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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.”

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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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