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Standard Life warns against windfall sizes

Standard Life has issued a warning to its 2.3m voting members that many of them will receive windfalls of hundreds not thousands of pounds if the company demutualises.

Carpetbagger Fred Woollard who is leading the conversion campaign has been saying that policy holders stand to gain payments of £5,000 to £6,000.

The warning from Standard Life is the first step in a major campaign by the life office to defend its pro-mutual status.

Standard Life group managing director Scott Bell says “The suggestion that policyholders will receive &#39average&#39 windfalls of up to £6,300 is extremely misleading. In reality, few policyholders would receive anything like that amount.”


Winterthur new loan firm set to shake up &#39cosy club&#39 of lenders

Winterthur is setting up a new company to shake up what it sees as the“cosy club” of high-street lenders.The new player, Promise, is also aiming to sideline brokers, who it claimsare often perceived as adding costs but not benefiting customers.Winterthur-owned Promise will sell mortgages over the phone and internetand plans to offer no frills mortgages […]

Taper chase

One of the biggest pieces of news in the Budget had to be the capitalgains tax reforms affecting business owners.The relaxation to the rules on CGT taper relief for disposals of businessinterests will be of tremendous interest to business owners and theiradvisers.The new taper relief for business assets reduces the period of ownershipafter which full […]

Goodfellows offers 20% protection commission

Specialist underwriting agency Goodfellows is offering a disabilityprotection package paying 20 per cent commission.Disability Safe aims to provide an “all needs covered” disability packagecovering accidental death, income protec- tion and permanent disability.Goodfellows says the 20 per cent commission level compares favourablywith equivalent products which pay 12 per cent.The company says Lloyd&#39s is underwriting the product […]

Abbey National launches online bank

Abbey National has joined the online banking market, launching its own internet based banking service.The bank hopes to attract one million customers to its service within a year, and five million over the next four years. It faces stiff competition in this goal, as many of its competitors have already gone online.Barclays has more than […]


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