Money Marketing
12 November 2009

  • A question of charges

    12 November 2009

    It is hard to argue with Nick Bamford’s position that a combination of experience, higher qualifications and applied skill is, or at least should be, what makes a premier league IFA.

  • A small price to pay

    13 Nov 2009

    Dennis Hall says Aifa’s new academy made him join the trade body for the first time.

  • ABI picks Australian lawyer for top job

    12 November 2009

  • Adviser fears over Swip bonus ban

    11 Nov 2009

    Concern expressed over Swip’s ability to retain and recruit talented fund managers.

  • Adviser Fund Index

    12 Nov 2009

    So, the November rebalancing is upon us. Given the recent rollercoaster ride that they have at times enjoyed and at others endured in global stockmarkets, significant changes to the aggressive portfolios might well have been expected.

  • Aegon backs referrals for investment advisers

    13 Nov 2009

    Provider says advisers should not have to cover all investment areas as long as they can refer to others within their firm.

  • Aegon wants level rules for platforms

    12 November 2009

    Aegon has called for platforms to be subject to the same regulatory constraints as product providers. In its response to the RDR consultation, it also calls for higher capital adequacy requirements in the platform area.

  • Aifa should grasp great opportunity

    12 November 2009

    I was appalled at Chris Cummings’ stance over the retail distribution review. It shows that Aifa has no interest in improving the standard of the profession.

  • Aifa warns about cap-ad impact on the networks

    12 November 2009

    Aifa is warning that any changes to the new capital adequacy rules on expenditure-based requirements must not hit networks unfairly.

  • Aifa's tougher line on RDR wins support

    12 Nov 2009

    Trade body receives over 100 letters of support.

  • An invitation from the FSA

    11 Nov 2009

    “Chris Cummings once used the analogy that I like to kick down doors whereas he sneaks through them when nobody is looking.”

  • Andrew Fisher hits back in trail commission row

    16 Nov 2009

    Towry chief says advisers who take trail commission to service the client are breaching TCF.

  • Auditor has concerns over Mortgage Times

    12 November 2009

    Independent auditors of The Mortgage Times Group have raised concerns about the group’s future after it posted an operating loss of £1.3m for 2008.

  • Aviva and L&G see falls in sales via advisers

    12 November 2009

  • Axial comes under Ignis branding

    12 November 2009

    Axial Investment Management has rebranded under the Ignis Asset Management banner, completing the merger of the two businesses.

  • Bankers at bay

    13 Nov 2009

    Gerry O’Brien asks if Michael Moore’s new documentary will be able to do enough to expose the banking sector’s greed.

  • Banks setting up structured association

    12 Nov 2009

    Banks look to create a “single voice” for the structured products industry.

  • Breaking the banks

    13 Nov 2009

    Splitting up parts of Lloyds and RBS have been welcomed by mutuals and brokers who look forward to increased competition. Christopher Jarvis reports

  • Commercial property revival could be 'wrong sort of recovery'

    12 November 2009

    HSBC Global Asset Management’s head of multi-manager Guy Morrell is warning that the recent recovery in commercial property may be unsustainable.

  • Course for complaint

    12 Nov 2009

    Peter Hamilton is a barrister specialising in financial services at 4 Pump Court

  • 'CPD with teeth' could be alternative to exam

    12 November 2009

    The FSA should offer existing advisers a robust CPD alternative to minimum QCF level four qualifications, according to Threesixty.

  • Crouching tiger

    13 Nov 2009

    Forecasts may be modest in the near term but the longer-term growth story for the Asia Pacific region looks positive

  • Don't add banks to our levy

    13 Nov 2009

    “I strongly believe advisers should be able to add a reasonable complaint deadline into client contracts. It happens in other industries, so why not financial services?”

  • Euro sceptics

    13 Nov 2009

    Kira Nickerson explains why Europe remains unloved by investors despite its strong performance.

  • Experienced IFAs brutally culled

    12 November 2009

    Well said and well done, Chris Cummings. I am a member of both Aifa and the IFP and am taking addit- ional qualifications at age 59 at a diff- icult time for my small business.

  • Faith and fortune

    13 Nov 2009

    “I came away with the distinct impression that yet more change is to be expected in the investment management space. How appropriate, with RDR looming.”

  • Fidelity Intl calls for full platform transparency

    13 Nov 2009

    Peter Hicks says all commercial considerations involved in guided architecture or packaged product lists need to be disclosed.

  • Finding default

    13 Nov 2009

    “Over the course of the last - or lost - decade, pension fund managers have not covered themselves in glory with their default options.”

  • FSA break-up could see turf war

    12 November 2009

    The FSA admits that reform of its conduct supervision is needed but warns that “a turf war” could break out if its enforcement activity is separated out among different bodies.

  • FSA fees set to plunge for IFAs

    12 November 2009

    The FSA is consulting on planned changes to its fee structure that will see minimum fees for IFAs nearly halve from £1,850 to £1,000. Variable fees fall for 56 per cent of advisers and only rise for 1 per cent and there is an easing of levies for firms that operate across fee blocks.

  • FSA swoops on firms in boiler room fraud probe

    12 November 2009

    The FSA has taken action against two individuals and seven businesses suspected of being involved in boiler room share fraud activity.

  • GLG set to offer five absolute funds in UK

    12 Nov 2009

    Firm to take advantage of new reporting rules to open funds up to the UK market.

  • High Opes

    13 Nov 2009

    This week James Smith covers the fortunes of Opes Management.

  • Hornbuckle Mitchell sells IFA arm to RSM

    12 November 2009

    RSM Bentley Jennison Financial Management has bought the IFA arm of Sipp provider Hornbuckle Mitchell, its third acquisition this year.RSM has acquired the IFA division for an undisclosed sum.

  • How to get from A to B

    12 Nov 2009

    “The plan B for personal accounts is sketchy.”

  • HSBC may be bidder in bank sell-off

    12 November 2009

    HSBC says it may bid for some of the assets that state-aided Lloyds Banking Group and Royal Bank of Scotland will have to sell. 

  • IMA sector changes

    12 November 2009

    The Investment Management Association has changed the name of the protected/guaranteed sector to the protected sector and revised its definition. The new sector will be flagged under two headings - capital protection at maturity and protection/ floor funds from December 1.

  • Intelliflo working on re-reg solution

    13 Nov 2009

    Software provider working with four platforms on seven different areas.

  • James Edgedale

    12 Nov 2009

    The chairman of JM Finn & Co believes in a sense of traditional business values and is looking to help overstretched IFAs meet the demands of the RDR. Interview by Gregor Watt

  • Jubilee axes plan

    12 November 2009

    Jubilee Financial Products has cancelled the early redemption plan issue 4 due to compliance issues with new FSA guidelines. It will refund client money immediately and will launch a replacement as soon as possible.

  • Keydata declared in default by FSCS

    13 Nov 2009

    FSCS confirms Keydata is in default and it will consider compensation claims.

  • L&G protection discount deal

    12 Nov 2009

    Legal & General has introduced a discount facility for policyholders with more than one protection product.

  • Langridge guides global fund for Lloyd George

    12 November 2009

    Lloyd George Management has launched a global emerging markets fund for Kathryn Langridge.

  • Lehman clause threat to IFAs

    12 Nov 2009

    Advisers could face multi-million-pound claims due to exclusions in PII policies.

  • Metlife warns Pada on target-date funds

    13 Nov 2009

    Pada warned to avoid the mistakes of US target-date funds when drawing up personal accounts default.

  • MM Leader: Clarity call for capital changes

    12 Nov 2009

    Over two years after publishing its first paper on prudential rule changes, there are still a number of important areas the FSA has yet to clear up.

  • Mott predicts anaemic growth and end to rally

    12 November 2009

    PSigma income manager Bill Mott has warned that the UK market rally is set to end after going “too far, too quickly”.

  • MPs in glass houses

    12 November 2009

    I refer to the recent interview in Money Marketing with John McFall, MP.

  • Myners and IMA in contrarian clash

    12 November 2009

    The Investment Management Association has hit back at Lord Myners’ claims that there is an absence of a contrarian voice in the fund management industry.

  • Myners will oppose moves to hand EU bank bailout power

    12 November 2009

    City minister Lord Myners is concerned that the EU could force the UK to bail out banks in the event of a future financial crisis and intends to lobby against such powers being introduced.

  • Nationals accused of RDR scare tactics

    13 Nov 2009

    David Harrison warns networks and nationals are using the RDR as a scare tactic to get advisers to join.

  • Norris for Argonaut UK recovery fund launch

    12 Nov 2009

    Ignis looks to Argonaut UK launch.

  • Only two left in Pada tender

    12 November 2009

    The Personal Accounts Delivery Authority has confirmed that Logica UK has withdrawn from the bidding process to administer personal accounts, leaving only two bidders, Tata Consultancy Services and a team including Great West Retirement Services and Canada Life. Danish admin firm ATP withdrew in October.

  • Open up the annuity choice

    13 Nov 2009

    In the second part of a four-part series surveying the retirement market, Annie Shaw considers the wide range of annuity options that are available to investors

  • Out of context

    12 Nov 2009

    “Is it just the boys taking part?”

  • Oxigen sets up forestry land fund

    12 Nov 2009

    New fund would buy forestry and agroforestry land across Brazil and Malaysia.

  • Partnership seeks LTC tied deals

    13 Nov 2009

    Provider would “bite the hand off” banks offering distribution arrangements.

  • Pifs that can't get full PI must hold more cash

    12 November 2009

    Personal investment firms that cannot get comprehensive professional indemnity insurance will have to hold significantly higher capital under the regulator’s new prudential rules.

  • Practice makes perfect

    13 Nov 2009

    Advisers have a key role to play in helping employers put complicated pension reform into practice in 2012

  • Protest in prospect from 60% already studying

    12 November 2009

    Aviva is warning that Aifa may face a backlash from advisers already working towards QCF level four.

  • Pru adds cautious fund to flexible plan

    12 November 2009

    Prudential has added the Pru Fund cautious series to its flex- ible retirement plan and is offering pension savers a five-year capital guarantee.The company launched the cautious fund, to sit alongside Pru Fund growth, in July for risk-averse investors worried about moving back into equities.

  • Pru Protect in online protection deal

    12 November 2009

    Pru Protect is offering an online-only protection product for advisers.

  • QE boosted to £200bn

    12 November 2009

    The Bank of England increased its quantitative easing programme by £25bn to £200bn, which goes beyond Chancellor Alistair Darling’s authorised threshold for the scheme.

  • Recruiters want single date to auto-enrol

    12 November 2009

    The Recruitment and Employment Confederation is calling for the Government to set a common date for all agency workers to be auto-enrolled into a qualifying pension scheme or risk distorting the recruitment market.

  • Regulator hits UBS with huge fine for rogue trading

    12 November 2009

    The regulator has fined UBS £8m for system and control failures that allowed four employees to carry out unauthorised transactions involving customer money on at least 39 accounts.

  • Road to recovery

    13 Nov 2009

    Talk of a full UK economic recovery is premature and while opportunities are certainly starting to emerge, says Dawn Kendall, head of investment strategy and product development at Architas Multi-Manager, investors must be prepared for a long haul

  • Rock could become a mutual again

    12 November 2009

  • Schroders calls for focus on post-retirement area

    13 Nov 2009

    Call for the asset management industry to develop more products for the post-retirement sector.

  • Schroders' Lynch sees 10-15% fallback

    13 Nov 2009

    European equity fund manager predicts fallback early next year.

  • Size of the matter

    13 Nov 2009

    Lee Jones reports that dealing with smaller pension pots is uneconomical for many IFAs and policyholders are losing out on the best deals but there are business developments that could change the situation

  • Skandia backs plan but ABI points to role in raising trust

    12 November 2009

    Skandia has thrown its support behind the Association of Independent Financial Advisers’ calls for the FSA to drop its higher-qualification requirements for existing advisers under the RDR.

  • Skandia denies that cutbacks mean sale

    12 November 2009

    Old Mutual has denied that cutbacks in Skandia’s IFA support is a precursor to a sale.

  • Small firms face pension problems

    12 November 2009

    Small and medium-sized enterprises will face increased costs and a higher burden of administration due to the Government’s pension reforms, warns the Association of Chartered Certified Accountants.

  • Spicerhaart FS joins Sesame

    12 November 2009

    The financial services arm of property group Spicerhaart is to join Sesame.

  • Standard considers unbundling FundZone

    12 Nov 2009

    Standard Life looks at unbundling its charging structure as part of a review of its FundZone platform.

  • Standards rising around the world

    12 Nov 2009

    “At the moment, the UK is assuming that all advisers do the same job, which is clearly not the case”

  • Supermarket sweep

    12 Nov 2009

    Bill Vasilieff warns that certain platforms will become extinct or will have to evolve pretty quickly to survive.

  • Taking stock

    13 Nov 2009

    The panel considers where the markets are headed, the reaction to the Government’s latest restructuring of high-street banks and assess what role structured products and ethical investments will play in future

  • The 60% tax trap

    13 Nov 2009

    Adjusted net income is a key phrase to get used to in the battle to keep out of the 60% tax zone

  • The enjoyment factor

    13 Nov 2009

    Should a client who was recently made redundant take his pensions two years early or wait until 65?

  • The glue that binds client ownership

    12 Nov 2009

    “Who owns the client? Is it the adviser, is it the firm or is the client a free agent, with loyalty the only real glue?”

  • The shape of swings to come

    12 Nov 2009

    Hannah Stodell reports that fund managers are split on the strength or otherwise of the market rally

  • Tobin tax retreat

    12 November 2009

    Prime Minister Gordon Brown has backtracked on his proposals for a Tobin tax after widespread international criticism of the plan.

  • Tories to look at basic DB plus DC

    12 Nov 2009

    Tories looking at hybrids to find a way to share the risk between employers and employees.

  • Towry gets £6m a year trail cash for legacy business

    12 November 2009

    Towry Law takes up to £6m annually in legacy trail commission for 300,000 clients who no longer receive ongoing advice from the firm.

  • Tunks bolsters Swip fixed-income team

    12 November 2009

    Scottish Widows Investment Partnership has appointed Andrew Tunks as interim director of fixed income.

  • Welfare state

    12 Nov 2009

    Phil Jeynes takes a look at protection’s role in welfare reform.

  • Words of disdain

    12 November 2009

    I read Robert Reid’s article headlined, Moan Rangers, (Money Marketing last week) and was shocked at the disdain he showed about the comment made to him from one network chief.

  • Work experience

    13 Nov 2009

    “Is this just a brief correction and the chance to buy cheaply that so many have been waiting for? Or the start of a more prolonged slump?”

  • Wynne-Jones joins Cofunds

    12 November 2009

    Cofunds has appointed Assureweb director of product marketing Stephen Wynne-Jones as head of marketing operations.

  • Zurich presses for regulatory dividends for higher standards

    12 November 2009

    Industry reaction to Aifa’s call to scrap the RDR’s QCF level four requirements for existing advisers

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