View more on these topics

Seven quit Living Time to join MGM

Seven sales staff have quit fixed-term annuity provider Living Time to join MGM Advantage as the company’s decision to halve staff costs starts to bite.

Last week, Living Time acc-ounts revealed the firm is to get £450,000 of working capital support from Alico by February 28.

The decision to implement a “wide-ranging staff cost reduction programme” follows confirmation of a £284,265 loss for the year ended March 31, 2010.

Earlier this month, Money Marketing revealed sales staff had left Living Time as the firm prepared to announce a distribution deal with MetLife.

MGM Advantage director of sales and marketing Aston Goodey confirmed seven former Living Time sales staff had joined the firm as it focuses on asset-backed annuity sales.

Following its partnership deal with distributor Openwork, MGM has also recruited former head of Openwork Market Solutions Justine Randall as head of partnership deals.



JP Morgan Asset Management launches low cost active fund

JP Morgan Asset Management is launching a low cost active managed fund that is designed as an alternative to the passive market. The JPM UK active index plus fund is a rebrand of the firm’s UK active 350 offering and will have a maximum total expense ratio of 0.55 per cent. The fund will have […]

Family Sipps boosted by MIR switch

Family Sipps have been given a boost after the Treasury confirmed that the minimum income level required to access flexible drawdown can be met from scheme pensions. In December, the Treasury confirmed details of proposals which will remove the requirement to buy an annuity at 75 from April. The reforms will allow savers to access […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment