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16 July 2008

Money Marketing

  • Sharp rise in inflation

    17 July 2008

    Consumer price index annual inflation leapt to 3.8 per cent in June from 3.3 per cent in May, according to figures from the Office for National Statistics. Bank of England governor Mervyn King admitted this week that the monetary policy committee can do little to change the path of inflation in the short term.

  • Thinc picks Young as compliance chief

    17 July 2008

    Thinc Group has appointed David Young as head of group compliance. He has over 30 years experience in compliance and corporate governance and was previously director and principal of The Young Company.

  • 1,000 Jobs could be axed

    17 July 2008

    Up to 1,000 jobs in financial services could be lost as the industry consolidates over the next 12 months, claims the 2008 Plimsoll Analysis.

  • '130/30 On wrong tracks'

    17 July 2008

    New Star managing director retail business development Stewart Cazier says 130/30 funds are an "evolutionary cul-de-sac".

  • A light out of the dark ages

    17 July 2008

    I remember some years ago one of the major providers - well "major" may be pushing my literary licence somewhat - you know, the one who bought two or three of the traditional Scottish firms in the late 1990s.

  • A shaw thing

    17 July 2008

    Annie Shaw is a freelance financial journalistIf anyone thought that Jason Wyer-Smith would disappear from the social radar when he left Virgin Money to set up 42PR, they were very much mistaken. He is batting about London on behalf of clients such as comparison website GoCompare, so it was good to catch up with him on Wednesday. He was meeting up with Pathom's Phil Thomas who runs the website lse.co.uk - no, not the stock exchange or the university but a handy little ...

  • Adviser Fund Index

    17 July 2008

    With risk management a key focus, it is unsurprising that the industry's trade body should make it a priority.

  • Advisers hit back at ABI

    17 July 2008

    Advisers have hit out at the Association of British Insurers' head of health and protection Nick Kirwan over the message the ABI is sending to consumers and its support for payment protection insurance.

  • Aifa confident over long stop

    17 July 2008

    Aifa believes the FSA is considering bringing in a 15-year long stop for complaints following lobbying by the trade body.

  • Alliance & Leicester - Two-Year Base Rate Tracker

    17 July 2008

    Alliance & LeicesterTwo-Year Base Rate Tracker

  • Asian persuasion

    17 July 2008

    The question for investors is whether sliding markets - India's Sensex has fallen by 33 per cent this year while the Hong Kong market is down by 21 per cent - have now fully factored in the potential implications of the harsher economic backdrop.

  • AXA to launch new consolidated service for IFAs

    17 July 2008

    AXA & Winterthur Wealth Management will launch a new financial services company providing a single point of contact for advisers for both new and old business.

  • B&B shareholders vote in favour of £400m rights issue

    17 July 2008

    Bradford & Bingley's shareholders have given the bank's proposed £400m rights issue the green light at its Extraordinary General Meeting today.

  • Baillie emerges with bond fund

    17 July 2008

    Baillie Gifford has introduced an emerging markets bond fund that will invest in a range of government, government-related bonds and corporate bonds issued mainly in local currencies.

  • Bearing up

    17 July 2008

    Many times in the past, I have made reference to the special place that residential property enjoys in the minds of the British. Such is the carnage presently taking place in the housebuilding sector that it is not unreasonable to expect this relationship to break down.

  • Bestinvest downrates Luckraft's funds

    17 July 2008

    Bestinvest has dropped its ratings on George Luckraft's Axa Framlington monthly income and equity income funds, citing high risk and a failure to reposition his portfolio.

  • Big rise in business at Paternoster

    17 July 2008

    Paternoster has seen a 550 per cent rise in business over the past 12 months. It is now the approved provider for 41 pension schemes, with 50,000 members and over £9m of monthly annuity payments.

  • Bolton's big prediction

    17 July 2008

    This financial crisis is catching everyone out. Housing analysts who a couple of years ago told us that there would not be a crash are looking a tad foolish at the moment as house price falls are recorded each month.

  • Bridgingloans.com appoints compliance manager

    18 July 2008

    Bridgingloans.com has appointed a new compliance manager to head up its compliance division.

  • Bright Grey enhances online proposition

    18 July 2008

  • Broker Talkback

    17 July 2008

    Is the Association of British Insurers doing enough to tackle poor provider marketing material on the open market option for annuities?Yes 25%No 75%

  • Business confidence hits lowest level since 1992, says survey

    21 July 2008

    Falling company profits are denting business confidence according to the latest business in Britain index from Lloyds TSB Commercial.

  • Capita launches latest version of Client Care Desktop

    18 July 2008

    Capita Financial Software has launched the latest version of its client management system Client Care Desktop.

  • Chain reaction

    17 July 2008

    The accelerating oil price and other raw material price increases have created a very difficult investment climate. Inflationary pressures are gathering momentum, yet global economic growth is declining, presenting a tricky dilemma for central banks. Unsurprisingly, most financial markets have struggled over recent months.

  • Chancellor panicking over fuel duty, says Cable

    16 July 2008

    Liberal Democrat Shadow Chancellor Vince Cable has accused Alistair Darling of panicking over his decision to delay the 2p increase in fuel duty.

  • Charles Stanley expands asset management team

    18 July 2008

    Charles Stanley stockbrokers has appointed two new investment management teams to its asset management division.

  • Checkmate Mortgages secures investment for 2009 launch

    22 July 2008

    Checkmate Mortgages has secured investment backing which will see the postponed lender launch in early 2009.

  • Clarifications on court cases

    17 July 2008

    I don't want to be too precious about Nic Cicutti's column in last week's issue but I need to make some clarifications. Gareth Fatchett was not the solicitor of record for the Pickerings. They instructed counsel directly.

  • Clarity wanted on offshore changes

    17 July 2008

    The Alternative Investment Management Association has called for greater clarity from the Treasury on its proposed overhaul of the offshore fund regime. It says proposed changes do not adequately simplify the current regime and could further burden the investment management industry.

  • Class act

    17 July 2008

    Skandia has produced an innovative and potentially highly profitable new fund called the alternative investment fund.

  • CML wants repo facility for bank

    17 July 2008

    The Council of Mortgage Lenders has called for the Bank of England to offer a repo facility in its submission to the Crosby review. The facility would use new UK residential mortgage-backed securities or covered bonds as collateral.

  • Columbus Direct moves into MPI

    17 July 2008

    Columbus Direct is launching its own MPI product in a bid to bring equality back to the market.

  • Commodity concerns

    17 July 2008

    Some advisers have expressed concerns that Schroders is going a little bit commodity-crazy.

  • Compensate Equitable victims, says report

    17 July 2008

    The government should compensate the victims of Equitable Life after more than a decade of regulatory failings, parliamentary ombudsman Ann Abraham has found.

  • Consistency is central to TCF

    17 July 2008

    Adviser firms must treat their clients as individuals while providing a uniform service to meet the FSA's treating customers fairly requirements, says BDO Stoy Hayward.

  • Consulting Consortium tool finds TCF hotspots in firms

    17 July 2008

    The Consulting Consortium has designed an online tool to help advisers assess and manage how they applying the treating customers fairly principles within their business.

  • Conundrum for bank

    17 July 2008

    The Bank of England's monetary policy committee held base rate at 5 per cent last week amid conflicting pressures of inflation and a struggling house market.

  • Convertibles' drive steers fund to £250m

    17 July 2008

    The popularity of multi-asset multi-manager funds has helped the RWC global convertibles fund reach assets of over £250m since its launch 18 months ago.

  • Countrywide appoints managing director

    22 July 2008

    Insurance network Countrywide has appointed Nick Haycock as its managing director.

  • Credit Suisse Asset Management - Multi-Manager Multi-Asset Growth Portfolio

    17 July 2008

    Credit Suisse Asset ManagementMulti-Manager Multi-Asset Growth Portfolio

  • Dalton Strategic Partnership - Melchior Selected Trust - Pakistan Opportunities Fund

    17 July 2008

    Dalton Strategic PartnershipMelchior Selected Trust - Pakistan Opportunities Fund

  • Danny Lovey

    17 July 2008

    Danny Lovey came to mortgage broking late in his career. The sole trader of The Mortgage Practitioner spent many successful years working in the City, first as a stockbroker and latterly as a investment bank trader before circumstance and a shift in lifestyle led him to the world of mortgages.

  • Death of fund legend and philanthropist Sir John Templeton

    17 July 2008

    Legendary fund manager and philanthropist Sir John Templeton has died aged 95.

  • Decisive action is needed now

    17 July 2008

    In recent months, it has become almost de rigueur to chastise some media commentators for their downbeat reporting of the economy. But I am afraid that we are now at a point where the quicker it is universally accepted that using terminology such as the dreaded R - recession and redundancy is quite simply being in tune with another R word - reality.

  • Defining issue

    17 July 2008

    What defines someone you can trust when you need help? You believe they will act in your best interests. If their best interests conflict with yours, you believe they will tell you this and let you decide what to do.

  • Directors' duties

    17 July 2008

    The initial cause of the credit crunch was the collapse of the US sub-prime market and its knock-on effect has brought an end to cheap and available credit in the UK and raised the spectre of recession.

  • Do the rights thing

    17 July 2008

    Self-investment of protected rights from October 1 presents the biggest pension opportunity since A-Day. In the last 10 years, personal pensions have received over £25bn in contracted-out rebates. Allow also for the first 10 years of rebates from 1988 plus investment growth and it is a fair guess that these funds now add up to between £75bn and £100bn.

  • Don't look down on protection

    17 July 2008

    An elitist attitude towards protection sales is being adopted by a number of IFAs, according to Highclere Financial Services partner Alan Lakey.

  • Dynamic offering from Octopus

    17 July 2008

    The CF Octopus dynamic fund aims for growth by investing long in UK equities and taking synthetic short positions using derivatives.

  • Equitable boss says light touch regulation more effective

    17 July 2008

    Equitable Life chief executive Charles Thomson has claimed light touch regulation may be more effective than heavy in preventing companies failing.

  • Equity release business volumes up 14%, says Ship

    17 July 2008

    Ship equity release providers have seen business volumes in the second quarter of this year increase by 14 per cent from quarter one.

  • European policyholders should also get Equitable compensation, say MEPs

    17 July 2008

    European policyholders should also be compensated for Equitable Life losses, say MEPs.

  • F&C Property to acquire Reit

    22 July 2008

    F&C has announced plans to acquire property asset manager Reit.

  • 'Fed to blame for commodity boom'

    17 July 2008

    Federal Reserve policy rather than market speculation is to blame for surging commodity prices, says New Star economist and strategist Simon Ward.

  • Fidelity cracks the crunch

    17 July 2008

    Fidelity has brought out a new fund designed to take advantage of market anomalies from the credit crunch.

  • First State may start farm fund

    17 July 2008

    First State Investments is the latest firm to look at launching an agricultural fund, Money Marketing understands.

  • Fitch to keep close watch on Friends' results

    17 July 2008

    Fitch Ratings says it will be watching Friends Provident's interim results closely to decide whether there will be any further downgrades to its rating.

  • Foreign banks dominate high end BTL

    17 July 2008

    Foreign banks have swooped in to take advantage of the current market conditions and are dominating at the higher end of the buy to let market.

  • Fortis ejects chief executive

    17 July 2008

    Fortis chief executive Jean-Paul Votron has been ousted from the Belgian bank. A statement said the board of directors of Fortis, along with Votron, have decided to terminate his contract "by mutual agreement" and in the interest of the group.

  • Framework for future

    17 July 2008

    Life expectancy has increased. Millions are not saving enough for retirement. Unless we work together to tackle these challenges, we face a pension crisis in decades to come.

  • Franklin Templeton predicts rate rise in eurozone

    17 July 2008

    The European Central Bank may have to raise interest rates to combat rising inflation, says Franklin Templeton.

  • Friends Prov lowers with profits final bonuses

    18 July 2008

    Friends Provident is reducing final bonuses on its with profits fund following a gross investment return of -7.25 per cent for the first half of 2008.

  • Friends Prov may axe Lombard and F&C sales, say reports

    21 July 2008

    Friends Provident is reportedly considering scrapping plans to sell off wealth management business Lombard and its 52 per cent stake in F&C.

  • Friends Provident adds IP online

    16 July 2008

    Friends Provident is adding IP to its online underwriting system in a bid to give advisers better access to new business processing.

  • FSA bans two brokers for capability failures

    16 July 2008

    The FSA has banned two Wakefield mortgage brokers for competence and capability failures.

  • FSA conference to shape Money Guidance pathfinder program

    18 July 2008

    The FSA is holding a conference for key figures from the Government, the financial services industry and voluntary organisations to finalise its Money Guidance pathfinder program.

  • FSA imposes public censure on firm for complaint handling failings

    21 July 2008

    The FSA has imposed a public censure on Mandrake Associates Limited for serious failings in the way it handled mortgage endowment complaints.

  • FSA issues new waiver on unauthorised overdraft charge complaints

    21 July 2008

    The FSA has issued a new six-month waiver from its complaints handling rules on unauthorised overdraft charges.

  • FSA to consult on changes to disclosure and transparency rules

    21 July 2008

    The Financial Services Authority will consult on a proposal that financial institutions who receive liquidity support from a central bank will have a legitimate interest for delaying the public disclosure of such support.

  • FSA to toughen defences against mortgage fraud

    22 July 2008

    The FSA has written to mortgage trade bodies outlining its plans to toughen the industry’s defences against mortgage fraud, including targeted visits to 200 firms.

  • Germany signs Jersey tax pact

    17 July 2008

    Jersey and Germany have signed a bilateral tax information exchange agreement as pressure mounts on authorities to crack down on secrecy in offshore jurisdictions.

  • Give clients the power on trail cash

    17 July 2008

    Ever since trail commission was mooted, I thought it would end in disaster.

  • Godiva Mortgages - Buy To Let 1.8% Tracker For Term

    17 July 2008

    Godiva MortgagesBuy To Let 1.8% Tracker For Term

  • Government mulling relaxation of fiscal rules, say reports

    18 July 2008

    The Government is reportedly considering relaxing its fiscal rules to avoid it breaching the principle of not borrowing more than 40 per cent of national income.

  • Govt launches Rent to Home Buy scheme

    16 July 2008

    The Government has launched a new Rent to Home Buy scheme in a bid to help first time buyers onto the housing ladder.

  • Govt targets wealthy Britons in offshore tax probe

    22 July 2008

    HM Revenue & Customs is investigating the offshore dealings of hundreds of Britons who are suspected of evading more than £1bn in tax on investments held in Liechtenstein.

  • Govt to consult on banking special resolution regime

    22 July 2008

    The Chancellor of the Exchequer has launched a consultation on the 'special resolution regime' which is designed to reduce the impact of a failing bank.

  • Gross mortgage lending down 3 per cent

    18 July 2008

    Gross mortgage lending has fallen 3 per cent in June to an estimated £23.8bn, says the CML.

  • Halbis appoints Russian equities specialist

    18 July 2008

    Halbis, the active management specialist of HSBC global asset management has appointed Ed Conroy to its global emerging markets team.

  • HBOS brands cut mortgage rates

    18 July 2008

    Halifax is cutting mortgage rates for the second time this week alongside reductions by other HBOS brands.

  • HBOS claims regulator didn't know MI shape at deadline

    17 July 2008

    The FSA did not know what form management information should take as part of its TCF initiative by its March deadline, claims HBOS.

  • HBOS sees 8.29% take up of £4bn rights issue

    21 July 2008

    HBOS has seen a disappointing take-up of its £4bn rights issue with only 8.29 per cent of the total of new shares having been bought.

  • HBOS to axe 650 jobs

    17 July 2008

    HBOS is to axe 650 jobs over the next eighteen months as it combines two of its operations.

  • House transactions lowest in 30 years

    17 July 2008

    The average number of transactions per surveyor over the last three months was 15.3, the lowest figure since 1978, according to the Royal Institution of Chartered Surveyors. Surveyors reporting a fall in house prices rather than a rise fell to 88 per cent from 92.2 per cent in April.

  • HSBC Global Markets - Protected Emerging Europe Plan

    17 July 2008

    HSBC Global MarketsProtected Emerging Europe Plan

  • IFA firms now offering Real Life Cover

    21 July 2008

    A number of IFA firms are supporting Fortis' entry into the UK life insurance market by offering its Real Life Cover product and Your Life Plan.

  • Ifs and butts

    17 July 2008

    The smoking ban may be having a positive effect, with research by University College London, funded by Cancer Research, showing that the last year has seen the biggestever drop in the number of smokers.

  • ifs School of Finance launches new diploma qualification

    18 July 2008

    The ifs School of Finance is launching a new qualification in advanced financial advice benchmarked to QCA level 4.

  • IMA calls for immediate implementation of Ucits IV framework

    16 July 2008

    The Investment Management Association supports the European Commission’s proposals for an improved legislative framework for Undertakings for collective investment in transferable securities funds.

  • Increase in mortgage products in June, says Trigold

    17 July 2008

    The number of mortgage products has increased for the first time in over 12 months in June, according to Trigold.

  • James Hay adds two Standard Life funds to wrap

    21 July 2008

    James Hay has added two Standard Life Investment funds to its wrap and Sipp platform bringing total funds to 1,358.

  • Jane keeps cautious eye on inflation

    17 July 2008

    M&G's cautious multi-asset fund has been investing in overseas government bonds at the short-dated end of the spectrum rather than long-dated bonds and UK gilts.

  • Journey to the centre of the surf

    17 July 2008

    In this new column, I will be analysing the information that IFAs download from the Old Broad Street Research website to see what trends emerge.

  • Jupiter income trust

    17 July 2008

    Money Marketing reported last week that Jupiter's income trust has not been meeting the Investment Management Association's yield standard. However, recently updated figures from the firm show it is above IMA requirements.

  • Jupiter manager points to European inflection point

    18 July 2008

    Jupiter European special situations manager Cedric de Fonclare believes we have reached an inflection point on the continent.

  • Keep it in the family

    17 July 2008

    My wife and I want to buy and move into my parents' home so that it frees up some capital for them to build a smaller house in the garden. We do not presently have a mortgage and do not know if we could get one in the current climate. How much would it cost and could we afford the repayments?

  • King wishes BoE had been given power to trigger special resolution regime

    22 July 2008

    Bank of England governor Mervyn King has admitted he would have preferred that the Bank had been granted the power to pull the trigger for the special resolution regime as well as the FSA.

  • L&G launches medical underwriting service

    17 July 2008

    Legal & General has unveiled its plans to launch a medical underwriting service for group income protection schemes.

  • L&G launches sales tool for advisers

    16 July 2008

    Legal & General has unveiled its plans to launch a sales tool to help advisers sell more protection.

  • L&G reduces whole of life rates

    21 July 2008

    Legal & General has unveiled plans to reduce its rates for its whole of life protection plan by up to 6 per cent.

  • L&GP appoints finance director

    18 July 2008

    Legal & General Property has appointed Andy Banks as its new finance director.

  • Lack of advisers hitting market

    17 July 2008

    The decline in the number of advisers selling protection products could halt product development and market progression, warns Tenet.

  • 'Lay down letter of the law on Omo'

    17 July 2008

    Leading pension campaigners and advisers are calling for annuity sales to be regulated to increase income for pensioners.

  • Liberal Democrats pledge tax cuts

    17 July 2008

    Liberal Democrat leader Nick Clegg has vowed to cut wasteful Government spending and reduce taxes for poor families.

  • Life products are decades out of date

    18 July 2008

    Life insurance has been branded "outdated" by Lifesearch head of protection strategy Kevin Carr.

  • Listen and learn

    17 July 2008

    The FSA has made clear that there is no certainty that any of the retail distribution review proposals will carry over into the mortgage market but it would be foolish not to listen to the main features of the discussion and consider if there are any pointers as to how they might relate to our situations.

  • Listen to the guru

    17 July 2008

    It would be difficult to overestimate the contribution of Stewart Ritchie to the debate over pensions in the last four decades as he announces his retirement from Aegon.

  • Make compliance self-regulated under criminal law

    17 July 2008

    What on earth is wrong with the financial services business (never mistake it for a profession)?

  • Market leaders move to simplify

    22 July 2008

    Simplifying the submission process for IFAs is top of the agenda this week as Royal Liver becomes the latest protection provider to boost its online system.

  • Mercer warns that PMI shift could follow pension path

    17 July 2008

    Private medical insurance could face a shift echoing the move from defined-benefit to defined-contribution pensions, warns Mercer.

  • Meteor Asset Management - Prima Growth Plan 8

    17 July 2008

    Meteor Asset ManagementPrima Growth Plan 8

  • Meteor Asset Management - Prima Plus Plan 3

    17 July 2008

    Meteor Asset ManagementPrima Plus Plan 3

  • MetLife building bridge to IFAs

    17 July 2008

    MetLifeRetirement Portfolio

  • MGM enhances service for annuity

    17 July 2008

    MGM Advantage has supported its enhanced annuity product with an fast application and administration process aimed at reducing the time IFAs spend in an area where tight margins impact on commission levels.

  • Mind the draft

    17 July 2008

    Last week, I gave an overview of the recent changes to the taxation of company-owned investment life insurance policies.

  • Money Portal strikes fund research deal with OSBR

    17 July 2008

    Money Portal is partnering with Old Broad Street Research in a move that will provide fund support to the IFA's advisers.

  • Morgan looks to double IFA sales

    17 July 2008

    JP Morgan Asset Management aims to double the amount of business it does through IFAs from £3.5bn to £7bn by 2012.

  • Mortgage broker banned for fraud

    17 July 2008

    The FSA has banned Plaistow-based mortgage broker John Akinduro, trading as Highflyer Business Services, for submitting false mortgage applications to lenders.

  • Mortgage proc fees on way out

    17 July 2008

    Premier Mortgage Service is conducting a business review over concerns that procuration fees will fall away over the next two years to be replaced by advice fees.

  • Nationwide cuts rates by up to 0.46%

    16 July 2008

    Nationwide Building Society has cut the price of some of its fixed rate and tracker mortgage deals by up to 0.46 per cent.

  • Network Data issues profit warning ahead of results

    22 July 2008

    Network Data Holdings has issued a profit warning to the stockmarket this morning ahead of its results due to be published on September 26.

  • New cash fund from Edward Jones

    17 July 2008

    Financial services firm Edward Jones is offering a new cash fund, premier cash fund shares, with easy access for investors.

  • New platforms will be "killed" in current market, warns Cofunds chief

    16 July 2008

    New entrants to the platform sector are “going to get killed” in the current market, Cofunds chief executive Charlie Eppinger has warned.

  • New Star calls time on Tri-Star

    16 July 2008

    The latest step in the rationalisation of New Star's fund management range was made last week as chairman John Duffield announced the firms intention to merge its underperforming Tri-Star product.

  • New Star merging Tri-Star fund into cautious portfolio

    17 July 2008

    New Star is to streamline its fund range in the cautious managed sector and plans to merge its struggling £28.2m Tri-star fund into Craig Heron's £47.6m cautious portfolio.

  • Nine out of 10 advisers face administration burden, says Skandia

    17 July 2008

    88 per cent of financial advisers consider rebalancing client portfolios once a year but only 11 per cent have the relevant discretionary management experience to do so without client approval, according to a survey commissioned by Skandia.

  • No consensus on charging, says Pada

    17 July 2008

    The Personal Accounts Delivery Authority admits there is no clear consensus from the industry on a suitable charging structure for personal accounts in a consultation response document this week.

  • NU clinical chief calling for change of PMI focus

    17 July 2008

    Private medical insurance is an archaic way of managing healthcare products, says Norwich Union Healthcare head of clinical governance Dr Doug Wright.

  • Nucleus in trail offer to adviser

    17 July 2008

    Nucleus has agreed to pay trail commission to an adviser for a temporary period after he left one of its member firms.

  • Octopus launches VCT portfolio service

    22 July 2008

    Octopus Investments has launched a new portfolio service that will look to offer a total return of over 10 per cent per annum.

  • One million homes to be built in two UK regions

    22 July 2008

    Over one million homes will be built in the East Midlands and the South West region by 2026 if government plans to tackle housing shortages are given the green light.

  • Opportunity in melding strengths of PPI and IP

    17 July 2008

    The industry can take some positive lessons from the problems over payment protection Insurance, says Pacific Life Re.

  • Paragon enters talks over potential offers

    22 July 2008

    Buy-to-let lender Paragon has confirmed it has entered discussions with several parties over potential offers for the firm.

  • Pension guru Ritchie retires

    17 July 2008

    Pension guru Stewart Ritchie has fired a parting shot to the Government over the danger of means-testing to personal accounts as he announces his retirement after 36 years in the industry.

  • Personal Touch buys Clear

    17 July 2008

    Personal Touch Financial Services is to buy packaging firm Clear Mortgage Administration to widen its distribution and access to markets for its members.

  • Peter Webb resigns from Unicorn Asset Management

    21 July 2008

    Peter Webb has resigned as chief executive and director of Unicorn Asset Management.

  • Pilot put on wrong course

    17 July 2008

    I don't often make a point of coming back to discuss the same subject in consecutive weeks so I confess to feeling slightly uncomfortable this week as I write this column.

  • Pink Home Loans - RBS Intermediary Partners Three-Year Fixed

    18 July 2008

    Pink Home LoansRBS Intermediary Partners Three-Year Fixed

  • Portillo and Brand to host ABI awards

    22 July 2008

    Michael Portillo and Jo Brand are to host this year’s ABI Financial Media Awards.

  • Premier unshackles selector funds

    17 July 2008

    Premier Asset Management has converted two of its funds of funds to multi-asset funds.

  • Premier Wealth Management reveals expansion strategy

    22 July 2008

    IFA Premier Wealth Management is targeting financial services firms in the North West of England over the next twelve months as part of its short-term expansion strategy.

  • Prestbury hit with £1 million loss

    22 July 2008

    Prestbury Holdings has been hit with a £1m loss for the year ending 31 December 2007, down from a £245,778 profit in 2006.

  • Price is in the driving seat

    17 July 2008

    The majority of protection products are driven by price rather than features, according to delegates at the Money Marketing protection round table.

  • Price is wrong so Friends ditches Pantheon sale

    17 July 2008

    Friends Provident has called off plans to sell IFA firm Pantheon Financial after failing to get a deal at the right price.

  • Qualification debate rages on

    21 July 2008

    Higher qualifications are now widely regarded as an inevitable outcome of the RDR and the focus has shifted to what will be introduced and how.

  • Ratio hornblower

    17 July 2008

    The savings ratio is based on the latter - it is the difference between what we earn and what we spend, so it is effectively the net increase in savings held minus the net increase in debt owed.

  • RDR rules must span whole of market to ensure consistency, says Skandia

    16 July 2008

    New retail distribution review rules must apply to the entire financial services industry to avoid consumer confusion over advice and service according to Skandia.

  • Recurrent income is key driver for IFA businesses, says survey

    18 July 2008

    IFAs see increasing value in fee based advice and trail commission according to an IFA performance benchmark survey.

  • Regulator faces tough task to convince MPs of TCF benefits

    17 July 2008

    Aifa believes the FSA will struggle to persuade MPs about the costs and benefits of its treating customers fairly initiative.

  • Reliance concern at FSA data

    17 July 2008

    Kent Reliance Building Society has written to the FSA to express concern that it is asking for more information on the business than its own directors would normally have.

  • RGA profits up 30 per cent

    22 July 2008

    Reinsurer RGA has recorded a 30 per cent rise in profits during the second quarter of this year.

  • Risk tool from 2plan

    17 July 2008

    National IFA 2plan is offering a risk-profiling tool to help advisers determine a client's risk appetite and appropriate asset allocation.

  • Royal Liver to speed up underwriting process

    21 July 2008

    Online protection provider Royal Liver has implemented phase one of its enhancement programme into its adviser extranet facility.

  • Royal Skandia - Protected Portfolio Investment - Global Vista Fund

    17 July 2008

    Royal SkandiaProtected Portfolio Investment - Global Vista Fund

  • Santander gets in on floor with A&L deal

    17 July 2008

    Santander's £1.2bn takeover of Alliance & Leicester has been welcomed as positive news for the bealeaguered mortgage industry.

  • Santander's steal of the century

    18 July 2008

    The talk of the mortgage town this week has been all about Santander's £1.26bn swoop for Alliance & Leicester on Monday.

  • Seager predicts fifth of firms could close

    17 July 2008

    The retail distribution review could kill off up to 20 per cent of the intermediary market, predicts Whitechurch chief executive Kean Seager.

  • Sesame calls for 10-year pact for retiring advisers

    17 July 2008

    Advisers planning to retire in the next 10 years should not be forced to achieve a diploma equivalent qualification as part of the retail distribution review, says Sesame.

  • Sesame calls for 10-year pact for retiring advisers

    16 July 2008

    Advisers planning to retire in the next 10 years should not be forced to achieve a diploma equivalent qualification as part of the retail distribution review, says Sesame.

  • Shady brokers feel FSA force

    17 July 2008

    The past seven months has seen the FSA clamp down on mortgage fraud with 14 enforcement actions taken against brokers.

  • Skandia International launches in Singapore

    16 July 2008

    Royal Skandia, part of Skandia International, has opened a branch in Singapore.

  • Skandia Multifunds - Protected Portfolio Investment

    17 July 2008

    Skandia MultifundsProtected Portfolio Investment

  • Skandia passes Ssas book to Rowanmoor

    17 July 2008

    Skandia is passing its Small self-administered schemes book to Rowanmoor Pensions, after deciding that the market is not core to the its business.

  • Smith to head IT at Nucleus

    17 July 2008

    Nucleus Financial Group has appointed Andrew Smith as chief technology officer. He will be responsible for infrastructure and proposition delivery and process design of the platform.

  • Snowdon says Wave will return

    17 July 2008

    Wave chief executive Colin Snowdon says it will re-enter the UK mortgage market when capital markets reopen.

  • Standard in the vanguard

    17 July 2008

    In November 2002, Standard Life quietly started something of a revolution in the financial services market when it became the first UK life office to give free access to stochastic modelling tools. This started a trend that has seen increasing numbers of firms put such tools at the heart of their advice process.

  • Stoakley defends Schroders' move into specialist funds

    17 July 2008

    Schroders managing director of UK retail Robin Stoakley has defended the firm from advisers who question its recent raft of specialist fund launches into fashionable areas.

  • Sub-prime firms fear crackdown by FSA

    17 July 2008

    The FSA looks set to come down hard on the non-conforming mortgage market in its thematic review on arrears due this month.

  • Target practice

    17 July 2008

    The damage done over the past few weeks in the equity markets heralds a difficult phase for the investment industry.

  • The crying game

    17 July 2008

    Do you know the thing I am finding most difficult about this business?" asked the managing director of Huxley Epsilon, the self-proclaimed future of financial advice.

  • The Equitable Life fiasco

    17 July 2008

    The Equitable Life fiasco still presents a huge dilemma for advisers with clients that are still invested in the closed with-profits fund.

  • The guide divide

    17 July 2008

    We know that a week is a long time in politics so there are no surprises that a generation brings about enormous political changes.

  • Thoresen says RDR is too complex

    17 July 2008

    Aegon UK chief executive Otto Thoresen has branded the retail distribution review too complex for the industry to deal with.

  • Tisa appoints non-executive director

    17 July 2008

    The Tax Incentivised Savings Association has appointed Tony Solway as a non-executive board director.

  • Towergate raises £100m to buy IFAs

    21 July 2008

    Towergate Financial, the financial advisory arm of Towergate, has raised over £100m as part of its plan to continue to acquire regional IFAs.

  • TPD confusion poses problems

    17 July 2008

    Axa is working with the Association of British Insurers to address problems over total permanent disability insurance.

  • Train to win

    17 July 2008

    Looking back over my year as president of the Chartered Insurance Institute, Winston Churchill's words ring in my ears: "Give us the tools and we will finish the job."

  • Transfer out of Equitable may be better for some, says Hargreaves

    17 July 2008

    Hargreaves Lansdown has warned that transferring out of the Equitable Life fund could be better for some investors than waiting for compensation that may never materialise.

  • Trevor Matthews elected as new CII president

    16 July 2008

    Trevor Matthews has been elected the new president of the Chartered Insurance Institute for 2008-09, following the end of Lord Hunt of Wirral’s tenure.

  • Two year fixed rates now below 7%

    21 July 2008

    The average two year fixed rate is now below 7 per cent after a number of lenders including Halifax and Nationwide Building Society have cut rates.

  • UK and New Zealand firms link to aid Qrops switches

    17 July 2008

    Montfort International has designed a Qrops financial planning service to help UK and New Zealand savers transfer their pension savings to respective countries.

  • UK life sales next domino to fall in global crunch, says analyst

    16 July 2008

    The UK life sales are the “next domino to fall” in the global credit crunch, analysts Keefe Bruyette & Woods have forecast.

  • US firm Focus Financial adds IFA firm to buys

    17 July 2008

    Greystone Financial Services has bought Midlands IFA Roger Harris & Co as part of the acquisition plans of American parent Focus Financial.

  • Variable annuities set to shake up life office sector

    17 July 2008

    Life offices that are early entrants to the variable annuity market could be the big winners,m with late entrants losing out, says Fitch Ratings.

  • Wesleyan appoints director of general insurance

    16 July 2008

    Wesleyan Assurance Society has appointed Andrew D’Arcy as director of general insurance.

  • Wheatcroft wins achievement award

    17 July 2008

    Swiss Re technical manager Ron Wheatcroft has won the outstanding achievement award at the Protection Review awards.

  • Winterflood to appeal £4m FSA fine

    18 July 2008

    Stockbroker firm Winterflood is appealing a record FSA fine of £4m for alleged market abuse.

  • Woolwich to cut fixed rate mortgages

    21 July 2008

    Woolwich is to cut its fixed rate mortgages by as much as 0.32 per cent as a result of lower swap rates.

  • Wringing the changes

    17 July 2008

    As I write this from my home in Leeds, I am struck by the unpredictability of the British weather. In Yorkshire today, there have been hailstones, incredibly heavy rain showers and spells of glorious sunshine. There is no guarantee what the weather will bring tomorrow.

  • Zurich launches 18 new funds

    17 July 2008

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