Money Marketing
15 April 2009
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£140,000 Claims on FSCS for Kilminster
16 Apr 2009
The Financial Services Compensation Scheme has received claims amounting to an estimated £140,000 from clients of Kilminster Financial Management Limited, which went into liquidation last July. The FSCS says it has received 11 claims so far, after the company was declared in default on January 6.
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£3.6M for Matthews if he hits targets
16 Apr 2009
Friends Provident chief executive Trevor Matthews will get a £3.6m share award in 2012 if he hits performance targets. Matthews was paid £369,758 in relocation costs when he left Standard Life and got £1.2m in salary, benefits and bonuses in 2008.
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1st - The Exchange unveils technology seminar dates
16 Apr 2009
1st - The Exchange is hosting a series of adviser seminars in a bid to help IFAs reduce the cost of running their business using its latest technology.
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214K parties good for morale, says FSA
16 Apr 2009
The FSA has defended spending 214,159.50 on three Christmas parties, claiming it was good for staff morale and motivation.
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Abbey - Three Year Fixed Rate
17 Apr 2009
AbbeyThree Year Fixed Rate
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Action and reaction
16 Apr 2009
Over the last month there has been significant disruption to plans and it has been interesting to see the reaction and outcomes to them.
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Active funds underperform in bear markets
21 Apr 2009
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Adrian Lowcock
16 Apr 2009
The name of Adrian Lowcock will be familiar to anyone who takes more than a passing interest in the trade investment press. The senior investment adviser at Bestinvest has been a notable commentator on all things investment related in the last six months and says the firm took a conscious decision to alter the way its media and marketing operation was structured, with Lowcock becoming the main media spokesman.
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Adviser Fund Index: Jumping Jupiter
16 Apr 2009
As banks helped bring the global economy to its knees, financial stocks have over the past year lost their status as dividend deliverers and some became pariahs of the equity world.
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Adviser Oeics offer clarity on fund governance, says lobby group
17 Apr 2009
The Investment Funds Association says distributor influenced funds give distributors clarity on how they are being managed which cannot always be said for retail funds that are bought “off the shelf.”
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Advisers are coming back to us, claims Transact
16 Apr 2009
Transact claims it is seeing advisers return to the platform after being disappointed when they switched to a rival.
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Advisers are warned to reassess wrap portfolios
16 Apr 2009
Thomas and Thomas managing director Darren Lloyd Thomas is warning other advisers against setting up clients on wraps and then failing to rebalance portfolios on a regular basis.
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Advisers can profit from shared wrap distribution
16 Apr 2009
Advisers who opt for a shared-distribution wrap proposition are more likely to be profitable this year, says pension software provider Dunstan Thomas.
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Alexander David Securities - EIS Small Cap Fund
20 Apr 2009
Alexander David SecuritiesEIS Small Cap Fund
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Alliance Trust benefits from cash stance
20 Apr 2009
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Allianz chips away at equity income
20 Apr 2009
Allianz Global Investors has brought out the RCM European equity incomefund, an Oeic investing in blue chip companies in continental Europe thatpay dividends.
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Altmann says other firms will follow Aon
16 Apr 2009
Pension consultant Ros Altmann says Aon's move to cut employer pension contributions will see other employers following suit.
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American data points downwards
15 Apr 2009
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AMII announces keynote speakers for June conference
15 Apr 2009
The Association of Medical Insurance Intermediaries (AMII) has confirmed the CII’s business development director of financial services, Steve Jenkins and motivational speaker Jim Lawless as keynote speakers for its annual conference.
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Analysis: Who is to blame for the economic crisis?
21 Apr 2009
In times of crisis it is only human to point the finger of blame at others. Economists are no exception. While American and British economists often blame excess savings in Germany and China for the crisis, their German peers generally point to the Anglo-Saxon consumer boom.
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Anger as Abbey rejects quality mortgage deals
16 Apr 2009
Abbey has been slammed by advisers for turning down high- quality mortgage deals.
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Annual Kickout Plan from Keydata
17 Apr 2009
Keydata has launched its first five-year Annual Kickout Plan, which offers investors the choice of early maturity at each plan anniversary, with a rising bonus facility.
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Artemis confirms details of Littlewood fund
21 Apr 2009
Artemis has confirmed the launch of the Strategic Assets fund to be run by William Littlewood.
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Artemis's Littlewood believes UK is facing 1930s style recession
21 Apr 2009
Artemis fund manager William Littlewood believes the UK is facing a 1930s style recession which could be ‘nastier’ and longer than expected.
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Aviva buys ING Russia pension firm
16 Apr 2009
Aviva has bought ING Group's £30m pension fund business and its holding company in Russia.
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Aviva’s Dan Roberts to join Gartmore
17 Apr 2009
Aviva Investors equity income fund manager Dan Roberts is leaving the firm to join Gartmore.
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AWD Chase de Vere launches HNW advisory service
16 Apr 2009
AWD Chase de Vere has launched a new bespoke advisory service for high net worth clients.
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Axa PPP urges Islanders to consider health insurance
16 Apr 2009
Axa PPP Healthcare is urging Channel Islanders visiting the UK to ensure they have appropriate health insurance in place after the UK decided to withdraw access to free NHS care for Islanders.
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Axing higher rate relief "short-sighted", warns ABI
20 Apr 2009
The Association of British Insurers has warned the Government that scrapping higher rate tax relief on pensions would be "entirely wrong and short-sighted".
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Bank of England refuses to reveal money supply figures
16 Apr 2009
The Bank of England monetary policy committee has held the bank rate at 0.5 per cent and will push ahead with its quantitative easing programme.
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Banking on bad advice
15 Apr 2009
Yet another tale of horror has come to light about appalling financial advice given to consumers approaching or already in retirement, with devastating effects to their financial wellbeing.
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Banks can’t deleverage without clear homeowner support, says Oakwood
20 Apr 2009
The Budget must offer greater clarity over Government support from homeowners as lack of access is preventing investors from acquiring mortgage books, warns Oakwood Global Finance.
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Banks hold FTSE above 4,000
17 Apr 2009
The FTSE 100 opened higher this morning at 4,060, up from Thursday’s close of 4,053.
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Banks need capital in local subsidiaries, says PwC
15 Apr 2009
PriceWaterhouseCoopers has warned that banks must hold capital in their international subsidiaries to cushion any future failures.
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Barclays accused on single fund choice
16 Apr 2009
An IFA claims Barclays' advisers transferred the long-term savings of six separate clients approaching or in retirement into a single specialist fund, resulting in huge losses.
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Barclays admits error over Aviva fund
21 Apr 2009
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Barclays still open to bids after iShares £3bn deal
16 Apr 2009
Barclays has agreed to sell its exchange traded funds arm iShares to private equity firm CVC Partners for £3bn, although it is still listening to bids for the whole of its asset management arm, including iShares.
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Barclays Wealth - Target Growth Plan - April 2009
20 Apr 2009
Barclays WealthTarget Growth Plan - April 2009
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Barclays, consumer clarity and the RDR
16 Apr 2009
The standard of advice given by Barclays’ “financial planning managers” and uncovered by Money Marketing this week appears alarming to say the least.
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Barings appoints Japan equities head
16 Apr 2009
Jonathan Greenhill has joined Barings as head of Japan equities.
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Baring's Pascal fears real yields will disappoint
16 Apr 2009
Baring Asset Management marketing director Ian Pascal is warning that some income funds will fail to deliver on the attractive yields being marketed to investors.
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Base rate reductions slash pensioner income by 25 per cent
17 Apr 2009
Interest rate cuts have hit more than 8 million pensioners with a quarter fall in their monthly income according to Safe Home Income Plans.
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Bee in the bonnet
16 Apr 2009
It never ceases to amaze me that even now, after 23 years in the business, I still have moments of clarity that change my whole outlook.
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BlackRock to run Eastern European Trust
17 Apr 2009
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BNY bond fund goes anywhere
20 Apr 2009
BNY Mellon Asset Management has introduced a global strategic bond fund thatcan invest anywhere in the fixed income market.
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BNY Mellon Asset Management - Global Strategic Bond Fund
20 Apr 2009
BNY Mellon Asset ManagementGlobal Strategic Bond Fund
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Broker Talkback
16 Apr 2009
Do you agree with the proposed crackdown on offshore tax havens and secrecy jurisdictions?Yes 88%No 12%
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Brown hints at axing higher rate relief
17 Apr 2009
Prime Minister Gordon Brown has reportedly hinted that higher rate tax relief on pension contributions could be scrapped in next week's Budget.
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Budget wish list
20 Apr 2009
This year's impending Budget has been more hotly anticipated than ever as the public looks to the Chancellor to find out how he intends to lead the UK out of the recessionary storm.
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Build a framework to fight mortgage fraud
16 Apr 2009
The state of the economy has both brought to light and perpetuated the growing spate of mortgage fraud cases in the UK.
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Building societies play down Bank SLS ‘crisis’ talks
20 Apr 2009
The building societies involved in this weekend’s reports suggesting the Moody’s downgrade has forced talks with the Bank of England have played down any rumours of a “crisis”.
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Bupa IP appoints new technical services consultant
17 Apr 2009
Bupa Individual Protection has appointed Kevin Russ as its new technical services consultant.
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Buyer enquiries up for fifth consecutive month, says Rics
15 Apr 2009
New enquiries for house purchase were up in March for the fifth month in a row, the Royal Institution of Chartered Surveyors reports.
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Buy-out business jumps by half, says ABI
15 Apr 2009
Buy-out firms reported a 50 per cent increase of funds under management to £22bn at the end of 2008, according to new figures from the Association of British Insurers.
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Cable says "gaping chasm" now exists between rich and poor
21 Apr 2009
Liberal Democrat Shadow Chancellor Vince Cable says there is a widening gap between how low and high earners are impacted by inflation.
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Canada Life goes live with Plum Software
21 Apr 2009
Canada Life has gone live with Plum Software giving users direct access to fund information.
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Cap ad shows FSA can't regulate
16 Apr 2009
What the FSA is effectively saying with the proposed new capital adequacy levels is that it is not capable of regulation.
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Castlestone launches retail art fund
17 Apr 2009
Castlestone has launched the Collection of Modern Art fund, an offshore eight-year vehicle investing in modern art.
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CBI predicts economic recovery in spring 2010
20 Apr 2009
The Confederation of British Industry says the worst of the UK recession is over but recovery will be slow with GDP growth resuming in the spring of 2010.
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CBI says British economy to shrink 3.9%
20 Apr 2009
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Chelsea calls for Budget tax boost to help VCTs
16 Apr 2009
Chelsea Financial Services has called on the Chancellor to increase the level of tax relief on venture capital trusts in next week's Budget.
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China choices
16 Apr 2009
At a time when most of the West is already in recession, China's economy continues to expand. The main reason to be optimistic about the Chinese economy is the flex-ibility and determination of the authorities to take action to support it.
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China yet to see domestic recovery
15 Apr 2009
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Chinese GDP falls again
16 Apr 2009
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Clive Briault appointed to On-Line Partnership board
21 Apr 2009
Support services firm In Partnership has appointed former FSA managing director of retail markets Clive Briault to the board of The On-Line Partnership as a non-executive director.
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Clydesdale launches in Guernsey
16 Apr 2009
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Collateral thinking
16 Apr 2009
Industry and public concern over counter-party risk following the failure of Lehman Brothers has increased demand for more effective protection strategies in the structured product market.
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Colombia requests IMF credit line
21 Apr 2009
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Colombia requests IMF credit line
21 Apr 2009
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Compensation scheme pays out £33m for IFA failures
16 Apr 2009
The Financial Services Compensation scheme has paid out more than £33m to consumers as a result of claims on failed IFAs over the past financial year.
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Competition Commission appoints new chief economist
17 Apr 2009
The Competition Commission has appointed Dr Alison Oldale as its new chief economist.
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Concerns at societies' bought books
16 Apr 2009
Concerns have been raised over the size of mortgage books acquired by Britannia and West Bromwich.
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'Conspiracy of silence' over soaring DB deficit
16 Apr 2009
The Pension Protection Fund says the deficit in defined-benefit pension schemes rose from £205bn in February to £242bn in March.
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Counterparty animal
16 Apr 2009
A friend said to me the other day: "I bumped into X on the station platform as I was coming to meet you. He told me to tell you that you lost him half a million pounds." That sort of news would, I'd imagine, in the normal run of events, cause me to show a degree of concern, even if I had - as I had that day - been suitably anaesthetised by a rather good lunch.
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cru to pay trail fees
16 Apr 2009
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Darling looks to publish tax evader blacklist
20 Apr 2009
Chancellor Alistair Darling is expected to announce plans in the Budget for a new blacklist for British citizens and businesses who evade significant sums of tax, according to reports.
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Darling will put tax rises on hold
16 Apr 2009
Treasury select committee member Labour MP Andy Love predicts that Chancellor Alistair Darling will delay any tax increases in his Budget next week due to the recession.
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Dennehy warns of possible higher rate pension tax relief axe
15 Apr 2009
Dennehy Weller & Co has warned clients that higher rate tax relief on pension contributions could be abolished in next week's Budget.
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Duffield expected to control New Star trust
20 Apr 2009
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Eq Life victims to take Govt to High Court
15 Apr 2009
Equitable Life victims have launched a bid for a High Court challenge over the Government's failure to compensate one million policyholders when the life company collapsed.
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Equity income, bonds top Vantage sales
17 Apr 2009
Hargreaves Lansdown has released the Isa season sales figures from its Vantage platform, showing that equity income and corporate bond funds continue to dominate.
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Equity release plummets by 24%
16 Apr 2009
The equity-release sector contracted by 24 per cent in the first quarter, according to Key Retirement Solutions.
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Europe sees outflows again
15 Apr 2009
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Eurozone industry slumps
16 Apr 2009
Industrial production in the eurozone fell 18.4% year-on-year in February.
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Eurozone industry slumps
17 Apr 2009
Industrial production in the eurozone fell 18.4% year-on-year in February.
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Exclusive - Axa Winterthur launches family group Sipp offering scheme pension
21 Apr 2009
Axa Winterthur Wealth Management is launching a group Sipp to allow family members and others access to scheme pension, efficient pooled investment options and enhanced income withdrawals and allowing inheritance tax to be minimised.
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Ex-IMA exec Nicoll to head RDR
16 Apr 2009
Former IMA deputy chief executive Sheila Nicoll is to replace Dan Waters as FSA head of retail policy, becoming the new head of the retail distribution review.
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Face value
16 Apr 2009
As you return from the Easter break, your desks are probably littered with enough research documents and reading to turn blue skies grey.
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Fidelity tests online ETF funds
16 Apr 2009
Fidelity is piloting a range of exchange traded funds, inv- estment trusts and stocks on its online trading service Sharenetwork.
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Financial adviser jailed for 6 years for fraud
16 Apr 2009
A Lincolnshire financial adviser has been sentenced to six years imprisonment after he admitted his money lending business had lost £1.2m of investors’ funds through fraudulent trades.
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Financial fallacy proving too critical
21 Apr 2009
The FSA's conclusion that there is a distinct consumer misunderstanding over what constitutes advice and execution-only when buying critical illness cover has caused a stir among industry commentators.
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First State launches global emerging markets sustainability fund
20 Apr 2009
First State Investments has launched a global emerging markets sustainability fund.
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Fix up, look sharp
16 Apr 2009
Headlines heralding 1p mortgages have kept the spotlight firmly on trackers in recent months but for many clients now is time to refocus on fixed deals.
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Focus Solutions remains confident ahead of results
21 Apr 2009
Software provider Focus Solutions remains confident ahead of its financial results due for publication in June.
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Foreign policy
16 Apr 2009
Income is all the rage at the moment, with sales in the UK equity income sector pulling in £369m in net retail sales in February, the third best selling sector. Corporate bonds are also playing on the income theme and in January the sector took in a staggering £1.4bn in net retail sales followed by £1.1bn in February.
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Fraudulent insurance claims rise 17 per cent in 2008, says ABI
16 Apr 2009
Insurers are detecting record levels of fraudulent insurance claims, the Association of British Insurers reveals today.
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FSA fines broker £100,000 for false submissions
16 Apr 2009
The FSA has banned a London mortgage broker and fined him £100,000 after he was knowingly involved in submitting false mortgage applications.
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FSA strikes adviser off for unpaid fees and regulatory failings
20 Apr 2009
The FSA has cancelled the permission of Joy Obika Sydney, trading as Joy Sydney Finance, for regulatory failings including unpaid FSA fees of more than £1,000 .
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FSA warns CI consumers confused over what is a direct sale
16 Apr 2009
Seventy per cent of consumers purchasing a critical illness policy believe that they are being given advice during an execution-only sale, according to FSA research.
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FSA whistleblower claims complacency over building society regulation
17 Apr 2009
A former FSA supervisor has accused the regulator of “apathy and complacency” in its regulation of building societies prior to the credit crunch, according to the Financial Times.
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FTSE breaks above 4,000 barrier
16 Apr 2009
The FTSE 100 opened at 3,968 on a par with Wednesday’s close but lifted as high as 4,008 in early trades boosted by banks and mining stocks.
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FTSE buoyed by banks
20 Apr 2009
The FTSE opened flat at 4,093 today as property stocks held back early gains from banks.
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Fund managers deny world ending
16 Apr 2009
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Gait heads new First State fund
20 Apr 2009
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Gartmore launches UK absolute return fund
17 Apr 2009
Gartmore has added to its absolute return range with the launch of a UK absolute return fund.
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Good value from Pink and Abbey
20 Apr 2009
Pink Home LoansAbbey For Intermediaries 3.99% Two-Year Fixed
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Government launches mortgage arrears support scheme
21 Apr 2009
The Government has today launched a scheme which gives some borrowers the option to defer most of their mortgage payments for two years.
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Group therapy
16 Apr 2009
After filing my column last week, I got an email: "Dear Nic, you may have seen that Axa has scrapped indemnity commission on group pension plan products. I don't know what you think, but in my view this marks the beginning of the end of the commission. That has to be a good thing, doesn't it?"
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Guaranteed growth
16 Apr 2009
With an ageing population, the retirement mar- ket is one of the few sectors where all indicators look positive for growth.
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Hargreaves Lansdown chairman sells 23m shares to fund stadium
17 Apr 2009
Hargreaves Lansdown chairman Stephen Lansdown has sold 23m shares in the firm to fund private projects, including the proposed new stadium for Bristol City Football Club.
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Hargreaves posts 10% rise in Q3 revenue
16 Apr 2009
Hargreaves Lansdown has reported a a 3 per cent increase in third quarter operating revenue to £32.8m from £29.8m a year earlier.
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Hargreaves reports small drop in Isa sales
16 Apr 2009
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Hawksmoor poaches Lockyer from iimia
17 Apr 2009
Hawksmoor Investment Management has appointed Daniel Lockyer as a fund manager.
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Henderson to look at emerging funds
16 Apr 2009
Henderson chief executive Andrew Formica says the firm is looking at emerging market equities as one of a number of potential additions to its range following the New Star deal.
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HMRC proposes U-turn on Isa rebates
20 Apr 2009
HM Revenue & Customs is proposing taxation changes which will allow annual management fee rebates due on Isa investments to be deposited directly in clients' Isas without constituting a contribution.
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Holloway Friendly Society - Personal Income Protection
20 Apr 2009
Holloway Friendly SocietyPersonal Income Protection
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Holloway provides own occupation to all
20 Apr 2009
Holloway Friendly Society has established a personal income protection planbased mainly on an own-occupation definition of incapacity.
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Household appliance
16 Apr 2009
Over the past quarter of a century, the global economy has become increasingly reliant upon demand growth from the world's biggest consumer - the US household sector - to engineer recovery from recession. This time, the customary mechanism for stimulating US domestic recovery, and thereby world trade, is broken.
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HSBC launches FTSE Bonus Plan
15 Apr 2009
...
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HSBC takes lead on 90% loans with 4.99% fix
16 Apr 2009
HSBC took the lead in the battle of 90 per cent mortgages last week as it revealed that it would be allocating £1bn to a new range of high loan to value deals.
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ifs DipFA approved at FSA definition of level four
15 Apr 2009
The ifs School of Finance says Ofqual has formally approved amendments to its level four diploma for financial advisers, designed in response to the FSA’s retail distribution review.
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Inflation turns negative for the first time in 50 years
21 Apr 2009
The March Retail Price Index dropped into negative figures for the first time in almost 50 years.
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Insight creates story for income seekers
20 Apr 2009
Insight InvestmentUK Equity Income Booster Fund
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Investec expands structured product range
20 Apr 2009
Investec has launched its eighth collection of structured products.
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Investec launches structured products
20 Apr 2009
Investec Structured Products has launched an eighth series of plans, with a new income product offering payments of 6% per annum.
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Investors expect prolonged downturn
15 Apr 2009
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iShares adds to ETF range
20 Apr 2009
iShares has announced the launch of seven new offerings to its range of Exchange Traded Funds.
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iShares sees growth in emerging markets ETFs
17 Apr 2009
Inflows into emerging markets exchange traded funds are accelerating as investors show a renewed appetite for opportunities beyond developed markets, says iShares.
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John Duffield to launch new venture
15 Apr 2009
Jupiter and New Star founder John Duffield is set to launch a new company, Hyde Park Asset Management.
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Joint venture launches European insurance fund
21 Apr 2009
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Keydata launches annual kick out plan
16 Apr 2009
Keydata Investment Services has launched an annual kick out plan.
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Keydata new launch offers choice of counterparty
21 Apr 2009
Keydata Investment Services is offering two options for its dynamic growth plan plus issue 16, including a choice of counterparty.
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KSF bondholders not counted as individuals in scheme of arrangement
16 Apr 2009
Bondholders who collectively have nearly 400m frozen in KSF IoM will not be recognised as individual depositors under the Isle of Man's proposed scheme of arrangement.
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L&G appoints head of distribution
21 Apr 2009
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Lamont says IFAs can take crunch role
16 Apr 2009
Former Chancellor Lord Norman Lamont believes that IFAs have a crucial role to play in helping the public through the financial crisis.
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Land Registry fees to soar by 30%
16 Apr 2009
The Land Registry fee for registering a property worth £100,000 is to rise from £100 to £130 in July and for a property worth £1m, it will go up from £420 to £550.
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LGIM appoints new head of distribution
21 Apr 2009
Legal & General Investment Management has announced the appointment of Hugh Cutler as head of distribution.
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LibDems propose raising income tax allowance to £10,000
20 Apr 2009
The Liberal Democrats have proposed to cut income tax bills by raising the personal allowance to £10,000 to boost low and middle income earners.
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Light in the East
16 Apr 2009
It is to be expected that markets run out of puff during a holiday period. The whole basis of sell in May and go away is predicated on wealthy landowners, who owned the bulk of shares in days of yore, closing up their London houses and retiring to the country for the season. Easter may not be quite such a vacational imperative but the streets of the City are undoubtedly quieter and it is not just the recession.
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Lincoln rolls-out telephone interviewing service
16 Apr 2009
Lincoln has rolled out its telephone interviewing service for its flexible menu-based protection product Financial Foundations, replacing its existing application form.
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Lincoln scraps annual admin fee
16 Apr 2009
Lincoln Financial Group has removed the £100 annual admin fee on its retirement product Lincoln i2Live.
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Liquidity alert from Transact
16 Apr 2009
Transact has written to advisers warning them about potential rebalancing problems that can arise in model portfolios when assets become entirely or substantially illiquid.
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M&G - Global Emerging Markets Fund
17 Apr 2009
M&GGlobal Emerging Markets Fund
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Manager focus: Angelos Damaskos
21 Apr 2009
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Manager focus: Ben Wallace
16 Apr 2009
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Manager focus: David Gait
20 Apr 2009
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Manager focus: Richard Buxton
15 Apr 2009
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Managers of JPMorgan trust up their gearing
20 Apr 2009
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Mansfield Building Society - 3.54% Two-Year Fixed Rate Intermediary
20 Apr 2009
Mansfield Building Society3.54% Two-Year Fixed Rate Intermediary
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Marginal risks pay off in first quarter
15 Apr 2009
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Martin Currie - Global Energy Fund
20 Apr 2009
Martin CurrieGlobal Energy Fund
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Mature students fuelling student property demand
15 Apr 2009
The current state of the jobs market is fuelling demand for student rental property as applications from older individuals wanting to attend university increase.
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McFall to speak at Ami Annual Dinner
16 Apr 2009
The Association of Mortgage Intermediaries has revealed that the Treasury Select Committee chairman John McFall MP is to speak at its Annual Dinner.
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Meteor launches latest kickout plan
15 Apr 2009
Meteor Asset Management has launched another tranche of its prima growth plan.
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Mexico $47 billion IMF credit line approved
20 Apr 2009
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Mexico $47 billion IMF credit line approved
20 Apr 2009
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Minister admits means- testing will hit buyback
16 Apr 2009
The Government admits it expects a low take-up of the option to buy back class three National Insurance contributions due to the negative impact of means-testing.
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Mix and match mission
16 Apr 2009
Launched in 2003, OPM has always focused on differentiating itself in the crowded multi-manager area, whether through direct equity expertise or technical market analysis.
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Money Portal open to outright sale
20 Apr 2009
Money Portal has confirmed it is open to an outright sale following a strategic review.
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Moody’s downgrades top UK building societies
15 Apr 2009
Moody’s Rating Agency has downgraded most of the top UK building societies thanks to severe credit losses in residential and commercial assets held by the mutuals.
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Moody's downgrades Gartmore
21 Apr 2009
Moody’s Investor Service has downgraded Gartmore after citing a significant deterioration of the firm’s balance sheet and profitability in 2008.
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Morgan Stanley FTSE plan extended
15 Apr 2009
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Mortgage brokers banned
16 Apr 2009
The FSA has banned Dorset mortgage brokers Peter and James Dean for regulatory failings, including submitting false mortgage applications and acting without authorisation.
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Mortgage rejections increase fourfold in two years
15 Apr 2009
Mortgage declines have increased by nearly 400 per cent in the past two years, according to moneysupermarket.com.
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Mortgages up by 4%, remortgages fall 20%
16 Apr 2009
Mortgages for purchase rose by nearly 4 per cent to 24,300 or £3.1bn in February from 23,400 in January but remortgages fell by 20 per cent to 35,000 from 44,000 in January, according to figures from the Council of Mortgage Lenders.
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Myners touts tax changes to bonds ahead of Budget
21 Apr 2009
Treasury minister Lord Myners has suggested changes in the taxation of bonds in investment trusts could be announced in tomorrow’s Budget.
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Nearly a million in negative equity, says CML
17 Apr 2009
The Council of Mortgage Lenders have found that as many as 900,000 mortgage borrowers are currently in negative equity.
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Negative numbers
17 Apr 2009
The Council of Mortgage Lenders' revelation that nearly a million homeowners are now in negative equity is more grim news for the already frozen housing market.
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Network chief told brokers to quit if they were owed
16 Apr 2009
Network Data chief executive Richard Griffiths advised appointed representatives who were owed commission by their mortgage networks to "jump before being pushed" in a mortgage trade publication over two years ago.
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Network Data cancels Marrakech trip
15 Apr 2009
Network Data has cancelled its trip to Marrakech for its top 20 appointed representatives and revealed there are two possible buyers for its broker networks.
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Network Data closes to regulated business
20 Apr 2009
Network Data has been closed to regulated business according to the FSA’s register.
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Network Data says business as usual for MBSL
21 Apr 2009
Network Data Holdings says it is business for usual for its Mortgage Broking Services Limited network after the FSA withdrew permission for the Network Data network.
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New Star Sterling Bond loses rating
16 Apr 2009
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No fee for active Sipp clients
16 Apr 2009
Hargreave Hale is offering a Sipp with no annual charge for active investors. Investors must generate over £250 commission a year to be eligible for the product. Pension admin will be outsourced to Dunstan Thomas.
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Novia appoints new regional sales manager for South West
16 Apr 2009
Novia has appointed Zurich’s Chris Skelhorn as its regional sales manager for South West.
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Open season to bring fair play to annuities
16 Apr 2009
Over the last year or so a huge amount of industry debate, especially in these pages, has been devoted to highlighting the open market option.
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Origen delays investment arm launch
16 Apr 2009
Origen client services director Mark Pearson says volatile market conditions have led to the firm delaying the launch of its investment arm.
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Over £70bn could be lent through advisers in 2009, says Ami
21 Apr 2009
The Association of Mortgage Intermediaries has predicted that half of the reckoned £145bn of mortgages lent in 2009 will go through advisers.
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Over 1,000 advisers sign up to Skandia's U-Skan tool
17 Apr 2009
Over 1,000 advisers have added their brand to Skandia’s portfolio analysis report in just four months.
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Pathfinder clears the way
16 Apr 2009
HM Treasury and the FSA have launched their £12m Moneymadeclear pathfinder initiative in the North-East and North West, targeting up to 750,000 people by 2010.
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Pearl Group plans £2bn flotation
16 Apr 2009
Pearl Group is aiming for a stockmarket float with a target market capitalisation of around £2bn, after which it intends to pursue acquisitions.
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Pensions in peril
16 Apr 2009
Will Aon's move to cut contributions be the death knell for decent workplace pensions?
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Pensions Regulator warns against fraud
20 Apr 2009
The Pensions Regulator has warned pension schemes that it will not hesitate to use its enforcement powers if it uncovers fraudulent or dishonest behaviour during the downturn.
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Platforms blasted on risk ratings
16 Apr 2009
An adviser has hit out at the way that platforms assess the risk of individual funds after a Zurich fund which was assigned a low-risk rating fell by almost 20 per cent in value.
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Poland requests IMF credit line
15 Apr 2009
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Positive fund from BlackRock
20 Apr 2009
BlackRock’s European absolute alpha fund aims to provide positive returnsacross all market conditions by investing in a portfolio of Europeanequities and equity-related securities, including derivatives.
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Post Office slashes jobless cover for PPI policies
16 Apr 2009
Advisers fear that the Post Office's decision to reduce cover for unemployment in its payment protection insurance policies may lead other firms to follow suit.
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Precious metals see unprecedented boom
15 Apr 2009
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Premier Asset Management - Premier UK 8% Income Plan
17 Apr 2009
Premier Asset ManagementPremier UK 8% Income Plan
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Property in Sipps to escape refinance tax charge
16 Apr 2009
HM Revenue & Customs will allow people with mortgages above 50 per cent on properties in a Sipp to remortgage without a tax penalty, according to the Association of Member-directed Pension Schemes.
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Quality quest
16 Apr 2009
This month, the International Monetary Fund will deliver its latest reviews of financial services regulation in Jersey and the Isle of Man, with a similar exercise for Guernsey due to be carried out in September this year.
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Queen approves new chair of the court of the Bank of England
20 Apr 2009
Sir David Lees has been appointed new chair of the court of the Bank of England, succeeding Sir John Parker.
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Regulator to probe turmoil at HBOS and RBS
16 Apr 2009
The FSA is to launch a formal investigation into the events that led to the problems at Royal Bank of Scotland and HBoS.
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Retirement Plus suspends new lending
21 Apr 2009
Retirement Plus has revealed it has had to suspended new lending while it negotiates its funding line.
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Retirements ruined by Barclays advisers singling out specialist fund
16 Apr 2009
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Roberts leaves Aviva to join Gartmore
17 Apr 2009
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Royal Liver becomes 16th Origo sponsor
16 Apr 2009
Royal Liver has become the 16th provider to sponsor Origo, joining the likes of Aegon, Friends Provident and Standard Life.
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Royal London appoints partnerships director for its intermediary division
16 Apr 2009
Royal London has appointed Bright Grey distribution director Andy Peters as its new national partnerships director for its intermediary division.
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RPI inflation turns negative
21 Apr 2009
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RPI inflation turns negative
21 Apr 2009
Britain's retail price index (RPI) inflation fell to a negative 0.4% in March on an annual basis, the first fall in retail prices since 1960.
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Schroder Income Maximiser switches sectors
21 Apr 2009
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Serve up higher net returns
16 Apr 2009
As anyone involved in the financial planning sector will know only too well, nervousness over investing, a desire to retain access to liquidity and a general feeling of uncertainty over what the future holds, all have a huge influence in decision-making.
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Shorn of living pension
16 Apr 2009
Zombie life funds have for years been a whipping boy for personal finance journalists, whether writing about pensions or any other with-profits investments. Their restrictions on investing in equities have made attacking investments in both closed and open with-profits funds like shooting fish in a barrel.
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Short notice
16 Apr 2009
I hardly need to say what a dire decade this has been for the UK stockmarket. We have now had two falls of 50 per cent in the stockmarkets and many clients will be disillusioned. That said, the further the market falls, the more confident I become about the long-term future. The trouble is that I cannot tell you if the market will fall further from here or if we have already seen the bottom.
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Short-term outlook for Star staff
16 Apr 2009
A number of New Star staff are to be placed on five-month contracts after the merger with Henderson.
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SimplyBiz Plus adds service for bigger IFA businesses
16 Apr 2009
SimplyBiz is offering a premium service, SimplyBiz Plus, designed to appeal to larger and more complex IFA firms.
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Skandia looks to GDP growth to benefit dynamic fund
16 Apr 2009
Skandia says that using gross domestic product growth rates rather than index weightings in geographical asset allocation should help its multi-manager global dynamic equity fund to outperform.
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Skandia takes a global view
20 Apr 2009
SkandiaProtected Portfolio Investment – Global Vista Fund
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Skills Council to review NOS financial advice standards
16 Apr 2009
The Financial Services Skills Council has launched a review of the existing National Occupational Standards for providing financial advice.
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Speakers at this year's Protection Review conference named
21 Apr 2009
Le Beau Visage has named the keynote speakers to appear at this year’s Protection Review conference in London.
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Spotting the stars
16 Apr 2009
The latest obsession to enter the life of my six year old son is collecting and swapping football cards. He spends hours each week poring over the statistics of players from every Premiership team, debating the relative merits of each with his fellow collectors.
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Standard says wrap sector oversupplied
16 Apr 2009
The UK wrap market is oversupplied and new launches are unlikely this year, warns Standard Life head of communications Mark Polson.
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Study critical of short selling bans
17 Apr 2009
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Sylvia Perrins appointed CEO of National Skills Academy for Financial Services
16 Apr 2009
The National Skills Academy for Financial Services has appointed Sylvia Perrins as chief executive officer with immediate effect.
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Taskforce wants IP kitemark to thwart 'hijackers'
16 Apr 2009
The Income Protection Task Force is pressing for an official kitemark to be created for genuine income protection products to stop providers "hijacking" the name to sell other types of cover.
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Tax and figures
16 Apr 2009
As we are in a new tax year, what do I need to be aware of in terms of the tax that I pay?
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TCF Centre sees membership surge
17 Apr 2009
TCF Centre, the customer feedback solution developed by FinQS, has seen a surge in its membership with 10 new firms signing up to its service in March.
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Tenet offers loans to members
17 Apr 2009
Tenet is making loans available to its member firms, as many businesses struggle to obtain credit from the banking sector.
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The art of due diligence
16 Apr 2009
In this maelstrom of invective towards bankers, I have to admit to some mixed emotions. Back in the 1980s, a young partner in a national accountancy practice helped me avoid one bad purchase and what would have been a disastrous sale of my firm. We stayed in touch and met up from time to time when he was in town dealing with a major liquidation.
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The only way is up
16 Apr 2009
After months of bad news the mortgage markets received some respite last month.
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There is no alternative to bonds, says Dennehy
16 Apr 2009
Dennehy Weller managing director Brian Dennehy says investors are piling into bonds as they face Hobson's Choice.
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Thinc networks to close - members offered chance to join Sesame
16 Apr 2009
Bluefin Advisory Services is to close its Thinc networks and has reached an agreement with Sesame to offer members the opportunity to join Sesame with "minimal disruption".
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Third of IFAs see increase in equity release for retirement income
16 Apr 2009
A third of IFAs saw an increase in clients using equity release to supplement retirement income over the last three months, according to Hodge Lifetime.
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Threesixty takes stake in IFA consolidator Bright
17 Apr 2009
Threesixty has taken a minority stake in IFA consolidator Bright Financial Services.
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Tories plan to break up banks that are 'too big to fail and too big to bail'
16 Apr 2009
The Conservatives would consider breaking up big state-owned banks such as Royal Bank of Scotland and Lloyds if they win the next election.
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Toxic trail
16 Apr 2009
One of Gordon Brown's favourite catchphrases, except when he is in the US, is: "This started in America." Fair comment. Most countries quite rightly blame the US for the global financial collapse despite being willing players as long as the illusion of prosperity lasted.
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Transact signs agreement with Calastone
20 Apr 2009
Transact has singed an agreement with Calastone Limited to become a member of the transaction network.
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Turner says greater supervision may not have prevented Dunfermline failure
17 Apr 2009
FSA chairman Lord Turner has written to Chancellor Alistair Darling to say that intensive supervision of Dunfermline may not have prevented the collapse of the building society.
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UBS to cut 8,700 by end 2010
15 Apr 2009
UBS will be cutting 8,700 jobs from its global workforce by the end of 2010.
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Unlocking lending
16 Apr 2009
American insurer Genworth has called on lenders to make use of mortgage insurance to help them increase lending.
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Vince Cable warns of "fear and vindictiveness" at FSA
17 Apr 2009
Liberal Democrat Shadow Chancellor Vince Cable has criticised the FSA for the perceived “climate of fear and vindictiveness” at the regulator, after a whistleblower refused to be identified.
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Vital role for Insight risk team
16 Apr 2009
Insight Investment says its risk management team is crucial to running its multi-asset funds and pricing structured products in volatile markets.
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Where, not what
16 Apr 2009
The Miton approach that generated positive returns in our balanced managed funds in 2008 is the unconstrained management of asset allocation. We believe fervently it is where one invests, rather than what one buys that determines the absolute return of a fund.
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Workshops focus on switching
16 Apr 2009
SimplyBiz and Clerical Medical are holding a series of 24 workshops throughout the UK to ensure members comply with the FSA's pension switching requirements.
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Wrap up winners
16 Apr 2009
People who have spare money to invest at the moment are presented with a tremendous and potentially unprecedented opportunity.
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Zurich Corporate Risk - Group Income protection
20 Apr 2009
Zurich Corporate RiskGroup Income protection
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Zurich enters initial commission market for corporate pensions
17 Apr 2009
Zurich has started offering initial commission on corporate pensions business for a limited number of high quality company schemes.
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Zurich offers its guaranteed capital account to advisers
15 Apr 2009
Zurich is now offering advisers access to its Zurich guaranteed capital account 23.
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Zurich to snap up AIG subsidiary
17 Apr 2009
AIG has reportedly agreed to sell subsidiary 21st Century Insurance to Zurich Financial Services in a deal worth £1.27bn.
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Zurich trialling initial commission on GPPs
17 Apr 2009
Zurich is running a pilot to determine whether to offer initial commission to advisers for corporate pensions.
