View more on these topics

Lincoln picks Deloitte to probe appointed rep

Lincoln Assurance is hiring big five accountancy firm Deloitte & Touche to

investigate the endowment sales of its former appointed representative City

Financial Partners.

Since September 2000, the life office has reviewed a representative sample

of the 31,000 endowment policies that CFP sold over the last 10 years. Of

the 5,000 reviewed, Lincoln says there is significant evidence of

questionable selling practices but would not say how many policies were

actually missold.

The PIA is overseeing the review and is in discussions with Lincoln on the

outcome. It says it will decide if any disciplinary action is necessary

when it is complete.

Lincoln broke up City Financial last October and sold the salesforce of

500 to direct-sales companies Allied Dunbar and St James&#39s Place and IFAs

Inter-Alliance and Lighthouse.

The problems with CFP first came to light last year when the Consumers&#39

Association&#39s magazine Which? ran a story in October detailing the problems.

Lincoln head of communications Ian Crowder says: “Clearly, we take any

potential misselling extremely seriously so we are making sure we can

identify any cases where there may be some doubt and will take appropriate

action. We are using an independent auditor to monitor the process and are

keeping the PIA informed at all times.”

Recommended

Critical issues to address on sales growth

Increased consumer awareness, the recognition of need and industry focushave all contributed to a rise in sales of critical-illness cover,particularly in the mid to late 1990s. Add to this the ABI statement ofbest practice which brings clarity to consumers when comparing products andit is good news all round. However, just as the successful sporting team […]

ABI sets out standards for Omo

The ABI is issuing a statement of good practice recommending minimumstandards for pension providers dealing with policyholders about to retire. The move aims to pre-empt the FSA&#39s planned new rules for providers whichare set to force them to clearly highlight the open market option, wellahead of policyholders making their final decision on buying an annuity. […]

HSBC Bank International – Nasdaq Plus Growth Fund

Type: Ucits. Aim: Growth linked to the Nasdaq 100 index. Minimum investment: £5,000 or $5,000. Place of registration: Dublin. Investment split: 100 per cent linked to the Nasdaq 100 index. Isa link: No. Charges: None. Commission: Initial 2.5 – 4.5 per cent. Tel: 01534 606348. Broker Panel:-Chamberlein Eke, Senior partner, Anthony ChambersMichael Posner, Principal, Charter […]

£50K fine for firm for review failings

The PIA has slapped a £50,000 fine on IFA City Assurance Consultantsof Wimbledon Hill Road, London for pension review failings. The firm, whichhas also been officially reprimanded and ordered to pay PIA costs of£4,000, is guilty of a number of failings identified in regulatoryvisits between January and August 2000.

Recording sickness absence cover - thumbnail

White paper — recording sickness absence

The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com