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Swiss Re sees role for CAB

Citizens&#39 Advice Bureaux should give independent financial advice from a league of retired financial services personnel, says Swiss Re&#39s response to the Sandler review.

It says market consolidation in financial services has resulted in employees with many years of service and experience retiring and the firm feels that many of these people could play a useful role in explaining basic needs to consumers.

Aifa director general Paul Smee says: “One must look at every opportunity to extent the reach of advice. But funding, up to date knowledge and motivation are key.

“IFAs do at present give advice across the economic range but the cost of giving advice has risen. There is a role for the voluntary sector but this should be kept separate from the main issue.”

A National Citizens&#39 Advice Bureaux spokeswoman says: “We are looking at ways of dealing with financial literacy for all the people who come to CAB for money advice.”



Should the Government provide funds to ensure the public have access to independent financial advice, as the LibDems are suggesting?“No. If they have that sort of money to spend, then spend it on hospitals.”John Hughes, Risca Insurance Consultants“Yes. They should for anyone taking a stake-holder pension but apart from that, no.”Martin Evans, Rimmer & May“No, […]

Matrix Securities – Unicorn AiM VCT

Thursday, 4 October 2001. Aim: Income by investing initially in cash, quoted UK smallercompanies then AiM-listed companies.Minimum investment: Lump sum £2,500.Opening-closing date: October 2, 2001-November 15, 2001.Charges: Initial 5.5 per cent, annua 2 per cent. Special offer: Higher allocation if commission reduced.Offer period: Until November 15, 2001.Commission: Initial 2.25 per cent, renewal 0.375 per cent.Tel: […]

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Old Mutual unveils new multi-manager platform

Old Mutual this week finally revealed the name and charging structure of its new multi-manager platform, formerly codenamed Project Mars.The new platform, to be called Selestia, is set to start next month and will initially offer more than 150 funds from 24 providers.Initial charge is 5 per cent although clients will also have the option […]


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