Meteor gets FSA approval for new company

The new entity, Meteor Investment Management, will ringfence the assets of its own plans and those it administers for third-parties. A percentage of the management fees will be paid to the new company allowing the plans to run until maturity in the event the plan manager no longer exists. Graham Devile, Meteor managing director, says the firm put in its application to the FSA at the start of the year, before the demise of plan managers such as Keydata and NDFA. However it has taken until this month for FSA to approve the new company. Further details on Meteor Investment Management ...