View more on these topics

Sales staff say they stand to lose out

Royal London&#39s salesforce is claiming that United Assurance&#39s salesforce

is getting preferential treatment on redundancy packages.

An MSF union spokesman says the Royal London management has intimated that

proposed voluntary redundancies would only be offered to United Assurance


But Royal denies it has said anything of the kind. It is making a takeover

bid for United.

It has already told its salesforce they must agree to new contracts

replacing commission with performance-related pay. Over 90 salespeople

refused to sign and were sacked.

Royal&#39s salesforce was taken off the road last year for retraining for six

months at a cost, the MSF says, of £15,000-£20,000 per salesperson.

The MSF spokesman says: “Royal London sales staff have been told by

management there is nothing in the redundancy packages for them.”


Bank of Scotland set to launch new fund operation

Bank of Scotland is planning the launch of a new independent fundmanagement business but is staying tight-lipped on details.The business will serve the UK and European corporate mid-market and willalso manage the bank&#39s existing £550m portfolio of mezzanine loans andprivate equity investments.It will be managed by Colin Leslie, who is divisional chief executive ofthe bank&#39s […]

Nuki&#39s Eye

The Government&#39s Catmark scheme is in urgent need of consolidation andpromotion.Introduced first for equity savings plans and soon for mortgages andpensions, the scheme was designed to inj-ect greater competition into the booming personal fin-ance market.By giving a Government stamp of approval to products with reasonablecosts, access and contract terms, the Chancellor hoped to spark adem^_and-led […]

Alliance poaches new boss from Lloyds TSB

Alliance and Leicester announces it has successfully ended their search for a new leader with the appointment of Peter McNamara of Lloyds TSB.He will be the bank&#39s group managing director from June. Since 1996, he has held the title of managing director of personal banking at Lloyds.John Windeler will remain on the team as executive […]

Independent View

The last-minute rush to subscribe for an Isa has come and gone andhopefully we can all breathe a little more easily and plan our workaccordingly.Despite their complexities, Isas have been a success. This has beenfuelled partly by the desire of investors to get into technology funds.But there is no doubt that Isas are complicated. It […]

Tax-free gains? That can’t be right, can it?

When he was Chancellor of the Exchequer, George Osborne made several changes to the way in which income is taxed. Personal allowances were increased significantly above the rate of inflation; a starting rate band was introduced for savings income and, with effect from 6 April 2015, this was assessed at 0 per cent. In addition, […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm