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.
Platforms Nucleus and Transact have both taken a hit on their share prices after a suge in interest when they became listed companies. Nucleus’s share price has fallen from 239.5p a share on 26 July when it listed on Aim, to 161.5 per share as at 15 October, a fall of a third. In September […]
The FCA has published a consultation on proposals to hike the maximum compensation amount the Financial Services Ombudsman can require firms to pay. Raising the maximum amount of compensation would see the cap increase from £150,000 to £350,000. Adviser and wealth manager trade body Pimfa has already criticised the proposals arguing they could lead to […]
Vitality has launched an insurance proposition to help customers meet the rising costs of later life. Dementia and “frail care” cover will be offered at no extra cost as part of Vitality’s serious illness cover, and will provide members with protection for a range of degenerative later life illnesses. The cover aims to limit the […]