Money Marketing
12 March 2008

  • Milburn leaves Royal Liver and insurance industry behind

    14 Mar 2008

    Progress from Royal Liver IFA market manager Andy Milburn is leaving the firm in April after five years.

  • £12M deal sees top two IFA firms merge

    13 Mar 2008

    Falcon Group parent firm Sumus and Lighthouse Group are to merge, creating the biggest autonomous IFA firm in the market.

  • 5,000 Use Trigold training

    13 Mar 2008

    Nearly 5,000 brokers have used an interactive training seminar offered by Trigold since its launch a year ago.

  • 71% Of people plan for retirement from 28

    13 Mar 2008

    Britons start planning for their retirement at 28, five years earlier than the international average age, according to Axa research.

  • A shaw thing

    13 Mar 2008

    Sam Shaw is a reporter on Money MarketingThe highlight of this week, if not the year, was the Money Marketing Awards at the Grosvenor House Hotel. Although I think he thought I had information about the winners ahead of the night, I had to assure Bankhall managing director, IFA services, David Golder that the reason I took £20 off him betting on the winners was down to luck but he did get his own back on one or two of the categories. It certainly livened up sitting ...

  • Abbey Road

    13 Mar 2008

    Abbey road In times of trouble, one learns who one's friends are. Money Marketing is not quite sure what on earth Abbey is thinking in withdrawing its key accounts from several brokers.

  • Abbey slashes new build BTL LTV to 65%

    18 Mar 2008

    Abbey has slashed its new build buy-to-let loan to value from 85 per cent to 65 per cent.It has also reduced its new build house LTV to 85 per cent and new build flats to 75 per cent.The changes come into effect from tomorrow.An Abbey Mortgages spokesman says: "Abbey has always taken a prudent approach to this market and continues to do so. The loan to values we have set reflect current market conditions."

  • ABI says dual charge is fair way for personal accounts

    13 Mar 2008

    The Association of British Insurers says pension pers- onal accounts must adopt a dual charge to avoid placing the burden of costs on the taxpayer.

  • Accrual twist over link to contributions

    13 Mar 2008

    Just as providers push all and sundry back into state second pensions by contracting in, the pre-Budget report announced a new acronym - the UAP.

  • Advisers confident over re-mortgage and protection, says L&G

    17 Mar 2008

    Legal & General is launching a quarterly adviser confidence index that will track expectations among advisers of mortgage and protection sales and interest rate movements.

  • Advisers wary of using single wrap

    13 Mar 2008

    Advisers fear that over-familiarity with a single wrap provider could damage client portfolios as advisers will be less inclined to switch funds off the platform.

  • Aegon buoyed by strong protection and annuity sales

    13 Mar 2008

    Aegon's new life and pension business increased by 12 per cent last year to £1.18bn compared with £1bn in 2006.

  • Altmann on alert over generic pension advice

    13 Mar 2008

    Pension consultant Ros Altmann has warned that the Government's proposals for generic advice on retirement planning are fraught with dangers.

  • Anna Sofat launches 'haute couture' wealth firm for women

    12 Mar 2008

    Addidi is a new wealth management proposition for women launched by Anna Sofat.

  • Art and science

    13 Mar 2008

    One of the challenges of a professional body is to ensure value is delivered to all members. It is important that events and activities in addition to learning are available and for to be in different formats to meet members' preferred learning styles.

  • Assetmaster widens its links

    13 Mar 2008

    Williams de Broe's assetmaster funds are being made available through Merchant Investors' OneSipp and investment portfolio products.

  • Atlantis IM grows India team

    12 Mar 2008

    Atlantis Asset Management has recruited two analysts and a business manager to its India team working into fund adviser to the India opportunities funds Vinay Gairola.

  • Aussie rules

    13 Mar 2008

    Which internet search engine has the most visits per user? Google? Yahoo? Actually, it is naver.com, the number one search engine in South Korea.

  • AWD Chase de Vere launches new tax and trusts division

    17 Mar 2008

    AWD Chase de Vere is opening a new tax and trust division headed up by former-Alexander Forbes staffers Paul Grafton-Holt and Claudio Bacci.

  • Bank function

    13 Mar 2008

    The liquidity squeeze is now biting across the board. In extreme cases, lenders are shutting up shop until further notice while others are withdrawing product ranges, tightening criteria and increasing their pricing. In the sub-prime sector, Future has just withdrawn its very heavy product and Accord has made drastic cutbacks, having already, as with C&G, pulled out of the 100 per cent market and reduced its maximum mainstream LTV to 90 per cent.

  • Bear Stearns seeks emergency funding from Fed

    14 Mar 2008

    Bear Stearns has been forced to seek emergency financing from the Federal Reserve Bank of New York and JP Morgan Chase & Co after its liquidity position sharply deteriorated.

  • Big increase in candidates taking entry level IFA exam

    14 Mar 2008

    The ifs School of Finance has reported a large rise in the number of people taking its certificate for financial advisers.

  • Bio logic

    13 Mar 2008

    Biofuels are set for rapid expansion in the next few years. Rising oil prices, ethical concerns and a realisation that oil stocks are finite are all causing an increase in interest.

  • Blue Sky Asset Management - Protected Income Plan

    18 Mar 2008

    Blue Sky Asset ManagementProtected Income Plan

  • BM Solutions withdraws sub-prime self cert range

    13 Mar 2008

    BM Solutions is to withdraw all 13 of its sub-prime self-certification deals at midnight this Saturday.In an email alert to brokers it says it will also be withdrawing five of its sub-prime products.Brokers are told to make sure they get their applications submitted in full by March 15.

  • Bonds still have their uses

    13 Mar 2008

    The news that "the Government does not see the need for any change to the taxation of life insurance bonds as a result of CGT reform" has been met with general disappointment.

  • Bridge over troubled Waters

    13 Mar 2008

    Last week the FSA issued a warning to advisers with white-labelled fund ranges that it would not tolerate any return to "the bad old days of broker funds".

  • Broker Talkback

    13 Mar 2008

    Do you think Otto Thoresen's plans for a generic advice style service, called money guidance, will benefit the adviser community?

  • BUDGET 2008 NEWS: ABI criticises Govt for uncertainty caused by CGT

    12 Mar 2008

    The Association of British Insurers has criticised the Government for its lack of consultation over the impact of the capital gains tax changes saying it caused confusion and uncertainty for savers.

  • BUDGET 2008 NEWS: Cameron says Govt having credibility crunch

    12 Mar 2008

    Conservative leader David Cameron has attacked the Government in his retort to the Chancellor's Budget speech claiming it was having a "credibility crunch".

  • BUDGET 2008 NEWS: CGT raises concerns for life offices

    12 Mar 2008

    The Chancellor’s decision introduce the capital gains tax rate at 18 per cent CGT for investment bonds will limit their use and will cause concern the life offices, says BDO Stoy Howard Investment Mangement.

  • BUDGET 2008 NEWS: Darling delays income shifting rule

    12 Mar 2008

    Legislation to clamp down on the practice of income shifting was delayed by Chancellor Alistair Darling in Wednesday’s Budget.

  • BUDGET 2008 NEWS: Fidelity urges advisers to avoid spurious yarns on bonds

    12 Mar 2008

    Fidelity FundsNetwork says the confirmed CGT changes do not mean the end for investment bonds but that advisers must consider the case for mutual funds particularly higher rate taxpayers.

  • BUDGET 2008 NEWS: Fund managers mixed over "green" Budget

    12 Mar 2008

    Fund managers are at odds over whether Chancellor Alistair Darling went hard enough on his environmental policy.

  • BUDGET 2008 NEWS: IFAs might prefer UTs/Oeics to bonds says pi Financial

    12 Mar 2008

    Investment bonds might be seen as less competitive to unit trusts and Oeics because of the capital gains tax changes, but could still be seen as useful tax planning tools, says pi Financial.

  • BUDGET 2008 NEWS: Inflation will not mirror early 90s

    12 Mar 2008

    In today's Budget speech, Chancellor Alistair Darling said he was confident about inflation, saying it would not return to the rates of the early 1990s. He said to in the face of global economic instability, inflation would rise in the short term, due to rising oil and food prices.But he said it would return to target during 2009 and thereafter.

  • BUDGET 2008 NEWS: Isa limits remain but extension of savings gateway

    12 Mar 2008

    Chancellor Alistair Darling has kept Isa limits at £7,200 including a total cash holding of £3,600. He also announced the extension of its savings gateway that will assist up to 8m lower income earners to save.Darling said child poverty was a priority, announcing that there were currently 2.4m child trust funds in effect and these would remain a priority.

  • BUDGET 2008 NEWS: Ken Livingstone to benefit from Darling's tax relief if he loses Mayoral race

    12 Mar 2008

    Mayor of London Ken Livingstone will benefit from today's Budget if he loses the mayoral election due to Chancellor Alistair Darling's introduction of a tax exemption.

  • BUDGET 2008 NEWS: KPMG says non-doms may get year’s grace

    12 Mar 2008

    KPMG says non-domiciles resident in the UK for just seven years may benefit from a year’s grace before being required to pay an annual £30,000 charge.

  • BUDGET 2008 NEWS: Nick Clegg says Budget is "act of political ventriloquism"

    12 Mar 2008

    Liberal Democrats leader Nick Clegg claims the Chancellor's Budget is an "act of political ventriloquism" which "gives precious little to the poor but maintains special treatment for the rich".

  • BUDGET 2008 NEWS: Night-time residency test for non-doms

    12 Mar 2008

    The Government has revised rules for calculating residency in the UK for non-domiciles.

  • BUDGET 2008 NEWS: No retreat on non-doms date

    12 Mar 2008

    Controversial tax legislation for non-domiciled residents in the UK will be implemented within weeks, says Chancellor Alistair Darling.

  • BUDGET 2008 NEWS: Simon Ward surprised by net gilt issuance

    12 Mar 2008

    New Star chief economist Simon Ward says that one surprise in the budget was that net gilt issuance is projected to surge from £29bn in 2007/8 to £63bn in 2008/9.

  • BUDGET 2008 NEWS: Six month extension for IIP trustees and beneficiaries

    12 Mar 2008

    Trustees and beneficiaries of “interest in possession” settlements have been offered an extra six months to adjust to new inheritance tax trust rule changes. The Government changed the IHT rules for existing IIP trusts in the Finance Act 2006 and introduced a transitional period so that trustees could reorganise trusts set up on or before 21 March 2006 without being immediately affected by the new rules. Under the legislation trustees had until 5 April 2008 to complete ...

  • BUDGET 2008 NEWS: Stamp duty slashed on shared-ownership homes

    12 Mar 2008

    The Chancellor has announced in today's Budget that there will be no stamp duty on shared ownership homes until 80 per cent owned.

  • BUDGET 2008 NEWS: Transitional 22% rate for charity gift aid

    12 Mar 2008

    Chancellor Alistair Darling has introduced a transitional rate of 22 per cent for charities to continue to claim gift aid at the current rate. He said: "This would deliver £300m of relief and would give charities the certainty they need for the next years."

  • BUDGET 2008 NEWS: UK growth slower than expected

    12 Mar 2008

    Britain's GDP has been forecasted as lower than initially anticipated in today's Budget announcement.

  • BUDGET 2008 NEWS: Working party to help liquidity

    12 Mar 2008

    The Chancellor has announced in today's Budget that it will create a working group to take forward market initiatives to improve liquidity in the mortgage-backed securities market.Alistair Darling says the working group will include the mortgage industry, the investment industry and also HM Treasury, the Bank of England and the FSA. The working group will report initially to the Chancellor in summer 2008 and present proposals at the 2008 Pre-Budget Report.

  • Budget fails to excite on pensions but CGT clarification welcomed

    13 Mar 2008

    The consensus from the pensions community was that it was a pretty dull Budget but the life industry welcomed the clarity surrounding capital gains tax.

  • Budget ignores liquidity crunch

    14 Mar 2008

    Suggesting this week’s Budget was disappointing for those in the mortgage market is a bit of an understatement.

  • BUDGET NEWS 2008: Budget does nothing for FTBs

    12 Mar 2008

    The Government has not done anything to help pressed borrowers and first time buyers says propertyfinder.com major client director Nicholas Leeming.

  • BUDGET NEWS 2008: CML says Government ducked responsibilities

    12 Mar 2008

    The Council of Mortgage Lenders says the Government have ducked the pressing nature of the issues facing mortgage markets but welcomes the Government’s consultation.

  • BUDGET NEWS 2008: Higher tax relief limit on EIS

    12 Mar 2008

    Chancellor Alistair Darling has raised the tax relief on enterprise investment scheme (EIS) from £400,000 to £500,000.Hargreaves Lansdown investment manager Ben Yearsley questions the move saying it should have focussed on VCTs rather than the higher risk investments.“It’s a move that very few people will be able to take advantage of. It would have been more beneficial if the VCT limit was raised from £200,000 to £250,000 and has the added benefit of helping more small businesses.”

  • BUDGET NEWS 2008: No change on CGT for bonds

    12 Mar 2008

    The Government says it will not change the taxation of life insurance bonds as a result of its capital gains tax reforms.

  • BUDGET NEWS 2008: Only 24 days to exploit new CGT rules

    12 Mar 2008

    Business owners only have 24 days left to transfer the ownership of their companies to avoid the new capital gains tax rates, says Mazars.

  • BUDGET NEWS 2008: Tax relief on thousands of savings could be lost says AWD Chase De Vere

    12 Mar 2008

    The budget not only fails to address long term savings gap but in fact could mean tax relief on thousands of pounds of savings could be lost says AWD Chase de Vere.

  • BUDGET NEWS 2008: Tisa backs Saving Gateway

    12 Mar 2008

    Tisa applauds the Government’s announcement to create a new kind of savings scheme targeted at low and moderate earners, who are often least able to save.

  • BUDGET REACTION: Be cautious before switching clients, warns Ken Davy

    13 Mar 2008

    Simply Biz chairman Ken Davy says the fact that the Budget failed to take notice of hard lobbying by the Association of British Insurers to change the taxation of life insurance bonds is not a good sign for the industry.

  • BUDGET REACTION: Changes leave IFAs on neutral ground, says Peter Mann

    13 Mar 2008

    Bankhall chief executive Peter Mann says advisers are on neutral ground with the Budget announcements over the 18 per cent flat rate of capital gains tax and Chancellor Alistair Darling's decision to leave the taxation of life insurance bonds alone.

  • BUDGET REACTION: No change in bond sales for Tenet

    13 Mar 2008

    Tenet says it was not surprised by the Chancellor's inaction on life insurance bonds yesterday.

  • BUDGET REACTION: Relief over offshore mortgages, says PKF

    13 Mar 2008

    Non-UK domiciles with homes in the UK or offshore trusts will be relieved at the non-retrospective decision by the Chancellor to pay UK tax on earnings, says PKF Accountants.

  • BUDGET REACTION: Woolley on what it means for advisers

    13 Mar 2008

    The weather may have affected the racing at Cheltenham but it was full steam ahead in the House of Commons for the 2008 Budget.

  • CAB figures evidence of looming housing crash, says Cable

    18 Mar 2008

    Liberal Democrat Shadow Chancellor Vince Cable says new figures from the Citizens Advice Bureau are further evidence a housing crash is looming.

  • Cameron cuts to credibility crunch

    13 Mar 2008

    The Government is in the middle of a credibility crunch, says Tory leader David Cameron.

  • Cash landing

    13 Mar 2008

    Cash and cash prod-ucts are attracting the attention of product providers and advisers.

  • Cash reserve facility most used fund, says Cofunds

    18 Mar 2008

    Cofunds says fund switches are running at higher levels this year as market volatility continues to unsettle investors.

  • Catalyst for change

    13 Mar 2008

    The recent statement by the chairman of Friends Provident, which is available for all to read on its website, clearly demonstrates the challenges for product providers in managing their capital base effectively.

  • Caution urged on bond switch

    13 Mar 2008

    Aifa director general Chris Cummings has urged advisers to be cautious on transferring clients out of insurance bonds after the Budget clarification on tax on Wednesday.

  • Certainty offers opportunities on CGT choice

    13 Mar 2008

    Advisers can now deal with clients with certainty after the Government confirmation in the Budget on Wednesday that there would be no change to the tax treatment of insurance bonds in response to the new capital gains tax rate.

  • CII's Bob Bullivant to head up Annuity Direct

    13 Mar 2008

    Annuity Direct has appointed Chartered Insurance Institute deputy director general Bob Bullivant as its new chief executive.

  • Claim-chaser who kept the compensation escapes jail

    13 Mar 2008

    A claim-chaser adviser who tricked clients out of thousands of pounds has been told he will not face jail.

  • Close transfers 4,200 investments onto Alliance Trust platform

    18 Mar 2008

    Alliance Trust Savings has completed the transfer of over 4,200 Close Investments Isa, Pep and share plan wrappers to its platform.

  • Cofunds plans to take Sipp to HNW advisers

    13 Mar 2008

    Cofunds is set to offer a high-end Sipp as part of its strat- egy to focus on the retire- ment market.

  • Colin Franklin

    13 Mar 2008

    After 29 years with the Coventry Building Society, director of sales Colin Franklin jokes that he is "finally getting the hang of it".

  • Column itches

    13 Mar 2008

    It must be great fun being a consumer journalist. Numerous freebie events and invites to plush restaurants as well as the cachet of being seen as the friend of the consumer or the man who tells it like it is.

  • Comprehensive adviser Budget coverage from Money Marketing

    12 Mar 2008

    Money Marketing will be providing comprehensive online coverage of Alistair Darling’s first Budget and analysis of what it will mean for you and your clients.

  • Deadline for IHT is extended

    13 Mar 2008

    Advisers, trustees and beneficiaries are set to benefit from a six-month extension to the transition period relating to rule changes to interest in possession trusts.

  • Deal or no deal?

    13 Mar 2008

    Last week I considered how a business owner, who would pay less tax on a sale of their business before April 6, 2008, could trigger a gain under the current rules so as to access a lower overall effective tax rate.

  • Defaqto says advisers are key to platforms' success

    13 Mar 2008

    Providers that want a long-term future in the adviser platform market will need to respond positively to advisers' requirements to achieve success.

  • Dodging the crunch

    12 Mar 2008

    Up for sale fund firm F&C Asset Management has been given a two-fold boost in the past week as the group announced strong profits in the wake of the ongoing market volatility.

  • Duffy made redundant after just five months at Sterling

    13 Mar 2008

    Robert Sterling managing director Kevin Duffy has been made redundant after only five months at the firm.

  • Easier2move promotes two to regional sales directors

    14 Mar 2008

    Easier2move has promoted Lisa Newey and Charlotte Etheridge to regional sales directors.

  • Edeus moves into new head office

    17 Mar 2008

    Edeus has moved into a new office space in Wolverhampton and claims it demonstrates its long-term commitment to the mortgage market.

  • Editor's view: Ombudsman o'clock for mortgage market

    18 Mar 2008

    Tick. Tock. It’s ombudsman o’clock for the mortgage market. The principal ombudsman Tony Boorman is making noises that sound very like he is envisaging a new ombudsman-led review of the mortgage market.

  • Edmans takes over as MGM deputy chairman

    13 Mar 2008

    MGM Assurance has appointed former Aegon corporate development director Laurie Edmans as deputy chairman.

  • Eppinger and Ainsworth step down at Cofunds

    13 Mar 2008

    Cofunds chief executive Charlie Eppinger is to step back from day-to-day management duties and become chairman of the platform, replacing Alan Ainsworth.

  • Equity income out in the cold

    13 Mar 2008

    Retail investors are shun- ning equity income funds and opting to place new money in aggressive and defensive funds, says Hargreaves Lansdown.

  • ETF Securities - ETFS Short Coffee

    14 Mar 2008

    ETF SecuritiesETFS Short Coffee

  • ETF Securities - ETFS Short Cotton

    14 Mar 2008

    ETF SecuritiesETFS Short Cotton

  • ETF Securities - ETFS Short Energy

    14 Mar 2008

    ETF SecuritiesETFS Short Energy

  • ETF Securities - ETFS Short Precious Metals

    14 Mar 2008

    ETF SecuritiesETFS Short Precious Metals

  • Euro commissioner rules out regulation on remuneration

    13 Mar 2008

    Remuneration schemes in the financial services sector should not be regulated, says European Commissioner Charlie McCreevy.

  • Expats can take pension with them

    13 Mar 2008

    Investors who emigrate should consider moving their pension into overseas schemes because they will now not be subject to inherit- ance tax.

  • F&C linking up with Clarkson Hill for lifestyle fund range

    13 Mar 2008

    F&C Asset Management is teaming up with adviser firm Clarkson Hill to form a distribution partnership for its suite of lifestyle funds.

  • Fidelius becomes 40th firm to sign up for Nucleus

    13 Mar 2008

    West Country adviser Fidelius has become the latest IFA to join Nucleus, taking the number of member firms to 40. The IFA says the decision to take an equity stake in Nucleus comes after many months of market analysis and proposition testing.

  • Financial services playing musical chairs

    18 Mar 2008

    As Royal Liver IFA market manager Andy Milburn announces his industry exit after nearly two decades, it signals the latest seat-shifting in the protection sector in recent weeks.

  • Firms warn of dangers in holding rates

    13 Mar 2008

    Financial services firms have hit out at the Bank of England monetary policy committee's decision to maintain base rates at 5.25 per cent last week.

  • Flash cash

    13 Mar 2008

    Advisers might be forgiven for thinking that choosing a cash Isa is one of those decisions that clients can take themselves. The product would appear to be straightforward and purely transactional, yet there are still opportunities to help clients make the most of their cash savings.

  • Former L&G executive Phipps joins Partnership

    13 Mar 2008

    Partnership Assurance has appointed ex-Legal & General group executive director Robin Phipps to its board.

  • FOS warns it will make "significant awards" over mortgage misselling

    17 Mar 2008

    FOS principal ombudsman Tony Boorman has warned the mortgage industry it will make “significant awards” to customers who have been missold mortgages.

  • FSA £2m ads to help transition

    13 Mar 2008

    The FSA has launched a £2m advertising campaign to help the 1.4 million mortgage borrowers whose fixed rates or discount deals are coming to an end this year.

  • FSA spends £13m on consultants

    13 Mar 2008

    FSA spending on external consultants has risen by nearly a third in the last five years.

  • FSA turned deaf ear to ticking Rock timebomb

    13 Mar 2008

    Hector Sants' claim that "the regulatory framework is not designed with the intention of ensuring that any given institution cannot fail" is surely little more than a fig leaf of an excuse for the FSA's gross failure to regulate banks in general and Northern Rock in particular.

  • FSCS wheels move slowly

    13 Mar 2008

    I was quite surprised to read people complaining about the FSCS because I think they have got hold of the wrong end of the stick.

  • Fund managers split on economy forecast

    13 Mar 2008

    Star fund managers have returned a split verdict on Chancellor Alistair Darling's economic forecast for the UK market.

  • Funds will be winners in tax tussle

    13 Mar 2008

    Advisers say mutual funds are bound to grow in popularity at the expense of insurance bonds on the back of the changes to capital gains tax.

  • Gateway could clash with personal accounts

    13 Mar 2008

    Plans to roll out the Savings Gateway scheme from 2010 could cause further complications for pension personal accounts.

  • 'Get clients out of investment graveyard,' says Jupiter chief

    13 Mar 2008

    Jupiter joint managing director Gordon Davidson is urging advisers to move their clients away from the "graveyard" of traditional retirement savings strategies.

  • GMAC-RFC push on mortgage IT support

    17 Mar 2008

    GMAC-RFC is launching a new initiative to explain the new breed of processing systems to packagers and brokers.

  • Going Deutsche

    13 Mar 2008

    Deutsche Bank has introduced an outstanding income product aimed at the self-invested personal pension and small self-administered scheme market. The DB alternative income note (sterling) aims to provide 9.5 per cent annual income with capital fully protected by Deutsche Bank at the end of the 10-year term. It also offers the potential of capital growth with low volatility.

  • Good Faif

    13 Mar 2008

    Consultation on the introduction of retail-orientated funds of alternative investment funds closes on May 22, after which the FSA will finalise draft rules.

  • Held to account

    13 Mar 2008

    I feel the hand of history is upon our shoulders. I really do." So said a former Prime Minister, nearly 10 years ago, before the Good Friday agreement was signed.

  • HML operations director to leave

    14 Mar 2008

    HML has announced that operations director Damian Stansfield will be leavng the company at the end of March.

  • HMRC's offshore amnesty turns 'legal system on its head’, says PKF

    17 Mar 2008

    Tax accountants and business advisery firm PKF is warning an HMRC demand for information from thousands of offshore account holders “turns one of the central tenets of the English legal system on its head”.

  • Hollis tries again to help women in Pensions Bill

    13 Mar 2008

    Baroness Hollis of Heigham will again propose an amendment to the Pensions Bill which would benefit women and people with broken work histories.

  • How Cofunds has earned our commitment

    13 Mar 2008

    O ur company took the decision to join Cofunds from launch in early 2001. Given the principle behind fund supermarkets, it seemed sensible to choose one platform and commit to it. Using several platforms would surely defeat the object of the exercise.

  • HSBC hires new CEO for Russia

    12 Mar 2008

    HSBC has appointed Stuart Lawson as chief executive with a mandate to accelerate its growth across Russia.

  • Huelin becomes MD at Abbey International

    13 Mar 2008

    Colin Huelin has been appoin- ted managing director of Abbey International.

  • Is Aifa being defeatist or in denial over Pickering?

    13 Mar 2008

  • JPMorgan Chase buys Bear Stearns

    17 Mar 2008

    JPMorgan Chase has bought troubled investment bank Bear Stearns for a cut price £116m.

  • Keeping the Faif

    13 Mar 2008

    If the FSA can get the tax treatment of funds of alternative investment funds correct, would the addition of onshore Faifs be a welcome addition to the choice of authorised investments available to IFAs?

  • L&G set to take on B&B multi-manager mandate

    18 Mar 2008

    Bradford & Bingley is to hand L&G a £400m multi-manager mandate after bringing an end to its contract with Axa Framlington.

  • L&G's life and pensions profits fall by 17%

    18 Mar 2008

    Legal & General's UK life and pensions profits fell by 17 per cent last year to £720m compared with 2006.

  • Legal & General still top for technology, says FTRC

    13 Mar 2008

    Legal & General has retained its title as a top technology provider for the fourth year running, according to independent research by the Financial Technology Research Centre.

  • Lender action will cause worst market outcome, says CML

    18 Mar 2008

    Council of Mortgage Lenders director-general Michael Coogan has admitted that if every lender continues to act in a way which protects their own interest, the UK will end up with the worst outcome for the market overall.

  • Let's treat clients like grown-ups

    13 Mar 2008

    Are we as an industry/ profession treating customers fairly and, if not, why not?

  • Life offices lose out on tax plea for fund

    13 Mar 2008

    The question was how much the Chancellor would row back on his major pre-Budget report announcements.

  • Living Time builds to take on Goliaths of annuities

    13 Mar 2008

    Living Time has strengthened its sales team for a big push into the IFA market aimed at stealing market share off what it calls the "Goliath" traditional annuity providers.

  • Loan funding move is 'too little too late'

    13 Mar 2008

    Mortgage experts have hit out at the Government's plans to create a working group to improve liquidity, branding them too little too late.

  • London & Capital - Portfolio Management Service

    14 Mar 2008

    London & CapitalPortfolio Management Service

  • Long-term view lacks understanding

    13 Mar 2008

    Alistair Darling's speech was just as boring as Gordon Brown used to be, with the first 20 minutes given over to the usual boasting, and he repeated Brown's comment about fairness , saying he was "committed to fairness for all taxpayers."

  • M&G - European Special Situations Fund

    14 Mar 2008

    M&GEuropean Special Situations Fund

  • M&G - European Strategic Value Fund

    14 Mar 2008

    M&GEuropean Strategic Value Fund

  • Manufacturing liability

    13 Mar 2008

    I have always felt the same about initial sales commission as Churchill thought about democracy. It is a poor system but it is better than anything else that has been tried.

  • Maximum bond width

    13 Mar 2008

    Credit markets continue to be in turmoil and we are beginning to see a secondary reaction involving hedge funds. The crisis is mainly about massive deleveraging and this is going to continue for quite some time.

  • Meteor Asset Management - Solar Income Plan

    18 Mar 2008

    Meteor Asset ManagementSolar Income Plan

  • Mind the gap on TCF deadline

    13 Mar 2008

    I continually marvel at what consumers seem to draw from the media about the state of the economy. Motley Fool research shows that one in six people believe the UK is in recession, with many expecting the recession to continue indefinitely.

  • Money Marketing Markets: Who would be a fortune-teller?

    14 Mar 2008

    Decisive action from a coalition of the world’s leading central banks and comment from an unlikely saviour appears to have staved off another down week for the markets. The announcement on Tuesday that the US Federal Reserve, Bank of England and European Central Bank, along with the Swiss and Canadian authorities, would together pump £100bn of liquidity into the markets sparked a two day mini-rally. The news dramtically overshadowed the Budget, which, as is often the case, proved ...

  • Money Partners to cut up to 65 jobs

    17 Mar 2008

    Money Partners has confirmed it is to enter into a consultation with employees which could see up to 65 job cuts.

  • MoneyQuest bought by former Egg chief

    14 Mar 2008

    Scottish mortgage broker MoneyQuest has been bought by former Egg chief executive officer Paul Gratton.

  • Mortgage arrears problems up by 35%, says Citizens Advice Bureau

    18 Mar 2008

    Mortgage arrears problems shot up by 35 per cent in the first two months of 2008 compared with the same period in 2007, according to the Citizens Advice Bureau.

  • Mortgage broker shuts call centres

    13 Mar 2008

    Scottish mortgage broker Contact 4 is to close three call centres in Ireland after being hit by the slump in the housing market.

  • Mortgage Express pulls 100 per cent range

    12 Mar 2008

    Mortgage Express has confirmed it will be withdrawing its 100 per cent range from today.

  • Mortgages Plc to withdraw from BTL market

    18 Mar 2008

    Mortgages plc has announced it is withdrawing from the prime buy to let market with immediate effect.

  • MPs attack big bonuses for Revenue

    13 Mar 2008

    The Treasury select committee has attacked the Chancellor's departments for rew- arding failure by paying excessive bonuses of up to 60 per cent to senior staff.

  • N4 hires new client solutions consultant

    13 Mar 2008

    Experian-owned N4 Solutions has appointed Henry Woodcock as client solutions consultant.

  • NAPF warns IMA's annuity alternatives could confuse further

    12 Mar 2008

    The National Association of Pension Funds is issuing caution following the Investment Management Association's call to end compulsory annuitisation.

  • New challenges

    13 Mar 2008

    A lot of friends have remarked to me that September 2007 must have been a difficult time to start a new fund management company.

  • New group company secretary for Lighthouse

    18 Mar 2008

    Lighthouse Group has appointed Mark Ross as group company secretary.

  • New life for providers

    13 Mar 2008

    Standard Life says it is in direct competition with the likes of Vertex and Capita as it aims to reposition itself as a servicing company.

  • New Nucleus board appointments announced

    17 Mar 2008

    Nucleus has announced the appointment of a new board following a re-election.

  • New Star UK alpha manager Tim Steer calls on banking sector to “face reality”

    17 Mar 2008

    New Star UK alpha fund manager Tim Steer believes it is time that the banking sector stopped putting its head in the sand and looked for a solution to the credit squeeze.

  • Northern Rock to halve asset base by 2011

    18 Mar 2008

    Northern Rock is to cut its asset base by around a half by 2011, it has been revealed today.

  • O'Brien puts FAS rises on fast track

    13 Mar 2008

    Pension reform minister Mike O'Brien says measures to increase the level of payments by the Financial Assistance Scheme are to be fast-tracked.

  • Offshore route gains attraction for non-doms

    13 Mar 2008

    Offshore bonds are now hug- ely more attractive to UK non-doms as a result of tax changes confirmed in the Budget, says Skandia.

  • Old Broad Street Research launches new fund website

    18 Mar 2008

    OBSR has launched its new ratings website that will offer users enhanced features to help pick the right fund.

  • OnlyFinance strikes white-labelling deal with The Sun

    14 Mar 2008

    OnlyFinance.com has struck a deal with The Sun newspaper to provide its online insurance products to readers.

  • Pathfinder general

    13 Mar 2008

    Most people expected Otto Thoresen's report on free financial advice for all was going to be an assessment of the pros and cons of generic advice but it turned out to be the announcement of a money guidance scheme that may become a National Wealth Service.

  • Pension changes at both ends of wealth scale

    13 Mar 2008

    Changes to pensions in the Budget all fall into the "minor and technical" category although there are some points of interest for advisers with clients at both ends of the wealth scale.

  • Pink Home Loans - BM Solutions Buy to Let: BBR + 0.14% for 2 Years

    14 Mar 2008

    Pink Home LoansBM Solutions Buy to Let: BBR + 0.14% for 2 Years

  • Pink Home Loans- BM Solutions Buy to Let: BBR + 0.04% for 3 Years

    14 Mar 2008

    Pink Home LoansBM Solutions Buy to Let: BBR + 0.04% for 3 Years

  • Police study shows £700m cost from mortgage fraud

    13 Mar 2008

    Mortgage fraud in the UK cost the industry £700m in 2007, according to a report by the Association of Chief Police Officers.

  • Pos Sol push on single parent advice

    17 Mar 2008

    Positive Solutions is planning to deliver financial services to single parents in an exclusive partnership with consumer websites OnlyDads and OnlyMums.

  • Power Amp Music - Power Amp Music Fund EIS

    18 Mar 2008

    Power Amp MusicPower Amp Music Fund EIS

  • Proof over advice suitability is paramount

    17 Mar 2008

    The key Budget message for IFAs last week seemed to be around the opportunity to revisit clients’ investment holdings in bonds and assess whether switching into collectives might be appropriate.

  • Proposals will harm rather than boost DB schemes, says OPT

    18 Mar 2008

    Occupational Pensions Trusts is warning that proposals from The Pensions Regulator and Accounting Standards Board could threaten the future of defined benefit schemes.

  • Prudential - Income Drawdown With Sipp Option

    18 Mar 2008

    PrudentialIncome Drawdown With Sipp Option

  • Pub EIS draws on local expertise

    13 Mar 2008

    Ram Capital expects interest in its multi-manager pub enterprise scheme fund to increase in the run-up to the Government's capital gains tax reforms.

  • 'Quit smoking and save £12,500 on premiums'

    13 Mar 2008

    Prudential says smokers could save over £12,500 on life and serious illness insurance premiums by giving up the habit.

  • Ram Capital Partners - Edge Live Protected EIS Fund

    14 Mar 2008

    Ram Capital PartnersEdge Live Protected EIS Fund

  • Savills Private Finance profits jump 16 per cent

    13 Mar 2008

    Savills Private Finance has seen profit before tax jump by 16 per cent to £5.1m in 2007.

  • Scottish Widows Bank to only accept business for professional range

    17 Mar 2008

    Scottish Widows Bank has announced it will temporarily stop accepting new business application for its graduate, flexible, key-worker and buy to let ranges.

  • Shares rebound following more market jitters

    18 Mar 2008

    Shares in Europe have bounced back this morning as the US Federal Reserve prepares to discuss a further rate cut to improve market sentiment.

  • SIML hands £40m best ideas mandate to Dan Hanbury

    12 Mar 2008

    Skandia Investment Management Limited (SIML) has handed a £40m mandate to River & Mercantile’s Dan Hanbury to add his 10 favoured stocks to its UK and global best ideas funds.

  • Skandia picks 10 for Euro best ideas fund

    13 Mar 2008

    Skandia has set out the line-up of 10 managers for its European best ideas fund.

  • Skandia picks River & Mercantile's Hanbury for ideas funds

    13 Mar 2008

    Skandia Investment Management has handed a £40m mandate to River & Mercantile's Dan Hanbury as he replaces Roger Whiteoak in its UK and global best ideas funds.

  • Skandia says life offices struggle with platforms

    13 Mar 2008

    Skandia claims life companies have misjudged the platform market. Skandia UK chief executive Brett Williams says that Friends Provident's withdrawal from the wrap market before launch and Norwich Union's problems with Lifetime illustrate the fierce competition in the market.

  • Soft target

    13 Mar 2008

    Last Thursday, I was at the Financial Services Scotland conference as one of the investment question time panel. I was disappointed we did not have a bigger audience but it happened that our session coincided with the announcement of the result of the monetary policy committee's deliberations over interest rates. Feeling mischievous, I was the sole panel member who suggested that the MPC might have a rush of good sense and cut rates. It did not, of course, but then it did disclose that ...

  • Spottiswoode to respond to NU's reattribution offer today

    12 Mar 2008

    Aviva policyholder advocate Clare Spottiswoode is due to respond to Norwich Union's offer of a reattribution of its £5bn inherited estate in its with-profits funds to policyholders today.

  • Staff vote for pension as top benefit

    13 Mar 2008

    A workplace pension is the most important company benefit that an employer can offer, according to a survey by the National Association of Pension Funds.

  • Stamp tax take triples in five years

    13 Mar 2008

    House prices fell by 0.3 per cent in February but are 4.2 per cent higher than at the same time last year, according to Halifax research.

  • Standard adds discretionary trust

    13 Mar 2008

    Standard Life is adding a new discretionary trust to its estate planning suite.

  • Standard confident on switch

    13 Mar 2008

    Standard Life says it is confident it can take on the likes of Vertex and Capita as it continues its move from traditional life company to support service provider.

  • Standard Life profits up 43%

    12 Mar 2008

    Standard Life has reported a 43 per cent increase in pre-tax operating profits on a record year for new business.

  • Structural survey

    13 Mar 2008

    The Personal Accounts Delivery Authority has the job of implementing the simple, high-quality, low-cost pension system starting in 2012. This includes advising the Department for Work and Pensions on scheme design, including the best charging structure. It has published a discussion paper which puts forward its initial evaluation of various methods of charging. The consultation period ends on April 22.

  • Suffolk demands equal cash rules across Sipps

    13 Mar 2008

    Suffolk Life is calling for the Government to amend capital-adequacy requirements for the self-investment of protected rights to ensure there is a level playing field between insurance and trust-based Sipps.

  • Supermarkets set up collection points for last-minute Isas

    13 Mar 2008

    Cofunds and Fidelity FundsNetwork are joining forces to arrange for last-minute collection of Isa applications.

  • Surprise as VCTs are exempted from VAT

    13 Mar 2008

    Chancellor Alistair Darling has sprung a surprise on the venture capital trust market by announcing that they will be exempt from VAT on management fees from October 2008.

  • Surveyors see first fall from landlords

    13 Mar 2008

    The Royal Institution of Chartered Surveyors has seen a decline in new landlord instructions for the first time in the history of the survey which started in 1998.

  • Switch to commodities from equities boosts Insight funds

    13 Mar 2008

    Exposure to commodities and a lower allocation to equities have helped Insight Investment's diversified total return and diversified high-income funds weather the storm of recent volatility.

  • Take charge of your future

    13 Mar 2008

    I have been asked if I want to join my company's stakeholder-charged group personal pension into which my employer will pay 5 per cent of my earnings if I contribute the same or more. I already have many other pensions. What should I do?

  • Take stock for Isa performance

    13 Mar 2008

    More than £123bn held in cash Isa funds will be eligible for transfer into stocks and shares Isas when new rules take effect in April.

  • Tax-free cash for Ken if he loses battle to be mayor

    13 Mar 2008

    London mayor Ken Livingstone could benefit from the Budget if he loses the mayoral election to Boris Johnson due to Chancellor Alis- tair Darling’s introduction of a tax exemption.

  • TECHNICAL CONNECTION BUDGET COMMENTARY

    13 Mar 2008

    The Chancellor confirmed the reduction in the rate of capital gains tax to a flat 18 per cent but sees no need to change taxation of life insurance bonds.

  • The Exchange launches call centre back office software with Click Group

    14 Mar 2008

    E-commerce services provider The Exchange has launched a new call centre back office system. The technology is now live with independent secured loans and life cover specialist Click Group.

  • The greenhouse effect

    13 Mar 2008

    It has not always been cool to be green. Most fund firms used to scoff at green investing. There used to be just a smattering of funds for the ethically conscious investor but now we have more than 50.

  • The rating game

    13 Mar 2008

    Conflicts of interest at rating agencies need to be addressed in the aftermath of the Northern Rock debacle, says a senior member of the Treasury select committee.

  • Time to share and share alike

    13 Mar 2008

    The disappearance of the 100 per cent plus mortgage market means shared equity schemes are an even more important option for first-time buyers.

  • Trivial boost only for occupational plans

    13 Mar 2008

    Pension providers are warning that Budget changes to trivial commutation rules may create an uneven playing field between occupational pension schemes and other types of pension.

  • Unanswered questions

    13 Mar 2008

    When I first started out as a freelance journalist, a friend whom I had once helped with certain financial issues said I should add financial coaching to my business repertoire.

  • Understand and deliver

    13 Mar 2008

    The Thoresen report makes a compelling case for a fresh approach to helping consumers get a better understanding of their financial affairs. The Treasury chose a industry practitioner to lead the work and the output shows a far greater grasp of reality than so many previous studies.

  • Veteran fund manager Nils Taube dies

    13 Mar 2008

    Britain’s longest serving fund manager Nils Taube has passed away at the age of 79.

  • Watson Wyatt says 70% of IFAs prefer variable annuities

    17 Mar 2008

    Seventy per cent of advisers rate variable annuities more favourably than conventional annuities for generating income in retirement according to Watson Wyatt.

  • Wave to withdraw 85% LTV products

    18 Mar 2008

    Wave will no longer be offering mortgage products at 85 per cent loan to value.In an email to brokers, the Merrill Lynch subsidiary says that with effect from tomorrow the 85 per cent LTV band will be removed across its entire product range.It says decisions in principle will be accepted on withdrawn rates until close of business on 18 March.

  • Whiteoak uproots

    13 Mar 2008

    Last week saw the end of Roger Whiteoak's eight-year relationship with Axa Framlington as the much respected UK small-cap manager left to pursue other opportunities in the industry.

  • Yousefi backing for equity loan scheme

    13 Mar 2008

    Mortgage guru Mehrdad Yousefi has welcomed the Government's new shared equity scheme which offers borrowers an equity loan of up to 50 per cent.

  • Zurich launches portfolio planner

    13 Mar 2008

    Zurich has launched a web-based portfolio planner to allow financial advisers to build and manage client investment and pension portfolios.

  • Zurich warning of inappropriate advice following CGT changes

    14 Mar 2008

    Zurich says it has grave concerns that there is a risk of inappropriate advice being given to consumers following Chancellor Alistair Darling's clarification of the capital gains tax changes.

Poll

Should the MPC have increased QE this week?

Current Issue

Advanced search