Norwich Union is reducing interest rates on its fixed-rate lifetime mortgage plans sold through intermediaries from 6.35 per cent to 6.3 per cent or 6.6 APR. All pipeline cases offered on or after December 18 will be subject to the new rates.
I have been reflecting on my letter in your November 30 edition and Nic Cicutti’s thought-provoking piece in your December 7 edition. It strikes me that there is plenty of scope for financial advisers to receive payments that are disproportionate to the amount of work they do for their clients by way of fund-based renewal […]
Chelverton Asset Management
ACDS Chelverton UK Equity Income Fund
Record lending is likely to be the major talking point of a year that has seen the emergence of a multitude of new lenders, the birth of retention strategies and worries from the FSA over quality of advice.The Council of Mortgage Lenders expects gross lending to hit £345bn, up from £288bn last year. Many attribute […]
John Lappin looks at another year of trial and tribulation for advisers, saying that the model is intact and that failures can be put down to individual enterprises. He looks at ways that the sector can protect itself against further knocks.
Welcome to the latest update for The Merchants Trust PLC from the Trust’s portfolio manager, Simon Gergel. Portfolio Review In February, the House of Commons passed a draft law to trigger article 50 of the Lisbon treaty for the UK to exit the EU. In corporate news, Warren Buffett backed Kraft Heinz in its takeover […]
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The Financial Ombudsman Service has told Kingswood Financial Advisors to compensate a client over a Sipp investment in an unregulated Harlequin property fund. The case concerns Mr B’s complaints about the advice he received regarding two unregulated investments: one into a Harlequin property fund and the other into Green Oil. The ombudsman’s ruling relates to […]
Phoenix Group, Alliance Trust Savings, Zurich, and Old Mutual Wealth are amongst the most complained providers in the latest FCA complaints data. A total of 3.76m complaints were received by the FCA during the second half of 2017, up 13 per cent on the first half of the year. Alliance Trust Savings is the most […]
The FCA is reviewing the market for preference shares following the furore over Aviva’s recent decision to cancel its high-yielding preference shares at par value. FCA chief executive Andrew Bailey says in a Dear CEO letter that the regulator is reviewing the prevailing market for certain fixed income shares, particularly those classed as perpetual, irredeemable […]