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Money Marketing Cover

1 October 2008

Money Marketing

  • 1st – The Exchange launches service direct to BlackBerry

    2 October 2008

    Technology solutions provider 1st – The Exchange has unveiled its plans to offer comparative term quotes service direct to an intermediaries BlackBerry.

  • 29% Expect to live on state pension

    2 October 2008

    Standard Life's latest savings and investment index shows that consumers are still alarmingly misguided when it comes to saving for their retirement.

  • 50% of employed women without protection, reveals Axa

    3 October 2008

    Research by Axa reveals eight million women working in Britain have no form of protection despite having financial commitments.

  • A&L fined £7m and ordered to pay redress for PPI failings

    7 October 2008

    Alliance & Leicester has been fined £7m and agreed to pay redress to customers for PPI misselling.

  • Adviser Fund Index

    2 October 2008

    The FSA's decision to temporarily ban the short-selling of certain stocks caught the City by surprise. The ban, imposed with immediate effect from September 18, prohibits the "active creation or increase of net short positions" in over 30 quoted financial companies until January 16, 2009. Investors are also required to disclose positions greater than 0.25 per cent of the ordinary share capital of the affected firms.

  • Aegon combines corporate and individual businesses

    2 October 2008

    Aegon is to merge its individual and corporate life and pension arms.

  • Aegon says “handful” of Sipp customers may be affected by GuestInvest administration

    3 October 2008

    Aegon says that a small number of clients that invested in GuestInvest hotel rooms through its Sipp could be affected by the company filing for administration.

  • 'AIG clients forced into decision on enhanced fund'

    1 October 2008

  • AIG Life UK says policyholders will not have to make decision in the dark

    1 October 2008

    AIG Life UK has promised to send out sufficient information to enable investors in its enhanced fund to make an informed decision on whether to remain invested in the fund or redeem their investments.

  • AIG to sell AIG Life UK parent Alico

    6 October 2008

    AIG chairman and chief executive officer Edward Liddy has announced Alico, the subsidiary that encompasses AIG Life UK, is up for sale.

  • Alexander Forbes Annuity Bureau announces latest annuity rates

    3 October 2008

    Alexander Forbes Annuity Bureau has announced that annuities have been unaffected by the credit crunch.

  • Allianz SE injects £1.42bn into The Hartford

    6 October 2008

    Allianz SE has invested £1.42bn in The Hartford Financial Services Group.

  • AMI applauds Cameron's call for 'sound money'

    3 October 2008

    The Association of Mortgage Intermediaries has welcomed Conservative leader David Cameron’s call for “sound money”.

  • Ansbacher questions Anthony Bolton for "calling bottom of market"

    7 October 2008

    Ansbacher chief investment officer Mike Hollings has questioned Fidelity's Anthony Bolton for “calling the bottom of the market”.

  • Arch expands into Asia and Middle East

    6 October 2008

    Arch Financial Products, the investment manager, has bought a 48 percent stake in offshore IFA firm Financial Partners Group.

  • B&B and Mortgageforce deal to place borrowers

    1 October 2008

    Mortgageforce has revealed that Bradford & Bingley could be calling on them to place its existing borrowers when they reach the end of their deal.

  • Barclays did not ask for extra capital from Government, says Varley

    7 October 2008

    Barclay’s chief executive John Varley says the bank has not requested capital from the Government following a late night meeting with Chancellor Alistair Darling.

  • Barnes steps down as Bestinvest CEO

    2 October 2008

    Bestinvest chief executive Andrew Barnes has left the firm after two years.

  • BCC survey shows UK in "worsening recession"

    7 October 2008

    The British Chambers of Commerce quarterly economic survey has suggested the UK is in a “worsening recession”.

  • 'Big bank deposits put pension funds at risk'

    1 October 2008

  • Bright Grey launches lifestyle calculator

    1 October 2008

    Protection provider Bright Grey is launching an online calculator to help advisers work out a client’s lifestyle costs then demonstrate how much protection they can afford.

  • Broker Talkback

    2 October 2008

    Do you agree with the Government's decision to nationalise Bradford & Bingley?

  • Brokers fear buy-to-let drought

    1 October 2008

    Mortgage brokers have raised concerns over the future placing of Bradford & Bingley's buy-to-let customers and fear that a funding drought will affect the whole market.

  • Brought to account

    2 October 2008

    Most of us can probably remember the time when we finally grew up financially or rather when it seemed to us at the time that we had finally grown up, whereas in fact we have remained childishly ignorant about money matters all our lives.

  • Bye-bye PPI?

    1 October 2008

    Payment protection insurance has conjured up industry reaction yet again with consumer body Which? calling on the Financial Services Authority for reform, and the FSA itself announcing its plans to increase its intervention into the sale of PPI.

  • Call to widen safety net

    2 October 2008

    Financial Services Consumer Panel chairman Lord Lipsey says the 35,000 guarantee on deposits should apply to each brand rather than each bank.

  • Cameron - only change will fix the economy

    1 October 2008

    David Cameron has pledged to fix the UK economy with “sound money” and a limit to Government spending.

  • Cameron urges cross-party unity to tackle finance crisis

    2 October 2008

    Conservative leader David Cameron has called for cross-party co-operation to tackle the financial crisis and avoid the "political wrangling" that saw the US bailout fail.

  • Cameron's attack dog or puppy-dog?

    2 October 2008

    Cameron’s 'attack dog' Chris Grayling - as he is fondly known by his rivals - barely even bared his teeth at this year's Conservative conference in Birmingham.

  • Cavanagh 'not complacent' as profits up 23%

    2 October 2008

    IFA Cavanagh Group saw profits increase by 23 per cent to £1.078m in the six months to June 30 from £875,000 in the same period last year.

  • Chancellor renews pledge to do "whatever it takes" for financial stability

    6 October 2008

    The Chancellor Alistair Darling has repeated the Government’s pledge to do “whatever it takes” to restore financial stability.

  • Cherrypicking fears loom over banking cover

    2 October 2008

    Advisers are split over whether or not people working in the banking sector have left it too late to buy insurance cover, with some fearing that cherry-picking is imminent.

  • City leader's worst year since 1974

    2 October 2008

    A City official warned there could have been an economic depression if the US government had not bailed out AIG, Freddie Mac and Fannie Mae.

  • Clarification of Sipps needed

    1 October 2008

    Leading IFA John Fox has called for the imminent clarification on the definition of Sipps, following the Government’s changes to protected rights today.

  • Class action

    2 October 2008

    Over the last few years, the prices of most asset classes have risen strongly and a major factor behind this has been the availability of cheap money. This continued to be the case until about a year ago. Almost all assets rose whereas their performance would normally have diverged to a greater extent. This process was driven by strong flows of liquidity into markets.

  • Client would have done better to put money in tin box

    2 October 2008

  • Close as we get to panacea

    2 October 2008

    Wrap a panacea or a gimmick? To answer this question, we first have to ask ourselves, what is the role of an IFA? If the answer to that question is to sell a client a product based on charges alone to suit the here and now and then move on to the next client, then wrap is just another sales gimmick with a short lifespan.

  • Collegiate says Lehman may force PI rise

    1 October 2008

    PI insurer Collegiate Management Services has warned that recent problems with Lehman Brothers-backed structured products could see PI increases.

  • Confusion as FOS oversteps its line

    2 October 2008

    The interaction between the Financial Ombudsman Service and FSA has been blamed for creating confusion on issues like treating customers fairly.

  • Consumer Panel chairman calls on Govt to guarantee all deposits

    2 October 2008

    Financial Services Consumer Panel chairman Lord Lipsey has called it a “national disgrace” that the Government will not guarantee all bank deposits.

  • Cooper warns against regulatory overkill

    2 October 2008

    Chief secretary to the Treasury Yvette Cooper has urged that current market turmoil should not provoke a move to rules-based regulation while admitting that regulators need to understand risks better.

  • Credit supply bleaker than predicted

    2 October 2008

    The supply of credit on secured households has been reduced by more than lenders predicted in the last quarter.

  • Crisis of confidence

    2 October 2008

    How must consumers be feeling about the financial services sector right now? At a time when our industry has been devoting so much energy and resources to increasing consumer understanding and confidence in financial services, we can only speculate about how much of that work has been eroded by recent events.

  • Crunch time for small funds?

    2 October 2008

    Nearly 500 UK retail funds are running with less than £10m in assets, research from Money Marketing has found. The survey, in conjunction with Financial Express, raises questions over how profitable it is for fund firms at a time when the credit crunch is pushing profit margins to the limit.

  • Dame Carol Black talks workplace wellness, financial incentives and stress-testing products for employers

    1 October 2008

    Ministers may have steered her away from fiscal incentives, but Dame Carol Black's report into workplace wellbeing is now being taken forward by Government. John Greenwood finds out more

  • Darling to announce bail-out plan this afternoon

    6 October 2008

    Chancellor Alistair Darling may announce Treasury plans to take shareholdings in the biggest high street banks if the financial markets worsen today.

  • Dawn of the age of Architas

    2 October 2008

    Architas Multi-Manager has brought in Dawn Kendall as head of product development and investment strategy.

  • Dickie in counterparty challenge to providers

    1 October 2008

    Barclays Wealth director Colin Dickie has challenged other structured product providers to reveal the underlying counterparty rather than simply stating it is a firm rated A by an agency.

  • Difference of opinion

    2 October 2008

    Two funds for the price of one this week. Allianz RCM Bric stars and Aberdeen emerging markets inhabit a similar space. The latter has come in for criticism over the last few years because despite making excellent returns, it has lagged behind its peer group. Yet if you understand Hugh Young's investment style, this was to be expected. Needless to say, over the last few months, it has outshone the rest of the global emerging markets sector.

  • EU leaders affirm need for co-ordinated response to crisis

    7 October 2008

    European Union leaders have issued a joint statement reasserting their commitment to a coordinated response to the financial crisis.

  • EU ministers lift minimum saver protection to 50,000 Euros

    7 October 2008

    European Union finance ministers have agreed to lift depositor protection to a minimum of 50,000 Euros or £38,900.

  • European legal action launched on Lehmans-backed structured products

    2 October 2008

    Investor rights group Deminor is launching legal action on behalf of people who have lost money through Lehman Brothers-backed structured products.

  • Evershed hands over reins of New Star select fund

    2 October 2008

    Hargreaves Lansdown investment manager Ben Yearsley says the departure of New Star select opportunities manager Patrick Evershed will not surprise the market.

  • Ex Lloyds chief backs takeover

    1 October 2008

    Lloyds TSB former chief executive Brian Pittman says he is sure that the deal between his former bank and HBOS will go through.

  • Ex-FSA chairman Davies urges Govt to take stakes in banks

    6 October 2008

    The former chairman of the FSA Howard Davies has urged the Government to take 10 - 20 per cent stakes in banks prevent them from having to be fully nationalised at a later stage

  • F&C adds Sonnbichler to team

    2 October 2008

    F&C Investments has appointed Oliver Sonnbichler as a fund manager within its multi-manager team.

  • Failure not an option

    2 October 2008

    Only a year ago, there appeared to be attractive investment opportunities in a myriad of sectors and locations. Global economic growth was strong, interest rates were low, debt was readily available and the equity market bull run was in its fourth year.

  • Fears raised on principles

    2 October 2008

    Federation of Small Businesses head of policy Andrew Cave has warned that the move to principles-based regulation is creating problems for firms.

  • Fidelity International Urges Action on DC Default Funds

    2 October 2008

    Fidelity International has called for companies with DC pension schemes to act now to review whether their default fund is up to the job of getting investors ready for retirement.

  • Fitch puts Hartford Financial Services ratings on negative outlook

    2 October 2008

    Fitch has placed several ratings for the Hartford Financial Services Group on negative outlook due to exposure to “troubled credits”.

  • 'Fortis bailout will not hit UK offering'

    2 October 2008

    The multi-nationalisation of Belgium bank Fortis has had no impact on its UK offering, says Fortis Life UK managing director Martin Werth.

  • Fortis seals £312m deal with Artemis

    1 October 2008

    Belgium bank Fortis has taken sole shareholding position of Artemis, increasing its 67.1 per cent stake in the business.

  • FOS set to name and shame firms with most complaints

    2 October 2008

    The Financial Ombudsman Service has announced plans to name and shame financial firms with poor complaint-handling statistics.

  • FSA warns on protected rights' advice

    2 October 2008

    Firms must ensure they give consumers suitable advice about transferring built-up National Insurance rebates into self-invested personal pensions, says the FSA.

  • FSCS compensation limit jumps to £50,000

    3 October 2008

    The FSA has increased the compensation limit for bank deposits from £35,000 up to a total of £50,000 for individual customer claims from October 7.

  • FSCS says no bill for IFAs at least till 2011 as levy for banks jumps to £450m from £5m

    2 October 2008

    Deposit-taking firms will need to stump up more than £450m in Financial Services Compensation Scheme levies next year following Bradford & Bingley’s collapse, compared to the £5m they contributed this year.

  • FTSE 100 peers over 5,000 off the back of bail-out deal

    2 October 2008

    The FTSE 100 crawled over the 5,000 mark this morning following the early approval of the second bail-out plan in the US.

  • FTSE 100 slumps to 4-year low

    6 October 2008

    The FTSE 100 index has fallen 7.85 per cent today, closing at 4,589, a low last seen in September 2004.

  • GE Money gets £1.1m fine for overcharging

    2 October 2008

    GE Money has become the first UK lender to be sanctioned by the FSA for its lending processes after being hit with a £1.12m fine.

  • German savers get 100% guarantee

    6 October 2008

    The German government announced yesterday that it would guarantee all private savings accounts, worth approximately £390bn, in order to increase confidence in the financial system.

  • GMAC seeks buyer for rejected £1bn book

    2 October 2008

    GMAC-RFC has revealed that it is looking for a lender to take up the remaining £1bn of mortgages rejected by Bradford & Bingley last week.

  • Goldsmith Williams launches equity release service

    1 October 2008

    Goldsmith Williams has launched GW Lifetime to cater for the needs of the equity release market.

  • Hammer to fall on AIG Life UK

    6 October 2008

    AIG Life UK is now up for sale as AIG scrambles to raise funds to repay its £35bn loan from the Fed.What this means for UK investors remains, as with many things in the current climate, unclear.

  • 'HBOS chiefs must be held to account'

    2 October 2008

    Labour peer and former deputy chairman of the Competition Commission Baroness Kingsmill has expressed "extreme concern" over Lloyds TSB's takeover of HBOS.

  • High Court, FSA and Bank of Spain approve Santander/A&L deal

    7 October 2008

    The High Court of Justice, the FSA and the Bank of Spain have given Banco Santander the green light to takeover fallen bank Alliance & Leicester.

  • Iceland trade unions urged to bolster liquidity

    6 October 2008

  • Iceland’s FSA halts trading in banking stocks

    6 October 2008

    Iceland’s Financial Services Authority has halted trading in banking stocks ahead of an expected government announcement.

  • Icesave stops deposit withdrawals as Icelandic Government takes over parent

    7 October 2008

    The Icelandic Government has taken over Landsbanki with immediate effect leading to Icesave stopping depositors from taking out funds.

  • IFAs facing levy rise over B&B

    1 October 2008

  • IFAs fear providers are not ready for new Sipp powers

    2 October 2008

    More than a fifth of IFAs believe their main Sipp provider will not be ready to accept protected rights when the new powers come in to play this week.

  • ifs unveils plans to offer LTC exam

    3 October 2008

    Ifs School of Finance has unveiled its plans to offer a qualification in long term care after Britain’s leading political parties described it as an area requiring attention during this year’s conference party season.

  • Industry disappointed with new Crosby delay

    1 October 2008

    The long-awaited Crosby report into funding the mortgage market has been delayed again.

  • Insurers let down by their websites

    2 October 2008

    Sixty-eight per cent of consumers prefer to use the web to research life insurance policies, according to a survey by Global Reviews.

  • Investors set to bring class action against banks

    1 October 2008

    Criminal lawyer Joseph Hill is forming a lobby group of investors in AIG Life's enhanced fund, with a class action against AIG Life and four private banks that recommended the product on the cards.

  • Joined at the IP

    2 October 2008

    How can we get more clients to take out income protection? One would be hard pushed to find an IFA who does not believe in the benefits of IP but it is not hard to find an adviser who struggles to sell it. Poor awareness, complicated processes, high rates and the complexities of products and underwriting all result in low numbers of sales.

  • Kitty Ussher swaps Treasury for DWP

    6 October 2008

    Economic secretary to the Treasury Kitty Ussher is moving to the DWP to become a parliamentary undersecretary.

  • 'Labour will bury head in sand over means-testing'

    2 October 2008

    Conservative shadow work and pensions secretary Chris Grayling expects the Government to bury its head in the sand over the impact of means-testing on personal accounts.

  • Last convert to fall

    2 October 2008

    Bradford & Bingley was part-nationalised this week after the Government and the FSA decided that it could not fund itself as a bank.

  • Lehman CEO Richard Fuld paid £172m since 2000

    7 October 2008

    The CEO of Lehman Brothers, Richard Fuld, admitted he took more than £172m in pay and bonuses from the bank since 2000.

  • Lenders admit it is pointless to predict price movements

    2 October 2008

    The Council of Mortgage Lenders has admitted it has given up trying to predict house price movements in 2008.

  • Life goes on

    2 October 2008

    We are living in strange times. The world financial crisis continues its rollercoaster course and talk of recession and even depression abounds.

  • Liontrust chief aims to build on infrastructure

    2 October 2008

    Liontrust fund manager Jer-emy Lang believes that there will be numerous stock opportunities as the market endures a difficult economic environment over the next 12 months.

  • 'Living Time buffeted but unbowed in the storm'

    2 October 2008

    The whirlwind in global fin­ancial markets has obviou­sly been a huge challenge for Living Time along with advisers and their clients, testing not only the strength of dem­and for our products but our relationships with the IFAs who recommend our plans.

  • Lloyds a race-winning tortoise

    2 October 2008

    Conservative shadow chief secretary to the Treasury Philip Hammond has urged banks to learn from Lloyds TSB - a race-winning "tortoise" compared with the failed hares of the banking sector.

  • Lloyds/HBOS must go through - intermediaries say

    1 October 2008

    Mortgage and investment intermediaries believe the Lloyds TSB HBoS deal will go ahead despite stock market concerns about the deal. But brokers want to see an end to the continuing uncertainty.

  • LV= launches large case service

    1 October 2008

    Protection provider LV= has unveiled its plans to draft in a team of specialists to front its new large case service for advisers dealing with high net worth clients.

  • M&G backs Lloyds takeover of HBOS

    3 October 2008

    M&G, one of the largest shareholders of Lloyds TSB and HBOS, has announced it will back the Lloyds takeover on its current terms.

  • Malcolm Calvert - an apology

    2 October 2008

    On July 24, Money Marketing Online incorrectly reported that Mr Malcolm Calvert of IFA firm Buckland Harvester Ltd was being prosecuted for 12 counts of insider trading by the FSA.

  • Mandelson to make Cabinet comeback as Business Secretary, say reports

    3 October 2008

    Peter Mandelson is set to return to the cabinet as Secretary of State for Business, according to reports.

  • Massive blow for choice

    2 October 2008

    The mortgage industry or, at least the distribution side of it, believes that Bradford & Bingley had to be nationalised.

  • Meteor closing in on deal

    1 October 2008

    Meteor Asset Management says it is close to securing a new counterparty for four structured products originally earmarked for Lehman Brothers.

  • Meteor gives update on structured products backed by solvent Lehman subsidiaries

    6 October 2008

    Meteor Asset Management has written to advisers and clients telling them that direct investments backed by solvent Lehman subsidiaries or with third parties are “probably fully recoverable" although it stresses this situation may well change.

  • MGM Advantage appoints new commercial actuary

    3 October 2008

    MGM Advantage has appointed Mark Joannes as its commercial actuary in its Designs for Retirement team.

  • Ministers play a blame game

    2 October 2008

    "Global" was the buzzword that Labour ministers and on-message MPs were shoehorning into every conference speech, fringe event and journalist briefing at last week's party conference.

  • MM survey shows 79% of advisers more wary of structured products

    1 October 2008

    Some 79 per cent of advisers are more wary about recommending structured products due to concern over Lehman-backed investments, according to a moneymarketing.co.uk straw poll.

  • Money Guidance lacks industry wide support

    7 October 2008

    The proposed Money Guidance scheme is causing confusion in the industry with only one fifth of people saying they would sign up for it, according to results of an Association of Independent Financial Advisers’ survey.

  • Multi faceted

    2 October 2008

    Tony Yousefian, chief investment officer and founder of OPM Fund Management, which was started in 2003, manages a variety of multi-asset funds. Tony has had a first-class career, ending up as a director of Smith & Pinching Portfolio Management before founding OPM.

  • New transfer deal for UK pensionholders

    2 October 2008

    New Zealand-based pensions transfer service Offshore Pension Services is looking to launch a new scheme enabling individuals residing outside the UK to transfer their UK-registered pension scheme anywhere in the world.

  • Osborne turns on City bankers

    2 October 2008

    Conservative Shadow Chancellor George Osborne has laid the blame for the current financial crisis at the door of City bankers.

  • Osper takes wealth role at Conforto

    2 October 2008

    IFA firm Conforto Financial Management has appointed Adam Osper as senior wealth adviser and Will Myers as a new graduate trainee.

  • Panthera attack on Revenue over Qrops disclaimer

    2 October 2008

    Offshore pensions provider Panthera has attacked Revenue & Customs for adding a disclaimer to the department's latest approved Qrops list.

  • Papers published on new opportunities in retirement market

    6 October 2008

    Advisers who are keen to work in the retirement income market can now access a series of in-depth papers focusing on the rapid changes taking place and future business potential.

  • Patrick Gale resigns from Just Retirement

    1 October 2008

    Just Retirement’s chief operating officer Patrick Gale has announced his resignation from the firm with immediate effect.

  • Paul Myners in newly-created role of Minister for the City

    3 October 2008

    The Prime Minister is expected to confirm former Gartmore chairman Paul Myners in the newly-created role of Minister for the City.

  • Paul Myners to leave PADA in ministerial move

    6 October 2008

    Paul Myners is to leave his position as chairman of the Personal Accounts Delivery Authority in order to take up his new role as financial services secretary.

  • Pearl wants views on WP rethink

    2 October 2008

    Pearl is writing to 50,000 of its with-profits pension policyholders to gauge their views on possible changes that could increase their current fund value and potentially lead to a higher pension in retirement.

  • Playing by the rules

    2 October 2008

    I was pleased to be reminded of a set of rules that are all to easy to forget when markets prove as tricky as they have been. Originally laid down by Merrill Lynch's Bob Farrell and styled as Ten Market Rules to Remember, they were designed as a guide to wise investing. Recently, the economics team at Merrill revisited these rules with the intention of applying them to current market circumstances.

  • PM to meet King and Turner at Downing Street this afternoon

    7 October 2008

    The Prime Minister and Chancellor are to meet Bank of England governor Mervyn King and FSA chairman Lord Turner this afternoon but have denied it is an emergency meeting.

  • Policy decision

    2 October 2008

    If I was one of the 140,000 employees of HBOS and Lloyds TSB, I would go and buy whatever forms of income and payment protection insurance those banks offer as soon as possible.

  • PPF waits for details on Lehman scheme

    2 October 2008

    The PPF is waiting for more information from Lehman Brothers' pension scheme trustees to assess whether it will fall on the scheme having applied last week.

  • PPF will hold levy at £700m

    2 October 2008

    The Pension Protection fund has announced that its levy will remain stable for 2009/2010.

  • 'Prepare for Generation Y'

    2 October 2008

    Advisers have been warned that they must "Y-proof" their businesses before 2015 to cater to the next generation of consumers.

  • Private progress

    2 October 2008

    Bob Reynolds looks at how offshore financial centres are looking to private trust companies

  • Protection principles

    2 October 2008

    Next year, April 5 will not only mark the end of the tax year and the start of a new cycle of financial planning but will also mark the last date that clients are able to register their pre-A-Day (pre-April 5, 2006) pension funds for enhanced or primary protection. Therefore, with the cut- off point to register for enhanced or primary protection looming, advisers must take action now if their clients are to benefit from these opportunities.

  • Reactivated debate

    2 October 2008

    The debate between active and passive management has a long history but recent turmoil in financial markets has tested the merits of both strategies to their limits.

  • 'Reel in the minnow funds'

    2 October 2008

    Advisers want investment firms to focus on rationalising their fund ranges rather than look for new niche products to offer the market.

  • Reform needs a rethink

    1 October 2008

    You're probably sick to death by now of reading about the flaws and pitfalls of the new personal accounts regime - already three years in the making, and still another four to go until it actually comes into being. But it's a subject that I've rarely touched on in this column over the past couple of years, and I've decided it's time for me to add my tuppence worth into the mix.

  • Release of anger

    2 October 2008

    Which? caused a storm in the equity release world last week when it released a report recommending that equity release products should only be used as a last resort.

  • Resolution appoints head of alternatives

    6 October 2008

    Resolution Asset Management has appointed Tim Sweeting as head of alternatives.

  • Retirement planners told to focus on the later years

    2 October 2008

    More awareness is needed of the importance of managing money in the first 10 years of retirement to be financially sound in the later years, says Life Trust.

  • Richardson joins Resolution

    2 October 2008

    Resolution Asset Management has appointed Neil Richardson as deputy head of UK equities.

  • Rosengren says IFAs can come out top in crisis

    2 October 2008

    Lighthouse says huge opportunities exist for IFAs to service existing and new clients confused by current market conditions.

  • Rosie Winterton replaces Mike O'Brien as pensions minister

    6 October 2008

    Pensions minister Mike O’Brien has been given an energy brief and is to be replaced at the Department for Work and Pensions by former transport minister Rosie Winterton.

  • Royal Liver boosts CI offering

    1 October 2008

    Online protection provider Progress is boosting its critical illness offering by enhancing its product to include 40 illnesses.

  • Safety thirst

    2 October 2008

    At the end of one of the most tumultuous weeks we have experienced in financial markets, the Financial Times' Lex column stated on Friday September 19 that investors today are "more concerned about a return of capital than a return on capital".

  • School daze

    2 October 2008

    I would like to send my children to private school. Have you any suggestions on how I can calculate how much money I will need and give me some ideas as to how I should fund the fees?

  • Schroders UK equity head calls for patience

    1 October 2008

    Schroders head of UK equities Richard Buxton says there are plenty of opportunities in the market for UK investors provided that they stay patient.

  • Scot Prov reduces non-disclosure to 1.9%

    3 October 2008

    Insurance provider Scottish Provident has reduced the number of critical illness claims declined for non-disclosure to just 1.9 per cent during the first half of 2008.

  • Senate gives US $700bn bailout thumbs up - lower house vote tomorrow

    2 October 2008

    The US Senate has finally accepted the Treasury’s $700bn toxic mortgage bailout with a vote due in the lower house, the House of Representatives tomorrow.

  • Sheriar Bradbury

    2 October 2008

    Sheriar Bradbury was never destined to remain an employee of someone else's company. As a child, he moved around the UK with his family as they pursued different business ideas and he grew up with no notion of employment.

  • Short-selling can be as damaging as insider trading

    2 October 2008

    In simple terms, the criminal offence of insider dealing is the buying of shares on the basis of confidential information not yet released to the market at large that is highly likely to result in a significant increase in the value of those shares once it has been released.

  • Show of strength

    2 October 2008

    Calvin Coolidge, the 30th US president, is best remembered for his steadfast refusal to interfere in markets. He presided over real growth in US prosperity although this was ended after his influence had waned, by the great depression.

  • Skandia says advisers are moving to recurring income streams

    2 October 2008

    Skandia research has shown that advisers are moving away from initial commission to recurring income streams.

  • Special agents

    2 October 2008

    Controversy caused by the retail distribution review interim report over who should be entitled or, indeed, required to give advice has stirred old memories.

  • Standard warns advisers on domicile rules

    2 October 2008

    Advisers with expat clients are often unaware of the estate planning strategies required in the international domain under UK domicile legislation, says Standard Life.

  • State of affairs in loan market

    2 October 2008

    I read with interest your comments at a conference fringe meeting, reported in Money Marketing, to the effect that state intervention is needed to prevent excessive lending and the practice of "selling people mortgages that they clearly could not afford".

  • State pension is the weakest link, warns Pickering

    2 October 2008

    Former Government pension adviser Alan Pickering has warned that state provision remains the weak link in the pension system.

  • Structural damage

    2 October 2008

    Much to the annoyance of my family, I have spent the weekend watching the Ryder Cup. Even as I write this article, I am enjoying the thrills and spills of the singles on Sunday night.

  • Structural survey

    2 October 2008

    Incredibly, there are no longer any major investment banks in the US. Thousands of people have lost their jobs and many more are sure to go as the financial services industry learns to live without the money that it used to have.

  • Structured disclosure - commercial sensitivity versus commercial sense

    2 October 2008

    Last week Money Marketing attempted to get a little closer to understanding the cause of the latest structured products debacle rather than finger-pointing and focusing on the symptoms of the problem.

  • TBO Investments Limited fined £28k for documentation failings

    2 October 2008

    The FSA has fined TBO Investments Limited £28,000 for failing to clearly document the explanations it gave to clients concerning the risks of their transactions.

  • 'Tech firms will play major role when RDR comes in'

    2 October 2008

    Technology firms will have a huge part to play when the RDR is introduced, says Assureweb chief executive officer Andrew Simon.

  • Thames River appoints FSA technical specialist

    1 October 2008

    Thames River has announced the appointment of FSA senior manager Graeme Pollok as compliance and risk manager.

  • Thames River is big in Japan

    2 October 2008

    The performance of Japanese equities is set to overtake emerging markets and commodities in 2009, predicts Thames River Capital's Gary Potter.

  • The best defence

    2 October 2008

    Defensive is a word being bandied about by a lot of investment people in these crazy market days but the definition appears about as changeable as what classifies a value or growth stock.

  • The bin issue

    2 October 2008

    Simple is often the best, a phrase that could hardly apply to some of the financial products now displaying terminal problems.

  • The Hartford announces Lehman and AIG exposure

    2 October 2008

    The Hartford Financial Services Group has announced that it has debt and equity exposure of £143m in Lehman Brothers and £8.5m in AIG as at September 16.

  • The Hartford predicts £1.25bn Q3 loss

    6 October 2008

    The Hartford has announced that it expects a net loss for the third quarter of approximately £1.25bn.

  • The question of yes/no questions

    2 October 2008

    Removing yes/no questions from insurance application forms could help reduce non-disclosure, says Financial Ombudsman Service ombudsman Melissa Collett.

  • The rise of the super-banks

    2 October 2008

    Smaller mortgage lenders have been watching the emergence of the super-bank these last few weeks but will they perish under their imposing shadows?

  • Thinc's multi-tie advisers in whole of market move

    2 October 2008

    Axa-owned IFA Thinc Group is moving its 100 multi-tie national advisers to a whole-of-market proposition by the end of this year.

  • Third of firms looking to move offshore

    2 October 2008

    Over one in three UK companies are considering moving offshore due to the burden of corporation tax, according to a BDO Stoy Hayward research.

  • 'Third of IFAs could close'

    2 October 2008

    Up to a third of IFAs firms will disappear as a result of increasing regulation, says Bradbury Hamilton managing director Sheriar Bradbury.

  • Threadneedle appoints global head of product

    7 October 2008

    Threadneedle has appointed Nick Ring as global head of product.

  • 'Tied advice could lead to increase in misselling claims'

    2 October 2008

    Advisers are warning that attempts by the Association of British Insurers to undermine the sales/advice split outlined in the retail distribution review could result in increased levels of misselling.

  • Tories call for end to structured confusion

    1 October 2008

    Conservative shadow minister for the Treasury Mark Hoban has urged the Government to end the confusion on structured products.

  • Treasure island

    2 October 2008

    Using technology as an integral part of the financial advice process is still startlingly limited compared with many other industries. At a time when motor mechanics and gas fitters usually start by firing up their diagnostic software before starting maintenance, it frankly scares me that most advisers think the right tools for their job are a printed report, pad of paper and a pen.

  • Trouble brewing over TCF

    2 October 2008

    Industry experts says it is time to scrap big T and little T and establish a single definition of tele-underwriting to comply with treating customers fairly.

  • UK banks drag on FTSE

    7 October 2008

    The FTSE 100 suffered further declines today as UK banks dragged the index lower to 4,579.

  • UK insurers design system to help Health Insurance Counter Fraud Group

    7 October 2008

    Eleven of the UK’s leading health insurers have united to form a fraud intelligence system to support the Health Insurance Counter Fraud Group’s fight against healthcare fraud.

  • Warning on over-regulation

    2 October 2008

    The Conservatives have argued that London could gain a competitive advantage over the US as a financial centre if the temptation to over-regulate is avoided.

  • Warning that providers could turn backs on IP

    2 October 2008

    Insurance providers will turn their back on income protection if advisers fail to improve their understanding of the product, warns Direct Life and Pensions key account man-ager Phil Jeynes.

  • 'Which? could steer elderly into dangerous schemes'

    2 October 2008

    Which? has come under fire for its negative portrayal of the equity release market which one adviser claims could drive elderly homeowners towards dangerous alternatives.

  • Winners and losers

    1 October 2008

    No-one is expecting the bloodbath on Wall Street to leave them unaffected, but its ramifications will affect different parts of the corporate advisory community in different ways, says John Greenwood

  • Winners and losers

    2 October 2008

    Christmas is still some way away but for Lloyds TSB it came 12 weeks early this year and CEO Eric Daniels must still be pinching himself about the $12bn deal. Whether preliminary discussions began six weeks ago or not, what is not in doubt is that Lloyds emerges from this as a credit crunch winner and regrettably some HBOS staff may emerge as blameless victims.

  • Zurich appoints former AIG chief underwriter

    6 October 2008

    Zurich Financial Services Group has appointed former AIG chief underwriter Philip Wilson as its chief underwriting officer for global life.

  • Zurich in update of tax manual

    2 October 2008

    Zurich has published its latest tax handbook which explains the UK tax landscape and the latest changes following the Finance Act.

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