Story by: Ken Brown, via email, Money Management
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Is it right that a with profits fund should bear the costs of misselling? Yes, say the life companies citing a statement made in 1998 by Patricia Hewitt, the then Economic Secretary to the Treasury. She made clear that it was acceptable to meet the pensions misselling costs from the inherited estate, because it is "a sensible way to protect policyholders from immediate and severe cuts in their bonuses".
Commission based advisers are bracing themselves for larger clawbacks after Legal & General has been accused of taking a more aggressive stance on lost revenue from cancelled policies.
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The prospect of earning cash plus returns in falling markets is attractive. Absolute return funds claim to do this, but is it always possible, asks Geordie Clarke?
Location: West End
Salary: N/A
Location: Nationwide
Salary: Basic - £30,000 - £50,000 with realistic OTE in excess of £100,000.
Location: Surrey
Salary: To £50,000 + Bonus + Benefits
Madam , I was a financial adviser for 10 years up to 1988 but, finding myself increasingly disillusi...