Tenet is redesigning its application forms so clients can buy both mortgage and protection products by filling in a single form. The firm says it wants to encourage IFAs to write business from areas which they may be not be focusing on.Chief executive Simon Hudson says he is also concerned that advisers writing mortgage business but not recommending building and contents cover could be held liable if their client’s house burns down soon after completion. Hudson says the UK is massively underinsured despite the huge commission available on many protection products. He says: “At the moment, IFAs have to go on to each providers’ extranet and download the forms separately. “In combining the two this should reduce the time taken and ensure a consistent approach regardless of which provider you are writing business with.” The new forms will be produced by Tenet’s protection support service provider Premier and will be available from next year.
The FSA has publicly censured GD Tancred Financial Services Limited for failing to clearly outline the risks of income withdrawal to customers with pension pots of less than £100,000.
Norwich Union paid out over 80m for claims on critical-illness policies last year, representing an increase of 23 per cent on claims paid in 2004. The declinature rate was 23 per cent, with 12 per cent of claims turned down due to non-disclosure and 11 per cent due to policy conditions not being met. The […]
Industry veteran Bill Mott is set to retire from Credit Suisse at the end of the month.The widely respected Mott used to lead manage the group’s flaghip income fund in the mid 1990s before leaving the group in 1997 only to return to the fund in 2000.He famously sold all the technology stocks in the […]
This week sees me making my annual pilgrimage to the West Country. I always find these trips useful in helping to put some perspective on the investment world.
A period of exceptional uncertainty started last Friday for the UK, including a fierce leadership battle in a deeply divided Conservative party, the timing of the trigger of the EU’s Article 50, as well as a potential referendum in Scotland, and Northern Ireland. Click here to read the full article
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The Financial Services Compensation Scheme has declared self-invested personal pension operators Stadia Trustees, Brooklands Trustees and Montpelier Pension Administration Services in default. The lifeboat fund has received around 150 claims for compensation relating to the three businesses. Those claims relate to how the businesses set up, operated and administered Sipps through which people invested in […]
The Department for Work and Pensions has confirmed it will not change the pensions triple lock and will explore bolstering the powers of The Pensions Regulator in the forthcoming legislative period. The DWP published its “single departmental plan” yesterday, which sets out five objectives it is working towards over the next four years. It has […]
Sam Seaton talks about how her interest in people affects her approach to technology