FTAdviser.com

A&L repeatedly defended inappropriate PPI

Story by: James Redgrave, Financial Adviser

Alliance & Leicester continued defending its now discredited payment protection insurance sales practices during the period the bank was guilty of "inappropriate" techniques, Financial Adviser can reveal.

• Time published: 00:01
• Date published: 16.10.2008
• Published in: Insurance

Euro committee comes to insurers risk accord

The Economic Committee in the European Parliament has voted to agree a text to ensure lower risk of insurance company failure.

• Date published: 16.10.2008

Homeowners use of debt management is up

The number of homeowners needing debt management plans has increased by more than 100 per cent according to EuroDebt.

• Date published: 16.10.2008

Trio head for BDP Stoy Hayward's fund of fund division

BDO Stoy Hayward Investment Management has announced three new senior additions to its funds of funds team.

• Date published: 16.10.2008

Protected rights switch gets the thumbs up from Brewin Dolphin

Brewin Dolphin has welcomed the new protected rights legislation, which came into effect on 1 October.

• Date published: 16.10.2008

Mortgage-1 strikes deal with SimplyBiz Mortgages

Leicester-based mortgage packager Mortgage-1 has secured a deal to be the sole nominated packager for SimplyBiz Mortgages for at least three years.

• Date published: 16.10.2008

db x-trackers gets granted distributing nod from Revenue

Deutsche Bank’s exchange traded funds platform db x-trackers has been granted distributing funds status by HM Revenue & Customs.

• Date published: 16.10.2008

Terrible hangover to come, says Bowie

Ronnie Bowie addresses the Faculty of Actuaries as incoming president

• Date published: 16.10.2008

BNP Paribas arm mergers with IMS

Move will strengthen the proposition, claims adviser

• Date published: 16.10.2008

Quintet join Cofunds in intermediary support team

Cofunds, the independent investment platform, has bolstered its intermediary support team with five new appointments.

• Date published: 16.10.2008

Welsby leaves Adnitor for InfoComp

InfoComp has appointed Eric Welsby as business consultant

• Date published: 16.10.2008

Government crisis measures dreadful for pensions

The government’s response to the credit crunch is dreadful for pensions, according to Ros Altmann.

• Date published: 16.10.2008

Wilkinson climbs every mountain

Victoria Wilkinson (pictured left), who works in customer services at Skipton Financial Services’ head office in North Yorkshire, won a bronze medal running for Great Britain in the World Mountain Running Grand Prix Series last weekend.

• Date published: 16.10.2008

LV= Asset Management appoints Gains as head of sales

Appointment will hold key responsibilities in multi-manager division

• Date published: 16.10.2008

AIC poll reveals savvy are looking to hedges

Sophisticated investors see potential for returns from hedge funds yet remain concerned about perceived lack of transparency and riskiness, research from the Association of Investment Companies has revealed.

• Date published: 16.10.2008

Donaldson joins Cambridge BS board as non-executive director

Cambridge Building Society has appointed Matthew Donaldson as its new non-executive director.

• Date published: 16.10.2008

Wesleyan revamps client services

Wesleyan Assurance Society has overhauled its customer service contact centre.

• Date published: 16.10.2008

MetLife to offer web aid on unit-linked products

MetLife has announced the introduction of a series of webchats for advisers, following the launch of its new retirement portfolio in June.

• Date published: 16.10.2008

Hargreaves warns on multi stagnation and consolidation

New launches are unlikely for the near future until volatility ends, says Mark Dampier

• Date published: 16.10.2008

Pensioners are worse off under Labour, says Liberal

Liberal Democrats have claimed pensioners are struggling more under Labour as rising inflation is hitting pensioner incomes.

• Date published: 16.10.2008

Schwok steps up to Dubai roll for SII

The Securities & Investment Institute has announced the appointment of Joseph Schwok as its new country head for United Arab Emirates.

• Date published: 16.10.2008

Quartet added to the Pension Protection Fund in September

Additions bring the number of scheme transferring to the fund to 61

• Date published: 16.10.2008

Principal beats targets as it raises £23,000 for charity

Principal Investment Management has raised £23,000 for charity.

• Date published: 16.10.2008

WH Ireland shelves income launch plans

Ongoing fluctuations in the market blamed for postponement

• Date published: 16.10.2008

HMRC is gearing up for an IHT crackdown, warns Dixon

Dixon Wilson has warned that HM Revenue & Customs has begun an inheritance tax clampdown aimed at identifying where taxpayers may have made gifts prior to death which should be included in their estates for IHT purposes.

• Date published: 16.10.2008

Defaqto aims to roll back third-way complexities with guide

Written by pensions principal Matt Ward, the guide tackles pre and post-retirement options

• Date published: 16.10.2008

Rochussen to replace Pease as chief exec at JO Hambro Capital Management

Boutique investment firm JO Hambro Capital Management has appointed Gavin Rochussen as chief executive, replacing Nichola Pease who becomes deputy chairman after 10 years as chief executive.

• Date published: 16.10.2008

Under-writing steps up a gear at Canada Life as it goes 'one time'

Canada Life has announced changes to its medical underwriting process by introducing “one time” underwriting.

• Date published: 16.10.2008

Dickinson leaves Pru for MGM Advantage

MGM Advantage has announced the appointment of Lynsay Dickinson as head of marketing.

• Date published: 16.10.2008

Skandia to take its Trailblazer show on tour

Skandia is hosting its free Trailblazer seminars for advisers in November as part of a roadshow that will visit 11 towns and cities across the UK.

• Date published: 16.10.2008

Bolton only departure as Edeus calls in KPMG

Michael Bolton is set to be the only redundancy after KPMG was appointed as administrators for Edeus Mortgage Creators.

• Date published: 16.10.2008

Mandelson announces ministerial team

Peter Mandelson has outlined the responsibilities of his ministerial team at the department for business, enterprise and regulatory reform.

• Date published: 16.10.2008

NS&I comes out on top when it comes to trusting brands

National Savings & Investments (NS&I) is the most trusted high street banking brand in the UK, according to new research.

• Date published: 16.10.2008

Citizens Advice reports a rise in inquiries

More people are seeking advice on how to manage mortgage and secured loan arrears and fuel debts, figures from Citizens Advice have revealed.

• Date published: 16.10.2008

Industry gets its way over account limits

Insurers have largely welcomed government confirmation that strict limits will be imposed on the contributions people can make into personal accounts.

• Date published: 16.10.2008

A cup of tea and a nice sit down

Pink Home Loans’ employees joined in with the World’s Biggest Coffee Morning to support Macmillan Cancer Support in its bid to raise funds for the charity.

• Date published: 16.10.2008

Friendlies are coming in to their own, says AFS president

Traditional values of friendly societies are coming to the fore as customers look to fairness from providers, the outgoing president of the Association of Friendly Societies has claimed.

• Date published: 16.10.2008

Royal London looks to Hanlon for group financial controller role

Royal London, the UK’s largest mutual life and pensions company, has appointed Duncan Hanlon as group financial controller, reporting to Stephen Shone, group finance director.

• Date published: 16.10.2008

Industry gets behind gov't bail out and unified rate cut

The government and the global co-ordinated move to cut interest rates was necessary to “reboot the system”, according to Andrew Fisher, chief executive of Towry Law

• Date published: 16.10.2008

Banks lead the way as they pass on rate cut

Within 24 hours of the surprise 0.5 of a percentage point cut in the Bank of England bast rate announced last Wednesday, several leading banks promised to pass on the full reduction to their mortgage borrowers.

• Date published: 16.10.2008

Codwery calls for a bail out clarity clause

Clive Cowdery, chairman of The Resolution Foundation, has called on Alistair Darling to ensure banks gave formal commitments over clarity, in the wake of the government’s bail out.

• Date published: 16.10.2008

Tories in calls for fairness on annuities

Government states that is has not ruled out the possibility of suspension of forced annuitisation

• Date published: 16.10.2008

Galvin heads to pension regulator

The pensions regulator has confirmed the appointment of Bill Galvin as executive director for strategic development, taking over from Chris Dobson, whose six month engagement has come to an end.

• Date published: 16.10.2008

Watchdog hands out first gears TEPs fines

The FSA has fined two IFA firms selling geared traded endowment policies in the first enforcement cases arising from its targeted programme of work in this area.

• Date published: 16.10.2008

Pickering case to await ruling by House of Lords

Justice Burnett says Heather Moor & Edgecomb case will be adjourned until House of Lords rules on a similar case

• Date published: 16.10.2008

Fidelity and CII team up to offer adviser web learning

The Chartered Insurance Institute and FundsNetwork have joined forces to provide a learning package for IFAs.

• Date published: 16.10.2008

Clerical pushes fund solution arm

Clerical Medical Investment Solutions has been launched and is designed to support IFAs run their business

• Date published: 16.10.2008

Zurich revamps UK life business in growth push

Zurich has announced structural changes to its UK life business in order to further pursue its ambitious growth strategy.

• Date published: 16.10.2008

Gov't set to form banking group in bill

The government is to set up a new expert banking group to help prepare for the long-awaited Banking Bill.

• Date published: 16.10.2008

Debt rising as savings are falling

Debt levels have risen by almost £800m compared to the second quarter of last year, according to Unbiased.

• Date published: 16.10.2008

FSA's short-selling ban under fire

The industry has called for the FSA to differentiate between “rapacious” hedge funds and private individuals as the short-selling bans have hit private investors in the pocket.

• Date published: 16.10.2008

IFA Life adds standard forum

Financial social networking site IFA Life has teamed up with Standards International to add a professionalism forum.

• Date published: 16.10.2008

Up to 100 to go as part of Origen's streamlining

Quarter of the workforce at risk as it centralises support teams to Farnborough

• Date published: 16.10.2008

Annuity Direct speaks out against delaying pensions

Putting off drawing money may lead to unnecessary stress, according to company

• Date published: 16.10.2008

Mazars comes out on top at MM awards

Financial planning firm wins three awards at glittering ceremony

• Date published: 16.10.2008

Credit unions move to assure on savings

Unions have not bought up the debts of other financial institutions, says association

• Date published: 16.10.2008

FSA warns over excess in pay

Formal letter raises concerns over 'inappropriate' remuneration schemes

• Date published: 16.10.2008

Britannia in merger talks with CFS

Merger is dependent on the Butterfill Bill being passed which will make it easier for mutuals to join

• Date published: 16.10.2008

Skandia to bring US quintet onshore

Skandia Investment Group has announced plans to bring five US funds onshore to the UK.

• Date published: 16.10.2008

Hang on to personal life assurance, says IFA

Employees should take advantage of competitive rates, says Kelly Weeble

• Date published: 16.10.2008

Gov't to bail-out profit-making banks

Part-nationalised banks made record profits in 2007

• Date published: 16.10.2008

Compliance Register announces Ostcar night

New category sponsored by Financial Adviser is also introduced

• Date published: 16.10.2008

UK is now Millionaires Row

Boston Consulting Group report reveals that there are close to 700,000 millionaires living in this country

• Date published: 16.10.2008

Bank must look past CPI levels, says expert

MPC must consider house price inflation as well, warns David Miles

• Date published: 16.10.2008

Top economist backs Brown

Ruth Lea sings prime minister's praise as lunchtime briefing

• Date published: 16.10.2008

MP calls for complete deregulation

Delegates at Cicero Forum Financial Services Summit that industry regulation needs a re-think

• Date published: 16.10.2008

Crunch will chew up all networks except for 10, warns Mortgage Intelligence

Only 10 mortgage networks will survive the current market turmoil, according to Mortgage Intelligence.

• Date published: 16.10.2008

Investing in retirement is essential, says MetLife

Insurance giant MetLife believes that despite recent financial turmoil there are still increasing benefits in investing in a retirement income.

• Date published: 16.10.2008

Friends Prov denies St James Place takeover rumours

Friends Provident has vigorously denied rumours that it has taken an interest in wealth manager St James Place, which is part owned by HBoS.

• Date published: 16.10.2008

LV= Asset Management looks to Gains

LV= Asset Management, the fund management arm of mutual insurance and investment group LV=, has appointed a new head of sales.

• Date published: 16.10.2008

Industry gets behind suspension pledge

Tories call to suspend compulsory purchase gains support

• Date published: 16.10.2008

Care reform 'will raise' standards

New regulations by government would see the creation o f Care Quality Commission

• Date published: 16.10.2008

Lothian steps up at the Personal Finance Society

Paul Lothian, one of the vice-presidents of the Personal Finance Society, has been elected as the new president of the society after being voted in by the board.

• Date published: 16.10.2008

Lothian steps up to take on PFS presidency

Vice-president is promoted to top position

• Date published: 16.10.2008

Rock's Together range an 'ongoing issue'

Lender will also not take action against its former board

• Date published: 16.10.2008

Skandia to launch five US funds

Skandia Investment Group (SIG) has announced its plans to launch five new US funds to UK.

• Date published: 13.10.2008