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LV= in £1,000 pledge on delayed lump sums

LV= says it is the only provider to pay compensation to consumers who do not receive their tax-free cash within seven working days on its income drawdown plans.

The mutual is guaranteeing that pension lump sums will be paid within seven working days or £1,000 compensation will be paid to pensioners.

This is a fourfold increase on the compensation offered by the Tomorrow business that LV= acquired and relaunched under its own brand in January.

This commitment has been extended to include the LV= discretionary management option and fund supermarket Sipp.

Life and pensions managing director Rodney Cook says: “We understand that service standards count to financial advisers and their clients. When all formal documentation has been received by us, there is no reason why clients cannot have their tax-free cash paid within seven working days. We believe so strongly in service excellence and our administration capabilities that we want to makea statement about that.”


OBSR suspends Franklin Templeton’s A rating

Old Broad Street Research has suspended Franklin Templeton’s A rating on its Europe fund following the departure of manager Andrew MacKirdy.MacKirdy, who also managed the global fund sicav, will be replaced on the European fund by Uwe Zoellner. OBSR research director Richard Romer-Lee says: “Following the news that Andrew MacKirdy has left Franklin Templeton, OBSR […]


Death of Brian Cochrane

Champion of small advisers and former Fimbra board member Brian Cochrane has died aged 64 after a battlewith cancer. He began his career in the RAF but set up as an IFA in Falkirk in 1978. He was one of the creators of the ScottishIFA Association and became head of the Fimbra admiss-ions department in […]

Euro vision

An outstanding European fund manager, Julian Pendock, has founded a new boutique, Senhouse Capital, with Charlie Scott Plummer and Matt Jones.

No more love of the 125% LTV market

As of today, the market for loans up to 125 per cent loan to value is no more. BM Solutions has become the last lender this week to confirm it has pulled out of the market as of yesterday – giving brokers no notice at all.


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