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Symponia says bonds have a place in long-term care

Long-term care specialist Symponia has defended the use of investment bonds to fund LTC following the FSA fining HSBC £10.5m for misselling the products to elderly customers.

Symponia joint founder and director Janet Davies says consumers should be aware that investment bonds can be a tax-efficient way of generating income. She says: “The fine against HSBC is the first time that care fee advice has been tarnished with misselling and we sympathise with the families involved but it is important that bonds are not vilified, as how they are applied is critical.”

Care Fees Investment managing director Andrew Dixon-Smith says: “There are examples where an investment bond can be appropriate but it is very much dependent on the life expectancy of the individual.”


Statutory residence test rules delayed until 2013

The Government has delayed plans to introduce a statutory residence test until April 2013. The Treasury announced in June it was consulting on a statutory residency test to resolve uncertainty around what constitutes non-dom status which it had planned to bring in as part of the Finance Bill 2012. A ministerial statement issued today says: “The […]


Standard Life accused over ‘win an iPad 2’ IFA client letter

Standard Life has been accused of attempting to take direct business from IFAs through a client letter mailshot. A letter sent directly to Standard Life customers says they could win an iPad 2 by filling out two pages of personal details. On the final page, the provider asks the client to fill out the name […]

Roger Bootle: OBR projections too unreliable to base policy on

Economic turbulence is making forecasting so difficult for the Office for Budget Responsibility that its projections are too unreliable to base Government policy on, according to Capital Economics managing director Roger Bootle. Giving evidence to the Treasury select committee yesterday afternoon, Bootle admitted Capital Economics forecasts, despite being among the gloomiest, had not been gloomy enough. […]

Neptune appoints assistant manager for income fund

Neptune Investment Managers has appointed George Boyd-Bowman as assistant manager on the Neptune Income fund. Neptune chief executive Robin Geffen says: “I have just added Boyd-Bowman to the list of assistant fund managers on this fund.” Boyd-Bowman joins lead manager Alex Breese and deputy manager Emma Stanford on the fund.

Spring has sprung

Well, it’s been lovely to see a little bit of sunshine, even if it was only a brief appearance. I live in Scotland so, believe me, it was very brief.  Of course, with even the tiniest hint of spring, thoughts turn to the inevitable clearout that must take place.  And that got me to thinking […]


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