Phoenix Life and the art of overcharging customers

Potentially tens of thousands of people holding a Scottish Provident insurance policy could be owed substantial refunds, now that life insurance company Phoenix has finally been forced to admit it has been overcharging its clients. Perhaps ironically, the scandal was only brought to light by the efforts of one retired independent financial adviser who took the time to sit down and analyse the charges on his own policies. Continue reading

UK seeing “actual” growth?

It appears the UK is once again on the up, as David Cameron flaunts the news that Britain’s employment rate has reached a joint highest level since 1971. The government has taken this as further evidence that the UK economy is not only still growing, it’s getting stronger too. It’s a sentiment that seems to be mirrored by the market; as the pound strengthens, wages are finally starting to outpace inflation and the standard of living in places outside of London has slowly begun to increase.  Continue reading