Industry news and views from Panacea and our partners.
Industry News_
Scottish Provident paid out 93 percent of all Critical Illness claims in the first half of 2009
The Critical Illness Claims Report released today by Scottish Provident, one of the UKs leading protection providers, shows that they paid out on 93 percent of all claims assessments concluded between January and June 2009 (an increase of six percentage points on the first half of 2008). This is one of the highest percentages in the industry.
Industry recognition at the Life & Pensions Moneyfacts Awards 2009 for The IPS Partnership
The IPS Partnership was voted highly commended at the 2009 Investment Life & Pensions Moneyfacts Awards in the Best SSAS Provider of the Year category, on Friday 25th September.
Promises delivered: helping you to improve your business
We understand how challenging economic conditions have been over the last year. We have been working hard to help you and your business by bringing you a number of product and service enhancements.
Attack of the Rubber Chickens
If there was one thing we could point to in the Great Depression that almost ensured the economic recession collapsed further into an extended and deepening depression, it was the imposition of a wave of protectionist tariff barriers that effectively killed off global trade for the next few years.
IFAPAC Update - petition of no confidence in the FSA
Those who have tuned in to the Citywire debate today will see that one participant has raised the idea of a petition.
Meeting with MPs - why not try similar?
With regard to RDR concerns, on Friday 11th September 2009 a meeting was held between three Conservative Parliamentary Candidates and 20 prominent IFAs.
AEGON - Our expertise can help you find the right path to 2012
Use our step-by-step guide to make the most of the new opportunities pensions reform brings. You can also use our:
Hub eNews: 17 Sep 09 - ISA guide updated, ready for October
ISA updates complete for October 2009 Increase in limits reflected in guide and mailing letters In preparation for your communications to clients over the age of 50, our ISA mailing pack has been updated to reflect the forthcoming increase in their annual allowance.
Wizard Learning - RDR Diploma exams - You can have your say!
The FSSCs recent announcement that it is holding regional events to allow advisers to provide feedback on the proposed core qualification standards post RDR is welcome. Lets hope however, that those at the front line are listened to where practical and constructive suggestions are given and that we are not going to be subject to 9 weeks of lip service.
FSSC National joint RDR and NOS Consultation Events
The FSSC is holding a series of combined consultation events on National Occupational Standards (NOS) and Retail Distribution Review (RDR) standards, with a focus group on draft NOS for Providing Financial Advice and Financial Planning, and for Securities and Derivatives in the morning.
An Air of Palpable Excitement
I can't remember seeing such group ecstasy for a long time. Suddenly it's all over! The announcement of the return of M&A bids was greeted with the joy and relief of a chocoholic licking their first Mars Bar of the day.
An accurate barometer of consumer's dissatisfaction
Publication by the FSA of the aggregate complaint statistics for 2006-2008 provides an accurate barometer of consumer's dissatisfaction. Unlike various industry surveys these figures are the FSA's very own and they portray a number of great divides.
LV= latest news
The long and the short of SIPPs Continuing his regular monthly feature, Ray Chinn, head of pensions at LV=, continues to look at topical issues in the SIPP market. 5 Star Rated Combined Life & Critical Illness Cover from LV= We have improved four of our CI definitions from the current ABI standard to ABI+ definitions.
True Potential Seminar invitation
The True Potential team are proud to announce the launch of Version 4 and are delighted to invite you to the True Potential seminar which will be held at various locations across the UK during the week of 5th / 9th October 2009.
Welcome to the IPS Partnership
PanaceaIFA is delighted to welcome to the community our first SIPP and SSAS provider experts. The IPS Partnership was born in September 2008 as a result of the merger of two leading providers of Self Administered Pension Schemes; IPS Pensions Ltd and PAL Partnership Ltd.
How best to grow mushrooms. As we all know, the best way to grow mushrooms is in the dark and cover them with lots of good organic fertiliser
IFA Alan Lakey recently wrote to Hector Sants asking him what enquiries, reviews, analyses and/or research has been carried out enabling him to form his viewpoint "We were unable to find evidence of the extent to which the absence of a long-stop, on its own, was inhibiting investment in the sector".
Retail Compliance Bulletin
The Retail Compliance Bulletin is a digest of material drawn from the FSA, FSCS and FOS and other carefully selected sources (including HM Revenue and Customs; HM Treasury; Department of Business and Department of Work and Pensions) plus a roundup of relevant market news.
AEGON - Make the most of a booming market
Despite the current economic climate, theres still one market offering huge opportunities for you today and for years to come. Interested? Baby boomers are retiring in their droves the Government Actuarys Department expects 13 million people* to retire in the next 20 years.
FSSC consults on RDR benchmark qualifications for advisers
Online survey and regional events announced to gather feedback on draft core units agreed by industry-wide advisory group Deadline for online survey 27 October 2009; early response encouraged Background, proposals and survey available here.
The Hunters Tales
Number 55, 4 September 200 ONE GUINEA AND A GLASS ... It's been a month since this organ took its ease. Apart from constipation, what has happened? Well, a prodigious piranha was found in the Severn.
AEGON - Bond View - now even more helpful
We know you already enjoy the benefits of our Bond View service, but it now gives you even more information. With our new bond history function, you can view all the transactions that have taken place on your clients bond.
AEGON - Create business protection leads
Show your clients the risks associated with not having the correct business protection in place with our protection video. Theres a downloadable email at the end that you can use to introduce the video to your clients. This contains links to a full version and short version, tailored to them
Resources Compliance - Compliance tip - September 2009 - Passporting notifications and charges
This compliance tip is applicable to all FSA firms who have made, or are considering making, passporting notifications to provide cross border services under MiFID and/or the Insurance Mediation Directive (IMD) in order to deal with customers located elsewhere in the EEA.
Wizard Learning - Diploma face-to-face revision workshops plus online training package
Maximise your chances of cii diploma exam success for J01, J02, J04, J05, J06 and J08 with our blended training packages that include a 1 day face-to-face revision workshop plus online training.
Trustnet - Structured product alert
Trustnet provides fund selection tools, research and analysis for financial advisers. Registration includes access to our database of UK Structured Products, from which the latest releases and imminent closures are listed below.
PanaceaIFA are delighted to welcome Artemis as our latest sponsor.
Artemis bring to our portal a wealth of web based education and training material to enable you to understand more about their products, prices, webcasts, markets, strategies and more.
The Sorcerer's Apprentice
The end of the holidays and the beginning of September is really the start of a new investing year. The past few weeks have seen an enthusiastic equity rally, but is really based upon some pretty thin trading volumes.
Artemis webcast registration invitation
Join Derek Stuart's and Ruth Keattch's joint Artemis UK Special Situations webcast on Wednesday 16 September 2009 at 10.00am.
Hub eNews: 3 Sep 09 - Join Schroders and important developments
Meet 4 of Schroders top fund managers - An invitation to join them for an update Schroders is delighted to invite you to meet four of their top managers as they tour 5 venues in September.
Resources Compliance Regulatory Seminar Invitation
We would like to invite you to our Regulatory Seminar held in our Birmingham offices on 15 October 2009. Please book your place as soon as possible as places are limited.
Selectapension Summer News 2009
As a key representative of your business, in terms of our relationship, I would like to introduce a news and information service we will be issuing to all of our main distribution channels.
Let's tweet
PanaceaIFA is now on Twitter. Too much information. No, in fact, Twitter solves information overload by changing expectations traditionally associated with online communication. At Twitter, one question is asked, "What are you doing?"
IFA letter of the week
An IFA gets a bit cross with claims by the FSA chief that some city activities were "socially useless"!!
Paraplanner awards sponsored by Wizard Learning
Wizard Learning are pleased to announce that we are again sponsoring the Paraplanner of The Year awards. The technical assessment element has been written by our tutors and is being automatically marked by our online training system.
From Recession to Recovery (that's the hard part!) - Bonus Twaddle and "Doh!" x 3
Good news - the world is coming out of recession. Bad news - it's going into a period of very likely tepid, anaemic or insipid recovery. No doubt the Thesaurus is going to be well thumbed by the time we get through the next quarter to describe the quality and standard of the recovery, but the message is likely to be a familiar theme.
Date Dilemmas
Youre on a first date that starts off in a swanky West End bar. The conversation is a tad on the dry side. You are glad that you made the effort to go but now are in a quandary. Do you a) cut the evening short and leave before you are dragged onto more awkward silences over dinner or b) keep the hope and say to yourself that the only way is up?
Comfortably numb???
In this open letter exchange with George Osborne's office from IFA - Lyn Cooke one could be forgiven in thinking that the Conservative Party just do not understand IFA business models and how they serve the public. It seems that someone has been anaesthetising their awareness sensors. Lyn's letter, read the mail trail (click here) is an excellent example of standard replies being given to issues they appear not to understand or maybe do not even want to understand.
Resources Compliance - Regulatory Update Seminar Invite - London, September 09
We would like to advise you that we have a few places remaining for our Regulatory Update Seminar running in September at our London office and would like to invite you and your colleagues.
Ascentric teams up with db x-trackers to run further ETF Masterclasses
Following the success of previous ETF Masterclasses, independent wrap platform Ascentric is running further Masterclasses, this time in association with db x-trackers, Deutsche Banks Exchange Traded Funds platform and Europes fastest growing ETF provider.