Zifa announces it has doubled its mortgage introduction business this year to £600m from £300m in 1999. The latest CML figures indicate there has been a decline in mortgage business over the last quarter but this doesn't seem to have affected Zifa. This is the second year, Zifa has been active in the mortgage introduction […]
Former Morgan Grenfell fund manager Peter Young, accu sed of committing a £220m fraud in 1996, was found unfit to stand trial at a Southwark Crown Court hearing last week. The two-week hearing heard that Young, who now dresses as a woman and prefers to be called Beth, has attempted to castrate himself several times […]
The Catholic Building Society has introduced a specific account for children. The children's account has a minimum balance of £5 and an interest rate of 5.5 per cent is paid annually. Incentives are offered to encourage savings. Once a balance of £500 is reached on an account a £5 Virgin Megastore voucher is offered and […]
Clerical Medical has unveiled a standard 1 per cent annual management charge across its new Futureproof range of individual pension plans. From the new year, the range will offer a 1 per cent charge on pre-stakeholderstyle personal pensions, free-standing additional voluntary contributions and executive pension plans. The move responds to market forces bringing all pre-retirement […]
With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.
A life expectancy tool that assesses longevity based on information including a health assessment from a qualified nurse is aiming to help advisers with defined benefit pension transfer advice. The FCA introduced a rule this year that advisers making a recommendation on a DB transfer must plan for a client living a “reasonable” period beyond […]
Discretionary fund manager charges have come under increasing scrutiny since the FCA launched its platform market study in July last year. The regulator is currently looking at the role of DFMs in the value chain to see if their charges are justified, with the results expected to be revealed later this summer. Money Marketing has […]
Once upon a time, almost every adviser entered the profession via major banks and providers. These players encouraged staff to take professional exams, providing a rich seam from which firms could mine an endless stream of young candidates keen to move into the more demanding independent advice sector. Once RDR took effect, we lost that […]