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Liddell in warning to small firms on review

Treasury economic secretary Helen Liddell has turned her wrath on smaller IFAs which fail to progress sufficiently with the pension review.

Speaking in the House of Commons last week, Liddell criticised IFAs over their conduct of the review and warned that they must step up their efforts.

So far, Liddell has concentrated on naming and shaming big IFA firms, networks and life offices. But her latest comments mark an escalation in her efforts to push the review to completion.

She said: "All firms must get on with the job before the pensions industry can put this affair behind it. This includes IFAs, whose progress still leaves much to be desired.

"They should note that last month, Cox Hepburn Financial Services was fined £15,000 by the PIA for its failure to satisfactorily undertake its review. Small firms will not escape sanction when they fail to act."

The IFA Association is to send its 2,500 members a booklet highlighting prob lem areas in completing the review.

The IFAA particularly wants members to be sure they have correctly identified all their cases for review.


Midshires consults over rival takeover bids

Birmingham Midshires Building Society is seeking permission from Royal Bank of Scotland to enter into talks with rival bidder Halifax over a possible acquisition. Midshires is also seeking advice from its banking and legal advisers about how to go ahead with its conversion, faced with the two rival bids. It is understood that the Building […]

IFA Care launches major LTC push

The IFA lobbying and education group IFA Care is to launch a major long-term care campaign as the Royal Commission on LTC investigates the market. The 80-member organisation is seeking a higher profile, with the aim of becoming a professional body for IFAs specialising in LTC. It intends to offer more education services and step […]

Portfolio&#39s claim sparks row with networks

IFA Portfolio is claiming that its members are writing more business than the top 11 networks combined, provoking a furious response from the networks. An internal Portfolio document, obtained by Money Marketing, estimates that its 2,460 member firms took a total of £463.7m in commission in 1997. This compares with an estimated £438.6m in commission […]

&#39McOik&#39 makes its debut from Templeton

A new investment product dubbed “the McOik” is being launched on April 16. The first open-ended investment company North of the border has been given the nickname by its creator Templeton Investment Management in Edinburgh. It will be officially named Templeton Funds and absorb three existing unit trusts – Templeton global growth, Templeton value and […]

Is this the endgame for the current mergers & acquisitions boom?

Last year, worldwide mergers and acquisitions (M&A) rose to an unprecedented $4.7tn, according to Thomson Reuters, a 41 per cent increase over 2014. Anthony Forcione, senior equity analyst at Loomis Sayles, an affiliate of Natixis Global Asset Management, looks at what’s been driving this particular wave of mergers. Click here to view full article: Loomis-Sayles


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