Scottish Amicable

Old Mutual Wealth Management has appointed three non-executive directors to its board.

Prudential has paid an IFA for advice needed by a customer who received a correction payment on their Scottish Amicable pension, after IFAonline highlighted the case.

The Prudential's correction payments for investors with Scottish Amicable pensions will create additional costs for IFAs and clients, an adviser warns.

The Prudential has written to 39,000 customers saying it valued their pensions incorrectly.

Prudential has maintained the annual bonus rates on its with-profits policies but suggests conditions are improving as the average MVR on the Prudence Bond has now fallen to 2.5%.