View more on these topics

Royal London tumbles down PressWatch table

Royal London Insurance&#39s positive national media coverage plummeted in

July following its fine by the FSA for misselling of investment products,

according to PressWatch Financial Products.

Royal London dropped 362 places in the main table to 494th position from

132nd in June, putting it third from bottom just above Indepen-dent

Insurance and Equitable Life.

Nationwide held its top position on the back of positive coverage for its

mortgages and credit cards.

The only blip was the ann-ouncement of the departure of chief executive

Brian Davis, which prompted rumours of unease on the mutual&#39s board over

its mortgage policy.

PWFP says the FSA came under attack for its handling of the Equitable

crisis and admitting to making mistakes.

In the investment trust table, PWFP says Foreign & Colonial easily

maintained its position at the top, winning plaudits from IFAs, including

Hargreaves Lansdown head of research Mark Dampier.

PWFP says the sheer quantity of mentions kept Friends Provident at the top

of the life insurance league.

Standard Life and Norwich Union benefited from being inundated with

recommendations in the wake of the Equ-itable Life scandal from pun- dits

such as Chase de Vere&#39s Anna Bowes.

Once again, Bowes was the pundit with most mentions and Torquil Clark was

the most quoted firm, followed by Chase de Vere and Har-greaves Lansdown.

PressWatch sales director Tim Crane says: “Royal Lon-don&#39s position is by

no means unique but typifies the uncertainty and ugliness dogging the life

industry.”

Recommended

B&B profits up but jobs to go

Bradford & Bingley is axing 500 staff as part of a cost-cutting drivedespite seeing profits rise by 22 per cent in the half-year to June. Profits rose to £119.7m from £98.1m in the six months toDecember but the former building society said it inten-ded to slash jobs ina bid to save £30m by the end […]

The last post

The financial sector spends far more on direct marketing than any otherindustry and direct mail is its main medium for attracting sales prospects. Yet most major financial organisations stubbornly refuse to adoptsophisticated targeting techniques. It …s not difficult to understand how the industry came to embrace massmailings. Back in the 80s, it was an excellent […]

Godfrey demands &#39free&#39 stakeholders

AITC director general Daniel Godfrey is calling on the Government tointroduce “free” stakeholder pensions in a move which he claims would solvethe UK pension funding crisis by 2050. In an article for Money Marketing this week, Godfrey warns that continuingthe status quo – where today&#39s workers fund today&#39s pensioners – will leadto either “massive tax […]

&#39Property not about to subside&#39

Property is still a good bet for investors despite doom and gloompredictions, claim experts. While some of the biggest lenders believe the property market has peaked,some pundits still see rental and commercial property as a sure way ofgiving returns of over 7 per cent. Last month&#39s Nationwide house price index suggested price rises areunsustainable and […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment