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Survey reveals rise in regular UK savers

The number of regular UK savers has risen 5.5 per cent to 58 per cent in the last three months according to the latest Standard Life savings and investment index.

The quarterly survey for October also revealed that retirement had overtaken holidays as the single biggest reason to save for the first time since the survey began in July 2005.

It showed a 6 per cent rise since July, with holidays falling by 6 per cent over the same period.

Christmas was cited by 29 per cent as their biggest saving focus, a rise of 9 per cent since July.

Standard Life Assurance chief executive Trevor Matthews said: “It is encouraging that more people are saving and, of those who are, more are saving for their retirement.”

But he added: “It is worrying that only 33 per cent of those questioned are satisfied with the level of their retirement planning.”


Estimates rocket for interest-only loans

The true extent of the interest-only mortgage crisis looks to have been grossly underestimated after the FSA revealed that around 410,000 interest-only mortgages were sold last year alone, with no evidence of a repayment vehicle.FSA retail markets managing director Clive Briault has revealed that 19 per cent of 2.16 million new mortgages sold in 2005 […]

Bankhall tells advisers to ditch low-earners

Bankhall is telling members they could be better off ditching the bottom tier of their client base and focusing on their high-net-worth customers.It says bancassurers are increasingly hoovering up lower-earning clients and advisers should concentrate on ensuring they maintain the higher-earners.Bankhall marketing director Richard Howells says: “IFAs will start to deal increasingly with higher-earning clients […]

Standard bearer

Earlier in the year, Standard Life attracted criticism in some quarters over the transparency of its charging model.

GAM hard-closes four Green funds

GAM is hard-closing all four of its investment funds run by Andrew Green because of concerns that continued growth will be detrimental to his deep-value contrarian investment approach. The four include the 668m UK diversified and 724m global diversified funds, although the St James’ Place recovery and SJP Gam managed funds stay open.


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