Money Marketing
1 April 2009

AMI says broker numbers to halve by end of year

2 Apr 2009

The Association of Mortgage Intermediaries is forecasting a 50 per cent drop in mortgage brokers from 30,000 in 2007 to just 15,000 by the end of 2009.
150,000 Are missing out on enhanced annuities

2 Apr 2009

UK retirees could be missing out on up to £56.6m of retirement income each year by not buy- ing an enhanced annuity, according to LV=.
A delicate balancing act

1 Apr 2009

Enhanced transfer value exercises can be expected at ever bigger pension funds. The challenge is to manage risk properly says James Phillipps
A helping hand

1 Apr 2009

Rehabilitation services can shave pounds off employers’ payroll and recruitment costs, as Stephanie Spicer discovers
Abbey could pay brokers to sell current accounts

2 Apr 2009

Abbey is considering paying advisers for selling current accounts and other non-advised products alongside mortgages.
ABI looks to tackle cash confusion

6 Apr 2009

The Association of British Insurers is seeking to make money market funds clearer and safer for investors with proposals for a new fund sector.
ABI proposes new money market sector

6 Apr 2009

The Association of British Insurers is consulting on proposals for a new fund sector to help consumers choose the right money market fund to invest in.
ABI welcomes G20 agreement

3 Apr 2009

The Association of British Insurers has welcomed the G20 agreements reached in London yesterday.
Adviser Fund Index

2 Apr 2009

Merrill Lynch global fund manager survey data for March indicated a sharp upturn in investor sentiment. The poll showed managers at their most bullish on the prospects for economic growth since December 2005.
Advisers get video to back Omo message

2 Apr 2009

Living Time has sent personalised video messages to the top 200 adviser firms calling for them to back its Offer More Options campaign.
Aegon enhances group pensions proposition

1 Apr 2009

Aegon Scottish Equitable is enhancing its group pensions Flexi-menu proposition by allowing members who receive an active member discount (AMD) to keep their reduced annual management charge on a permanent basis when they reach their 10 year plan anniversary.
Aegon looks at filling gaps with UK range

2 Apr 2009

Aegon is planning potential launches in the UK equity income and UK long/short sector.
Aifa and Pru launch retirement wealth study

3 Apr 2009

The Association of Independent Financial Advisers and Prudential UK have launched a joint study into income and wealth in retirement.
Aifa fears heads will roll under outcome regime

2 Apr 2009

The Association of Independent Financial Advisers has warned that the FSA's new outcome-focused regime could lead to "Henry VIII-style" supervision.
Aifa's Chris Cummings gets behind Living Time's OMO campaign

6 Apr 2009

Aifa director general Chris Cummings and the heads of a number of large IFA firms have signed up to Living Time's offer more options campaign.
Annuity row grows

2 Apr 2009

Just Retirement chief executive Mike Fuller has joined Annuity Direct director Stuart Bayliss in his criticisms of life offices' single-tied annuity deals.
Arch cru suspension to be extended

7 Apr 2009
Ascentric urges more advisers to carry out due diligence on wrap provider

2 Apr 2009

Ascentric is urging more advisers to carry out regular due diligence on the platforms they use to make sure they are fit for purpose.
Asia Pacific and Gem strongest in March

6 Apr 2009

Lipper’s monthly retail fund review has identified the Asia Pacific excluding Japan and Global Emerging Markets (Gem) as the best performing Investment Management Association (IMA) sectors in March.
Asset facet

2 Apr 2009

I am writing this from a busy investment conference in snatched moments between presentations given by various groups seeking to shed some light on the last 12 months.
Axa pulls initial commission from corporate pension products

2 Apr 2009

Axa is to withdraw initial commission from its corporate pension products as it moves to a fee-based model.
Axa shuts office in protest fears

2 Apr 2009

Axa is closing its Aldgate office in London on Wednesday and Thursday this week amid concerns over the G20 protests. Applications or correspondence that needs to be received by Friday must be sent to its Bristol address.
Banks drag FTSE below 4,000

7 Apr 2009

The FTSE 100 has fallen below 4,000 as fresh fears over toxic assets spark a sell-off in the banking sector.
Barclays Global Investors -iShares MSCI Emerging Markets SmallCap

6 Apr 2009

Barclays Global InvestorsiShares MSCI Emerging Markets SmallCap
Barclays Global Investors -iShares MSCI GCC Countries ex-Saudi Arabia

2 Apr 2009

Barclays Global InvestorsiShares MSCI GCC Countries ex-Saudi Arabia
Barclays is appealing to Competition Appeal Tribunal over PPI ban

3 Apr 2009

Barclays is appealing to the Competition Appeal Tribunal against the Competition Commissions decision to ban point of sale PPI.
Baring Asset Management - Multi-Asset Fund

1 Apr 2009

Baring Asset ManagementMulti-Asset Fund
Baring harvests agriculture

6 Apr 2009

Baring Asset ManagementBaring Global Agriculture Fund
Baring multi-asset to beat inflation

1 Apr 2009

Baring Asset Management has brought out a retail multi-asset fund that aims to beat inflation with a lower risk than pure equity funds.
BDO Stoy Hayward rebrands investment arm

6 Apr 2009
Beemer light

2 Apr 2009

There is an alternative to Paul Lothian's suggestion of a reduction in the level of protection to help the PPF balance its books (Money Marketing, February 12).
Bespoke suits a bounceback

2 Apr 2009

Providers and advisers have tipped bespoke structured products for growth as investors seek out flexible products to capitalise on a market bounce.
BlackRock launches European absolute alpha fund

1 Apr 2009

BlackRock has launched a European absolute alpha fund under the management of Vincent Devlin.
Blue Sky Asset Management - Smart Income Plan

1 Apr 2009

Blue Sky Asset ManagementSmart Income Plan
Bond boom fears as funds double

2 Apr 2009

Advisers have raised concerns over the amount of cash pouring into UK corporate bond funds after some have almost doubled.
Bradford & Bingley writes off £500m

2 Apr 2009

Former Bradford & Bingley chief executive Steven Crawshaw elected to receive a pension lump sum of £412,500 and a reduced pension of £105,318 a year. B&B has revealed mortgage write-offs of over £500m in its annual results.
Broker bundle conundrum

3 Apr 2009

Abbey’s proposals to bundle mortgage deals with other products like current accounts have been greeted with cautious optimism by brokers.
Broker Talkback

2 Apr 2009

In future, will you be more cautious on advising clients into funds investing in illiquid assets?Yes 63%No 37%
Budget must ban stamp duty, says Boulger

1 Apr 2009

Stamp duty should be temporarily banned in this year’s Budget in an attempt to stimulate the housing market, says John Charcol’s Ray Boulger
Bully off

2 Apr 2009

Ethical investment has proved popular with many members of the public. After the recent debacle in the markets occasioned by the lack of ethics in investment banking, the topic of ethics is on everyone's lips.
Bupa IP enhances CI proposition

2 Apr 2009

Bupa Individual Protection is enhancing its critical illness product by making a number of key changes.
Business rate U-turn welcomed by businesses

1 Apr 2009

Businesses welcomed the last minute U-turn by Chancellor Alistair Darling in which he deferred a 5 per cent increase in business rates, reducing it to 2 per cent instead.
Canada Life cuts lives required

1 Apr 2009

Canada Life Group Insurance is reducing from five to three the minimum number of lives required in each benefits category created through its online CLASS system.
Cap-ad rules could lead to money hoarding

2 Apr 2009

Standard Chartered has warned that the FSA's proposed counter- cyclical changes to capital adequacy could lead to a "wretched" system of money hoarding.
Cardif Pinnacle Investments - Guaranteed Bond

6 Apr 2009

Cardif Pinnacle InvestmentsGuaranteed Bond
Carl Stick removed from Wealth 150

7 Apr 2009
Changes to pensions policy needed or ethnic minorities and disabled are in danger of being left behind says PPI

1 Apr 2009

Disabled people and people from ethnic minorities are likely to be left behind unless changes are made to pensions policy, according to a Pensions Policy Institute study.
Chartwell Group teams with Ascentric to launch Sipp

7 Apr 2009

Chartwell Group has chosen Ascentric to provide its soon to launch Investor Centre platform.
Chinese economy set to bottom by the middle of the year

7 Apr 2009
CML supports repo rethink to protect tenants

2 Apr 2009

The Council of Mortgage Lenders has backed a campaign aimed at getting better protection for tenants who face eviction because their landlord is repossessed.
Commercial vehicle

2 Apr 2009

This week, I move away from the stockmarket, which at least for the time being is showing signs of life. Now is the time to look once again at the commercial property market. Some of you may know that I have been outspoken in my negative view on this market for quite a few years.
Communication not confusion

1 Apr 2009

Group pensions need to become as easy to use as an iPhone says Ian McKenna, director of the Financial Technology Research Centre
Conforto raises £1m for business growth

1 Apr 2009

Conforto Financial Management has raised almost £1m from existing and new investors to finance organic growth at the firm and possible new acquisitions.
Consensus maker

2 Apr 2009

Relationship breakdown can be a traumatic experience whenever it happens. In the current economic climate, when resources are already under strain, conflict over the division of the assets or the arrangements for any children through adversarial court proceedings only makes life more difficult.
Consolidate with destiny

2 Apr 2009

The reasons behind the FSA's desire for IFA businesses to be better capitalised, for advisers to be better qualified and for initial commission to be consigned to history have already been commented on widely in the press. Implementation of these measures, in line with last year's retail distribution review, will undoubtedly help to professionalise and raise the esteem of the IFA industry.
Consultation on key employer issues made to wait

1 Apr 2009

Key issues for employers such as scheme certification, qualifying scheme criteria and compliance are not to be addressed until later in the year, despite the DWP issuing two consultations, covering the automatic enrolment process and employer duties from 2012, last month.
Co-op banking arm posts 70% profit rise

3 Apr 2009

The Co-operative Financial Services’ banking arm has posted a 70 per cent profit rise in underlying profits to £85.6m for 2008 from 50.4m in 2007.
Could Henry VIII regulation rein in future IFA trailblazers?

3 Apr 2009

Earlier this week, Aifa director general Chris Cummings warned the FSA’s recent change in regulatory focus could lead to Henry VIII-style supervision from the regulator.
Counterparty call may bring more openness

2 Apr 2009

Increasing investor demand for transparent counterparty disclosure may drive changes for the structured product industry, according to Bestinvest.
Court out

1 Apr 2009

The FSA and the life offices caught up in the Lautro debacle have a long month ahead of them while they wait for the High Court to consider the appeal against naming those involved.
Cru asks FSA to back changes

2 Apr 2009

Cru founder Jon Maguire is calling on the FSA to allow the firm to restructure its £400m Oeic range after claiming Capita would not sanction the move.
Cru funds’ underlying assets down up to 30%, says Arch

7 Apr 2009

Arch’s fair value estimate for one of the Guernsey-listed cell companies under its funds is currently 30 per cent below its last published net asset value, Money Marketing has learnt.
Cru investor committee to investigate possible regulatory breaches by ARCH or Capita

2 Apr 2009

Cru’s new investor committee is to consider whether there has been any regulatory breach by ARCH or Capita.
Cru invites IFAs to discuss future of fund range

1 Apr 2009

Cru has invited IFAs to a meeting next Monday to discuss the future of the ARCH cru fund range.
DA confidential

2 Apr 2009

In the next two months, the FSA will set its adviser fees for 2009/10, prompting many directly authorised mortgage brokers to re-evaluate whether to continue to go it alone or sign up to a network.
Darling gives firms more time to pay business rates

1 Apr 2009

Chancellor Alistair Darling has scaled back the 5 per cent rise in business rates due today to 2 per cent for this year.
Darling says regulation must not hit innovation

2 Apr 2009

Chancellor Alistair Darling has warned that financial services regulation must not impinge on competition and innovation.
DC pensions plunge 25%

2 Apr 2009

Defined-contribution pension assets have lost 25 per cent of their value, or £140bn, since the start of the credit crunch, according to Aon Consulting.
Deal talks continue for resilient Just Retirement

2 Apr 2009

Just Retirement has confirmed that talks are ongoing about a possible offer for the group.
Delay likely on liquidity standards

2 Apr 2009

The FSA may delay its strengthening liquidity standards consultation paper until Q4. It was due to release a feedback statement in April with rules implemented by October 2009 but BDO Hoy Stayward says it is now likely the rules will only be implemented "well into 2010".
Discretionary tips

2 Apr 2009

It is quite a common event for parents or grandparents to put money aside for new born or young children. Some go further and specifically set aside funds to pay for further education in the expectation that the child will attend university. The question is what is the best method of holding investments for up to 18 years?
Downturn boosts benefits' appeal

1 Apr 2009

Economic instability has raised the profile of benefits amongst consumers, with 39 per cent saying they are more important to them in the current market, according to research from Canada Life Group Insurance.
Duet takes Heart of Africa assets

6 Apr 2009

Duet Group, a London-based alternative asset manager, has launched an Africa fund after its purchase of the assets in New Star’s Heart of Africa.
Early start would pay off

2 Apr 2009

Employees delaying pension saving until personal accounts come into force in 2012 could reduce their final pension pot by £175,000, warns Fidelity International.
Eight per cent of what?

1 Apr 2009

Employers and the Government need to be clear about how much pension personal accounts will actually deliver. John Greenwood investigates
Equity cult in the dock

1 Apr 2009

A decade of negative real returns for equities has triggereddebate on whether shares should remain the core component of pensions. Paul Farrow investigates
EU may end naming conflict

2 Apr 2009

Problems over counterparty disclosure could be resolved with the forthcoming review of the EU prospectus directive, according to NDFA.
Evolution

1 Apr 2009

Arguably, never before have the life companies and the fund management houses been more closely aligned. Nick Groom discusses this new and interesting collaboration, which combines the platform strengths of the pension providers and the fund management capabilities of the investment houses, as DC schemes begin to mature and assets grow to substantial levels.
Exclusive Connections updates M2000

2 Apr 2009

Exclusive Connections has increased the proc fees and product ranges for its newly acquired M2000 mortgage club.
Expect heavier enforcement of existing taxes in Budget, says Baker Tilly

2 Apr 2009

Stronger enforcement of existing taxes and anti-avoidance measures are likely to be a central focus in the forthcoming Budget, according to tax specialist Baker Tilly.
Face the facts on fsa to plan the way ahead

2 Apr 2009

There has been much talk about the FSA's recent performance, coupled with calls for reform. It has even been suggested that the FSA should be dismantled or abolished.
First mortgage product increase in eight months, says Mortgage Brain

2 Apr 2009

The number of live mortgage products has increased for the first time in eight months, according to Mortgage Brain.
Fixed loan rates tumble after gilt sale fails

2 Apr 2009

Brokers have called the floor in fixed-rate mortgages as gilt yields reacted to the Government's first auction failure in nearly a decade.
Flex through the back door

1 Apr 2009

Some employers are looking to switch standalone group riskschemes to flex arrangements, finds Edmund Tirbutt
Fortis UK records £2.7m in new life annual premiums

3 Apr 2009

Fortis Life UK has recorded £2.7m in new annual premiums since its launch in July last year.
FOS reports "dismal" complaints handling

6 Apr 2009

Consumers are increasingly suffering “dismal” treatment from financial businesses when they complain about a product or service, according to the Financial Ombudsman Service.
FSA bans adviser for quality and compliance failings

6 Apr 2009

The FSA has banned Worcestershire financial adviser Norman Mark McCance for quality, suitability of advice and compliance failings at his firm, Penn Financial Services Unlimited.
FSA needs to add identity clarity

2 Apr 2009

Morgan Stanley has called on the FSA to provide solid guidance on the EU prospectus directive rules and the legal consequences of disclosing the identity of counterparties to advisers.
FSA says banks should mimic utility companies

3 Apr 2009

The FSA has called on banks to be more realistic in their expectations of investment performance and behave more like utility companies in mapping returns against risk.
FSA tells firms to look at underlying liquidity

2 Apr 2009

The FSA is warning fund managers to consider the liquidity of underlying investments after recent fund suspensions.
FSA wins £4m case against share trading firm

2 Apr 2009

The FSA has fined share traders Winterflood more than £4m after market abuse at a Financial Services and Markets Tribunal.
FSA wins case to ban former AltSol CEO from financial services

6 Apr 2009

The FSA has won its case before the Financial Services and Markets Tribunal to ban Alternative Solutions chief executive officer Milan Vukelic from working in the financial services industry.
FTSE 100 slips after G20 high

3 Apr 2009

The FTSE 100 opened lower today at 4,111 after closing 4 per cent higher on Thursday at 4,125 as G20 hysteria subsided.
FTSE closes 4 per cent higher

2 Apr 2009

The FTSE 100 has closed 4 per cent higher at 4,125.
FTSE closes below 4,000

6 Apr 2009

The FTSE 100 has closed below 4,000 after mining stocks reined back the index from earlier gains made in the banking sector.
FTSE opens lower ahead of G20

1 Apr 2009

The FTSE 100 started the month lower at 3,923 down from its previous close of 3,926 with equities unable to maintain the rally enjoyed in Tuesday’s session.
Fund of hedge funds discount to NAV narrows from 30% to 10%

2 Apr 2009

Brevan Howard's FTSE 250-listed fund of hedge funds BH global has reported that its discount to net asset value has narrowed from 30 per cent to 10 per cent at the end of last year.
Fury at Treasury minister's Equitable 'speech of shame'

2 Apr 2009

Treasury Economic Secretary Ian Pearson has been accused of launching an "extraordinary attack" on the public administration select committee over the Equitable Life debacle.
G20 leaders agree to $1tn fiscal stimulus

3 Apr 2009

G20 leaders agreed to a $1tn fiscal package in a bid to stimulate global economic growth at the one-day summit yesterday.
G20 protesters smash windows at RBS

1 Apr 2009
Get disengaged

2 Apr 2009

The End is Nigh. Judging by some of the conversations we have been having with practitioners over the past few weeks, the perfect storm of the crunch, recession and changes due to the retail distribution implementation programme is hitting home hard.
Gilt issues

2 Apr 2009

I spent last week gazing out over the North Sea, counting the ships in and out of Felixstowe Docks. That there are fewer of them is clear. World trade has been strangled by the double whammy of poorer consumers in the West and a lack of credit to finance inventories. It appears to be rapid de-stocking that has caused the very sharp downturn in global economic activity.
Gilts reward investors in fourth quarter

6 Apr 2009

Investors in gilt funds were well rewarded in the fourth quarter of 2008, according to an annual review of the fixed interest sector from Standard & Poor’s (S&P) Fund Services.
GLG Partners completes purchase of SocGen Asset Management UK

6 Apr 2009

Societe Generale Asset Management has completed the sale of its UK arm to GLG Partners.
Government failed to spot Rock arrears' levels

2 Apr 2009

MPs have accused the Government of failing to spot that Northern Rock's arrears' levels were understated before taking the bank into public ownership.
Group corporate Sipps the preferred option for one in four companies

1 Apr 2009

One in four companies are looking to use group corporate Sipps as their main pensions vehicle, according to research from PricewaterhouseCoopers.
Growing demand drives expansion at The Premier Choice Group

3 Apr 2009

Towcester based health insurance intermediary, The Premier Choice Group, is expanding into new offices in response to what it says is growing demand for protection products in the downturn.
Hargreaves drops Rathbone income; adds M&G strategic bond to Wealth 150

7 Apr 2009

Hargreaves Lansdown has removed the Rathbone income fund and added M&G's strategic bond fund to its Wealth 150 list.
Heading for the security door

1 Apr 2009

As the economy takes us to hell in a handcart, employeesare finally starting to value group income protectionsays Simon Derby, director at i2 Healthcare
Henderson barters £8m discount for New Star

2 Apr 2009

Henderson is to acquire New Star Asset Management for £8m less than the figure previously stated.
Henderson’s New Star cash offer receives shareholder approval

6 Apr 2009

Henderson’s recommended £107m cash offer for New Star has been declared wholly unconditional by its shareholders.
High Court to take over a month on Lautro 19 ruling

2 Apr 2009

The High Court will take over a month to decide whether the FSA's appeal to avoid naming the Lautro 19 has been successful.
Housing sector could lead financials' turn-round

2 Apr 2009

M&G bond manager Richard Woolnough believes the housing market could lead the turn-round in financials but it will take time.
HSA sales boost

1 Apr 2009

Sales of HSA's employee paid Health Cash Plan rose 25 per cent in the final quarter of 2008 compared to the same period in the previous year.
HSBC selects 1st - The Exchange for POS system

1 Apr 2009

HSBC Bank has unveiled its plans to integrate 1st - The Exchange’s Exweb system into its point of sale system from October.
HSBC will assess broker role

2 Apr 2009

HSBC has refused to rule out extending its mortgage products to the adviser market if its seven-month trial with John Charcol proves successful.
Hymans Robertson dives down to earth

1 Apr 2009

Six members of Hymans Robertson's Birmingham office and one member of the firm's HR team raised over £5,000 for the Birmingham Focus on Blindness charity through a sponsored sky-dive.
Hymans Robertson's new partners

1 Apr 2009

Five new partners have been appointed across Hymans Robertson's expanding investment practice and its longevity risk team.
IFAlliance coalition looks to treble member base

1 Apr 2009

North of England IFA coalition IFAlliance is looking to treble its member firm base over the next few years.
IMA may redefine Money Market sector

6 Apr 2009

The Investment Management Association (IMA) is considering changing the definition of the Money Market sector.
Income Protection Task Force takes ABI to task

7 Apr 2009

At this morning's launch of the Income Protection Task Force's white paper, the ABI was attacked for failing to show up, with one member branding the trade body's absence "embarrassing".
Innovation from Blue Sky

1 Apr 2009

Blue Sky Asset Management has taken a new approach to the provision of income and capital protection with the launch of its smart income plan.
Insight aims for 8% with income fund

2 Apr 2009

Insight Investment has set up a new equity income fund managed by Tim Rees and Richard Lloyd targeting an annual yield of 8 per cent.
Insight Investment - UK Equity Income Booster Fund

6 Apr 2009

Insight InvestmentUK Equity Income Booster Fund
Insight sets floor with its Stop Think system

2 Apr 2009

Extreme market conditions have led Insight Investment's multi-asset team to establish Stop Think, an automatic review system for investments which fall or rise beyond expectations.
Insurers' accounting method may be flawed

2 Apr 2009

The market consistent embedded value reporting principles could be altered after the body that designed them claimed they could prove "misleading" in the current market.
Intelligence wins 20-year 4.99% fix

2 Apr 2009

Mortgage Intelligence has secured an exclusive 20-year fixed-rate mortgage with Stroud & Swindon's intermediary arm In The Loop.
Investec Asset Management - GSF Investment Grade Corporate Bond Fund

1 Apr 2009

Investec Asset ManagementGSF Investment Grade Corporate Bond Fund
Investec looks to investment-grade bonds

6 Apr 2009

Investec Asset Management has created the GSF investment grade corporate bond fund by changing the name and objective of its dollar denominated high income bond fund.
IoM escapes G20 tax haven blacklist

3 Apr 2009

The Isle of Man has avoided being listed on the G20 tax haven black list.
IPTF publishes second white paper

7 Apr 2009

The Income Protection Task Force has published its second white paper outlining a number of proposals designed to improve the sale of income protection.
Jon Bennett

2 Apr 2009

Aegon Asset Management director of retail fund sales and marketing Jon Bennett says an inspirational economics teacher set him on the path to financial services.
JPMorgan goes for US big guns

6 Apr 2009

JPMorgan Asset ManagementUS Equity Income Fund
Keep it in the family

2 Apr 2009

Now is the time to have a rethink about the advantages of family income benefit and increase the use of this undersold product. Why? Because not only is it often best advice for a client wanting to protect their family but it is also even more suitable during these tough times due to interest rates being so low.
Keydata - Extra Income Plan 26

3 Apr 2009

KeydataExtra Income Plan 26
L&G launches POS protection tool

6 Apr 2009

Legal & General has launched an online point-of-sale business system enabling advisers to manage their own cases end to end.
Latin America fund for First State

2 Apr 2009

First State Investments is to launch a Latin America fund, targeting UK and European wholesale and institutional investors. It will be managed by Jonathan Asante and Millar Mathieson with Alan Nesbit as deputy fund manager.
Legislation needed now to enable companies to offer pensions

1 Apr 2009

Legislation is needed to allow employers to offer staff pensions that do not place unbearable risk upon them says PricewaterhouseCoopers.
Lighthouse Group reports loss of £8.5m

6 Apr 2009
Lincoln absorbs pledge cost

2 Apr 2009

Lincoln Financial Group insists it has no plans to put up prices on the guarantees offered on its i2 Live product or reduce the maximum equity.
Liontrust goes with the flow

2 Apr 2009

The newsflow from Liontrust in the first half of the year has been raising many eyebrows in the investment industry, given its reputation as one of the more stable investment management businesses in the UK.
Liontrust putting faith in its own fund stars

2 Apr 2009

Liontrust chief executive Nigel Legge has suggested that the investment processes of outgoing star managers Jeremy Lang and William Pattisson are outdated and predicts that their replacements will outshine them.
Lloyds bond offer sees 65 per cent take-up

2 Apr 2009

Lloyds Banking Group has seen 65 per cent take-up of its bond offer aimed at swapping £7.5bn of bonds for higher quality debt to improve its balance sheet.
London & Colonial - Offshore Open Bond

1 Apr 2009

London & ColonialOffshore Open Bond
Longbow launches Sipp venture fund

6 Apr 2009

Longbow Capital, the healthcare venture investor has launched a Sipp venture fund.
Macquarie wrap goes live with first firm

1 Apr 2009

Australian financial services firm Macquarie has launched its wrap account into the UK market with one client live and 11 more to join over the next few months.
Make sure exactly what is in the tin

2 Apr 2009
Managed accounts could lead to problems

6 Apr 2009

Fund of hedge fund managers expect the use of managed accounts to increase but some are concerned that this could lead to problems in the future.
Manager Focus: Glen Pratt

7 Apr 2009
Manager focus: Laurence Taylor

6 Apr 2009
Market consistent confusion

2 Apr 2009

Insurers are in limbo at the moment after the body that designed the Market Consistent Embedded Value reporting standard announced the principles could be changed.
Menu master

2 Apr 2009

When a new boss takes the helm at the newspaper you write for, a journalist has two instinctive thoughts: "Will I get the chop?" This is followed shortly afterwards by: "Can I screw a pay rise out of him?"
Meteor launches pooled deposit account as cash alternative

1 Apr 2009

Meteor Capital Holdings has linked up with actuarial consultancy firm Intersolve to launch a 3-month notice deposit plan.
Money Wise acquires Lee & Co adviser firm

6 Apr 2009

Money Wise Financial Advisers has acquired Cambridge-based IFA firm Lee & Co.
MPs attack IFA advice on offshore savings

3 Apr 2009

Treasury select committee MPs have criticised the quality of advice given by IFAs in the run-up to the Icelandic bank failures.
MPs call for FSA audit

2 Apr 2009

MPs have told the Treasury it should have ordered a full audit of the FSA by the National Audit Office.
Munich Re confirms UK operation plans

1 Apr 2009

Munich Re has confirmed industry reports that it is in the early stages of setting up a group insurance operation in the UK.
Nationwide reports surprise house price bounce

2 Apr 2009

Nationwide has revealed a "surprise bounce" in its latest House price Index as prices rose by 0.9 per cent in March.
Nationwide takes on Dunfermline books

2 Apr 2009

Nationwide has taken control of Dunfermline Building Society's £2.3bn retail deposits, £1.02bn residential loan book and 34 branches. It is not taking over the social housing portfolio or equity-release book.
NDFA - Defined Income Plan March 09

1 Apr 2009

NDFADefined Income Plan March 09
Network Data unable to set payment date for missing commission

1 Apr 2009

Network Data has informed its appointed representatives that it is unable to set a date by which it expects to pay missing commissions.
Networks clash with clubs over quantity versus quality

2 Apr 2009

Home of Choice has hit out at mortgage clubs for pushing quantity over quality mortgage business during the economic downturn.
Networks' reluctance holding back release

2 Apr 2009

Mortgage networks' reluctance to promote equity release is stifling growth in the sector, specialists have claimed.
Neutral ground

2 Apr 2009

There has been somewhat of a stabilisation in European equities over the last month. In early March, markets dipped to a level 58 per cent below the 2007 high. Since then, they have bounced by 14.5 per cent and stand today around 6.5 per cent higher than one month ago.
Nevsky's Taylor looks to China and Russia

2 Apr 2009

Nevsky fund co-manager Martin Taylor is still cautious on markets despite the rally of the past few weeks.
New Star heart of Africa closes - Allsopp not joining Henderson

2 Apr 2009

New Star has closed its heart of Africa fund after selling the assets to an unnamed purchaser.
New Star's Trevor Green to join Henderson

1 Apr 2009

New Star UK growth and select opportunities manager Trevor Green is to join Henderson at the completion of the proposed merger.
New wave of rights issues

2 Apr 2009

Credit Suisse UK mid-250 fund manager Justin Jordan believes we are only halfway through a surge of rights issues in the UK market.
Norwich Union Life to cut 1100 jobs

2 Apr 2009

Norwich Union Life is set to cut 1100 jobs by the end of the year in a bid to improve efficiency.
NU continues to back initial commission for GPP schemes

3 Apr 2009

Norwich Union has reaffirmed its support of the payment of initial commission on group personal pension schemes.
NU Healthcare enhances application process

6 Apr 2009

Norwich Union Healthcare has introduced an electronic application and teleinterviewing process to its income protection solutions product.
NU pulls with-profits bond guarantee

3 Apr 2009

Norwich Union is set to withdraw the inflation-proof guarantee on its with-profits bond from April 17.
NU takes over at the top for equity-release sales

2 Apr 2009

Norwich Union has leapfrogged Prudential in equity-release sales volumes with total revenues for 2008 up by 15 per cent at £249m from £217m in the previous year.
Obama on auto pilot

2 Apr 2009

A retirement adviser to US president Barack Obama believes the UK's personal accounts pension scheme will deliver an inclusive system with significant benefits.
OECD removes quartet of tax havens from blacklist

7 Apr 2009

The Organisation of Economic Co-operation and Development has taken all four countries from its tax haven blacklist.
OFT overturns Foxton’s appeal over unlawful lettings contracts

2 Apr 2009

The Office of Fair Trading has overturned an appeal from Foxtons and will go ahead with proceedings against what it deems are unfair clauses in its contracts.
Omnis launches distribution fund

6 Apr 2009

Omnis Investments has added to its multi-manager range with the launch of a multi-asset distribution fund.
Omnis launches Distribution fund

6 Apr 2009

Openwork and Octopus Investments have launched a distribution fund under the Omnis Investments brand.
Over-reaching ambition?

1 Apr 2009

Personal accounts cannot be allowed to become a benchmark for charges says Rachel Vahey, head of pensions development, AEGON UK
Owen James sets new mark for IFA survey

2 Apr 2009

Owen James has launched its third IFA performance benchmark, an annual survey identifying the key value drivers of adviser business models.
Pearl defers £33m interest payment to bondholders

1 Apr 2009

Hugh Osmond’s Pearl Group has deferred making a £33m interest payment on £500m worth of bonds.
Pease joining Henderson

2 Apr 2009

New Star European fund manager Richard Pease is to join Henderson with the rest of the firm's European team.
Pension trustees doing their job

1 Apr 2009

The pressure of the recession is not deterring lay pension trustees from doing their job, according to a survey by Aon Consulting.
Pensions need to be fair for all

2 Apr 2009

It seems that someone with common sense has taken an effective role within the FSA, as I read with great pleasure of its decision to cease accruals to the FSA's defined-benefit pension scheme - albeit this will not take place until March 31, 2010.
PFS annual conference to be held Nov 25-26

7 Apr 2009

The Personal Finance Society will host its annual conference in London on November 25 - 26, chaired by Seven Investment Management director Justin Urquhart Stewart.
Pink Home Loans -Abbey For Intermediaries 3.99% Two-Year Fixed

7 Apr 2009

Pink Home LoansAbbey For Intermediaries 3.99% Two-Year Fixed
PKF dubs HMRC domicile and remittance guidance as ‘dangerous’

1 Apr 2009

PKF has warned that HM Revenue & Customs new guidance on rules for non-UK domiciled individuals could potentially mislead some taxpayers.
Plum role

1 Apr 2009

Setting up a new group risk provider from scratch was all the challenge Jonathan Plumtree needed to leave Unum for Zurich. John Greenwood finds out more
PMS to offer Complete Conveyancing

2 Apr 2009

PMS has launched a new partnership with conveyancing service provider London & European.
Police called to Network Data cash protest

2 Apr 2009

Police were called to Network Data's headquarters last week after 11 of the firm's appointed representatives went to deliver demands for alleged unpaid commission.
Popular demand

2 Apr 2009

In markets such as today, funds of funds managers are leaning on experienced managers as the best able to produce returns, with older names accounting for well over half of their portfolios these days.
Positive aspects

2 Apr 2009

Spring is my favourite season. The first warm rays of sunshine and the profusion of colour from the spring flowers lift my spirits - and people smile more. So, while in a springtime mood, I want to take a more optimistic view of the world of financial services and talk about something positive.
PosSol presses for FSA to crack down on stock firms

2 Apr 2009

Positive Solutions has called for the FSA to crack down on stockbrokers' business models to avoid further defaults amid rising Financial Services Compensation Scheme levies for investment advisers.
Price pressure

2 Apr 2009

FSA chairman Lord Turner has said in his review that lenders will be forced to hold more capital in the future to avoid a repeat of the banking crisis. Some experts predict that consumers will bear the cost of this move through higher mortgage rates.
Productivity key differentiator for new Munich Re group risk arm

3 Apr 2009

The new life office being set up by Munich Re will look to differentiate itself from competitors by targeting improved distributor productivity says John Ritchie, the man heading up the new operation.
Prudent shall ensure value

2 Apr 2009

Last week, I focused on the importance and potentially strong commercial benefit in adopting a "provocation-based" approach to doing business with existing clients and to acquiring new clients - of the right type.
Prudential provides income choice

1 Apr 2009

PrudentialIncome Choice Annuity
PSigma bullish on US equities

1 Apr 2009

PSigma’s James Abate is bullish on US equities for 2009 and believes the S&P 500 could be up by over 20 per cent by the year end.
RBS to axe up to 9,000 more jobs

7 Apr 2009

The Royal Bank of Scotland will axe up to 9,000 jobs over the next two years, half of those in the UK.
RBS to cut more jobs

3 Apr 2009

Royal Bank of Scotland chairman Philip Hampton has revealed that the bank will be cutting further jobs on top of the 2,700 already announced.
RBS to offer 90% deals through intermediaries

1 Apr 2009

RBS Intermediary Partners is launching a range of mortgages with a maximum loan to value of 90 per cent.
RDR will boost structured knowledge

2 Apr 2009

The retail distribution review will help improve IFA understanding of structured products, according to Helm Godfrey managing director Bruce Wilson.
Recovery position

2 Apr 2009

Rathbones boasts one of the oldest brands in financial services, originally founded in 1742 as a Liverpool timber and shipping merchant.
Risk management crucial says Insight's multi-asset team

6 Apr 2009

Insight Investment says its risk management team is crucial to running its multi-asset funds, particularly when pricing structured products in volatile markets.
Royal London merges Bright Grey and Scot Prov management teams

1 Apr 2009

Royal London is merging the management teams of its protection businesses Bright Grey and Scottish Provident.
Salary sacrifice reaps savings for employers with large pension schemes

7 Apr 2009

Employers can reap cost savings from pension salary sacrifice in under a year if the employee pension contributions are in excess of £500,000 per annum, according to Watson Wyatt.
Searing row over Willis plans for Chicago tower

1 Apr 2009

The Sears Tower, the tallest building in the western hemisphere is to be renamed Willis Tower when London-based Willis Group takes over a tenancy at the property, although the move has angered some residents in its Chicago home.
SGAM sale complete

6 Apr 2009

Société Générale Asset Management (SGAM) has completed the sale of its asset management business to GLG Partners, the group announced this morning.
Share and sacrifice

2 Apr 2009

I work for a pretty generous employer and am told I have a decent package of flexible benefits. I am not sure whether I am making the most of it though. I am a higher-rate taxpayer and am married with two kids. What should I be doing?
Shareholders to vote on F&C commercial property trust continuation

1 Apr 2009

Shareholders of the F&C commercial property trust are to vote on the continuation of the company.
Signs of the times

2 Apr 2009

Naturally, I would never dream of contradicting the good, good people of Fidelity or indeed other less fervent preachers of the gospel that, when it comes to investing, it is time in - rather than timing - the market that counts.
SimplyBiz offers free Mortgage Brain to advisers

2 Apr 2009

SimplyBiz Mortgages is offering free Mortgage Brain software to all its member firms, throughout 2009.
Skandia - Protected Portfolio Investment - Global Vista Fund

1 Apr 2009

SkandiaProtected Portfolio Investment - Global Vista Fund
Skandia pays 89 per cent of CI claims in 2008

1 Apr 2009

Skandia paid out 89 per cent of critical illness claims in 2008, totalling £24m in payouts.
Skandia records 10,000 hits on Pricewatch tool

2 Apr 2009

Skandia’s Pricewatch tool has recorded over 10,000 visits in its first eight weeks, prompting Skandia to fast track future developments on the comparison proposition.
Skill bill

2 Apr 2009

Sesame whole-heartedly supports the march towards higher professional standards but we must remain conscious of the need to improve consumer access to advice.
Standard Life head of platforms joins Vanguard UK

3 Apr 2009

Standard Life head of platform sales Nick Blake is leaving the firm to join Vanguard.
Standard Life launches European equity income fund

3 Apr 2009

Standard Life Investments has launched a new European equity income fund.
Standard Life reduces executive remuneration

7 Apr 2009

Standard Life has reduced the remuneration package for its executive directors.
State line

2 Apr 2009

For years, many people considered the payment of the state pension as an insignificant bonus, a small addition to a decent pension from an employer's occupational pension scheme or a top-up to a personal pension for the self-employed. For low-earners, however, many of whom have not been in pensionable employment, the state pension has often been their sole income, their financial lifeline in retirement.
Stellar Asset Management - The First Stellar Forestry Fund

7 Apr 2009

Stellar Asset ManagementThe First Stellar Forestry Fund
Structural faults

1 Apr 2009

Structured products are still seducing investors in these troubled times.Sonia Speedy detects distinctly diverging feelings about the asset class
Suffolk Life may move into middle market

2 Apr 2009

Suffolk Life is considering launching a cheaper version of its self-invested personal pension to compete with firms such as Standard Life and Sipp Centre.
Supermarts need to take down IFA sales barriers

2 Apr 2009

Structured product providers have urged IFAs to lobby fund supermarkets to switch to an open architecture model to allow the products on their platforms.
Sutcliffe the new chairman of BAS

1 Apr 2009

Jim Sutcliffe, FIA has been appointed as the next chair of the Board for Actuarial Standards (BAS) and a Director of the Financial Reporting Council.
SVM adds to Absolute Return sector

6 Apr 2009

SVM Asset ManagementUK Absolute Alpha Fund
Swiss Re to cut workforce by 10%

2 Apr 2009

Swiss Re is to cut its workforce by 10 per cent in a bid to strengthen its capital position.
T. Bailey hires Philippa Gee as head of marketing and comms

6 Apr 2009

Funds of funds specialist T. Bailey has recruited Philippa Gee to head up its marketing and communications team.
Taking the pain out of premiums

1 Apr 2009

Keeping a lid on healthcare premiums is a priority for today’s employers. Sam Barrett investigates
Third way at crossroads

2 Apr 2009

Aegon Scottish Equitable has become the latest third-way annuity provider to raise the price of its guarantees.
Thoresen slams FSA on access to advice

2 Apr 2009

Aegon UK chief executive Otto Thoresen has criticised the FSA for failing to do more under the retail distribution review to widen access to financial advice.
Tide tables

2 Apr 2009

Fidelity fund guru Anthony Bolton has published a new book covering his 30-plus years in fund management.
Towry applauds Axa withdrawal from initial corporate pension commission

6 Apr 2009

Axa’s withdrawal from offering initial commission in the corporate pensions market should be welcomed by employers, says Towry Law.
Treasury to publish financial services white paper

6 Apr 2009

The Treasury is set to release a white paper this month drawing together the recommendations made for regulatory reform in the Turner Review, the G20 and other bodies of work.
Trigold merges with software company

6 Apr 2009

Mortgage sourcing system Trigold is set to merge with Crystal, the provider of the Momentum online point-of-sale platform.
Trustees lack confidence in advisers

1 Apr 2009

"Trustees are lacking confidence both in their advisers and also in their own ability to negotiate, according to a recent survey by ITS.
Trustees must change working style

1 Apr 2009

Pension scheme trustees struggling to meet rising governance challenges presented by the current economic downturn need to change the way they work, says Hewitt Associates.
TSC launches international inquiry into banking crisis

1 Apr 2009

The Treasury Select Committee has launched an inquiry into the international dimension of the banking crisis.
TSC MPs call for Lord Myners to go

1 Apr 2009

MPs in the Treasury Select Committee have reportedly called for embattled City Minister Lord Myners to resign after new evidence was submitted about Sir Fred Goodwin's pension.
Twin trouble

2 Apr 2009

Inflation and deflation are back on the agenda - this month, both at the same time. The prospect of different indices pointing in different ways will present novel and complex challenges for IFAs and consumers.
UK wrap platform assets to hit £300bn in 5 years, says Navigant Consulting

7 Apr 2009

Assets held on UK wrap platforms are set to more than triple over the next five years to over £300bn, according to financial advice consultancy firm Navigant Consulting.
Unum tailors plan for teachers

6 Apr 2009

Unum has established an income protection plan for teachers in the public sector which takes into account local authority sick pay arrangements.
Unum -Teachers’ Income Replacement Plan

6 Apr 2009

UnumTeachers’ Income Replacement Plan
VC backing for PensionDCisions

3 Apr 2009

Pensions data company PensionDCisions has secured venture capital funding from Delta Partners to allow further development of the business.
Watson Wyatt appoints Martin Pike as global director

6 Apr 2009

Watson Wyatt has appointed Martin Pike as global director of insurance and financial services consulting practice, effective as of July 1 when the current director, Philip Brook, retires.
Webster not joining Henderson, Dossett agrees terms

3 Apr 2009

New Star international property fund manager and head of global property Stuart Webster will not be joining Henderson at the conclusion of the merger.
Who wants to live forever?

1 Apr 2009

Martin Palmer Head of Corporate Pensions Marketing, Friends Provident
Wizard Learning and Rubii launch consumer guide to IFA qualifications

1 Apr 2009

Online adviser training website WizardLearning.com and financial adviser search engine Rubii.co.uk are launching a new consumer guide to financial planning qualifications.
Zurich hosts pension review seminars

2 Apr 2009

Zurich is urging advisers to carry out immediate pension reviews in light of the financial downturn rather than waiting for the next scheduled review.

Money Marketing1 April 2009

Money Marketing
1 April 2009