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PIA rules update

In the wake of the Equitable closure the PIA has issued a reminder to firms of the standards expected when advising customers.

Investment staff should obtain sufficient information about clients&#39 circumstances before offering advice.

All advantages, disadvantages and options should be disclosed. Firms must ensure that advisers and representatives have a sufficient understanding of the position arising for Equitable&#39s policyholders if they are to advise on the client&#39s options.

A reason why letter must be sent.

The PIA expects firms to undertake checks to enforce these standards. Any firms or registered individuals failing to meet these standards could face disciplinary action.


Mansfield zooms in on the North

Mansfield Building Society has designed a two-year discounted rate mortgage that has an interest rate of 4.95 per cent. The mortgage is available for first-time buyers and borrowers who are remortgaging, but only in Nottinghamshire, Derbyshire and south Yorkshire. It has a 2.5 per cent discount in the first two years and there is no […]

Pink home loans joins lending panel

First National Mortgage Company has put Pink Home Loans on its premier panel of mortgage packagers. Pink are offering First National&#39s full product range, including their full status manageable mortgage, self-certification products and their new sub prime product range called Fresh Start. Pink marketing director David Copland says: “Fresh Start is a breakthrough in the […]

Two thirds of Britains don&#39t save says Allied Dunbar

Two thirds of Britains made no effort to save money in the last two years according to research by Allied Dunbar. More worringly still this figures rises to almost 80 per cent for people between the ages of 16 to 24 years old. The research shows Isas have been the most popular form of investment […]

Exclusive Connections cap and discount

Exclusive Connections has introduced the exclusive capped rate mortgage. Aimed at first time buyers and people looking to remortgage, the mortgage has a capped rate of 4.99 per cent for the first year of the mortgage. After this term it will have a discount of 1.25 per cent on the current standard variable rate for […]

Mothers missing out on millions

By Steve Webb, director of policy and external communications The ninth Royal London Policy Paper discusses how thousands of mothers are missing out on state pension rights when they don’t have to Earlier this month we published the ninth Royal London Policy Paper, entitled ‘Mothers Missing out on Millions’. It focuses on the thousands of mothers […]


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