View more on these topics

Widows cuts reversionary bonuses

Scottish Widows has cut reversionary bonuses on unitised with-profits contracts by 0.5 per cent and terminal bonuses by up to 6 per cent. Reversionary bonuses have not been reduced since January 1999.

ScotWids says the cuts are the result of falling stockmarkets. Contracts written prior to 1998 will receive a cut in terminal bonus of up to 6 per cent.

Contracts after 1998 will receive lower cuts based on individual terms. ScotWids is not currently applying an MVA but has not ruled it out for the future.


Independent view by Peter Hargreaves

Once upon a time, there was a very respectable firm of insurance brokerscalled Hogg Robinson. Like all insurance brokers, it had a life and pensionarm which was known as Advizas. But, for whatever reason, Hogg Robinsondecided it did not like life and pensions and put Advizas up for sale. Along came a publiclyquoted company which […]

It&#39s all or nothing for polarisation

A Treasury official has told the financial services industry that changesto polarisation will be all or nothing, saying the only two options are thestatus quo or scrapping the existing regime. Questioned at a London conference this week, Treasury policy adviser KeithDavis told delegates: “There are two options – to go no further withchanges or wholesale […]

Staffordshire steps out with new mortgage

Staffordshire Building Society is stepping out with the introduction of the two-year step discount mortgage.With a discount of 3 per cent in the first year and 2 per cent in the second year for loans of up to 90 per cent of valuation, this gives it a payable rate of 3.74 per cent in the […]

Credit Suisse AM launches boutique fund of funds

Credit Suisse Asset Management Funds UK is launching a fund of boutique-style funds directly marketed at IFAs and investors.The Credit Suisse Multi Manager Constellation Portfolio aims to give investors access to talented fund managers who have left mainstream investment houses as well as smaller funds less constrained by benchmarks.CSAM director Robert Burdett says: “With less […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm