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Royal London to unlock orphan assets

Royal London is in discussions with the FSA to unlock around £163.65m of orphan assets acquired from a subsidiary company. The assets come from Refuge Assurance, which Royal took over when it bought United Assurance for £163.1.6bn last April. Refuge Assurance merged with United Friendly in 1996.

The move follows Axa&#39s successful court case to distribute its orphan assets and will affect up to 200,000 Refuge policyholders.


Portal in a storm

Portals are not a new concept. These entry points to the internet, which offer content and services, search facilities and enable transactions, provide customers with advice, transparent prices and a wide range of products from which to choose. But, to date, the benefits for financial services providers have been limited. The marketers&#39 theory is that […]

&#39Pseudo-guides duping the public&#39

Two leading IFAs are calling on the FSA to clamp down on Isa broker guides issued by many discount brokers, claiming they are misleading investors. Torquil Clark says the FSA needs to tackle the “highly questionable” fund selection process used in many of the guides. In a letter to FSA chief executive Howard Davies, Torquil […]

Friends Provident – e-Ifa Protection

Wednesday, 21st March 2001.Type: Term assurance.Minimum sum assured/premium: None/£6 a month.Minimum-maximum term: 5 years-30 years or age 65 if sooner.Charges: None.Commission: Initial 10 per cent.Tel: 01722 311122. 

Henderson Global Investors – Independent Distribution Portfolio Trust

Tuesday, 20th March 2001.Type: Unit trust.Aim: Income by investing in unit trusts, Oeics and fixed interest securities.Minimum investment: £5,000.Investment split: UK equity income 48 per cent, UK fixed interest 36 per cent, global fixed interest 10 per cent, sterling cash deposits 6 per cent.Isa link: Yes.Pep transfers: Yes.Charges: Initial 5.25 per cent, annual 1.25 per […]


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