The long awaited Penrose report into what went wrong at troubled insurer Equitable Life looks likely to be published the week of February 23. The 800-plus page report was expected to be made public earlier this month, but speculation over the weekend suggests it will be later due to the “legal complexities” of going through the document and preparing the Government response.
I was interested to read that two loss-making firms, Inter-Alliance and BBB, propose to merge (Money Marketing, January 22). However, each company has demonstrated that big is not necessarily beautiful. My practice is a firm believer in providing clients with the opportunity to obtain independent financial advice from both local and national firms but I […]
The ABI is claiming that confidence in saving is creeping up following the release of the latest results of its pensions and savings index. The survey of 2,479 people in January shows a “small but significant” change in attitudes and confidence levels, with trust in the Government's pension policies rising slightly to 17 per cent […]
The FSA has freed mortgage lenders from the blame cast by TV and national press by releasing a review into self-certification mortgage application fraud which says lenders have adequate controls for dealing with application fraud. The research came off the back of the October 2003 screening of the BBC's Money Program, in which it was […]
Friendly society Liverpool Victoria has joined the procession of insurers aligning themselves with major retail outlets, with a deal to sell life insurance through Boots. In contrast to other insurers, it will offer a free advice line for customers to seek guidance on their insurance needs from a specialised adviser. A typical policy will see […]
There has been an Industry call for increased training for GPs in health and work.
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Phoenix is set to shed roles in a redundancy round following its decision to buy parts of Axa’s business last year. The closed-book provider snapped up Axa Wealth businesses Embassy, its off-platform investment and pension division and Sun Life, its direct protection business, in a deal signed last May, before also buying rival closed-book operation […]
Hargreaves Lansdown has removed Paul Chesson’s Invesco Perpetual Japan fund from the Wealth 150 list of recommended funds due to its volatile performance. Chesson, head of Japanese equities, has run the £318m fund since 2000 and takes a high conviction, contrarian approach to investing. Investment analyst Dominic Rowles says that while this has led to […]
Firms will not necessarily have to advise on every relevant investment product but it will be difficult to discount structured deposits