Money Marketing
15 April 2010
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Action group aims to stop Spark renewal
16 Apr 2010
An action group is urging Spark venture capital trust shareholders to vote against a resolution to extend the life of the VCT by five years.
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£103K fine for mortgage fraud
15 April 2010
The FSA has fined mortgage broker Gary Lester £103,000 for knowingly submitting 42 mortgage applications to lenders containing false income details and committing mortgage fraud to obtain a loan for himself.
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£6bn regulation cut dismissed as poll soundbite
15 Apr 2010
Financial advisers have hit out at Labour over “soundbite” tactics after it said it would cut £6bn from the cost of business regulation despite the FSA pushing ahead with costly financial services reforms.
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Abbey Intermediaries plans packaging reward for brokers
15 April 2010
Abbey for Intermediaries is to introduce a “carrot and stick” initiative that aims to reward efficient brokers who package their applications correctly.
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Adviser Fund Index
15 Apr 2010
Adviser Fund Index
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'Advisers are sleepwalking towards fines'
15 April 2010
FSA pension-switching advice review
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Aifa draws up a case study route to level 5
15 April 2010
Aifa has set out plans to launch a QCF level five qualification that gives advisers an alternative case-study route to meet the retail distribution review requirements.
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Alico adds fixedterm annuity to Select Portfolio
15 April 2010
Alico Wealth Management is offering a fixed-term annuity as part of its new Select Portfolio product range.
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Alternative for Park Row advisers
15 April 2010
REMUNERATION
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Alternative for Park Row advisers
15 April 2010
I imagine that most IFAs feel deeply sympathetic towards the plight of those ex-Park Row advisers whose re-authorisation the FSA appears to be prolonging without explanation. One can only surmise that the thinking of the FSA is that the victims a will eventually give up hope and drop all ambitions to resume their roles. One wonders how quickly their applications would be whisked through if the proposed new hostcompany was a bank.
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Asian income for Schroders
15 April 2010
Schroders is to launch an Asian income maximiser fund to give access to capital growth with high exposure to Asian ex Japan equities.
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Ballot points
15 Apr 2010
Rachel Vahey says the next Government needs to take a long-term outlook
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Big fines for Rock pair over arrears data
15 April 2010
The FSA has fined former Northern Rock deputy chief executive David Baker £504,000 and ex-managing credit director Richard Barclay £140,000 for misreporting mortgage arrears figures.
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Black backs 24-hour 85-mile challenge
15 April 2010
Olympic silver medallist Roger Black, MBE, is urging financial services staff to sign up for the Scottish Widows Parish Walk 2010 Charity Challenge.
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Bolton hails £460m China fund launch
15 April 2010
Industry experts have hailed the launch of Anthony Bolton’s Fidelity China special situations fund a success despite it failing to reach the £650m raising target.
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Brown pledges to crack down on bankers
15 April 2010
Prime Minister Gordon Brown has promised to give the FSA powers to quash bankers contracts if Labour is re-elected.
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Cap in hand
19 Apr 2010
Carl Stick does not follow the herd and his Rathbone income fund has mixed large and small company exposure successfully
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Cash details lacking for care service
15 April 2010
The Labour manifesto fails to answer questions over how it will fund a national care service.
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Class actions axed from act but FSA gets review powers
15 April 2010
Plans to allow group actions against financial services firms have been dropped from the Financial Services Act but the FSA is to get new powers to launch widespread sales reviews.
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Collateral linking
19 Apr 2010
James Smith considers 10 years of ETFs and says one of the big changes after the mayhem with counterparty risk has seen some providers moving to collateralisation
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Consolidator offers options for IFA firms
16 Apr 2010
A new IFA consolidator is looking to take over client books or help firms adapt their business model ahead of the retail distribution review.
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Credit Suisse is fined £1.75m for data failures
15 April 2010
The FSA has fined three firms a total of £4.2m for failing to provide accurate and timely transaction reports.
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Cut out the confusion
16 Apr 2010
“Will bank customers understand the difference between restricted and independent when it is now not necessary to inform a client receiving restricted advice that independent advice available also?”
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Differentials thwart FTBs
16 Apr 2010
Paul Thomas reports that first-time buyers are still being kept out of the market by LTV pricing
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Double by-pass confuses points on perpetuity
19 Apr 2010
John Woolley, a director of Technical Connection, says an amendment to the Perpetuities and Accumulations Act 2009 has brought new complexity
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Emerging earnings
15 Apr 2010
The fundamentals point to a continued and growing outperformance in China and across the Far East
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Employers could face jail over commission rebates
15 Apr 2010
Employers could face unlimited fines and two years in jail for taking rebates from corporate advisers setting up pension schemes for their employees.
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Ex-Schroder star Clough joins Japan specialist Morant Wright
15 April 2010
Clough: ‘Tremendous reputation’
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F&C use vol edge to smooth market spikes
15 April 2010
Multi-manager View
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Fight to keep consumer choice
15 Apr 2010
“As if the financial services industry does not have enough problems with real issues, we have a regulator intent on solving imaginary problems.”
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First-time unlucky
15 April 2010
Both people buying a property jointly must be FTBs to qualify for the Budget threshold rise in stamp duty
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Forum will discuss protection issues
15 April 2010
Consultancy firm Finance and Technology Research Centre has launched a protection forum to address operational issues in the protection market.
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Friends and Aviva in commission clash
15 Apr 2010
Friends Prov chief exec Trevor Matthews sparks row with Aviva after suggesting commission-paying firms may stop paying commission on existing group pension business post RDR.
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Friends ready for a new third generation
15 Apr 2010
Friends Provident chief executive Trevor Matthews has let slip that Resolution is targeting a major annuity player for its next acquisition.
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FSA says tied firms blocking switches
16 Apr 2010
The FSA has slammed tied firms for failing to investigate customers’ existing pension arrangements, under its review into pension switching advice.
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Fsa sets a high standard
19 Apr 2010
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Generic election
15 Apr 2010
“Does anyone seriously believe that any party winning the next election will make a significant difference to the way the country is run?”
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Growing places
19 Apr 2010
Lee Jones reports that the RDR and wider availability through fund supermarkets are set to increase ETF business
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Hedge cover
15 April 2010
T Bailey’s Philippa Gee says multi managers always have to be aware of the FX markets
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Henderson multi-managers take a put
15 April 2010
Henderson multi-manager duo Mark Harris and Craig Heron have bought a put option on the FTSE 100. Harris says the team expects a 5 to 10 per cent correction in the short term.
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IFA firms may have to pay back £150m
15 April 2010
FSA pension-switching advice review
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IMA urged to set up SRI fund sector
16 Apr 2010
Aberdeen multi-manager fund manager Scott Spencer has called for the Investment Management Association to form a new sector for socially responsible funds.
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Industry standard needed for download documents
15 April 2010
THE EDITOR’S COMMENT OF THE WEEK
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Is this election irrelevant?
16 Apr 2010
Brian Tora says the underlying problems that might harm markets will be the same, whoever wins the election.
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Kick out the plans
16 Apr 2010
Hannah Stodell reports that product providers are struggling to understand the HMRC’s kick-out warning
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KMC to pay £2.2m for failings over arrears
15 April 2010
The FSA has fined a second client of third-party mortgage servicer HML for poor treatment of customers in mortgage arrears.
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Lake to run Aviva high-yield bond fund
15 April 2010
Andrew Lake has joined Aviva Investors, replacing Chris Higham, to take on the high-yield bond fund. Higham will continue as lead manager on the firm’scorporate bond fund.
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Lloyds bank manager jailed for fraud
16 Apr 2010
A Lloyds TSB bank manager who defrauded clients out of more than £300,000 has been jailed for four years.
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Macquarie adds trio
15 April 2010
Macquarie Funds Group has launched three Ucits III funds into the UK retail market - Macquarie emerging markets opportunities, emerging markets infrastructure and Rogers China agriculture.
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MM Leader: Fee reform needed to reflect realities of the industry
15 Apr 2010
We hope the FSA will listen to Aifa’s campaign to challenge the way its budget is set on the basis that IFAs are paying disproportionately high fees.
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Morningstar in £12m deal for Old Broad St
15 April 2010
Morningstar UK has bought Old Broad Street Research for £11.95m.
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Muddied waters on advice line
15 April 2010
ADVICE
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Neil Warman
16 Apr 2010
HML’s chief commercial and finance officer says the crunch has opened up big opportunities for mortgage admin firms and he believes the financial crisis has also meant that companies now have a clearer picture of how to deal with borrowers in arrears Interview by Lee Jones
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No hiding place
15 Apr 2010
Advisers must ensure they meet the what you see is what you get requirements of the RDR
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Northern Rock could become a mutual again
15 April 2010
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Obligation overhaul
14 Apr 2010
A Tory Government could end the age 75 rule and bring in cash
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OPM raises exposure to US small caps
15 April 2010
Multi-manager OPM Fund Management has increased its US exposure within its portfolio of funds and is backing smaller companies to outperform.
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OUT OF CONTEXT
15 April 2010
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Pension earnings’ link would be restored three years early
15 April 2010
The basic state pension would rise in line with earnings from 2012 rather than waiting until 2015 when it is is required by law, if Labour wins the general election.
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Pension priority is a challenge for IFAs
15 Apr 2010
Sally Keeble, a former Treasury select committee member, sets out Labour’s policies for pensions
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Pica presses for wake-up to rule out reflex purchase
15 Apr 2010
Group wants wake-up pack changes so clients can no longer buy annuity from existing pension provider simply by putting their signature next to the quotation.
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Premier funds are sticking with sterling
15 April 2010
Multi-manager View
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Pru annuity director changes role
15 Apr 2010
Prudential director of pensions and annuities Karin Brown has seen her role made redundant but has been appointed to a new position within the business as a retirement income actuary.
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Replica kits
19 Apr 2010
Samantha Downes finds that some advisers insist on full replication to invest in ETFs
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Sign up to get expert advice on RDR at our roadshows
15 April 2010
Money Marketing is hosting a series of RDR roadshows across the country with presentations from leading advisers, including Informed Choice managing director Nick Bamford and Churchill Investments director Chris Gilchrist.
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Strategy success
16 Apr 2010
The IFP’s view
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Strength of emerging debt
19 Apr 2010
10 minutes with Investec’s Philip Eerdmans.
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Sweet charity
16 Apr 2010
” A growing number of investment products featuring a charitable aspect are creating a wider need for advice.”
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Switching referral service for IFAs
15 Apr 2010
Online pension adviser Comparemypension.com is offering a pension-switching referral service for IFAs.
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The cost of pricing-in
16 Apr 2010
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The last tax saloon
15 Apr 2010
A parable illustrates the folly of higher-rate restrictions
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Tories would balance out new regulation
15 April 2010
Conservative election manifesto
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Tough lessons
16 Apr 2010
Advisers need to stay focused on the profitability and direction of business says PMS’ John Cupis
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Tougher rules aim to bring takeover clarityInvestment returns for pension
15 April 2010
Investment returns for pension funds and shareholders investing in struggling firms could fall as a result of Labour proposals to bolster rules on takeovers.
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Towry Law claims court order against ex-Ed Jones' advisers
15 April 2010
Towry Law has been granted a court injunction against Raymond James Investment Services Limited and six former Edward Jones financial advisers who have joined RJIS.
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Transparently unclear
15 April 2010
PLATFORMS
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Triple jump
15 Apr 2010
A new three-step process could improve pension choices
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U Party fields candidates for pension reform
15 April 2010
The U Party, the special interest party campaigning for pension reform, has announced its second Parliamentary candidate.
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UK income losing out to global funds
16 Apr 2010
M&G managing director global sales Jonathan Willcocks says he is seeing money come out of the UK equity income sector as a result of growth of multi-asset and global equity income funds.
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Under the influence
19 Apr 2010
The previously overriding tax attractions of pensions are likely to be diminished by restriction of higher-rate relief
