Money Marketing
11 November 2010
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20% of Sipp and SSAS investors see returns of 0.5% or less
18 Nov 2010
Investec Bank says interest rates are “unacceptably low”.
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44% Boost at Scottish Life buoys Royal London despite fall in protection sales
11 November 2010
Royal London has boosted new life and pension business by more than a quarter this year from £1.8bn to £2.3bn despite a 19 per cent slump in new protection business.
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'A basic state pension at £140 will be a huge step forward'
11 Nov 2010
National Association of Pension Funds chief executive Joanne Segars believes the Government state pension reforms are affordable and are likely to follow a blueprint she helped draw up with Steve Webb.
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A capital plan
11 November 2010
Tax planning strategies must be reconsidered in light of serious changes to capital gains tax
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A study in equity release
11 November 2010
Older generations want to financially help their children and grandchildren and equity release can play a big part
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ABI in talks on US data protection laws
12 Nov 2010
Trade body holds crisis talks with the US State Department and the Internal Revenue Service after it emerged data protection legislation will prevent UK providers from complying with complex US disclosure rules.
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Adviser Fund Index
11 November 2010
When the AFI balanced index was rebalanced in May, the top five funds showed a good mix of equity, fixed income and property. They included First State Asia Pacific leaders, L&G dynamic bond, M&G property portfolio, M&G optimal income and M&G global basics. Equities and bonds were also represented in new entrants to the index, with Threadneedle American, Old Mutual UK select equity and JOHCM UK opportunities joining Schroder corporate bond and Cazenove strategic bond.
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Advisers fear a rush for the door as Roger Guy resigns
11 November 2010
Advisers expect further outflows and possibly a dilution levy following news this week that star Gartmore manager Roger Guy has decided to retire from day-to-day fund management.
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AJ Bell Sipp clients face £1k transfer
11 Nov 2010
Long-standing AJ Bell clients hoping to transfer protected rights into the company’s platinum Sipp could face charges of more than £1,000.
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Angel Mas
12 Nov 2010
President of Mortgage Insurance Europe at Genworth Financial believes regulators have a once in a lifetime opportunity to reform the UK’s troubled mortgage market by learning from models that have already worked elsewhere Interview by Cherry Reynard
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Argument for contracting out of S2P gathers pace
12 Nov 2010
John Greenwood says state pension reforms increase argument for contracting out for the last two years it is possible to do so.
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ASA rules Asda life cover ad is misleading
11 November 2010
The Advertising Standards Authority has upheld complaints against Asda Financial Services and ruled that its ad for over-50s life cover is misleading.
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Best laid plans
11 November 2010
Ed Dymott, head of UK fund partners at Fidelity Investment Managers, explains why the RDR cannot afford to fail its original objectives if the financial services industry is to rebuild its reputation and allow IFAs to thrive
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Bright Grey and ScotProv will stay separate brands
11 November 2010
Bright Grey is likely to focus on mortgage and family protection products and Scottish Provident will look to more traditional life products and business protection following a repositioning of the brands next year.
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Brokers hit out at Which? advice service
12 Nov 2010
Mortgage brokers have slammed Which?’s move to offer a new mortgage advice service.
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BT cut £3bn from liability in CPI switch
11 November 2010
Communications giant BT hacked £2.9bn from its pension scheme liabilities as a result of the Government’s decision to switch the pension inflation link from the retail price index to the consumer price index.
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Chavs, Wags and Grace Kelly
11 November 2010
Last week, I chaired the autumn IQ roadshow for the good, good people of Artemis, Henderson, Ignis and Jupiter and enjoyed the experience of playing ringmaster to an unusually balanced programme that covered UK and overseas equities, specifically China - as well as bonds, commodities, cash, currencies and property.
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China clamour poses dilemma for Fidelity
15 Nov 2010
John Kenchington looks at the possible outcomes over meeting huge demand for Anthony Bolton’s China fund
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CI should be 'affordable add-on'
12 Nov 2010
Critical illness cover needs to reinvent itself to become an affordable add-on to life cover, according to Bright Grey.
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Committee rules against FSA rejection of ex-Park Row adviser
11 Nov 2010
The FSA’s Regulatory Decisions Committee has overturned the regulator’s decision to deny reauthorisation to a former Park Row adviser.
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Court cuts the cash chain of compensation
11 Nov 2010
The High Court has ruled that a complainant cannot accept a Financial Ombudsman Service award and pursue the firm in court for additional redress over the same complaint.
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'Don't lock millions out of the mortgage market'
12 Nov 2010
Over two million borrowers could be prevented from moving or remortgaging due to the FSA’s plans for mortgage reform.
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Double dippers think twice
15 Nov 2010
Invesco Perpetual European equity product director Luke Stellini says the investment debate has moved on.
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Dream team
12 Nov 2010
RDR could usher in an efficient group approach to delivering advice.
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DWP rejects pan-European pensions regulation proposal
12 Nov 2010
Webb says “one size fits all” model does not exist.
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F&C's Doel goes to the max with covered calls
11 Nov 2010
F&C’s Phil Doel has started writing covered call and put options to boost the yield on his £138m UK equity income fund as the maximiser model continues to expand.
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Fair comparison
11 November 2010
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Fidelity backs Pica Omo push
11 November 2010
The Pension Income Choice Association has had a boost for its campaign for improved retirement choice after Fidelity Investment Managers backed its stance on the open market option.
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Fidelity cash fund may be renamed
12 Nov 2010
Fidelity says it may look at renaming its retail cash fund following last week’s FSA industry warning that the wording could mislead investors.
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Fidelity looking at direct discounts
12 Nov 2010
Fidelity FundsNetwork is considering discounting annual management charges on funds for direct investors.
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Firm had 'disregard' for loan customers
11 November 2010
The FSA has fined mortgage lender Bridging Loans £42,000 and its director Joseph Cummings £70,000 for serious failures relating to lending practices and for failing to treat customers in arrears fairly.
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FOS decision benefits advisers and consumers
15 Nov 2010
Fishburns’ Harriet Quiney, who won the recent High Court FOS case on behalf of her IFA client, explains why the decision creates important clarity for all.
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FSA and the Treasury fight Euro court gender verdict
11 November 2010
The FSA and the Treasury have challenged calls from the European Court of Justice to ban the use of gender to price products.
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FSCS court showdown: 'Keydata had discretion to act as provider'
11 Nov 2010
Full details of last week’s FSCS judical review in Birmingham High Court.
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Gartmore absolute looks to multi-asset
11 November 2010
Gartmore says its multi-manager absolute return fund would not have been able to deliver consistent return with low volatility if it invested only in funds within the IMA absolute return sector.
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Get a sense of reality
11 Nov 2010
Nic Cicutti says Aifa should forget the forlorn attempts to stop the RDR clock.
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Global bond is top sector with record business
11 November 2010
The Investment Management Association has revealed that global bond was the highest-selling sector in September and in the third quarter as a whole.
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Guessing game as FSA keeps cap-ad clarity in reserve
11 Nov 2010
Industry warns the FSA’s lack of clarity on capital adequacy requirements is creating an air of uncertainty.
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Hargreaves Lansdown slams dog fund data
12 Nov 2010
Hargreaves Lansdown has hit out at Bestinvest over its spot the dog report that labelled Jupiter as the biggest provider of dog funds.
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IFA Life promotes best practice in social media
11 Nov 2010
IFA Life is launching a best practice guide to social networking, which aims to help advisers use the medium effectively and compliantly.
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IFAs urged to improve their online presence
12 Nov 2010
IFAs have been warned that their online visibility is decreasing at the same time as more consumers are using the internet to search for financial advice.
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IFP wants support for planning week
11 November 2010
The Institute of Financial Planning is calling on advisers, financial planners, product providers and the FSA to support its third national Financial Planning Week.
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Invesco plans fund merger with Crossley set to leave
11 November 2010
Invesco Perpetual UK smaller companies growth fund manager Andy Crossley is leaving the firm.
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'Keydata had discretion to act as provider'
12 Nov 2010
The High Court is due to issue a decision over the Financial Services Compensation Scheme’s Keydata levy this month, following a showdown between the FSCS and law firm Regulatory Legal representing over 200 IFAs.
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L&G catching the new platform wave
12 Nov 2010
Geoff Towers, the man credited with building Standard Life’s platform business, is now exploring where Legal & General could fit into “the new wave” of the platform market.
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L&G seeks simpler solution to wraps
12 Nov 2010
Legal & General managing director of platform and distribution Geoff Towers says the provider is not ruling out any options as it looks to develop its wrap strategy.
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Lawyer disputes OFT bank account
11 November 2010
A City law firm has questioned the Office of Fair Trading’s claims that regulatory requirements are not a barrier to entry for new players in the banking sector.
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MAM sees tech and mining growth
11 November 2010
MAM Funds is seeing growth opportunities in technology and mining stocks within its CF Miton global growth portfolio.
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Manx provider wants HMRC Qrops ruling
11 Nov 2010
Isle of Man pension provider is writing to HM Revenue & Customs for clarification regarding changes to the island’s tax rules.
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Merchant adds colour to risk
11 November 2010
Merchant Investors has introduced a “colour wheel” risk-profiling tool for its Accel discretionary fund management service that considers a client’s financial goals and capacity for risk in addition to their risk tolerance.
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MM leader: Reform is long overdue for FSCS funding
11 Nov 2010
A strong and stable compensation scheme must be based on fair and reasonable levies.
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Mortgage view
12 Nov 2010
The Christmas ads are already on TV and it seems an opportune moment to look back on 2010 and forward to 2011. Is there light at the end of the tunnel?
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Multi-manager view
12 Nov 2010
There is an ongoing debate as to whether IMA sector denominations offer sufficient clarity to IFAs and their clients to help them make appropriate investment decisions. Take the balanced managed sector. The name seems to suggest there should be a balance between a portfolio’s equity and non-equity holdings but often these funds have a considerable equity bias. The IMA rules state that balanced funds can have as little as 15 per cent in non-equity and there is no prescription as to whether ...
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Nest confirms Tata contract
12 Nov 2010
Tata secures the 10-year deal, plus State Street Corporation wins fund administration contract.
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New year debut for Intrinsic’s Consolidate platform
11 Nov 2010
Intrinsic Financial Services has named its adviser platform Consolidate and set a January launch date.
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Oakley takes a majority stake in BDO Investment
11 November 2010
Oakley Capital Private Equity has acquired a majority stake in BDO Investment Management.
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Otto Thoresen interview: Aegon plays the numbers game
11 Nov 2010
Tom Selby talks to Aegon chief executive Otto Thoresen about the firm’s ambitions, with the at-retirement market posing a multi-billion-pound opportunity.
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Out of context
11 November 2010
“Oh my god John, you are gorgeous.”
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Parliamentary debate set for RDR
11 November 2010
Backbench MPs have secured a full Parliamentary debate on the retail distribution review.
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Playing for time
15 Nov 2010
As we hurtle at great speed towards the retail distribution review deadline and exam halls bulge with QCF level four students, millions of pounds are spent on business transition and advisercharging is introduced to clients, it appears the FSA has ground to a halt on key consultative issues relevant to the RDR.
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Polson launches independent consultancy business
12 Nov 2010
The Lang Cat sets its sights on platform providers and IFAs.
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Positive Solutions and Origen move into combined profit
11 Nov 2010
Aegon’s distribution arms make a £1m profit for Q3 compared to recent heavy losses.
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RBS slumps to third-quarter loss of £1.4bn
11 November 2010
Royal Bank of Scotland made a loss of £1.4bn in the three months to the end of September, significantly down on the taxpayer-backed bank’s second quarter profit of £1.2bn.
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RDR puts pressure on Old Mutual UK legacy business
11 November 2010
Old Mutual is reviewing its UK legacy business as the retail distribution review pushes investors away from traditional life products and puts pressure on business retention.
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RDR unlikely to see more people take advice
11 November 2010
IFP chief executive Nick Cann discusses the challenges of engaging consumers in the advice process.
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Regulator issues warning over employer related investments
10 Nov 2010
Advisers must ensure ERI does not exceed 5 per cent of scheme assets.
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Rice field
10 Nov 2010
Cazenove’s European fund recently breached the £1bn in assets mark despite the continent’s current unpopularity, with over £440m in gross sales year-to-date. According to the group, this is testament to the ongoing outperformance of manager Chris Rice, approaching his eight-year anniversary on the fund since moving from HSBC in 2002.
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Sandler back in charge after Hoffman quits as Rock chief
11 November 2010
Northern Rock chief executive Gary Hoffman has stepped down from the role and from the Northern Rock board with immediate effect.
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Sipp and wrap business drive Standard growth
11 November 2010
Standard Life’s UK business has increased 10 per cent this year, driven by strong growth in its Sipp and wrap propositions.
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Social issues
16 Nov 2010
How ironic that many of those companies holding themselves out as ethical or morally superior often display a tendency towards the hypocritical and supercilious. I was reminded of this recently when asked to review a friend’s investments arranged by Britannia and even more recently when speaking with Ecclesiastical, the “socially responsible investment experts with a difference”.
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Spread the word
11 November 2010
Family income benefit is the ideal solution for many in today’s economy but first people need to be made aware of it
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Strategic review could end in quick sale of Gartmore
11 November 2010
Analysts believe Gartmore could be sold quickly following news that Goldman Sachs is leading a strategic review of the firm
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Strong case for a protection qualification
16 Nov 2010
Phil Jeynes says there remains a need for a specific protection exam as product knowledge and advice standards can be woefully inadequate.
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Supply lines
11 November 2010
The appetite for commodities in emerging markets is supporting prices, says Philip Poole, global head of macro & investment strategy at HSBC Global Asset Management, despite fears of further economic problems in the West
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Sweet spots in the States
11 November 2010
Forget the mid-term elections and the $600bn QE2 frenzy, the real investment news in the US is to focus on figuring out the fundamentals where savage corporate cost-cutting has brought a suprisingly swift return to high earnings ofr many firms.
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Tax expert Jelley leaves technical gap at Skandia
11 November 2010
IFAs believe that tax expert Colin Jelley’s departure from Skandia is a big loss for the provider.
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The only way is up
12 Nov 2010
There is still a lack of variety but a growing number of mortgages available to brokers shows the market is heading in the right direction. Paul Thomas reports
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The waiting game
15 Nov 2010
It is important not to read too much into the American mid-term election results. That the incumbents on Capitol Hill were bound to get a drubbing was never in doubt. The actual outcome was not as bad as the Democrats might have feared. Nor is such an experience unique, even if it did serve as a reminder that in US politics, the economy is everything.
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Third of fund firms expect RDR hold-up
12 Nov 2010
A third of fund providers believe the FSA will be forced to delay the implementation of the retail distribution review past the December 31, 2012 deadline.
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Towry transfers missing Newton dividends
11 Nov 2010
Former Edward Jones clients transferring away from Towry have not received Newton higher-income fund dividends for over two months.
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UKSIF calls for 'Green Isa' in next Budget
15 Nov 2010
Shepherd says product could help plug £400bn energy investment gap
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Wake-up call may see delay on drawdown
11 Nov 2010
Industry experts point to the fact six-month wake-up packs have yet to be amended as evidence the Government will delay the introduction of its annuity drawdown reforms.
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Watch out for the quiet ones
15 Nov 2010
There seems to be a strong tendency for UK investors to write off their own stockmarket and economy very quickly. Perhaps it is because we are so close to it and see the damage that politicians on all sides do - so why would we invest? Yet despite the politicians and bureaucrats, many UK companies prosper.
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Which? could widen scope of advice service
12 Nov 2010
Which? says it has not ruled out offering further financial advice services following its decision to become a mortgage adviser.
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Will the currency wars have long-term side FX?
15 Nov 2010
The raging global currency war has created uncertainty about investment opportunities and about which areas will be hurt the most.
