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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The FCA is reviewing the market for preference shares following the furore over Aviva’s recent decision to cancel its high-yielding preference shares at par value. FCA chief executive Andrew Bailey says in a Dear CEO letter that the regulator is reviewing the prevailing market for certain fixed income shares, particularly those classed as perpetual, irredeemable […]
Five years on from the RDR, and the independent vs restricted debate still holds an exalted position in the market. Significant swathes remain fiercely evangelical in their belief that independence is a pipe dream, or that restricted is a recipe for disgraceful shoehorning. Many of these people are unmoved by the dearth of conclusive evidence […]
Investment adviser Glass Lewis has joined Royal London in opposing the re-election of Metro Bank chairman Vernon Hill. Metro Bank is in the midst of a shareholder rebellion following findings that £4.6m in fees for architectural, banking and marketing services were paid to architect InterArch, run by Hill’s wife, Shirley. Royal London Asset Management holds […]