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Twenty firms declared in default

The Financial Services Compensation Scheme has declared 20 IFA firms in default and is urging consumers who feel they are due redress to make a claim. Full details of the firms and how to make a compensation claim are on the FSCS&#39s website.

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•”I&#39ve been Bob the builder for the past few months but I can&#39t sell my house so I&#39m having to move into it.” -M2 Financial&#39s Mark Howard.•”I have never had the desire to fondle a waxwork.” – Whitechurch Securities chairman Kean Seager on colleague Ian McIvor&#39s fondness for Kylie&#39s Madame Tussauds double.•”I was like a […]

MLP fined £100k for pension and endowment sales failings

German IFA giant MLP&#39s foray into the UK market suffered a setback last week when its London subsidiary was fined £100,000 for regulatory failings.The FSA slapped the fine on MLP Private Finance, citing weaknesses in the training, monitoring and supervision of its investment staff which led to inappropriate sales of mortgage endowments and pensions between […]

Renewal rebate from Chartwell

Investors with Chartwell Investment Management are to get a cash boost this month with the company rebating half of its renewal commission. Chartwell clients or investors who transfer Isas, Peps or unit trusts to the company free of charge get the renewal rebate every March and September. Information packs on the cashback plan can be […]

Tory MP&#39s bill call for annuity reform

Conservative MP Edward Garnier will table a Private Member&#39s Bill this week aimed at reforming the annuity regime. He is calling for all pensioners to buy an annuity by 65 but only big enough for their basic needs and have freedom to spend the rest of their pension pot as they wish.

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