PYV has attacked Collegiate’s direct adviser PI product as inappropriate for the small firms it is targeting.Chief executive Neil Pointon says the service, which launches this week, is unsuitable for small firms which he says would be better off going to a broker for PI cover. He also says the claim department may not offer a fully independent service as it is linked to the direct proposition. Collegiate managing director Tony Howe says in many cases it does not make sense for a small firm with no complications to use a broker as fees will be disproportionately expensive. He says worries over the independence of the claim department are unfounded as claim handling is separate from underwriting and administered to industry standards. Pointon says: “I urge advisers against using this direct offering and to go through a broker as advisers know more than most that a brokered solution works in the client’s best interest.” Howe says: “I can understand PYV is worried about losing market share but you have to question the motivation and justification of these comments. Collegiate Direct offers a simple, innovative service to a specific market.”
The Association of Home Information Pack Providers is to launch a voluntary code of practice for Hips which all its members will subscribe to.
Over 50 per cent of houses will be buy ot let or second homes by 2026, according to property expert David Lawrenson. Lawrenson, of lettingfocus.com says the BTL market will increase for several reasons, which he will outline at the Property Investor Show from September 22-24.He says housing supply will not keep up with housing […]
Only a quarter of advisers are giving correct advice, while several banks have been named and shamed for either misselling products or claiming to be multi-tied when they are not, says Which? Mystery shopping by the consumer body into the pension and protection advice markets found that IFAs performed best but only 34 per cent […]
Cofunds, Fidelity FundsNetwork, Skandia, Selestia and Standard Life have joined forces to form the UK’s first representative Platform Committee.The committee has been created to develop industry-wide standards for consumer, advisers and fund providers and will involve input from the Investment Management Association.The Platform Committee will represent the sector and review and improve industry processes and […]
Paul Casson, the manager of the Artemis Pan-European Absolute Return Fund, expects to benefit from a (patchy) recovery in Europe and more profit warnings in 2016.
- Top trends
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
Intrinsic must compensate a client for the pension transfer advice it gave them. According to a Financial Ombudsman Service decision, in 2015 Mrs C was told to transfer her two existing personal pensions valued around £80,000 to a new Sipp provider. This money was placed in a scheme where Mrs C could adopt a dynamic […]
“There is nothing permanent except change”, so said the “weeping philosopher” Heraclitus circa 500 BC. Few would argue change was not needed in the retirement income market; it is just no one expected it to be so inorganic and non-negotiable. The impact of the pension freedoms Budget bombshell in 2014 was immediate and significant. Revisiting […]
True Potential has grown assets in its discretionary portfolios by £2.1bn in 2017. In its annual results, published today, the platform says it has attracted £3.8bn assets in its in-house funds in 2017, up from £1.7bn in the previous year. Assets into the funds were at £0.7bn in 2015. Since launch in October 2015, True […]