Money Marketing
10 October 2007

  • £2M profit boost for MI

    11 Oct 2007

    Mortgage Intelligence has reported £2m profit and £12bn in mortgage lending through over 8,000 members in the year to July 31.

  • 3Xd sets up multi-option loan cover

    11 Oct 2007

    3xd, the firm launched by former Paymentshield directors David Fulluck and Mike Riding, has launched a multi-option mortgage payment protection insurance policy underwritten by British Insurance.

  • 50 Staff will lose jobs as Victoria fails to find buyer

    11 Oct 2007

    Victoria Mortgages has confirmed it will be making 50 employees redundant after its administrator KPMG failed to find a buyer for the lender after several weeks of talking to interested parties.

  • 50% will choose personal pension accounts

    12 Oct 2007

    Legal & General research has revealed 50 per cent of British workers will choose to stay in personal pension accounts when they are introduced in 2012.

  • A matter of life and dearth

    11 Oct 2007

    Nucleus Financial Group chief executive David Ferguson argues that the life industry is facing a significant threat through a failure to strengthen its proposition. Yet he says insurers' demise could boost good quality IFAs as value drifts through to the advisory sector

  • A Shaw thing

    11 Oct 2007

    Sam Shaw is a reporter on Money Marketing

  • A strong voice that must be heard

    11 Oct 2007

    I almost wrote in a similar vein last week when I read of Towry law's decision to leave Aifa. The thrust of my letter was that one voice is needed to negotiate on the IFAs' behalf.

  • A Vital plan from Pru

    12 Oct 2007

    PrudentialPruProtect

  • A week to bury bad news

    12 Oct 2007

    Two months on since the credit crunch first hit the UK’s shores and job redundancies in the UK mortgage market are starting to make the headlines.

  • A&L appoints director of intermediary sales

    16 Oct 2007

    Alliance & Leicester is appointing Mark Blackwell as director of intermediary sales.

  • A&L makes a saving

    12 Oct 2007

    Alliance & LeicesterTwo-Year FeeSaver Tracker

  • Abbey drops prices on fixed rate mortgages

    11 Oct 2007

    Abbey has announced further rate cuts to its five and two year fixed rate deals, effective tomorrow.

  • ABI meeting with Treasury to protest against PBR hit to life insurers

    15 Oct 2007

    The Association of British Insurers is to meet with the Treasury on Tuesday to discuss the implications for the life industry arising from Chancellor Darling's introduction of a flat rate of capital gains tax.

  • ABI says insurers well placed for Solvency II

    11 Oct 2007

    The FSA's Individual Capital Adequacy Standards briefing shows UK insurers are well placed to tackle the challenge of Solvency II according to the Association of British Insurers.

  • Adviser Fund Index

    11 Oct 2007

    The Adviser Fund Index panellists displayed a lack of appetite for private equity in the third mid-season questionnaire, conducted in August. Just one panellist rated the asset class as "very important" to his client portfolios. The remaining 15 respondents said private equity is only "slightly important", or "not important".

  • Advisers challenged to grab initiative on RDR

    11 Oct 2007

    Advisers must set down their own agenda on the retail distribution review or they will "deserve the best the FSA gives us", says Aifa.

  • 'Advisers must cull clients to create new business model'

    11 Oct 2007

    Firms that decide to change model will face tough decisions and may have to cull the least valuable 10 per cent of their client base, according to FP Advance managing director Brett Davidson.

  • Advisers welcome NU move to revamp protection range

    11 Oct 2007

    Advisers have welcomed Norwich Union's decision to undergo a complete redesign of its protection range and research a guaranteed protection product.

  • After eight

    11 Oct 2007

    Barclays has introduced an income investment paying 8 per cent a year over a five-year period or up to 55 per cent growth. The income investment is ideal for those with equity Isas nearing retirement who do not wish to take much risk.

  • AIC supports increased disclosure for all large private companies

    16 Oct 2007

    The Association of Investment Companies has supported increased disclosure by large private companies and says private equity-owned companies should not be singled out.

  • Aifa appoints PR and marketing chief

    11 Oct 2007

    Aifa has appointed Tracy Elwick as its new director of public relations and marketing responsible for enhancing the profile and reputation of the trade body across the industry.

  • Aifa launches landmark RDR survey

    11 Oct 2007

    Aifa has launched the biggest ever survey of advisers to inform its retail distribution review response and is hoping all members and non-members will respond.

  • AJ Bell extends Sipp options

    16 Oct 2007

    A J Bell is extending the options on its Sippcentre product and will be giving investors access to any investment manager as part of the changes to be introduced early next year.

  • AJ Bell secures Cofunds deal for SippCentre clients

    11 Oct 2007

    AJ Bell is setting up a deal to offer its SippCentre customers access to the Cofunds platform.

  • An education in non-disclosure

    11 Oct 2007

    CBK principal Peter Chadborn on catching the high proportion of unpaid claims

  • Andrew fisher

    11 Oct 2007

    Honesty and integrity are just two qualities that Towry Law’s chief executive most values and they have no doubt helped him map a successful career path. But his outspokenness doesn’t come without its critics, as can be seen by his company’s departure from Aifa. However, he says these “differences” of opinion should not stop him from achieving his ultimate goal - for Towry Law to be the biggest wealth adviser in the UK in five years. Interview by Will Henley

  • Anger over IoD's call to axe buy-to-let tax break

    11 Oct 2007

    The mortgage industry has reacted angrily to the Institute of Directors' call to scrap the buy-to-let tax break.

  • Art investment advisory service launched

    10 Oct 2007

    An advisory service to help people buy art as an investment has been launched by Artist Pension Trust, a financial planning programme for artists.

  • Axa IoM set for HMRC challenge

    11 Oct 2007

    Axa Isle of Man is to go up against HM Revenue and Customs before the Special Commissioners later this month.

  • Battle lines

    11 Oct 2007

    The speculation about the snap election that never was has at least brought to light the policies of the leading parties.

  • Blow for smaller IFAs as taper relief is scrapped

    11 Oct 2007

    Chancellor Alistair Darling's announcement that he will scrap taper relief and introduce an 18 per cent flat rate of capital gains tax could seriously harm IFAs and other small businesses, warns tax consultant Chiltern.

  • 'BoE looks to have bailed out Rock with over 10bn'

    11 Oct 2007

    The Bank of England looks to have bailed out Northern Rock with over 10bn since its emergency loan applica-tion, says New Star economist Simon Ward.

  • Brave hearts

    11 Oct 2007

    Marketing departments should not be afraid to put across strong messages

  • Broker Talkback

    11 Oct 2007

    Do you think that Tory tax plans, presented at its conference, are a credible alternative government?

  • C&G reprices 100% mortgage products

    11 Oct 2007

    Cheltenham & Gloucester has repriced its 100 per cent mortgage products and removed the free valuation incentive previously applicable to the range. Details of the new range are available via its online product guide.

  • Caledonia dreaming

    11 Oct 2007

    I rarely review investment trusts, not because I do not like them but because they are a niche area for the vast majority of investors and brokers.

  • Capita signs £270m deal with CIS

    15 Oct 2007

    Capita has been assigned to deliver business processing services to Co-operative Insurance, part of Co-operative Financial Services today in a 10 year deal worth over £270m.

  • Carry on - don't lose your head

    11 Oct 2007

    With-profits Don't fear warnings over the complexity of reviewing with-profits investments, says Norwest Consultants principal Harry Katz. IFAs will not be hauled off to the Tower in chains if they can show their advice has benefited clients

  • CBK says submit records to stop non-disclosure

    11 Oct 2007

    Non-disclosure could be eradicated if clients submitted their full medical record to insurers alongside their protection application, according to CBK principal Peter Chadborn.

  • Chief executive for Delivery Authority

    11 Oct 2007

    Tim Jones has been named chief executive of the Personal Accounts Delivery Authority. Jones was chief executive of retail banking at Natwest and will take up the post immediately. He is currently co-director of the Centre for the Study of Financial Innovation.

  • CII demands professional body to drive up standards

    12 Oct 2007

    The Chartered Insurance Institute is demanding a professional body along the lines of the traditional professions to issue practising certificates and help bring about a step-change in industry standards.

  • 'Clients not worried over independence if goals are achieved'

    11 Oct 2007

    Thinc Destini director of wealth management Patrick Murphy has questioned the importance of the independent tag, saying he would not have a problem being tied to a single wrap platform.

  • Climate change could sweep the world

    10 Oct 2007

    With the pre-Budget report announcing further steps to tackle climate change it appears that Schroders, F&C and Jupiter have all timed their respective launches almost to perfection.

  • Climate's in the hot seat

    11 Oct 2007

    Chris Salih on how firms have been quick to jump on the climate change bandwagon and introduce funds. Are they a passing phase or will they stand the test of time?

  • CML collates sub-prime data

    11 Oct 2007

    The mortgage industry is moving closer to fully understanding the profile of the UK sub-prime sector, with the Council of Mortgage Lenders set to produce in-depth analysis by the year end.

  • Competition between CII and IFP is healthy sign

    11 Oct 2007

    I am not sure that Phil McGovern is being entirely fair (MM, October 4) to Julie Lord in respect of her recent article about certified and chartered financial planner status.

  • Complacency will get you nowhere

    12 Oct 2007

    As the days get shorter and the weeks begin to fly by even faster, the pressure on the advice community is beginning to grow as firms prepare their responses to the retail distribution review.

  • Compliance chief says TCF principles are nothing new

    11 Oct 2007

    Treating customers fairly brings nothing new to advice as many firms have been putting its principles into practice for years, Clarkson Hill head of compliance and small firms John Lacey told advisers last week.

  • Consultants to lobby for increased tax relief for EIS funds

    12 Oct 2007

    Smith and Williamson will lobby the government for an initial income tax relief increase for EIS funds to offset the loss of capital gains tax taper relief.

  • Consumer Council leader says generic advice is not a cure-all

    11 Oct 2007

    The National Consumer Council says generic advice is in danger of being seen as a cure-all and that it must not become a service for people who would otherwise pay for advice.

  • Course for complaint

    11 Oct 2007

    It is indicative of our society that people will cash in whenever they can

  • Credit Suisse launches HS Market Neutral Index

    15 Oct 2007

    Credit Suisse has announced the launch of its global HS Market Neutral Index, the latest in the HOLTSelect series.

  • Darling urged to address “chaos” created by PBR tax changes

    15 Oct 2007

    Chancellor Alistair Darling has faced a torrent of criticism since last Tuesday’s pre-Budget report with warnings his capital gains tax changes will severely damage small business and the life assurance industry.

  • Days of thatcher

    11 Oct 2007

    Tony Bridgland recalls the pre-Thatcher days when lenders didn't lend more than their funds permitted and when only the best-quality business was sought

  • Directors must check policies for sub-limits

    11 Oct 2007

    It has come to our attention that a number of insurers have introduced a regulatory investigation sub-limit onto their directors' and officers' policies.

  • Economic forecast is downgraded

    12 Oct 2007

    The economic growth forecast for 2008 has been downgraded from 2.5-3 per cent to 2-2.5 per cent. Darling blamed "increased economic uncertainty" and "turbulence in America, Asia and Europe".

  • Edeus tightens LTV on adverse range to 80 per cent

    12 Oct 2007

    Edeus has tightened its lending criteria by cutting loan to values to 80 per cent on its adverse range.

  • ETF Securities - ETFS Forward Petroleum DJ-AIGCI-F3SM

    12 Oct 2007

    ETF SecuritiesETFS Forward Petroleum DJ-AIGCI-F3SM

  • ETF Securities - ETFS Forward Precious Metals DJ-AIGCI-F3SM

    12 Oct 2007

    ETF SecuritiesETFS Forward Precious Metals DJ-AIGCI-F3SM

  • ETF Securities -ETFS Forward Livestock DJ-AIGCI-F3SM

    12 Oct 2007

    ETF SecuritiesETFS Forward Livestock DJ-AIGCI-F3SM

  • European investment outlook remains positive

    15 Oct 2007

    Can European markets continue to outperform the US, UK and Japan after four years of strong returns, asks Fidelity.

  • Fears over maximum protection age

    12 Oct 2007

    Most providers have not increased the maximum age of their income protection policies from 65 years despite the Government extending the state pension age to 68.

  • Financial Objects wins Sand Aire contract

    15 Oct 2007

    Software supplier Financial Objects has been assigned to implement its wealthmanagement software with Sand Aire, the UK-based multi-client family office.

  • First national Sesame conference to focus on the RDR

    11 Oct 2007

    Sesame is to hold its first national conference in December focusing on the impact of the retail distribution review, the rise of wrap and other regulatory matters.

  • First-time home buyers "disappearing"

    12 Oct 2007

    First-time home buyers are disappearing at an alarming rate, according to the latest edition of moneysupermarket.com's Mortgage Map.

  • Flight to quality

    11 Oct 2007

    Given my concluding thoughts last week, it was something of a coincidence that I was required to look into the relative performance of smaller companies funds compared with those targeting the market leaders. This is no mean task.

  • Foundering on the rock?

    11 Oct 2007

    David Turner, a partner with Foot Anstey Solicitors, on whether, in the face of the Northern Rock fiasco, IFAs need to worry about investors making claims over lost funds

  • Franklin Templeton - Franklin Natural Resources Fund

    12 Oct 2007

    Franklin TempletonFranklin Natural Resources Fund

  • Franklin Templeton - Franklin Strategic Income Fund

    12 Oct 2007

    Franklin TempletonFranklin Strategic Income Fund

  • Franklin Templeton - Templeton Global Absolute Return USD Fund

    12 Oct 2007

    Franklin TempletonTempleton Global Absolute Return USD Fund

  • Free FSA surgeries in Newcastle, Sunderland and Durham

    12 Oct 2007

    Financial advisers, mortgage intermediaries and general insurance brokers in Newcastle, Sunderland and Durham can participate in free FSA surgeries from October 16 to 18.

  • Friends Provident to use tele-interviewing for income protection applications

    10 Oct 2007

    Friends Provident has announced it will now offer tele-interviewing for income protection applications in a bid to speed up processing and reduce non-disclosure.

  • FSA assurances on platforms

    11 Oct 2007

    Platforms are potentially a good thing for financial planning businesses but there are some risks that need to be monitored, the FSA has told the IFP.

  • FSA bans adviser for misleading clients

    11 Oct 2007

    Richard Wolf of Rotheville Limited has had his FSA approval withdrawn after he was found to have misled his clients.

  • FSA denies it wants to drive out small firms

    11 Oct 2007

    History shows that the worst failures have been with bigger firms, says head of the RDR

  • FSA examines Royal London levy for Omo

    11 Oct 2007

    The FSA says it is looking into reports that Royal London charges customers thousands of pounds for exercising their open-market option.

  • 'FSA must shoulder some blame for needing RDR'

    11 Oct 2007

    The retail distribution review totally misses the point, Clarkson Hill chief executive Ron Pritchard told his firm's national adviser conference last week, pointing out that 10 companies account for half of consumer complaints.

  • FSA reinforces message to industry on RDR

    11 Oct 2007

    The FSA reinforced its message at the IFP conference in Manchester last week that the proposals in the retail distribution review are industryled initiatives.

  • Funds on Ascentric platform reach £175m

    11 Oct 2007

    Ascentric has announced a £75 million increase in funds on its Wrap in under three months. Total funds on the platform, which launched in January this year, now stand at £175m.

  • GMAC axes jobs and shuts sub-prime arm

    11 Oct 2007

    GMAC-RFC has closed its sub-prime subsidiary High Street Home Loans and cut 266 jobs, around a quarter of the lender's workforce.

  • Godiva rides on rate

    12 Oct 2007

    Godiva MortgagesCredit Impaired Near Prime Full Status +0.60% Flexx BBR Tracker

  • Gold standard

    11 Oct 2007

    Commodities Will Henley gauges analysts' views on the investment prospects for gold as it reaches a 27-year high

  • Good day at the office

    11 Oct 2007

    Prospects continue to look encouraging for the commercial property sector

  • 'Govt set to agree compensation for pension victims'

    11 Oct 2007

    Pension campaigner Ros Altmann believes compensation for the victims of collapsed schemes could have moved a step closer after she met with Department for Work and Pensions Secretary Peter Hain.

  • Hargreaves Lansdown adds Schroder fund to Wealth 150

    16 Oct 2007

    Hargreaves Lansdown has selected the Schroder Japan alpha plus fund to join its Wealth 150 range after the vehicle was re-opened to investors back in July this year.

  • Hargreaves to review all bond sales in light of PBR

    12 Oct 2007

    Hargreaves Lansdown says it is examining all its advised investment bond sales over the past two months to check their suitability in light of the pre-Budget report changes to capital gains tax.

  • HBOS shift away from volume could cost £5bn

    11 Oct 2007

    HBOS is expected to lose over £5bn-worth of retention business as it moves to scrap its annual lending target to focus on margin growth over volume.

  • Healthy future is predicted for PruProtect

    11 Oct 2007

    Advisers are saying that PruProtect, the new product from Prudential and Discovery's joint venture PruProtection, will make a bigger splash than Pru's previous flexible protection plan primarily because it is more competitive.

  • 'Highlight fee-only advisers'

    11 Oct 2007

    Sixteen fee-only IFA firms are lobbying the FSA for the creation of an independent, fee-only adviser category.

  • How do we kick non-disclosure to the kerb?

    16 Oct 2007

    Non-disclosure remains a hot topic in the protection industry, and I suppose it will do until someone stubs it out.

  • IMA says CGT reforms are good news for smaller savers

    15 Oct 2007

    The IMA has welcomed the Chancellor’s proposed controversial reforms to capital gains tax saying they will be good news for small savers.

  • IMLA says house price slowdown does not mean housing crash

    11 Oct 2007

    IMLA says recent slow down in house prices should not be interpreted as an early indication of a housing market crash.

  • Improvements at the Pru

    12 Oct 2007

    Prudential has relaunched its menu-based protection plan to include the Vitality, a points system which rewards people for being healthy through discounted premiums.

  • IN Partnership keeps servicing expats after opting into Mifid

    11 Oct 2007

    IN Partnership has opted into Mifid and gained an exemption that will enable it to continue servicing expat clients.

  • Investigative reporting

    11 Oct 2007

    Beware of the pitfalls in HMRC's proposed new reporting levels for chargeable lifetime transfers

  • Investment matters

    11 Oct 2007

    There are around 30 funds in the UK retail fund universe that use 'alpha' in their name while some reports encompassing offshore funds suggest there have been some 170 such portfolios launched in the last three years.

  • Investment promotion rulebook halved by FSA

    16 Oct 2007

    The FSA has halved its rulebook on the promotion of investment products in a bid to give firms more flexibility and consumers more tailored information, according to the regulator.

  • Jupiter appoints Riggall as international sales manager

    11 Oct 2007

    Jupiter has appointed Mark Riggall international sales manager a role that encompasses the management of its global life company relationships.

  • Kirwan stays at ABI

    12 Oct 2007

    Nick Kirwan is to remain as head of health and protection insurance at the Association of British Insurers on a permanent basis.

  • Knight vows he will rip up mortgage rulebook

    12 Oct 2007

    Mortgage guru Stephen Knight has vowed that his new lending ventures will rip open the rulebook on product design and funding lines in a response to the current problems in the market.

  • Korhonen sees more volatility but says his strategy is working

    11 Oct 2007

    Fidelity global special situations manager Jorma Korhonen says the performance of his fund over the past 12 months shows his investment approach is working.

  • Lancaster quits Norwich Union for Gulf Finance House

    15 Oct 2007

    Norwich Union UK income opportunities manager Ian Lancaster has quit the firm to join Bahrain-based group Gulf Finance House Asset Management.

  • Large cap fits

    11 Oct 2007

    Stock prices climbed higher last week as credit conditions appeared to be in the process of stabilising. The Dow Jones Industrial Average rose 0.5 per cent to end the week at 13,896, the S&P 500 index advanced 0.1per cent to 1,526 and the Nasdaq Composite gained 1.1per cent to 2,702.

  • Lasting effects

    11 Oct 2007

    October 1 saw enduring powers of attorney replaced with a new scheme

  • Lawyer's warning to advisers over Newcob changes

    11 Oct 2007

    Advisers need to ensure that they are fully compliant with the changes to Newcob introduced to coincide with Mifid so as not to open themselves up to legal liabilities, says leading financial services lawyer Simon Morris.

  • Lazard pursudes global equity income

    12 Oct 2007

    Lazard has designed a global equity income fund that invests mainly in high-yielding stocks that are already held in other Lazard funds for growth.

  • Less than half of CII members believe the RDR will improve industry

    11 Oct 2007

    Only 42 per cent of Chartered Insurance Institute members believe the Retail Distribution Review will lead to a more professional financial services industry.

  • LifeQuote software boosts protection case sizes at LV=

    11 Oct 2007

    LV= says protection business at its advisory arm has increased by 50 per cent since it began using LifeQuote's Intelligent Protection software last June.

  • Lines of attack

    11 Oct 2007

    Prime minister Gordon Brown has ruled out going to the polls this year. However, the election fever that gripped the nation over the past few weeks has revealed the dividing lines between the major parties on financial services issues. We look at how their policies on protection, mortgages, housing, tax and pensions are shaping up

  • Line-up of speakers announced for PFS conference

    16 Oct 2007

    The Personal Finance Society has announced the line-up of speakers who will address its ‘Face the Future, Meet the Challenge’ conference in Birmingham on November 13-14.

  • Little movement in lending for August

    11 Oct 2007

    The Council of Mortgage Lenders says total gross lending was broadly flat month on month in August at £34bn compared with £34.1bn in July. However, lending for house purchase is down by 11 per cent compared with last August.

  • Medical report

    11 Oct 2007

    Doctors and their practice managers have long been the bane of many administrators' lives within IFAs and life companies. As anyone who has ever chased a medical report will know, the attitude of all but a handful of the medical profession towards our industry is probably best described as contemptuous.

  • Meeting the minister and OMO developments

    11 Oct 2007

    I had the pleasure of meeting pensions minister Mike O’Brien yesterday who seems to have taken on his new brief with a great deal of enthusiasm.

  • Meteor swings towards returns

    12 Oct 2007

    Meteor Asset ManagementPendulum Commodities Plan

  • Mortgages Plc hikes rates by as much as 1 per cent and tightens criteria

    10 Oct 2007

    Mortgages Plc has announced even further criteria and rate changes to its sub-prime range.

  • Most employee shareholders will be unaffected by PBR changes, says Mercer

    12 Oct 2007

    Most employees acquiring shares in their companies through save as you earn option plans will not be affected by the Government’s capital gains tax changes, says Mercer.

  • Name change for SLI growth and income

    11 Oct 2007

    Standard Life Investments is to rename its growth and income fund as the UK equity high alpha from October 15. Edward Legget will continue to run the fund.

  • Nearly half of employees want PMI as a staff benefit

    12 Oct 2007

    A recent YouGov survey found 43 per cent of employees would most like their employer to provide private healthcare as a staff benefit.

  • 'No logic in Govt policy on annuities'

    11 Oct 2007

    The Government's dogmatic position on forced annuitisation flies in the face of its current pension reforms, says Conservative Shadow Treasury financial secretary Mark Hoban.

  • Northern Rock board were ready to quit two weeks before the run

    16 Oct 2007

    All members of the Northern Rock board were willing to offer their resignation as early as August 30, it was revealed to the Treasury select committee.

  • Northern Rock may have borrowed almost £13bn from Bank of England

    11 Oct 2007

    Northern Rock may have borrowed almost £13bn from the Bank of England, says New Star economist Simon Ward.

  • Offshore funds consultation paper to close income gains "loophole", says Deloitte

    15 Oct 2007

    The upcoming consultation paper on offshore funds, announced in the pre-budget report, aims to simplify the tax regime, provide certainty to UK investors and increase anti-avoidance, according to Deloitte.

  • Onward IFA soldiers as all sing from same hymn sheet

    11 Oct 2007

    This autumn, it comes as no surprise that the overriding theme at adviser groups' annual conferences is the RDR. With my finger in the air to gauge which way the wind is blowing, I sense widespread optimism over its outcome.

  • Out of Context

    11 Oct 2007

    "I am a great believer in selective assassination, preferably with a gun."

  • Par for the course for JM Glendinning

    11 Oct 2007

    IFA firm JM Glendinning of Ilkley, West Yorkshire, has won Threesixty's annual golf tournament for the second year running.Last month, the golf challenge took place on the Brabazon course at the Belfry hot on the heels of the Quinn Direct British Masters.After seven qualifiers, the winning team faced last year's reigning champions Nick Henshaw of sponsors Zurich and Richard Carr, Paul Glendinning and Andrew Holmes of JM Glendinning Insurance Brokers.

  • Party politics

    11 Oct 2007

    With the prospect of a possible election looming, all parties have turned their attention to the Government's poor record of pension compensation. Will Henley looks at what this could mean for the Government

  • PBR: "Tax changes are a further attack on pensions funds" says AJ Bell

    10 Oct 2007

    Sipp provider AJ Bell says the Chancellor's tax on scheme pensions is an outrage and says it is inconsistent with Labour's new policy of reducing the inheritance tax burden.

  • PBR: Darling spun IHT raise, says Way Group

    10 Oct 2007

    Chancellor Darlings move to raise the inheritance tax threshold for couples to 600,000 in his pre-Budget report masks the real circumstances for many people facing IHT, says the Way Group.

  • PBR: Equity release planners welcome IHT changes

    10 Oct 2007

    Equity release planners have welcomed the Chancellor’s proposed changes to the inheritance tax threshold. Mortgage Portfolio Services mortgage and equity release planner Simon Chalk says: "At present, many couple have to establish the ownership of their principal residence on a tenants-in-common basis in conjunction with a Will Trust in order to avoid losing one nil rate band on first death, thus their beneficiaries paying an unnecessary £120,000 tax bill."

  • PBR: Fears CGT changes could prompt buy-to-let sell off

    10 Oct 2007

    The Chancellor Alistair Darling has been warned that changes to taper relief could provoke a buy-to let sell off before April next year and potentially undermine house prices.

  • PBR: Fidelity says CGT changes are a "shot in the arm" for long-term savings

    10 Oct 2007

    Fidelity says the Chancellor's decision to set capital gains tax at a flat rate of 18 per cent means investors in equity funds are big winners and says this move could boost long-term savings.

  • PBR: Irish non-doms to benefit

    12 Oct 2007

    New measures in the pre-budget report will end discrimination that has prevented Irish people resident in the UK enjoying the same tax relief as other foreign nationals, says Chiltern.

  • PBR: Tories claim Darling may have created new £2bn raid on pensions

    10 Oct 2007

    The Conservatives are claiming the Chancellor’s move to bring forward the flat rating of the S2P to 2009 could amount to a new £2bn raid on pensions.

  • PBR: Tory candidate brands PBR IHT move an insult to IFAs

    10 Oct 2007

    Conservative candidate and IFA Deborah Dunleavy has branded Alistair Darling’s IHT changes “an insult to our industry”.

  • Pensions minister brands Grayling Cameron's "attack dog"

    11 Oct 2007

    Pensions minister Mike O'Brien has hit back at Tory Shadow Work and Pensions Secretary Chris Grayling calling him Cameron's "attack dog" after Grayling accused the Labour Party of pensions robbery.

  • Personal effects

    11 Oct 2007

    It probably won't surprise regular readers to discover that I am not a natural friend of the Conservative Party.

  • Platform recruits head of credit risk

    11 Oct 2007

    Platform has appointed Piero Bassu as head of credit risk within the company's risk and compliance department. Bassu was in the group's credit scoring team.

  • Positive action

    11 Oct 2007

    Industry feedback to the retail distribution review has been negative, yet one thing that has become abundantly clear to me as I have gone round the country talking to IFAs over recent weeks is that very few seem to have actually read the document.

  • Positive thoughts

    11 Oct 2007

    A look at the opportunities that await those with foresight and planning

  • Potter and Burdett set sail on Thames River

    12 Oct 2007

    Thames River Capital has brought out a multi-manager Oeic range for former Credit Suisse multi-managers Gary Potter and Robert Burdett.

  • Pre-Budget tax changes to hit onshore and offshore bond market

    11 Oct 2007

    The Chancellor’s pre-Budget changes to capital gains tax will damage the insurance bond market, tax experts warn.

  • Pritchard wants better FSA guidance on exams

    11 Oct 2007

    Qualifications are not the holy grail that will prevent misselling, says Clarkson Hill chief executive Ron Pritchard.

  • Product matters

    11 Oct 2007

    The Open Annuity is back. London and Colonial's new annuity offering is designed for pension funds in excess of £100,000 and for investors who want to retain control over their investments after retirement. It allows investors to exercise control over their income withdrawals, with limits set at between 50 per cent and 120 per cent of conventional annuity rates.

  • Putting pensions to work

    11 Oct 2007

    A small employee seeks advice on setting up a company pension scheme

  • Reforms aid take-up of long-term fixes

    12 Oct 2007

    The Chancellor is again trying to encouraging mortgage lenders to increase the take-up of long-term fixed-rate mortgages. Darling says he will bring forward proposals at the Budget on reforms to help lenders ensure that, if it is right for them, more people can fix their mortgages as a matter of routine.

  • Rent asunder

    11 Oct 2007

    Growing repossession figures may be the first sign of cracks in the wall of buy-to-let lending that has grown up in the last few years and now rising interest rates and falling rental yields look set to further undermine the market's foundations, says Samantha Downes

  • Residential property sector to come under scrutiny

    12 Oct 2007

    Consumers, industry bodies, government and other stakeholders will be able to contribute to an independent review to reform the residential property sector.

  • Resolution rejects Pearl bid as Royal London expresses interest

    10 Oct 2007

    Resolution has rejected a takeover bit from Pearl of 660p per share suggesting it significantly undervalues the provider and its prospects as part of Friends Financial Group.

  • Revenue closes pension loophole

    12 Oct 2007

    The Revenue has closed a loophole which allowed pension funds to be passed on tax-free at death when held in small self-administered schemes run as family schemes. Any funds passed on will now face unauthorised payment and IHT charges, bringing the total poten-tial tax charge to 82 per cent, in line with the treatment of alterna- tively secured pensions

  • Row over FSA 'briefing media against the BoE'

    11 Oct 2007

    MPs have demanded answers from the FSA over suggestions that the regulator briefed the media against the Bank of England over the Northern Rock fiasco.

  • Rowley to run M&G property

    11 Oct 2007

    M&G has passed on the management of its £1.3bn property portfolio to Fiona Rowley, with current manager John Cartwright becoming deputy.

  • Royal Liver to add virtual underwriter Q&A tool to website

    10 Oct 2007

    Progress by Royal Liver is adding a virtual underwriter tool to its website which aims to efficiently answer any protection queries advisers might have.

  • Royal London funds added to FundsNetwork

    12 Oct 2007

    Fidelity FundsNetwork has added 15 Royal London Asset Management retail funds to its platform, bringing its total to 1,100 from 59 providers. The RLAM funds are now available through FundsNetwork's range of tax wrappers, including the Isa, Sipp and offshore bond.

  • Safran steps down at Trigold

    11 Oct 2007

    Trigold chief executive Bill Safran is standing down at the end of October to pursue other interests.

  • Savers put holidays before retirement

    12 Oct 2007

    More people are saving for their next holiday than for retirement, according to a report from Defaqto.

  • Schroders plans second climate fund

    11 Oct 2007

    Schroders is looking at launching a second climate change fund in early 2008.

  • Scottish Life launches income release plan

    12 Oct 2007

    Scottish Life has launched an income release plan that allows clients the freedom to access their pension fund before retirement.

  • Sense of duty

    11 Oct 2007

    There is nothing like the threat of a general election to galvanise the opposition party and the Tory Party conference in Blackpool did not disappoint. Faced with the threat of a sudden November election, the Tories made impressive efforts to finally distance themselves from Labour with some tax breaks aimed at Middle England.

  • Shah plans to use Ucits III powers on special sits

    11 Oct 2007

    Fidelity UK special situations manager-elect Sanjeev Shah will continue using the wider powers of Ucits III on the fund once Anthony Bolton steps down from fund management in 2008.

  • 'Shake up market'

    12 Oct 2007

    Brentchase Financial Services mortgage specialist Mike Fitzgerald says: "Anything that Stephen does has to be taken very seriously. When he said he would be the first in the market with instant offers, he was. He has always been a step ahead of most people in the market. Whatever he does will shake the market up and those in the market will have to respond quickly to make sure they are not left even further behind."

  • Skandia launches multi-manager business

    11 Oct 2007

    Skandia is launching Skandia Investment Group which it claims will be one of the world's largest multi-manager investment businesses.

  • SPA ETFs - MarketGrader 100

    12 Oct 2007

    SPA ETFsMarketGrader 100

  • SPA ETFs - MarketGrader 200

    12 Oct 2007

    SPA ETFsMarketGrader 200

  • SPA ETFs - MarketGrader 40

    12 Oct 2007

    SPA ETFsMarketGrader 40

  • Stamp of approval

    11 Oct 2007

    The mortgage industry has welcomed Tory plans for stamp duty to aid FTBs but believes that more sweeping changes are needed

  • Standard Life adds SEI range to wrap platform

    15 Oct 2007

    Standard Life has announced that SEI’s range of manager of managers solutions will soon be available through the Standard Life wrap platform.

  • Standard Life set to join Resolution bidding war

    15 Oct 2007

    A bidding war for Resolution is set to take off this week with Standard Life and Swiss Re planning a joint rival bid for the provider.

  • Standard Life shake-up sees White move to Martin Currie

    11 Oct 2007

    The big shake-up in Standard Life's communications team continues as head of media relations Scott White heads to Martin Currie next month.

  • Swiss Re confirms Resolution interest

    15 Oct 2007

    A potential bidding war for fund management firm Resolution has become all the more likely today after Swiss Re confirmed it is in discussions with Standard Life over acquiring certain closed-books of life business from the firm.

  • T.Bailey unveils best ideas fund

    12 Oct 2007

    Multi-manager T.Bailey has unveiled its UK best ideas fund of funds, comprising 10 equally weighted UK investment funds.

  • 'Take responsibility for retirement saving'

    11 Oct 2007

    Individuals need to take responsibility for their retirement savings rather than relying on the Government for financial support, according to Australian financial planning firm Ellwood Barry McPherson.

  • Talks on tax charges over non-domiciles

    12 Oct 2007

    Chancellor Alistair Darling says he will consult on levying tax charges on non-domiciled UK resi-dents who have lived in the UK for seven years, increasing the charge at the 10-year mark. Darling criticised Tory calls for a flat-rate annual charge of GBP25,000. But Grant Thornton says anyone resident before 2001 will be hit by the fee from April 2008.

  • Technology for today

    11 Oct 2007

    The Money Marketing Live conference and exhibition at Manchester's G-Mex on October 30 will house a technology arena, giving advisers an insight into the latest developments to meet today's investor demands. You can also win a Mazda MX-5 roadster sponsored by Edeus

  • Thames River reopens hedge+

    11 Oct 2007

    Boutique multi-manager Thames River Capital has reopened its £159.4m hedge + fund of hedge funds in response to investor demand that has been fuelled by strong performance.

  • The factory factor

    11 Oct 2007

    Andy Curran, director of intermediated distribution at Prudential believes that a move to factorygate pricing can bring a major boost for adviser businesses

  • The generation game

    11 Oct 2007

    Paul Wright, investment management director for Zurich, considers the changing face of inheritance tax and says advisers should view estate planning as one of their priority areas for clients

  • The Money Portal moves to make churn not an option

    10 Oct 2007

    Has The Money Portal answered one of the FSA’s RDR questions - the vexed issue of how to cut out churn? Messrs Craven, Easter and Pearson certainly believe that they have.

  • The name game

    11 Oct 2007

    Although now described as yesterday's mistake, the announcement by Tomorrow that it will not allow a move to self-invested personal pensions could force a renaming in order to reflect its stance on this option, which was used to enable the sale of the original product. So how about Tomorrow Never Comes?

  • The panic button

    11 Oct 2007

    Our panel of experts consider Northern Rock's crisis, a slowdown in UK property markets and gloom in the US

  • The perfect 10

    11 Oct 2007

    Neal Underwood talks to T Bailey fund manager Jason Britton about his new UK best ideas vehicle and how he chose his underlying funds

  • There's many a Sipp...

    11 Oct 2007

    Mistakes come in many forms but few come in the form of 20,000 letters to clients and advisers.

  • Thinc aims to expand multi-manager links

    11 Oct 2007

    Thinc Destini is looking to expand its multi-manager links as it continues to move its advisers towards this model.

  • Threat to pension providers over Omo delays

    11 Oct 2007

    The FSA is to review the speed at which pension providers transfer open-market annuity option funds, with action threatened against the slowest for not treating customers fairly.

  • Threesixty says advisers need to review trust arrangements

    11 Oct 2007

    The majority of advisers will need to conduct a major review of their clients' will trust arrangements following the inheritance tax changes in the Pre-Budget Report says Threesixty.

  • 'Timescale is brave'

    12 Oct 2007

    John Charcol senior technical manager Ray Boulger says: "It is interesting to see Stephen give a timescale for the venture. It will clearly take a lot of time, a year was roughly how long it took Edeus to start up. It is also interesting that he is prepared to say Q4 next year. It is quite brave to give a date this far ahead. Stephen's got a very strong record. I would have considerable confidence that any new venture he's involved in will succeed."

  • TMP buyout system to cut out churners

    11 Oct 2007

    The Money Portal has launched a practice buyout system that values businesses by as much as six times annual earnings but penalises advisers for any perceived churning.

  • Tomorrow slammed after Sipp climbdown

    11 Oct 2007

    Tomorrow has been slammed by both Sipp providers and advisers for its backtracking over the removal of the Sipp option on its closed book of deferred Sipps.

  • Tony Lanning joins Gartmore multimanager team

    12 Oct 2007

    Gartmore has announced the appointment of Tony Lanning and Katie Trowsdale to its multi manager team, both to start in early November.

  • Tories predict major election battle on pensions

    11 Oct 2007

    The Conservatives have signalled that pensions will be a big battleground in the next general election, declaring the issue Gordon Brown's "worst legacy".

  • Trio agree to allow cross-platform views

    11 Oct 2007

    Cofunds, FundsNetwork and Seven Investment Management have agreed to let advisers view client portfolios held between the three platforms.

  • Trouble in paradox

    11 Oct 2007

    The RDR strives to reach distribution nirvana but gets lost on the way

  • Unregulated funds category for Jersey

    11 Oct 2007

    Jersey is introducing an unregulated funds category in a bid to encourage hedge fund managers to domicile their funds on the island.

  • Unum boosts group life proposition

    15 Oct 2007

    Unum has introduced new features to its group life proposition as part of an ongoing review.

  • US banks to form $75bn fund to invest in US sub-prime mortgage debt

    15 Oct 2007

    Reports have emerged that some of America's largest banks are set to announce plans later to form a $75bn (£37bn) joint fund to invest in US sub-prime mortgage debt.

  • US earning growth levels in low single digits

    16 Oct 2007

    US earning growth levels will be in the low single digits in the third quarter, according to predictions from BlackRock.

  • Vertex named biggest mid market private company

    15 Oct 2007

    Vertex has been named as the biggest mid-market private company in Britain, according the to the Sunday Times HSBC Top Track 250 league table.

  • Virgin puts forward offer to take control of Northern Rock

    12 Oct 2007

    Virgin Group has moved its plans further forward to take control of Northern Rock.

  • Voluntary code for price comparison sites needed, says Resolution Foundation

    11 Oct 2007

    The Resolution Foundation has called for a voluntary code of practice for price comparison websites after conducting research showing many sites fail to explain the commercial relationships they may have with providers.

  • Wave to cut around 20 jobs due to credit crunch

    10 Oct 2007

    Merrill Lynch subsidiary Wave has confirmed it will be cutting around 20 jobs due to the credit crunch.A spokesman for Mortgages Plc, Merrill Lynch's other subsidiary, says he is not aware of any potential job cuts at the lender.He says it cannot know for sure exactly how many jobs will be cut but it is currently going through a consultation process.He says the fallout from the US sub-prime crisis has meant Wave has had to gear back business volumes.

  • WdB assetmasters go on IFA market

    11 Oct 2007

    Williams de Broe is making its assetmaster fund of funds range available to the wider IFA market because it has attained a three-year track record.

  • We should all set aside time for pro bono advice

    11 Oct 2007

    Mr Slipaczek's letter is absolutely outrageous. As it happens, I am very keen to help people and provide free generic advice and have done so for the past 15 years.

  • Witan takes global view

    11 Oct 2007

    The board of the Witan investment trust is moving its assets towards a more global view because it thinks the UK market is efficient and wellpriced, with returns easier to find elsewhere.

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