United Assurance has appointed Alfonso Pacitti as its supplies and services director.
His responsibilities include all aspects of the group's procurement and outsourcing.
Pacitti joins the life office from IBM UK where duties have included the design and delivery of outsourcing services for IBM's insurance clients in the UK and the Netherlands.
He will report to group insurance director Bill McDonald.
The Personal Investment Authority has fined Sussex IFA Horsham Financial Services £15,000 for compliance failings over its pensions review.The disciplinary action was taken after the firm failed to take reasonable steps to carry out a review of its previous pension transfers and opt-out business and maintain adequate records of its pensions review.
Investec Bank (UK) has launched two cash Isa accounts which pay IFAs 0.5 per cent commission.The Premier Tessa-Isa is available for investors transferring the balances of their matured Tessa's, while the Premier Cash-Isa is for new savers.Both Isas pay a current variable rate of 6 per cent. Interest can be paid either on a monthly […]
Friends Ivory & Sime has launched a socially responsible investment service in response to the Government's ethical pensions regulations.The Responsible Engagement Overlay is designed to fit the new regulations from the Government requiring pensions funds to state to what extent social, ethical and environmental considerations have been taken into account in the investment process.The REO […]
The Personal Investment Authority has terminated the membership of Waverley Unit Trust Management.The termination followed a resolution for the firm based in Mount Street London to be wound up.The firm will no longer be authorised to conduct investment business regulated by the PIA.
By Fiona Tait, pensions specialist The chancellor’s announcement of proposed cuts to the Money Purchase Annual Allowance means it will be more important than ever to be able to tell your PCLS from your UFPLS What was in the statement? Not much. The chancellor spared three sentences to inform us that the Money Purchase Annual Allowance will be reduced […]
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It is likely the increased regulatory scrutiny on fund managers’ value could filter down to advice firms in the future In my last article, I considered the influence a non-executive director could have in challenging an advice firm’s business model in light of the pension transfer issues. Now, in its asset management market study final […]
The financial services industry has failed to find ways of nudging consumers to think about their options at retirement, despite three years of pension freedoms. A panel at the Association of British Insurers retirement conference today lamented the way companies talk to people about pensions and the lack of engagement it inspires. ABI director general […]
The new chief executive of the single financial guidance body can expect a salary of £175,000 a year, according to a job advert posted online. The advert, posted on the Cabinet Office website says applications will close in mid-May with final interviews held in early July. The date for announcing the successful candidate has not […]