13 February 2008
Black and White Group's decision to pull out of the regulated mortgage market and put that part of the business into administration has met with surprise in the homeloan industry.
More than half of advisers would invest their own money in the latest tranche of climate change vehicles research from Virgin Money has shown.
The Association of Investment Companies is urging the FSA to introduce a general disclosure regime to force full disclosure of companies’ use of Contract for Difference.
The Association of Independent Financial Advisers has denied any talks of a merger with the British Insurance Brokers’ Association following press reports that the two bodies are in discussions.
Whenever you hear a politician defending a proposal that has come under heavy fire, one of the most common responses is to point out that it is not only unpopular with the opposition but with the so-called extremists on his or her own side too.
As rock band Queen sung in 1980 with the release of “Another One Bites the Dust”, the song can now - 28 years later - aptly apply to the UK mortgage market.
Following Friends Provident’s move into the business protection market after its reshuffle last month, Bright Grey is the latest to give it a whirl.
In April, at the start of the 2008/09 tax year, new legislation comes into force which will allow cash Isa savers transfer their money into equity Isas, without losing their taxexempt status or affecting that year's Isa allowance.
Catalyst Investment GroupCatalyst Stargate EIS Green Fund
We are seeing a very strange argument developing between pension providers and Pada, the new personal accounts delivery authority.
Acquisitions are aplenty at the moment, with the latest, having been on the cards for some time, being the long-awaited purchase of Burns-Anderson.
Commentators are already predicting that this year will fall into two distinct trading periods. The tougher market conditions we are seeing will continue well into the summer despite the recent bank base rate cuts.
Greater choice has become the expectation in everything we buy but too much choice can confuse us to the extent that it destroys our ability to make decisions. Tax wrappers are no different. When it comes to self-invested personal pensions and Isas, the investor has never had it so good.
Cru Investment ManagementAfrica Invest Capital Protected Plan
Purchasing and supply managers are responsible for ensuring the businesses in which they work are adequately tooled up for expected conditions. When they start to rein back in anticipation of tougher conditions ahead, then it is not unreasonable to expect economic contraction. The non-manufacturing ISM Index result suggested the US economy had hit the buffers.
The derivative-based strategy of Dawnay Day Quantum's UK absolute income fund is attracting interest from multi-managers with multi-asset portfolios.
The equity income sector must be hellish for fund management firms to make their mark. It is full to the brim with experienced fund managers but if your name is not Woodford, Frost, Nutt or Luckraft, it is difficult to get a look in, no matter how good you are.
When I left actuarial consulting for fixed-income investment, my colleagues were surprised that I was choosing to work in the boring asset class. Yes, these were actuaries talking. People who live in glass house...
Fidelity FundsNetworkFIL FundsNetwork PortfolioManager: Adventurous
Fidelity FundsNetworkFIL FundsNetwork PortfolioManager: Aggressive
Fidelity FundsNetworkFIL FundsNetwork PortfolioManager: Balanced
Fidelity FundsNetworkFIL FundsNetwork PortfolioManager: Cautious
Fidelity FundsNetworkFIL FundsNetwork PortfolioManager: Defensive
The FSA has published a consultation paper proposing the introduction of a single disclosure document to combine the information contained in the menu and initial disclosure document.
FSA financial crime and intelligence division director Philip Robinson has told the CML mortgage fraud seminar today that a third of 200 cases referred from lenders have gone forward for enforcement action.
Gartmore's multi-manager team are holding on to the only UK commercial property fund in their portfolios after it suffered in the recent sell-off.
The end of the tax year is always going to be a busy time for advisers as there are many opportunities to consider and this year more than ever has huge significance for pensions.
The latest Spot the Dog list and Principal Investment Management White List have made sure everyone is aware of who the stars and the duffers are in terms of long-term performance.
Invesco PerpetualEuropean Equity Income Fund
M&G managing director of UK sales Jonathan Willcocks got his first taste of financial services in the booming 1980s during a break from his medical studies.
A County Court judge has ruled the Financial Ombudsman Service is wrong to charge an adviser a case fee when the case is rejected by the FOS.
Do brokers and advisers believe that what is needed in the mortgage market today are generous income multiples as high as seven and even higher on fast-track loans?
Keydata Investment ServicesExtra Income Plan 17
In my last IFA View of 2007, I penned a list of wishes for the new year. I am now looking back at the list with feelings ranging from mild shock to some amusement.
This year is undoubtedly going to be a more difficult channel to navigate than we have experienced recently. Economic activity is slowing and even the die-hard optimists acknowledge that the global economy will do well to pull through this phase without dipping into recession. Emergency interest rate cuts by the Federal Reserve and a fiscal stimulus package merely serve to underline concerns for its domestic economy. Evidence of a slowdown in activity in some emerging markets, albeit from ...
February and March are key months to consider tax planning to maximise the use of an individual's allowances, reliefs, exemptions, etc. for the current tax year. Some of these will be lost if not used before the year-end.
A new client has come into a large sum of money. She has never before had the need for financial advice. What is the best approach to someone in this position?
This week's surprise announcement of the proposed merger of iimia MitonOptimal and Midas Capital will forge what the groups claim will be the biggest multi-asset offering in the market at £2.9bn.
Banks have been the watchword of the week with the Bank of England’s dour warning on the outlook for the economy and Bradford and Bingley’s worse than expected writedowns rubbing out the FTSE 100’s gains earlier in the week.
Money Portal has made an offer to acquire 100 per cent of the share capital of Burns-Anderson for around £14m.
Within minutes of the Bank of England monetary policy committee cutting base rate by 0.25 per cent last Thursday, the first lenders had announced reductions in their standard variable rates and, by the end of the day, nine lenders, including some of the biggest, had passed on the full rate cut to borrowers.
PSigma income manager Bill Mott believes that domestic stocks are set for a turnaround and says that current ratings represent a once in a decade opportunity.
Intrinsic Financial Services has bought Mint Financial Services in a deal completed today.
The Government is to introduce emergency legislation today to nationalise Northern Rock after abandoning plans to sell to a private buyer.
The Financial Ombudsman Service was left red-faced last week after a County Court judge ruled that it is wrong to charge an adviser a case fee for a rejected case.
Conservative Shadow Chancellor George Osborne said today that, under a Tory Government, the Treasury would be required to publish technical changes to the tax system in the autumn before the Budget.
Parmenion Capital Partners is to work in tandem with SimplyBiz in a deal that will allow advisers to invest in the outsourced investment platform.
Maintaining consumer confidence is pivotal to the success of any industry so it is extremely important to find answers to questions such as how to ensure consumers believe in the industry enough to buy the product and how to reassure them that what they are buying will be there when they need it most.
The FSA's proposals for primary advice are the latest attempt to strike the right balance between customer access and appropriate financial outcomes. Could the approach suggested in the retail distribution review achieve this or will it fail to make the hoped for impact?
New Star's multi-manager team are attributing the outperformance of their active portfolio to its ability to invest in a range of asset classes and markets while measuring downside risk in every position it takes.
New Star’s marketing director Rob Page has resigned from the firm.
Nationalising Northern Rock will breach EU competition law, says a leading City law firm.
Scarborough Building SocietyFlexible Two-Year Fix
My all-time favourite UK fund manager is Nigel Thomas, who runs the Axa Framlington UK select opportunities fund. I have been recommending his various funds for over 20 years. He joined Axa just over five years ago from ABN Amro and has since grown the UK select opportunities fund by 141.5 per cent to December 31, 2007, being placed 13th out of 226 funds in the sector and beating the average fund by over 50 percentage points.
Shore CapitalPuma Venture Capital Trust V and VI
If you had read the headlines about the investment fund industry's sales for December, you would be forgiven for thinking that everything was doom and gloom and that investors were selling up hand over fist. Not so.
Cynics have branded the Government's announcement of a study into the impact of means-testing on personal accounts a way of sidelining the issue until the Pensions Bill is passed through.
The number of UK surveyors reporting house price falls grew for the sixth consecutive month in January, RICS UK housing market survey has revealed.
Last week, I continued my look at corporate investment in the light of the extension of the loan relationship rules to all investment life policies.
Falling interest rates have increased the appeal of income-producing products while falling stockmarkets have boosted the attractions of downside protection. This combination has led to a re-emergence in the popularity of structured products but overhanging this trend is the spectre of the late 1990s and precipice bonds.
New Isa regulations are due to come into force on April 6. One effect of the changes is that it will be possible for Tessa-only Isas to be transferred into stocks and shares Isas without affecting the annual Isa allowance.
Identifying ways that as an industry we can deliver advice to those who cannot afford to pay for it must represent both the greatest challenge and the greatest opportunity for our industry.
Conservative leader David Cameron has called for Alistair Darling to be sacked after his handling of the Northern Rock disaster and decision to nationalise the stricken bank.
An unauthorised stockbroker has been sentenced to 15 months imprisonment for offences of dishonesty including theft, following a prosecution brought by the FSA.
Many readers may be wondering what all the fuss is about. After all, surely only bad apples end up dealing with the FOS? As these readers always work in clients' best interests, they may believe it is never going to happen to them. Well, no, that is wrong, actually.
Give a dog a bad name, as Shakespeare makes Cassio say (well, sort of) in Othello, is an old saying that has been borne out many times over the years.
It’s as safe as the Bank of England! What a thing to be able to say to a prospective saver.
The appeal of cash is understandable for investors with income needs but a portfolio of high-dividend stocks can provide an income stream almost comparable with cash, as well as offering added opportunities for capital growth over time.