Scottish Life has become the latest life company to rule out a price war and has taken a swipe at rivals writing unprofitable business for market share.The firm’s life and pension business rose by 8 per cent for the half-year to June to 695m from 645m in the same period last year. Group finance director at parent group Royal London Stephen Shone says: “In the pension market, Scottish Life has continued to very deliberately target profitable new business. We have taken a firm decision that we will not destroy capital by writing business which can only ever be profitable on paper and then only if unrealistic assumptions are made about future persistency.” He says IFAs are increas- ingly using its adviser fee payment model to help build a sustainable business model without the need to rebroke pension plans regularly around the market. Scottish Widows chief executive Archie Kane said Widows will not get dragged into a “destructive” price war when the group issued its interim results this week. Royal London’s asset management new business flows rose by 46 per cent to 456m from 312m and Bright Grey’s new business rose by 18 per cent from 67m to 79m.
Fidelity is to start paying renewal commission both on lump-sum investments and regular savings business into its Luxemburg-domiciled funds for the first time from this week. From August 7, Fidelity will pay advisers 0.5 per cent trail commission on 27 of its Sicav funds, including its China focus and India focus funds, as well 16 […]
Towry Law head of pensions Simon Farrant has joined Distribution Technology Limited as head of financial planning. Media commentator Farrant will work on the development of a range of retirement planning services for DTL’s clients.
Technology funds have been something of a backwater for retail investors since the TMT crash that lost investors so much money.
The Tenet Group is submitting its protection arm Premier and compliance support subsidiary Tenet Support Services for FSA regulation. The company says that although this is not a requirement for these parts of its business, it wants the additional stamp of credibility and authority that it believes regulation will bring. Tenet Group chief executive Simon […]
We British are known for our stiff upper lip and just getting on with things. It’s part of our quirky cultural behaviour – like forming orderly queues, or saying sorry when it’s not our fault. Many of us just aren’t that great at talking about what’s bothering us. But if someone feels that the stresses […]
- Top trends
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
Offsetting the cost of advice this way would benefit clients and advisers alike One of the multiple barriers to better take-up of financial advice is that some people are unwilling or unable to meet the upfront cost. In response to this, the government has allowed people to take small chunks (three lots of £500) out […]
Fund managers like to trade off having a unique style. There thousands of funds out there to choose from – the question I often hear from advisers is: what makes this person different? Sometimes this can be a really tough one to answer. “We invest for the long term” is all fine and good, but […]
With rising costs and an increasingly tough regulatory market more advisers are looking to outsource their investment proposition, with many leaning towards discretionary fund managers. But while the number of advisers using DFMs is on the up, overall satisfaction with them has dipped. According to a recent survey by financial information firm Defaqto, 74 per […]