A campaign to root out poor sales practices in the sub-prime market will start this month.The initiative from Pink Home Loans will run throughout the year and aims to highlight where brokers are failing customers across the non-conforming market although the network says it will not name and shame offenders. Pink, which has plans to launch a suite of sub-prime products on the back of the campaign, says it will tip off the FSA about any offences it uncovers. It is finalising plans to publicise the drive and is likely to run an advertising and PR campaign as well as send an email bulletin to its database of 4,000 intermediaries. Managing director Tony Jones says: “We are looking to remind people that the FSA has identified high-risk areas when mystery shopping took place and those problems should not be repeated. It is down to the FSA what it does with any information it receives from us but we will not name names as, when you start throwing mud, then others respond.” London and Country head of communications David Hollingworth says: “It is good PR for Pink but there is nothing wrong in doing this if it stamps out bad practices as the market is seen as something from the Wild West. There is no way it could name and shame as it would then be taking on the role of policing the industry.”
Scottish Widows is the latest life office to contract direct customers back into the state second pension automatically unless they choose otherwise. Widows has written to around 7,500 direct customers telling them that it will contract them back into S2P by the end of January unless they object. This follows similar moves by Prudential and […]
We really need to put the priority on developing products and services
Tilney Investment Management has bought Clydesdale Banks discretionary investment management business for an undisclosed sum.
Rathbones has appointed James Maltin as investment director to manage private client portfolios.
After a year of correctly anticipating bund yields (negative) and defaults (Abengoa), James Foster looks forward to a rise in interest rates in 2016.
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