T Bailey fund manager Jason Britton went back to school recently giving pupils lessons on how to look after their money wisely. Britton avoided the temptation to tell the kids to lump into T Bailey funds, avoiding the wrath of the FSA, but he could yet fall foul of the Jamie Oliver Authority after reportedly handing out sweets at the end of the session.
threesixty has produced a new guide to wraps to help IFAs assess which platforms to choose. The guide is broken down into sections dealing with how wraps can benefit intermediarie, how wraps can benefit clients, common pitfalls to avoid when using wraps, how to position wrap with your clients, including questions around independence and the […]
Is the FSA doing enough to clamp down on PPI misselling?Yes 45%No 55%Yes “Hopefully it is but you can never be sure. We tend to sell a lot of protection on most of the mortgages we do.”Glenn Malcolm, IFA Financial Services No “I do a lot of mortgages and I do not have a high […]
Lehman Brothers has appointed former RBS stalwart Louis Kaszczak as its intermediary business development executive. Kaszczak, who quit as head of corporate distribution at RBS Intermediary Partners last October, will work across Lehman’s three mortgage brands London Mortgage Company, South Pacific Mortgage Limited and Preferred. Lehman chief executive Simon Hinshelwood says: “I would like to […]
WH Smith’s plans to close its final-salary pension scheme for future accrual have angered trade unions.Around 1,800 shop and office staff will be transferred into the money-purchase scheme along with 700 distribution workers at Smiths News, formerly part of WH Smith Group.The two firms have written to employees proposing the changes and pledged to honour […]
With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.
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Another investment manager offering enterprise investment schemes has alerted clients of a 10 per cent drop in value for one of its portfolios following new Mifid rules. Mifid II, which came into force on 3 January, requires firms to notify clients when the overall value of their portfolio, relative to its value at the beginning of each reporting […]
The recent enquiry by the work and pensions select committee has reignited the debate about the future of collective defined contribution schemes. Whether these sort of schemes can be incorporated into the current UK pensions landscape is a moot point. Let’s consider some of the arguments for and against CDC. First of all, it is […]
Retirement interest-only mortgages are set to become more popular following the FCA removing hurdles to selling them. The regulator sees RIO mortgages as a possible aid to the waves of maturing interest-only loans with no repayment strategy. However, the FCA also wants RIO mortgages to be sold more widely, for example as an additional option […]