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FundsNetwork head of sales and marketing Rob Fisher

“In principle, FundsNetwork is supportive of what Cofunds is saying. The ability to be able to advise clients to move their assets to where they want to have them is clearly an important thing. We are making progress on these areas. Slowly but surely, I think that regulation and rules are allowing a more open market.”

Skandia Life head of marketing Billy Mackay

“There are billions of pounds of bond assets out there that are perhaps not invested in a way that is in the best interests of the client. So if you give them the opportunity to at least consider moving the money without possible capital gains tax charges every time, then you give them greater freedom.”

Nucleus chief executive David Ferguson

“In the end, clients should be able to move their money wherever they want. You can move your bank account and your mobile phone account, but for some reason you cannot do it for your Isa or your assets around your pension. It is absolutely ludicrous.”

Financial Technology Research Centre director Ian McKenna

“You are talking about persuading the Treasury to radically alter decades, if not centuries, of established legislation. I am not saying there would not be some merit to doing it but I think it is a complicated process. If you were doing a transfer from one provider to another, all the information about when the investment was made, withdrawals taken and the customer’s tax position would also need to be transferred.”

Cofunds spokesman Richard Eats:

“We are positive that these changes can be made by HM Revenue and Customs as it is as much in its interest to make the move as it is for investors. If a bond is moved and makes more money when it is encashed, HMRC gets more tax.”


Protection providers should spend ten times more educating consumers says Baigrie

The protection gap will only close if providers commit at least ten times more turnover to educating consumers about their products according to Lifesearch managing director Tom Baigrie.Speaking at the Association of British Insurers conference on closing the protection gap today, Baigrie said providers currently spend less than 3 per cent of their turnover on […]

Out of Context

“I’m more than happy to ambush you all.”Compliance consultant Adam Samuel would do anything to hang out with the MM team “If you are not going to be clear and transparent when operating a wrap, then you may as well substitute the w in wrap for a c.”Seven Investment Management marketing director Justin Urquhart Stewart […]

Credit crunch is “real opportunity” for long-term investors, says F&C

F&C Investment Trust manager Jeremy Tigue says he has been increasing borrowings in the trust in order to hoover up cheap shares during the credit crunch.Tigue says the recent market turmoil has opened up some real opportunities for long-term investors. The £2.6bn investment trust’s gearing has increased from 5 per cent in June to 8 […]

Assureweb clinches deal for Bankhall quote system

Assureweb has tied up with Bankhall in a deal that will see it power Bankhall Online’s existing protection quote engine and new income protection service.The move follows Assureweb winning a contract to provide quotations and integration services for AWD. It is also in late-stage discussions about a similar partnership with True Potential.Assureweb will take on […]

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Guide: how to… audit your auto-enrolment scheme compliance

As the Pensions Regulator starts to bare its teeth and the changes mentioned in the Budget and Queen’s Speech start to come into force, it is essential that you understand your scheme and the processes you need to undertake to ensure it remains compliant. Our second re-enrolment guide looks at how to audit the key areas of your auto-enrolment scheme.


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