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16 April 2008

Money Marketing

  • Another 280 jobs lost at GMAC

    17 April 2008

    GMAC-RFC is cutting up to 280 jobs, 40 per cent of its workforce.

  • £3M mortgage fraud case opens

    17 April 2008

    An 18-month investigation by fraud squad officers in Scotland uncovered a massive mortgage fraud against banks and building societies.

  • 7IM adds passives to range

    18 April 2008

    Seven Investment Management has introduced a range of risk-graded funds of funds that use passive investments such as exchange-traded funds rather than actively managed funds.

  • 80% Of surveyors see house price falls

    17 April 2008

    Record numbers of chartered surveyors are seeing falls in house prices, according to the Royal Institution of Chartered Surveyors' March survey.

  • A shaw thing

    17 April 2008

    Annie Shaw is a freelance financial journalistThe last day of everyone else's week and the start of mine - because of the way the financial news publishing cycle works - began with me sitting on a judging panel for the Headline Money awards.

  • Abbey withdraws buy-to-let products

    21 April 2008

    Abbey has withdrawn its buy-to-let products temporarily in order to focus on its residential mortgage business.

  • Action is needed to boost customer understanding

    17 April 2008

    An overwhelming 94 per cent of product providers believe the industry and FSA must do more to differentiate pay- ment protection insurance and income protection in the eyes of consumers.

  • Admin firm Liberata fined for failing policyholders

    17 April 2008

    The FSA has imposed a fine of £525,000 on third-party life and pension admin firm Liberata Financial Services for exposing policyholders to unacceptable risks through systems and control failures.

  • Adviser angry at Lifetime over missing rebates

    17 April 2008

  • Adviser Fund Index - Super powers

    17 April 2008

    The increasing desire for investment choices outside traditional asset classes to protect against falls in the market has put investor focus on alternatives.

  • Adviser starts fund to fight FOS on case fees

    17 April 2008

    Adviser firm Heather Moor & Edgecomb has started a fighting fund to raise money for its court battle against the Financial Ombudsman Service.

  • Advisers warned over mass migration on to platforms

    17 April 2008

    Over two-thirds of advisers could be breaching treating customers fairly principles when they transfer clients on to a wrap platform, claims pension software provider Dunstan Thomas.

  • Adviserwise agency reg to gain admin service

    17 April 2008

    Origo says it plans to add agency administration capabilities to its Adviserwise agency registration service by the final quarter of 2008.

  • Aegon set for variable annuity

    17 April 2008

    Aegon is launching a variable annuity next month called Income for Life which is a pensionable version of its current 5 for Life offering.

  • Aifa vexed that Hunt didn't take review further

    17 April 2008

    Aifa has criticised Lord Hunt's review of the Financial Ombudsman Service, claiming it should have recommended oral hearings and a fee for consumers who submit vexatious claims.

  • Akbar joins Fidelity multi-manager team

    17 April 2008

    Fidelity has added to its multi-manager team with the appointment of Ayesha Akbar.

  • Akbar joins Fidelity multi-manager team

    16 April 2008

    Fidelity has added to its multi-manager team with the appointment of Ayesha Akbar.

  • Alternative thinking pays off at Schroders

    17 April 2008

    Schroders' multi-manager team says its holdings in alternative asset classes, including property, private equity and hedge funds, have achieved the best returns in recent weeks.

  • AMI proposes market looks to Sovereign Wealth Funds

    22 April 2008

    The Association of Mortgage Intermediaries believes the mortgage market should look closer at new areas of funding such as Sovereign Wealth Funds.

  • An encouraging deal from the Coventry

    18 April 2008

    Coventry Building SocietyFirst Time Buyer 6.99% Fixed

  • Andy Milburn moves to Goldsmith Williams

    18 April 2008

    Former Progress from Royal Liver IFA marketing manager has moved to law firm Goldsmith Williams as head of marketing.

  • AWD Chase de Vere to double salesforce

    17 April 2008

  • B&B denies rights issue

    17 April 2008

    Bradford & Bingley has denied reports that it is planning to raise equity through an emergency rights issue.

  • Bank of England agrees to £50bn bond rescue plan

    21 April 2008

    The Bank of England has agreed to bolster the UK mortgage market by swapping £50bn of government bonds for banks' mortgage-backed securities.

  • Bank of England auction received bids of £15.2bn

    16 April 2008

    The Bank of England’s auction of three month money yesterday was only met with bids totalling £15.2bn.

  • Bankhall set for direct authorisation initiative

    22 April 2008

    Bankhall has launched a new guidance service aimed at helping appointed representatives move to a directly authorised status.

  • Barclays Wealth - Defined Returns Plan

    18 April 2008

    Barclays WealthDefined Returns Plan

  • Baseline move won't rally the home market

    17 April 2008

    Mortgage industry figures believe the Bank of England monetary policy committee's decision last week to cut interest rates by just 0.25 per cent to 5 per cent will have little impact on the market.

  • BBC hack appointed to Bank of England

    16 April 2008

    Former BBC journalist Jenny Scott has been appointed director of communication at the Bank of England.

  • BlackRock appoints co-manager on UK absolute alpha

    22 April 2008

    BlackRock has appointed Nick Osborne to co-manage its UK absolute alpha fund.

  • Bradford & Bingley says arrears up in Q1

    22 April 2008

    Bradford & Bingley has confirmed that arrears levels have continued to rise in the first quarter.

  • Bright Grey pays 82% of CI claims

    16 April 2008

    Bright Grey paid out on 85 per cent of life claims and 82 per cent of critical illness claims last year.

  • Broker Talkback

    17 April 2008

    Do you think you will lose business because of the HSBC rate-matcher deal?

  • Brokers feel shunned by Government

    17 April 2008

    Mortgage brokers are asking why the Government is not seeking their views on the liquidity crisis.

  • Brown Shipley appoints investment head

    21 April 2008

    Brown Shipley has announced the appointment of Peter Botham as chief investment officer.

  • BT looks at buys to build up hub

    17 April 2008

  • Cable attacks Osborne's Bank of England swap plan

    18 April 2008

    Liberal Democrats Shadow Chancellor Vince Cable has attacked Conservative Shadow Chancellor George Osborne's support for a collateral swap programme and called on him to explain in detail how taxpayers will be protected.

  • Call in the funding specialists

    17 April 2008

    Specialist funding experts, such as HBOS mortgages chief operating officer Phil Jenks, are needed to help the Government's credit crunch working party, says Hamptons managing director Jonathan Cornell.

  • Central line

    17 April 2008

    The correct target for the mortgage industry's ire should be the Chancellor and the Governor of the Bank of England, not HBOS, Nationwide or even HSBC, whether their short-term actions are good or bad, fair or unfair.

  • Chain reaction

    17 April 2008

    When I wrote last week's column criticising mortgage distributors for their open letter to brokers, asking them to "under-stand and make allowances for the huge strain the credit crunch is placing on lenders", I was fully prepared for a flood of responses.

  • Chapter and verse

    17 April 2008

    The pre-Budget report in October announced changes to the taxation of life polic-ies which have or accrue a surrender value and are held by companies. They will cease to be subject to the special regime for life policies and will be subject to the corporate loan relationship legislation.

  • Chaser sets sights on whole-of-life

    17 April 2008

    Claim-chaser Brunel Franklin has started a service for whole-of-life misselling complaints, claiming that a majority of the five million people with policies may be affected.

  • Chasers could face fees for

    17 April 2008

    Lord Hunt has called for a crackdown on claim-chasers, including a case fee for vexatious claims and moves to force them to use more transparent advertising.

  • Closed firms take months for transfers

    17 April 2008

    Closed life offices provide the worst delays on pension transfers when a consumer buys an annuity on the open market.

  • CML agrees to review code on repossessions following Govt meeting

    22 April 2008

    The Council of Mortgage Lenders and the Finance and Leasing Association have agreed to review their voluntary arrangements on arrears and repossessions following a meeting with the Government at No 11 Downing Street today.

  • CML chief calls on King to take a lead

    17 April 2008

    Council of Mortgage Lenders chairman Steven Crawshaw has urged Bank of England governor Mervyn King to show leadership in response to the credit crunch.

  • Corporate bond sell-offs offer opportunities, says PSigma

    16 April 2008

    Sell-offs in the corporate bond market are offering investment opportunities in the financials sector, according to PSigma Investment Management.

  • Cost of letters could hit bonuses

    17 April 2008

    I am, I think, finally coming to the end of a protracted round of correspondence with Prudential, started in September last year, regard-ing their failure to send us copies of correspondence for an investment bond on which we were appointed agents by a client in 2001.

  • Coventry Building Society - +1.10% BBR Tracker for term

    18 April 2008

    Coventry Building Society+1.10% BBR Tracker for term

  • Credit Suisse revamps UK growth and income fund

    21 April 2008

    Credit Suisse has repositioned its UK growth and income fund to adopt a more thematic approach.

  • Crop rotation

    17 April 2008

    Investors are wondering where to turn as bad news plagues almost every major asset class. The Fed has worked to try and restore confidence but its actions are now focused more on trying to prevent a depression as we believe the US is probably already in recession - and the UK as well. The erosion in economic conditions means investors are facing some of the toughest landscapes for many years. Against such a backdrop, where should we look to invest?

  • Crosby to chair crunch group

    17 April 2008

    The Treasury has appointed FSA deputy chairman and former HBOS chief executive Sir James Crosby to chair a working group looking at the credit crunch.

  • 'Darling has got it wrong'

    17 April 2008

    Chancellor Alistair Darling has been accused of misunderstanding the liquidity crunch after his call for lenders to pass on last week's bank base rate cut.

  • Dawnay Day Quantum - Protected Agricultural Dynamo

    18 April 2008

    Dawnay Day QuantumProtected Agricultural Dynamo

  • Don't bank on a rescue

    17 April 2008

    The recent G7 meeting in Washington appears to have achieved very little, if anything, unless you consider Alistair Darling telling us that he now believes that the current financial crisis is the biggest economic shock since the Great Depression is progress.

  • 'Don't blame brokers for crunch victims'

    17 April 2008

    Sesame has called on the FSA and the Financial Ombudsman Service to ensure brokers are not made the scapegoat for borr- owers who get into difficulties.

  • Edeus' Bolton blasts govt for "full blown" credit crunch

    17 April 2008

    Edeus chief executive Michael Bolton says the Government has acted too late to bring liquidity back into the market and claims the liquidity squeeze is now set to turn into a "full blown" credit crunch.

  • Edeus transforms into manager of mortgage assets

    17 April 2008

    Edeus chief executive Michael Bolton has revealed it has reengineered itself into an “asset management” service business for the UK mortgage market.

  • Enos leaving The Hartford

    17 April 2008

    Hartford Life marketing and distribution managing director John Enos is leaving the company.

  • ETF Securities - ETFS Leveraged Corn

    18 April 2008

    ETF SecuritiesETFS Leveraged Corn

  • Ex-Sesame head Chris Pitt joins Focus

    17 April 2008

    Software provider Focus Solutions has appointed former Tata Consultancy Services consultant Chris Pitt to the position of lead business consultant.

  • Feeney moves to Mellon as head of distribution

    17 April 2008

    Former Gartmore head of distribution Paul Feeney has joined BNY Mellon Asset Management in the same role.

  • Fees almost double for best fixed rates

    17 April 2008

  • Fidelity launches emerging Asia fund

    21 April 2008

    Fidelity has launched an emerging markets Asia fund under the management of Teera Chanpongsang.

  • Fidelity warns DC schemes on platform choice

    17 April 2008

    Fidelity is warning compan- ies that they should not be seduced by platforms offering wide fund choices for their defined-contribution pension schemes because the quality of choice is more important.

  • Fine blend

    17 April 2008

    I have been talking to an adviser about my investment portfolio and he has mentioned a multi-asset fund. Can you explain what this is, how it differs from a traditional investment portfolio and how it might be of benefit to me?

  • Fortune fund gets A rating

    17 April 2008

    Fortune Group, the fund of hedge funds subsidiary of Close Brothers, has received an A rating from Standard & Poor's for its multi-strategy horizon fund of hedge funds.

  • FOS warns radical review could hit budget

    17 April 2008

    The Financial Ombudsman Service has welcomed Lord Hunt's report but warns that some of the recommendations have "significant implications" for its budget and resources.

  • FSA approves Resolution acquisition

    17 April 2008

    The FSA has approved the £5bn acquisition of Resolution Life by Pearl Assurance.

  • FSA bans mortgage broker for failing to protect against fraud

    22 April 2008

    The FSA has banned Derry-based mortgage broker John Paul Keay for failing to have in place adequate systems and controls to detect and prevent mortgage fraud.

  • FSA looks to dispute overturned rulings

    17 April 2008

    The FSA has for the first time applied to appeal against a Financial Services and Markets Tribunal decision in relation to a case against Leeds solicitor firm Fox Hayes.

  • FSCS reduces levy by £2.4m

    17 April 2008

    The industry faces a smaller than expected bill for the Financial Services Compensation Scheme this year after its refined its claims and compensation projections.

  • Godiva Mortgages - Self Cert 6.19% Fixed

    18 April 2008

    Godiva MortgagesSelf Cert 6.19% Fixed

  • Gov agrees to swap mortgages for bonds

    17 April 2008

    Alistair Darling and the Bank of England have provisionally agreed to a collateral swap programme where Government bonds could be exchanged for banks' mortgage-backed securities.

  • Govt to issue billions in bonds to BoE

    18 April 2008

    The Government looks likely to issue tens of billions of pounds worth of bonds to finance the Bank of England’s plan to ease funding strains on bank, according to press reports.

  • Grasp the thistle

    17 April 2008

    My weekend included a trip north to watch my beloved Partick Thistle take on the might of Rangers in a Scottish Cup quarter final replay.

  • Gross lending up 5% in March

    18 April 2008

    Gross mortgage lending has increased by 5 per cent to £26.3bn in March, according to the Council of Mortgage Lenders.

  • Guinness looks in the mirror

    18 April 2008

    Guinness Asset ManagementAlternative Energy Fund

  • Hamptons International appoints regional director

    22 April 2008

    Hamptons International has appointed Phil Tennant as regional director for central and north London.

  • Harsh underwriting frustrates advisers

    17 April 2008

    The most important thing that protection providers can do to win more business is to improve their underwriting decisions.

  • HBOS pulls products across all brands to reprice

    16 April 2008

    HBOS has begun pulling its products for repricing across nearly all of its brands, following yesterday's increase in rates from Halifax.

  • HMRC appeals against Bower test case decision

    16 April 2008

    HM Revenue and Customs is appealing against the decision of the Special Commissioner in the test case involving the executors of the late Mrs Bower.

  • Hornbuckle Mitchell’s Neil Marsh dies after cancer battle

    17 April 2008

    Hornbuckle Mitchell managing director Neil Marsh has died after a two and a half year battle with cancer.

  • House proud

    17 April 2008

    Is equity release still only used by homeowners who need to supplement their income in retirement rather than as a planned release of lump sums for planned expenditure?

  • Hunt rejects calls to end 'unfair' case fees

    17 April 2008

    The Hunt review of the Financial Ombudsman Service has dismissed widespread demands for advisers to pay a case fee only if a complaint against them is upheld.

  • IFAs get go-ahead to sell Living Time plan

    17 April 2008

    Sesame, Money Portal, Openwork and Bankhall have reclassified Living Time's ann- uity product to allow all their advisers to sell it.

  • ifs School of Finance warns against qualifications before RDR

    21 April 2008

    Encouraging the uptake of existing qualifications before the outcome of the RDR is known is “foolish”, according to the ifs School of Finance.

  • IIID is the new perspective

    17 April 2008

    One of the surprise hits in the fund world in the last six months has been the BlackRock UK absolute alpha fund. It has seemingly come from nowhere to take the market by storm and I am sure all the BlackRock salespeople are rubbing their hands with glee.

  • Impax - IFSL Impax Environmental Leaders Fund

    18 April 2008

    ImpaxIFSL Impax Environmental Leaders Fund

  • Impax takes the lead

    18 April 2008

    ImpaxIFSL Impax Environmental Leaders Fund

  • Indian summer

    17 April 2008

    The Indian stockmarket has had a torrid start to the year but the region continues to curry favour with investors.

  • Invesco plans to merge US fund trio

    16 April 2008

    Invesco Perpertual is to merge its underperforming £20m US smaller companies and £8m aggressive fund into its US equity vehicle, Money Marketing understands.

  • Investment matters

    17 April 2008

    Having been hit by the retail distribution review, treating customers fairly, the credit crunch and Budget tax changes, IFAs face a host of challenges. This is especially true if you are an investment specialist.

  • JC Flowers withdraws bid for Friends

    18 April 2008

    JC Flowers has formally withdrawn its proposal to acquire Friends Provident after the insurer refused to engage in discussions with the private equity firm.

  • JC Flowers won't budge on Friends

    17 April 2008

  • Jupiter appoints product development director

    16 April 2008

    Jupiter has appointed Juliette Home as product development director.

  • Just Retirement to offer impaired quotes in a day

    17 April 2008

    Just Retirement is entering the impaired annuity market offering customers with the most serious health problems the ability to get an annuity quote within 24 hours.

  • Kingfisher swoops to sign up for Hargreaves Lansdown Sipp

    17 April 2008

    Hargreaves Lansdown's Sipp business leapt by 53 per cent from £760m to £1.2bn in the year ending March 31.

  • L&G calls for changes in loan timing

    17 April 2008

    Legal & General is calling on lenders to change the way they release mortgage funds to stop frantic rushes for the most attractive deals, followed by repricing.

  • L&G takes dynamic bond fund to retail market

    18 April 2008

    Legal & General has made its dynamic bond trust available to the retail market almost a year since it was launched for institutional investors.

  • Landlords' body starts BTL panel

    17 April 2008

  • Lanning taking over from Hambi at Gartmore

    17 April 2008

    Gartmore head of multi-manager Bambos Hambi has been replaced by his deputy Tony Lanning in a restructure.

  • Leaman to leave ABI

    16 April 2008

    The Association of British Insurers director of corporate affairs Alan Leaman is set to leave the trade body in the summer to head up the Management Consultancies Association.

  • Learning lessons from Polygon

    17 April 2008

    If Polygon means that the parrot is out squawking MVA, MVA, MVA, then perhaps it would draw attention to the fact that with-profits bonds are not the only environment that has to protect itself.

  • Legal & General reports slight dip in Q1 new UK business

    16 April 2008

    Legal & General has reported a slight fall in new UK business in Q1 2008, down from £338m in 2007 to £335m.

  • Lehman Brothers - Enhanced Deposit Plan Issue One

    18 April 2008

    Lehman BrothersEnhanced Deposit Plan Issue One

  • Life saver

    17 April 2008

    Over-55-year-olds could be better off moving to a lifetime mortgage as a drying up in the number of conventional mortgages and mortgage products, and increasing lenders' margins, threaten homeowners' financial stability.

  • Life Trust launches foundation to raise awareness of longevity

    16 April 2008

    The Life Trust has set up a independent foundation to raise awareness and understanding of the financial issues associated with increasing longevity.

  • Loan sum pine

    17 April 2008

    UK shares took a dive in the immediate aftermath of the Bank of England's decision to cut rates. It did not help that the decision was announced on the same day that the International Monetary Fund warned of a 25 per cent chance of an impending global recession.

  • LV= returns squeezed to 5.7% after glittering 2006

    17 April 2008

    LV= was hit by the credit squeeze last year, producing an investment return of 5.7 per cent for 2007, halved from 11.2 per cent in 2006.

  • Lyxor Asset Management - Lyxor ETF New Energy

    18 April 2008

    Lyxor Asset ManagementLyxor ETF New Energy

  • Lyxor Asset Management - Lyxor ETF World Water

    18 April 2008

    Lyxor Asset ManagementLyxor ETF World Water

  • Managers turn to EEA life settlements

    17 April 2008

    EEA Fund Management says multi-managers such as Lawrence House are turning to alternative assets classes such as the EEA life settlements fund to diversify their portfolios as market volatility continues.

  • Mark Shorrock

    17 April 2008

  • Massive £81bn mortgage gap could open up

    17 April 2008

    New Star chief economist Simon Ward has warned there could be a huge potential mortgage funding gap of £81bn this year.

  • Matcher can strike a balance

    17 April 2008

    HSBC's rate matcher deal will help ease pressure from rival lenders by taking away some of the vast number of remortgages hitting the market.

  • Matcher points

    17 April 2008

    HSBC's five-week rate matcher offer to all UK homeowners could see the bank suffer- ing huge service problems.

  • Money Marketing Markets: The UK high street massacre

    18 April 2008

    The FTSE 100 looks set to end the week above the landmark 6,000 barrier despite the wealth of evidence pointing to an economic slowdown.

  • New Skandia funds aim to cover the Spectrum of risk

    17 April 2008

    Skandia is launching a range of six funds that will offer risk-targeted investment.

  • New Star warns BoE liquidity scheme may be ineffective

    21 April 2008

    The Bank of England’s special liquidity scheme may prove ineffective because of its unattractive fee structure, according to New Star.

  • New Star's Ward wants long-term lending by BoE

    17 April 2008

    New Star chief economist Simon Ward has called for co-ordin- ated action by the Bank of England and the Government to extend up to £40bn of longer-term funding to help banks.

  • No gain without pain

    17 April 2008

    The bonds versus collectives debate continues to rage. Understandable focus is on the capital gains tax changes, including the abolition of indexation allowance, the abolition of taper relief and, of course, the introduction of the 18 per cent flat rate.

  • Now we are three

    17 April 2008

    As we celebrate the third birthday of the child trust fund, it is time to reflect on how much this baby of the savings world has grown up.

  • NU seeks protection marketer

    17 April 2008

    Norwich Union is looking for a director of marketing for its protection business, indicating a renewed focus on the sector.

  • Packager Chase UK shuts up shop

    16 April 2008

    Portsmouth based packager Chase UK is in the process of appointing an administrator this week after becoming the latest packager firm to shut up shop.

  • Parental control

    17 April 2008

    Childcare is an expensive business and the 250 handed out by the Government to be invested in each child trust fund is no doubt welcomed by most parents. However, with more and more investment options specially designed to take care of the little darlings' Government bonus, the cheques can just add further concern to an already heavy frown. So how can a CTF be invested and what is the best way to do so?

  • Paternoster business grows over 35 per cent in Q1

    16 April 2008

    Paternoster's buy-out sales have grown by over 35 per cent in quarter one of 2008 to £520m compared with £131m in quarter four last year.

  • Pension Corp concedes on trustees

    17 April 2008

    Pension Corporation has agreed to appoint only indepen- dent trustees to oversee thee Telent pension scheme after a six-month battle with The Pensions Regulator.

  • Perry Thomas leaves RGA

    16 April 2008

    RGA head of UK business Perry Thomas has left the reinsurer with immediate effect.

  • Pioneer pays out 96% of IP claims

    17 April 2008

    Pioneer paid out on 96 per cent of income protection claims last year, slightly down from 96.8 per cent in 2006.

  • Private Health Partnership steps into self-pay sector

    21 April 2008

    The Private Health Partnership, owned by Skipton Building Society, has bought Medical Care Direct.

  • Problems loom on remortgages

    17 April 2008

    Lenders could be stuck with huge amounts of mortgage business that they cannot handle if remortgage rates move above standard variable rates in the near future, according to Hamptons managing director Jonathan Cornell.

  • Profits are private, but losses hit us all

    21 April 2008

    News broke last week of plans for a collateral swap programme where Government bonds could be exchanged for banks' mortgage-backed securities.

  • Profits up 13% at Helm Godfrey

    17 April 2008

    Helm Godfrey saw net profit growth of over 13 per cent last year to £744,000 from £660,000 in 2006.

  • Pru lifting commission on severity-based plan

    17 April 2008

    PruProtect is offering an extra 20 per cent commission on its severity-based critical-illness cover product.

  • Pru UK business up 4 per cent in Q1

    17 April 2008

    Prudential recorded a 4 per cent increase in UK business in the first quarter 2008, clocking £189m.

  • PruProtect pays 20 per cent more

    22 April 2008

    PruProtect boosted the commission on its severity-based critical illness cover product by 20 per cent last week to reward advisers for taking the time to study it.

  • Quest for quality

    17 April 2008

    These are tough times for mortgage brokers. There is plenty of custom but not so much lending money to broke.

  • Rent-paying pensioners £133,117 worse off

    21 April 2008

    Pensioners who rent during retirement are £133,117 worse off than those who own their own home, according to Friends Provident.

  • Re-reg gets boost as IMA backtracks on IT

    17 April 2008

    The Investment Management Association has dropped its call for fund firms to adopt an international standard for electronic messaging this year.

  • Review needs tougher tone

    17 April 2008

    The Hunt review of the Financial Ombudsman Service does not go far enough. It is right to call for a clampdown on claim- chasers when they pursue vexatious claims but this needs to apply to the public as well.

  • Rooftop to close

    17 April 2008

    Rooftop Mortgages is set to close.

  • Rowanmoor appoints senior consultant

    22 April 2008

    Rowanmoor Pensions has appointed former Clerical Medical senior account manager Mark Randell as senior consultant.

  • Royal Bank of Scotland considers rights issue

    18 April 2008

    Royal Bank of Scotland is understood to be considering a rights issue, with an announcement due next week.

  • Royal Bank of Scotland launches £12bn rights issue

    22 April 2008

    Royal Bank of Scotland Group has confirmed today it will be launching a £12bn rights issue in a bid to reposition its capital ratios and strengthen its capital base.

  • Sanlam adds to advisers with Buckles buy

    17 April 2008

    South African financial ser- vices group Sanlam has bought a 60 per cent stake in adviser firm Buckles.

  • Sarasin takes multi-asset to agriculture

    18 April 2008

    Sarasin & partners has established the Sarasin AgriSar fund, which aims for growth by investing in a global multi-asset portfolio of investments in agriculture and associated sectors.

  • Schroders - Schroder UK Defensive Income Fund

    18 April 2008

    SchrodersSchroder UK Defensive Income Fund

  • Schroders loses Lloyd

    17 April 2008

    Schroders co-head of structured investments Richard Lloyd is leaving after 11 years.

  • Scottish Widows - Retirement Account: Retirement Income

    18 April 2008

    Scottish WidowsRetirement Account: Retirement Income

  • Shape the profession

    17 April 2008

    April will bring us the updated views from the FSA on feedback to the discussion paper on the retail distribution review.

  • Share scheme sums

    17 April 2008

    One issue coming out of the Northern Rock debacle that should serve as a warning to advisers and employers is the risks inherent within employee share plans.

  • Share the load

    17 April 2008

  • Shares in F&C Managed Portfolio Trust start trading

    16 April 2008

    Shares in F&C Managed Portfolio Trust have begun trading on the London Stock Exchange this morning.

  • Sink or swim?

    18 April 2008

    The time is fast approaching when mortgage firms are making the final call as to whether they should sink or swim.

  • Sipp investors could be missing out on £480m

    21 April 2008

    Nearly £13bn could be held in Sipps in cash at present and investors could be missing out on over £480m in interest per year.

  • Skandia calls for risk warnings on money guidance

    17 April 2008

    Skandia is calling for explicit disclosure and warnings to consumers about what the proposed money guidance service provides.

  • Skandia launches business consultancy for advisers

    16 April 2008

    Skandia has launched a new business consultancy service for advisers looking to move their business model towards holistic financial planning.

  • Skandia wins special trainer status from 1st

    16 April 2008

    Skandia has become the first provider to receive 'accredited associate’ trainer status with 1st's Adviser Office software.

  • Skipton BS cuts BTL LTV to 75%

    16 April 2008

    Skipton Building Society has cut its maximum loan to value on its buy to let products from 85 per cent to 75 per cent with immediate effect.

  • Standard Life launches Sipp zone for advisers

    18 April 2008

    Standard Life has launched a Sipp zone on its adviser extranet service which includes a new fund trading service.

  • Standard Life offers variable annuity guarantee for Sipp

    17 April 2008

    Standard Life is set to bring out a variable annuity product this summer for new and existing self-invested personal pension customers.

  • Standard lobbies Lords on personal accounts

    17 April 2008

    Standard Life is lobbying the House of Lords in an attempt to pressurise the Government to change the exemption test for pension personal accounts.

  • Supermarkets limit choice of offshore funds

    17 April 2008

    Fund supermarkets are acting as an obstacle to increased offshore product sales, according to an HSBC survey.

  • Survey to set the mark on adviser efficiency

    17 April 2008

    A benchmark survey is aiming to set standards in adviser efficiency and profitability.

  • Swap rates rocket up

    18 April 2008

    Swap rates have increased by around 20 ticks over the course of the day with a broker warning this may see lenders pulling their fixed rates by the end of today.

  • 'Targeting chasers raises rights issues'

    17 April 2008

    Lord Hunt's proposal to introduce case fees for vexatious complaints brought by claim-chasers could fall foul of human rights law, warns solicitor Reynolds Porter Chamberlain.

  • The FOS and the Hunt for the “misremembering” consumer

    16 April 2008

    I wonder if the ombudsman service has ever considered in any detail the behaviour of consumers, what turns them into complainers and whether some of them should ever have been complaining in the first place.

  • The hub of the matter

    17 April 2008

    BT has drawn up plans to launch a telecom-munications and technology insurance hub aimed at saving advisers time and money.

  • The late dictators

    17 April 2008

    First and foremost, we are a firm of financial planners, not a manager of funds or experts in asset custody, investment dealing or investment administration.

  • The race for base

    17 April 2008

    There is now a huge increase in demand for nearly all commodities, especially oil, base metals, gold and soft commodities.

  • The Reit generation

    17 April 2008

    One year into the UK Reits regime, many of the property companies which converted to Reits in January 2007 are publishing annual results or quarterly updates.

  • The rise of greenwashing

    17 April 2008

    Environmental issues have finally achieved some amount of political prominence and can only accelerate from here, led in many respects by corporates and the demands of their customers.

  • The third-way could soon be the best way

    17 April 2008

    The news that both Aegon and Standard Life are entering the variable annuity market was greeted with relief and interest in equal measures by advisers.

  • Thoresen joins ABI customer impact panel

    21 April 2008

    Aegon chief executive Otto Thoresen has joined the ABI's customer impact panel.

  • Threesixty signs Standard Life custom wrap

    21 April 2008

    Standard Life has become affiliated platform provider to support services provider Threesixty.

  • Tim Callaghan set for Gartmore exit

    16 April 2008

    Gartmore fund manager Tim Callaghan looks set to leave the firm as the group plans to restructure its European desk.

  • Top trumps

    17 April 2008

    Invesco Perpetual reached a significant landmark last year when it dethroned Fidelity as the UK's biggest fund manager, with £30.56bn under management.

  • Treasury and FSA launch consultation on EU insurance

    22 April 2008

    The Treasury and the FSA have launched a consultation on the UK's proposals to reduce the administrative burden on insurance firms operating in the EU.

  • Unlocking potential

    17 April 2008

    Despite historical growth in housing wealth, an aging population and potential pension shortfalls, the equity release sector has only experienced steady growth and many lenders continue to steer clear.

  • Up go the eyebrows

    16 April 2008

    Richard Lloyd's decision to call time on his 11-year tenure at Schroders was one of a number of strange moves for fund managers this week.

  • Visual effect

    17 April 2008

    The recent rescue of Bear Stearns brought a renewed sense of confidence to equity markets both in the UK and elsewhere, with shares boosted further by the realisation that the US Federal Reserve is prepared to intervene forcibly when big financial institutions get into trouble.

  • Weak case for Edinburgh declaration

    17 April 2008

    I cannot believe the universal support that the Edinburgh declaration has received from the financial press.

  • West Bromwich, Principality and Co-op top lender list

    22 April 2008

    West Bromwich Building Society, Principality Building Society and the Co-operative Bank have accounted for more than half of all applications in the past month, according to mform.co.uk.

  • Which? attacks FSA at orphan cash inquiry

    22 April 2008

    Which? has attacked the FSA for allowing companies to use inherited estates to fund misselling costs, shareholder tax and unprofitable new business.

  • Who holds the watchdog's leash?

    17 April 2008

    The Financial Services and Markets Act 2000 provided for the FSA to establish an ombudsman scheme under which disputes relating to financial services would "be resolved quickly and with minimum of formality by an independent person". The Financial Ombudsman Service was established to operate that scheme.

  • 'Wooden spoon' for worst firms

    17 April 2008

    The Hunt review calls on the FOS to award a "wooden spoon" for the worst-performing firms in terms of uphold rates.

  • Woolwich puts 1% application fee on SVR

    16 April 2008

    Woolwich has introduced a minimum application fee of £1,000 to all buy to let borrowers applying for its Standard Variable Rate.

  • Zurich appoints corporate distribution manager

    16 April 2008

    Zurich has appointed former Winterthur Life defined contribution account manager Melvin Hanks to the position of senior corporate distribution manager.

  • Zurich launches tax wrapper comparison tool

    18 April 2008

    Zurich has unveiled a new comparison tool which it says will help advisers assess the comparative returns from UK onshore investment bonds and unit trusts or Oeics.

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