The ex-members of Network 300 have read and absorbed the comments of Christopher Batten in the media about the demise of Network 300 over the past few months.Let us not forget that clients and members of the public trust and rely on the advice from the independent financial advisers unwittingly caught up in the collapse of Network 300.Let everyone also not forget the financial and emotional hardship that this has laid at the doorsteps of many individuals and families-For months, we have been informing you, Peter Garlick and Lucy Batten that we were intending to appoint a different liquidator. On six occasions, we offered you all the opportunity to address members. All along, every olive branch, every offer and the intention to appoint a different liquidator were treated with contempt and were ignored. As creditors, the ex-members are now no longer in a position, nor do they have the desire to meet with you or other ex-directors. The matter is now in the hands of the appointed liquidator. A meeting with the ex-network members will serve no purpose. If there is any evidence to support the claims attributed to Mr Batten, then the exmembers of Network 300 ask for this to be presented to the liquidator. All the ex-network members now require is that all documentation in the hands of the former directors of Network 300 is presented to the liquidator in an open manner, that there is nothing presented to him that cannot be substantiated by hard evidence and that all comments made to the liquidator can be proven.
Legal & Generals corporate pensions division has announced that its funds under management has passed the 100bn milestone.The results are part of record business figures of 15.2 billion from UKand European clients as Corporate Pensions funds rose to over 103bn.L&G group director, investments Tim Breedon says: “The new managing director of our corporate pensions business […]
Torquil Clark has acquired neighbouring firm PS Employee Benefits in a deal that will more than quadruple company turnover.
Norwich Union has seen pension business fall by 10 per cent since cutting commission last September. The fall put a dmaper on generally positive results for the firm, which last year saw life and pension sales increase by 9 per cent to £2.55bn from £2.37bn in 2003 on an annual-premium equivalent basis. For the first […]
Jason King’s recent letter exemplifies the same arguments that were put forward in the 1970s, by the “buy a term and invest the rest” brigade who used bland figures to substantiate equally bland arguments. Term insurance was the foundation of all insurance but the foundation of life insurance and the concept of whole-life insurance acknowledged […]
The world around us is changing at a faster pace than ever. Generations are changing and over the next five to 10 years the graduates who have grown up with Facebook and Twitter will start to lead corporate UK and expect modern technology as a matter of course.1
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Royal Bank of Scotland has joined rivals like HSBC in launching an automated investment advice service for more than five million customers. The bank claims to be the first bank in the UK to launch a “fully regulated” robo-advice service, which will be under its NatWest brand. The service, live from Monday, is targeted at […]
There is nearly £8.5bn in “drifted” legacy UK equity income funds that have underperformed against the sector over the past decade, research has found. As the fund management industry awaits Mifid II next year, Morningstar has analysed the competitive UK Equity Income sector on behalf of Money Marketing and found about 10 per cent of the sector’s […]
Old Mutual Global Investors has appointed Freddie Woolfe head of responsible investment and stewardship, reporting into chief executive Richard Buxton. Woolfe joins from Newton Investment Management, where he was a responsible investment analyst primarily covering the healthcare and technology, media and telecommunications sectors. Previously he held roles at Hermes Equity Ownership Services and HSBC. Woolfe will […]