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Government to tackle financial exclusion

In today’s pre-Budget statement chancellor Gordon Brown announced plans to tackle financial exclusion and encourage more people to open bank accounts.

He says there are still 2million families in the UK with no bank accounts which limits their access to credit.

He says: “Banks and the government will work together to reduce by half the number of people without bank accounts.”

To tackle financial exclusion there will be investment in face-to-face advice from the likes of Citizens Advice Bureaux.

A total of 120m will be invested in promoting the greater take-up of savings accounts.


Warning on online cover sales

IFA Master Adviser is warning brokers not to cut corners when selling life and critical illness cover or face the consequences.

Scottish Provident on target for 60m CI payouts

Scottish Provident is on target to pay out 60m in critical illness payments in 2004.The figure is double the average yearly payout of 30m since the introduction of the plans in 1996 and is the highest annual figure paid out by the company in any 12 month period.The average individual payout on Scottish Provident claims […]

Taking a tough stance on fraud

The FSA has adopted a co-operative approach to help the industry tackle fraud and places responsibility on a firm’s senior management to implement safety checks, says Ben Stafford

Gummer appointed to equity release firm board

The chairman of the Association of Mortgage Intermediaries and the Association of IFAs, John Gummer MP, has been appointed as a non-executive director of equity release firm Sovereign Reversions.The company specialises in home reversion plans, which as of yet, are not regulated by the Financial Services Authority.The company was set up in 1992 on an […]


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