Sesame is taking over five months to deal with investment bond complaints, according to claim management firm Brunel Franklin.Brunel Franklin claims director Ian Allison says out of the “seriously overdue” cases on the firm’s BondCompensation. com service, over 60 per cent are Sesame cases and the average number of days outstanding for these cases is 161 days. FSA guidelines suggest it should take up to 56 days for a decision followed by payout within a “reasonable” time. Allison says this suggests that Sesame has put less resources into dealing with bond claims than with endowments. He says: “Our assumption is that bonds have been given an even lower priority than endowments within Sesame and this side of the business may be even more under-resourced than the endowment claim team.” Sesame spokesman Jared Aitken says: “We take all complaints seriously, are in the top quartile for handling complaints among networks and have a dedicated team focusing on non-endowment complaints. Dealing with third-party handlers does delay things. “We are surprised and dis- appointed that Brunel Frank- lin, who we have been work- ing with to streamline the process, felt it necessary to make these comments.”
Liverpool Victoria is planning a series of free roadshows to educate IFAs on inheritance tax.The 28 seminars will commence in Nottingham and travel the breadth of the country to cover all geographical regions. The roadshow finishes in Newcastle on October 19.The seminars are designed to give IFAs “straight answers and valuable sales ideas.”They will highlight […]
The Intermediary Mortgage Lenders’ Association has appointed CML deputy director general Peter Williams as its first-ever executive director. He will take up his duties on October 1, 2006, after leaving the CML at the end of this month to work as a consultant. He will work for IMLA on a part-time basis.IMLA chairman Guy Batchelor […]
The Association of Investment Trust Companies has unveiled its new logo ahead of its rebrand as the Association of Investment Companies on October 1. Since the more inclusive name for the trade body was announced five months ago, its membership has diversified significantly, with 70 venture capital trusts, four UK investment companies and five offshore […]
Having heard continuous reassurances from mortgage industry trade bodies that payment protection insurance is not a problem for mortgage intermediaries, I found it ironic that the first penalty handed out by the FSA in relation to this misselling scandal should be to exactly such a firm. Furthermore, who is to say that Regency Mortgage Corporation’s […]
Peter Saacke, Artemis’ CIO, suggests what may lie ahead and explains how volatility suits stockpickers.
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Claims management companies must be more specific on separate permissions and competency when they under the remit of the FCA, according to HM Treasury. Under rules proposed in the Treasury’s latest consultation paper, claims management companies will operate under six sectors – housing disrepair, industrial injuries disablement benefit, personal industry, financial products and services, criminal […]
Knowing what assets each operator will accept and with what conditions is becoming increasingly difficult The recent well-publicised events concerning Sipp operator asset acceptance have focused the mind of a number of advisers. We have been fielding enquiries about our own Sipp and the asset classes we as a Sipp operator would consider. But this […]
Investment trust sales may come under pressure due to new EU rules, experts have warned. The potential benefits of gearing on investment trusts risk being overlooked as new cost reporting rules make them look more expensive compared with open-ended funds. Traditionally, closed-ended funds have looked attractive based on lower costs compared with other structures, as […]