]

FSA publishes paper on purpose of regulatory capital

The FSA has published a paper examining the purpose of regulatory capital and the impact of its requirements on firms.The paper written by FSA Central Policy Division&#39s Jeremy Richardson and Complex Groups Division&#39s Michael Stephenson discusses how financial firms could be placed in categories by their capital requirements.“Some Aspects of Regulatory Capital” discusses how the […]


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