UK: IFAS STRONGER IN REGULAR PREMIUM PENSIONS

Article Abstract:

Statistics from the Association of British Insurers (ABI) indicate that the share of the market for regular premium payments for pensions, increased for independent financial advisers, to over 70% in 3rd qtr 2000, vs 58% in 1st qtr 2000. Their share of the market for single premiums, which is more profitable, fell to 67% in 3rd qtr 2000 from 75% in 1st qtr 2000. Independent financial advisers should do well from payments into stakeholder pension plans, which are based on regular savings. According to an ABI spokesman, single premium payments do tend to fluctuate.

Sales & consumption, Life Insurance, Direct Life Insurance Carriers, Association of British Insurers

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UK: IFAS TO REPORT COMPLAINTS TWICE YEARLY

Article Abstract:

IFAs face new rules for complaints reporting when the Financial Services Authority (FSA) takes over from the Personal Investment Authority (PIA). The number and types of complaints will need to be reported to the regulator twice a year, which, according to the FSA, is a risk-based way of monitoring which enables it to receive more information to identify and confront problems. The move has been largely welcomed by IFAs.

Government regulation (cont), Financial Services Authority

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UK: HOST FINANCIAL RECRUITS 200 IFAS

Article Abstract:

IFA network Host Financial is to recruit and train 200 IFAs, formerly part of the Sun Life direct sales team. The acquisition of Sage Financial Services will add IFA network services to Host, which was formerly owned by Sun Life Financial of Canada. Former Sun Life sales director Phil Lockyer has been appointed chief executive of Host Financial.

Labor force information

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