Rowanmoor says restricting Asps based on religion and forcing everyone else to buy an annuity at 75 would be a “misrepresentation of trust” on behalf of the Government. In a letter to Treasury Economic Secretary Ed Balls, Rowanmoor director David Seaton accuses the Government of making no reference to its policy of forced annuitisation in […]
FSA managing director Clive Briault has highlighted commission as one of the five priorities of its forthcoming retail distribution review but says it has not concluded that commission is bad and should be banned altogether.
There is a puzzle at the centre of financial markets. The global economy is growing, there are signs of inflation and interest rates are going up, yet yields remain low. In this article, James Foster, manager of the Artemis Monthly Distribution fund, unpicks this conundrum and looks at where investors can find income. There is […]
The Pensions Ombudsman has ruled AJ Bell must compensate a client for investment losses attributable to a botched transfer to James Hay Partnership. Mr R’s complaint against AJ Bell is it was partly responsible for the delay in the transfer of funds that shut him out of the market and lost him thousands of pounds. […]
Sometimes in business you can have an exceptional year and, provided you do not take it for granted, all is good. Allowing expenses to match an unsustainable increase in revenue is asking for trouble. As the claims deadline for PPI draws closer, it is clear the ambulance chasers will be looking elsewhere to continue the […]
Embattled mutual insurer Equitable Life has been bought by Reliance Life, part of the Life Company Consolidation Group. In March reports emerged the firm was preparing to sell. Equitable Life, which has been in run-off since closing to new business in 2000, was still technically owned by its more than 300,000 remaining policyholders, most of […]