Origo has removed the per-sonal liability that each adv-iser bears under its Unipass digital certificate contracts following user concerns.Origo managing director Paul Pettitt says the move was made after feedback from users, notably Sesame, unhappy about a clause in the contract suggesting personal adviser liabilities of up to 15,000. Pettitt says Origo has been planning the move for some time but had to wait for procedural and data issues to be tidied up. In the past, Pettitt has defended attacks against the policy of adviser liability, saying advisers had nothing to worry about as long as they used the digital certificate system appropriately. He says the personal liab-ility under the original contract has been replaced by simpler rules of use. Pettitt says: “Under these rules, each individual will still have to treat their Unipass responsibly but no personal liability exists anymore, potential or otherwise.”
Standard Life has announced strong results in life and pensions for the first six months of 2006 particularly in Sipp and investment bonds.New business in UK life and pensions up to June 30 2006 amounted to APE sales of £594m, up 25 per cent from £475m in 2005. Single premiums fared better in the half […]
Seven Investment Management has passed the half- a-billion-pound milestone across its multi-manager fund range. Since Seven launched its multi-manager Oeic 30 months ago, three of its original funds – moderately cautious, balanced and moderately adventurous – now have more than 100m in assets apiece. The portfolios are overseen by chief investment officer Ros Price and […]
Council of Mortgage Lenders deputy director general Peter Williams has decided to leave the organisation to become a self-employed consultant.He will leave on September 30 following 12 years of service at the CML but he will continue to work with the Council in his new capacity. During his time at the CML, Williams also held […]
I would not seek to take issue with any of the technical aspects of Keith Popplewell’s article on the vagaries of retirement income funding but what it does highlight is all the reasons why the public are so deterred from putting money into a personal pension. Faced with such a near-infinite combination of factors, most […]
Jelf Employee Benefits discusses the legislative changes in Dubai, available medical facilities and policy considerations for employers with expatriate workforces in the country. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Dubai, or are considering operating there in the near future.
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Claims management companies must be more specific on separate permissions and competency when they under the remit of the FCA, according to HM Treasury. Under rules proposed in the Treasury’s latest consultation paper, claims management companies will operate under six sectors – housing disrepair, industrial injuries disablement benefit, personal industry, financial products and services, criminal […]
Knowing what assets each operator will accept and with what conditions is becoming increasingly difficult The recent well-publicised events concerning Sipp operator asset acceptance have focused the mind of a number of advisers. We have been fielding enquiries about our own Sipp and the asset classes we as a Sipp operator would consider. But this […]
Investment trust sales may come under pressure due to new EU rules, experts have warned. The potential benefits of gearing on investment trusts risk being overlooked as new cost reporting rules make them look more expensive compared with open-ended funds. Traditionally, closed-ended funds have looked attractive based on lower costs compared with other structures, as […]