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Newcastle Building Society advice arm extends Openwork deal

Newcastle Financial Services Limited, the advice arm of Newcastle Building Society, has announced it will remain with Openwork for at least five more years.

NFSL first joined the network, then called Zurich Advice Network, in 2003. It employs 22 pension and investment advisers and four insurance advisers.

Newcastle Building Society sales and marketing executive Steve Unwin says: “NBS recognises that other high street providers are withdrawing from offering advice to the mass market but we are committed to maintaining a service for our members.

“In our view Openwork has the most compelling and progressive proposition in the market and it is very well placed to support our evolving requirements both now and in the years ahead.

“We were more than happy to extend our relationship with the business for a further five years.”


Two found guilty of defrauding banks to finance £740m property portfolio

Two businessmen have been found guilty of defrauding banks by using forged documents to secure loans to acquire a property portfolio of £740m. Achilleas Kallakis and Alexander Williams were found guilty on two counts of conspiracy to defraud, following a case brought by the Serious Fraud Office. Between 2003 and 2008 Kallakis and Williams conspired […]

Lloyd James Strategic Society Centre MM blog

James Lloyd: The PM’s ‘enormous’ prediction for LTC insurance

Despite media stories circulating of a £75,000 cap, the Government’s mid-term review contained no commitment to implement the Dilnot Commission’s ‘capped cost’ model, although ministerial comments still suggest an announcement is imminent. However for insurers the more interesting statement from the prime minister actually occurred a few days earlier. Speaking on BBC1, David Cameron said […]


FSA bans and fines insurance broker £212,000

The FSA has banned and fined an insurance broker £212,000 for misappropriating money from his business and selling worthless policies to over 6,000 customers. An FSA investigation into motor insurance firm Motorcare Elite director Harbinder Panesar revealed that between August 2008 and December 2010 he misappropriated over £180,000 from Elite and another insurance brokerage he […]


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