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 […]
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One of the men behind an illegal collective investment scheme has been sentenced to another year in prison after failing to pay his FCA-ordered compensation. Ross Peters was one of eight men convicted over their role in a land banking scheme. The group ran a Ucis operation through three companies which cold-called potential investors to […]
Aviva has apologised after a website issue left some advisers unable to submit applications on behalf of clients last week. Money Marketing understands online access was disrupted until at least 5:30pm last Friday. It is understood some advisers were unable to submit applications on behalf of clients, for example, life and critical illness cover applications. […]
Retail investors have stuck by Neil Woodford in 2017 despite several multi-managers pulling money from the star fund manager. The Woodford Equity Income fund was the second most popular with Bestinvest retail investors, although Fundsmith Equity was the “clear and decisive winner” when it came to inflows via the investment platform, says managing director Jason […]