Money Marketing
14 February 2007

  • FOS to publish 13 test cases on splits

    15 Feb 2007

    The Financial Ombudsman Service is to publish 13 test cases regarding the split-cap scandal, with nine set to be found against the stockbroker firms involved and bills potentially reaching 40m. Firms have 28 days to respond.

  • PruPim setting up Asia property fund

    15 Feb 2007

    PruPim, the property investment arm of Prudential, has teamed up with La Salle Investment Management to launch an Asia property portfolio.

  • Wrong addresses for 26k pension letters

    15 Feb 2007

    The Department for Work and Pensions has sent up to 26,000 letters containing pension account numbers and National Insurance details to the wrong addresses. Pensioners affected by the mix-up have raised fears that they could be targeted by identity fraudsters.

  • 100M in lending for Shariah firm

    15 Feb 2007

    Shariah-compliant financial services specialist Alburaq has approved over 100m-worth of mortgage business and expects the Islamic mortgage market to grow to over 1bn by 2009.

  • 75 per cent opt to remain contracted out after L&G mailing

    20 Feb 2007

    Latest results from Legal & General’s mailing to contracted out customers show that 75 per cent have specifically chosen to remain contracted out of the State Second Pension.

  • A passage to Chindia

    15 Feb 2007

    Investors in a fund combining China and India could be in for a rollercoaster ride, says Helen Pow.

  • A question of ethics for RLAM

    16 Feb 2007

    Royal London Asset Management has added the Ethical Bond Trust to its fixed income fund range.

  • Abbey - Capital Guaranteed UK Equity Bond Issue 6

    14 Feb 2007

    AbbeyCapital Guaranteed UK Equity Bond Issue 6

  • Abbey reviewing exit fee after FSA statement

    15 Feb 2007

    Abbey may be forced to overhaul its mortgage exit fee policy amid concerns that its charge is likely to fall foul of the FSA's new code.

  • Adam Samuel

    15 Feb 2007

    This compliance consultant was an ombudsman for the regulator before he turned to the other side of training financial companies in handling complaints and fighting against unjust decisions. Interview by Paul McMillan.

  • Adept adaptations

    15 Feb 2007

    In recent weeks, we have seen an excellent example of common sense break out in the market.

  • Adviser Fund Index

    15 Feb 2007

    The Aggressive Adviser Fund Index has performed well since inception on November 1, 2004 with a total return of 54.4 per cent to February 5, 2007. This corresponds to an annualised return of 21.2 per cent, according to Financial Express.

  • Allocation is key

    15 Feb 2007

    Managers are often justifiably criticised for making investment too complicated. Nowhere is this more valid than in the area of geographic allocation within global equity funds.

  • Altmann warns that pension stance has implications for all ombudsmen

    15 Feb 2007

    Pension campaigner Ros Altmann says the Government's decision to ignore the Parliamentary Ombudsman's damning report into its treatment of pensioners who lost their final-salary schemes calls into question the entire ombudsman system in the UK.

  • Are you being served?

    15 Feb 2007

    Advisers have responded to criticism over selling high-commission products but, asks Kira Nickerson, isn't it time that product providers started to focus seriously on their service to advisers??

  • Asfof you like it

    15 Feb 2007

    Start advising your clients to let an expert choose their funds.

  • Aubrey Capital Management - S&W Aubrey Global Conviction Fund

    15 Feb 2007

    Aubrey Capital ManagementS&W Aubrey Global Conviction Fund

  • AWD Chase de Vere takes 500 new Exweb licenses

    20 Feb 2007

    AWD Chase de Vere has taken 500 new licenses for its Exweb portal.

  • Axa Framlington - Axa Talents Fund

    15 Feb 2007

    Axa FramlingtonAxa Talents Fund

  • B-A to use Aequos Engage

    19 Feb 2007

    Burns-Anderson has agreed to use Defaqtos Aequos Engage as its preferred product search engine.

  • Baigrie puts focus on Lifesearch

    15 Feb 2007

    Baigrie Davies has appointed head of financial planning Ian Howe to take over managing director Tom Baigrie's role to allow Baigrie to focus more on Lifesearch. Baigrie will continue to oversee Baigrie Davies and the adviser firm will also be launching a wrap platform with Standard Life.

  • Bankhall in two-pronged wrap strategy

    15 Feb 2007

    Bankhall has finalised its wrap strategy in a move that will see it link up with Capita and Goldman Sachs.

  • Barclays sees huge rise in lending as profits soar

    20 Feb 2007

    Barclays witnessed a massive jump in mortgage lending last year to make up for a disappointing 2005.

  • Bee petitions Government to make NPSS guarantee or scrap auto-enrolment

    20 Feb 2007

    Scottish Life has launched a petition calling on the Government to drop its proposal for auto-enrolment into Personal Accounts unless it guarantees that every pound saved in the scheme will make savers at least one pound better off than non-savers.

  • Bee points to opportunity in pension upheaval

    15 Feb 2007

    The UK Shareholders' Association has joined the Association of Investment Companies and leading advisers in warning that FSA plans to relax listing rules could result in a "disaster" matching the split-cap debacle.

  • Biba brings out own range

    15 Feb 2007

    The British Insurance Brokers' Association is introducing loan, income and mortgage payment protection products through a tie up with British Insurance.

  • Body and soul

    15 Feb 2007

    I would hate to be in Chris Cummings' shoes right now.

  • Boost for B&B as lending rises 43%

    15 Feb 2007

    Bradford & Bingley's gross mortgage lending rose by 43 per cent last year, more than twice the market average. The group saw its underlying profits rise by 8 per cent to 336.1m.

  • Boyd joins Fidelity

    19 Feb 2007

    Brian Boyd has joined Fidelity International’s multi-manager business as business development director.Boyd was formerly director of global product management for HSBC’s multi-manager business and before that general manager of the Bank of Bermuda’s global mutual fund business.Fidelity International Multi-Manager Business managing director Simon Ellis says: “Fidelity is very serious about its intention to grow a significant multi-manager business, and to do this we need the right ...

  • Bright Grey to use Medicals Direct Trackberry system

    19 Feb 2007

    Bright Grey has taken up Medicals Direct’s new Trackberry service, which is designed to speed up the underwriting process for those with more complex medical histories.

  • Broker Talkback

    15 Feb 2007

    Is the FSA justified in increasing IFAs' fees to pay for retraining its staff on principle-based regulation?

  • Cattle drive

    15 Feb 2007

    Those crazy folk at Kensington Mortgage Company have done their fair share of odd stunts but they may have surpassed themselves last week.

  • Cavendish aims to raise release confidence with Rantzen backing

    15 Feb 2007

    Esther Rantzen is to feature in an equity-release campaign from rebranded broker Cavendish Equity Release in a bid to give the product a much needed publicity boost.

  • Change of image

    15 Feb 2007

    Historically, private client stockbrokers have provided specialist investment services to wealthy individuals while IFAs have made general financial planning services available to the mass market. Although stockbrokers have long been perceived as part of the professional elite alongside solicitors and accountants who charge fees for their services, IFAs have struggled to shake off their image as salespeople selling the provider products for the highest commission.

  • Chasers move to offering advice

    15 Feb 2007

    Claim companies are extending their scope.

  • Child care at a price

    15 Feb 2007

    Nic Cicutti writes an interesting article on child trust funds. I can help him out on his query as to why IFA advice seems low on these products.

  • CII targeting loan advisers

    15 Feb 2007

    The Chartered Insurance Institute plans to add mortgages to its list of expertise after revealing a £1m investment in the sector.

  • Cirencester goes a la carte

    15 Feb 2007

    Income protection specialist Cirencester Friendly Society’s income assured plan is an individual income protection plan available on a pure protection basis or with an investment element.

  • Clamour grows at FSA plans to ease listing rules

    14 Feb 2007

    The UK Shareholders' Association has joined the Association of Investment Companies and leading advisers in warning that FSA plans to relax listing rules could result in a "disaster" matching the split-cap debacle.

  • Clerical closes to new group pensions business

    15 Feb 2007

    Clerical Medical has closed to new group pensions business, blaming tightening margins and lack of profitability in the sector.

  • Close sets up team to handle IHT-mitigation business

    15 Feb 2007

    Close Investments has set up a dedicated team to handle adviser demand for Isle of Man Assurance's property wealth manager plan.

  • CML reveals a good start to 2007 lending

    20 Feb 2007

    Gross lending hit an all-time January high of £26.8bn, according to the Council of Mortgage Lenders.

  • Coining it in

    15 Feb 2007

    Investments in gold, silver and bronze coins have been one of the best long-term investments.

  • Concerns rise at leap in interest-only loans

    15 Feb 2007

    The interest-only mortgage crisis is deepening, with a 33 per cent leap in the number of borrowers with an interest-only loan but no specified repayment vehicle.

  • Co-op ethical fund is the first to head all-company sector

    15 Feb 2007

    An ethical fund has topped the UK all companies sector for the first time, as Investment Management Association statistics show the ethical investment market is set to break through the £5bn barrier.

  • Correspondent's Week

    15 Feb 2007

    This week by Money Marketing intern Sarah Hall.

  • Deal sees society link up with L&G

    15 Feb 2007

    Nationwide Building Society and Legal & General have entered into a distribution deal that will mean Nationwide selling L&G's life, investment and pension products.

  • Direct Life sets up academy to boost protection sector

    15 Feb 2007

    Sales director Verdin says training is only way to close protection gap.

  • Downing C benefit of Electra share offer

    15 Feb 2007

    Downing Corporate Finance is looking to raise up to £20m in C shares for the generalist Electra Kingsway venture capital trust.

  • Equitable transfers annuity business

    15 Feb 2007

    Equitable Life has completed the transfer of the bulk of its non-profit pension annuity business, comprising around 130,000 policies worth £4.61bn, to Canada Life. This is the biggest transfer of a non-profit annuity portfolio in the UK.

  • Equity release given boost by CII

    15 Feb 2007

    A new Certificate in equity release from the Chartered Insurance Institute has been accredited by the examinations regulator the Qualifications & Curriculum Authority. It is designed to help advisers and brokers meet the new regulatory requirements for lifetime mortgages and home reversions.

  • Exemption essential for advocate

    15 Feb 2007

    Money Marketing recently reported concerns about granting regulatory exemption for the policyholder advocate so they can give financial advice. Such an exemption is essential if a policyholder advocate is to do her or his job properly.

  • Ex-Schroder trio launch funds for new firm

    15 Feb 2007

    Former Schroder staff Chris Rodgers, Ted Williams and Tom Carroll are to set up a trio of UK-based vehicles for new boutique Four Capital Partners.

  • Extra, extra, read all about IHT

    15 Feb 2007

    Newspaper campaigns are helping to raise awareness of inheritance tax.

  • F&C's balancing act

    15 Feb 2007

    Chris Salih analyses F&C's three-year accelerated growth plan.

  • Fair dues

    15 Feb 2007

    The banks are worried about their future. Apparently, they fear they may soon be so strapped for cash, they will all go out of business.

  • Falling short on income in retirement

    15 Feb 2007

    I have noticed in the last few months that a few networks have published their stance on income in retirement. Most seem to pay a percentage of the amount they could and for a set period of time only.

  • Family matter

    15 Feb 2007

    My father-in-law is nearly 80 and has never, lucky man, had a mortgage in his life. He even struggled with the idea of borrowing to buy property for his engineering business so you can imagine his surprise or even shock when he got a cold call last week trying to sell him a sub-prime loan.

  • Firms sign up to Ascentric platform

    15 Feb 2007

    Ascentric has revealed the first IFA firms signed up to use its platform as it starts operations after nine months in development.

  • Friends bolsters pension fund options

    15 Feb 2007

    Friends Provident has added 25 funds to its corporate pension platform, increasing the fund choices to 83.

  • Friends in plans for group Sipp

    15 Feb 2007

    Friends Provident has confirmed plans to launch a group self-invested personal pension by the end of the year.

  • Friends Prov ditches standard exclusions on IP

    20 Feb 2007

    Friends Provident has removed the HIV/Aids and war exclusions on its individual and executive income protection products.

  • Friends Prov gains FSSC accreditation

    16 Feb 2007

    The Financial Services Skills Council has awarded Friends Provident an accreditation of training excellence as both a firm and a training provider for distributors.The award is for the distribution and development division of Friends Prov and it becomes one of the UK’s first life and pensions firms to receive the accreditation.The core standards for which the qualification is awarded include using training and development to produce business benefits, determining training priorities ...

  • Friends Provident launches guaranteed bond

    15 Feb 2007

    Friends Provident has launched a guaranteed bond that enables investors to benefit from stock market growth while guaranteeing the return of the original investment either on death or after a five year period.

  • Fringe benefits

    15 Feb 2007

    It was a big week for PR agency Lansons. Not content with announcing the promotion of Louise Bullock to the board as associate director at the start of last week, it then hosted a few drinks for its clients and favourite journalists, where the theme was DJ-ing in a night called Stick It On.

  • FSA appoints new mortgages chief

    20 Feb 2007

    The FSA has appointed Mandy Spink as head of mortgages and credit unions in the regulator’s small firms division.

  • FSA delays contracting out decision as it conducts further analysis

    20 Feb 2007

    The FSA has delayed announcing the results of its contracting out review while it conducts further analysis of industry data and feedback.

  • FSA fines Capital One £175,000 for PPI misselling

    15 Feb 2007

    The FSA has fined Capital One Bank £175,000 for failing to have adequate systems and controls for selling PPI and failing to treat its customers fairly.It is the eighth recent fine handed out by the regulator as it continues its crusade against misselling of the product.It says the firm failed to ensure 50,000 customers received important information about the policy including exclusions although they did receive a policy summary.Affected customers were unable to check what ...

  • FSA pondering two insurance regimes

    15 Feb 2007

    The FSA is considering proposals to introduce two different regulatory regimes as part of its review of the insurance conduct of business rules.

  • FSA sends out lifetime mortgage warning letter

    15 Feb 2007

    The FSA has sent a letter to firms carrying out low levels of lifetime mortgage business warning they must ensure they have relevant skills and systems in place to deal with the product.The regulator says the letter, sent by retail themes division director Vernon Everitt, comes on the back of mystery shopping research and thematic work in 2005 and 2006 which found unacceptable standards particularly in firms transacting low volumes of lifetime mortgage business.The FSA says it ...

  • FSA set to question public on the menu

    15 Feb 2007

    The FSA is to conduct research into consumer understanding of the initial disclosure document and payment menu followed by a consultation on proposed changes.

  • FSSC wants T&C schemes endorsed by regulator

    15 Feb 2007

    The Financial Services Skills Council is calling for the formal endorsement of training & competence schemes following the FSA's proposed consultation on reviewing the T&C sourcebook.

  • FTSE surges to six-year high

    15 Feb 2007

    The FTSE 100 index reached a six-year high last week and is closing on its all-time record of December 1999.

  • GE fine proves FSA will take on big boys

    15 Feb 2007

    When the FSA bares its teeth to take on a subsidiary of one of the world's biggest commercial entities, then the entire UK financial services sector should take heart.

  • GE Life exits reversion market

    15 Feb 2007

    The equity-release market has been dealt a blow after one of the leading providers, GE Life, pulled out of the home-reversion sector.

  • Hogarth's Paradigm opens with 50/50 deal

    15 Feb 2007

    Paradigm Partners chief executive Paul Hogarth's latest venture opened last week with the former Bankhall supremo offering advisers a 50/50 split of all future earnings from assets held on its platform.

  • Hornbuckle Mitchell calls for support for ASP petition

    14 Feb 2007

    Hornbuckle Mitchell is calling on advisers and their clients to sign up to a Downing Street petition calling on the Prime Minister to abolish the 70 per cent ‘unauthorised payments’ tax on pension assets passed to heirs from an Alternatively Secured Pension.

  • HSBC Investments - Commercial Property Protected Plan

    16 Feb 2007

    HSBC InvestmentsCommercial Property Protected Plan

  • HSBC is hit by downturn in US sub-prime

    15 Feb 2007

    The crisis-hit US sub-prime market has plunged to new lows after HSBC revealed that huge losses from US homeloans have pushed up its bad debt provisions by almost £900m.

  • HSBC on the hunt for protection recruits

    15 Feb 2007

    HSBC is understood to be headhunting key staff from leading protection providers in preparation for its launch into the intermediary market in the second half of this year.

  • Huge savings in consolidation

    15 Feb 2007

    Life and pension companies could save up to 1bn a year by consolidating the number of administration platforms they run, according to research from consultancy Accenture.

  • IFA demands protection in wake of identity scam

    15 Feb 2007

    Alan Steel makes plea for changes to data law after replica of firm's accounts is lodged at Companies House.

  • IFAs warned of confusion over Revenue's Qrops list

    15 Feb 2007

    IFAs with expatriate clients could get caught out if they rely on HM Revenue & Customs' list of qualifying overseas schemes to decide where to transfer pension funds.

  • IFP aims for 800 CFPs after 23% rise in 2006

    15 Feb 2007

    Institute points to a 'natural progression' towards financial planning in the industry.

  • IFS says better education could cut repossessions

    15 Feb 2007

    Better financial education could reduce the growing number of mortgage repossessions, says the IFS School of Finance.

  • Imla impetus

    14 Feb 2007

    At last, the silent trade body has begun making noises, insisting it will make its voice heard and campaign for members and advisers.

  • Imla pledges more support for members

    15 Feb 2007

    Brokers and packagers have been promised greater support from the Intermediary Mortgage Lenders' Association, which has admitted that it has so far failed to represent its members adequately in the market.

  • In the twinkling of iShares

    15 Feb 2007

    Exchange traded funds are gaining popularity with some investors but how do they work?

  • Inflation falls to 2.7% in January

    15 Feb 2007

    Inflation fell to 2.7 per cent in January after hitting an 11-year high of 3 per cent in December.

  • Invesco takes 15 per cent stake in A J Bell

    16 Feb 2007

    Invesco Perpetual has taken a 15 per cent stake in A J Bell and Midas Capital Partners has increased its stake to 15 per cent in a deal that makes founder Andy Bell £9m.The move sees the two investment firms invest £14m by way of a purchase of existing shares.Bell has reduced his stake in the business from 53 per cent to 42 per cent in a deal that values the firms at £78m. The move raises Midas’ stake from 12 per cent to 15 per cent.Bell says the firm is considering all options, ...

  • Journey of discovery

    15 Feb 2007

    TCF is the perfect opportunity to embrace change in the industry.

  • Kensington in specialist prime move

    15 Feb 2007

    Kensington has made its full launch into the specialist prime market.

  • L&G looks to add CI conditions

    15 Feb 2007

    Legal & General is considering covering more conditions through its critical-illness product when it updates its definitions in line with the Association of British Insurers' statement of best practice.

  • L&G sells PMI business to Axa

    16 Feb 2007

    Legal & General has sold its healthcare business to Axa due to declining sales despite relaunching its proposition six months ago.

  • Labour asks staff to take 25% pension cut

    15 Feb 2007

    The Labour Party is asking its workers to accept a 25 per cent cut in pension payouts and work until 65 instead of 60. Unions representing 200 Labour staff have reacted angrily to the cuts, which the party hopes will help to reduce its 27m debt.

  • Last post needs first-class advice

    15 Feb 2007

    Royal Mail's announcement that it intends to close its final-salary scheme further highlights the dramatic decline of defined benefit schemes in the UK.

  • Left out in the cold

    15 Feb 2007

    Worst attempt to get coverage on the back of the recent snowy conditions has to go to those normally reliable folk at Wriglesworth.The lender could still do business despite the cold snap that saw many people up and down the country confined to their homes last week. Wow.The release even featured news of a snowball fight between the chief executive and managing director of the company, in which the CEO won.It was so cheeky that we are not even going to mention the client.

  • Levy rationale is wrong

    15 Feb 2007

    May I make some points on the FSA fee rise:1: The rise is inflationary - 10 per cent is outrageous.2. The rationale is that costs go up as regulation gets less prescriptive. If it is less prescriptive, costs should fall.3. The FSA aims to have fewer employees but still feels it needs more money. This is to pay higher salaries. Bonuses are already paid and are due to be increased. How does it determine what merits a bonus? More paperwork generated? More fines levied? More talk and discussion ...

  • Little treasures

    15 Feb 2007

    Lack of scrutiny means there are some real gems waiting to be unearthed in the small-cap market.

  • Lloyds TSB ponders sale of Abbey Life

    19 Feb 2007

    Lloyds TSB is considering selling Abbey Life after the company instructed its investment bankers to look into potential buyers.

  • Massive boom in buy-to-let, reveals CML

    14 Feb 2007

    The buy-to-let market is continuing to flourish, according to figures out today.

  • Means-testing is already posing misselling threat

    15 Feb 2007

    'IFAs need to be at least alerting client employers and pension scheme members to the risks of saving'

  • 'Middle managers paralysing UK firms'

    15 Feb 2007

    Middle managers have been accused by bosses of paralysing UK businesses and cutting the productivity of companies by £220bn a year because they under-perform.

  • MM Live and Mortgage Business Expo set for Scotland

    15 Feb 2007

    Money Marketing Live and Mortgage Business Expo will be joining forces at the Scottish Exhibition and Conference Centre in Glasgow on March 8.

  • Montpelier goes North with RST acquisition

    15 Feb 2007

    Financial services firm and tax adviser Montpelier Group has bought the RST Group for a price believed to be around £1.5m following tense negotiations over net liabilities.

  • Moratorium underwriting needs clarity

    15 Feb 2007

    Bupa commercial manager Steve Flanagan's comments regarding moratorium underwriting of healthcare cover (Money Marketing, January 18) is curious, considering Bupa sells similar products - Bupa localcare direct (which is sold, as the name says, direct to consumers on a non-advised basis, with moratorium underwriting) and the recently discontinued Bupa clientchoice range (a moratorium product with a no-claims discount).

  • Mortgage firms braced for future base rate rise

    15 Feb 2007

    The mortgage market has got a breathing space after the Bank of England monetary policy committee voted to hold base rates at 5.25 per cent last week.

  • Mortgage Next bullish after launching BTL tracker

    19 Feb 2007

    Mortgage Next is launching a five-year buy to let tracker mortgage, funded by West Brom for Intermediaries.

  • My beautiful career - Personal effects

    15 Feb 2007

    When asked to prepare this piece and look back at my career in the financial services industry, I was concerned because looking back is generally something that you do when you are at the end of something.

  • My beautiful wrap - Take control of your destiny

    15 Feb 2007

    In essence, a wrap is simply an online environment in which an adviser can manage all of a client's assets in one place to best effect. That may not sound very radical but it stands to fundamentally alter the complex relationship that has historically existed between financial advisers and the big insurance companies. Indeed, wraps may ultimately sever that relationship.

  • Nationwide fined £980,000 for information security breaches

    14 Feb 2007

    The FSA has fined Nationwide Building Society £980,000 for failing to have effective systems and controls to manage information security risks.The failing came to light following the theft of a laptop from a Nationwide employee’s home last year.During the investigation the FSA found Nationwide did not have adequate information security procedures in place potentially exposing customers to an increased risk of financial crime.The regulator also discovered Nationwide was unaware ...

  • Nationwide sees signs of cooling house prices

    15 Feb 2007

    Nationwide says it has spotted the first sign of a cooling in the housing market.

  • Nimble picking

    15 Feb 2007

    Despite the odd nervous shudder running through the market, shares have held up well to suggest that no one really believed the Bank of England was about to raise rates again last week. And it didn't.

  • Nucleus appoints two new IFA account managers

    15 Feb 2007

    Nucleus Financial Group has appointed John Walls and Nichola Burns as IFA account managers.

  • NU's business is boosted by A-Day strategy

    15 Feb 2007

    Norwich Union's total UK life and pension new business increased by 25 per cent last year to £11.5bn from £9bn.

  • Of slender means

    15 Feb 2007

    Auto-enrolment poses significant risks to some workers.

  • Opt-out question

    15 Feb 2007

    In 1988, I gave myself the advice to opt out of Serps and used an NPI personal pension to do this. I am now 61 and have decided to make use of the fund available which is just short of £40,000.

  • Out of Context

    14 Feb 2007

    "Cofunds is not a mammal, it is a raptor devouring the competition."

  • Over 100 staff took part

    15 Feb 2007

    Over 100 staff at intermediary firm Jelf Group took part in September's New Dawn Ridgeway Walk and it proved to be a challenge for everyone involved, judging by the photos. The Axa and Jelf-sponsored event saw the group pass its 20,000 target of sponsor...

  • Packagers confident about the future, says Rooftop

    16 Feb 2007

    A huge 95 per cent of mortgage packagers have said they are either confident or very confident about the future of the packaging market.

  • Paragon ready to expand outside BTL

    15 Feb 2007

    Paragon Mortgages is considering entering new markets to expand on its current buy-to-let offering.

  • People on the move

    15 Feb 2007

    Bill Mott has returned to day-to-day fund management alongside former Credit Suisse colleagues Ian Chimes and Graham Fuller.

  • Personal accounts pose huge liability risk for Government

    15 Feb 2007

    The Government is taking a colossal political risk with personal accounts and will not avoid liability if the default fund fails to perform, warn leading pension commentators.

  • Phone home

    15 Feb 2007

    Guy Anker looks at Halifax's moves towards mortgages by mobiles.

  • Pink has aspirations as number one network

    15 Feb 2007

    Pink Home Loans says it aims to be the biggest pure mortgage network in the UK after almost doubling completions last year.

  • Platform for debate

    15 Feb 2007

    Many IFAs are now considering how wraps or platforms can be used at the core of their business to improve efficiency, profitability and the service on offer to their clients but how will this work in practice, given the current regulatory environment?

  • Playing the transfer game by Aussie rules

    15 Feb 2007

    Responding to James Salmon's article headlined, Tax wizardry of Oz loses magic for expats, and doing so from a position of some authority (our firm designed the first Australian product to accept UK pension transfers and has been financially guiding those with an Australian or New Zealand connection since the mid-1990s), we would like to make the following points.

  • Portman to close nine branches following review

    20 Feb 2007

    Portman Building Society is to close nine branches following a review of its branch network.

  • Probe into retention proc fees

    15 Feb 2007

    HBOS's retention policy has been hit by a double-barrelled assault after the FSA confirmed it will probe the payment of proc fees while Nationwide slammed the scheme.

  • Professionals aiming to add property to Sipps

    15 Feb 2007

    Origen says an increasing number of its professional clients want to use group Sipps to purchase commercial property.

  • 'Prototype wraps must prove value to win over IFAs'

    15 Feb 2007

    Skandia, Cofunds and FundsNetwork drove the bulk of asset growth on platforms last year.

  • Put value before cost

    15 Feb 2007

    What an interesting if confusing piece was Antony Williams' My Beautiful Wrap column of February 8. He says his "very wealthy clients" would not pay the initial charge to Transact.

  • Question of trust for TPR

    15 Feb 2007

    Was John Ashcroft reading the same article regarding The Pensions Regulator? Yes, he is technically correct that all this is already within TPR's remit but it is splitting hairs to argue the difference between "expanding its remit" and "expanding the use of powers it already has".

  • Rating agency alert over Rooftop securitised book

    15 Feb 2007

    Fitch Ratings has piled more pressure on lender Rooftop by stating that it expects the firm's second portfolio of securitised mortgages to continue drawing on its reserves.

  • Record life and pensions sales fail to impress critics

    20 Feb 2007

    New “record” ABI figures showing a 45 per cent growth in regular premium individual pensions business have failed to impress commentators and led to renewed calls for firms to reveal net results.

  • Recycle path

    15 Feb 2007

    Life offices are enjoying a boom in sales or are savers merely recycling old plans?

  • Relief confirmed on employer payments

    15 Feb 2007

    HM Revenue & Customs has confirmed that employers' pension contributions qualify as a normal business expense, meaning the majority will qualify for tax relief.

  • Retirement Solutions brief: Means times

    15 Feb 2007

    Our panel look at how to advise on means-testing and cash inducements to leave final-salary schemes.

  • Retirement Solutions brief: Tale of three city workers

    15 Feb 2007

    Funding: Clerical Medical financial planning manager Steve Meredith says the timing of contributions is critical to maximise tax relief.

  • Rooftop to outsource technology to Vertex

    14 Feb 2007

    Vertex Financial Services has signed a new outsourcing contract with specialist lender, Rooftop Mortgages.

  • RPS offers income protection products

    15 Feb 2007

    Risk Placement Services is to make income protection and interim cover policies available through its online service which specialises in sourcing protection insurance for non-standard customers.

  • S African insurers blamed for CI smear campaign

    15 Feb 2007

    A South African ombudsman has accused rival insurers of conducting a smear campaign against Discovery Life by spreading rumours that it has received hundreds of complaints about its critical-illness product.

  • Salaries will soar for poached senior staff

    15 Feb 2007

    Headhunter sees pay rises of 20-30 per cent for managers and directors.

  • Sales are set to slump as PPI probe looms

    15 Feb 2007

    High-street lenders could see a big fall in payment protection insurance sales following the Office of Fair Trading's decision to refer the market to the Competition Commission for further investigation.

  • Schroders - Income Maximiser

    14 Feb 2007

    SchrodersIncome Maximiser

  • Scottish Widows appoint head of research and analysis

    19 Feb 2007

    Scottish Widows has appointed Gareth Trainor as head of fund research and analysis for investment services.

  • Sense of fair play

    15 Feb 2007

    Friends Provident socially responsible investment marketing manager Julia Dreblow says the FSA's treating customers fairly initiative is commendable but there are still grey areas over social, ethical and environmental issues which need to be clarified.

  • Shades of mid-green for M&S Money fund

    15 Feb 2007

    HSBC subsidiary Marks & Spencer Money has introduced a manager of managers ethical fund to be run by the HSBC multi-manager team headed by James Hughes.

  • Shepherds Friendly in sales talks with IFA support firms

    15 Feb 2007

    Shepherds Friendly Society is in advanced discussions with Sesame and SimplyBiz about making its products available to both companies' advisers.

  • Ship urges more IFAs to take lifetime loan exam

    15 Feb 2007

    Over 6,000 advisers have now passed the Chartered Insurance Institute and Institute of Financial Services' lifetime mortgage exam.

  • Sipp shape

    15 Feb 2007

    Regulation of Sipps will bring positive benefits and should be welcomed.

  • SJP chairman Mike Wilson

    15 Feb 2007

    St James's Place chairman Mike Wilson was wrongly called Mark Wilson in last week's profile. MM apologises for any confusion caused.

  • Skandia warns over safeguarded rights

    15 Feb 2007

    Skandia is concerned that inconsistent treatment of safeguarded rights among providers could prove extremely confusing for pension advisers.

  • Specialist lenders may merge after Portman takeover

    15 Feb 2007

    Nationwide has indicated it will merge its specialist lending subsidiary with Portman's once its takeover of the Portman is complete in September.

  • Standard hit by pension lapses

    15 Feb 2007

    Standard Life says it has seen pension lapses above expectations and will make further provision for lapses next month.

  • Standard Life Investments announce end of year results

    20 Feb 2007

    Standard Life’s mutual fund sales rose by a record 339 per cent last year to £1.3bn from £293m.

  • Standard puts trust in Reits

    15 Feb 2007

    Standard Life InvestmentsGlobal Reit Fund

  • Strategy group has ABI support

    15 Feb 2007

    At the end of January, the FSA set up the retail savings regulatory strategy group - to help it deliver a coherent set of reforms and give life to its commitment to principle-based regulation.

  • Sweetmeats on the Delhi counter

    15 Feb 2007

    So much of the Asian story has been dominated by China. The sheer number of power stations and airports that China is building over the next couple of years is mindblowing but the fact is that the situation is similar in India. However, India may have been slower to respond than China.

  • Term and conditions

    15 Feb 2007

    What is the valuation basis for the 10-yearly periodic charge on term insurance policies held in trust?

  • The 10% principles

    15 Feb 2007

    The FSA is in grave danger of making advisers pay for its mistakes with the massive above-inflation increase in fees.

  • The exclusion zone

    15 Feb 2007

    The Office of Fair Trading is looking for a crackdown on payment protection insurance and is being backed by many IFAs who are angry that the banks are getting away with selling poor products that do not pay out. Helen Pow reports.

  • The March of time

    15 Feb 2007

    An important anniversary leads to contemplation over the pension crisis.

  • The role of The Pensions Regulator

    15 Feb 2007

    Regarding the article headed Dual-regulation fears for pension companies (Money Marketing, February 1), the consultation on how The Pensions Regulator intends to regulate definedcontribution schemes does not set out to "expand our remit". It is already part of our remit under the Pensions Act 2004 to regulate occupational DC schemes and group personal pensions as well as ensuring employers provide stakeholder schemes.

  • Thinc lending breaks through 4bn barrier

    15 Feb 2007

    Thinc Group's mortgage lending topped the 4bn level last year.

  • TMB estimates packager sector worth up to 30bn

    15 Feb 2007

    The Mortgage Business estimates the packager market to be worth 28bn-30bn.

  • Top 300 civil servants have £250m in pensions, says Lib Dem research

    16 Feb 2007

    The Liberal Democrats have released research showing that the top 300 civil servants have combined pensions worth £250 million.

  • TPR told to stand up to firms that ditch DB schemes

    15 Feb 2007

    Legal & General wants regulator to crack down using its wide powers.

  • Trade disunion

    15 Feb 2007

    Paul McMillan finds industry figures divided on the need for a new trade body for all advisers.

  • Treasury backtracks on PTA U-turn

    16 Feb 2007

    The Treasury is understood to have offered the industry a lifeline on pension term assurance which could see the revival of the product.

  • Trigold adds data deal to Equifax link

    15 Feb 2007

    Trigold has added a feature to its link with online credit information service Equifax allowing it to prepopulate data from the sourcing system into clients' credit report applications.

  • Two most vulnerable groups hit worst by inflation, says Alliance Trust

    15 Feb 2007

    The over 75s and poor families are hit hardest by inflation, according to a new study by Alliance Trust.

  • UBS offering multi-asset fund

    15 Feb 2007

    UBS is launching a multi-asset fund, to be managed by its global investment solutions team. Headed by Jamie Lewin, the fund will be predominantly equities and fixed-income, with both property and private equity excluded at launch.

  • Undercover tactics could mean jail for insurers

    15 Feb 2007

    Staff at insurers and lenders may face up to two years in jail if they use unscrupulous practices to gain information on clients.

  • Webline adds online enhanced annuity quotes from GE Life

    19 Feb 2007

    Webline has added online enhanced annuity quotes via its portal from provider GE Life allowing advisers to obtain instant enhanced annuity quotes for clients who have pre-existing medical conditions.

  • West Bromwich Building Society - Buy-To-Let Two-Year Fixed

    16 Feb 2007

    West Bromwich Building SocietyBuy-To-Let Two-Year Fixed

  • Winterthur appoints new MD after restructure

    14 Feb 2007

    Axa has appointed Winterthur's director of distribution David Thompson as managing director of Winterthur Life.

  • Woolwich track and cap 'a gimmick', says Cornell

    15 Feb 2007

    Woolwich's track and cap mortgage designed to protect against interest rate rises has been branded a gimmick by a leading broker.

  • Wrong calls on asset allocation

    15 Feb 2007

    It seems from the article in the February 1 edition of Money Marketing that Mark Dampier's under-standing of the work of Gary Brinson et al has not increased over the last few weeks since his original article which both misquoted and misinterpreted their 1986 and 1991 findings on the impact of asset allocation on the variability of portfolio returns.

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