Norwich Union is to offer IFAs 5 per cent flat initial commission for all single-premium investments in four funds. NU will offer the commission for investments in the Norwich active protector fund, Norwich UK ethical fund, Norwich distribution fund, and Norwich managed high-income fund. The offer will apply to Oeic, Isa and Isa transfer business from February 28 to July 1.
ABI proposals for indemnity commission to be scrappedhave been attacked by Aifa as being a knee-jerk reaction to the Treasury select committee’s criticism of commission. Research carried out for the ABI by Charles River Associates calls for the abolition of indemnity commission, production of annual commission statements for consumers and an equalisation of commission levels […]
Chelsea Building Society
Self-Cert Two Year Discount Mortgage
Gross mortgage lending fell in January to 17.9bn, says the Council of Mortgage Lenders in its latest survey.
The Personal Finance Society says its generic advice pilot scheme is working and has blamed difficulties on the Citizen’s Advice Bureaux. Director of public affairs John Ellis says the PFS has thrown its weight behind the scheme but stands by claims that getting advisers to do pro bono work has been a problem. He says […]
Jennifer Gilchrist Proposition Lead – Design, Royal London When someone mentions whole of life plans, most people will think of a niche product that serves as an inheritance tax planning tool for high-net-worth clients. And it’s really not surprising they’ve been pigeonholed in that way because before the arrival of RDR in 2013, that’s more […]
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Three advice firms have stopped giving pension transfer advice following work by the FCA over the future of the British Steel Pension Scheme. A statement this afternoon details the FCA’s “information gathering exercise” to identify the firms that have been most active in advising people to transfer out of the scheme. The regulator got information from […]
The FCA has launched a consultation on its approach to authorisation and competition, which will be open to responses until March next year. Following the launch of the FCA’s mission in April, the approach documents are the second and third in a series of papers explaining how the watchdog tackles regulation. The first document, the […]