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Urgent call to lower MVAs

With the resurgence of the markets, it would be reasonable to expect MVAs levied on with-profit bonds to be shrinking rapidly.

Alas, this does not seem to be the case and I have seen some MVAs increase this year.

Add to this calls from the press for a with-profits bond sales review and encouraging readers to lodge missale complaints, you would have thought that heading off this potential banana skin would be more of a priority.

Does this lack of urgency by providers to reduce their MVAs and avert complaints have anything to do with the lack of liability on their part for redress? I would have expected the bulk of this class of business to have been introduced as opposed to being directly sold by a tied salesforce.

Alan ParkinsonCPD Independent Financial Advisers, Liverpool


BCWA backs networking WFG dinners

BCWA Healthcare is teaming up with the Womens’ Financial Adviser Group to launch a series of networking dinners for members. BCWA will sponsor dinn- ers at top restaurants around the country. Quarterly events will run in Reading, Bristol, Manchester, York, Birmingham and London. Other events will be held in Cardiff, Cheltenham, Manchester, Edinburgh, Glasgow, Cambridge, […]

Women’s pensions penalised

How do we penalise women’s pensions? Let me count the number of ways:1: Designed for another era2: Ten-year rule3: Part-time work and low pay4: Home responsibility protection inadequate5: Tax relief6: Occupational pensions7: Pension credit8: Contracting out9: Annuities10: Reliance on husband’s pensionThe idea of a citizen’s pension, earned in their own right, by everyone who lives […]

Nationwide goes top of press league

Nationwide Building Society got more positive media coverage in July than any other pro-vider, knocking Halifax off the top spot in the latest Presswatch analysis of the financial services sector. Industry pundits and journalists praised the society for its standard variable-rate mortgage which was deemed one of the best in the industry. Nationwide also got […]

Ex-burglar arming Zurich with ways to curb holiday crime

Zurich has hired an ex-burglar to advise its home insurance policyholders on how to avoid their properties being crowbarred by thieves when they are on holiday. Bob Turney, a reformed alcoholic and ex-drug addict who has served time for bur-glary and armed robbery, now works as a part-time consultant for the Probation Service. He is […]


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