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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Another investment manager offering enterprise investment schemes has alerted clients of a 10 per cent drop in value for one of its portfolios following new Mifid rules. Mifid II, which came into force on 3 January, requires firms to notify clients when the overall value of their portfolio, relative to its value at the beginning of each reporting […]
The recent enquiry by the work and pensions select committee has reignited the debate about the future of collective defined contribution schemes. Whether these sort of schemes can be incorporated into the current UK pensions landscape is a moot point. Let’s consider some of the arguments for and against CDC. First of all, it is […]
Retirement interest-only mortgages are set to become more popular following the FCA removing hurdles to selling them. The regulator sees RIO mortgages as a possible aid to the waves of maturing interest-only loans with no repayment strategy. However, the FCA also wants RIO mortgages to be sold more widely, for example as an additional option […]