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Are life office cuts in with-profits bonus rates justified?

“I think they probably are. The bonus rates have got to reflect the overall performance so I would have expected them to be lower.” Gordon Walker, Sole trader

“Yes. With the investment returns we have seen in the last few years, I do not see how they could maintain bonus rates.” Colin Eyre Pygmalion Fund Managers

“Yes, I think they are probably justified. They are a prudent action given the downturn in market conditions.” Robert Hamer, Robert Hamer Financial Management

“No, certainly not for the top providers who have performed well over the long term.” Stuart Pedersen, Rush Witt & Wilson Mortgages Direct

“Yes. Given today&#39s climate of economic conditions, it makes sense to cut the bonus rates.”John Winship, Old School Financial Services

“Yes. Given the state of the market, I am not surprised they are making cuts so I would say they probably are justified.” Brian Passman, Directors Independent Financial Advisers

“Yes. This time, the markets have been down for the last couple of years. It was when they cut them in the past when the markets were on their way up that I had a problem with.” Andrew Forrest, Key Financial Services

“No, definitely not. They have reduced commission rates so they should be able to keep up their profit margin. They are all accumulating reserves to guard against any backlash from Equitable Life.” William Law, Law & CO Financial Services

yes 75%

no 25%


Fund supermarket providers divided on change

Fund manager Fidelity has given the FSA plans for polarisation a qualified welcome although it plans to make a full response later when it has examined the proposals in detail.Fidelity executive directive of UK wholesale Robin Threadgold says: “We broadly welcome the philosophy of broadening consumer choice and the availability of advice.” But recently set […]

Equity-release code is more important than ever, says King

The delay in bringing mortgages under the regulatory wing of the FSA has highlighted the importance of the code used to maintain standards in the equity-release market, according to its trade body.The newly appointed chairman of Safe Home Income Plans, Jon King, says the Ship code is more important than ever after the delay to […]

Home on the range

Schroders is giving access to a broad range of UK companies within its UK select Isa. The Isa will invest 50 per cent in the Schroder UK equity fund, 30 per cent in the Schroder UK mid-250 fund and 20 per cent in the Schroder UK smaller companies fund.The UK equity fund invests in big, […]

Ownership move by Brain sparks competition fears

Mortgage Brain&#39s move to hand its ownership to a limited number of lenders has stoked fears that it could restrict competition in the market.The platform, which is also set to announce its new chief executive in “days or weeks rather than months”, says in two years the consortium of lenders will own 100 per cent […]

Partied out and penniless

December has left me destitute. My piggy bank lies broken and empty, my lunchtime meal deal feels like an extravagant expense and I’m down to the Bountys in my box of Celebrations. But I won’t mourn my dearly departed pennies. Between buying gifts for loved ones (then deciding to keep them for myself) to treating […]


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