News

All the latest news and views from Financial Advice Network

IFAs and business protection

15 Jan, 2020

Almost Half of Advisers Neglect Business Protection


While Independent Financial Advisers have seen a rise in corporate clients taking out business protection, 46% of all advisers have not yet taken out cover for their own business. This figure climbs to 59% when considering IFAs who are sole traders. These statistics have arisen from the findings of recent research conducted by VitalityLife. VitalityLife […]

LV= Chief Executive Steps Down

12 Dec, 2019

LV= Boss Steps Down Following Sale of Insurance Arm


Richard Rowney is due to depart LV= after 13 years with the business. He will step down from his role as chief executive and board member at the firm at the end of this month. Formerly Liverpool Victoria, LV= is amongst the UK’s largest insurance providers, with a reported customer base of around 5 million. […]

mini-bonds promotion ban

27 Nov, 2019

FCA Imposes Ban on Promotion of Controversial ‘Mini-Bonds’


The Financial Conduct Authority (FCA) has announced that any marketing of so-called ‘mini-bonds’ will be banned. ‘Mini-bonds’ act as IOUs from companies to investors and are in place for a set period of time, throughout which the investor receives interest at a fixed rate. Investors’ money should then be repaid once this period of time […]

first-time buyers lead market

20 Nov, 2019

First-Time Buyers Take the Lead in UK Housing Market


There has been an increase in the number of first-time buyers entering the housing market, according to new data from UK Finance. The figures, released this week, show that there were more first-time buyers taking their first steps onto the property ladder in September, compared to the same time last year. 29,100 mortgages were completed […]

More female advisers needed

13 Nov, 2019

More Female Advisers Needed, Claims Openwork


New Openwork research shows that over a third of advisers feel there is an urgent need for their companies to recruit more women, into both junior and senior roles. Pollright carried out the research on behalf of Openwork, surveying a group of 100 IFAs. 34% of the respondents called for “immediate action” regarding the recruitment […]

British Steel Rescue Deal

11 Nov, 2019

£70m British Steel Rescue Deal on the Horizon


British Steel is expected to announce a £70m buyout by Chinese industrial firm Jingye, in a rescue deal that could save up to 4,000 UK jobs. The stricken steel manufacturer, which has sites in Scunthorpe and Teesside, went into liquidation in May and has since been kept afloat by the government via the Official Receiver. […]

HSBC and Santander Refunds

02 Dec, 2019

HSBC and Santander Will Refund Over 115,000 Customers Following Failures


Thousands of HSBC and Santander customers are expected to receive refunds, due to communication failures by the banks. Under rules set out by the Competition and Markets Authority (CMA), banks must contact their current account customers when they go into an unarranged overdraft, in order to allow them enough time to avoid any associated fines. […]

Uber London Licence Lost

25 Nov, 2019

Bad News for Uber as Transport for London Refuses to Renew Licence


Uber has been dealt a huge blow by Transport for London (TfL), who confirmed that the taxi hailing app’s licence to operate in London will not be renewed. The decision was made as a result of concerns over the safety of Uber users. According to London Mayor Sadiq Khan: “14,000 Uber journeys have involved fraudulent […]

Google launching current accounts

14 Nov, 2019

Big Tech Banking: Google Set to Launch New Current Accounts


Google is planning to join other big-name tech brands in the financial services arena, by launching “smart checking” current accounts to its customers. The tech giant is in talks with US banks and credit unions, ahead of the planned launch of the new service through the existing Google Pay platform. In an email statement, a […]

12 Nov, 2019

Short Walks Every Day Could Boost the World’s Economy by £78bn


An additional 15 minutes of walking every day could have a significant impact on the global economy, according to new research. Increased physical activity could lead to lower mortality rates, reduced sick leave and increased workplace productivity, with workers gaining up to five additional days of productivity each year. It is thought that the result […]

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