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New LTC minister announced

The minister with day to day responsibility for Government policy on long term care will be Jacqui Smith. Smith was previously a junior education minister.

She is expected to oversee the implementation of the Government decision to fund nursing care for the Department of Health. But much of the responsibility for how to regulate the financial services industry on long term care remains with the Treasury. The Treasury has already indicated it strongly favours catmarking ltc products in addition to FSA regulation.


PFSM helps to gift a stakeholder

Punter Southall Financial Management (PSFM) is entering the pensions market for the first time with the introduction of the gift a stakeholder pension.The pension can be set up on an individual basis only and is aimed at people who are eligible for a stakeholder pension, although PSFM is also focussing on people who want to […]

Owners review Willis Nat

Abbey National and Willis Group are believed to be reviewing their shareholdings in national IFA Willis National which has around 120 registered individuals in 20 offices. It is understood that Abbey Nat, which owns 49 per cent of Willis National, is considering selling to focus on developing its Inscape wealth management service and subsidiary Cater […]

Mortgage firms aghast as FSA goes ahead with red tape plan

The FSA is set to stun the mortgage industry this week by pressing ahead with proposals which force lenders to monitor the product information given to borrowers. Despite industry warnings that the move could be an admin nightmare which may eventually push brokers out of the mortgage market, the FSA has confirmed that lenders will […]

Northern Rock & L&G team up for balanced match

Northern Rock and Legal & General have joined forces to introduce balance-choices, a combination of a with-profits bond and an instant access savings account.Investors can divide their investment between the two elements within specified limits. They can invest between 50 and 80 per cent in the Legal & General with-profits income bond, which invests in […]


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