Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to GrahamPlatt,Walkeia,genou,Anonymous,Fluke, for Donating to support the site

Phoenix Group Final Results

Practical discussions about equity High-Yield Portfolios (HYP) for income
Forum rules
Tight HYP discussions only please - OT please discuss in strategies
Bouleversee
Lemon Quarter
Posts: 2344
Joined: November 8th, 2016, 5:01 pm
Has thanked: 443 times
Been thanked: 297 times

Re: Phoenix Group Final Results

#40611

Postby Bouleversee » March 22nd, 2017, 9:05 pm

Gengulphus wrote:
Dod1010 wrote:I think the only possible fly in the ointment is regulation. ...

There is at least one other possible fly in the ointment: poorer investment performance and/or greater increases in longevity than their actuaries have assumed. And of course, those are exactly the situations in which a HYPer is most likely to want their HYP to perform relatively well...

Not saying "don't invest in life insurers", more "beware of investing too much in life insurers". And "beware of rose-tinted spectacles": the belief that a company has only one way it can go wrong is only slightly less rose-tinted than the belief that it has none at all...

Gengulphus


Yes, my husband lived considerably longer than expected, thanks to my care and battling with the medics, and who knows how long I might live (already 80) with my two thirds residual benefit from his annuity? Possibly not very long, after battling with probate and all the financial headaches, but you never know.. One comment I would like to make (though I daresay it is irrelevant to financial implications} is that I found Phoenix the slowest, least sympathetic, least efficient of the annuity companies I had to deal with following my husband's death.

jackdaww
Lemon Quarter
Posts: 1120
Joined: November 4th, 2016, 11:53 am
Has thanked: 1047 times
Been thanked: 168 times

Re: Phoenix Group Final Results

#40620

Postby jackdaww » March 22nd, 2017, 10:11 pm

i also have a note on my phoenix file - dont know the source ---

""gives poor service and poor outcomes for clients"".

:(

blobby
2 Lemon pips
Posts: 151
Joined: November 7th, 2016, 10:13 am
Has thanked: 78 times
Been thanked: 16 times

Re: Phoenix Group Final Results

#41034

Postby blobby » March 24th, 2017, 10:16 am

Having been really positive about Phoenix I then come to a realisation that I don't really understand the business when reading the final results. I have been considering selling out as a result but today I'm more positive again due to a director buying a meaningful number of shares:

http://uk.advfn.com/stock-market/london ... g/74158748

£63,600 investment by a director seems like a bigger vote of confidence than I usually see. This is from non-executive director Wendy Mayall who I hope understands the books better that I do.

Alaric
Lemon Quarter
Posts: 3630
Joined: November 5th, 2016, 9:05 am
Has thanked: 13 times
Been thanked: 718 times

Re: Phoenix Group Final Results

#41327

Postby Alaric » March 25th, 2017, 5:34 pm

As a follow-up to the comments about regulatory risk, there's an article on the Telegraph website about pension transfers for under 55s.

http://www.telegraph.co.uk/pensions-ret ... tch-young/

It doesn't mention Phoenix, but does mention Abbey Life who are a recent Phoenix acquisition. It goes on to note the prospect of an FCA crackdown.

Pension companies face the prospect of yet another crackdown by the FCA unless they better understand how their customers are faring. Six firms were referred to the watchdog’s enforcement division a year ago over their unfair treatment of long-standing customers.

Senior management at the providers – which included Old Mutual Wealth, as well as Abbey Life, Countrywide, Police Mutual, Prudential and Scottish Widows – were found “not to have a grasp” of how these customers were being treated.


Return to “High Yield Portfolios (HYP) - Practical”

Who is online

Users browsing this forum: MSN [Bot] and 15 guests