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Treasury shows willingness to listen on 1 per cent says ABI

The ABI has welcomed the Treasury&#39s willingness to consult on the 1 per cent cap revealed in its proposals for Sandler products.
It has also welcomed the decision to treat the existing stakeholder pension as part of the Sandler package rather than create two types of simple pension product.

The ABI says the Treasury proposals open the door to a realistic partnership between Government and the savings industry to opening up saving.

ABI head of life and pensions Alan Woods says: “This document shows the Government is willing to listen. We are pleased they are opening up the question of price capping for debate and have agreed to commission independent research. A 1 per cent price cap would prevent these savings products reaching many people in the Government&#39s target group.”


Norwich Union praises Government for Sandler suite announcement

Norwich Union has responded enthusiastically to the Government&#39s decision to reconsider the price cap on the stakeholder suite of products. It believes if the price cap is lifted the products will have stronger backing from providers and a greater chance of success with the public. NU has also welcomed the endorsement of the with-profits concept […]

Name change for Namba in bid to attract loan advisers

The National Association of Mortgage Brokers and Advisers is renaming itself the Association of Mortgage Intermediaries. The name change follows Namba&#39s alliance with the Association of IFAs last August. It has also secured funding from the Council of Mortgage Lenders and the backing of the Intermediary Mortgage Lenders&#39 Association for the first time this week […]

TrustNet white labels internet tool

UK fund information specialist TrustNet is launching a white-label version of its internet tool to provide IFAs with an own-brand in-house research capability. IFAs will be able to use TrustNetPro – comprising standard daily price and performance databases on pension, life and investment funds – in the form of an in-house tool, a client-facing website […]

Laundering laugh that&#39s no joke

I am an IFA and, under money-laundering regulations, I am obliged, even when transacting a £10 a month insurance or savings scheme, to see, for example, a passport and a council tax bill (or similar documents) as evidence of identity, etc. I am required to record the details and to fill in a form for […]


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