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Virgin Direct accuses industry of neglect

Virgin Direct is accusing the financial services industry of “institutionalised neglect of the customer”, and has called for the ‘son of Myners’ review to recommend legislative change to address the issue.

Virgin Direct is calling on son of Myners review chief Ron Sandler to introduce legislation to combat excess charges and commissions on Isas forced on consumers, which it says total over £1bn in the two years since Isas were introduced.

Virgin Direct head of corporate affairs Martin Campbell says: “The success of this review depends on two things: The level of co-operation from the industry during the investigation and the degree to which the industry is then prepared to change when the findings are announced.”


Misys IFA Services launches interactive mortgage website

Misys IFA Services has added a new interactive website to its Mortgage Connections loans service, which gives members access to information on lenders and products.The site at gives members of Countrywide, Financial Options, Kestrel and IFA Network, a list of lenders and products, details of mortgage related training and information on any special offers.The […]

Change in global trends

Investors should focus on all elements of risk and return in making investment decisions and not be swayed purely by country or sector factors, according to Schroders.The fund manager claims the recent re-emergence of country-specific factors in influencing risk and return predictions is making it essential for investors to take all potential impact factors into […]

A Consumer&#39s View

As the economy slows, new business drops off and profit margins are squeezed by the 1 per cent stakeholder regime, financial services companies would do well to heed a warning from FSA chairman Howard Davies.Somewhat late in the day, the FSA is getting tough with institutions over their poor administration. “Of course, costs must be […]

Misys buys DBS in £75m deal

The largest IFA network Misys has reached an agreement to buy rival network DBS Management valued at £75m with the acceptance of DBS directors.This offer represents Misys paying 150 pence in cash for each DBS share and a premium of about 105 per cent to the closing market price of 73 pence for each share […]

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Preparing for the changes to the pensions market

As more and more providers start to reveal their stance on the charge cap and removal of commission and active member discount pricing, we thought it would be worthwhile to look at what these are, and the steps businesses should be taking to prepare for this.


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