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NPI hopes to profit from star rating

NPI says it expects to gain access to national IFAs&#39 pension panels after its with-profits fund was awarded a four-star rating by independent actuaries AKG.

The fund previously carried a three-star rating for its future performance potential from the independent actuarial and financial services consultancy. This meant it was not eligible for inclusion on the with-profits panels of many national IFAs.

NPI says the announcement is further endorsement of its restructuring following its takeover by Australian giant AMP. The move brought NPI under the international AMP Group which has assets under management of over £105bn.

The rating has been awarded to NPI on the basis of its approach to bonuses and expenses.

Director of national accounts and corporate pensions David Tildesley says: “AKG judges investment providers on a number of criteria including past performance and investment and bonus philosophy. In 1999, NPI was awarded four stars for financial strength when it became part of AMP group. NPI also holds a Standard and Poor&#39s AA rating for financial strength.”


Northern Rock posts 11 per cent profit gain

Northern Rock has posted an 11.5 per cent jump in post tax profits according to its latest interim results. The results show a revival in the mortgage bank’s strength following disappointing figures last year.It enjoyed post tax profits of £84.5m compared to 75.8 last year. Total gross lending leapt to £3,128m compared with £1,889m the […]

Electronic signatures become legal

Electronic signatures are officially legal as of Tuesday as the Electronic Communications Act came into force this week. The move is seen as a milestone by mortgage providers that has been prevented from fully embracing e-commerce because the signatures were not allowed. On-line applications for loans and other investment products can now be authorised using […]

FSA is seeking third MD to focus on IFAs

The FSA intends to give retail regulation and consumer education more clout by creat-ing a third managing director position below chairmanHoward Davies.The new post will carry direct responsibility for the IFA market.The move comes as Davies reveals the PIA board will step down later this month aspart of the move towards toa single regulator.Speaking at […]

Independence day for investors in the US

As the technology revolution changes UK financial services, the American experience may help IFAs in predicting the future. The US is at least five years ahead of the UK investment scene and history suggests we have more than a tendency to follow US trends.The American public are more financially aware than ever and streets ahead […]


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