Controversial payday lender Wonga has reported a pre-tax loss of £37.3m for 2014 after taking a £35m customer remediation hit following an intervention by the FCA. The firm’s full-year results for the 12 months to 31 December 2014, published today, reveal revenues plummeted 31 per cent year-on-year, from £314.7m to £217.2m, driven by a “significant […]
Lenders are in talks with technology providers to develop a solution where they can evaluate brokers on an individual basis. Presently, lenders have information at a firm level but sources say a group of lenders has started talks to find a way of validating individual brokers. It is thought the lenders, the identities of which are […]
Professional indemnity insurance brokers have raised concerns about the financial strength of new PI insurer, Elite Hoyl Underwriting Management, which offers cover underwritten by Elite Insurance, entered the financial adviser market last month with claims it can halt the trend of escalating premiums. But PI brokers say advisers need to be aware that Elite Insurance […]
Advisers and planners do not need to be reminded to fulfil CPD requirements if they wish to retain their Statement of Professional Standing. Making sure an effective training and competence plan is in place is a key part of successful business practice. But what about paraplanners? How many firms include paraplanners and support staff in […]
Kunal Desai, Head of Indian Equities While summing up India’s performance through April, one of Warren Buffett’s adages springs to mind. “When hamburgers go down in price, we sing the ‘Hallelujah Chorus’ in the Buffett household. When hamburgers go up in price, we weep. For most people, it’s the same with everything in life they […]
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