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PIA expels Nottingham adviser

The PIA has expelled IFA Bowbanks & Field of 7 High Street, Hucknall, Nottingham for failing to be fit and proper to conduct investment business. The move comes after its sole director and registered principal Graham Field pleaded guilty to Nottingham Crown Court of perverting the course of justice and obtaining money by deception. Following a motor accident, Field obtained and produced to police a backdated insurance cover note and claimed against the policy receiving £22,196. He was sentenced to four months imprisonment on January 15, 2001.

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LM Financial appoints Midlands and Northern sales director

Lamensdorf Group has appointed Steve Kitching as its Midlands & Northern regional sales director for LM Financial, its national IFA operation. Steve Kitching, formerly at NFU Mutual, has over ten years’ experience in financial services, including four years at Prudential. Mr Kitching&#39s appointment is the latest move by Lamensdorf to continue the strategic development of […]

Man brings in fourth version of offshore bond

MAN INVESTMENT PRODUCTSMan-IP 220 Plus Series FourFlexibility 5.3Company&#39s reputation 4.6Past performance 7.0Charges 7.0Commission 4.3Product literature 5.0Man Investment Products has introduced the fourth in its range of Man-IP 220 funds. Man-IP 220 series 4 is an offshore bond registered in Bermuda. The bond is divided into two halves, with one section investing in 100 global futures […]

Talkback

Should recognised professional bodies continue to get trail commission after N2 even though they will no longer be authorised to provide advice? “Yes. When I retire, I will no longer be authorised but I would like to still receive trail commission.” Michael Littlefield, Michael Littlefield & Associates“No. If they are not giving advice, why should […]

Mercantile takes the long view

Mercantile Building Society is looking to the long-term mortgage market with the introduction of its lifetime discount mortgage.The mortgage has a discount of 1.1 per cent for the term of the mortgage, giving it a payable rate of 5.54 per cent for loans of up to 80 per cent of the value of the property. […]

Value for money in DC pensions

The Pension Policy Institute (PPI)’s recent report “Value for money in DC pensions” tries to identify factors by which people can assess whether their pension offers fair value for money (VFM). Fiona Tait provides an overview of the findings. Positive Outcomes It is extremely hard to assess VFM in a pension. Press activity naturally focuses […]

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