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“Yes. The one per cent regime will enable banks to work out ways to sell

that are more cost-effective than traditional methods.”

Kim Barrett, KS Barrett & Associates

“Quite possibly. The bancassurers will project themselves as the boys to

be with, offering the whole market, when in fact they won&#39t be.”

Richard Millen, Wealden (South) IFA

“No. IFAs will have to adapt to the changing market”

Simon Funnell, Quest Financial Services

“Yes. They have a captive audience. Bancassurers are our biggest

competition anyway and this would give them more flexibility.”

Garry Spencer, Wilbury Financial Management

“No. The clients of banks appreciate the benefits of independent advice as

opposed to the mish-mash alternative situation.”

Graham Hislop, CMB Financial Services

“No not really. In the market we go for, which is the top end, I don&#39t

think the banks are able to compete.”

David Bowler, FPC Financial Services

“Yes, of course. You&#39ll get people selling their own products, whilst

purporting to give an overview of the whole market.”

David Lane, Lane Financial Management

“No. They have no advantage over IFAs if the numbers stay as they are.”

Mark Horsey, Professions & Partnerships

yes 50%

no 50%


Free loan cover from Leeds & Holbeck

Leeds & Holbeck is offering free mortgage payment protection insurance onall new mortgages from this week. Cover is provided against sick-ness,accident, unemployment or hospitalisation. The offer is for£154.14-worth of cover over six months on a 20-year £60,000capital and interest mortgage at its standard variable rate.

L&G interim results show life and pensions up 30 per cent

Legal & General’s half year results show life and pensions sales are up by 30 per cent to £266m from £205m EPI on last year.The life office also revealed its plans to establish more partnerships along the lines of its Barclays, Woolwich and Alliance & Leicester tie-ups.Individual pension sales were up 15 per cent to […]

Pru interim profits boost

Prudential announced an increase in interim profits of 16 per cent to £677m in the first six months of 2001.UK sales increased by 10 per cent to £427m on an annual premium equivalent basis, as the benefits of the restructuring of the direct sales force started to be felt.Group sales increased 43 per cent to […]

Rise in IFA business lifts gloom at Misys

The 19 per cent organic growth rate achieved by Misys&#39 IFA business in thelast year helped make it the company&#39s best performing sector. But despite the success of the financial services division, Misys&#39 shareprice plummeted from 532p to 308p following the announcement of its annualresults last week. The figures came on the back of poor […]

Inheritance tax and estate planning – exemptions and reliefs

By Kim Jarvis, technical manager with Canada Life’s ican Technical Services Team In this article we look at the main exemptions and reliefs that are available on death. Within the article, spouse also means civil partner.   Nil-rate band Under current rules, any part of the estate that falls within the available nil-rate band (NRB), […]


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