The financial services’ rock hall of fame rolls out further with the news that Scottish Widows’ Robert Wyllie and his band were on the same record label as navel-gazing nihilists Joy Division.Diary hears Rob was drummer in “influential” new wave outfit The Thursdays, garnering a supporting spot on a tour with Level 42, playing to 2,000 seaters. Rob tells us his group shared its manager with Human League, although The Thursday’s didn’t quite achieve the same success. Perhaps the band should have followed the advice of legend Gino Washington (subject of the Dexy’s classic) who told our market dir-ector, corporate pensions that they should change their name to “Scotland”, dress in tartan and tour the US. “We didn’t want to be the Bay City Rollers,” says Wyllie. Absolutely.
The FSA’s mandatory elect-ronic reporting system has been beset with problems, with IFAs reporting difficulties logging on to the website. The regulator has described the issue as “teething problems” but expects IFAs to meet reporting deadlines, the first of which is August 11 for firms with a year-end after June 30. Spokesman Robin Gordon Walker […]
Guaranteed Investment Bond
Sipp investors will pump 8.5bn into the residential property market from next April, boosting demand in the housing market by almost 5 per cent. Research by Hargreaves Lansdown indicates that a further 1.5bn will be used to buy overseas property.
Seven out of 10 parents are opting for a cash-based child trust fund account, says the Building Societies Association. Of the 50,000 CTF accounts that were opened during June, 31,000 were cash as opposed to the stakeholder option. Of the 270,000 CTF accounts that have been opened to date, over 70 per cent of these […]
By Steve Webb, director of policy In my recent discussions with advisers, a hot topic has been the growing number of people interested in transferring their defined benefit pension rights into a defined contribution pension scheme. With many pension schemes offering eye-watering transfer values, this is likely to be an area of increasing interest. Yet […]
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
HM Revenue & Customs has published guidance on how new income tax bands in Scotland will affect pension schemes and their members. The note is a response to the Scottish Government’s confirmation it will introduce five income tax bands for 2018/19. Pension savers in Scotland currently receive pension tax relief at their marginal rate but […]
SimplyBiz Group is considering an initial public offering of £150m on the London Stock Exchange. According to a Reuters report, the potential float could value the company between £140m and £155m and is expected to raise £30m of new money. SimplyBiz joint group chief executive Matt Timmins confirms the business has recently appointed Zeus Capital as […]
Brewin Dolphin has been ranked the preferred DFM in a Money Marketing survey of advisers and paraplanners, well ahead of the next most favoured, Quilter Cheviot. Thirty-three per cent of respondents listed the business as their preferred DFM, followed by 10.2 per cent responding in favour of Quilter Cheviot. LGT Vestra, Brooks Macdonald and Parmenion […]