The Mortgage Power a nationwide network of mortgage brokers has opened its new offices in Middlesex. TMP provides packages for the Money Store, Capital Home Loans and Irish Permanent.
Barclays Global Investors is launching a traded endowment policy investment trust which is aiming to raise £30m.BGIEF III will buy Teps that will mature between 2009 and 2013. The mid February launch will comprise a placing and offer for subscription which will close in early March.Minimum investment is £2,000. IFA commission is 2 per cent.
The Department of Social Security has announced that the compensation bill for delays to occupational and personal pensions providers caused by computer system NIRS II will reach between £35m and £40m.The Government issued the figures in response to a question from Liberal Democrat Social Security spokesman David Rendel MP.Rendel condemns the additional costs.He says: "The […]
Scottish Amicable's 1998 new business figures are up 24 per cent on the previous year.Total new business was £163.5m up from £132.2m.Pension sales are up 16 per cent to £65.1m and savings and protection products up 29 per cent to £10.7m.Scottish Amicable sales & marketing director John Cowan says: "These excellent new business figures reinforce […]
Axa Sun Life's decision to withdraw from the life and pensions market due to what it saw as unsustainable price competition is responsible for the 1998 profits dip, according to analysts.Insurance analyst Ned Cazalet says: "Sun Life withdrew as it felt the pricing had gone mad due to the pressure of competition, especially in pensions. […]
Protection providers often extol the benefits of placing plans in trust. The advantages for clients are widely recognised and numerous – inheritance tax mitigation, avoiding probate delay, controlling claim proceeds, and so the long, familiar list continues. Yet, dismissed as unnecessary form-filling, or simply viewed as irrelevant in the context of a mortgage sale, less […]
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
Pimco has followed in the footsteps of its US rivals Vanguard and JP Morgan Asset Management to announce it will absorb research costs under Mifid II. The California-headquartered bond manager would not comment on the hit to revenues, Financial News reports. JPMAM confirmed last week it would absorb the costs when the European regulation comes into place at the […]
What does “restricted” advice really mean nowadays? Some see this as a question of semantics, others one of outcomes. Either way, the debate was reignited again a few weeks ago by consumer group Which? and its probe into St James’s Place. In a mystery shopping exercise, it found three of the 12 advisers visited did not […]
Murray has emphasised his commitment to the business