Nationwide Building Society got more positive media coverage in July than any other pro-vider, knocking Halifax off the top spot in the latest Presswatch analysis of the financial services sector.Industry pundits and journalists praised the society for its standard variable-rate mortgage which was deemed one of the best in the industry. Nationwide also got positive coverage for its credit card which does not incur charges when used abroad. Halifax won praise for its remortgage deals but a decrease in the level of attention paid to its popular children’s regular saver account contributed to the bank’s fall from the top spot. But Halifax also got the most negative mentions, largely due to cuts to a number of its savings products. Halifax was followed by Barclays which, along with Lloyds TSB, NatWest and HSBC, got negative press foll- owing the Office of Fair Tra- ding’s announcement that fees on credit cards are excessive. One issue which attracted particular attention in the press is contracting back into the state second pension, with insurers which provide customers with information on the subject, such as Norwich Union, HSBC, Axa and Standard Life, all winning praise. Lowes Financial Management managing director Ian Lowes says: ” Bad press does not make any difference to us. Every company will get good and bad press and it is our job to choose the best product for the client.”
The contracting-out rebate should be substantially increased and the state second pension should become a flat-rate system if contracting out is to be a success, says the Association of British Insurers. It says the Government Actuary’s Department will soon review rebate levels and believes a big increase is required to restore its original position and […]
Innocence is bliss, or so we are told. A Greek friend of mine, who believes that life is more straightforward than it really is reacted to his divorced friends plight by taking direct action with no regard for the reality of the situation. This is similar to many who will invest in Sipps for the first time as soon as midnight strikes on April 5 next year.
The surge in property prices over the last eight years has seen housing leap ahead of pensions, insurance and equities as a proportion of household savings. A report from the Office for National Statistics shows the value of residential property held by households soared from 1,200bn to 3,200bn between December 1996 and December 2004. Housing […]
A Department of Trade and Industry decision to exempt general insurance and mortgage advisers from having to file a statutory audit should be extended to include the majority of advisers, according to a compliance expert. The DTI says amendments to the Companies Act 1985 mean that from October, general insurance and mortgage advisers will only […]
New research has proven the positive impact that protection, health and wellbeing (PH&W) benefits have upon a business.
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]