Money Marketing
11 February 2010
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£630M aim for Bolton China fund
11 February 2010
Fidelity plans an initial capital-raising of £630m for Anthony Bolton’s China special situations investment trust.
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10 minutes with Bill Mott
11 February 2010
James Smith talks to PSigma income guru Bill Mott.
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Adviser jailed in £20k fraud on mortgages
11 February 2010
A Derby mortgage adviser who tricked customers out of more than £20,000 has been jailed for 14 months.
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Advisers on Platforum give Nucleus the top vote
10 Feb 2010
Nucleus has been voted best platform by advisers using Platforum.
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Anger at Axa contacting bond clients direct
11 Feb 2010
Advisers have hit out at Axa over an initiative to call investment bond customers directly, claiming it is trying to bypass IFAs.
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Ascentric admin charge move
11 Feb 2010
Ascentric is planning to introduce an admin charge from April for funds on its platform with low assets under administration.
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Axe fears over tax relief for non-earners
11 Feb 2010
Hargreaves Lansdown predicts the Government will axe rules allowing non-taxpayers to get tax relief on pension contributions in the next Budget.
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Back and beyond
15 Feb 2010
As absolute return funds hit a sweet spot, Chris Salih wonders if the funds are back for good this time
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Ban and £14k fine for fund manager
11 February 2010
The FSA has banned Bluebay Asset Management senior fund manager Simon Treacher and fined him £40,000 for deceiving investors by mis-marketing funds he managed.
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Banks' sales culture slated
12 Feb 2010
Witnesses at the first Which? Future of Banking Commission session this week attacked the sales culture in bank branches.
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Barclays chief warns on bank cap levels
11 February 2010
Barclays chief executive John Varley has told MPs on the Treasury select committee that forcing banks to hold excessive capital may prevent them from being able to function profitably when the Government withdraws support.
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Better treatment for advisers on FSA fees
12 Feb 2010
“It may be entirely appropriate to increase the FSA’s budget this year so long as the right people are being asked to pay the right share of the costs.”
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Burrows in retirement options' deal with IT firm
11 Feb 2010
IT provider DST Global Solutions is offering a compar-ison tool for retirement opt ions, which it developed with William Burrows Annuities director Billy Burrows.
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Changing room
11 Feb 2010
Rob Reid says Aviva should be ashamed of its decision to allow up to 10 per cent commission on transfers to their wrap.
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Corporate connections
12 Feb 2010
Tracey Scott assesses the growing interest in corporate wraps
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Dividends down 15% in 2009 but 5% rise forecast for this year
11 February 2010
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Do bundles cross the line?
12 Feb 2010
Nicole Blackmore assesses the problems that could face providers and advisers after an European Commission probe claimed that some bundled products are unfair to consumers
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Elevator pitch
16 Feb 2010
PanaceaIFA’s Derek Bradley says long-stop lobbyists should step their campaign up a gear.
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Evasion invasion
15 Feb 2010
The Revenue clampdown on offshore tax evaders is gathering pace and there are warnings that advisers who have helped clients hide money overseas will be targeted. Annie Shaw reports
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Ex-Thinc chief sets up IFA network with flat fee deal
11 February 2010
A former Thinc adviser has laun-ched a national IFA network with a flat annual fee and is hoping to take on 60 firms this year.
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Friends is slammed over benefits' backlog
11 Feb 2010
Friends Provident has been attacked for delays in paying retirement benefits and for failing to communicate with IFAs.
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FSA ban over mixing premiums with company cash
11 February 2010
The FSA has banned Bridgewater House UK director Matthew Sixsmith from holding senior positions in the financial services industry after failing to separate clients’ premiums from the firm’s capital, which cost clients almost £85,000.
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FSA bans mortgage broker for failing to prevent fraud
15 Feb 2010
The Financial Services Authority has banned a London-based mortgage broker for failing to prevent his business being targeted by mortgage fraudsters.
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Getting the message across
16 Feb 2010
Phil Jeynes on getting to grips with promoting protection in the UK
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Group pension plunge hits life companies
11 February 2010
Life companies saw group pension sales plummet last year as rises in unemployment and salary freezes took their toll.
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Gummer's mp expenses are mown down by legg
11 February 2010
Gummer: £29,398 repayment
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Industry backs calling a halt to QE programme
11 February 2010
BoE: Easing on hold
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Is now the time to put Japan back on the buy list?
15 Feb 2010
“A weaker yen and the ever eastwards shift of global growth could convince equity investors that Japan is a good bet again.”
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L&G downgraded by Standard & Poor's
11 February 2010
Standard & Poor’s has downgraded Legal & General, claiming that the firm’s focus on the UK makes it more vulnerable to elevated industry and economic risks in the life sector.
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L&G wants to unlock annuities to pay LTC
11 Feb 2010
Legal & General is lobbying for a change in regulations to allow people to unlock their annuity to pay for long-term care.
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Liontrust plans £2.5m cuts as duo join to turn round outflows
11 February 2010
Liontrust Asset Management has appointed John Ions and Graham Hooper as the company looks to rebuild its business following the departures of Jeremy Lang and William Pattisson.
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Long division
11 Feb 2010
Dipping into a Sipp and calculating what benefits are available is not nearly as simple as it sounds
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Low markets see Standard Sipp transfer values suffer
11 February 2010
Standard Life Sipp business fell by 21 per cent to £2.9bn last year from £3.7bn in 2008 while net inflows dropped by 28 per cent to £1.8bn.
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LVAM appoints chief investment officer
12 Feb 2010
Piers Hillier has joined LV= Asset Management as its chief investment officer.
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MM leader: Enrol for the Money Marketing Academy
11 Feb 2010
This week, Money Marketing announces plans to launch an academy to help readers achieve the new qualification benchmarks required by the retail distribution review.
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MM Leader: Top of the reform
11 Feb 2010
Money Marketing welcomes the Conservative Party’s commitment to scrap forced annuitisation.
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Money Marketing launches RDR academy
11 Feb 2010
Money Marketing is to launch a training academy to help our readers achieve the benchmark qualifications required by the retail distribution review.
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Moneygate tipped for A2O deal
11 February 2010
North-east IFA network Moneygate has emerged as front runner to acquire Alpha to Omega.
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Mother of invention
15 Feb 2010
Chris Gilchrist says technology will force advisers and intermediaries to become innovators.
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MPs want NAO to check out the Bank of England
11 February 2010
MPs have called for the Bank of England to come under the scrutiny of the National Audit Office.
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Octopus puts EIS on hold at fears of Revenue rule changes
11 Feb 2010
Octopus Investments has temporarily closed its enterprise investment scheme to new investment amid uncertainty over HM Revenue & Customs’ interpretation of EIS legislation.
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Offshore firms back UK after Aviva exit
11 Feb 2010
Offshore providers have asserted their commitment to the UK market following the news that Aviva is pulling its offshore bond business due to insufficient demand.
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Out of context
11 February 2010
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Panthera aims to link with Malta firm for Qrops push
11 Feb 2010
Qrops promoter Panthera is looking to sign a distribution agreement with a trust company in Malta for a qualified recognised overseas pension scheme.
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PFS tells Tories not to wheel out old ideas
11 Feb 2010
The Personal Finance Society has warned the Conservatives against reinventing the wheel after a manifesto pledge to develop a free national financial advice service costing the industry £50m per year.
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Pointon York Sipp fee rises
12 Feb 2010
Pointon York’s annual administration fee on its Sipp has risen by 7 per cent to £740 from £690 due to a pricing increase and the VAT change.
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Remainder reminder
15 Feb 2010
Even offering to have a vasectomy was not enough for a court to ascertain what children would survive a father.
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Resolution picks Williamson for Friends' role
11 February 2010
Resolution has appointed Sir Malcolm Williamson as chairman of Friends Provident Holdings, replacing Sir Mervyn Pedelty who died at the end of January.
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Rockingham extends annuity clearing house
11 Feb 2010
Rockingham Retirement is set to expand its annuity clearing house service to search whole of market for the best deal.
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Royal London looks at corporate wrap
11 Feb 2010
Royal London is the latest provider to look at entering the corporate wrap market.
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RoyLon hits out at 'frenzy' of discount deals
11 Feb 2010
Royal London has slammed active member discounts on some group pension schemes, which mean members are hit with a higher annual charge if they leave their employer.
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Santander may go for UK and US listings
11 February 2010
Santander is reportedly considering flotation on the UK stockmarket this year and on the US stock exchange in 2011.
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Sants quits the conflict zone
11 Feb 2010
Advisers say that FSA chief executive Hector Sants is leaving a legacy of failing to crack down on bank advice and not understanding the needs of small IFAs.
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Seek support
12 Feb 2010
It seems only yesterday when we were looking at consumer confidence and a heated housing market keeping the mortgage sector well propped up.
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Special delivery
11 February 2010
Mark Dampier says that with good returns over an exceptionally long timeframe, talented management has produced a rare fund in Fidelity special sits
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Steady as she goes
12 Feb 2010
IFAs are countering uncertainty with disciplined financial planning
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Sterling exchange
11 Feb 2010
Nic Cicutti says he cannot see why Standard Life did nothing to prevent misunderstanding on their part about the sterling fund.
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Steve payne
10 Feb 2010
Bupa’s director of individual protection believes that the experience of failure can be important in learning how to succeed and he says the industry and Government must innovate and work together to close the protection gap
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Stirring the pot
12 Feb 2010
Paul Farrow says Tory pension proposals raise more questions than answers
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Stroud & Swindon drop-lock loan to offer penalty-free fix
11 Feb 2010
Stroud & Swindon Building Society’s intermediary arm ITL Mortgages is planning to offer a product that allows borrowers to switch to a fixed rate at any time without a penalty charge.
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Suicide notes
12 Feb 2010
Peter Hamilton is a barrister specialising in financial services at 4 Pump Court
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Survey shows SVRs dearer than fixes
11 February 2010
Moneysupermarket.co.uk has found that 85 per cent of standard variable rates are more expensive than the cheapest two-year fixed rate, including fees.
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Swip looks to improve flexibility of property fund
12 Feb 2010
Scottish Widows Investment Partnership is looking to widen the investment remit of its £1.5bn property trust.
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Tenet profits down by 64%
11 February 2010
Tenet Group saw its profits fall by 64 per cent to £1m in the 12 months to September 2009 from £2.8m in 2008.
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The annuities alternative
11 Feb 2010
Helen Pow reports that the Tory manifesto plan to axe compulsory annuitisation could see innovative products coming into the retirement market.
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Transact chief Taylor hits out at ‘misleading tactics’ by platforms
11 February 2010
Transact chief executive Ian Taylor claims that platforms are misleading IFAs in a bid to win market share before the retail distribution review changes are implemented.
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Van Der Wielen leaving Clerical after reshuffle
11 February 2010
Managing director of Clerical Medical and Halifax Life John Van Der Wielen is leaving Lloyds Banking Group to return to Australia.
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Vestra Wealth to run WAY green fund of fund
10 Feb 2010
Vestra to act as independent manager for green fund of fund.
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Virtual reality
12 Feb 2010
Paul Thomas asks how Google’s US online mortgage comparison portal would play out in the UK market
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We took a stake in our future with Nucleus
12 Feb 2010
Reeve-Sim’s Mark Reeve says Nucleus’ wrap does what it says on the tin.
