Scottish Widows has submitted its application for registration as a stakeholder pension scheme with the Pensions Scheme Office. It has also submitted an application for provider status to the FSA.
Nationwide is promoting its online banking service by offering members discounts on home PCs.Members can get 7 per cent off the price of a new PC from Dan Technology. If they buy the computer with a Nationwide credit card, they can also get six months' interest-free credit. There is a further £20.64 discount on Dan's […]
Shares in software firm Autonomy began trading this week on the London Stock Exchange at £32.76. The shares climbed to £34.90 valuing the company at over £4bn which could be enough to enter the FTSE 100 index if this level is sustained until the next adjustment is due in early December. Autonomy provides the software […]
Standard Life is axing conventional clawback under its new mono-charging group personal pension contract.IFAs believe the move will be copied by other providers in the fight for the IFA channel.Under Standard's recently announced single-charging structure, IFAs will only be stung by clawback of commission if the entire fund is transferred within the first three years.Traditionally, […]
Amvescap, the US fund manager and owner of Invesco, has bought Perpetual for £1.05bn after almost six months of stop-start talks.The acquisition has had mixed reactions from IFAs, with some concerned that the deal will lead to an exodus of senior fund managers.The two companies have similar funds in 14 sectors, opening the door for […]
The Department for Work and Pensions (DWP) has recently published new research, which once again demonstrates how the prospect of retirement is changing for older workers.
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Royal Bank of Scotland has joined rivals like HSBC in launching an automated investment advice service for more than five million customers. The bank claims to be the first bank in the UK to launch a “fully regulated” robo-advice service, which will be under its NatWest brand. The service, live from Monday, is targeted at […]
There is nearly £8.5bn in “drifted” legacy UK equity income funds that have underperformed against the sector over the past decade, research has found. As the fund management industry awaits Mifid II next year, Morningstar has analysed the competitive UK Equity Income sector on behalf of Money Marketing and found about 10 per cent of the sector’s […]
Old Mutual Global Investors has appointed Freddie Woolfe head of responsible investment and stewardship, reporting into chief executive Richard Buxton. Woolfe joins from Newton Investment Management, where he was a responsible investment analyst primarily covering the healthcare and technology, media and telecommunications sectors. Previously he held roles at Hermes Equity Ownership Services and HSBC. Woolfe will […]