Norwich Union is understood to be the only major insurance company which has failed to meet the FSA’s new product sales data requirements.From July 28, providers are required to provide information on whether products were sold on an advised or non-advised basis but NU will miss this deadline as its systems are unable to strip out this data. The firm has told the FSA about its systems problems and will not be penalised. The data will be used for the FSA quarterly product sales data report to help the regulator monitor market trends. NU head of compliance oper- ations Iain Glen says: “We had hoped the FSA would allow us to use assumptions. The FSA and IFAs are aware of the issues we have had with this.”
Safe Home Income Plan members wrote £262.8m worth of equity-release business in the second quarter, a fall of 5.8 per cent on Q1 but 0.75 per cent up on Q2 2005.
One of the first lessons all journalists learn at the start of their careers is that any official report can be interpreted in diametrically opposite ways, depending on the person reading it.
Webline has announced a 250,000 investment in new developments for the portal as a result of adviser feedback.The selected enhancements will provide advisers with additional more advanced comparison facilities to provide a better service to the client and offer more opportunity to up-sell products.The other main area of development focuses on providing additional management information […]
First time buyers will face a potential shortfall of over 5,000 each, despite planning to spend two years saving for their deposit, according to Alliance & Leicester.The A&L mortgages study found FTBs want to save a deposit of 11,710, about eight per cent of the average first time buyer house price. However, when it comes […]
Rob Burnett, Head of European equities at Neptune Many commentators have suggested that the UK’s exit from the European Union will trigger a domino effect, leading to its eventual break-up. Is this likely and what is the mechanism for this to happen, asks Rob Burnett, Manager of the Neptune European Opportunities Fund. Read more: https://www.realworldinvestors.com/Posts/Read/1371/Frexit_and_contagion_risk_in_Europe […]
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Royal Bank of Scotland has joined rivals like HSBC in launching an automated investment advice service for more than five million customers. The bank claims to be the first bank in the UK to launch a “fully regulated” robo-advice service, which will be under its NatWest brand. The service, live from Monday, is targeted at […]
There is nearly £8.5bn in “drifted” legacy UK equity income funds that have underperformed against the sector over the past decade, research has found. As the fund management industry awaits Mifid II next year, Morningstar has analysed the competitive UK Equity Income sector on behalf of Money Marketing and found about 10 per cent of the sector’s […]
Old Mutual Global Investors has appointed Freddie Woolfe head of responsible investment and stewardship, reporting into chief executive Richard Buxton. Woolfe joins from Newton Investment Management, where he was a responsible investment analyst primarily covering the healthcare and technology, media and telecommunications sectors. Previously he held roles at Hermes Equity Ownership Services and HSBC. Woolfe will […]