View more on these topics

Misys and DBS action group over CP121

Misys and DBS have set up an action group of top directors to co-ordinate their response to CP121.

Misys is also commissioning an independent research organisation to canvass members across the stable of networks.

The group comprises DBS chief executive Nick Ansell, Misys IFA services sales and marketing director Andrew Bedford, Mifas programme director Ian Costain, DBS sales and marketing director Mark Summerfield and Misys Assuresoft business development director William Watling.

Misys insists that its business model holds good under CP121. The group has issued the first in a series of fortnightly bulletins explaining the content and implications of CP121 and will be setting up a website for members and non-members to comment on the consultation.

Dataquest Research is carrying out phone interviews with around 600 members from across the networks until February 28.

The first bulletin states: “One thing that is completely clear is that, subject to dropping the term independent, our existing business model could continue virtually unchanged as what the paper calls a distributor. While we must not diminish the significance of the independent issue, we should at least be reassured that our business model will be safe.”

DBS chief executive Nick Ansell says: “We are very keen for members to participate in the consultation process.”

Recommended

Another MVA by Equitable

Equitable Life has slapped a market value adjuster on yet another set of policyholders who have so far managed to escape the 10 per cent penalty on early transfers.Retirement annuity pension policyholders over 50 wanting to take benefits before their contractual retirement age of 60 had been allowed to transfer in to a personal pension […]

Investment update

Aberdeen Asset Management has ext-ended the 1 per cent discount on all new Isa business into its corporate bond funds until the end of the tax year. The discount, which applies to the Aberdeen fixed-interest and sterling bond funds, cuts the initial charge to 3.25 per cent. Aberdeen&#39s high-yield bond fund is also now included […]

Britannia International – International Blue Chip Bond

Tuesday, February 19, 2002Type: Guaranteed offshore high interest accountAim: Growth linked to 12 blue chip company stocksMinimum investment: Lump sum £10,000, £5,000 for existingBritanniacustomersPlace of registration: Isle of ManInvestment split: 100% linked to 12 blue chip company stocksGuarantee: Capital returned in full at end of term regardless ofperformance of underlying investmentsYield: Up to 65% gross […]

NFU Mutual appoints new managing director

NFU Mutual has appointed Ian Geden as managing director. Geden – who is a director of Mutuo, an organisation which campaigns for a better understanding of the benefits of mutuality – steps up from general manager, a position he has held for 3 years. He succeeds Andrew Young, who has retired after 37 years with […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment