The Personal Accounts Delivery Authority has confirmed that Logica UK has withdrawn from the bidding process to administer personal accounts, leaving only two bidders, Tata Consultancy Services and a team including Great West Retirement Services and Canada Life. Danish admin firm ATP withdrew in October.
Metlife is increasing the guarantee choice on its retirement portfolio.
Meteor Asset Management is looking to create a new company to hive off the administration function from the plan management promotion for its structured products.
Fidelity International says platforms using guided architecture or packaged fund lists should have to disclose all commercial considerations involved in the providers being included. UK retail sales head Peter Hicks warns that if this data is not available then advisers are “left in the dark”. He says: “It is all very well saying this is […]
So Argos is comparing the market, with supposedly links to thousands of brokers. Does this mean the applicant will be forced into completing the application form using a tiny little pen? Will people have to press a few buttons, just to see if Woolwich have any mortgages in stock? Then once your application has gone […]
While equity valuations have doubled since the financial crisis, Simon Edelsten explains that there are still pockets of value. But not where you might think Macro-economic uncertainty is causing turbulence in equity markets. Artemis Global Select Fund manager Simon Edelsten says his investment themes are taking him in a different direction to some of his peers – away […]
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Latest statistics show personal pensions, in particular, get a bad rap The recently published preliminary estimates from the Office for National Statistics’ Wealth and Assets Survey make for interesting reading with regards to how people view pension savings and how safe they are. The next round of this survey will be even more interesting in light […]
Beaufort Group is planning to add three more firms to its network with one deal expected to finalise next week. Chief executive Andrew Bennett says the other two small to medium-sized firms are expected to join “imminently”. In January, Beaufort Group added Statehouse Group as an appointed representative. The firm is now called Beaufort Financial […]
Significant gilt weightings continue to be recommended, despite concerning signals on their risk Government bonds play a pivotal role in a balanced portfolio; there are very few assets that provide the diversification benefits gilts can bring. So often over the last 30 years, when equity markets have zigged, bond markets have zagged, thereby smoothing return […]