Lord McKenzie of Luton has been appointed Parliamentary under-secretary for the Lords at the Department for Work and Pensions. He is currently a spokesman for the Treasury and Government Whip for the DTI.
I was somewhat surprised to learn in last week’s Money Marketing that HM Revenue & Customs is looking to tax gifts to an absolute trust for minors as a chargeable lifetime transfer. This appears to misunderstand what an absolute or bare trust is all about. Trusts are used to create different interests in the same […]
British Insurance is offering a product which pays out a regular income on long-term illness or injury.It has been launched through subsidiary firm Sickpayplus.co.uk and claims to pay monthly benefits backdated to day one if the policyholder is off sick for 30 days or more.It costs 1.35 a month per 100 of monthly benefit for […]
Russia and China funds both returned over 50%.
St James’s Place chief executive Mark Lund has quit in what SJP calls a joint agreement. He joined SJP three years ago and became chief executive in September 2004. He is leaving with an estimated 4m payoff.
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BMO Global Asset Management fund manager Robert Burdett has more than halved the exposure to passive funds in most of the multi-manager funds amid fears of a bubble in the market. Burdett, who co-manages the £1.2bn F&C MM Navigator Distribution fund with Gary Potter, says the team has been cutting exposure to passive funds across […]
Opinion differs as to what has caused the advice gap. Some believe the move from commission to fees has made advice unaffordable for the mass market, with advisers having to focus on wealthier clients for commercial reasons, while others say the trend was happening anyway, regardless of the RDR. For Simplified Money director Lesley James, […]
Sales of protection policies are back at peak levels, with the sector growing by more than 20 per cent in the past year, despite adviser complaints over protection’s lack of popularity. According to the latest figures from Equifax Touchstone, sales of protection policies surpassed £149m between July and September this year — their highest level […]