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Why do I need a Terms of Business agreement when I haven’t needed one before?
The Terms of Business Agreement is a standard type of document which is used throughout the financial industry between providers and financial advice firms. This is a legal document between NS&I and financial advice firms which covers a wide range of legal and regulatory terms thus helping to safe guard the relationship between NS&I, financial advice firms and our customers.
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Why has NS&I decided to introduce an online service for advice firms?
At NS&I we want our customers chosen advice firms to be able to access their information as easily and securely as possible. By making it possible for financial advisers to gain access to client information via a secure online service, this allows for a much more efficient relationship not only between NS&I and advice firms, but also our mutual customers.
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Why has NS&I removed the option for my client to make a withdrawal from their Fixed Interest Savings Certificates?
A fixed-term product is designed to be held for the full term purchased.
We continually review our products and monitor the market conditions as well as competitor and customer activities.
Removing the option to make a withdrawal brings us in line with the wider financial fixed-term investment market.
If your client thinks they might need access to their money before the end of the term, they might need to consider if this is the right product for them.
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Why has NS&I removed the option for my client to make a withdrawal from their Index-linked Savings Certificates?
A fixed-term product is designed to be held for the full term purchased.
We continually review our products and monitor the market conditions as well as competitor and customer activities.
Removing the option to make a withdrawal brings us in line with the wider financial fixed-term investment market.
If your client thinks they might need access to their money before the end of the term, they might need to consider if this is the right product for them.
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Why is NS&I changing the index on Index-linked Savings Certificates from RPI to CPI?
In 2013, as a result of flaws in the way it is measured, RPI lost its status as a National Statistic. The 2015 Johnson Review of Consumer Price Statistics recommended that government and regulators should work towards ending the use of RPI as soon as practicable. Starting in 2010, successive governments have reduced their use of RPI. The indexation of direct taxes, benefits, public sector pensions, the State Pension and business rates have all moved from RPI to CPI.
The change also helps us to balance the interests of our savers and the cost to taxpayers.
Adviser email updates
Adviser email updates offer the quickest, easiest way to stay up to date with the latest news on our products, interest rates and other important developments affecting advice firms.
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