Royal London has announced major changes for its mortgage subsidiary Scottish Life Mortgage designed to improve efficiency and service levels in anticipation of mortgage regulation in October.
IFA Promotion is warning the government not to ignore existing adviser qualifications when the new exam framework for financial intermediaries is brought in by the Skills Council for Financial Services.
Midlands-based Lifeboat Financial Group is bringing its four divisions into one single adviser division and will license its advisers by product area.The group is amalgamating the four divisions into Lifeboat Financial so it can trade under one brand name and bring its mortgage and general insurance brokers over to the regulated environment.The group has 114 […]
Scottish Equitable believes the Sandler suite could have a negative impact on investment products such as trackers and Isas.Under plans for a lightertouch advice regime, the existing stakeholder model will be subsumed into the suite and products offered alongside restricted to 60 per cent equity exposure.But Scottish Equitable director of business development and communications Ken […]
Britannic has offered a ray of light to with-profits policyholders, signalling it is on track to start paying bonuses again.The group's interim results show a profit of £44m compared with £52m last year. Britannic Assurance made a pro-fit of £44m, down from £58m.Britannic says its equity-backing ratio is stable at 30 per cent, with its […]
Mark Page and Laurent Millet, managers of the Artemis European Opportunities Fund, look at why, how and where fluctuations in European markets can generate opportunities for their fund. When asked what the stock market would do next, John Pierpont Morgan is reported to have replied that “it will fluctuate”. His (apocryphal) answer proved accurate. Over […]
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]