IFA brands RJ Temple and Berkeley Wodehouse will disappear this week as Lighthouse implements its group rebrand.The new names will be Lighthouse Xpress – the appointed representative network which has 350 registered individuals, Lighthouse Temple – the national IFA with 150 RIs and Lighthouse Corporate – its partnership arm. The group is launching a new IFA – Lighthouse Wealth – based at the City of London branch which will specialise in high-net-worth clients. All four arms of the group now carry the Lighthouse brand name, giving it a stronger presence in the industry, says chief executive Malcolm Streatfield. In 2002, Berkeley Wodehouse Associates saw a large number of the defunct Can- ada Life salesforce joining its team. RJ Temple was forced to fold in July 2003, owing more than 1.5m to its creditors. The firm’s advisers were sold on to Lighthouse but its liabilities were passed back to the Financial Services Compensation Scheme in what is understood to have been a record burden on the compensation scheme. Lighthouse bought collapsed IFA RJ Temple in 2003, acquiring 150 advisers and its client base of around 250,000, trading as appointed reps of the BWA network. Streatfield says: “All four subsidiary brands will now lead with the Lighthouse name. This should give us much stronger brand recog-nition in the market. We gave members six months notice to wind down their stationery supplies and so on. It will now be business as usual.”
Tory backbencher Gregory Barker has tabled three written questions to Parliament about the the FSA, asking about future plans for reform, staff expenditure and malpractice. Treasury economic secretary Ivan Lewis said that apart from the complaint received by the Parliamentary Ombudsman alleging maladministration in respect of the prudential regulation of Equitable Life, there have been […]
Ethical investors are burying their heads in the sand when it comes to investing in oil and China, says Ecclesiastical Insurance Group. Manager of the firm’s 50m ethically screened Amity fund Sue Round says it will take a decision on whether to inv- est in oil by the first quarter of 2006 and the firm […]
Structured product provider Dawnay Day Quantum has introduced two capital-protected bonds that are linked to a basket of eight industrial metals and energy-related commodities.
Furness Building Society is moving into the non-conforming mortgage market with a distribution agreement with Mortgages plc. Furness will market the entire Mortgages plc product range to intermediaries using jointly branded marketing and promotional material.
Jim Grant – Senior Product Insight & Technical Support Analyst There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA. The money purchase annual allowance (MPAA) is a reduced annual allowance that can apply to contributions to defined contribution (DC) schemes. The following table […]
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A High Court judge says the FCA can submit evidence in a case that could shape how Sipp misselling claims are handled in the future. In the case, which started today, lorry driver Russell Adams alleges Carey Pensions missold him a self-invested personal pension. Carey Pensions is accused of using unregulated introducers to invest Adams’s […]
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The following sorry verse embodies procrastination on a whole new level: “Hello there, my name’s Phil; I rap like a small bear writing a will [diligently]; Estate-planning, ninja-whooping IHT; Shame I’m not as bizzie [urban affectation] with the RLP.” These words were penned in response to my father’s short verse sent to me, after the […]