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Scot Prov landslide for Abbey takeover

Scottish Provident policyholders have agreed to merge with bank Abbey National by a massive 97 per cent.

The vote follows recent overwhelming acceptances by Scottish Life members to a takeover by Royal London and acceptance of demutualisation proposals by Friends Provident’s management.

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Sandler adds fuel to review worries

Ron Sandler, the head of the Treasury investigation into the retailinvestments, has stoked IFA fears about his review by claiming distributionhas an inbuilt ambiguity. In an interview in the Sun-day Times, Sandler said there is prima facieevidence that unit trust charges are high and acknowledged the high levelof concern about with-profits. His comments suggest that […]

Merricks admits IFAs may not value scheme benefits

The chief financial ombudsman has conceded that it may be difficult forsmall IFAs to see the benefit of belonging to the Financial OmbudsmanScheme because of the limited number of cases they are involved in. Writing in the scheme&#39s annual report, chief ombudsman Walter Merrickssays the service will rarely seem good value for money to small […]

Leeds & Holbeck – Two Year Tessa Isa

Wednesday, 27 June 2001.Type: Cash Isa for Tessa maturities.Minimum investment: £1.Maximum investment: £9,000.Catmarked: No.Interest rate: 6 per cent.Charges: None.Commission: None.Tel: 0121 643 6741.

Review reports to be quarterly as small firms flag

IFA firms will have to make quarterly progress reports in the pensionreview bec-ause small advisers are having difficulty sticking to thetimetable. The announcement was made in the FSA&#39s annual report addressing concernsraised by the Financial Services Consumer Panel about IFAs&#39 progress onphase two. Small IFA firms represent only 5 per cent or 4,500 of the […]

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