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Smee bitterly disappointed

The director general of Aifa Paul Smee says he is bitterly disappointed at the Government decision on polarisation.

The move has also been criticised by the country’s top life office Norwich Union which says it believes the Government should have gone down the gap filling route.

Smee has hit out at the decision for adding to public confusion. But Smee emphasises that all is not lost yet with the full consultation to be held before changes are made to the regime for other products.

The first criticisms have also come from consultancy Ernst & Young and the Association of Investment Trust Companies.


FundXchange goes online with offshore plan service

Technology specialist Fund-Xchange is setting up an online transaction facility which it claims will revolutionise the offshore mutual funds industry.The company will be the first independent electronic exchange and execution facility to be launched for offshore funds and aims to replace the current systems.FundXchange says the online platform will process transactions and deliver information to […]

Boardroom reshuffle at Lincoln Financial Group

A BOARDROOM reshuffle at Lincoln Financial Group has seen former Finance Director, Michael Tallett Williams appointed Managing Director and Director of Distribution Phil Holstein returning to the USA to become Bank Channel Head of Lincoln subsidiary, Lincoln Financial Distributors. Former Managing Director, Bernard Brown who will remain chairman said: “Mr Tallett-Williams has a deep understanding […]

R & SA may pay out up to £110m

Royal & SunAlliance said this week it expects to pay out between £80m to £110m as a result of the recent flooding and storms across the country. The insurer said it was possible premiums may rise in badly hit areas but did not think there would be a general rise across the industry. R&SA chief […]

IFAs unhappy at polarisation plans

Yesterday&#39s pre-budget announcement on the phasing out of polarisation is against the public&#39s interest and will confuse consumers according to IFAs.Charter Financial Planning senior partner Barry Woolley says: “This move will considerably blur the position. It is a minefield which panders to the direct sales offices and flies in the face of logic.”Paul Duckworth IFA […]


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