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Will there be an exodus of policyholders from Equitable Life now that the life office has won its compromise deal?

“Yes, a significant number. I think a number of the bigger group schemes will move away as the overall financial strength of the life office is called into question.” Graham Hume, Beechwood Financial Services

“No. I think a lot of people are probably gone already and I think a good number of Equitable policyholders will stick through until the end in hope.” Stephen Eames, Beltinge IFA

“No, not necessarily. Some people are locked in to all sorts of odd tie-ins.” David Josephs, Crompton & Sherling

“Yes. People will just take what is being offered and run.” Gary Perlmutter, Creeger Financial

“Yes. I think people are anxious to get themselves sorted out. People are going to want to get out as quick as they can.” John Burnard, New Life Financial Planning

“Yes. I think they will have reached the end of their frustration point. Now there is some sort of resolution, I think they will want to look for stability elsewhere.” Dale Manson, Edison Consulting

“I suspect so because, once people have been paid out, they will look to get better value elsewhere because that fund will continue to underperform.” Rod Philpott, Philpott Financial Services

“I suspect there will still be people who want to come out because they will suspect that performance will not be quite so good in the future.” John Pidgeon, Sole trader

yes 75%

no 25%


New FSA Head of Insurance

The director of regulation at Lloyd’s of London has been appointed as the FSA’s new director of insurance firms division. David Gittings takes on the new role as April 1, 2002. Martin Roberts, the FSA’s present insurance firms director and former civil servant, is to become a senior adviser with particular focus on international insurance […]

Liverpool Victoria revises annuity

Liverpool Victoria Friendly Society has redesigned its with-profits pension annuity to allow annuity transfers under the open market option. The open market option refers to annuitants being able to shop around for an annuity rather than staying with their existing pension provider. The previous version of Liverpool Victoria&#39s with profits pension annuity did not support […]

Market falls prune UK millionaires

The number of millionaires in the UK fell last year as the stockmarkets tumbled.A new report by Data-monitor shows the number of people with more than £1m in liquid assets was down by 1.4 per cent in 2001 at 68,700, from 69,600 in 2000.High-net-worth individuals who had earned their wealth, as opposed to those who […]

Mellon – Ethical Tracker Fund

Tuesday, February 5, 2002.Type: Ucits.Aim: Growth by tracking the ethical index Euro.Minimum investment: Euros 5,000.Place of registration: Dublin.Investment split: 100 per cent tracking the ethical indexEuro.Isa link: No.Charges: Initial up to 4 per cent, annual A shares 1 per cent.Commission: Initial 3 per cent, renewal subject to negotiation.Tel: 0845 6001383.


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