Norwich & Peterborough says it is still waiting for the High Court's judgement on the judicial review it is seeking against the Financial Ombudsman's ruling on its Tessa pricing. It had hoped for a decision last week but the High Court reserved its judgement indefinitely without providing a reason. The complaint against N&P concerns a customer unhappy about mini cash Isa holders being paid more interest than he was receiving on his Tessa select account. N&P says it will pay compensation totalling £1.3m if the judgement goes against it.
Deutsche Asset Management, which is rebranding as DWS Investments, has introduced the DWS European opportunities fund.The fund, along with the recently created DWS UK opportunities fund, is a higher-risk, addition to the Oeics in the companys existing range. It aims for capital growth by investing in a concentrated portfolio of 25 European stocks, excluding the […]
Clerical Medical is set to make a return to the group stakeholder market on the back of the systems it bought from Equitable Life last year.The company had been forced into a retreat from the market in August last year following a backlog at its admin centre in Bristol. The company said it hoped to […]
Monday, September 23, 2002Type: SicavAim: Growth by investing in global equitiesMinimum investment: Lump sum £3,000Place of registration: LuxemburgInvestment split: 100% in global equitiesIsa link: YesCharges: Initial up to 5%, annual 1.5%Commission: Initial 3.5%, renewal 0.5%Tel: 0800 305306
Ratings agency Standard & Poor's is entering the multi-manager market through an exclusive agreement with Schroders to offer IFAs and financial institutions a global funds of funds service.In a major departure from its core business, S&P is reass-essing funds that it has already rated to create a panel of recommended products for which Schroders will […]
The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath.
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As someone training to be a cricket umpire, fair play matters to Fortitude Financial Planning director Chris Bowmer. Doing the right thing for clients is something he has adhered to from the start of his career, even in a 1980s sales environment with nothing to gain by delving beyond a client’s surface requirements. While he acknowledges […]
Fund managers who have helped pay compensation over the collapse of life settlement bond provider Keydata will receive a £12m refund, the Financial Services Compensation Scheme has announced. Keydata’s management has been embroiled in a multi-million-pound legal battle with the FCA since it collapsed in 2009. The total bill for compensation stands at more than […]
With no employer to fall back on, the self-employed are on their own when it comes to retirement saving. Irregular income patterns can make it harder to save regularly into a pension and commit to locking money away until age 55. Those who are building a business may see that as their biggest asset and […]