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Money Marketing Cover

15 October 2008

Money Marketing

  • 2Plan rebrand and growth strategy

    16 October 2008

    National IFA firm 2plan has rebranded as 2plan Wealth Management and launched a growth strategy designed to triple turnover to £9m by the end of 2009.

  • 380,000 waiting for boost as pent-up mortgage demand grows

    16 October 2008

    There could be as many as 380,000 potential homeowners waiting for the mortgage market to improve.

  • 7IM looks to next year for a turn-round in markets

    16 October 2008

    Seven Investment Management is boosting cash levels and shifting to euro government bonds to preserve client capital in volatile markets.

  • A few points in favour of retirement alternatives

    16 October 2008

    I read with interest Harry Katz's recent article on variable annuities or third-way products. He presents a cogent argument in a number of areas but I feel that it only right to put the other side of the argument to ensure a fair balance.

  • A new venture

    16 October 2008

    I rarely recommend buying venture capital funds, but the current financial crisis means entrepreneurs are now expecting much less money for a stake in their business as they are finding it harder to raise money and borrow from banks.

  • A perspective on hindsight

    16 October 2008

    The Financial Ombudsman Service is saying some things about the current financial crisis which should be of comfort to advisers.

  • ABI firms up insurance regulation principles

    17 October 2008

    The Association of British Insurers has teamed up with global insurance supervisors to outline the key principles which insurance regulation should be based upon.

  • Adviser Fund Index

    16 October 2008

    The global financial turmoil has not surprisingly prompted investors to increase the level of caution in their portfolios. The Investment Management Association's fund statistics for August show that the most popular sector for the third consecutive month was absolute return. The most popular UK-domiciled Isa sector was guaranteed protected funds.

  • Advisers must now look to technology in order to evolve

    16 October 2008

    1st-The Exchange managing director David Child is urging IFAs to review their technology proposition to enable them to take full advantage of worsening economic conditions.

  • Aifa welcomes Lord Turner’s comments

    17 October 2008

    Aifa says it welcomes comments made by FSA chairman Lord Tuner regarding the intermediary community in his latest interview with the Financial Times.

  • AIG reveals over £1bn of withdrawal requests from enhanced fund in one day

    20 October 2008

    Over £1bn of withdrawal requests were made from the AIG enhanced fund in one day before the firm was rescued by the US Government.

  • AIG says enhanced fund freeze not due to block withdrawals by private banks

    16 October 2008

    AIG Life UK says the freeze on withdrawals from its enhanced fund was not prompted by block withdrawals from private banks with discretionary mandates, following concerns raised by some IFAs.

  • AIG to brief IFAs on enhanced fund this Friday

    15 October 2008

    AIG is hosting a seminar for IFAs with clients invested in the enhanced fund on Friday to help them choose between the maturity option or exit plan.

  • AJ Bell calls for IOM Treasury clarification on Sipps and Ssas

    17 October 2008

    AJ Bell has written to the Isle of Man Treasury requesting urgent clarification of the regulation surrounding Sipps and Ssas deposits relating to whether an individual is covered.

  • Arc to dispose of structured product arm as part of MBO

    20 October 2008

  • Are the protection cogs finally turning?

    21 October 2008

    News that unemployment levels are set to soar by 330,000 to 2.12 million by the end of next year could see the consumer protection cogs start turning.

  • Aviva says terms of reattribution deal may change due to market conditions

    20 October 2008

    Aviva says the terms of its £1bn reattribution payout may now change due to the current market conditions.

  • Axa Winterthur wealth management business launches

    16 October 2008

    Axa Winterthur has announced the launch of its new wealth management business.

  • Back to the future

    16 October 2008

    We are in the middle of a financial storm and coping with its impact is the current focus of regulators, product providers, fund managers, advisors, clients, journalists and politicians.

  • 'Bailout could have been avoided with BoE cash'

    16 October 2008

    The Bank of England should have injected more into the special liquidity scheme in April to avoid the Government's banking bailout this week, says The Mortgage Practitioner sole trader Danny Lovey.

  • Bailout flaws could lead to more bank nationalisations, says New Star

    15 October 2008

    The “penal conditions” of the UK banking bailout could lead to further full bank nationalisations, according to New Star.

  • Banking bailout resembles 1992 Sweden, says Matterley's Dixon

    16 October 2008

    Matterley undervalued returns fund manager Henry Dixon says the Government bailout of the UK banking system could be the solution if history repeats itself.

  • Banks need to pay as much as IFAs, says Turner - IFA comments

    17 October 2008

    Banks' FSA fees are proportionately too small in relation to the fees paid by IFAs, according to the FSA chairman Lord Turner.

  • Basic state pension to rise by 5%

    16 October 2008

    The basic state pension is to rise from £90.70 a week to £95.24 next April, triggered by the retail price index hitting 5 per cent.

  • Bayliss points to ways around 75 rule

    16 October 2008

    Annuity Direct director Stuart Bayliss say it is a "red herring" that people are forced to annuitise at 75 and att- acked the Conservatives' call.

  • BDO Stoy Hayward builds up Fof team

    16 October 2008

    BDO Stoy Hayward has bolstered its alternative fund of funds team with the appointments of John Smutniak, Dev Jadeja and Rahul Saito.

  • Bestinvest reshuffle after departures

    16 October 2008

    Bestinvest is restructuring its investment management division.

  • Black Rock report on US market and the credit crunch

    15 October 2008

    Fulll report by Bob Doll global chief investment officer and Peter Fisher co-head fixed income portfolio management group

  • Bolton blasts benchmarking

    16 October 2008

    Former Edeus chief executive Michael Bolton has hit out at the Government for trying to "benchmark" its future mortgage lending on 2007 figures.

  • Bolton hints at return to buy back stricken firm

    16 October 2008

    Edeus went into administration last week in a move that has resulted in chief executive Michael Bolton leaving the firm while other staff remain in the short term to see if a buyer can be found.

  • Bonham Carter sees move back to basics

    16 October 2008

    Jupiter chief executive Edward Bonham Carter believes that returning to back to basics investing will be one of the enduring themes of the credit crunch.

  • Brave and the bold

    16 October 2008

    Writing a column a week in advance is fraught with danger at the best of times. It is especially so now given the incredible speed with which the market is moving. However, I do feel that the politicians have finally woken up to what is going on and the move to recapitalise the banks should be some help. Despite this, I am convinced that a recession is unavoidable - in fact we are probably already in recession.

  • Broker Talkback

    16 October 2008

    Are the Tories right to call for a relaxation of enforced annuitisation rules due to the current financial crisis?Yes 100%

  • Bupa tele-interviewing service goes live

    15 October 2008

    Bupa Individual Protection has unveiled its plans to go live with its tele-interviewing pilot.

  • CAB sees 51% surge in calls over loan arrears

    16 October 2008

    Citizens Advice Bureau figures show a 51 per cent increase in mortgage and secured loan enquiries for July to September compared with last year.

  • Campaign support

    16 October 2008

    Have you seen the front page of Google? Type in "life insurance" and you will find the country's biggest financial marketers herded in the rankings like so many elephants on a bus. None of them gave it the time of day a few months ago. They spent their search engine optimisation marketing budget in other more exciting financial services areas.

  • Cash warning on offshore bonds

    16 October 2008

    A leading international IFA has warned that cash deposits held within offshore life insurance bonds will be deemed as a corporate investment and could fall outside local investor protection regulations in the case of a bank becoming insolvent.

  • CC issues further PPI consultation paper

    15 October 2008

    The Competition Commission has issued a further consultation paper outlining the views of all interested parties regarding its investigation into the miselling payment protection insurance.

  • Charities attack Northern Rock repossession rate

    17 October 2008

    Credit and housing charities have hit out at Northern Rock for it’s “aggressive” repossession strategy.

  • Clerical makes first move into mutual funds

    16 October 2008

    Clerical Medical is setting up a new investment operation which includes 18 new funds.

  • Cofunds expects increase in structured products on Platform

    15 October 2008

    Cofunds has revealed it is expecting to see an increasing number of structured products coming on to its platform.

  • Conforto acquires Christie Scott's

    15 October 2008

    Conforto Financial Management has acquired Julie Hedge’s firm ChristieScott’s for an undisclosed sum.

  • Continued from p31

    16 October 2008

  • Cousins in clash with Treasury on lending levels

    16 October 2008

    Treasury select committee mem- ber Jim Cousins has challenged the Government's push for a return to 2007 lending levels at a time when nationalised Northern Rock and Bradford & Bingley are managing their loanbooks more stringently.

  • Dragons’ Caan and ex-Skandia director launch new investment management firm

    20 October 2008

    Dragons' Den panellist James Caan and ex Skandia sales and marketing director Spike Hughes have joined forces to launch Insynergy Investment Management.

  • EEA futures fund targets up to 20% return

    16 October 2008

    The Equity, Environmental and Alternative investment group has expanded its product range with a futures fund.

  • Ex-Pru chief to head MGM marketing

    16 October 2008

    MGM Advantage has appoin-ted Lynsay Dickinson as head of marketing. She joins the firm from Prudential.

  • F&C offers derivatives-based fund

    16 October 2008

    F&C has launched a derivatives-based investment fund to provide investors with an alternative to traditional and volatile asset classes.

  • Final countdown

    16 October 2008

    Finance directors have been getting a string of conflicting messages on pensions lately, but their gut reaction to what the financial turmoil means for defined-benefit pensions is likely to be to "get those liabilities off my book". For all but the bluest of blue-chip firms, private sector final-salary schemes are now entering the last chapter.

  • Firms fined £45k in crackdown on Teps

    16 October 2008

    The FSA has fined two adviser firms a total of £45,500 for failures over advice on geared traded endowment policies, the first punishments handed out as part of the regulator's review of Teps.

  • Former cru CEO sets up absolute return offering

    17 October 2008

    Former cru CEO Stuart Anderson is to launch a new balanced cautious managed fund for both retail and institutional market.

  • FSA fails on human rights claim in Lautro rate case

    16 October 2008

    The FSA has failed in a bid to use human rights legislation guaranteeing individual privacy to stymie a freedom of information request about the "Lautro 12" life offices.

  • FSA says data security is biggest risk in crime fight

    16 October 2008

    The FSA has revealed that poor security on customer data is the biggest risk to its objectives in tackling financial crime.

  • FTSE 100 slumps toward 4,000

    15 October 2008

    The FTSE 100 has shed over 7 per cent of its value today as investors remained nervous that government action would not prevent a prolonged economic downturn.

  • FTSE gains 2% but economic fears persist

    17 October 2008

    The FTSE 100 advanced by 2 per cent by midday as investors gained confidence from strong performances on the US and Asian markets overnight.

  • FTSE gains flatten with uncertainty in banking sector

    21 October 2008

    Shares on London’s FTSE 100 opened up 1.33 percent higher today as the index gained 57.17 points from yesterday’s close of 4282.67 to 4,339.84 points.

  • Full protection for savers following Landsbanki default

    16 October 2008

    Around 180,000 UK retail deposits in Landsbanki subsidiaries Heritable and Kaupthing Singer & Friedlander have been fully guaranteed by the Treasury and the Financial Services Compensation Scheme.

  • Furore at Nelson's call to ban structured products

    16 October 2008

    Nexus Independent Financial Advisers director Kerry Nelson has called for a blanket ban on structured products in the retail market on the grounds they are too complicated for advisers and clients to understand.

  • G8 agree to summit on global financial reforms

    16 October 2008

    The leaders of the G8 have agreed to hold a summit to discuss global financial reforms.

  • Gartmore puts absolute return fund on hold

    16 October 2008

    Gartmore has postponed the launch of its European absolute return fund because of the turbulent market conditions.

  • Going, going, gone

    16 October 2008

    Over the last few weeks, being a professional investor has been by turns dispiriting and exhilarating. It has even, on occasion, been profitable. But it has rarely been dull.

  • Government and LGA reassure Icelandic depositors

    15 October 2008

    The Government and Local Government Association have issued a joint statement reassuring the 13 councils that have invested in Icelandic banks.

  • Govt looking at Tory call to suspend forced annuitisation at 75

    16 October 2008

    The Government has said it is looking at Conservative proposals to temporarily suspend forced annuitisation at 75.

  • Gross mortgage lending drops to 2001 figures

    20 October 2008

    Gross mortgage lending for September fell to its lowest level since 2001 according to the Council of Mortgage Lenders.

  • Guy Batchelor joins Countrywide

    17 October 2008

    Countrywide has appointed former Lehman Brothers vice president Guy Batchelor as its new corporate business director.

  • Hargreaves questions FSA stance on banks and predicts monster recession

    17 October 2008

  • Has Adair Turner signalled the end of the light-touch, principles-based FSA?

    17 October 2008

    On the news bulletins, the FSA chairman Adair Turner exudes confidence, purpose and a determination to put things right where they have gone wrong.

  • Henderson says it won't hit target

    16 October 2008

    Henderson Group is warning that it will not hit this year's profit target of £90m.

  • History repeating itself

    17 October 2008

    It may seem like Armageddon is here, but it's a comfort to know that this isn't the first time that Britain has been disabled by a huge economic shock. We have suffered before, and we have survived.

  • HNW boutique for AWD Chase de Vere

    16 October 2008

    AWD Chase de Vere has launched a new standalone business in its Leeds office, offering a fee-based service to high-net-worth clients.

  • Hornbuckle Mitchell says Government made u-turn on ASPs

    21 October 2008

    Hornbuckle Mitchell wants the Government to confirm it has formally dropped its stance that Alternatively Secured Pensions should only be used by those with a ‘principled religious objection’ to buying a lifetime annuity.

  • Hornbuckle Mitchell warns of catch over new rules on protected rights

    20 October 2008

    Hornbuckle Mitchell is warning IFAs that there is confusion surrounding the transfer of protected rights funds into Sipps.

  • Horse sense

    16 October 2008

    Imagine Johnny Vegas on a donkey in the Grand National. Now imagine him winning. And that is where it all breaks down. Simply picturing a donkey strong enough to heave the 18-stone comedian around the four-and- a-half mile course was as far as it was fair to ask any imagination to stretch.

  • IFA predicts shorting rules will be relaxed

    16 October 2008

    European regulators are likely to bow to pressure from the fund industry to relax short-selling rules when turmoil on the global financial stage subsides, IFA AES International is predicting.

  • IMS rebranded as FundQuest

    16 October 2008

    IMS Ltd has been rebranded as FundQuest UK, with current chief executive Antony John also taking on the head of marketing and communication roles.

  • Insurers still baffled by pregnancy directive

    16 October 2008

    The Association of British Insurers says its members are still no nearer to understanding the effect of the forthcoming European Union ban on taking pregnancy into account when underwriting.

  • Intermediaries say crunch has undermined ‘whole of market’ sourcing

    20 October 2008

    UK intermediaries have admitted that as a result of the downturn in the mortgage market, their whole of market position has been undermined.

  • Investors would opt for performance-related fee

    16 October 2008

    Over a quarter of investors would choose to pay a performance-related fee rather than a one-off up-front payment, according to research from JP Morgan Asset Management.

  • Is it safe?

    15 October 2008

    This week someone sent me a horrible youtube clip from the film Marathon Man - the scene where Dustin Hoffman is being tortured by Laurence Olivier's psychopathic, nazi dentist.

  • James and the giant pension

    16 October 2008

    My adviser is telling me that I should consider consolidating my existing pension arrangements into a self-invested personal pension. What advantages can this bring?

  • John Spiers returns to Bestinvest

    21 October 2008

  • Just Retirement tops Sesame list

    16 October 2008

    Just Retirement has retained top spot in Sesame's Provider Service Index for the third time in a row while Scottish Provident came bottom and Axa second bottom.

  • Justin Urquhart Stewart's market view

    17 October 2008

    "Back in the USSA"

  • Landsbanki Guernsey savers cannot assume they will recoup all their money, says Deloitte

    17 October 2008

    Landsbanki Guernsey savers have been offered a preliminary pay out of 30p per pound by administrator Deloitte & Touche for the £12.7m they had deposited with the bank but have been warned that they may not recoup all their money.

  • Lehman's terms

    16 October 2008

    Former staff of investment bank Lehman Brothers face a wait to see how much of their accrued pension they are going to get. Could this happen to other firms and, if so, how can advisers help their clients understand the risks?

  • Locking horns on a dilemma

    16 October 2008

    The FSA has been overruled by the Information Commissioner's Office in a recent decision compelling it to disclose information obtained while exercising its regulatory duties. What is the significance of the ruling and how could it affect the regulator's role in the future?

  • Media pension coverage prompts fears

    16 October 2008

    Some aspects of the consumer media coverage of the financial crisis are causing concern over the effect on pension savers.

  • Meeks to leave Pink

    15 October 2008

    Pink Home Loans have revealed that its chief executive Barry Meeks is to step down.

  • MetLife rides out storm by keeping it simple

    16 October 2008

    Metlife says it has weathered the financial storm that hit AIG by staying away from complex investment devices and concentrating on insurance.

  • MGM Advantage says talk of annuity age limit clouds real issues

    17 October 2008

    A debate over temporarily abolishing the age 75 rule clouds the real issues affecting UK pensioners, according to MGM Advantage.

  • Mike Kellard

    16 October 2008

    This week sees the culmination of nearly two years of work for Axa Winterthur Wealth Management chief executive Mike Kellard.

  • Money Partners axes directors

    17 October 2008

    Money Partners has axed 10 staff, including several high level directors in the face of continuing market upheaval.

  • Moody’s waits on Britannia Co-op talks

    15 October 2008

    Moody’s rating agency says it is holding steady on any ratings action regarding the assets of both Britannia Co-operative bank.

  • More investors will return funds to UK for added Govt protection, says Grant Thornton

    17 October 2008

    Business and financial adviser Grant Thornton says HM Revenue & Custom's clampdown on offshore investors will heighten as more investors move funds back to the UK to guarantee protection on savings up to £50,000.

  • Mortgage firm directors fined £60,000

    16 October 2008

    The Financial Services Authority has fined two directors from Abbey Mortgages Ltd for failings over self cert mortgages.

  • Mother's nature

    16 October 2008

    Many of us who pontificate about personal finance issues, whether in the media or as IFAs, often tend to do so in a vacuum.

  • MP's packs aim to offer help

    16 October 2008

    Labour Treasury select committee member Andy Love is providing financial information packs to struggling residents in his constituency Edmonton.

  • NAPF says UK rules are 'out of sync' with other countries

    16 October 2008

    The National Association of Pension Funds has outlined four areas where it believes UK pension regulation is out of sync with international practice.

  • Nationwide axes UCB arm

    20 October 2008

    Nationwide has revealed it is to cease new trading with its specialist lender, UCB Homeloans.

  • New testament

    16 October 2008

    Last week, I took an introductory look at the Conservatives' proposed £1m nil-rate band for each of a couple. Let's look in detail at what the introduction of a transferable £1m nil-rate band might have on a selection of key investor categories.

  • No quick fix

    16 October 2008

    It is a sure sign that a crisis is afoot when the politicians start showing cross-party support for each other. George Osborne, Conservative Shadow Chancellor, and Vince Cable, Liberal Democrat Shadow Chancellor, recently visited the Treasury in a "spirit of co-operation".

  • Norwich Union introduces MVRs on with-profit policies

    21 October 2008

    Norwich Union has introduced market value reductions on unitised with-profit policies due to investment market conditions over recent months and the continuing uncertainty.

  • Norwich Union reinstates twice-monthly valuations on property funds

    16 October 2008

    Norwich Union is re-introducing twice monthly valuations across its property fund range.

  • Novia wrap goes live

    15 October 2008

    Novia Financial’s new wrap platform is now live and has accepted its first case.

  • NU cuts its IFA commission rates on Portfolio Bond

    20 October 2008

    Norwich Union has announced that it is to slash its IFA commission rate across its Portfolio Bond sales by 1 per cent.

  • NU says 119 Ssas customers affected by IoM based Icelandic bank subsidiary

    17 October 2008

    Norwich Union has confirmed that 119 Ssas customers have money invested in Kaupthing’s Isle of Man subsidiary Singer and Friedlander.

  • OFT wants FSA to regulate sale and rentback

    16 October 2008

    The Office of Fair Trading is calling for the FSA to regulate sale and rentback providers due to the risk of "serious and permanent" consumer detriment.

  • One day at a time

    16 October 2008

    October, that most capricious of months, is once again providing investors with testing conditions. In 1929, we suffered a stockmarket crash - in October. Black Monday in 1987 took place on October 19. It seems we have to add 2008 to the list of stockmarket disasters that have taken place in October. It was not, with the benefit of hindsight, the best of times for me to announce I was compiling a list of shares to buy but it might yet prove a propitious time to plan such a manoeuvre.

  • Origen revamp could mean 50 job cuts

    16 October 2008

    Origen support services director Keith Robinson says the decision to reshape the business is likely to result in around 50 redundancies by the end of Q1 2009.

  • Passive resistance would aid consumers

    16 October 2008

    I agree with Peter Mann in the October 9 edition of Money Marketing that, post-RDR, there will be a vibrant but possibly smaller IFA community.

  • Past couple of days are likely inflection point for markets - Mott

    15 October 2008

    PSigma income manager Bill Mott believes the global action seen in the past few days is likely to mark an inflection point in markets.

  • Pension scheme assets of Lloyds TSB and HBOS outweigh company sponsors

    16 October 2008

    Huge share price falls in recent times mean that pension scheme assets of Lloyds TSB and HBOS are now bigger than the companies sponsoring them, according to figures obtained from Pension Capital Strategies.

  • Personal issues

    16 October 2008

    As part of the recent Government's reshuffle, former transport minister Rosie Winterton replaced Mike O'Brien as pensions minister. The reshuffle also saw Personal Accounts Delivery Authority chairman Paul Myners join the Government as City minister, with Pada non-executive director Jeannie Drake appointed in his place as temporary chairman.

  • Pressure grows for change to annuities

    16 October 2008

    Pressure is growing for a permanent change to compulsory annuitisation following Conservative calls for a temporary relaxation because of the financial crisis.

  • Prices fall 12% as sales plunge

    16 October 2008

    House prices dropped by 1.3 per cent in September, making it the smallest monthly fall for seven months, according to the Halifax house price index.

  • Problem of picking the right platform turns IFAs off wrap

    16 October 2008

    Paradigm senior partner Paul Hogarth says IFA firms must adopt wrap to survive but believes many are being held back by the magnitude of the decision to choose a platform.

  • Protection could see mass exodus

    16 October 2008

    Firms which have sold protection policies without explaining their true value could see widespread cancellations as people tighten their belts, warns Aegon PR manager Mark Locke.

  • Pru confirms AIG interest

    21 October 2008

    Prudential group chief executive Mark Tucker has confirmed that the insurer is looking at AIG’s Asia operations.

  • Pru looks to raise capital to finance AIG Asia deal

    20 October 2008

    Prudential is looking to raise capital from investors to help finance an offer for parts of fallen global insurer AIG, according to press reports.

  • Pru reduces lifetime loan LTV levels

    16 October 2008

    Prudential is cutting the maximum loan to value on its lump sum lifetime mortgages by 5 per cent due to falling property prices but brokers believe it will not have a big impact on the market.

  • Public sector pensions worth more than private counterparts

    16 October 2008

    Public sector pensions are still more valuable than most private sector pensions even after the Government’s reforms back in 2002, according to the latest research from the Pension Policy Institute.

  • Public versus Private Pensions

    16 October 2008

    The debate on the merits of public versus private pension schemes rages on following the publication of the Pension Policy Institute¹s latest research today.

  • Put it on the state

    16 October 2008

    We are entering a world of unprecedented Government influence and power over banks. HSBC and Santander can probably do it on their own, Barclays say they can as well but RBS, Lloyds and HBOS are taking the support. Let's hope it brings about the much needed change in levels of confidence to markets and to banking although a lot depends on news from elsewhere.

  • PwC urges preparation for pensions exit

    21 October 2008

    Companies and trustees are being too reactive in taking pension scheme buy-outs off the table as a result of market turbulence, according to PricewaterhouseCoopers.

  • PwC's tips on how to manage impact of market turbulence on pensions

    16 October 2008

    PricewaterhouseCoopers has issued tips on how to manage the impact of market turbulence on the UK pensions market.

  • Rate cut makes little dent in interbank confidence

    16 October 2008

    Continuing mortgage tracker rate rises have revealed the lack of impact that the 0.5 per cent cut in the Base Rate has had in the face of Libor rates.

  • Rathbones sees assets fall

    16 October 2008

    Rathbones Investment Management has been hit by a 20 per cent fall in unit trust AUM over the past three months.

  • Retirement confidence at three-year low

    16 October 2008

    Two in five Britons are not confident that they will be able to provide for a comfortable retirement, according to Alliance Trust Savings research.

  • Revenue widens search for gifts

    16 October 2008

    HM Revenue & Customs is to collect and collate from other sources other than inheritance tax returns to crack down on gifts.

  • Rochussen to replace Pease as JOHCM chief

    16 October 2008

    JO Hambro Capital Management has appointed Gavin Rochussen as chief executive.

  • Rock and B&B books may be merged

    16 October 2008

    Northern Rock chairman Ron Sandler has admitted that the Government may combine the mortgage books of Northern Rock and Bradford & Bingley.

  • Safe havens dominate Cofunds sales

    15 October 2008

    Cofunds says September saw the biggest shift away from cautious managed funds for the past 12 months as advisers look to bonds and gilts as safe havens for investors money.

  • Santander AM appoints Jeff Scott as chief executive

    20 October 2008

    Santander Asset Management UK has announced the appointment of Jeff Scott as chief executive.

  • Sense of gilt

    16 October 2008

    Where to go? is the question on the lips of anyone who has been closely watching the events of the past few weeks.

  • Senseless consensus

    16 October 2008

    There is nothing worse in politics than a consensus. When politicians from all parties and the City or Fleet Street and archbishops in glass palaces come together to pronounce on great public issues, you can be sure that they are probably wrong.

  • Sipp cash account range expansion for European Pensions Management

    17 October 2008

    Following consumer demand, Sipp provider European Pensions Management is increasing its range of client cash accounts to allow greater diversification in cash holdings.

  • Sipp providers reassure advisers and consumers no Icelandic big freeze

    16 October 2008

    Sipp providers have reassured advisers and customers that they do not have any exposure to Icelandic banks after concern was raised with Money Marketing by some leading IFAs.

  • Split over ABI move to axe 'any occupation'

    16 October 2008

    Advisers and providers are split over the Association of British Insurers' plans to scrap "any occupation" from the application process.

  • Standard Life delays launch of variable annuity product again

    20 October 2008

    Standard Life has announced it will not be launching its variable annuity product at the end of the year as it had planned.

  • Stonehaven equity release rate is 'stunning value'

    16 October 2008

    Equity-release advisers have welcomed Stonehaven's new market-leading rates.

  • Tenet bolsters mortgage offering

    17 October 2008

    Tenet Group has launched a new strategic partnership with Legal & General in a bid to widen its offering to advisers.

  • The blame game

    16 October 2008

    If you have ever had the misfortune of watching daytime TV, then you, too, must have found yourself wondering first whether you have not in fact stumbled across hell on earth and second, marvelling at what a litigious country we have become if the volume of no win, no fee ambulance-chasing ads is anything to go by at that time of day.

  • The bottom line on banks

    16 October 2008

    Investors exposed to the UK banking sector are bearing the brunt of the financial crisis.

  • The domino effect

    16 October 2008

    The nationalisation of Bradford & Bingley and its subsequent withdrawal from mortgage lending delivered a blow to the buy-to-let market last month as its subsidiary Mortgage Express accounted for around 18 per cent of the BTL market.

  • The Hartford launches new offshore bond

    17 October 2008

    Investment firm The Hartford has expanded its product range with the launch of a Dublin-domiciled international investment bond.

  • The third way

    16 October 2008

    A recent Axa survey showed that when filling in insurance forms, 25 per cent of men lied about the amount they drink, with 10 per cent of women claiming to weigh less than they do. Who would have thought it?

  • The three tenets

    16 October 2008

    Our service proposition is based on three tenets. First up is financial planning - to review and set goals with the client, enter all data into the Truth Cashflow Modelling programme, identify scenarios, make decisions with the client, implement and review.

  • Thinc and Lincoln joining forces for training scheme

    16 October 2008

    Thinc Group has joined forces with Lincoln Financial Group to educate advisers on the retirement market.

  • Time to change GAR for a sportier model

    16 October 2008

    Is it ever worth giving up a good guaranteed annuity rate? At Pearl Group, we think it sometimes can be, if the compensatory enhancements to other aspects of the policy are sufficiently attractive. But are our customers of a like mind? To find out, we are writing to around 50,000 customers to find out if there is enough appetite for us to develop a formal exchange scheme.

  • Together is Rock's big problem

    16 October 2008

    Northern Rock chairman Ron Sandler says the Together mortgage book is the biggest challenge to profitability.

  • Tories play a waiting game

    16 October 2008

    The political consensus on personal accounts is fragile and the Conservatives have been threatening to break it unless a solution to the issue of means-testing is found.

  • Triangular bandage

    16 October 2008

    The mortgage industry has welcome the Government's bank rescue package after spending the last few months pleading for radical action.

  • Trigold enhance Dashboard proposition

    16 October 2008

    Trigold has unveiled its plan to enhance its Dashboard proposition to help advisers prepare for December’s treating customers fairly deadline.

  • Uncertainty at meaning of condition

    16 October 2008

    The mortgage industry has continued to question the Government's demand for the bailed-out banks to return to 2007 lending levels.

  • Unemployment rate highlights need for protection, says Paymentcare.co.uk

    16 October 2008

    News that unemployment levels are set to soar by 330,000 to 2.12 million by the end of next year highlights the need for protecting loan and mortgage payments, says Paymentcare.co.uk.

  • Watchdog rules out crisis hindsight

    16 October 2008

    The lead investment ombudsman says the FOS would not expect advisers to have anticipated the collapse of highly rated institutions in their advice.

  • 'We're all losers in price war'

    16 October 2008

    The protection industry's focus on price over product features is leading to harsher underwriting, more work for advisers and falling sales, says PruProtect director of protection development Kevin Carr.

  • William de Broe acquires Singer & Friedlander IM

    21 October 2008

    Evolution-owned wealth manager Williams de Broe is to acquire the assets and investment team of UK discretionary manager Kaupthing Singer & Friedlander Investment Management, Money Marketing understands.

  • Woodford picks four sectors with potential

    16 October 2008

    Invesco Perpetual income guru Neil Woodford believes the credit crisis is nearing its lowest point and opportunities are appearing in the market.

  • Yield to reason

    16 October 2008

    In case it passed you by over the summer, the FSA has used one of its snappily titled quarterly consultations to try and make a case for retaining the reduction in yield figure to show consumers how much an investment costs.

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