Syndicate Asset Management is seeking an Aim listing having raised 33m at 60p per share in pre-IPO financing. It has also bought advice and asset management business Ashcourt Holdings for 12.9m, conditional on its admission to Aim. Ashcourt was started in 1994 as the asset management division of a firm of solicitors while Syndicate is a strategic investment company seeking to build a fund management firm by consolidating a number of smaller fund management businesses.
Citizens Advice is calling on the Office of Fair Trading to investigate payment protection insurance, claiming it is bad value. The consumer organisation says the product, which produces annual revenues in excess of 5bn, is often highly expensive and excludes many of the most common situations that lead to debt problems. It claims that banks, […]
Life and protection rates are likely to rise in the aftermath of Hurricane Katrina, says Scottish Widows marketing director, protection, Nick Kirwan. He predicts that rates will inevitably be raised in the UK as well as the US, as reinsurers face a massive hit on capital and a reduction in capacity. Other insurers say they […]
Tesco Personal Finance has dropped its controversial link-up with Norwich Union as life and general insurance product provider, replacing it with Direct Line. In assessing the pitches of various providers, Tesco PF says NU was unable to provide the speed of processing and customer interfacing it requires to drive its business forward. NU attracted criticism […]
The polarisation of the fund management industry continues unabated. The middle ground is fast being vacated, as houses decide whether to opt for bulk and enjoy the benefits of greater distribution or alternatively follow the boutique route.
Just a quick post to alert our followers to the fact that the new Fit for Work service is – according to the rollout map – now available in all geographical areas of England and Wales.
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
The FCA scrutiny of the asset manager continues apace, with attention now turned to closet tracker funds. Following regulatory lessons and actions already seen in Scandinavia, it has ordered unnamed asset managers to pay out £34m in compensation to investors for overcharged fees. At least one group is facing enforcement action over “very misleading” marketing […]
The FCA has told advisers to make clients aware of their right to refer complaints to the The Pensions Ombudsman, not just the Financial Ombudsman Service. Currently, advisers must notify clients that they can complain to the FOS if they believe they have been miss-sold, but are not required to signpost TPO. While complaints over […]
Financial Services Compensation Scheme levies for the coming year will reflect the growth in claims from poorly advised defined benefit pension transfers, chief executive Mark Neale has said. In a blog published this morning Neale writes that the levies – to be published in April – will show the claims to do with pensions have […]