View more on these topics

Sofa slams kite marks for pensions

Sofa has hit out against plans in the pensions Green paper to use

kitemarks on pensions.

A Catmark is already used to help consumers recognise simple savings

products but the Department for Work and Pensions wants to extend

their use to pension products.

Sofa believes that use of the proposed kitemark for pensions will

have little impact for consumers unless it is supported either by a

huge education campaign or by traditional advice from professional

financial advisers.

It says the DWP is underestimating consumer apathy and it wants to

stress that it thinks many consumers do not avoid products because

they lack “the stamp of approval” but because they lack the

confidence and knowledge to make informed decisions.

Sofa managing director Brian Lawless says: “We support any measure

that will restore consumer confidence but kitemarks alone will fail

to do this. We are calling for a more consistent approach to the

distribution of all financial services products so that consumers can

have faith in the whole industry. We firmly believe that standards

need to be improved across the whole spectrum and we are in

discussions with all authorities to ensure that this happens.”

Recommended

Govt is urged to top up savings for less well-off

Virgin Money is calling on the Government to introduce acontribution-matching scheme to encourage the take-up of savingsproducts among low-income groups.It is calling for a means-tested scheme that would see the Governmentmatching savers contributions pound for pound up to a limit of£500.Virgin is also calling for the Government to stop promoting cautiousmanaged funds within the Sandler […]

Fitzgerald retires from Royal London

Royal London&#39s sales director Barry Fitzgerald is to retire after more than 30 years with the mutual life insurer. Fitzgerald joined Royal London in Colchester in 1972, holding several senior appointments in the sales department before joining the board in 1997 as sales and marketing director. His sales role is to be split, with Chris […]

Standard Life property fund makes two more European acquisitions

Standard Life&#39s European Property Growth Fund (EPGF has made two more acquisitions in Lisbon and Paris. Both buildings will form part of the EPGF, which invests in office, retail and distribution companies in continental Europe.

TrustNet first with database of multi-manager UK funds

Fund information company TrustNet is rolling out what it believes isthe first database of all UK multi-manager funds, including managerof manager products.The database will include daily fund prices and comparative tables,cumulative and discrete performance statistics, fund performancecharts, fund factsheets and multi-manager fund news.To differentiate between investment strategies, the funds, inconjunction with fund data house Financial […]

Creating opportunity out of change

By Denise Wond, marketing manager The buy-to-let market has recently been the subject of a raft of tax changes, all of which make it a less profitable and less appealing proposition for investors. In response, we’ve seen a dip in demand for BTL mortgages and that’s bad news for many advisers who will now be looking […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment