The PIA has fined network Interdependence of AMC House, Chantry Street, Andover, Hants £35,000 and ordered them to pay costs of £5,000.
Between October 1997 and January 1999 Interdependence failed to remedy rule breaches identified by the PIA following a supervision visit between 12 July and 13 August 1997.
AA Financial Services claims its new telephone-based IFA service will tackle the poor levels of customer service it says are inherent in the industry. The AA says its research shows many financial services customers are dissatisfied with the “very poor” post-sale experience they have received from IFAs and direct-sales teams. It claims its IFA service, […]
Thursday, 12 April.Scott's Cove FundType: Offshore hedge fund.Aim: Growth by investing in financially distressed companies, bankrupt companies, companies undergoing reorganization or recapitalization in the US.Minimum investment: $250,000.Place of registration: Bermuda.Investment split: Distressed debt 30-60 per cent, bankrupt and defaulted debt 30-60 per cent, high yielding debt 0-30 per cent, equities 0-20 per cent.Isa link: No.Charges: […]
Cheltenham & Gloucester is cutting rates on its capped and fixed-rate mortgages by 0.2 per cent across the board. The rates are available to new customers and existing borrowers paying the bank's variable rate of 7.5 per cent. Borrowers can fix their mortgage for two, three or five years at rates of either 5.79 per […]
Investment trusts managed with a barbell approach could shatter investor confidence in the entire investment trust sector, according to research by Edinburgh University. The research also criticises the so-called “magic circle” of split-capital investment trust managers, who all hold shares in each others trusts. The research, published in the Journal of the UK Society of […]
Last Wednesday was International Youth Day: a UNESCO (United Nations Educational, Scientific and Cultural Organisation) initiative that began in 1999.
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Advisers will not be eligible to become shareholders in AJ Bell when it floats unless they are a customer of a business, the platform has said. The business is preparing to list on the main market of the London Stock Exchange either in December or early 2019. As part of the listing, AJ Bell is […]
Paraplanning firm Heather Dunne Consulting has gone into liquidation after its principal restricted its pension transfer permissions. Adviser Heather Dunne founded the firm in 2002 to support advisers doing pension transfers and the firm’s biggest client was HDIFA. HDIFA is also run by Dunne but was placed on voluntary suspension in July 2017 when it was […]
HMRC is tightening the screw on tax avoidance involving profit fragmentation Tax avoidance continues to drive Treasury and HM Revenue & Customs activity. Over the summer, the Revenue published responses to its consultation on proposals to tackle schemes designed to move UK business profits outside the charge of UK tax, often using offshore trusts and […]
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