Money Marketing
14 March 2007

  • Pru set to reveal its new strategy

    15 Mar 2007

    Prudential will unveil the results of its strategic review this week, which is widely predicted to include plans to cut costs through outsourcing some admin and support functions, possibly to India. It is also expected to announce plans for the reattribution of the 9bn inherited estate on its with-profits funds.

  • £5k limit set to be dropped

    15 Mar 2007

    The Government has strongly hinted it will reverse plans in the personal accounts White Paper to set the maximum cap at £5,000 and will change it back to £3,000.

  • 7IM and Sarasin link for ethical mandate

    15 Mar 2007

    Seven Investment Management has set up an ethical mandate with institutional manager Sarasin Chiswell. Sarasin's Henry Boucher will run 85-90 per cent of the 7IM ethical fund and the rest will be managed by 7IM chief investment officer Ros Price.

  • À la carte catering for clients

    15 Mar 2007

    Bright Grey products director Roger Edwards serves up food for thought on the value of menu plans to offer clients an affordable, bespoke solution to their protection needs.

  • A lasting impression

    15 Mar 2007

    You have to keep up contact to maintain and build client relationships, says Lesley Hankin, director of Marketing-hub.co.uk.

  • A sense of timing

    15 Mar 2007

    The level of cash in funds is a topical subject. Some equity managers remain fully invested at all times believing it is not their job to take asset-allocation decisions between cash and equities.

  • Abbey on road to Santander branding

    15 Mar 2007

    The Abbey brand looks as endangered as the red squirrels used in its advertising after its Spanish parent confirmed it wants to operate all of its businesses under the Santander banner by the end of the year.

  • ABI attacks Government over personal accounts

    19 Mar 2007

    The ABI has attacked the Government’s personal accounts proposals suggesting they risk damaging existing saving and warned significant improvements are needed to the plans.In its response to the Government’s White Paper on personal accounts, the ABI suggests the “cloud of uncertainty” caused by means testing will create a situation where many people who should be saving will not do so.The trade body calls for the contribution cap to be limited to the £3,000 suggested by Lord Turner, ...

  • ABI in move to put more focus on declined claims

    15 Mar 2007

    The Association of British Insurers has renamed its financial ombudsman service liaison committee as the treating customers fairly health claims committee, which will be chaired by Legal & General protection director Bernie Hickman.

  • Actuaries warn of war over personal accounts

    15 Mar 2007

    The Actuarial Profession has issued a stark warning to the Government in Westminster's in-house magazine that it will publicly attack pension personal account proposals unless its concerns are addressed.

  • Adviser Fund Index

    15 Mar 2007

    The second mid-season Adviser Fund Index questionnaire conducted last month showed panellists in bullish mood on the stockmarkets.

  • Aegon Asset Management - Ethical Cautious Managed Fund

    16 Mar 2007

    Aegon Asset ManagementEthical Cautious Managed Fund

  • Aegon has doubts about ABI's PTA proposals

    16 Mar 2007

    Aegon Scottish Equitable says the ABI's proposals on pension term assurance are not a workable solution and could lead to providers withdrawing from the market.

  • Aegon wants rethink of 'outdated' age 75 rule

    15 Mar 2007

    Aegon is calling on the Treasury to review the "outdated" age 75 rule for forced annuitisation and follow the precedent set with state pensions.

  • Are you making fair progress?

    15 Mar 2007

    No one can dispute the goodness associated with treating customers fairly.

  • Asp you like it

    15 Mar 2007

    Advice for a client who has been banking on alternatively secured pensions.

  • Aviva in outsource pact with Swiss Re

    15 Mar 2007

    Three million life and pension policies taken over to cut admin costs.

  • AWD Chase de Vere looks to escape CSAM FoFs range

    16 Mar 2007

    IFA firm AWD Chase De Vere is considering whether to recommend clients to other fund of funds managers following the latest tranche of departures on the Credit Suisse multi-manager range.

  • Axa salesforce in Thinc switch

    15 Mar 2007

    Axa is moving its 260-strong tied salesforce into adviser subsidiary Thinc bringing the distribution group's intermediary total to over 1,000.

  • Axa-Framlington goes on defensive

    15 Mar 2007

    Axa-Framlington is offering a fund of funds multi-asset veh-icle which invests in fixed income, property and cash.

  • Balls publishes consultation on unclaimed assets

    20 Mar 2007

    Treasury economic secretary Ed Balls has today launched a consultation document on proposals to introduce an unclaimed assets scheme in the UK.

  • Barclays confirms ABN takeover talks

    20 Mar 2007

    Barclays has confirmed it is in talks to buy Dutch bank ABN AMRO. It says in a statement: “These discussions are the result of careful consideration to create a highly complementary partnership. The talks are at an early and exploratory stage and there can be no certainty that they will lead to a transaction.”

  • Baring multi-manager range to come onshore

    15 Mar 2007

    Baring Asset Management is set to bring its entire multi-manager range onshore.

  • Base rate held in close vote but increase still on cards

    15 Mar 2007

    Weakening economic data and falling inflation prompted the Bank of England monetary policy committee to maintain interest rates at 5.25 per cent.

  • Batchelor appointed Lehman sales and marketing chief

    14 Mar 2007

    Guy Batchelor has been appointed as Lehman Brothers UK mortgage business sales and marketing director.

  • Beacon Home Loans - Fast Track Right To Buy Two-Year Discount

    16 Mar 2007

    Beacon Home LoansFast Track Right To Buy Two-Year Discount

  • Big lenders are accused of 'anti-Robin Hood' behaviour

    15 Mar 2007

    Edeus managing director Alan Cleary says high-street lenders are anti-Robin Hood figures as they force the poor to fund the rich.

  • Broker Talkback

    15 Mar 2007

    Do you recommend ethical investment funds to clients?

  • 'Brokers must heed economic warning signs'

    15 Mar 2007

    The FSA says the increasingly challenging economic climate makes it is vital for mortgage brokers to ensure they give the correct advice.

  • Buyout could bring clarity

    15 Mar 2007

    Sesame has for a long time felt like an unloved child in the Misys' home.

  • By the rule

    15 Mar 2007

    Keeping RU64 will make advisers feel that the finger is pointed at them again.

  • Calling the correction

    15 Mar 2007

    Helen Pow reports on the causes and effects of the recent world stockmarket falls and how long the volatility is likely to continue.

  • Cavanagh profits grow by over 1m

    15 Mar 2007

    Cavanagh has recovered from its 388,000 loss of last year to report a pre-tax profit of 882,000 in its latest annual results.

  • Chilton to head up new Network Data lender

    20 Mar 2007

    Network Data has appointed Mark Chilton as chief executive of its new lender Homeowners Mortgages.Chilton has quit broker Purely Mortgages to take up the role at the lender, which will launch later this year.

  • CII appoints new director of policy and public affairs

    16 Mar 2007

    The CII has appointed Barclays Bank public policy director David Thomson to the new position of group director of public affairs.The position will incorporate public affairs, a new research and policy unit and the existing faculties across the CII and Personal Finance Society.It will incorporate the role of current CII public affairs director John Ellis who will continue until at least the end of the year to help with the transition.Thomson has been at Barclays for 12 years ...

  • Claim is the spur

    15 Mar 2007

    Compliance consultant Adam Samuel says advisers cannot turn away from clients when they have grounds for a complaint against another firm. He explains the right way to pursue a claim though the FOS.

  • Claiming race

    15 Mar 2007

    A fortnight ago, following the successful High Court hearing in which members of failed occupational pension schemes won their judicial review against the Government's refusal to pay them compensation, I wrote a column in Money Marketing praising Ros Altmann.

  • Clarification wanted on Sipps in limbo

    15 Mar 2007

    The FSA has been called on to clarify the position for a potential 30,000 Sipp clients left in "legal limbo" by confusion over transfers.

  • Cleary hits out at 'dinosaurs'

    15 Mar 2007

    Edeus managing director Alan Cleary has hit back at lenders which criticise the technological advances his firm has made.

  • CML secures deal to rescue BTL

    15 Mar 2007

    Buy to let has been spared a potential catastrophe after the Council of Mortgage Lenders agreed a deal with the Government preventing the extension of the Consumer Credit Act.

  • Coalition pressures Government not to reverse contribution cap level

    19 Mar 2007

    A coalition of lobbying groups has joined together to call on the Government not to lower the maximum contribution cap for personal accounts and suggest that ministers examine a lifetime limit instead.In a letter to the Financial Times, the TUC, Equal Opportunities Commission, Help the Aged, Which? and Age Concern state they are “alarmed” by Work and Pensions Secretary John Hutton’s recent suggestion he had reconsidered setting the cap at £5,000.The letter suggests lowering the ...

  • Commerzbank agrees to sell Jupiter to its management and TA Associates

    20 Mar 2007

    Commerzbank has reached an agreement with Jupiter's senior management over a management buyout of the firm, supported by private equity group TA Associates.

  • Correspondent's Week

    15 Mar 2007

    This week by freelance journalist Rachel Gordon.

  • Dalton-Brown attacks wraps on hidden fees

    15 Mar 2007

    FundsNetwork chief David Dalton-Brown has accused wraps of masking charges and claims that fund supermarkets offer much more transparent fee structures.

  • Deal or no deal on the final box?

    15 Mar 2007

    James Salmon looks at the prospects for Brown's last Budget.

  • Deferred members face reduced incomes

    15 Mar 2007

    Cost-cutting proposals for defined-benefit pension schemes could see deferred members facing smaller incomes by halving the level of index-linking, warns Standard Life marketing technical manager Andy Tully.

  • Dick Saunders

    15 Mar 2007

    From being the mouthpiece for former Chancellor Norman Lamont on Black Wednesday, this ex-civil servant has become chief executive of a fund management trade body, lobbying his former employers at the Treasury for tax changes on funds. Here, he tells Helen Pow of his wishes for next week's Budget and his long-term hopes for personal accounts.

  • Dog has his day

    15 Mar 2007

    Lazard Asset Management took a group of hacks to Wimbledon dog racing last week and ran a competition to come up with the best name for a greyhound owned by Lazard.One cheeky journo wrote: "Lazard dog: UK equity income fund". But the winner was a young hack from a downmarket rival who came up with the ingenious name "Lazzie".

  • Domestic science

    15 Mar 2007

    The fall in the Chinese domestic market is due to a combination of factors but we remain positive.

  • EIS aims for film Prescience

    16 Mar 2007

    Prescience Film Finance has teamed up with tax consultant Chancery UK to raise up to £5m for the Prescience Pictures EIS, an enterprise investment scheme investing in British films and TV projects.

  • Emerging maturity

    15 Mar 2007

    Lazard Asset Management emerging markets manager James Donald says the failure of Chinese stockmarket volatility to trigger a major sell-off shows how emerging markets have developed as a major asset class.

  • Equity Income special report: Adapt and thrive

    15 Mar 2007

    Investment style. Jupiter income fund manager Anthony Nutt has one of the best long-term track records in the sector but is not resting on his laurels and says there are great opportunities emerging for managers in the changing market environment, says Simon Hildrey.

  • Equity Income special report: Long good buy

    15 Mar 2007

    Fund performance. Gregor Watt looks at the handful of fund managers with a hard-won reputation for consistent outperformance in the equity income sector.

  • Equity Income special report: Old favourites

    15 Mar 2007

    Retirement Planning. Offering greater investment freedom than annuities and protection against inflation, equity income funds have traditionally been useful for providing income in retirement and may be accessed via an Isa for the added tax benefits, says Annie Shaw.

  • Equity Income special report: Playing the yield

    15 Mar 2007

    Simon Hildrey begins a six-page special on the equity income sector by looking at the 'jam tomorrow' principle behind the funds which, despite their income focus, are popular for generating total returns.

  • Equity Income special report: Return of Mr Income

    15 Mar 2007

    Fund Manager Profile. The investment adviser community is buzzing with anticipation as income star Bill Mott prepares to return to day-to-day management at new asset firm PSigma Investment Management. With launch just weeks away, he is keeping details of the fund close to his chest but tells Samantha Downes it is an exciting time for equity income and the challenge will be to find new areas to generate a yield.

  • Equity Income special report: What's in a name?

    15 Mar 2007

    Income dilemma. What distinguishes income funds from their high-income counterparts? By Samantha Downes.

  • EU turn

    15 Mar 2007

    In a speech in Brussels, David Cameron signalled the start of a new engagement by the Tory party with the European Union. He intends to reform the EU from within, moving away from uniformity and towards diversity and from being an inward-facing bureaucracy to an outward-facing association of states.

  • Evanridge Properties - Evanridge Sweden Exempt Pensions Unit Trust

    16 Mar 2007

    Evanridge PropertiesEvanridge Sweden Exempt Pensions Unit Trust

  • Exceptions to the rule

    15 Mar 2007

    Considering the tax treatment of excepted and non-excepted group life schemes.

  • Experts split over Europe equities

    15 Mar 2007

    Multi-manager opinion on the outlook for European equities is divided after the markets four-year bull run.

  • F&C focuses on catalysts for change

    15 Mar 2007

    F&C Asset Management is launching a listed fund of hedge funds that will focus on event-driven strategies.

  • F&C to launch Lifestyle funds

    15 Mar 2007

    F&C Investments is to launch a set of four "lifestyle" fund of funds at the end of March.

  • Fee trend to close gap between platforms and wraps

    15 Mar 2007

    The services offered by fund supermarkets and wraps will converge over the next three years as more advisers move to fees, predicts Cofunds chief executive Charlie Eppinger.

  • Fidelity International - All Fidelity funds Isa, Pep transfers and third-party funds registered on FundsNetwork

    14 Mar 2007

    Fidelity InternationalAll Fidelity funds Isa, Pep transfers and third-party funds registered on FundsNetwork

  • Fixed rate prices starting to tumble, says Moneyfacts

    14 Mar 2007

    Moneyfacts says fixed rate prices are starting to fall following the dramatic rises that followed January’s base rate rise.

  • Flush with success

    15 Mar 2007

    Potter and Burdett play their cards well but I won't abandon constellation fund.

  • Franklin Reit weighs in with Japanese property

    15 Mar 2007

    Franklin global Reit fund manager Chip McKinley is backing Japanese property to emerge from the doldrums and deliver stellar returns.

  • Friends Prov profit drops 3 per cent

    20 Mar 2007

    Friends Provident's share price has dipped by 7 per cent today after it revealed group underlying profits were down 3 per cent last year on 2005.

  • FSA calls on platforms to reveal sweeteners

    15 Mar 2007

    The FSA is writing to platform providers requesting information on what inducements they offer advisers and how this is disclosed to clients.

  • 'FSA kept RU64 over Sipp bonanza concern'

    15 Mar 2007

    Norwich Union says it believes the FSA dumped plans to scrap RU64 over concerns that the boom in Sipp sales is taking place at the expense of treating customers fairly.

  • FSA lays out next moves on TCF deadline

    19 Mar 2007

    The FSA will consider the case for enforcement action for all firms failing to meet its March TCF deadline proceeding with referrals on the basis of alleged consumer detriment.Speaking at a Freshfields Bruckhaus Deringer TCF Seminar, FSA director of retail firms division Sarah Wilson said enforcement action would not automatically follow the failure to meet the deadline but will take place on the basis of “alleged actual or potential consumer detriment”.Wilson said the FSA has ...

  • FSA must clarify stance towards illegal Sipp operators, says Hornbuckle

    19 Mar 2007

    Hornbuckle Mitchell has called on the Financial Services Authority to make clear what action it intends to take against any Sipp company that continues operating without approval after the start of regulation on 6th April.

  • FSA set to recruit providers as watchdogs

    15 Mar 2007

    Advisers have been warned to expect providers to check on the quality of advice given.

  • FSA urges industry to blow whistle on insurance crime

    15 Mar 2007

    The FSA is calling on insurance firms and intermediaries to tell the regulator when they suspect criminal behaviour and has set up a whistleblowing service.

  • FSCS reforms are good news for advisers, says Aifa

    20 Mar 2007

    Aifa has welcomed the radical reform of the Financial Services Compensation Scheme which will offer advisers on average a 50 per cent cut in charges.Unlike under the current arrangements, life providers direct sales forces will face a levy which will contribute to the new intermediary sub-class and the reforms will scrap the controversial pensions review A16 grouping.The FSA has announced that under the reforms the FSCS will have five product classes- life and pensions, fund management, ...

  • Fund firms back a voluntary code

    15 Mar 2007

    Fund managers have moved to head off the Government's threat to force institutional investors to reveal how they vote at company meetings by drawing up their own voluntary code of practice.

  • Fund manager bill for split-cap fallout passes £100m

    19 Mar 2007

    Aberdeen Asset Management’s bill for the split-cap trusts debacle has soared passed the £100m barrier after it was revealed that the firm had to pay £30m to settle a dispute with one of it’s former trusts.

  • FundsNetworks and Cofunds reveal Isa drop off points

    15 Mar 2007

    Fidelity FundsNetwork and Cofunds have announce full details of their Isa drop-off points across the UK.  Advisers will be able to drop off Isa and Sipp applications for both platforms at a total of 13 of these collection points, as well as office locations dedicated solely to drop offs for either FundsNetwork or Cofunds.   The collection points have been set up in an attempt to make the last minute rush of Isa investment more manageable for advisers, making life easier for them ...

  • Gadhia returns to Virgin Money

    15 Mar 2007

    Royal Bank of Scotland managing director of mortgages Jayne-Anne Gadhia has returned to Virgin Money as chief executive, raising expectations that the firm's relaunch into the mortgage sector is imminent.

  • Gale leads partial MBO at Sesame

    15 Mar 2007

    Sesame chief executive Patrick Gale is leading a partial management buyout that will see parent group Misys keep a 40 per cent stake in the business.

  • GI giant sets up IFA consolidator

    15 Mar 2007

    Towergate has taken over 115 broker companies in the last 10 years.

  • Government appeals against high court pensions ruling

    16 Mar 2007

    The Government is to appeal against the Judicial Review ruling which found it guilty of misleading workers about the security of their final salary schemes and of wrongly ignoring the Parliamentary Ombudsman.

  • Haddrill urges Balls on PTA

    16 Mar 2007

    The Association of British Insurers has sent a letter to Treasury Economic Secretary Ed Balls in a final desparate bid before the Budget to keep pension term assurance alive.

  • Happy talk

    15 Mar 2007

    Many years ago, I worked for a national IFA and found that apart from the customer-facing team of five, the other 20 in my team had no idea what we did. Sure, they filled in forms and sent out letters about pension options but their awareness of us and what we did was zero.

  • HSA goes for screen test

    15 Mar 2007

    HSA is revamping its Workwell group healthcare cash plan from April by adding occupational health and health screening options.

  • IFA says he was gagged on Equitable concerns

    15 Mar 2007

    IFAs have hit out at Roy Ranson, former chief executive of Equitable Life, saying they had grave concerns over the running of the mutual years before its near collapse but were gagged from making their concerns public.

  • IFA told clients cash was in bonds but he lost it in risky shares

    15 Mar 2007

    A Merseyside-based financial adviser who cheated clients, including professional rugby players, out of more than £200,000 has been jailed for two-and-a-half years.

  • IFAs underwhelmed by CSAM appointments

    16 Mar 2007

    Credit Suisse has appointed a safe pair of hands to run their multi-manager portfolios in the wake of further departures from the firm, that's according to Chelsea Financial Services managing director Darius McDermott.

  • In view on Money Marketing TV

    15 Mar 2007

    This week on Money Marketing TV, Scottish Life's Steve Bee talks about potential personal accounts misselling, Annuity Direct's Stuart Bayliss discusses the problems at Equitable Life and hear the latest breaking news from the Money Marketing newsdesk.

  • Independence of platforms is irrelevant, says Chamberlain

    15 Mar 2007

    It is irrelevant if a wrap is independent or owned by a provider, Thinc Group chief executive Simon Chamberlain told delegates at Financial Services Scotland in Glasgow last week.

  • Ingenious offers lead fund to retail market

    14 Mar 2007

    Ingenious Asset Management, the asset management arm of Ingenious Media, is to open up it's main UK equity fund to retail investors by lowering the minimum investment fee from 50,000 to 3,000.

  • Initial charges cut on Liontrust funds

    15 Mar 2007

    The Liontrust first opportunities and focus 350 funds are being offered at no initial charge until June 30 to mark the funds' first anniversaries.

  • Insurers claim Mifid could prevent effective marketing

    15 Mar 2007

    The Association of British Insurers fears lack of clarity on financial promotions under Mifid could leave providers unable to produce persuasive marketing material.

  • Intelliflo integrates with Unipass

    14 Mar 2007

    IntelliFlo has launched Unipass integration for all its users already holding a Unipass certificate.

  • Is the treasury for turning?

    15 Mar 2007

    Our panel discuss rumours of a PTA double U-turn, the Pru's critical maths and the Competition Commission's payment protection insurance probe.

  • It's good to talk

    15 Mar 2007

    The protection market must think beyond price so advisers can communicate with clients.

  • Jupiter joins fast-growing Euro income

    15 Mar 2007

    Jupiter's European equity income fund launch could herald the start of a number of rival firms following suit.

  • Jupiter reveals new board structure

    20 Mar 2007

    Edward Bonham Carter will take over as group chief executive of Jupiter following the completion of the private equity-backed management buyout in July.

  • L&G cannot blame IFAs for showing a return

    15 Mar 2007

    A spokesman for Legal & General is reported in last week's Money Marketing to be "disappointed" that advisers were taking advantage of their product terms which allowed an investment to be enhanced in value by nearly 2 per cent after redemption charges literally overnight.

  • L&G to launch international life company

    15 Mar 2007

    Legal & General is to launch a new international life company later this year.Legal & General International (Ireland) will initially sell an international pooled portfolio bond targeted at UK investors.The move follows L&G’s launch last year of its open architecture products portfolio bond and portfolio plus pension.L&G managing director, international wealth Simon Pistell says: “The gross of tax market has grown considerably in recent years and, with the development of open ...

  • L&G unveils proposals to protect existing schemes from NPSS

    16 Mar 2007

    Legal & General is calling for employers opting out of Personal Accounts to be given a choice over auto-enrolment in a bid to prevent levelling down of existing occupational schemes.

  • Legal & General shows 24 per cent growth in new business

    14 Mar 2007

    Legal & General Group has released its preliminary results for 2006 which show a 24 per cent rise in UK new business volumes compared with 2005.

  • Lending at February high, but down on January

    20 Mar 2007

    Gross mortgage lending hit a February record at £24.6bn last month, according to the Council of Mortgage Lenders.

  • Liverpool Vic talks on buying GE arm

    15 Mar 2007

    Liverpool Victoria is believed to be in talks to buy the new business unit of GE Life taken over by Swiss Re last year for 465m.

  • Looking for a generic solution

    19 Mar 2007

    Aegon chief executive Otto Thoresen joined forces with Treasury Economic Secretary Ed Balls and pensions minister James Purnell last week to wrestle with issues surrounding the woolly term "generic advice".

  • Mean time

    15 Mar 2007

    Installing the right technology can cut business processing by half and put advisers back in front of their clients, says Distribution Technology chief executive officer Ben Goss.

  • Meteor Prima is structured with dual links

    15 Mar 2007

    Newly launched fund group Meteor Asset Management has revealed that its first product launch will be a structured product with returns linked to the performance of the FTSE 100 and Nikkei 225 indices.

  • Missed chances not confined to Sipps

    15 Mar 2007

    Your lead article in the March 1 edition of Money Marketing headlined, Indemnity is costing us huge Sipp opportunity, makes some very important points but the issue is not restricted to Sipps.

  • More exits from CSAM as it appoints a new head of MM

    16 Mar 2007

    More departures at Credit Suisse are expected as Kelly Prior and Scott Spencer are poised to leave the group.

  • Morningstar completes S&P's acquisition

    19 Mar 2007

    Morningstar has completed its acquisition of Standard & Poor’s fund data business for $55m, as announced last month.

  • Mortgage application fees double since 2004

    19 Mar 2007

    Mortgage application fees have nearly doubled since 2004 amid current concerns that lenders are looking to recoup losses from exit fee refunds.

  • Mott to build fund on Bric and UK

    15 Mar 2007

    PSigma income fund manager Bill Mott is bullish on the outlook for the UK market, saying it is cheap compared with other asset classes and should benefit from strong growth in emerging markets.

  • My Beautiful Wrap - Change of emphasis

    15 Mar 2007

    The introduction of wrap to our business started with a fundamental rethink of our business model and client service proposition.

  • Nationwide plans single loan platform

    15 Mar 2007

    Nationwide will develop a single platform for mortgage brokers after it completes the takeover of Portman.

  • New Star - Hedge ETS

    16 Mar 2007

    New StarHedge ETS

  • NU maintains commission “special offer” to boost PP sales

    15 Mar 2007

    This week Norwich Union revealed it will maintain enhanced initial commission terms on its individual personal pension plan, despite earlier saying it was only a limited special offer to boost flagging sales.

  • Out of Context

    15 Mar 2007

    "I told him he looked like Bonnie Prince Charlie."

  • Paige to chair Aegon audit committee

    15 Mar 2007

    Former Royal & Sun Alliance group risk director David Paige has joined Aegon as a non-executive director and chairman of its audit committee. He was previously chief financial officer at NatWest.

  • Pearl starts asset firm to run closed book

    15 Mar 2007

    Pearl Group is setting up an asset management company to oversee its £27.1bn book of closed life funds.

  • Performance proc

    15 Mar 2007

    Guy Anker assesses plans to switch the basis of remuneration for brokers.

  • Personal Accounts: NAPF calls for tax incentives for employers

    16 Mar 2007

    The NAPF is urging the Government to give tax incentives to help employers adjust to the additional £2bn a year costs of auto-enrolment.

  • Poll gets to source for mortgages

    15 Mar 2007

    Money Marketing online poll results - Will Trigold and Mortgage Brain have to raise their game in response to the launch of Moneyfacts' sourcing system? Yes - 70 per centNo - 30 per cent

  • Portman sends out 1.2 million packs for April's merger vote

    15 Mar 2007

    Portman Building Society is distributing 1.2 million information packs detailing its proposed merger with Nationwide in preparation for members' vote on the deal.

  • Prime suspects

    15 Mar 2007

    If you were of the view that the sell-off two weeks ago was but a momentary blip, life was pretty tricky at the beginning of last week.

  • Protection sales chief for Bupa

    15 Mar 2007

    Former Liverpool Victoria head of sales Mark Anders has joined Bupa as head of individual protection sales.

  • Pru buys Eq Life with-profits book

    15 Mar 2007

    Prudential is to take on Equitable Life's £1.8bn portfolio of in-force with-profits annuities subject to a vote from Equitable's policyholders.

  • Pru nominates policyholder advocate to consider reattribution process

    15 Mar 2007

    Prudential has confirmed it is considering a reattribution of the inherited estate held in the with-profits sub-fund and has nominated a policyholder advocate to start the ball rolling.

  • Pru overhauls commission structure

    15 Mar 2007

    Prudential has exited the front-end commission market for individual pensions and unti-linked bonds and will introduce factory gate pricing instead.

  • Pru scales back protection offering as part of restructure

    15 Mar 2007

    Prudential has announced it will not participate directly in healthcare and protection but will instead expand its joint venture with South African insurer Discovery.

  • Pru slashes CI rates by 12 per cent

    19 Mar 2007

    Prudential has entered the critical illness rate war by slashing the rates on its severity-based product by 12 per cent.

  • Prudential makes a Discovery

    20 Mar 2007

    Prudential has been dominating the news for the past few days and a certain MM reporter was sad enough to log on at 7am last Thursday morning to see what Pru's restructuring proposition involved.

  • PruHealth wins PMI accolade

    15 Mar 2007

    PruHealth was named private medical insurer of the year for service to intermediaries by the Association of Medical Insurance Intermediaries at its AGM last week.

  • Purely launches online TV service through ITV

    15 Mar 2007

    Purely Mortgages is to launch a TV mortgage facility through ITV’s regional broadband service.ITV Local Mortgages uses video to talk the customer through the issues affecting each main sector of the market and says it can take the customer rapidly from initial enquiry to completion.The mortgage brokerage service can be accessed through ITV Local, the company’s regional broadband TV service available in the Meridian, London and Central areas.ITV Consumer commercial director ...

  • Quantum leap

    15 Mar 2007

    I have been dismayed to witness the implosion of Credit Suisse Asset Management over the last few months, especially since I am old enough to remember the hard work that people such as Ian Chimes put into the venture when it started.

  • Record retail rise for Aegon but weakness on institutions

    15 Mar 2007

    Aegon's new business growth rose by a record 85 per cent last year but this was soured by a 50 per cent drop in institutional funds business.

  • Relief over buy-to-let move

    16 Mar 2007

    For the second week running the mortgage industry was able to breathe an almighty sigh of relief.

  • Rent asunder

    15 Mar 2007

    Stretching the boundaries of BTL could be disastrous for some borrowers.

  • Rental arithmetic

    15 Mar 2007

    Helen Pow looks at the growing number of people who are taking the leap to become professional landlords as the demand for rental property continues to grow.

  • Reserve call

    15 Mar 2007

    Former Equitable Life chief executive Roy Ranson has been cast out by the Institute of Actuaries.

  • River delta

    15 Mar 2007

    Chris Salih says the recruitment of Gary Potter and Rob Burdett represents a branching out for Thames River.

  • River themes

    15 Mar 2007

    The destination of ex-Credit Suisse duo Gary Potter and Robert Burdett had investigative journalists and industry spectators in a spin.

  • Sales talk after chief leaves at Resolution

    15 Mar 2007

    Resolution chief executive Paul Thompson quit in a shock move last week, increasing talk of a sale of the business.

  • Santander poised to become single unified brand this year

    14 Mar 2007

    Santander has stated its strategy to become the single global brand by the end of the year, casting doubt over the future of Abbey and other subsidiary brands.

  • Schroders to launch global equity income fund

    19 Mar 2007

    Schroders is to launch a global equity income fund which opens to investors on 18th May 2007.

  • Scot Life creates worksite marketing role

    19 Mar 2007

    Clare Thomson has joined Scottish Life to the new role of workplace marketing manager within the corporate business team. She will report to head of corporate business Mark Polson, working closely with IFAs to create scheme-specific communication strategies to help advisers and employers communicate pension benefits more effectively to staff. 

  • Scott to cover South-west for T Bailey

    15 Mar 2007

    Keith Scott has joined T Bailey as regional sales manager covering the South-west, West Midlands and Northern Ireland. Scott joins from Scottish Widows where he carried out a similar role.

  • Seminars introduce Truth's holistic planning software

    15 Mar 2007

    Advisers are being invited to a series of seminars introducing Truth, the software system that claims to offer the technology to underpin a truly holistic approach to financial planning.

  • Seven Dials reopens property Fof with second tranche

    15 Mar 2007

    The Seven Dials European property fund of funds has reopened following an initial launch period which raised euro 17m.

  • Share-brained schemes

    15 Mar 2007

    March is one of the busiest times of the year in our industry with the end of the financial year approaching.

  • Shining Lighthouse profits

    15 Mar 2007

    Lighthouse saw its profits leap by fivefold last year as its average adviser turnover rose by over a third to £83,000.

  • Signature tune

    15 Mar 2007

    The need for a signature has created a song and dance for contact-based plans.

  • Skandia looks to Old Mutual bond fund

    15 Mar 2007

    Skandia Investment Management has replaced the Goldman Sachs sterling bond fund with the Old Mutual Asset Managers' corporate bond fund as one of seven underlying investments in its multi-manager bond income fund.

  • Slide show

    15 Mar 2007

    Syndaxi Financial Planning's Robert Reid is nursing swollen elbows after a visit to the Tate Modern to experience the delights of its slide exhibition in the Turbine Hall.

  • Slippery slopes

    15 Mar 2007

    Zut alors! The scourge of the slopes, Money Marketing news editor got a faceful of snow on a skiing trip with Old Mutual after barrelling headfirst into a snowdrift.Likened to Bambi on ice by some unsympathetic fellow "skiers", he also tried his best to spark another 100 years war by almost taking out half a dozen French toddlers while flying down one slope on his derriere.

  • Smoked out

    15 Mar 2007

    Gregor Watt looks at the cash benefits from kicking the cigarette habit.

  • Social network website for IFAs

    15 Mar 2007

    Internet business development forum IFA Life has set up an online networking service which it describes as a MySpace-type service for financial advisers.

  • Societe Generale Adequity - New Energy Protected Fund

    16 Mar 2007

    Societe Generale AdequityNew Energy Protected Fund

  • Societies hit back over rate accusations

    15 Mar 2007

    Building societies have defended themselves against criticism that they increase rates for borrowers faster than for savers after base rate rises.

  • Software duo link back-office systems

    15 Mar 2007

    Software providers 1st and Prestwood have agreed to link their back-office systems, Adviser Office and Truth and Professional. The move will enable shared resources for advisers, including 1st's customer relationship management capabilities and Prestwood's cashflow forecasting.

  • Special offer is staying for NU pensions

    15 Mar 2007

    'Others are paying more and we need to compete'

  • Standard slammed over WP penalties

    15 Mar 2007

    Advisers have criticised Standard Life for penalising pension holders who transfer out of its with-profits fund when they are past their stated retirement date.

  • Standard slams NAPF Personal Accounts proposals

    16 Mar 2007

    Standard Life has attacked the NAPF's response to the Pensions White Paper which proposes that group personal pensions and group stakeholders should only get an exemption if they offer pure auto-enrolment.

  • Super specs

    15 Mar 2007

    Samantha Downes reports on the potential for specialised Reits.

  • 'Tax-free rebate schemes to see Budget crackdown'

    15 Mar 2007

    Leading insurance companies believe HM Revenue & Customs is likely to use next week's Budget to close schemes that enable investors to gain tax-free growth through offshore bonds.

  • The Cellaret - The Cellaret EIS

    16 Mar 2007

    The CellaretThe Cellaret EIS

  • The end is nigh for group indemnity cash, says Lawson

    15 Mar 2007

    Product providers are unlikely to be still paying up-front indemnity commission on group pension business by the end of the year, according to John Lawson.

  • The reel thing

    15 Mar 2007

    I very rarely recommend any enterprise investment schemes but Prescience Pictures' EIS looks a good one, mainly because the board of directors is highly experienced in the film and television industries, particularly on the marketing side, which is the most vital factor in making profits from films apart from the films themselves.

  • Tower powers in

    15 Mar 2007

    A new name is moving into the mortgage broker and IFA sector. Towergate is an established consolidator in general insurance broking circles, having taken over around 115 firms.

  • Towry Law buys Baker Tilly FS

    14 Mar 2007

    Towry Law has announced today the acquisition of Baker Tilly Financial Services, the financial advisory division of accountancy firm, Baker Tilly.

  • UCB Home Loans enters adverse mortgage market

    20 Mar 2007

    UCB Home Loans is expanding into the adverse mortgage market from Thursday.

  • Unicorn takes another bite of the cherry

    16 Mar 2007

    Unicorn Asset ManagementUnicorn Aim VCT 3 Series 3 Shares

  • US sub-prime firm's shares suspended

    15 Mar 2007

    The crisis-hit US adverse mortgage market has suffered another blow after trading in the shares of the secondbiggest US sub-prime lender New Century Financial was suspended by the New York Stock Exchange because of liquidity concerns.

  • Watchdog row with PI firms

    15 Mar 2007

    The Financial Ombudsman Service has accused PI insurers of blocking IFAs improving complaint-handling standards by using delaying tactics and overly legalistic procedures.

  • Watchdog to accuse Government on Equitable failings

    15 Mar 2007

    The Parliamentary Ombudsman looks set to find the Government guilty of failing to properly regulate Equitable Life, according to a leaked report.

  • Whistleblow system is better late than never

    15 Mar 2007

    Few could reasonably argue with the FSA setting up a whistleblowing system for the insurance industry to report suspected malprac-tice or criminal behaviour.

  • Widows pledges to avoid Sipp investment bias

    15 Mar 2007

    Scottish Widows has finally launched into the Sipp market, promising to offer transparent charges and avoid the "investment bias" of many products in the market.

  • Win grand prix tickets

    15 Mar 2007

    Sterling is celebrating the second anniversary of its multimanager protected profits funds by offering readers the chance to win two tickets to the Spanish Grand Prix.

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