Money Marketing
16 September 2010
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N&P reassured Keydata client that investment would deliver
16 September 2010
Norwich & Peterborough Building Society reassured a concerned Keydata client that his investment would perform strongly just months before the firm’s collapse.
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£4.7Bn RMBS for RBS
16 September 2010
RBS is offering a £4.7bn residential mortgagebacked security for the first time since the credit crunch began as it looks to raise capital to return to full private ownership.
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'55% Tax charge will put people off saving'
16 Sep 2010
Applying a tax charge of 55 per cent on unused pension assets on death will put people off saving, according to pension advisers.
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A new breed of income insurance
21 Sep 2010
Several products have recently been launched that bring a new approach to PPI.
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Adviser Fund Index
16 September 2010
The rise of exchange-traded funds is one of the biggest product stories of the past decade. Demand for low-cost stockmarket exposure and access to alternatives pushed global ETF assets from less than $100bn in 2000 to in excess of $1tn in 2009, according to BlackRock. Product choice has also expanded rapidly and investors are able to allocate across equities, bonds and commodities via more than 2,000 ETFs.
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Advisers must change the dynamic to avoid a bleak future
20 Sep 2010
Ronan Kearney says advisers need to be alert to life companies’ new direction.
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Advisers sign up for Aifa's alternative
16 September 2010
Applications for the Association of Independent Financial Advisers’ diploma in investment planning are now open and Aifa says some advisers have signed up already.
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Advisers urged to be on alert over property plan
17 Sep 2010
Equity-release specialists have warned advisers to be wary of a new unregulated property income plan from new property company Equity IQ.
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Aegon says cuts won't hit support for brokers
17 Sep 2010
Aegon says cuts are not a kneejerk reaction.
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Aifa could vote on restricted advice firms
16 Sep 2010
Aifa says it will consider holding a member vote on whether to allow restricted advisers to join after the RDR deadline.
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Ariel view
20 Sep 2010
A new name has appeared among the elite of fixedinterest fund management. I have been keeping an eye on Ariel Bezalel since the launch of the Jupiter strategic bond fund in 2008 and he has not disappointed.
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Ascentric predicts networks will set up own platforms
16 September 2010
Networks and distribution firms are likely to follow in Sesame Bankhall Group’s footsteps in developing their own platforms, according to Ascentric.
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Axa corporate wrap would challenge Friends and Bluefin
17 Sep 2010
Axa Wealth may end up competing with both Friends Provident and Axa-owned IFA firm Bluefin if it pursues the development of its own corporate wrap plans.
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Banks face big rise in capital requirements
16 September 2010
Banking regulators have agreed a package of reforms that will more than triple the amount of capital banks are required to hold in reserve under Basel III.
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Branch lines
17 Sep 2010
Outgoing Lloyds Banking Group sales director of mortgages Nigel Stockton told Money Marketing earlier this month that the bank’s share of intermediary lending or a percentage of its overall lending could fall by a third over the next few years.
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Brazil and China exposure underpins latest Merchant Capital product launch
16 September 2010
Merchant Capital has set up a structured product that offers exposure to emerging markets Brazil and China.
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Buffett says US will avoid double dip
16 September 2010
Berkshire Hathaway chairman Warren Buffett predicts the US will avoid a double-dip recession. He says despite sentiment on the US recently turning sour, businesses are recov-ering across the board.
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Cann warns advisers may face tax scrutiny if they charge VAT
16 September 2010
Advisers who start charging VAT may open themselves up to scrutiny over their past tax bills, warns Institute of Financial Planning chief executive Nick Cann.
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CII criticised on gap analysis
15 Sep 2010
Advisers with an old CII qualification may have to obtain a full RDR-approved diploma because the CII is preventing them from carrying out a gap analysis, according to IFA firm PageRussell.
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Cummings final interview as Aifa director general
17 Sep 2010
Chris Cummings discusses the high and lows of his tenure and what he believes the future will hold for the IFA profession.
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Diversifying could increase risk
17 Sep 2010
Saltus Partners says IFAs who are trying to reduce the risk in their clients’ portfolios may be doing the opposite.
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Division bell
20 Sep 2010
Bond and equity markets are split over prospects for the global economy and fund managers are warning that investors will take a hit if they are on the wrong side of the divide.
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Do we need another trade body?
21 Sep 2010
Alan Lakey discusses the need for a dedicated trade body in the protection market.
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End of age 75 rule could boost scheme pensions
16 Sep 2010
Scrapping the age 75 annuitisation rules could boost the market for scheme pensions by offering wealthy savers a way to sidestep the proposed cap on retirement income.
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Equitable chief says policyholders should settle for £2bn
16 September 2010
Equitable Life chief executive Chris Wiscarson says policyholders should accept compensation worth £2bn rather than the £4bn-£4.8bn recommended due to concerns over Government finances.
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Firm pledges support for savings campaign
16 September 2010
Tenet has pledged its support for Money Marketing’s campaign to improve saving and protection rates in the UK.
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Food cost rises keep CPI at 3.1%
16 September 2010
The consumer price index stayed at 3.1 per cent in August. The Office of National Statistics says the increasing cost of food and clothing has led to the high rate.
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Forecasts of exodus are exaggerated
16 September 2010
The first meeting of Money Marketing’s panel of business transformation experts said the much heralded exodus of advisers from the industry has been exaggerated and while there may be a short-term blip, early predictions of up to 50 per cent moving out are wide of the mark.
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Freedom of choice
16 September 2010
In the first of a series of articles looking at FSCS funding, compliance consultant Adam Samuel says artificial fee blocks are an unfair way to fund consumer compensation
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FSA looks at increasing data collection for RDR
16 September 2010
FSA: Focus on advisercharging, costs of products and platform use
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Goldman Sachs Intl failed to tell FSA of US probe
16 September 2010
The FSA has fined Goldman Sachs International £17.5m for failing to tell the regulator it was under investigation in the US.
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Goods vibrations
21 Sep 2010
We could learn a thing or two from the Apple marketing machine and adapt our approach to selling protection
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Hawksmoor takes bearish stance on gilts
16 September 2010
Multi-manager Hawksmoor believes that gilts and other developed market government bonds represent poor long-term value, even though the asset class has recently outperformed.
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IFA who aided multi-millionpound loan fraud is jailed
16 September 2010
An IFA was sentenced to five and a half years in jail at Birmingham Crown Court last week for falsifying mortgage applications on behalf of a client.
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IFAs angry at Standard direct sales plan
16 Sep 2010
IFAs have criticised Standard Life for not valuing the adviser channel
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IFP will have tough task getting cap-ad rethink
16 September 2010
Institute of Financial Planning chief executive Nick Cann bel-ieves the IFP faces a big task in getting the FSA to ease its new capital adequacy requirements for financial planning firms.
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Ignis wants plan B with return of QE
16 September 2010
Further quantitative easing should be introduced as soon as possible to offset the fiscal tightening in the Government’s upcoming comprehensive spending review, according to Ignis Asset Management.
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Interest-only move shows FSA's idiocy
16 September 2010
THE EDITOR’S COMMENT OF THE WEEK
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Intermediaries defend use of interest-only loans
16 September 2010
Montlake: ‘Circumstances’
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Investec expands range with five deposit plans
16 September 2010
Investec Structured Products has launched its latest raft of offerings, including deposit products, that aim to return initial capital and investment plans where capital is at risk.
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Ions in the fire for multi team
20 Sep 2010
Liontrust chief executive looks to add multi-asset and multi-manager teams to the firm.
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Is it time for the landlords to make their move?
17 Sep 2010
Mark Harris says it is an interesting time for the experienced landlord and there are opportunities for those who want to be active.
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Is Stephen Gay Aifa's man for the moment?
17 Sep 2010
Nic Cicutti says Stephen Gay must have been head and shoulders above the other candidates for the hot seat at Aifa.
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Jupiter jumps into FTSE 250 as market cap soars to £1bn
16 September 2010
Urquhart-Stewart: ‘Invest in fund managers rather than the stock’
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Letters to the editor
16 September 2010
Yet another idea for protecting consumers that removes their choice and, in many instances, fouls up their existing financial planning. Many clients rely on an inheritance, tax-free cash from pensions, sale of investment properties or simply a future downsize as a means of repayingoutstanding capital. Are consumers so truly stupid that they cannot be relied on to make decisions for themselves? As Professor Jim Gower stated when unveiling his plans for consumer protection in 1984, ...
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'Life offices will raise margins at expense of advisers'
17 Sep 2010
Allium Capital has warned advisers that life companies are trying to “dramatically increase” their margins at the expense of advice firms.
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Loaded question
16 September 2010
Our panel hit out at the practice of loading premiums and lament the continuing fallout over PPI misselling
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Lost and found
16 September 2010
Ask the right questions and even the most uncertain of clients can be put at ease in a first meeting
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M&G gets in early to fight fire of inflation
20 Sep 2010
Inflation may not be so much an issue right now, with deflation concerns higher up the agenda, but the consensus seems to be that the UK will feel inflationary forces sooner rather than later.
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Mac and Mae merger to have big UK impact
16 September 2010
Cicero Consulting director Iain Anderson says potential plans to merge US government-backed mortgage lenders Freddie Mac and Fannie Mae will have a significant impact on the UK securitisation market.
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Malone joins fraud forum
16 September 2010
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Martin Currie set to widen absolute range
16 September 2010
Martin Currie is considering adding a further three funds to its Ucits III absolute alpha range.
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Metlife opts for flexible over fixed-term annuity
16 September 2010
Grinstead: ‘Look at new solutions in at-retirement area’
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Midshires services agent faces jail for £100k password scam
16 September 2010
An employee at Birmingham Midshires has been found guilty of unauthorised activity resulting in the theft of £100,000 from customer accounts.
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Mind pension reality gap, warns Sun Life
16 September 2010
High net-worth customers may have the biggest expectation gap between what they have saved for retirement and the size of pension they will receive, according to Sun Life Financial of Canada.
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MM Leader: Framework for a full debate
16 September 2010
Money Marketing’s Pave The Way to Save campaign is calling for a more constructive approach to regulation from the new Consumer Protection and Markets Authority.
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Money Marketing business transition group
16 September 2010
Some of the panel members from the first debate of the Money Marketing business transition group last week: from top: George Kinder, John Baxter, Simon Chamberlain
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Mortgage arrears are down by 8%
16 September 2010
New mortgage arrears cases have fallen by 8 per cent, according to the latest mortgage lending statistics from the FSA.
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MPs press for higher Equitable Life payouts
16 September 2010
Lloyd: ‘Maximum compensation’
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Multi-tie Openwork buys 2plan to add IFA option
16 September 2010
Openwork is to acquire 2plan Wealth Management in a bid to build its whole of market IFA capability ahead of the RDR.
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Nest set to escape the spending axe
16 Sep 2010
Pension experts say Nest looks likely to survive the Government’s comprehensive spending review despite earlier speculation that the Treasury wanted to scrap it in favour of a cheaper alternative.
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Nucleus says it's managing potential conflicts
16 September 2010
Nucleus chief executive David Ferguson says he is satisfied that the IFA-owned platform is managing conflicts of interest effectively.
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On guard
16 September 2010
The likely magnitude of this present slowdown continues to induce strong debate, leading ultimately to amplified volatility in asset markets, much as it did in late 2007.
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Osborne makes Chote choice to oversee budget responsibility
16 September 2010
Institute for Fiscal Studies director Robert Chote has been announced as Chancellor George Osborne’s preferred candidate to chair the Office for Budget Responsibility.
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Out of Context
16 September 2010
“I learned to count wads of £20 notes in 20 seconds flat by listening to a tape narrated by Noel Edmonds.”
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Passporting route could be costly
16 September 2010
The Federation of European Independent Financial Advisers says many advisers considering passporting into the UK to avoid RDR regulations may find the process too costly or intensive to be worthwhile.
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Plain and simple
16 September 2010
My beautiful wrap
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Polson leaves Standard Life
16 September 2010
Standard Life head of trading Mark Polson has left the company. Polson joined Standard in 2007 to develop the platform business. His departure comes less than a week after Standard announced it was cutting up to 500 jobs in the next 15 months.
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Rathbone's alpha strategy
16 September 2010
The multi-asset team at Rathbone Unit Trust Managers is focusing on actively managed funds rather than passive strategies that follow the direction of the market.
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Redwood rejects casino claims
16 September 2010
Conservative MP John Redwood believes that reckless casino banking was not to blame for the financial crisis and says forcing banks to separate investment and utility banking could see many move offshore.
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Relief mission
16 September 2010
John Woolley, a director of Technical Connection, considers the current legislation on deficiency relief on life insurance policies and possible changes
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S&P follows fund firms' example
16 September 2010
S&P Fund Services says it rates multi-manager funds by putting them through the same process that multi-managers use for their underlying managers.
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Simple as VAT
16 September 2010
The second in a series looking at VAT and financial services
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Slowdown showdown as cuts and tax rises loom
16 September 2010
The Bank of England held the bank rate at 0.5 per cent for the 18th month in a row last week and held its quantitative easing programme at £200bn.
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Social order
16 September 2010
The social impact bond could have a more regional appeal
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Solving the Qrops question
16 Sep 2010
John Greenwood says trouble is brewing for advisers claiming Qrops flexibility.
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Spread vetting
16 September 2010
Bouts of volatility and nervousness remain in the market while financials continue towards recovery
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Swiss firm buys HNW adviser
16 September 2010
Swiss asset management firm Helvetia Wealth has bought Scottish independent adviser Dunedin Independent.
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Taking the initiative
21 Sep 2010
Kim North says now is the time for the IFA profession to really raise public awareness.
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Taylor made
20 Sep 2010
10 MINUTES WITH…DAVID TAYLOR
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Tenet offers run-off PI cover to ex-ARs
16 Sep 2010
Tenet has set up a scheme that allows former appointed representatives to obtain run-off professional indemnity insurance with the same level of cover offered to practising advisers.
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The cultural Resolution
20 Sep 2010
Please give a warm welcome to Clive Cowdery, said OBSR’s managing director Richard Downs as he introduced the evening’s keynote speaker. “If for no other reason than he might soon be your boss.” The audience of fund managers and other investment industry types at the third annual OBSR Honours for Excellence in Investment all laughed - some more nervously than others.
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The end of summer
20 Sep 2010
Brian Tora says the demise of Connaught casts an autumn chill over a benign results season and reminds investors that the corporate outlook is far from sunny.
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The value of training
16 September 2010
Although it may seem strange, I am rather relieved that news from Aviva’s latest retail distribution review update suggests changes to business models rather than examinations are now advisers’ primary concerns when it comes to being ready for the RDR.
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Thorman says 'harsh' Moneywise fine was FSA market warning
16 September 2010
Ascentric managing director Hugo Thorman has criticised the FSA fine of Moneywise IFA, saying the sanction was the regulator’s way of letting the platform market know it will come under greater scrutiny.
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Threesixty dismisses SimplyBiz restricted advice claim
16 Sep 2010
Threesixty has rejected suggestions by SimplyBiz chairman Ken Davy that few advisers will consider the restricted advice route after implementation of the retail distribution review.
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Tony Vine-Lott
16 September 2010
The director general of the Tax Incentivised Savings Association has come from a structural engineering background and is now building a structured argument at Tisa on tax issues over the RDR, child trust funds and pensions Interview by Gregor Watt
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Tough get going
16 September 2010
“Although the current mortgage market poses many challenges, it also provides advisers and intermediaries with an opportunity to prove the worth of expertise and professional standards.”
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Towry appoints investment chief
16 September 2010
Towry has appointed Dr Robert Dawkins as chief investment officer. He joins from Aberdeen Asset Management.
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Understanding the benefits of IP
21 Sep 2010
Emma Prescott says critical cover can be a gamble and IP can be a safer bet.
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Watch out for fake firm claiming to be Octopus
16 Sep 2010
Octopus Investments has warned its VCT clients that a third party is misusing its name and says shareholders have been contacted as part of an illegal boiler room scam.
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Weale approved as MPC member
16 September 2010
Economist Dr Martin Weale has been approved as a member of the monetary policy committee. He was provisionally appointed by the Treasury in July. Weale is a director of the National Institute of Economic and Social Research.
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Wills & Co FSCS bill hits £650k after 80 cases with 1,300 to come
16 September 2010
The Financial Ombudsman Service upheld 99 per cent of complaints against failed stockbroker Wills & Co in the first half of this year and claims to the FSCS have reached £650,000 after just 80 cases.
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Woodford says prospect of a double dip is rising
16 September 2010
Invesco Perpetual income guru Neil Woodford has warned that the chances of a double-dip recession in the UK are on the rise.
