Industry news and views from Panacea and our partners.
Industry News_
Finding the Phoenix from the ashes
It is far more fashionable to focus on the failures and of course not very British to actually celebrate any success. This is in fact made worse when, in times of economic difficulty, it almost appears impolite to admit to that your business or enterprise might actually be doing quite well.
Norwich Union Healthcare introduces bereavement helpline for group life customers
Norwich Union Healthcare today announced the introduction of a new Bereavement Helpline to offer additional support to relatives and partners of Group Life customers who have passed away
LV= Latest News
Celebrating our Improved With-Profits Offering! To celebrate our improved with-profits pension annuity offering, every new with-profits quote request that we receive between 18 May and 19 June 2009 will be entered into a prize draw to win £500 worth of holiday vouchers (Excludes portal quotations).
Lincoln Financial Group - Demand for flexible annuities is still strong amongst IFAs
73 per cent say flexible annuities offer a valid alternative to traditional annuities. Over half of IFAs state that traditional annuities are outdated. Majority of the clients are now more concerned about their annuity choice.
Missing in action
A recent report from Abbey has blamed shoddily packaged mortgage cases for delays in its processing and says that at one point 65% of applications from brokers were not up to scratch.
Hub e-news and update
Artemis Strategic Assets Fund Fixed offer period closes Friday 22nd May 09 Profit hunters are by nature unconstrained spirits, with an instinct to wander far and wide.
LV= Latest News
Check out some really useful material below: Income Protection Large Case Team
Register your place at a FREE seminar near you
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And then at last the parachute opened!
In sterile City offices, country downgrades are achieved by tapping into a keyboard; in the real world they can result in the chucking of a brick. It is very easy to blandly talk about downgrading in the ratings of national economies without appreciating the implications for, not just those nations, but their populations as well.
Register today for Platform Evolution IV
3rd & 4th June 2009 Hilton Kensington Hotel, London Q: Where's the benefit in you attending a conference if you only get to hear consultants and provider sales pitches but few IFA case studies? A: No, we can't see it either.
"Look out kid; it's something that you did"!!
MPs are currently undergoing a morality examination by the media and those constituents they serve- for very good reasons and some may say about time too
Professional Indemnity Policy Insolvency Exclusions
There is nothing wrong with the old versions of this clause. The problem is that in recent years it has been extended to link in and take out claims arising from an IFAs negligent selection of an institution that fails.
Thames River Capital Update
The last 6 months has again proved a very challenging time for all investors in financial markets. Significant market volatility has tested management skills, but we are pleased to report that all of our five funds were strong relative performers in their respective competitor peer groups, building on the outperformance we delivered in the prior six month period.
AXA Winterthur Wealth Management - Professional Edge
AXA Winterthur Wealth Management has enhanced its links with the adviser community with a new service, which aims to help advisers develop their business models to adapt to an increasingly challenging environment.
Hartford to close UK operation from 8th May 2009
Hartford Life Limited President and CEO Marc Lieberman has announced that the company will suspend all sales in the UK and will close its London-based sales and marketing operations in the coming months.
To Trade or Not to Trade?
As the recession takes hold, I am unashamed to say that I am going to staycation in England this Summer and have already spent an increasing number of nights within the four walls of the shoebox that is my flat.
LV= Latest News
LV= Free Critical Illness Offer for New Income Protection Customers Extended Until Year End Protection specialist LV= has extended its free critical illness (CI) cover offer to the end of 2009.
Trust help required
IFA Andrew Hirst would appreciate a dialogue with any IFA who can help him regarding trusts. He writes- "Im trying to find someone to talk to about trusts. I have a client whose daughter has just received two lump sums from her (deceased) father.
Compliance tip - May 2009 - Swine Flu - are you prepared?
Swine Flu is currently a major news item and The World Health Organisation has now officially upgraded the status of the current outbreak to Phase 5 (Imminent Pandemic).
Pass the Tamiflu
FSA, Small IFA's and Swine Flu- are you prepared????? In light of the recent outbreak of influenza in Mexico and subsequent reports from the World Health Organisation, the FSA believes that regulated firms should be assessing their contingency plans to consider what steps they may need to take to address possible issues.
Life on Mars
Even now, a very large number of major and an even larger number of minor "manufacturers" of financial services products who rely on the IFA sector for their product distribution, the world of the small, directly regulated IFA is akin to Mars.
FSCS stats and practices
Money Marketing has reported that the Financial Services Compensation scheme has paid out more than £33m to consumers as a result of claims on failed IFAs over the past financial year.
New Scottish Widows Adviser Services: RDR Microsite
The new Scottish Widows RDR microsite aims to keep IFAs up to date with the latest developments as RDR becomes RDIP. It will host our Widows views as well as those of some of the most influential people working on RDR in the industry.
The New Austerity - Welcome to the Fourth World
So much has already been written about the detail of the UK Budget that I am not going to repeat the excellent work of others. I am sure you have had far too much to read already.
Poor Funds and Emerging Economies
If ever there was a measure of a boom in financial services it must be the growth of investment funds. Since 2002 there was a rise of 31.6% to a huge 32,941 funds in Europe.
FSA, openness and the Freedom of Information Act
A number of our IFA members are becoming more and more concerned that requests for information, explanation or clarity under the FOI are being rejected. Why is this?
LV= Latest tools and resources
SIPPs Article In the second of his regular monthly features, Ray Chinn, head of pensions at LV=, continues to look at topical issues in the SIPP market.
Money Marketing Individual Protection e-Excellence Digital Edition supplement
Ian McKenna looks at how technology can be leveraged to improve efficiency when transacting protection business, plus an analysis of the performance of each of the 13 providers who participated in this years study and record the views of leading distributor firms in our Adviser Roundtable.
Wizard Learning - FSA knowledge requirements, Grants for ISO 22222
Wizard Learning believes that all financial planning professionals should have their knowledge assessed on a regular basis as well as developing their skills and knowledge further.
Lincoln i2Live - Administration fee removed
Lincoln Financial Group has today announced it is removing the administration fee on its flexible retirement product Lincoln i2Live.
Somewhere over the Rainbow
With the bunting fading on the floor and the cheering crowds now just echoes in the halls, the Obama Rainbow Tour of Europe has finally ended. A G20 meeting, a NATO council and a grand tour of Eastern Europe bore all the hallmarks of a royal progress.
Compliance Tip - April 2009 - Paper Filing of FSA Reports - Have you complied?
Whilst firms are now getting to grips with GABRIEL (the FSAs online reporting system) we should not forget that GABRIEL does not encompass all forms of mandatory periodic reporting to FSA as there are additional requirements for certain further paper based reports
LV - Latest News
We have extended the special offer for Unemployment cover, available for all customers who switch their existing unemployment cover to LV= Mortgage & Lifestyle Protection before 30th June 2009.
Some Proper(ty) Perspective
To some it is just a place to live, to others a useful investment for the future, but for the British our house has not been our castle (that was just a Norman fetish), but rather our national fixation.
Tools, Tools, Tools
Together with our product provider supporters, PanaceaIFA provides easy access in one place to a wealth of Tools & Resources to help you run your business smarter in troubled times.
Quote from Gordon Brown
"I did maths for a year at university. I don't think I was very good at it"
Ascentric turns spotlight on due diligence
Ascentric, the independent wrap platform, stresses the importance of IFAs undertaking regular due diligence on the platforms they use to make sure they remain suitable for clients and fit for purpose.
Ascentric
Panacea welcomes Ascentric to our community as our latest sponsor supporter. Without the support of such firms, PanaceaIFA would not achieve the success it has with some 1400 committed members and rising.
Prudential - in partnership with Adviserwise.com, offering Advisers free eServices and TCF Workshop
A free eServices workshop is to be held on the afternoon of 23rd April 2009 at Prudential's London, Paddington office.