Money Marketing
1 July 2009

  • Abbey For Intermediaries get 9/10

    3 Jul 2009

    Abbey For IntermediariesTwo Year Tracker

  • "The worst is over" says BCC

    7 Jul 2009

  • "Trust in intermediaries crucial"

    1 Jul 2009

    The health insurance profession must address the issue of trust amongst the public if it is not to be tainted by the mistrust growing in the institutions of public life says Mike Izzard, chairman of AMII.

  • £2,000 In personal account after five years says IFS

    1 Jul 2009

    The shift to automatic enrolment and increased requirements on employers to make contributions should both boost pension coverage but many accounts will be tiny, according to the Institute of Fiscal Studies.

  • 70% Chance that market has bottomed, says Burdett

    2 Jul 2009

    Thames River co-head of multi-manager Robert Burdett says there is 70 per cent chance that the market has bottomed out.

  • A helping hand is needed

    1 Jul 2009

    Why is so there so much encouragement for employees to save in a pension scheme but so little help on offer when they reach retirement?

  • A matter of trust

    2 Jul 2009

    As advisers, we all spend time with clients helping them establish their attitudes to risk and educating them to the potential ramifications of this for long-term investment performance. Somewhat ironically, risk management processes and procedures should also be front of mind now for advisers themselves, ensuring the correct procedures are taken to reduce risk in their businesses.

  • Abbey For Intermediaries -First-Time Buyer 4 Year Fixed

    3 Jul 2009

    Abbey For IntermediariesFirst Time Buyer 4 Year Fixed

  • ABI calls for removal of TPD by 2010

    6 Jul 2009

    The Association of British Insurers is proposing that total permanent disability be removed from all critical illness policies by 2010.

  • Absolute return is new yardstick

    2 Jul 2009

    Multi-managers are more focused on absolute returns as an indication of performance since the credit crunch, according to Swip.

  • Adam Phillips appointed chairman of Consumer Panel

    2 Jul 2009

    The FSA announced today that Adam Phillips has been appointed chairman of the Financial Services Consumer Panel.

  • Adviser's cash-in clash with Aviva

    2 Jul 2009

    An adviser has slammed Aviva for sending his client a cash-in value for their property investment without informing them of the deferment period.

  • Advisers slam FSA's 'woeful estimates' on RDR cost

    2 Jul 2009

    Advisers have criticised the methodology used by the FSA to estimate retail distribution review costs, warning that they may have been heavily under-estimated.

  • Aegon launches investment/retirement planning tool

    2 Jul 2009

    Aegon has launched an investment and retirement planning tool to help advisers in their financial planning.

  • Aegon sets up direct annuity firm

    2 Jul 2009

    Aegon has set up a new company to sell annuities directly to consumers.

  • AIC members reduce cash and fixed interest weightings

    7 Jul 2009

    Some 56 per cent of members of the Association of Investment Companies reduced their exposure to cash and fixed interest in the first five months of the year.

  • Aifa wants basic benchmark

    2 Jul 2009

    Aifa director general Chris Cummings is disappointed that the basic advice category is exempt from QCF level-four qualifications and adviser charging rules.

  • Aifa wins Trade Body of the Year

    3 Jul 2009

    The Association of Independent Financial Advisers has been awarded Trade Body of the Year at the annual Public Affairs News Awards.

  • Alliance & Leicester - Two-Year Fixed Rate Remortgage

    6 Jul 2009

    Alliance & LeicesterTwo-Year Fixed Rate Remortgage

  • Arch cru trail fees ‘under consideration’

    6 Jul 2009

    Advisers of clients invested in the CF Arch Cru fund range may have their commission payments frozen with the suspension of fee payments by the funds’ depositaries BNY Mellon and HSBC.

  • Armstrong IM hires Simon Ellis as consultant

    6 Jul 2009

    Armstrong Investment Managers has hired Simon Ellis as a consultant to drive its business strategy.

  • Ascentric to power Montpelier Sipp

    3 Jul 2009

    Ascentric is to power the Montpelier Pensions Administration Services Sipp on its platform.

  • Axa Winterthur Wealth Management - Axa Sterling Corporate Bond Fund

    3 Jul 2009

    Axa Winterthur Wealth ManagementAxa Sterling Corporate Bond Fund

  • Back to basics

    1 Jul 2009

    The recession is showing its face in increasingly varied ways, just at the time when optimistic politicians and economists are saying the worst is over. Like the First World War, the downturn will be all but over by Christmas we are being told, but employers, intermediaries and providers are wisely bracing themselves for a tough long haul.

  • Baillie Gifford widens door to China

    3 Jul 2009

    Baillie Gifford has made its greater china fund available to IFAs following its launch for institutional investors last November.

  • Bank paper to feature restricted rules

    2 Jul 2009

    The Treasury's White Paper on banking reform is expected to contain some form of product regulation that will tie in with restricted advice.

  • Barclays and BP closures could trigger DB domino effect - Hewitt

    1 Jul 2009

    The recent rash of high profile final salary closures will cause a domino effect of more schemes closing to future defined benefit (DB) accrual than ever before, according to Hewitt.

  • Barnett Waddingham on bikes

    1 Jul 2009

    A team from Barnett Waddingham raised over £8,000 for the Stroke Association by participating in the Thames Bridges Bike Ride. The cyclists formed part of a larger team representing the Worshipful Company of Actuaries. Further donations can be made at www.justgiving.com/ barnettwaddingham.

  • Best laid plans

    2 Jul 2009

    The automatic enrolment of employees in 2012 marches on. A consultation on the process has just completed and further draft regulations are expected in autumn, two of which are of particular note.

  • Billingham moves to Threesixty

    2 Jul 2009

    Perception Support chief executive Phil Billingham is joining Threesixty and transferring his client base to the support services firms.

  • Bischoff tipped to chair Lloyds Group

    1 Jul 2009

    British banker Sir Win Bischoff is tipped to take over as the next chairman of Lloyds Banking Group, according to press reports.

  • Blue Sky to offer technical structured product sessions to PFS members

    2 Jul 2009

    Blue Sky Asset Management is offering technical training sessions at two forthcoming Personal Finance Society investment strategy conferences.

  • Bluefin makes further job cuts

    3 Jul 2009

    Bluefin has made seven support staff at its London office redundant, Money Marketing understands.

  • Bluefin relaunches enhanced Orbit

    1 Jul 2009

    Bluefin Corporate Consulting, is relaunching an enhanced version of Orbit, its proprietary online portal for members, with new features, a new look and upgraded supporting technology. The portal has now gone live.

  • Bravura signs five-year transfer agency deal with JP Morgan

    2 Jul 2009

    Technology provider Bravura Solutions has signed a five-year transfer agency deal with JP Morgan Chase Bank.

  • BUPA to offer EAP

    1 Jul 2009

    Bupa is to offer a free Employee Assistance Programme (EAP) on group risk products for all new schemes and renewals. All group risk members and their families will have access to the scheme called, Bupa Employee Assistance.

  • Bureau de change

    2 Jul 2009

    You could argue that I am at least a year too late in looking at a global currency fund, as currency movements have become increasingly important to investment of late. My apologies but I had not felt there was much on the market worth highlighting. That seems to have changed with the launch of an offshore global managed currency fund from Schroders.

  • Cable's Eq Life EDM gets 300 MP signatures

    6 Jul 2009

    Liberal Democrats Shadow Chancellor Vince Cable's early day motion calling for the Government to pay compensation for Equitable Life victims has received 300 signatures from cross-party MPs.

  • Calling all prospective bidders

    1 Jul 2009

    Rumours of a rift between the FSA and a disgruntled Financial Ombudsman Service's Walter Merricks have been running strong for a while now so it was no great surprise when news broke that Merricks is leaving the FOS.

  • Cameron promises a "bonfire of the quangos"

    6 Jul 2009

    Conservative leader David Cameron has today promised to cut the number of quangos in a bid to reduce public spending.

  • Capita Hartshead buys Gissings for undisclosed sum

    1 Jul 2009

    Capita Hartshead has bought Gissings for an undisclosed sum. Capita Hartshead says the acquisition will add further capacity and expertise to its actuarial and pensions consultancy business, especially in London and the south-east.

  • Capita Sipps could shed 520 jobs

    1 Jul 2009

    Capita Self Invested Pensions has warned staff that 520 jobs are at risk in its Salisbury and Mumbai operations.

  • Casting doubt

    2 Jul 2009

    M&G managing director global sales Jonathan Willcocks has questioned the demand for absolute return funds.

  • CEIS gives further clarity on Framework Directive for insurers

    3 Jul 2009

    The Committee of European Insurance Supervisors has issued further information on the Framework Directive including additional detail on the calculation of insurance liabilities, the standard formula solvency requirements and eligibility of capital.

  • CII calls for input on CPD

    3 Jul 2009

    The CII is urging members to provide input on how they see the evolution of continuing professional development.

  • 'Commission ban could kill independent advice'

    2 Jul 2009

    Consumer champion Martin Lewis has warned that banning commission payments could leave many consumers without access to independent advice.

  • Commission ban may cause split

    2 Jul 2009

    The regulator has laid down plans for a ban on commission and factoring arrangements with product providers.

  • Commission for Employment & Skills backs Tory calls for QCDA to be scrapped

    7 Jul 2009

    The UK Commission for Employment and Skills is calling for the Qualifications and Curriculum Development Authority to be scrapped.

  • Consumer confidence in economy is rising, says ABI

    2 Jul 2009

    Consumer confidence in the UK economy is rising, the latest Association of British Insurers quarterly savings and protection survey reveals.

  • Consumer Panel says borrowers failing to seek advice on mortgage problems

    6 Jul 2009

    The Financial Services Consumer Panel says 44 per cent of borrowers do not seek advice when they face difficulties paying their mortgage.

  • Cost savings will only take you so far and no further

    1 Jul 2009

    Nearly every day I speak with a customer about their employee benefit spend, how they can save money and the best way to go about itMost clients appear to want their cake and eat it, insofar as they want to reduce their expenditure but are very reluctant or totally unwilling to alter their benefit design.

  • Cover story

    2 Jul 2009

    Changes in the payment protection insurance market have been a long time coming but the present period of flux is welcome and has created massive opportunities for IFAs.

  • Curtis Banks - Sipp

    3 Jul 2009

    Curtis BanksSipp

  • Curtis Banks enters self-invested pension market

    1 Jul 2009

    Curtis Banks is the latest provider to enter the Sipp and SSAS markets.

  • Default lines

    2 Jul 2009

    Default funds are the topic of conversation in pension circles with the Personal Accounts Delivery Authority scrutinising this crucial issue ahead of the 2012 launch.

  • Direct channels and signature tunes

    2 Jul 2009

    What do you think about life offices creating direct salesforces or distributing via alternative channels when they have previously distributed exclusively via the IFA market?

  • Dizzee days

    2 Jul 2009

    Last week saw the long-feared RDR consultation paper make its appearance, the excellent annual protection review and, on a personal note, I succeeded Evan Owen as chairman of the IFA Defence Union. What's more, the redoubtable Andy Milburn of Munich Re fame, christened me "Dizzee", this in reference to East End rapper Dizzee Rascal and his recent chart-topper, "Bonkers".

  • 'Drop in the ocean' for repo help

    2 Jul 2009

    The Department for Communities and Local Government has been criticised for offering just £1.5m for free legal advice to the 65,000 homeowners facing repossession this year, equating to just £23 per person.

  • Due process

    2 Jul 2009

    After receiving a substantial inheritance I approached my existing IFA for some advice on how to invest the money. I have used this adviser in the past for mortgage and life insurance advice but when it comes to investment advice I am less confident in their recommendations. Should I seek a second opinion?

  • Early decision on PSB

    2 Jul 2009

    The financial services industry has welcomed the FSA's decision to accelerate consultation on the Professional Standards Board, which could see it gain statutory powers three years earlier than planned.

  • Easing the Pain

    1 Jul 2009

    Screams of pain are not an everyday experience for those working in the pensions industry but they are becoming more prevalent. One pain in particular now indicates a terminal condition, as we providers find ourselves increasingly being called upon to ease the passing of workforces from defined benefit (DB) to defined contribution (DC) schemes. None of us can take any pleasure in seeing the demise of DB but we can, and do, take some comfort in making conversion easier for employers and ...

  • Economic sentiment betters across Europe

    2 Jul 2009

  • Employee benefit firms in merger

    2 Jul 2009

    Towers Perrin and Watson Wyatt are to merge to create the world's biggest employee benefits consultancy. The new firm is to be called Towers Watson & Co, with Watson Wyatt chief executive John Haley becoming chief executive and Towers Perrin chief executive Mark Mactus becoming president.

  • Engagement with personal accounts is low

    1 Jul 2009

    Employees are still alarming unengaged with personal accounts, warns JLT Benefit Solutions as it publishes researh showing little change in public awareness of pensions reform.

  • Eq Life chairman may stand as MP

    6 Jul 2009

    Equitable Life chairman Vanni Treves has been tipped to stand as an MP at the next general election in an attempt to force the Government to accept the Ombudsman's findings into the collapse of the life office.

  • Ethical dilemma

    1 Jul 2009

    Around 18 per cent more people are intending to invest ethically this year, research published in May by The Co-operative Financial Services. It believes these figures confirm that the financial crisis will indeed promote growth within the green investment arena.

  • F&C becomes independent

    3 Jul 2009

    F&C Asset Management will become independent today with the demerger of Friend’s Provident’s stake in the firm.

  • Fit for purpose

    2 Jul 2009

    The FSA has confirmed that Qualifications and Credit Framework level 4 examination standards will be required for all IFAs, with assessment and/or testing as alternatives to examinations.

  • For what it's worth

    2 Jul 2009

    As an M&A adviser in the IFA sector I am often asked by chief executives of IFA firms, "What should I do to make my company look attractive to a buyer?" The answer is perhaps best considered in light of how buyers value IFA businesses, as those chief executives who get to grips with buyer valuation are in a good position to consider how best to adjust their business model.

  • Friends progresses with single Sipp plans

    1 Jul 2009

    Friends Provident is developing a new individual Sipp to tie in with its corporate platform plans.

  • FSA announces internal restructure

    2 Jul 2009

    The FSA has announced an operational restructure which will include the creation of an international division and the merging of the retail and wholesale supervision teams.

  • FSA bans broker for fraudulent mortgage application

    3 Jul 2009

    The FSA has banned Hornchurch-based mortgage broker Abdul Karim for submitting a mortgage application for himself that was based on false information about his income.

  • FSA fines could treble in size

    6 Jul 2009

    The FSA has today published plans to increase fines by up to 300 per cent through the creation of a more “consistent and transparent framework” for calculating financial penalties.

  • FSA fines insurance broker £20,000

    2 Jul 2009

    The FSA has fined insurance broker AIF Limited director Richard Holmes £20,020 for control failings in relation to an appointed representative firm.

  • FSA hints at individual regulation for mortgage brokers

    7 Jul 2009

    The FSA has hinted that mortgage brokers may have to become approved persons as it looks to reassess mortgage regulation.

  • FSA must take the blinkers off over banks

    2 Jul 2009

    It is heartening to read that the survey commissioned by Sesame concluded that 97 per cent of clients are happy with their IFA and, God bless him, Chris Cummings says that we need the Government and the regulator to build on this level of trust and increase consumer access to independent advice. We surely do.

  • FSA protection probe 'bizarre'

    2 Jul 2009

    Protection experts have attacked FSA plans to scrutinise investment advisers selling protection after the RDR ban on commission.

  • FSA urged to spell out stance on phoenixing

    2 Jul 2009

    The FSA is coming under pressure to clarify its position on phoenixing after the Money Portal transfer of assets and management to Honister Capital.

  • FSSC chief exec resigns- Simon Ellis to head review

    1 Jul 2009

    The Financial Services Skills Council has announced the resignation of chief executive Teresa Sayers and the appointment of Simon Ellis to lead an independent review of its future strategy.

  • FTSE opens higher

    7 Jul 2009

    The FTSE 100 opened higher this morning at 4,202 but struggled to make significant headway.

  • Gilt complex

    2 Jul 2009

    Gilts are something people run to in times of trouble, so it comes as no surprise this sector has been popular in the past year, although not so much of late. In January the sector was the fourth most popular in terms of retail inflows, according to statistics from the IMA.

  • GLG overhauls UK and fixed-interest funds

    2 Jul 2009

    GLG has proposed a series of mergers and closures across a number of its UK and fixed-interest funds.

  • Global Holdings pins hope on Orion Life/SLS court action

    3 Jul 2009

  • Good BTL from TMW but limited appeal

    3 Jul 2009

    The Mortgage WorksOne Year Tracker Buy-To-Let

  • Good groundwork

    2 Jul 2009

    Rob Hain and Andrew Williams swapped top roles at the UK's largest fund house for a small start-up three years ago, wanting to build their business from the ground up.

  • Govt makes concession on Budget pension changes

    6 Jul 2009

    The Government has agreed to increase the maximum annual contribution allowed under its anti-forestalling measures from £20,000 to £30,000 a year, in the interim period before the pension changes come into effect.

  • HL assessing independent label

    2 Jul 2009

    Hargreaves Lansdown says it is reviewing whether to maintain its independent tag as a result of RDR proposals. It says no significant threats, retrospective changes or other costs have been seen as a result of the draft proposals since the bulk of its Vantage business is execution-only.

  • Housing hangover

    2 Jul 2009

    Last week, Fitch revealed that as much as 15 per cent of prime mortgages in the UK are now in negative equity.

  • HSBC Global Asset Management - Capital Protected Plan Isa 16

    3 Jul 2009

    HSBC Global Asset ManagementCapital Protected Plan Isa 16

  • If the price is right

    1 Jul 2009

    It's all change in the group medical insurance market this year as a greater number of schemes switch insurers to fend off financial pressures.

  • Ignis ends multi-manager venture with Maia

    1 Jul 2009

    Ignis Asset Management has terminated its joint multi-manager venture with Maia and is bringing all assets and funds in-house.

  • IMA blasts European politicians over alternatives regulation

    7 Jul 2009

    IMA chairman Robert Jenkins has hit out at the European Union’s proposals for the regulation of the alternatives industry.

  • Intelligent Pensions raises concerns on direct annuities

    7 Jul 2009

    Intelligent Pensions has raised concerns over insurers setting up direct annuity businesses, arguing retirees may struggle to select the best retirement option without advice.

  • Investec Asset Management - American Fund - Class A GDP Hedged Share Class

    3 Jul 2009

    Investec Asset ManagementAmerican Fund - Class A GDP Hedged Share Class

  • Japanese Smaller Companies top the ranks

    7 Jul 2009

  • JOHCM appoints Andy Steel to head private client business

    2 Jul 2009

    JO Hambro Capital Management is to re-brand its private client business following the appointment of Andy Steel as chief executive.

  • Johnson is new chief at Paymentshield

    2 Jul 2009

  • Jubilee launches optimised growth plan

    2 Jul 2009

    Jubilee Financial Products has launched a new structured product which optimises investor ‘entry level’ during the first three months.

  • Jupiter director Hinds to leave firm

    7 Jul 2009

    Jupiter has confirmed that Nick Hinds is to leave the firm today.

  • Just six people helped by rescue

    2 Jul 2009

    Only six struggling homeowners were helped by the Government's mortgage rescue scheme from January to May this year, Department for Communities and Local Government figures reveal. The scheme offers a Government mortgage to rent option or shared-equity option to avoid repossession.

  • Keydata says contract allowed SLS to delay payments

    2 Jul 2009

    Keydata says that a clause in its contract with SLS Capital put in place by David Elias legally allowed his firm to delay making quarterly income payments by up to 90 days.

  • KSFIoM action group seek to remove PwC as liquidator

    6 Jul 2009

    Ninety six per cent of the Kaupthing Singer & Friedlander Isle of Man depositors action group want a complete removal of PricewaterhouseCoopers as liquidator.

  • L&G considers offloading investment arm, say reports

    6 Jul 2009

    Legal & General is considering a sale of all or part of its asset management arm, according to reports.

  • L&G extends direct service to enhanced annuities

    1 Jul 2009

    Legal & General has extended its annuity solutions service to offer enhanced annuities directly to consumers as well as its postcode product.

  • L&G updates protection underwriting criteria

    1 Jul 2009

    Legal & General says its new underwriting criteria will speed up applications for life insurance and critical illness cover.

  • Labour loses IFA votes

    2 Jul 2009

    Only 5 per cent of IFAs would vote for Labour if a general election was held tomorrow.

  • Lead-generation deal tests out the PMI market

    2 Jul 2009

    Leadbay is testing a private medical insurance lead-generation service for advisers.

  • Leading Tory MP says Govt abandoned Lehman investors

    7 Jul 2009

    Conservative MP Ed Vaizey has accused the Treasury of “washing its hands” of the investors who lost millions of pounds in structured products backed by Lehman Brothers following the bank’s collapse last year.

  • Life lessons

    2 Jul 2009

  • Lighthouse launches pension advice service

    6 Jul 2009

    Lighthouse Group has today announced the launch of a specialist advice service to assist its advisers on pension issues.

  • Limited liability

    1 Jul 2009

    Predictions of a trend towards group income protection schemes offering short-term benefit payment periods have been made for a decade now, without ever materialising in anything more than a limited way.

  • Lindsay Tomlinson elected as new NAPF chairman

    1 Jul 2009

    Lindsay Tomlinson has been elected as the new chairman of the National Association of Pension Funds. He will take over from Chris Hitchen whose two-year term of office ends at the NAPF annual general meeting on 16 October 2009.

  • Macquarie Group blames global economy for 52% drop in profits

    3 Jul 2009

    Macquarie Group has blamed the global economy for its 52 per cent drop in post-tax profits for the year ending May 2009.

  • Malone may leave PMS in fury at Sesame deal

    1 Jul 2009

    PMS managing director John Malone is understood to be furious after not being consulted on Sesame's proposed acquisition of Bankhall and is thought to be planning to leave the firm.

  • Manager focus: Scott McGlashan

    3 Jul 2009

  • Mandelson proposes consumer advocate to resolve group disputes

    2 Jul 2009

    First Secretary of State for Business Lord Mandelson has proposed a new consumer advocate should be established to handle collective disputes relating to consumer credit agreements

  • Market legacy

    2 Jul 2009

    With a global banking crisis more or less averted, it is time to look at solving another puzzle before the housing and mortgage market can recover.

  • Martin Currie promotes Porter to co-manager on global funds

    2 Jul 2009

    Martin Currie has promoted Alan Porter to co-manager of its global and global alpha retail products.

  • Master Adviser chooses Ascentric as wrap provider

    1 Jul 2009

    Wealth manager Master Adviser IFA has selected Ascentric as its chosen wrap platform.

  • Medicals Direct acquires Capita's medical business

    7 Jul 2009

    Medicals Direct Group has acquired the medical support business of Capita Insurance Services.

  • Merricks quits as FOS chief after 10 years

    2 Jul 2009

    Chief ombudsman Walter Merricks is to step down from his role at the Financial Ombudsman Service after 10 years in the post.

  • MM twittering on Treasury Select Committee

    7 Jul 2009

    Money Marketing will be twittering from the Treasury Select Committee evidence session on mortgage arrears this morning.

  • Moonraker says smaller is better

    2 Jul 2009

    Fund of hedge fund manager Moonraker Fund Management says it prefers to invest in small funds where the biggest investor is the fund manager.

  • Moral issues cloud life settlement sales

    2 Jul 2009

    Moral issues present a barrier to sales of life settlement funds despite record earnings in recent months.

  • Morgan Stanley - Emerging Markets growth Plan 7

    3 Jul 2009

    Morgan Stanley Emerging Markets Growth Plan 7

  • Morning after

    2 Jul 2009

    The second quarter of 2009 saw a strong recovery in risk assets as fears of systemic failure in the financial system gave way to hopes that economic recovery is imminent.

  • Myners warns over excessive arrears charges

    7 Jul 2009

    City minister Lord Myners says he has concerns over lenders levying excessive arrears charges onto consumers.

  • Neptune overpriced three funds

    6 Jul 2009

    It has emerged that Neptune Investment Management compensated investors in three of its funds earlier this year after mispricing them.

  • New group business from Unum

    1 Jul 2009

    Unum is launching a new website for group advisers, complementing its recent launch of one for individual product advisers. The site is at unum4advisers.co.uk.

  • New venture for ex-Insight staff

    2 Jul 2009

    Former Insight Investment multi-managers Patrick Armstrong, Ana Cukic Armstrong and Toby Hayes are launching Ucits III multi-asset funds and a qualified investor fund range for their new venture, Armstrong Investment Management.

  • Nick Kelly

    2 Jul 2009

  • Nick Prettejohn steps down as Pru UK chief

    2 Jul 2009

    Nick Prettejohn is to step down from his position as chief executive of Prudential UK and Europe in September this year.

  • NMG merges with H2B

    1 Jul 2009

    Financial services research firms NMG and H2B are merging from July 1.

  • No restriction on vigilance

    2 Jul 2009

    The FSA will be extra-vigilant when policing the new independent and restricted advice categories after RDR, warns director of retail policy and conduct risk Dan Waters.

  • Non-PMI intermediaries targeting healthcare sector

    1 Jul 2009

    The healthcare sector is expanding to incorporate increasing numbers of IFAs and brokers that have never sold PMI before, according to Association of Medical Insurance Intermediaries' (AMII) general secretary Michael Payne.

  • Northern Rock capital ratios below regulatory minimum

    2 Jul 2009

    Northern Rock has revealed its capital ratios are below the regulatory minimum.

  • Novia criticises FSA's failure to promote unbundled pricing in RDR

    2 Jul 2009

    Wrap provider Novia has criticised the FSA for failing to highlight the need for more platforms to unbundle their prices for advisers and their clients in its RDR consultation paper.

  • Octopus creates IHT solution

    6 Jul 2009

    The Octopus enhanced discounted gift solution combines the immediate tax benefits of a discounted gift trust with 100 per cent IHT relief after two years through the existing Octopus secure inheritance tax service.

  • Octopus Investments - Enhanced Discounted Gift Solution

    3 Jul 2009

    Octopus InvestmentsEnhanced Discounted Gift Solution

  • Paper trail

    2 Jul 2009

    Hopefully, by the time you read this, the top-line analyses of the RDR will have worn away and we can look forward to some serious engagement with the detail in the paper.

  • Patrick Snowball appointed chief executive of Suncorp

    2 Jul 2009

    Former Towergate Financial Services chairman Patrick Snowball has been appointed chief executive of Australian insurance giant Suncorp.

  • Pension purgatory

    2 Jul 2009

    The trouble with most decisions made by those who have gained political power and, almost by definition, have lost touch with reality as a result, is the resultant law of unintended consequences.

  • Pensions auto-enrolment could lead to 200,000 job losses

    3 Jul 2009

    Auto-enrolment into pension schemes could result in 200,000 job losses, a study by the University of Warwick has found.

  • Personal accounts charging structure will not affect opt outs says Aegon

    1 Jul 2009

    The charging structure of personal accounts will not affect consumers' decisions about whether or not to opt out says Aegon.

  • Perspective buys McGregors Wealth Management

    7 Jul 2009

    IFA consolidation vehicle Perspective Financial Group has bought its eighth firm, McGregors Wealth Management.

  • Politicians will be judged on commitment to workplace pension reform, says ACA

    1 Jul 2009

    Politicians will be judged on their commitment to workplace pensions reform at the next election, according to the Association of Consulting Actuaries.

  • Pos Sol calls for FSA RDR consumer awareness campaign

    2 Jul 2009

    Positive Solutions is calling on the Financial Services Authority to launch a consumer awareness campaign highlighting the benefits of the RDR.

  • Premium bonds

    2 Jul 2009

    Despite an uncertain economy, a growing feeling that we might be over the worst of the financial crisis has led to improved sentiment in investment-grade corporate bond markets.

  • Premium risk

    1 Jul 2009

    Aegon’s withdrawal from the group risk market may have caused a short-term feeding frenzy for those providers scooping up their business, but some experts predict the move may also herald the dawn of a leaner era for the sector.

  • Property - safe as houses?

    6 Jul 2009

    Industry experts are divided over whether the battered property sector is beginning to stabilise and could offer an attractive income story for investors in the low interest rate environment.

  • RBS Intermediary Partners - 3 Year Fixed Shared Equity

    6 Jul 2009

    RBS Intermediary Partners3 Year Fixed Shared Equity

  • RBS IP launches shared equity mortgages

    3 Jul 2009

    RBS Intermediary Partners has launched three shared equity mortgage products exclusively for intermediaries.

  • RDR at a glance

    2 Jul 2009

    Sector to be split between independent advice, restricted advice and non-advised sales. Restricted advice will include single- and multi-tied advisers who will have to reach QCF level four along with independent advisers.

  • RDR could be a positive force but questions remain

    2 Jul 2009

    Last week's RDR consultation paper is a step in the right direction but some important questions remain.

  • RDR redefines independent' adviser label

    2 Jul 2009

    The latest RDR consultation paper has split the sector into independent advice, restricted advice and non-advised sales and introduced a new definition of independence.

  • Recruitment of high quality staff remains a challenge for two-thirds of UK firms

    1 Jul 2009

    Retention of top talent remains a major issue for employers despite the unprecedented financial instability, according to research from Origen.

  • Reform school

    2 Jul 2009

    With the 2007 and 2008 Pension Acts on the statute books, it is tempting to think the pension reform agenda is done and dusted but several pieces of the jigsaw still need to be put in place.

  • Reid calls for forestall exemption

    2 Jul 2009

    Syndaxi Chartered Financial Planners managing director Robert Reid is calling on the Government to exempt people on the brink of taking pension benefits from anti-forestalling measures under changes to pension tax relief.

  • Revenue bank code to cut tax loss

    2 Jul 2009

    HM Revenue & Customs has launched a consultation paper into a code of practice on tax for banks. The code hopes to minimise tax avoidance, since big businesses such as banks will have a clear understanding of expected behaviour from tax authorities.

  • Ripple effect

    2 Jul 2009

    Last week's publication of the retail distribution review was not directly relevant to mortgages. However, there will likely be some sort of read across to the sector in due course. Implementation of the RDR is not scheduled until 2012 and it has been years in the making. It is therefore highly improbable that any similar changes to mortgage regulation will take place for at least three years, especially seeing as the implications of the forthcoming European Commission mortgage directive ...

  • Rise of the machines

    1 Jul 2009

    To find a solution to this dilemma I believe it is important to take into account the significant changes in behaviour between different generations of consumers. The generation approaching retirement have accumulated considerable wealth from which they can pay for advice to meet their needs. This is not however a practical approach for consumers at the start of their financial life. To meet the needs of this market will require far greater innovation and creativity.

  • Risk and responsibility

    1 Jul 2009

    The demise of final salary schemes continues apace. There are now just three FTSE100 companies that have open defined benefit schemes following the move by BP to close its scheme to new employees.

  • RLAM renames strategic growth trust

    1 Jul 2009

    Royal London Asset Management has changed the name of its UK strategic growth trust to Royal London UK mid-cap growth trust in order to more accurately reflect its investment objectives.

  • Robert Graves appointed to head of technical services at Rowanmoor

    1 Jul 2009

    Robert Graves has been appointed to head of technical services at Rowanmoor Pensions, where he will be responsible for the overall technical services within the business.

  • Role review for FSSC

    2 Jul 2009

    The Financial Services Skills Council has appointed Simon Ellis to conduct an independent strategic review of its future role and strategy. following the decision by the Government and Devolved Administrations to extend the FSSC's existing licence.

  • Rose moves into chalet business

    2 Jul 2009

    Chandos Rose founder Philip Rose is taking a back seat at the firm to set up an Alpine chalet rental business.

  • S&P announce 'record dividend low'

    2 Jul 2009

  • Saving in the workplace

    1 Jul 2009

    Saving is the new black. In the wake of the recent financial crisis, research* shows we are abandoning the ‘spend now pay later’ culture and taking a more prudent attitude to credit card debt. But how many of us have thought about the benefits of saving regular amounts deducted from wages through the workplace? Putting aside money before we are tempted to spend it can help in a number of ways - to have rainy day money available for short term emergencies, to save for the medium term (sunny ...

  • Sesame deal to strengthen IFA offering, says Bankhall

    2 Jul 2009

    Bankhall is positive about the offer made by Sesame for the business and says the combined entity will enhance the services available to IFAs.

  • Sesame pans oral exams

    2 Jul 2009

    Sesame has warned that the FSA's plans to allow oral assessments for QCF level four will not do enough to recognise advisers' skills.

  • Sesame set for Bankhall and PMS deal

    2 Jul 2009

    Sesame is in talks with Skandia over the potential acquisition of Bankhall and PMS.

  • SFO probes £100m shortfall at Keydata

    2 Jul 2009

    The Serious Fraud Office has been called in regarding over £100m of potentially missing assets associated with a number of Keydata plans.

  • Shadow Chancellor investigated over expenses

    3 Jul 2009

    Conservative shadow Chancellor George Osborne is being investigated by the parliamentary standards watchdog over his mortgage allowances.

  • Skandia disclosure plea over restricted advice

    2 Jul 2009

    Skandia has called on the FSA to go further in its disclosure requirements for restricted advice.

  • Skandia to sponsor golf tour

    3 Jul 2009

    Skandia has been named as an official sponsor of the European Senior Golf Tour’s 2009 Senior Open Championship.

  • Skipton and Newcastle building societies deny takeover talks

    6 Jul 2009

    Skipton and Newcastle building societies have both denied reports that they are in talks over a potential takeover deal.

  • Standard & Poor’s puts F&C Asset Management on negative credit watch

    2 Jul 2009

    Standard & Poor's Ratings Services has placed its 'BBB-/A-3' long- and short-term counterparty credit ratings on F&C Asset Management PLC on CreditWatch with negative implications.

  • Standard Life scraps plans for £240 Sipp charge on wrap

    6 Jul 2009

    Standard Life has abandoned its plans to replace its £200 non-core Sipp charge with a flat £240 fee.

  • Starting grid

    1 Jul 2009

  • Starting grid

    1 Jul 2009

    The phrase 'risk aversion' could have been invented to describe the antipathy most people show towards paying attention to anything to do with group life, income protection and critical illness cover. Turning that situation on its head is now the day job of newly appointed Group Risk Development (GRiD) spokesperson Katharine Moxham.

  • Structured argument

    2 Jul 2009

    FOR

  • Taken on trust

    2 Jul 2009

    Especially in the years of burgeoning residential property and investment values, inherit-ance tax was a hot topic.

  • Tesco to bid for Northern Rock, say reports

    1 Jul 2009

    Tesco is a potential bidder for state-owned bank Northern Rock.

  • The big issue

    2 Jul 2009

    Unless you were on a different planet last week or took a holiday and missed all the fuss, the final FSA retail distribution review consultation paper was published.

  • The custard clause

    2 Jul 2009

    OK, I give up - where's it hidden? I know it has to be in there someplace but I've had a good old rummage around and I can't seem to find it anywhere.

  • Thomsons Online Benefits strengthens global employee benefit consulting team

    1 Jul 2009

    Marcus Underhill and Allen Wu have joined Thomsons Online Benefits to strengthen its global employee benefit consulting team. Underhill, who will be based in London, has been appointed as global reward director.

  • Time for Change

    1 Jul 2009

    Undoubtedly, change is inevitable. Within distribution models, especially around remuneration and the value chain of who does what for the client, a significant change to the pensions landscape is taking place with the introduction of personal accounts, and the evolution of workplace wealth services. As Sir Callum McCarthy, then Chairman of the Financial Services Authority (FSA), assessed,“we have at present a business model which is based on incentives which produce results which are ...

  • Time will tell

    2 Jul 2009

    It seemed to me for a while last week that the long-awaited (by some) pullback in share prices had begun.

  • Towry Law pre-tax profits plunge

    3 Jul 2009

  • TPAS voices Sipp suitability concerns

    2 Jul 2009

    After numerous probes by the FSA, The Pensions Advisory Service is now flagging up issues regarding the suitability of advice around self-invested personal pensions.

  • TPD, or not to be - that is the question

    7 Jul 2009

    The ABI's statement of best practice for critical illness cover consultation paper has finally been published and its proposal to scrap total permanent disability has created intense industry debate.

  • Trustees must see accounting limitations - Boyle

    1 Jul 2009

    Trustees of final salary pension schemes and the directors of sponsoring companies must recognise the limitations of accounting and actuarial information related to pensions, says Paul Boyle, chief executive of the Financial Reporting Council.

  • Turner focuses on effectiveness

    2 Jul 2009

    FSA chairman Lord Adair Turner has dismissed reports of a rift between himself and Bank of England governor Mervyn King.

  • Turner wants pension age raised to 70

    3 Jul 2009

    FSA chairman Lord Turner says he wishes he'd been more radical in his Turner Report on pensions and said there were arguments for raising the state pension age to 70.

  • UBS Wealth Management closes Brighton office

    1 Jul 2009

    UBS Wealth Management has closed its Brighton office and transferred clients to London base after two investment managers left the firm.

  • Up close and personal

    1 Jul 2009

    With the onset of the personal accounts regime looming ever larger, the challenge is on for both advisers and product providers to prove to companies the value of offering their staff a private sector pension.

  • Watson Wyatt cool on block transfer of Aegon group risk book

    1 Jul 2009

    Block transfers of Aegon group risk business could breach advisers' duties to their clients because better risks could be subsidising bad ones, warns Watson Wyatt.

  • Weaving a Wheb for sustainable investment

    3 Jul 2009

    Wheb Asset Management, a specialist investor in sustainable investments that was formed last year, has introduced the IM Wheb sustainability fund.

  • Website comments

    2 Jul 2009

    On last week's RDR consultation paper publication It is very heartening to see the FSA tackling at last the menu of industry failings, in particular, the comm-ission issue, which has been the intermediaries' Achilles heel for so long.

  • Work-based alternative to level-four exam

    2 Jul 2009

    Work-based assessment will be permitted as an alternative to exams for advisers to reach qualifications credit framework level four.

  • Wrap to the future

    1 Jul 2009

    Can the best of wrap be married to the best of flexible benefits to create the perfect corporate adviser's wrap and benefits platform?

  • Zurich bond opens factory gates

    3 Jul 2009

    The Zurich international portfolio bond is designed to provide flexibility, a wide investment choice and transparency for high-net-worth UK investors.

  • Zurich Financial Services - Guaranteed Account 3

    3 Jul 2009

    Zurich Financial ServicesGuaranteed Account 3

  • Zurich- International Portfolio Bond

    3 Jul 2009

    ZurichInternational Portfolio Bond

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Money Marketing 7 June 2012


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