View more on these topics

Misys to set up consumer site

Misys is launching a personal finance website for consumers offering a range of investment and insurance products.

The move comes as rival IFA portal Moneyextra, owner of The Exchange, sells its ailing consumer site to concentrate on business to business.

Consumers will be able to buy online at theformula site which will initially offer general insurance. More products, such as investments and life insurance, will be added. Misys aims for one million sales in its first three years and reckons on providing two million individual quotes a month.

It says it is investing £30m in 2000/01 to expand its e-commerce trading activities.

Paul Finch, of PG Finch & Co, says: “I am not too worried about these types of developments. They will only get execution-only business. This will only affect advisers not changing with the times and adding value to their business. Good IFAs will retain their business.”

Misys Interactive Trading managing director Jasper McMahon says: “We aim to provide a service that recognises the importance of giving consumers information as well as choice.”


Principality cuts discount rate

Principality Building Society has introduced the 1.2 per cent discount mortgage. Aimed at first time buyers and people who are looking to remortgage, the mortgage has a discount of 1.2 per cent from the society’s standard variable rate, giving it a payable rate of 6.29 per cent for the first five years of the loan. […]

UK pension funds down again

The value ofUK pension funds has fallen for the third consecutive quarter of 2000, according to Edinburgh based performance measurements consultants The WM Company. Overall returns were down 0.4 per cent compared with 0.6 per cent for the first two quarters. The WM Company executive director Peter Warrington says “Returns overall have been disappointing for […]

Providers vie for slice of the IFA pie

It seems all roads are leading to independent advice. At a time when independent advice is being thrown into uncertainty by the Trea sury and FSA&#39s decision to relax polarisation rules and introduce multi-ties on Cat-standard Isas and stakeholder pensions, companies are queu ing up to get a piece of the IFA action. Financial service […]

Luck of the drawdown

Pension City, UK, the gambling capital of the world, has a new game. The punter pays a stake of, say, £100,000. At each turn, a card from a normal deck is turned over and the pot is increased by £1,000 times the value of the card (an ace counts as one and the jack, queen […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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