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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It is likely the increased regulatory scrutiny on fund managers’ value could filter down to advice firms in the future In my last article, I considered the influence a non-executive director could have in challenging an advice firm’s business model in light of the pension transfer issues. Now, in its asset management market study final […]
The financial services industry has failed to find ways of nudging consumers to think about their options at retirement, despite three years of pension freedoms. A panel at the Association of British Insurers retirement conference today lamented the way companies talk to people about pensions and the lack of engagement it inspires. ABI director general […]
The new chief executive of the single financial guidance body can expect a salary of £175,000 a year, according to a job advert posted online. The advert, posted on the Cabinet Office website says applications will close in mid-May with final interviews held in early July. The date for announcing the successful candidate has not […]
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