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Thinc reviews multi-tie model

Multi-tied network Thinc has confirmed that it is reconsidering its distribution strategy in light of the retail distribution review.

Propositions director Jon Everill says the firm will make a decision later this year and one of the outcomes could be to abandon its multi-tie model but he insists it has no definite plans. This comes as the group was fined £900,000 last week for sub-prime mortgage record-keeping failings.

Everill says Thinc is not worried about the RDR but says he expects that all multi-tied networks will review their model.

He says: “I would hope that everyone would look at their model as a matter of course. We do regular reviews of how we operate to make sure it is right commercially for us.

“We are reviewing our strategy based on what is going on in the market. We are in a period of discussion and analysis. We are not prepared to say what the outcome will be as nothing is concrete. We would like to be in a position later this year to make an announcement.”


Tim Eadon quits PFS

Personal Finance Society chief executive Tim Eadon has resigned from his post in order to pursue “other interests in the financial services sector”.

India Election Update

What a difference six months makes. Speaking in September last year, we had warned of ‘excessive pessimism’ afflicting the market’s perception of India. Since then, responsible central bank policy from the Reserve Bank of India (RBI), alongside improving global growth, has meant that India’s macro environment is strengthening quickly. The current account deficit has shrunk, inflation is falling and the government has embarked on a heavy dose of much needed fiscal consolidation. As a result, the rupee has been one of the strongest global currencies this year while the market has touched all-time highs, rallying by more than 20 per cent (GBP) since September. This begs the question: are we now in a period of ‘irrational exuberance’? Not yet.


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