14 November 2007
Chris Salih looks at the growing trend for overseas income funds
The forthcoming Pensions Bill must remove the ban on employers being able to offer conditionally indexed pensions, according to the Association of Consulting Actuaries.
Advisers say Friends Provident group chief executive Philip Moore's decision to quit is unsurprising, after the failed bid for Resolution, and indicates the firm has "lost its way".
Aegon Scottish Equitable International5 For Life
The RDR may hasten the retreat of advisers from the mass market
Arc Capital & IncomeArc Fixed Income Plan 3
Arc Fund ManagementArc EIS 7 Growth Fund
Barclays CapitalProtected Fund Deposit Account
Bradford & Bingley has agreed to sell its £2.2bn housing association book to Dexia, following a review of the assets.
Liz Mancini analyses the Government's new plans for boosting housebuilding.
BuildLoanTMB Full Status 3 Year Base Rate Tracker
BuildLoanTMB Self Certification 2 Year Fixed Rate
Our panel look at supermarkets' gimmicks to sell life insurance and the possible business impact of generic advice.
Critical-illness insurance: Helen Monks says the crucial point for reviewable critical-illness premiums is communication
Coventry Building SocietyFirst Time Buyer 1.35% Discounted Rate Mortgage
Neil Loney and Mark Thomas, of PA Consulting Group, believe that a radical new approach to life and pensions is needed with products that feature better-defined outcomes, a risk-reward element shared between provider and consumer and simple direct distribution, cutting out IFAs
Downing Corporate FinanceDowning Protected VCTs VIII and IX
Our combined efforts can help to raise awareness of the open-market option
The CII's RDR response suggests that advisers must get themselves to double FPC or diploma in financial services to call themselves professional or general advisers in four years, with a grace period of a further two years, provided the advice is approved by another adviser.
F&C has been hit with a double blow after fund managers Luke Newman and Makis Kaketsis quit the firm to join a global hedge fund group.
Gartmore head of distribution Paul Feeney has brought an end to months of speculation by announcing his departure from the firm.
Structured product provider Arc Capital & Income has brought out a fourth tranche of its bull & bear tracker plan.
Friends ProvidentNew Generation Group Personal Pension Plan
Analysts say a merger between Standard Life and Friends Provident could be on the cards after both firms missed out on the Resolution deal.
There is likely to be a short term increase in FSA adviser fees to get rid of the “rogues” that are currently in the market, says the FSA.
The FSA has fined Toronto Dominion Bank £490,000 for systems and controls failings and banned one of its former traders from carrying out regulated activities.
The FSA has fined two mortgage firms and banned a third for sub-prime failings, following its investigations into the sector.
There has been a flurry of fines from the FSA recently as the regulator looks to clear the decks long before the Christmas break.
The FSA has confirmed the future funding arrangements for the Financial Services Compensation Scheme, which will operate from 1 April 2008.
Departing chief executive Patrick Gale has named the FSA and pressure of handling regulatory changes among the top three things that he will miss about working at the company.
Share prices of companies in the commodities industry and emerging markets have set a blistering pace in recent weeks. The likes of BHP have seen their share prices rise by over 50 per cent from their low point in mid-August while the shares of some companies that are both commodity producers and domiciled in emerging markets, such as CVRD of Brazil, have almost doubled in the same period. This has taken place against a background of deteriorating economic news in Western economies and ...
Godiva MortgagesBuy To Let Two Year Tracker
This week has seen news of several old faces returning to the distribution world from a number of different corners, prompting me to wonder, why now?
Cazenove's new multi-manager team is looking at investing in hedge funds for the first time with the help of the group's hedge fund managers, Tim Russell, Neil Pegrum and Chris Rice.
HMRC is planning to introduce a second offshore disclosure facility in an effort to catch tax dodgers with offshore accounts.
HSBC InvestmentsGlobal Climate Change Fund
Insight InvestmentDiversified Dynamic Return
Insight InvestmentDiversified High Income Fund
Direct Life & Pensions sales and marketing director Richard Verdin thinks it could well be. He predicts the slowdown in the mortgage market will see a direct boost to protection sales because it will incentivise advisers to sell protection to maintain revenue.
JupiterJupiter Global Fund - New Europe Fund
Stockbroker Killik & Co has opened its first overseas office based in Dubai.
Legal and General is mailing 115,000 of its clients to call for men and women over the pivotal age of 44 to contract back into a second state pension (S2P) by April 2008.
Many basic rate tax payers who are long-term shareholders will be penalised under the Chancellor’s introduction of a flat rate 18 per cent capital gains tax, says Heartwood Wealth Management.
Sesame's incoming leader Ivan Martin is keen to reassure advisers that their future is safe, regardless of the retail distribution review's outcome.
Matrix has appointed Chris Merry as the group’s new chief executive officer.
Matrix has reorganised and expanded its fund of hedge fund sales team as its products are gaining popularity with advisers.
The retail distribution review promises to take up a lot of column inches between now and whenever it comes to an end.
Midas Capital predicts further declines in UK commercial property prices and will continue to exclude this area from its portfolios.
I praised him for his dogged determination at forcing the FSA to release the names of the 12 life companies found by the PIA, to have been engaged in "pre-contractual misrepresentations and in some cases a breach of contractual warranty".
Rating agencies were the focus of the Treasury Select Committee's inspection - or wrath some might say - this week as chairman John McFall told Standard & Poor's, Moody’s and Fitch Ratings that they had "failed hopelessly" in their role in the sub-prime crunch.
Northern Rock chief executive Adam Applegarth is to stand down from the lender with head of risk and audit committee Sir Derek Wanless and a handful of other non-executive directors also leaving.
The proposals for Northern Rock submitted last Friday are materially below the market price for the business, causing shares to fall by 16 per cent this morning.
Octopus Investments has brought out a dual venture capital trust offer, Titan VCT 1 and 2.
As IFAs are pushed towards fees, personal accounts demand commission
Shares in Paragon have today dived 46 per cent after it warned this morning that it may have to launch an emergency rights issue as a result of the liquidity crunch.
The Pearl and Resolution boards of directors have announced an agreement on the terms of the acquisition of the share capital of Resolution by Impala, a subsidiary of Pearl.
The Pensions Action Group will stage a protest outside Downing Street on Tuesday evening to highlight the government’s failure to deliver a verdict on the company pensions scandal.
The minister for pensions reform Mike O'Brien has announced The Pensions Regulator will monitor personal accounts.
Edge Investment Management is looking to raise up to £25m through a D share offer for the Edge Performance venture capital trust.
The chairman of HM Revenue & Customs Paul Gray has quit after the confidential details of 25 million people were lost by the Government department.
This week, the panel responds to a question on how the panel thinks the FSA's proposed primary advice channel should structured and integrated with the professional financial planner tier. The panel is available to answer any technical questions about the potential future market and where individual firms may want to consider positioning themselves and broader issues concerning the review. If you have any queries you want answered before submitting a response to the discussion paper, or ...
UCB Home LoansPrime Three Year Fixed Rate
The RDR discussion paper fails to take a holistic view of the financial services industry, according to Navigant Consulting.
Tanya Powley assesses the massive number of foreclosures sweeping throughout the US as the sub-prime crisis hits home with a vengeance
As it appears more likely that Pearl and Resolution will merge to form a giant financial services player comprised mostly, if not entirely, of series of closed books many questions come to mind.
The Resolution saga continues with analysts predicting that failed bidders Standard Life and Friends Provident are now prime takeover targets themselves.
There are periods when growth funds, as defined by the average UK equity unit trust, sometimes marginally outperform the average UK income unit trust but this is not true over the longer term.
Watching bank shares getting hammered recently was not a pretty sight as these shares have been the cornerstone of UK equity income portfolios. Now that you can receive a dividend return vastly in excess of the deposit rate offered, you have to wonder just what is going on.
Skandia is calling for current projection rules to be changed so that all projections include the potential impact of ongoing transaction charges.
Stroud & Swindon Building SocietyThree Year Buy-To-Let Tracker
A client has asked for advice for his mother. Since her husband's death a few years ago, she has become worried that, on her death, a very big chunk of the family's wealth could go to the Exchequer. What steps can be taken to reduce inheritance tax?
TCF is a strange beast but advisers must be brave enough to grapple with it
Tom Baigrie recently addressed the Cicero Forum on the problems within the financial services industry and supplied the most succinct and biting condemnation yet of the futility and madness of the RDR proposals.
Last week, I looked at the impact of the proposed capital gains tax changes on business owners. For many, the proposed changes will mean an 80 per cent increase in the effective rate of tax if the changes are enacted.
Will Henley reports that market commentators believe Japanese equities really could see a sustained resurgence this time
Vertex has confirmed that up to 55 jobs are at risk on its DB Mortgages account as a result of the lender implementing structural changes.
By failing to recognise disparities between European markets, investors risk missing good opportunities
Dwindling client confidence brings the issue of trust to the fore again
Stuart Tragheim, director of intermediary business at LV=, outlines how advisers can assess whether a with-profits investment is still suitable for a client.