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Would you consider paying up to £3,000 to be considered for PI by Magian Mutual?

“No. I&#39ve had no problems getting cover in the past without having to pay.”

Graeme Nicholson, Graeme Nicholson Independent Financial Consultancy

“No, I wouldn&#39t be prepared to pay for that. Why would I pay £3,000 when I could just send off a request to an underwriter for free?”

Dale Manson, Edison Consulting

“No, when we&#39ve got PI already, why would we pay someone £3,000 to come in and look at our books just to do business with a mutual?”

Philip English, Roger Higgins & Partners

“Definitely not. I&#39d rather dig ditches.”

Mel Rhoades, Richard Subden Insurance Consultants

“Within this firm we have cover provided by our network but if we were directly regulated yes, I am sure we would consider it. I think many firms feel they only have a few options and are prepared to try anything to get cover even if this means paying to be assessed.”

Simon Hinsley,The Arden Court Group

“No. Paying just to find out if they will take you on is extortionate.”

Richard Dakin, Gold Financial Services

“No. You won&#39t find many IFAs who would do that.”

Ian Deans, Goldbergs

“I don&#39t think so. It&#39s unlikely that they would shave much off the premiums at the end of the day. Sesame dictates to us what PI provider to use.”

Terry Langston, Lifeline Independent Financial Advisers

Yes 12%

No 88%


£3bn wasted on mortgages says HSBC

UK homeowners are being charged almost £3 billion over the odds by lenders with high standard variable rates, says HSBC. The bank dropped its Home Buyer Mortgage variable rate to 4.49 per cent last week, and says that 7 out of the country’s top 10 lenders charge their customers at least £14,000 more than its […]

Providers wary over offshore pension trust claims

An offshore financial services firm is targeting IFAs with a pension trust vehicle that claims to avoid the need to buy an annuity, allows freedom to invest in residential property and chattels and permits loans from the scheme.Providers have referred details of FSL&#39s Protected Pension Trust to the Inland Revenue&#39s trust-busting team in Nottingham to […]

Savills launches three-year tracker

Savills Private Finance is launching a three year tracker mortgage for purchases and remortgages. The product tracks the Bank of England base rate plus 0.15 per cent for three years and then reverts to base rate plus 1 per cent for the life of the loan. The current pay rate is 3.65 per cent. Minimum […]

Naked truth about hot-air balloon

The Diary would like to warn its readers to beware what they do in the safety of their back yard as you just never know who might be watching from above.A hot-air balloon flight over Bristol last week organised by Clerical Medical showed a group of journalists some interesting West Country backyard behaviour.The lowlight of […]

Is this the endgame for the current mergers & acquisitions boom?

Last year, worldwide mergers and acquisitions (M&A) rose to an unprecedented $4.7tn, according to Thomson Reuters, a 41 per cent increase over 2014. Anthony Forcione, senior equity analyst at Loomis Sayles, an affiliate of Natixis Global Asset Management, looks at what’s been driving this particular wave of mergers. Click here to view full article: Loomis-Sayles


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