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PIA expels IFA firm

The PIA is expelling Bhayani Insurance Brokers of Middlesex from membership and fining N W Brown & Company of Cambridge £4,000 over pension review failings.


It says it is taking disciplinary action against both firms because they have failed to take all reasonable steps to meet the December 1997 deadline to complete 90 per cent of their most urgent cases in accordance with the Guidance.

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IFAs see doubling of pensions business in next six months

IFAs are predicting that the volume of business taken in group and individual pensions, income drawdown and Peps will double over the next six months.The findings come from the just published quarterly PIMS survey.IFAs also believe that these products plus long term care have the most potential over the next five years.They also believe that […]

IFAs take 60 per cent of non-bank business in Q3 of 1998

IFAs consolidated their position as the dominant distribution channel for &#39non bank&#39 personal finance products sales in the third quarter of 1998.Their market share rose to 60 per cent in the third quarter of 1998 from 57 per cent in the second quarter according to IFA Promotion.It says overall sales in markets covered were down […]

Private Label appoints marketing chief

Private Label has appointed a new head of marketing to spearhead &#34aggressive expansion plans&#34 following its buy out by US car giant General Motors in November.Tony Fisher joined the mortgage design and packaging firm in 1988, and was previously marketing manager.In a further raft of appointments, Paul Summers joins as IT manager, David Hermon as […]

Lenders follow MPC lead and cut rates by 0.25 per cent

Major lenders are cutting their standard variable mortgage rates by 0.25 per cent mirroring the Bank of England&#39s Monetary Policy Committee&#39s base rate cut.Halifax and Cheltenham & Gloucester&#39s new rate is 7.45 per cent. The cut takes the Nationwide&#39s rate to 6.95 and Royal Bank of Scotland&#39s to 6 per cent.

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