Money Marketing
1 August 2007

  • IMA members run £3trn funds

    2 Aug 2007

    The Investment Management Association's annual survey reveals its members run over £3.1trn for clients. Of £650bn under management for retail clients, over a third is domiciled in Luxemburg, Dublin and other overseas locations.

  • Mullins quits Aifa in move to Dubai

    2 Aug 2007

    Aifa director of public affairs Tracey Mullins is to leave the organisation and is moving to Dubai. She joined the trade body in November 2000 and had responsibilities across the association's family of trade bodies. A replacement has yet to be decided.

  • “Duplicitous” Isa reforms risk damaging consumers, warns AWD Chase de Vere

    2 Aug 2007

    AWD Chase de Vere has warned the Government is being “duplicitous” with its current Isa reforms and risks massive consumer detriment by not allowing a switch back from shares to cash.

  • £2.5bn in flood-related claims expected

    2 Aug 2007

    Insurers are estimating that flood-related claims will hit £2.5bn this summer and economists say the total cost to the affected regions will exceed £3bn.

  • 2 million UK businesses could benefit from offshore bonds

    6 Aug 2007

    Up to two million small to medium-sized companies can cut their tax bill and boost cash flow with offshore bonds, according to figures from Clerical Medical.

  • A logical approach

    2 Aug 2007

    Most firms simply want to know, how does it affect me? And, if it does affect me, what should I be doing about it?

  • A quarter of advisers plan to give up initial commission

    6 Aug 2007

    Twenty-six per cent of financial advisers report that giving up initial commission in favour of renewal commission is their biggest priority for driving income generation over the next year.

  • A Shaw thing

    2 Aug 2007

    Sam Shaw is a reporter on Money MarketingThe joys of having taken Monday off as leave soon became a distant memory as I walk in on press day to land straight in the middle of the Friends Provident/Resolution merger talks.

  • Abbey follows path to US

    2 Aug 2007

    Abbey’s US equity bond is linked to the performance of the S&P 500 index over a five-year term.

  • ABI rejects “anti-IFA” allegations

    2 Aug 2007

    The ABI has vehemently rejected the accusation that it has become anti-advice and anti-IFA claiming its members view the adviser channel as an essential part of future growth.

  • Accord chief accuses over-enthusiastic lenders of stoking house price inflation

    2 Aug 2007

    Accord managing director Linda Will says lenders offering very high income multiples are making housing even less affordable and stopping the market from correcting.

  • Adequacy change will force out Small IFAs

    2 Aug 2007

    It is unfortunate that the FSA takes a view that the small IFA does not provide good advice, sells all policies on commission and does not offer fee-based advice.

  • Advice model not broken, says Aifa

    2 Aug 2007

    Aifa says industry research shows that the IFA sector had turnover of £6.5bn last year and net profits of 13.5 per cent, which contradicts the FSA's assertion that the advice market is not sustainable.

  • Adviser beware as market waits for answers

    2 Aug 2007

    Can we suggest an adaptation of buyer beware - adviser beware. The FSA's planned reforms might be curtains for half of advisers or there may be change which simply increases standards and improves disclosure at a rate which the industry can cope with.

  • Aegon back on track

    2 Aug 2007

    Aegon chief investment officer Andrew Fleming looks to have made his mark on the company and is fast turning it around. This is certainly one investment house that intermediaries should be keeping an eye onThe old slogan of "Aegon for bonds" was highly appropriate, partly because it was the last company you wanted to manage your equity funds.

  • Aifa to publish series of papers to dispel RDR “myths”

    3 Aug 2007

    Aifa will this week publish the first of a number of papers on the retail distribution review aimed at dispelling some of the “myths” surrounding the review.

  • All change

    3 Aug 2007

    Rumours are hotting up as to who will replace Stephen Leaman at Openwork, with several names in the running.

  • Alliance & Leicester - Feesaver Two Year Fixed Rate

    2 Aug 2007

    Alliance & LeicesterFeesaver Two Year Fixed Rate

  • Ascentric signs up 100th adviser

    3 Aug 2007

    The Ascentric Wrap has signed up its 100th adviser with 35 firms now using the platform.

  • AWD says Government Isa stance is duplicitous

    1 Aug 2007

    AWD Chase de Vere has accused the Government of being duplicitous in allowing one-way transfers of Isa cash into equity and other Isa vehicles from April 2008 but not allowing people to move back to cash Isas if circumstances dictate.

  • Bank of England maintains rate at 5.75 per cent

    2 Aug 2007

    The Bank of England has announced that interest rates are to remain unchanged at 5.75 per cent.

  • Bankhall

    2 Aug 2007

    In an article last week, Money Marketing said that Bankhall was owned by Misys. It is not and we apologise for any confusion.

  • Best intentions

    2 Aug 2007

    Nicole Blackmore asks industry experts what the future holds for Bestinvest now that 3i has bought a majority stake in the company

  • Blair years bring 19 million words of pension rules

    2 Aug 2007

    The Government added 19 million more words of pension legislation and guidance under the premiership of Tony Blair.

  • Bring back the MCA to silence the critics

    2 Aug 2007

    Having been actively arranging business in this wonderful profession of ours continuously since 1969 and having been one of the founding fathers of the Life Insurance Association, I could weep when I see the vested interests shovelling propaganda out almost on a daily basis about the sins of commission,

  • Broker talkback

    2 Aug 2007

    Will your company respond to the retail distribution review discussion paper?

  • Brokers accuse Govt of window-dressing its HomeBuy scheme

    2 Aug 2007

    'Missed opportunity' to help FTBs as no additional funding announced

  • Build on strong platform

    2 Aug 2007

    Skandia UK head of product marketing Billy Mackay on meeting the regulator's challenges

  • Bupa launches health assessment tool for businesses

    1 Aug 2007

    Bupa has launched a free health assessment tool to help employers make healthy working the norm among their employees.

  • By definition

    2 Aug 2007

    The independent title must be solely for the use of whole of market advisers

  • Cammidge drops the ball

    2 Aug 2007

    The Diary would like to congratulate Aegon head of business media Adrian Cammidge for royally embarrassing himself in front of everyone last week.

  • Can dog funds be taught new tricks?

    2 Aug 2007

    Money Marketing asks the managers of dog funds to justify their underperformance and explain to investment advisers what they are doing to turn them roundThe number of "dog funds" has almost doubled in the last 18 months, according to Bestinvest.

  • Canada Life - Annuity Growth Account

    2 Aug 2007

    Canada LifeAnnuity Growth Account

  • CIBA introduces new code of conduct

    6 Aug 2007

    The Cayman Islands Bankers Association has launched a new voluntary Banking Code in conjunction with retail banks in the region.

  • CIL seals deal for Equal Partners' client bank

    2 Aug 2007

    Chelsea Investments Limited has struck a deal to take over the servicing of Equal Partners' client bank.

  • Claims chasers attempt to challenge time bar rules in the High Court

    3 Aug 2007

    Four claims chasers have joined forces in an attempt to challenge the legality of the time bar rules for endowment policies in the High Court.

  • Claims chasers try to keep gravy train on track

    6 Aug 2007

    A coalition of claims chasers got together last week in an attempt to challenge the time bar rules in the High Court claiming they are “unfair” and “illegal”.

  • Clarkson Hill seeks platform

    2 Aug 2007

    Clarkson Hill Group, the Cambridgeshire-based national IFA with 300 advisers, hopes to select a wrap partner by the end of the year.

  • Class struggle

    2 Aug 2007

    A couple of weeks ago, I received an email from Tom McPhail, head of pensions research at Hargreaves Lansdown, drawing my attention to an article in Money Marketing in which he was reported as "hitting back" at commentators - myself included - who have expressed fears that consumers could end up misbuying Sipps on an execution-only basis.

  • CML's figures "tip of the iceberg" says mform.co.uk

    3 Aug 2007

    The Council of Mortgage Lenders’ announcement that increasing numbers of homes are being repossessed could be only the tip of the iceberg, according to mform.co.uk.

  • Commercial concerns

    2 Aug 2007

    Commercial property fund firms have hit the roof over press criticism

  • Co-operative fund link-up with Cofunds

    2 Aug 2007

    Firm sees growing IFA demand for ethical investment.

  • Corporate chartered status for Pavis

    2 Aug 2007

    Pavis Financial Management is the first firm to achieve corporate chartered financial planner status in Liverpool. The firm counts members of the House of Lords, North-west businesses and national professional bodies in its client list.

  • Creative Duce is flowing at CSAM

    2 Aug 2007

    Chris Salih examines how the new co-heads of multi-manager are putting the zest back in Credit Suisse's range, starting by squeezing out its regional funds

  • Credit Suisse announces new MD and head of global equities

    6 Aug 2007

    Credit Suisse has announced the appointment of Yong-Moon Kim as managing director and head of global equities for asset management.

  • DB schemes more costly than mortgage interest payments

    7 Aug 2007

    The annual cost of providing a defined benefit pension exceeds the average home-owner’s yearly mortgage interest payments, according to Fidelity International.

  • Defaqto says simplified CI would boost take-up

    2 Aug 2007

    Insurers should introduce a simplified critical illness product to help close the protection gap, says Defaqto head of life and protection Nick Telfer.

  • Deutsche Bank clinches £1bn deal for Abbey Life

    2 Aug 2007

    Lloyds TSB is to sell its closed life insurance business, Abbey Life, to Deutsche Bank in a deal worth close to £1bn.

  • Edeus completes sixth whole loan sale

    2 Aug 2007

    Edeus has now sold more than £1bn of its assets in the whole loan sales market. It has completed six whole loan sales in the past five months, the most recent being to ABN Amro Bank subsidiary Topaz Finance.

  • Edeus homes in on buy to lets

    2 Aug 2007

    Edeus has launched two semi-exclusive buy-to-let deals with 10 intermediary partners.

  • Editor’s Column- Hector Sant’s legacy imagined

    1 Aug 2007

    In this second online column, forgive me dear reader, as I indulge in a little bit of futurology about the FSA.

  • EU 'fought hard' for FSA to scrap menu

    2 Aug 2007

    The European Commission "fought hard" to force the FSA to scrap the menu and IDD, Money Marketing can reveal.

  • Exchange adds Pioneer's PIP plan

    2 Aug 2007

    Pioneer's specialist professional income protection plan has been added to The Exchange's Exweb portal.

  • F&C and Thinc announce distribution partnership

    6 Aug 2007

    F&C Investments has signed a new distribution partnership for its lifestyle suite of funds with Thinc Group.

  • F&C in the black

    7 Aug 2007

    F&C announced its first pre-tax profit yesterday, recording a £7.9m return for the first six months of 2007.

  • F&C's 130/30 fund will target purely equities

    2 Aug 2007

    F&C has plans to launch what it believes will be the first 130/30 fund to invest purely in UK equities.

  • Family ties

    2 Aug 2007

    How a series of Sipps can be set up to enable a joint property purchase

  • Fast food

    2 Aug 2007

    Commodities and property have been in the news in recent days, perhaps as a consequence of investors looking for an asset class unlikely to be sullied by the sub-prime meltdown. Both these potential homes for what appears to be a never-ending tide of liquidity have not been without their problems, however.

  • Fidelity International - Fidelity Funds Emerging Europe, Middle East and Africa Fund

    2 Aug 2007

    Fidelity InternationalFidelity Funds Emerging Europe, Middle East and Africa Fund

  • Finance director Organ joins AWD

    7 Aug 2007

    AWD Group has appointed Robert Organ as finance director for the UK business. 

  • Finance firms among the top marketing spenders

    2 Aug 2007

    Media advertising spending is rising at its fastest rate in seven years, with service providers, which includes the financial services sector, topping the list, according to the Bellwether Report's second quarter update.

  • Fixed mortgage ERCs average over £6,000

    2 Aug 2007

    Fixed mortgage get-out charges average over £6,000 according to research from MoneyExpert.com.

  • Focus sees inaugural Q1 profit and hopes for first dividend this year

    2 Aug 2007

    Financial software solutions provider Focus Solutions hopes to introduce dividend payments in the current financial year as it sees an encouraging start to the year, with an inaugural first quarter profit.

  • For better or for worse?

    6 Aug 2007

    The proposals outlined in the RDR could push the distribution market in two distinct direction, says Deloitte financial services partner Andrew Power. He explains some of the positive and the negative possible outcomes.

  • 'Forty per cent of small firms will go under'

    2 Aug 2007

    As many as 40 per cent of small adviser firms will go out of business over the next five to 10 years, says research by JP Morgan Asset Management.

  • Friendly aliens

    2 Aug 2007

    As offshore funds land on UK platforms, investing is made simpler

  • FSA accused of weakness over exit fee debacle

    3 Aug 2007

    Exit fees have remained the hot topic in the mortgage world with the FSA’s deadline of July 31 passing earlier this week. But you may be forgiven if you feel the deadline has been something of an anti-climax.

  • FSA continues probe into clawback debts

    2 Aug 2007

    The FSA has warned that it will continue to monitor firms with product provider clawback debts after finishing thematic work that resulted in 11 firms being forced into taking remedial action.

  • FSA simplifies and shortens returns

    2 Aug 2007

    The FSA is simplifying and shortening its retail mediation activities return and its complaints return, reducing the volume of information required by 30 per cent and 80 per cent respectively.

  • FSA takes action against three mortgage brokers for management failings

    1 Aug 2007

    The FSA has taken action against three mortgage brokers for management failings, fining two firms £10,500 each.

  • FSA to keep monitoring lenders' exit fee stance

    1 Aug 2007

    The FSA has updated on how mortgage lenders have responded to concerns that mortgage exit administration fees have been increased unfairly.

  • FSA's blueprint is firm foundation for future

    2 Aug 2007

    The FSA's discussion paper on the RDR has received much deserved attention on these pages but its younger and far prettier sister, the discussion paper on platforms, is in danger of being neglected.

  • Full marks for Eclectica's hot topic

    2 Aug 2007

    Eclectica Asset ManagementCF Eclectica Agriculture Fund

  • GBST Holdings buys InfoComp

    7 Aug 2007

    Global Banking and Securities Transactions Holdings has bought Australian technology firm InfoComp for £23.6m.

  • Generic advice could benefit advisers

    6 Aug 2007

    Otto Thoresen, chief executive of AEGON UK and chair of the Thoresen Review of Generic Financial Advice, explains that his review is not part of the RDR but any new general financial information service could be a help to financial advisers.

  • GFAs under threat post-RDR, says Fidelity

    6 Aug 2007

    Nearly half of all IFA firms are at risk of being squeezed out of business if retail distribution review proposals become a reality, warns Fidelity.

  • Govt reveals its caring, sharing side

    2 Aug 2007

    The Government is pledging to be the architect of a massive plan generating 70,000 new affordable homes each year and extending its Homebuy scheme. But commentators have called into question its credentials as the builder of a policy that truly extends homeownership among the wider population. By Tanya Powley

  • Greater sales focus for Yousefi successor

    2 Aug 2007

    Alliance & Leicester looks set to convert the role of its former head of intermediary mortgages Mehrdad Yousefi into a sales-facing position.

  • Ground floor ... going up

    2 Aug 2007

    Good stockpicking will help identify tomorrow's stars among the array of UK small caps

  • Healthy living

    2 Aug 2007

    The retail distribution review frustrates and irritates me in about equal proportions, when real issues, such as how we address a life protection gap estimated by Swiss Re to be £2.3trn, should be addressed.

  • Home economics

    2 Aug 2007

    Sales of equity release plans are at record levels and the market looks set to grow significantly in the second half of the year as the market wakes up to the benefits that more flexible drawdown plans can offer. Gregor Watt reports

  • House price growth slows to 0.1%

    2 Aug 2007

    Nationwide's latest house price survey shows a 0.1 per cent increase in July, the slowest pace of growth since April 2006.

  • IFA Consortium to host industry think tank

    6 Aug 2007

    IFA Consortium is hosting an industry think tank at Madrid's Ritz Hotel next month to host keynote addresses from leading industry commentators.

  • iimia acquires south west advisory firm

    6 Aug 2007

    iimia Investment Group plc has acquired south-west advisory firm John Miln and Company.

  • IMA 'sceptical' of simple primary advice

    6 Aug 2007

    Any move to make advice for the 'mass affluent' market more professional is a step in the right direction says Investment Management Association chief executive Richard Saunders but the industry should be careful not to over simplify the advice process.

  • IMA urges Gov to increase savings limits and boost competitiveness of LSE

    2 Aug 2007

    The Investment Management Association is calling for measures to enhance pensions and savings and to optimise the competitiveness of the UK funds industry in its pre-budget representations.

  • Incentives could make IFAs change models

    2 Aug 2007

    Most IFAs say they would con-sider changing their business model if the FSA offered financial or other incentives to become a professional financial planner, according to Aegon's latest IFA Insights survey.

  • Industry hosts consumer identity protection summit

    3 Aug 2007

    Government, law enforcement agencies, large financial corporations and consumer bodies are hosting Identity Matters, a summit to address key identity protection issues.

  • Insurer gives discounts to veggies

    2 Aug 2007

    Animal Friends Insurance says it will offer vegetarians and fish eaters a 6 per cent discount on life cover. The insurer says vegetarians are less likely to suffer from a range of chronic diseases.

  • Insurers are facing £2.5bn in claims for flood damage

    2 Aug 2007

    The July floods have so far resulted in 12,000 claims for flood-damaged homes and 3,500 claims for businesses, according to ABI figures.

  • Investec Asset Management - Global Extension Fund

    1 Aug 2007

    Investec Asset ManagementGlobal Extension Fund

  • Investec increases Euro savings rate

    3 Aug 2007

    Investec Bank has announced an increase on the interest rate of its Euro Investec Horizon account to 4.25 per cent, despite the European Central Bank’s decision yesterday to maintain its rate at 4 per cent.

  • James Hay puts 16 more funds on wrap

    2 Aug 2007

    James Hay has added 16 offshore funds from Lloyds TSB to its wrap platform, bringing the total to 1,228 funds from 53 providers.

  • Jersey and the British Virgin Isles sign memorandum of understanding

    6 Aug 2007

    The Jersey Financial Services Commission and the British Virgin Islands Financial Services Commission have signed a memorandum of understanding that will further co-operation between the two regulatory bodies.

  • Jersey set for regulatory revamp

    2 Aug 2007

    The Jersey Financial Services Commission is consulting on overhauling its regulatory framework around investment, deposit-taking, insurance and trust company business to come in line with international standards.

  • JFSC releases Codes of Practice consultation paper

    2 Aug 2007

    The Jersey Financial Services Commission has issued a consultation paper proposing amendments to the Codes of Practice for investment, deposit-taking, insurance and trust company business.

  • Jupiter global fund approved in Sweden

    3 Aug 2007

    Jupiter Asset Management announced its Jupiter global fund has been approved by the Swedish Financial Supervisory Authority.

  • King Platt abdicates

    7 Aug 2007

    From the duo who brought us Life Policies Direct and Torquil Clark Life Insurance comes a yet to be named new venture to offices near you.

  • L&G appoints Bupa's Martin Noone

    7 Aug 2007

    Legal & General has appointed Martin Noone as protection sales director.

  • Lawrence House planning move out of cash

    2 Aug 2007

    Manager says froth is dispersing to leave more realistic valuations in markets

  • Lenders set to escape censure on exit fees

    2 Aug 2007

    FSA says it never intended to criticise lenders as deadline passes for disclosure of exit fee strategies

  • Less scrutiny if firms can prove TCF credentials

    2 Aug 2007

    The FSA has published guidance to help adviser firms improve their standards for treating customers fairly and has promised less scrutiny of firms that prove their TCF credentials.

  • Less than one in 10 will be able to afford professional advice

    2 Aug 2007

    Less than one in 10 people will be able to afford "professional" financial advice, with the vast majority of the population in the primary advice bracket, according to the FSA's own statistics.

  • Lexicon approaches ex-Hamptons chief

    2 Aug 2007

    Lexicon Group has approached former Hamptons Mortgages compliance director Paul Williams following his resignation last week. Hamptons is expected to announce who will replace former managing director Kevin Duffy in the coming weeks.

  • Lifesearch hits out at firms over non-disclosure claims

    2 Aug 2007

    Lifesearch has accused insurance firms of exaggerating their willingness to pay out a proportion of all unrelated non-disclosure claims, saying that many firms only do so after a fight.

  • Lovey wants insurers to scrap 'painful' clawback

    2 Aug 2007

    Insurers are being called on to pay lower up-front commission and remove clawback on life policies.

  • M&G conducts bond reshuffle

    2 Aug 2007

    M&G has made a management reshuffle on the group high yield bond funds following David Fancourt's move to the group's collateralised debt obligations (CDO) team.

  • McPhail slams Friends Provident annuities

    6 Aug 2007

    Hargreaves Lansdown head of pensions research Tom McPhail says the proposed merger of Resolution and Friends Provident could be bad news for Resolution's pension policyholders.

  • MetLife feels a niche

    2 Aug 2007

    MetLife UKInvestment Bond

  • MGI won't overload mandates

    2 Aug 2007

    Mercer Global Investors says manager of managers is a such a scaleable strategy that it will never take between more than two to five managers to run a portfolio.

  • Midas touch

    2 Aug 2007

    Simon Edwards, who earned an excellent reputation as chief investment manager of the Merseyside pension fund and before that as a director of Credit Suisse, founded Midas Capital just over five years ago and has built up funds under management of more than £1bn.

  • Model solution

    2 Aug 2007

    Setting out a framework for financial inclusion alongside industry freedom

  • Moffatt leaves The Money Portal

    6 Aug 2007

    The Money Portal head of investment development David Moffatt is leaving the firm this Friday following strategic differences.

  • Morgan Stanley

    2 Aug 2007

    The group's £6m UK equity fund has underperformed by 10 per cent over the past three years.Modray says this proves that large resources are no guarantee of success.A Morgan Stanley spokesman comments that the fund is not marketed and has "minimal assets".

  • Morgan Stanley - Emerging Markets Growth Plan

    2 Aug 2007

    Morgan StanleyEmerging Markets Growth Plan 2

  • MPs call for Government to consult on life assurance unclaimed assets

    6 Aug 2007

    The Treasury select committee has recommended the Government consults with the insurance industry about future involvement of life assurance assets in the unclaimed assets scheme.

  • Myners leads personal accounts campaign

    2 Aug 2007

    Paul Myners is to head the Personal Accounts Delivery Authority which is responsible for getting the Government's personal accounts scheme up and running.

  • New Star's Thompson in the black

    2 Aug 2007

    Principal's latest fund ratings see Toby Thompson's New Star higher income fund put on its black list of underperforming funds.

  • Nick Sheridan

    2 Aug 2007

    The manager of the New Star European values fund tells how he made a life-changing decision to take on the role but how the contrasting styles of the European team will drive the fund forward. He talks to Chris Salih about his method of stock selection which he has developed over the years

  • Norwich & Peterborough - 2.15% Five-Year Discount

    2 Aug 2007

    Norwich & Peterborough2.15% Five-Year Discount

  • Norwich & Peterborough - Three-Year Fixed/Tracker Rate

    2 Aug 2007

    Norwich & PeterboroughThree-Year Fixed/Tracker Rate

  • NU wins fight over yeoman photo in ad

    2 Aug 2007

    Norwich Union Direct has won its battle royale with the charity Historic Royal Palaces over the use of a yeoman warder in its advertising.

  • Operating profits boost for SJP

    2 Aug 2007

    St James's Place has reported a 50 per cent rise in first-half group operating profits from £80.3m to £120.7m. New business rose by 33 per cent from £160.9m to £213.5m.

  • Out of context

    2 Aug 2007

    "What's the correct etiquette for a fetish night?"Aegon's Kevin Brown ponders the evening ahead

  • Over half of IFA clients have three or more pension schemes

    3 Aug 2007

    Over 50 per cent of IFA clients have three or more pension schemes with just 12 per cent of clients only having one pension scheme.

  • Paul Miles joins Parmenion as sales director

    6 Aug 2007

    Parmenion Capital Partners has appointed former Selestia sales manager Paul Miles to the new role of sales director.

  • Payout for Standard WP policyholders

    2 Aug 2007

    Standard Life's with-profits policyholders will get payouts of around £90 on average as part of the distribution of its inherited estate.

  • Pearl Jam

    1 Aug 2007

    A week has passed since the proposed merger of Resolution and Friends Provident was announced and still there seems to be more questions than answers over the future of both asset management arms.

  • PFS and IFP in clash over qualifications

    2 Aug 2007

    The Personal Finance Society has warned the FSA that it must not equate its chartered financial planner qualification with the Institute of Financial Planning's CFP when awarding professional status under the retail distribution review.

  • PFS will stick to its knitting on RDR

    2 Aug 2007

    The Personal Finance Society has pledged to "stick to its knitting" and keep out of the controversial retail distribution review debates around remuneration and capital adequacy.

  • Platform appoints Chick as corporate BDM

    7 Aug 2007

    Platform has appointed Claire Chick to the post of corporate business development manager within its sales department.

  • Primary concerns

    2 Aug 2007

    Question marks over the viability of operating in the proposed primary advice sector could force many smaller IFAs to seek the safety of a big financial institution, reports Will Henley

  • Providers urged to retrain broker consultants after High Court ruling

    1 Aug 2007

    Product providers are being urged to retrain broker consultants to ensure they are meeting Cob rules on what does and does not constitute advice, after yesterday’s Scottish Equitable High Court ruling.

  • Quiz night teams are left stumped

    2 Aug 2007

    The Lifesearch, Royal Liver and Aegon quiz night got off to a great start with the silver screen round but it was all downhill from there on for the two Money Marketing teams which came sixth and last.

  • Regulation is lowering consumer confidence, say providers

    3 Aug 2007

    Almost 60 per cent of providers believe that the continuous changing of regulation is lowering consumer confidence, according to research conducted by Focus Solutions.

  • Repossessions up 30 per cent from last June says CML

    3 Aug 2007

    The number of repossessions in the first half of this year rose to 14,000 a 30 per cent increase compared to the same period in 2006, according to statistics from the Council of Mortgage Lenders.

  • Resolution vows to fight Pearl bid to derail deal

    2 Aug 2007

    Resolution says it is prepared to change the terms of its agreed merger with Friends Provident to drive through the deal and fend off any threats from Pearl Assurance.

  • Royal and rugby great in Artemis Challenge at Skandia Cowes Week

    6 Aug 2007

    Artemis Investment Management has confirmed that Lady Gabriella Windsor and Will Greenwood MBE will participate in Skandia Cowes Week's Artemis Challenge on Tuesday.

  • ScotEq faces £700k redress over unauthorised advice

    2 Aug 2007

    Scottish Equitable has been found to have provided unauthorised investment advice after its representative sat in meetings alongside an IFA who was advising a client.

  • ScotProv in rethink of CI timeline

    2 Aug 2007

    Scottish Provident has updated its critical-illness definitions timeline to include the Association of Brit-ish Insurers' critical illness standard definitions, released this year.

  • SG Wealth Management launches own FOF range

    3 Aug 2007

    SG Wealth Management is to launch its own range of discretionary investment funds in early September.

  • Simmonds will carry on Thinc's growth strategy

    2 Aug 2007

    Thinc Group's new chief executive John Simmonds will continue the firm's policy of achieving growth organically and by acquisition.

  • 'Simple IP would be best seller'

    2 Aug 2007

    Simplified income protection plans that cover household bills and mortgage payments would "sell like hot cakes", claims Munich Re client management director Andrew Francis.

  • Sipp sales rocket at Standard Life

    7 Aug 2007

    Sales of Sipps have rocketed by 82 per cent at Standard Life in the past six months which boosted sales of UK life and pensions by 45 per cent.

  • Site rapped over 'cheap' cancer cover

    2 Aug 2007

    Price comparison website Moneysupermarket.com has come under fire for listing Virgin Money's cancer cover as one of the cheapest joint life and critical-illness policies.

  • Skandia says £1bn IHT bill is avoidable

    3 Aug 2007

    Almost £1bn could unnecessarily be subjected to inheritance tax this year through a failure to write life insurance policies in trust, says Skandia.

  • Span's labyrinth

    2 Aug 2007

    Increasing life expectancy will have an impact on many areas of financial services

  • Stake in the future

    2 Aug 2007

    Auto-enrolment from 2012 could resurrect many dormant stakeholders

  • Standard mix and match for business plan

    2 Aug 2007

    Standard Life Healthcare has set up a modular business healthcare product which allows small and medium-sized firms to create a bespoke product for their employees by mixing and matching benefits.

  • Stanlib on road to Africa

    2 Aug 2007

    Stanlib, the asset management arm of Standard Bank of South Africa is launching two African equity funds for the high-net-worth end of the retail market.

  • Stroud & Swinton appoints new non-exec director

    6 Aug 2007

    Stroud & Swindon has announced the appointment of a new non-executive director Glyn Smith who will join the building society on September 1.

  • Supermarkets edge out the managers

    2 Aug 2007

    With the rising popularity of fund supermarkets has come the reality of disintermediation, only it is not IFAs that are being pushed out of the chain but fund houses themselves.

  • Swuf scraps move to regain property fund from Laidlaw

    2 Aug 2007

    Scottish Widows Unit Funds has abandoned its plans to regain the £400m UK balanced property trust from former property head Tom Laidlaw's start up boutique Cordatus Capital Partners.

  • Symponia attacks Gov for potentially evicting 103 year old from care home

    7 Aug 2007

    Symponia says the potential eviction of 103-year old Esme Collins from her nursing home due to a Government funding shortfall is further evidence elderly people are being neglected.

  • Taking issue with the offset argument

    2 Aug 2007

    Both Robert Reid and David Elms are quoted as saying that if commission offset is banned, than less than 2 per cent of advisers will be able to call themselves independent. I would take issue with this.

  • Teachers Group

    2 Aug 2007

    The £39m Sovereign ethical fund has underperformed by 11 per cent. Sales director Wendy Michie says the fund's mandate is unlikely to be changed.She says: "It is not something we have a concern for. If you look at December 2006, we were at the top. It is one of those funds that kind of bounces."

  • The links effect

    2 Aug 2007

    After returning to Carnoustie in Scotland for the The Open golf championships recently, I have no doubt that many people were tired of the re-running of the fateful 18th hole of the final round as played by Jean van der Velde the last time championship was held at the course in 1999.

  • The M&A merry-go-round continues

    2 Aug 2007

    While I was in oblivious bliss sunbathing on the black sand beaches of Santorini, the life offices busied themselves with more M&A activity than is usual at this time of year.

  • The missing link

    2 Aug 2007

    A recent FSA paper proposes raising capital adequacy levels due to a suggested connection between a firm's financial resources and its inclination to missell. Here, Martin Archer, legal and claims director at PI insurer Collegiate Management Services, casts doubt on the regulator's thinking, claiming it has overstated the problems caused by commission bias and failed to recognise how increasing professionalism is already driving better standards across the IFA sector

  • Threadneedle picks new chief executive

    2 Aug 2007

    Crispin Henderson has taken the reins as chief executive at Threadneedle as part of a senior management reshuffle at the firm.

  • Threesixty predicts price war on wrap in 2009

    1 Aug 2007

    Threesixty is predicting platform providers are marching towards a price war that is likely to arrive in mid 2009.

  • Top names come together to draw up manifesto for advice

    2 Aug 2007

    Aifa has set up a taskforce comprising some of the biggest industry names to produce a "manifesto for advice" for launch later this year.

  • Topix for discussion

    2 Aug 2007

    How time flies. It only seems like yesterday that Japanese stocks were soaring and Japan was the hottest stockmarket in the world. Japanese small cap stocks were the place to be as investors sought to tap into a nascent domestic recovery story.

  • Torquil Clark duo plan new venture

    2 Aug 2007

    Torquil Clark Life Insurance directors Jason King and Simon Platt have quit the firm to set up a new venture.

  • Total return 'flawed' for equity income

    2 Aug 2007

    Heartwood Wealth Management says separating income performance from growth performance when selecting equity income funds provides a better overview of funds' risk profiles than just analysing total returns.

  • Towry chief rejects call to join Aifa taskforce

    2 Aug 2007

    JS&P Towry Law chief executive Andrew Fisher has spurned Aifa's invitation to join its Future of Advice taskforce as he "fundamentally disagrees" with its objectives.

  • UK second for overvalued housing

    2 Aug 2007

    The UK has the second most overvalued housing market in the developed world, according to Fitch Ratings.

  • Urch to leave SWIP

    7 Aug 2007

    Scottish Widows Investment Partnership investment director of UK equities David Urch is to leave the firm after four years.

  • Vine-Lott to chair National Skills Academy for Financial Services

    1 Aug 2007

    Tisa director general Tony Vine-Lott has been appointed to chair the newly created National Skills Academy for Financial Services.

  • Wave - Self-Cert Two Year Tracker

    2 Aug 2007

    WaveSelf-Cert Two Year Tracker

  • When you wosh upon Transact, your dreams come true

    2 Aug 2007

    Opportunities for female finance directors were scarce in the early 1990s so I bought a small regulated investment business. For the first year, I was under the supervision of the previous owner. I still remember him scornfully pointing out, when I advised a client to place his £50,000 into five unit trusts, that for much more work (longer advice letter, multiple applications, periodic valuations) I would earn less commission than he would have done (by popping the lot into a with-profits bond).

  • With-profits wizards

    2 Aug 2007

    The FSA has made crystal clear the importance it places on consumers having access to ongoing advice on with-profits business.

  • Woolwich cuts two year fix to 5.89 per cent

    6 Aug 2007

    Woolwich has cut its two year fixed rate mortgage to 5.89 per cent.

  • Yearsley warns boutiques could quit enlarged group

    2 Aug 2007

    Advisers are split over whether Resolution's investment boutiques will stay with the fund house if the proposed merger with F&C goes ahead.

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