Non-regulated network Personal Touch Insurance has announced the promotion of strategic development director Mike Allison to managing director. He replaces Martin Wilson, who is to take up the role of chief executive. Allison had been in his previous post since April, 2002 where Private Touch says he has been responsible for the growth of the company, which has seen its turnover double over each of the last four years.
Once again, another Budget passes with no significant changes to the inheritance tax regime, the nil-rate band simply rising in line with inflation to £255,000.On the surface, IHT seems to be the forgotten tax as far as Gordon Brown is concerned but perhaps if we dig a little deeper we can detect a reason for […]
The FSA has come under significant pressure from trade bodies and product providers to change its decision to exclude suitability letters from its regime for mortgage intermediaries.The regulator's stance has led to Aifa director general Paul Smee's call for the industry to produce its own suitability letter in the absence of leadership from the FSA.Speaking […]
Ron Sandler has accused IFAs of supporting complexity in the design of products bec-ause it helps them to justify their existence.He said there was a significant link between complexity of financial services products and a lack of consumer trust.Sandler told delegates at the Ernst & Young Financial Services Summit that the Gov-ernment could not contemplate […]
Regulation will hit many smaller players in the mortgage market, fears MCCB chief executive Luke March.At the BSA conference, March revealed that in 2002 there were 7,814 firms with only one member of sales staff. He predicts these will become unauthorised introducers of new business, leave the market or join mortgage networks.March said the demands […]
The introduction of ground-breaking pension freedoms in April 2015 has created some uncertainty for employees and employers alike, and they are looking for help. With further changed announced in the summer Budget, employees really need help to understand how the changes affect them.
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]