What is good news it that the FSA is reconsidering where the balance of responsibility lies between provider and broker when plans go awry. It is also insisting on stress-testing and suggesting that, in the worst cases, plans be withdrawn.No one expects a mea culpa from the FSA but this may be the next best thing.
Landlord Mortgages annual BTL review reveals property investors are deserting London due to high property prices.Only 8.56 per cent of all rental properties purchased over the last year were in London, 5 per cent down from August 2003-04.This is a low percentage considering that the ODPM estimated in 2003 that 15 per cent of England’s […]
New Star head of fund of funds Mark Harris is to launch a global cautious portfolio in October in response to growing demand.The fund will be Harris’ first fund of funds launch since 2000 and will invest 40 per cent in fixed interest for income and to reduce volatility. Harris describes the fund’s property and […]
I was pleased to see that my letter, Trusts are the perfect solution, generated such interesting debate on the Money Marketing Letters to the Editor page. A Letter to the Editor obviously cannot cover the many intricate complexities of inheritance tax planning. However, I felt that it was worth responding to the letters from Julian […]
The FSA must clamp down on small mortgage advisers which continue to flout rules and regulations or lose the industry’s belief in its enforcement abilities, mortgage experts have warned. Society of Mortgage Professionals director Richard Fox said he has seen evidence that suggests the FSA is not pulling its weight in this area. Savills Private […]
Johnson Fleming has launched its new managed auto-enrolment service, designed to support SME businesses of up to 250 employees. The managed auto-enrolment service is not just about providing businesses with a software system for them to manage themselves, but more about outsourcing the administration of the project and scheme to Johnson Fleming’s auto-enrolment staff.
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The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]