Money Marketing
17 June 2009

  • £300K profit for IN Partnership

    18 Jun 2009

    IN Partnership made a profit of £303,794 for the year ended December 31, 2008 compared with a profit of £369,591 for the 18 months to the end of 2007.

  • 15% of prime loans in negative equity

    23 Jun 2009

    Fifteen per cent of prime UK mortgages are currently in negative equity, according to Fitch Ratings.

  • 44% expats in UK considering returning home, says survey

    23 Jun 2009

    Almost of half of expatriates based in the UK are considering returning home in light of the current financial crisis, according to the latest expat survey from HSBC International.

  • A good win for all of us?

    19 Jun 2009

    This week former RBS chief executive Sir Fred Goodwin handed back more than a third of his pension.

  • A new pension pack

    18 Jun 2009

    Ministerial reshuffles are part of political life so we should not be surprised that both James Purnell and Rosie Winterton left their positions in the recent Government reshuffle. Purnell walked while Winterton was made regional minister in the Business, Innovation and Skills Department.

  • Adviser Fund Index

    18 Jun 2009

    Absolute return funds and bond portfolios were the big winners among cautious investors in last month's Adviser Fund Index rebalancing session.

  • Advisers back Hogg joining regulator

    18 Jun 2009

    Advisers have applauded the appointment of Ken Hogg as the FSA insurance sector director, saying his background in retail financial services will benefit the industry.

  • Advisers don't care for LTC levy

    18 Jun 2009

    Leading long-term care advisers have questioned potential Government proposals to introduce a £12,000 levy, saying it would be unfair and unworkable.

  • Aegon looks at platform move

    18 Jun 2009

    Aegon has hired former UBS Wealth Management executive director Tim O'Connor to sound out a potential launch into the wrap market.

  • Aegon looks at wrap move

    17 Jun 2009

    Aegon has hired former UBS Wealth Management executive director Tim O’Connor to sound out a potential launch into the wrap market.

  • Aegon sets sights on multi-assets

    18 Jun 2009

    Aegon is looking to add a multi-asset fund to its range.

  • Aifa e-academy leads RDR aid for advisers

    18 Jun 2009

    Aifa has launched its business transition programme to help firms meet the demands of the retail distribution review.

  • Albion Ventures Development VCT looks to raise £25m

    18 Jun 2009

  • All aboard the Euro-star

    18 Jun 2009

    UK investors are often unenthusiastic about continental Europe. This view is misguided as many factors mean Europe is a great investment destination, not least because of the scale and variety of the opportunities available.

  • All Greek

    18 Jun 2009

    Psychometric" - from the Greek "metron", meaning "measure", and "psycho", meaning "insane". OK, so that second bit isn't true but it sometimes feels as if it should be. I've always seen psychometric testing as a bit of a copout - a way to abdicate responsibility for a decision and an excuse not to trust one's own judgement - although no doubt psychologists would find that revealing.

  • Alliance & Leicester - Four Year Fixed Rate

    19 Jun 2009

    Alliance & LeicesterFour Year Fixed Rate

  • Alliance & Leicester - Four Year Fixed Rate Feesaver

    19 Jun 2009

    Alliance & LeicesterFour Year Fixed Rate Feesaver

  • Analysis: Asset management to 'become more polarised'

    23 Jun 2009

  • Analysis: Investment trusts criticise proposed European reforms

    23 Jun 2009

  • Arbuthnot appoints former Keydata consultant for structured products business

    22 Jun 2009

    Arbuthnot Banking Group has announced the appointment of former Keydata consultant Adrian Neave for the firm’s new structured products distribution business.

  • Arrears up one third, says FSA

    22 Jun 2009

    Annual mortgage arrears were up a third in the first quarter of 2009, according to the FSA.

  • ASA finds chaser ads misleading

    18 Jun 2009

    The Advertising Standards Agency upheld a Lloyds TSB complaint over advertisements by Debt Free UK, a claim company, which suggested credit cards or loans taken out before April 2007 could be unenforceable.

  • ASA upholds Lloyds TSB complaint against debt claim chaser

    17 Jun 2009

    The Advertising Standards Agency has held up a complaint from Lloyds TSB with regard to adverts by Debt Free UK, a claims firm.

  • Ascentric teams up with 1st Software founder

    22 Jun 2009

    Wrap platform Ascentric has teamed up with former managing director and joint founder of 1st Software Mik Cons, to provide an independent business process review to IFA firms.

  • Ascentric, Novia, Transact pledge loyalty to advisers

    18 Jun 2009

    Platforms have reassured advisers that they are not seeking to target consumers directly.

  • Asset allocators go overweight in equities

    18 Jun 2009

  • Aviva chief financial officer Philip Scott to step down

    18 Jun 2009

    Aviva executive director and chief financial officer Philip Scott will step down at the end of the year after 36 years with the group.

  • Aviva sells Australian life and wrap business

    22 Jun 2009

    Aviva has raised £452m through selling off its Australian life business and wealth management platform to National Australia Bank.

  • Aviva shifts CI cover from conditions to principles

    18 Jun 2009

    Aviva is to revamp its critical-illness insurance by introducing a set of guiding principles to govern and develop the products.

  • Ballot lessons

    18 Jun 2009

    I am proud and grateful to have had the endorsement of the great British public since I started my succesful IFA practice in 1972. Yes, far longer than most current MPs and in many cases long before many of the little beauties were born.

  • Bank of England unsure of easing success

    17 Jun 2009

    The Bank of England’s latest Monetary Policy Committee minutes have revealed its uncertainty around the success of the quantitative easing strategy.

  • Bank on simple policy

    18 Jun 2009

    I have read a few interesting articles recently that set me thinking. The first that caught my eye was an entertaining piece by Steve Bee. He is really into Twitter and particularly likes its central attribute - that posts (or tweets) have to be kept to a maximum of 140 characters (not words). He went further and suggested, somewhat tongue in cheek, that pension legislation should be kept to 140 characters.

  • Barclays accepts BlackRock offer

    17 Jun 2009

  • Barclays officially accepts Blackrock offer for BGI

    17 Jun 2009

    BlackRock has received written notice that the Barclays board has accepted its offer to acquire Barclays Global Investors.

  • Barclays Wealth - Light Energy Commodity Plan

    19 Jun 2009

    Barclays WealthLight Energy Commodity Plan

  • BlackRock in £8bn BGI deal

    18 Jun 2009

    BlackRock is buying Barclays Global Investors for £8.2bn.

  • Bluefin defends move to Axa platform

    18 Jun 2009

    Bluefin Financial Advice has defended its decision to move over to the Axa Elevate wrap by 2010, claiming it is still very much independent.

  • Bluefin offers CII diploma support

    18 Jun 2009

    Bluefin Advisory Services is offering its staff and advisers a CII diploma qualification support package.

  • BoE's King calls for exit strategy for bank aid

    18 Jun 2009

    Bank of England governor Mervyn King has called for the banks and the authorities to work together to plan an exit strategy for state support of the banking system.

  • Bolton claims 80% of HBOS loans had no proof of income

    18 Jun 2009

    Former HBOS mortgage chief Michael Bolton has claimed that up to 80 per cent of mortgages lent by the group before the credit crunch were accep- ted without proof of income.

  • Bramdean Alternatives board is ousted

    19 Jun 2009

  • Bramdean Alternatives terminate Petersfield takeover talks

    17 Jun 2009

  • Bravura directors urge shareholders to vote for recapitalisation

    23 Jun 2009

    The independent directors of Australian technology provider Bravura have urged shareholders to approve all five proposals needed to proceed with its recapitalisation proposal.

  • British unemployment hits 12-year high

    17 Jun 2009

  • Broker banned

    18 Jun 2009

    The FSA has banned South London mortgage broker Guiliano Chianelli of GCM for claiming he earned 70,000 in a self-cert mortgage application when he only earned around 9,000.

  • Build a lifeboat

    18 Jun 2009

    It is not hard to form the conclusion that the FSA is increasingly concerned about the financial strength of elements of the wrap and platform market.

  • Burrows sets up retirement specialist

    18 Jun 2009

    Billy Burrows has launched a new specialist retirement planning firm with former MPL Wealth Management director David Cummins.

  • Cazenove plans absolute UK dynamic launch

    18 Jun 2009

    Cazenove is planning to build on the success of its UK absolute target fund with the launch of an absolute UK dynamic fund.

  • Change on hold for Henderson range

    18 Jun 2009

    Henderson New Star head of equities and multi-manager Bill McQuaker says the firm is unlikely to look at any rationalisation of the multi-manager range until 2010.

  • Channel tuning

    18 Jun 2009

    Advisers were relieved last week to hear that Lloyds Banking Group is to retain most of its intermediary lending brands.

  • Clarity begins at home

    18 Jun 2009

    Discounted gift trusts have been a popular tool for tax planning due to the range of potential benefits they offer.

  • CML slashes 2009 repossession prediction by 10,000

    22 Jun 2009

    The Council of Mortgage Lenders has reduced its UK repossession forecast figures by 10,000 to 65,000.

  • Companies considering corporate wrap prospects

    18 Jun 2009

    The corporate wrap sector looks set to flourish, according to Axa Distribution Services.

  • Darling driving out the entrrpreneurs

    18 Jun 2009

    The Isle of Man government has questioned Budget changes to the UK tax regime, warning they have destabilised the resident non-domiciled population.

  • Darling says restricting bank size is not the answer

    18 Jun 2009

    Chancellor Alistair Darling has said that restricting the size of banks is not necessarily the answer to preventing future economic crises.

  • David Ross joins CII

    19 Jun 2009

    Former Aviva media boss David Ross is to join the Chartered Insurance Institute as its new head of media relations.

  • Davy hails advisers for leading drive to professionalism

    18 Jun 2009

    SimplyBiz chairman Ken Davy has championed advisers as being the key driver for increased professionalism in the industry.

  • DC plan would save £12bn on public DB

    18 Jun 2009

    The Policy Exchange has proposed replacing gold-plated public sector pensions with a defined-contribution scheme.

  • Debt swap lifeline for West Brom

    18 Jun 2009

    West Bromwich Building Society escaped disaster last week after a last-minute debt recovery programme.

  • Deutsche Bank launches ETF basket funds

    23 Jun 2009

    Deutsche Bank has launched three quantitatively managed funds fully invested in a portfolio of exchange traded funds.

  • Downgrade sees N&P put Astra on ice

    18 Jun 2009

    Norwich & Peterborough's Astra Mortgages has become the first victim of the Moody's building societies' downgrade.

  • Dragging heels on Keydata

    22 Jun 2009

    Advisers are concerned that administrator PricewaterhouseCoopers is dragging its heels on the processing of some Keydata income payments due to its tunnel vision on the sale of the business.

  • Enabler platform shuts to new business

    18 Jun 2009

    Capita is to shut its Enabler platform to new business and instead will focus on its existing customer base.

  • Ex-cops sentenced in £6m Ponzi fraud

    19 Jun 2009

  • Ex-Insight duo set up multi-asset firm

    18 Jun 2009

    Former Insight multi-asset co-heads Patrick Armstrong and Dr Ana Cukic Armstrong have launched a new multi-asset business. Armstrong Investment Management, will focus on pensions and wealth management.

  • Fidelity Intl adding fee service

    18 Jun 2009

    Fidelity International is developing a new optional service to be compliant with adviser charging. It will fully launch by the end of 2009 enabling advisers to agree an ongoing fee with clients.

  • Financial adviser jailed for defrauding British expats

    23 Jun 2009

    A financial adviser has been sentenced to six years imprisonment after defrauding expatriates in Indonesia over £491,000.

  • Firms cutting graduates by half

    18 Jun 2009

    Fifty-seven per cent of financial services firms are reducing graduate recruitment by half or more compared with last year, according to research by the Securities & Investment Institute.

  • Focus Solutions launches platform for retail banks

    23 Jun 2009

    Focus Solutions Group has today launched focus:enterprise, a distribution platform designed for retail banks.

  • Fortis looks to short developed markets

    17 Jun 2009

  • FOS forecasts 18% rise in complaints this year

    17 Jun 2009

    The Financial Ombudsman Service is forecasting an 18 per cent increase in new complaints for the financial year 2009/10 to 150,000 from 127,471 last year.

  • Friends Provident calls for employers to re-think pension cuts

    23 Jun 2009

    Friends Provident is urging employers to decrease cuts in pensions and not force employees to search for financial security during retirement.

  • FSA culture "racist", says leaked internal report

    22 Jun 2009

    The FSA has a culture of racism, especially amongst senior staff, according to an internal report leaked to the Observer.

  • FSA getting friendly

    18 Jun 2009

    Here's a question for you - is the FSA gradually groping its way towards a new relationship with the IFAs it regulates?

  • FSA must crack down on mortgage servicers, says IT firm

    22 Jun 2009

    The FSA must crack down on mortgage servicers' outdated computer systems, says mortgage IT provider Phoebus Software.

  • FSA pressed on timetable for Lehman inquiry

    18 Jun 2009

    Structured product action group Spirit has called on the FSA to set out a timeframe for its investigation into Lehman-backed products.

  • FSA probes smaller Sipps

    18 Jun 2009

    The FSA is undertaking a thematic review of around 70 small Sipp providers to identify whether they are meeting its regulatory requirements.

  • FSA refers four firms to enforcement for arrears handling

    22 Jun 2009

    The FSA has revealed that it has referred four firms for enforcement for their mortgage arrears handling processes.

  • FSA should have avoided panic over Keydata

    18 Jun 2009

    Following the administration of Keydata last week, a number of concerns need to be raised regarding the way the news was communicated to advisers and the public.

  • FSA turns down three out of five lenders

    18 Jun 2009

    The FSA has revealed that only two out of five mortgage lenders who have applied for permission over the last 12 months have been successful.

  • FSCP calls for FSA to scrap consumer responsibility

    22 Jun 2009

    The Financial Services Consumer Panel is urging the FSA to abandon its “unrealistic attempts” to articulate consumer responsibilities in financial services.

  • FTSE continues climb

    19 Jun 2009

    The FTSE 100 has climbed almost 2 per cent on Friday, recouping some of the losses made earlier in the week.

  • FTSE drops below 4,300

    17 Jun 2009

    The FTSE 100 fell below 4,300 this morning with UK banks under renewed pressure.

  • FTSE slips

    22 Jun 2009

    The FTSE opened at 4,344 and slipped in morning trades despite strong gains from miners.

  • Gartmore hires John Bennett to manage European retail funds

    18 Jun 2009

    Gartmore has unveiled plans to pass on the management of its flagship £1.5bn European select opportunities fund after announcing the appointment of John Bennett as senior portfolio manager European equities.

  • Gartmore holds defensive fund

    18 Jun 2009

    Gartmore is holding the Ignis Cartesian 130/30 fund across its multi-manager range due to its defensive stance and ability to short using derivatives.

  • Govt funding extended for ISO 22222

    18 Jun 2009

    Government funding for selected financial advisers to obtain ISO 22222 through Standards International has been extended for a further year, following the Government’s Train to Gain initiative.

  • Gravis Capital Partners - GCP Infrastructure Fund

    19 Jun 2009

    Gravis Capital PartnersGCP Infrastructure Fund

  • Gross lending drops 2% in May, says CML

    18 Jun 2009

    Gross mortgage lending was down 2 per cent in May at £10.3bn compared to the previous month and 58 per cent year on year, Council of Mortgage Lenders data reveals.

  • Heavyweights clash on defensives

    23 Jun 2009

  • High Court defers decision on KSFIoM scheme of arrangement costs

    23 Jun 2009

    The Isle of Man High Court today deferred its decision on the issue of the costs incurred by and on behalf of depositors involved with the Manx treasury's rejected scheme of arrangement.

  • HIM Capital appoints James Du Boulay as head of sales

    17 Jun 2009

    HIM Capital has announced the appointment of James Du Boulay as head of sales and marketing.

  • Hire ground

    18 Jun 2009

    When I last wrote this column in January, things were starting to look a bit bleak. While the recession had not yet been confirmed, we all knew that the economy was slowing and we were seeing the effects this was having on the financial services market. Redundancies had started to happen as well as recruitment freezes and aborted job hirings.

  • HML appoints Martin Frazer as director of client relations

    18 Jun 2009

    HML has announced the appointment of Martin Frazer as director of client relations.

  • HML reveals executive restructure

    17 Jun 2009

    HML has restructured its executive team as it merges with Baseline Capital and former Scarborough administration subsidiary SMS.

  • HSBC deal sets precedent for more broker/lender tie-ups

    18 Jun 2009

    PMS managing director John Malone predicts more broker/lender partnerships mirroring the John Charcol/HSBC deal, especially considering the FSA's clamp-down on building societies.

  • Huge fall in US Consumer Price Index

    18 Jun 2009

  • IFAP rejects call for register of adviser firms

    18 Jun 2009

    IFA Promotion has dismissed the Institute of Financial Planning's call for a register of financial planning firms, saying that consumers are more interested in individual adviser credentials than the status of firms.

  • IFAs and Sipp operators arrested and bailed in suspected £2.5m pension fraud

    23 Jun 2009

    Eleven people, including some IFAs and Sipp operators, have been arrested and bailed until September following raids in the North West and Midlands linked to £2.5m suspected tax relief fraud involving bogus pensions schemes.

  • IFP aids advisers with online CFP study tool

    18 Jun 2009

    The Institute of Financial Planning has launched an online study tool to help advisers prepare for their CFP assessment.

  • In with the new

    18 Jun 2009

    With much positive sentiment these days, opportunities are presenting themselves on a number of investment fronts. By no means is everyone yet convinced of the current rally and there is debate over the asset class of choice but adding to the plethora of choice for investors are a number of new funds - and not just straightforward equity funds.

  • Interactive forum for Fofs

    18 Jun 2009

    Money Marketing is bringing together fund of fund managers in an interactive forum. The Fund of Funds Invitational kicks off in Birmingham on June 23, 2009, followed by events in Glasgow on June 25, Manchester, June 30 and London on July 1. www.fund-offunds-invitational.co.uk

  • Investec AM launches hedged share class for American fund

    17 Jun 2009

    Investec Asset Management has launched a hedged share class for its American fund to help remove currency risk for UK-based investors seeking exposure to US equities.

  • Investec launches hedged share class for US fund

    17 Jun 2009

  • Investors up risk exposure

    17 Jun 2009

  • Is FSA a law unto itself?

    18 Jun 2009

    Like many of my industry colleagues, I strongly suspect the reason the FSA has refused to release details of the legal advice it received over the 15-year long stop is that it did not actually take any. It was just an internal decision presided over by the mandarins at Canary Wharf without reference to anyone else.

  • Is the end nigh?

    18 Jun 2009

    Bull market resumption or bear market rally? There are advocates on both sides of the divide. Interestingly, I've counted more in the "Worse to come" camp than the "Get stuck in now before it's too late" brigade. But is there a third way? I believe so.

  • iShares to boost intermediary offering with new hire

    22 Jun 2009

    iShares has appointed Julian Hince as business development officer for the IFA sector.

  • Japanese business sentiment improves

    23 Jun 2009

  • Jewel pricing

    18 Jun 2009

    There has been considerable emotion shown over the last 12 months over the subject of dual-pricing and while some in their naivety suggest it is no longer a concern, it remains one of the biggest threats to advisers' ability to give best advice.

  • Key facts for the FSA

    18 Jun 2009

    Once again, the action of the FSA has come under scrutiny, following the collapse of Keydata.

  • L&G scraps protection top-up commission

    18 Jun 2009

    Legal & General has stopped paying additional commission when an existing protection policy is topped up.

  • LibDems slam RBS chief over £9.6m package

    22 Jun 2009

    Liberal Democrat Shadow Chancellor Vince Cable has criticised Royal Bank of Scotland for agreeing to pay a £9.6m package to its new chief executive Stephen Hester.

  • Lincoln denies Sun Life deal will impair service

    18 Jun 2009

    Lincoln has moved to reassure advisers over concerns that Sun Life Financial's acquisition of the firm's UK operations will see service levels deteriorate.

  • Liontrust looks to rebuild after huge outflows

    18 Jun 2009

    Liontrust chief executive Nigel Legge says the group is now well placed to grow despite massive outflows in its funds under management.

  • Liontrust poach GAM director for global range

    22 Jun 2009

    Liontrust Asset Management has appointed GAM investment director Ross Hollyman as global equity fund manager.

  • Liquidity issues stall UK property fund rebound

    18 Jun 2009

    Advisers have warned that the size of the liquidity problems faced by some UK property funds means it may take longer for them to start performing again.

  • Look past the present

    18 Jun 2009

    Over the last year, there has been little escape from two key issues - the retail distribution review and the impact of the credit crunch.

  • Lords Committee says anti-forestalling measures were wrong

    23 Jun 2009

    The House of Lords Economic Affairs Committee says the Government was wrong to introduce anti-forestalling measures to limit pension contributions in the Budget.

  • Lords criticise ideas for Euro reform

    18 Jun 2009

    The House of Lords EU Committee warned the UK government may have insufficiently set out its ideas to the EU on the reform of supervisory bodies and says it is "behind the ball game" on some EU proposals.

  • Lords report says Govt failed in EU regulation debate

    17 Jun 2009

  • M&G looks to frontier markets

    18 Jun 2009

    M&G's cautious multi-asset offering is investing a small part of its portfolio in a Guernsey-based fund which focuses on minor emerging markets.

  • M&G's Willcocks questions worth of absolute return

    18 Jun 2009

    M&G managing director global sales Jonathan Willcocks has questioned the demand for absolute return funds.

  • Made to order

    18 Jun 2009

    As a family lawyer, all the talk these days is about pension sharing. Are there any circumstances where an attachment order might be more appropriate?

  • Make a difference

    18 Jun 2009

    When I look back at my career, it can be viewed as opportunistic and full of learning.

  • Manager focus: Alan Nesbit

    23 Jun 2009

  • Manager focus: Tom Winnifrith

    18 Jun 2009

  • Manx dismay at rejection of Kaupthing S&F offer

    18 Jun 2009

    Isle of Man finance director John Spellman is disappointed that the IoM treasury's prop- osed scheme of arrangement was rejected by Kaupthing Singer & Friedlander Isle of Man depositors.

  • May net lending down to 2001 figures, says BBA

    23 Jun 2009

    Net UK mortgage lending in May of £2.3bn was the weakest monthly rise since early 2001, according to the British Bankers Association.

  • MBE for Le Beau

    18 Jun 2009

    Le Beau Visage managing director Peter Le Beau has been awarded an MBE in the Queen's birthday honours list for service to charity and the insurance industry.

  • Money Portal MBO complete - holding company and Bates in administration

    22 Jun 2009

    Honister Capital has today acquired the principal advisory and direct businesses of The Money Portal Limited including Burns-Anderson, Sage Financial Services, Willis Owen and the principal assets of Bates Investment Services.

  • Moody's downgrades Lloyds financial strength rating

    23 Jun 2009

    Moody's has downgraded the Bank Financial Strength Rating of Lloyds TSB and placed the bank on a negative outlook.

  • Morgan Stanley launches four structured products

    23 Jun 2009

    Morgan Stanley has expanded its structured product range with the launch of four structured products.

  • Mortgage brokers to train as IFAs

    18 Jun 2009

    Jonathan Cornell, newly appointed head of communications for First Action Finance, is looking to train mortgage brokers as IFAs as part of the firm's plans to buy IFA client banks.

  • MPs to investigate mortgage problems

    17 Jun 2009

    The Treasury Select Committee has called on the mortgage industry to give evidence for an upcoming enquiry into the problems facing the UK mortgage market.

  • Myners' long-stop stance slammed

    18 Jun 2009

    Pump Court barrister Peter Hamilton has hit out at City minister Lord Myners, claiming his response to the joint committee on human rights over the long stop lacks justification.

  • NAPF presses for rethink on auto-enrolment

    18 Jun 2009

    The National Association of Pension Funds has criticised proposed rules for auto-enrolment as "inflexible, bureaucratic and costly" and is calling for radical changes.

  • NDFA - Fixed Growth Deposit Plan June 09

    19 Jun 2009

    NDFAFixed Growth Deposit Plan June 09

  • Negative charge

    18 Jun 2009

  • New landscape for asset management industry

    17 Jun 2009

  • Nucleus' Philip Martin steps down

    17 Jun 2009

    Nucleus business development director Philip Martin is stepping down from his role having worked for the platform since it launched three years ago.

  • Nucleus seeks to raise more than £3m in rights issue

    23 Jun 2009

    Wrap provider Nucleus is seeking to raise over £3m in a rights issue to pay back some of the company’s debt to South African insurer Sanlam.

  • Obama to give more regulatory powers to Fed and Treasury

    18 Jun 2009

    US president Barack Obama yesterday unveiled plans to give the Federal Reserve the power to oversee banks and other large companies whose failure could threaten the financial system.

  • OECD says government reforms needed for sustainable retirement income

    23 Jun 2009

    A new OECD report states that reforms by governments are needed in order to provide socially and financially sustainable public and private retirement income provisions.

  • On the level

    18 Jun 2009

    The FSA's latest update on the retail distribution review is due later this month but few people are anticipating a dramatic change from what has already been set out by the regulator.

  • Online opportunity

    18 Jun 2009

    It was interesting to read a news story not too long ago in which a study found that around 15 per cent of financial advisers are continuing to shun technology by running paper-only practices. More than 120 of the 800 intermediaries surveyed by 1st-The Exchange admitted to "just using paper" to store and manage client data, to which the software provider says the results may be indicative of the sector as a whole.

  • OPM ups financial bond exposure

    18 Jun 2009

    OPM Fund Management's multi-manager team has increased its fixed-interest fund's exposure to financial bonds because bank debt looks attractive.

  • Organise your data

    18 Jun 2009

    Regarding the article, FSA fines up 514 per cent, which reports on the FSA's get tough stance, it is worth remembering the advice marketplace is constantly changing.

  • Pada has the power

    18 Jun 2009

    Does the Personal Accounts Delivery Authority realise it wields the power to revolutionise the decumulation market in the UK as well as the pension savings world?

  • Pada plan for auto Omo

    18 Jun 2009

    Personal Accounts Delivery Authority chief executive Tim Jones has revealed Pada is considering making open market the default option for the decumulation of personal accounts.

  • Passing the buck?

    17 Jun 2009

    The Adam Smith Institute has slammed the FSA’s response to the financial crisis, saying its failure to recognise the extent of its own failings compromises its ability to improve regulation.

  • Payback time for life offices

    18 Jun 2009

    During the last few years, there has been a gradual dawning that the life insurance industry's business model is broke in more ways than one.

  • People on the move: Investment

    18 Jun 2009

    F&C has appointed former Henderson chief executive Roger Yates as an independent non-executive director. Yates takes on the role alongside former chairman and senior partner of Pricewaterhouse- Coopers Kieran Poynter with immediate effect. He recently retired as chief executive of Henderson Group, a post he had held since 1999.

  • PFS wants MoneyPlan volunteers

    18 Jun 2009

    The Personal Finance Society is calling for its members to volunteer for the Citizens Advice Bureau's MoneyPlan initiative, which provides free generic financial advice to consumers.

  • Phoenix in row over renewal cash

    18 Jun 2009

    An adviser has hit out at Pearl owned-Phoenix, claiming the firm has stopped paying renewal commission on a client's Scottish Mutual policy and tried to deal with them direct.

  • PIMS 2009: Cann takes aim at “rubbish” degrees

    19 Jun 2009

    The Institute of Financial Planning has hit out at the structure of current financial services degrees suggesting many do not offer students what they need to fulfil future financial planning roles.

  • PIMS 2009: Grant Thornton warns on FSA pension transfer stance

    19 Jun 2009

    Grant Thornton has warned the FSA is taking a tougher line on pension transfer business, with firms having to prove their advice was “positively suitable”, rather than just not unsuitable.

  • Platforms are urged to launch lifeboat service

    18 Jun 2009

    Finance and Technology Research Centre director Ian McKenna is calling on the platform industry to create a "lifeboat service" to help with an orderly wind-down if a platform fails.

  • Plimsoll rates 62% of IFAs as financially strong

    22 Jun 2009

    A new study by analysts Plimsoll Publishing has awarded 621 of the UK’s biggest 1000 IFA companies a strong financial rating for outstanding financial performance.

  • Positive reaction for Vanguard funds

    23 Jun 2009

  • Profit from loss

    18 Jun 2009

    Last week, I looked at the provisions determining how trading losses incurred by UK companies could be used to bring tax relief to the companies incurring them.

  • Property finds a footing

    18 Jun 2009

    Outflows, liquidity and lock-ins have been the three buzzwords that have summed up the troubled property sector over the past two years.

  • Push is on to bring in hedge funds and private equity firms

    18 Jun 2009

    The Isle of Man is moving into the alternative investment sector to attract fund business.

  • Quarter of mortgage applications declined

    19 Jun 2009

    Lenders are currently turning down almost one in four mortgage applications, according to data from the Bank of England.

  • RAM Capital Partners/BMS Finance

    19 Jun 2009

    RAM Capital Partners/BMS FinanceSunstone Outsourcing

  • Real active management from Acuity

    19 Jun 2009

    Smaller companies specialist Acuity Capital is marketing its CF Acuity real active management fund to IFAs now the fund has built up a track record since it was soft launched last September.

  • Regulator had fears over risk posed by Keydata phone sales

    18 Jun 2009

    The FSA had concerns that Keydata's sales contact with IFAs was "at arm's length" on complex products prior to its insolvency, Money Marketing understands.

  • Rescue details

    18 Jun 2009

    The new regulations allow mutual investors to convert tier-2 subordinated debt into "profit-participating deferred shares", which will award them with 25 per cent of all future profits. The FSA has deemed these PPDS shares as core tier-1 capital.

  • Resolution targets firms worth up to £7bn

    17 Jun 2009

    Clive Cowdery's Resolution is targeting an initial acquisition worth up to £7bn, according to reports.

  • Run rally run

    18 Jun 2009

    When markets behave erratically, it is easy to cling to familiar territory but managing money is about taking a long-term view - of the future, not the past.

  • Schroders - ISF Global Managed Currency Fund

    19 Jun 2009

    SchrodersISF Global Managed Currency Fund

  • Sesame survey shows 97% of clients are happy with their IFAs

    18 Jun 2009

    Ninety-seven per cent of clients are happy with their IFA and would recommend them to family and friends, according to Sesame research.

  • Settlor's rights

    18 Jun 2009

    Loan trusts are an excellent tool for lump sum inheritance tax planning for clients who need ongoing access to their initial investment.

  • Simply Biz Mortgages charges 1% turnover for life

    23 Jun 2009

    Simply Biz Mortgages has reduced its fees to 1 per cent turnover for mortgage brokers for life.

  • Sir Fred offers to cut pension by £200k

    18 Jun 2009

    Former Royal Bank of Scotland chief executive Sir Fred Goodwin has offered to reduce his controversial pension by £200,000 a year, according to the BBC.

  • Sir Keith Mills launches legal action against Coutts

    22 Jun 2009

    Sir Keith Mills has initiated legal action against Coutts & Co over advice that saw him invest £65m of his savings in AIG Life premier bonds.

  • Societies could opt for debt swap to boost cash

    18 Jun 2009

    A number of building societies have not ruled out following West Bromwich in using new FSA regulations to improve their capital adequacy.

  • Somerville to run new Jupiter Japan select fund

    18 Jun 2009

    Jupiter is setting up a Japan select Sicav next month to be managed by Simon Somerville.

  • Standard Life appoints Sheelagh Whittaker to board

    23 Jun 2009

  • Switching syndrome

    18 Jun 2009

    I was very interested in Paul Beard's problems in doing a switch within the Pru and then it taking a long time.

  • Take a long look

    18 Jun 2009

    As both the Government and the FSA trundle the winding paths towards their very own elephant graveyards, one has to wonder at the bare-faced cheek of an organisation which seeks to defend the indefensible and continues to prop up the rotting struts supporting the disintegrating edifice.

  • Tax on big banks best way forward, says Turner

    23 Jun 2009

    FSA chairman Lord Turner says that taxing the biggest banks by imposing higher capital requirements on them could be the best way to limit their size.

  • The horns of a dilemma

    18 Jun 2009

    What does the collapse of Keydata mean for investor confidence in structured products?Hall: I am not sure that retail investors will pick up on this unless they are already invested in Keydata products or products where Keydata acted as the administrator.

  • The Lion's share

    18 Jun 2009

    Stockmarkets have rallied strongly since the beginning of March. This is certainly a welcome change after a dire year in 2008 but I would not be surprised if markets paused for breath at this stage. Whether or not this rally can be sustained is the big question in investment at the moment.

  • The moment of truth

    18 Jun 2009

    I have never heard anyone argue with the often stated truth that arranging a a proper protection package must surely come first in anyone's affairs.

  • The professionals

    18 Jun 2009

    It is just like old times, 500 words, little inspiration and a fast-approaching deadline. It is more difficult for a retread like me. Can't use the word "polarisation" or I'll lose half the younger audience.

  • Threshold of change

    18 Jun 2009

    It seems like tax is back on the political agenda, with the Government and the Conservatives spending much of last week trying to score points off each over their respective public spending plans.

  • Tighter regulations for financial sector in US

    23 Jun 2009

  • Tim Jones

    18 Jun 2009

  • Tories warn means test may spark new scandal

    18 Jun 2009

    Conservative Shadow Chancellor George Osborne has voiced "grave concerns" about personal accounts, claiming that the means-testing issue could see the scheme becoming the "next scandal" if left unresolved.

  • Towergate FS was forced into administration

    17 Jun 2009

    Towergate Financial Services was forced into administration last Thursday with Grant Thornton appointed to wind up the company.

  • Towergate scales back on IFA buys

    18 Jun 2009

    Towergate Financial Services has scaled back its plans to rapidly build a national network of IFAs and has been folded into a division of Towergate Partnership Limited.

  • Treasury defends action over failure of Icelandic banks

    19 Jun 2009

    HM Treasury has defended its response to the collapse of the Icelandic banking system last year saying it was right to take urgent action to protect financial stability in the UK.

  • Treasury's Ussher resigns over alleged CGT dodge

    18 Jun 2009

    Treasury Minister Kitty Ussher resigned last night after it emerged that she may have avoided paying capital gains tax by flipping her designated primary residence.

  • Trivial pursuits

    18 Jun 2009

    Those seeking financial advice as they approach retirement will generally have a substantial pension provision built up and the challenge is to find the best way of using it to provide an income. However, advisers will occasionally come across clients with very little invested in a pension, perhaps because their assets have come largely from an inheritance or they have been a non-working spouse for many years.

  • Troy's thoroughbred

    18 Jun 2009

    Few fund houses can claim to be named after a horse but Troy Asset Management's inspiration boasts a victory in the 1979 Epsom Derby.

  • Turner warns on dangers over lack of radicalism

    23 Jun 2009

    FSA chairman Lord Turner has warned MPs he is worried the FSA, Government and international regulators could fail to be radical enough in overhauling the financial regulatory and supervisory system.

  • Unremitting choice for non-doms

    18 Jun 2009

    The new non-domicile tax regime is almost a year old now and it is approaching decision time for many UK- resident but non-domiciled individuals as to whether they should elect to pay the remittance charge of £30,000 or to pay tax like other UK taxpayers.

  • US Treasury stresses importance of offshore data sharing

    19 Jun 2009

    The US Treasury has written to Jersey's chief minister saying it is important to share tax information on tax avoidance and offshore accounts.

  • Vanguard reveals fund line-up

    17 Jun 2009

  • Vanguard set to launch index-trackers

    17 Jun 2009

    Vanguard Investments UK has announced plans to launch eleven index-tracking funds later this month.

  • Vote of confidence

    18 Jun 2009

    While it is too early to say whether or not the markets are on their way up in the long term, there is some good news for the fund industry.

  • Walker Crips Structured Investments - Three Year Annual Growth Plan

    19 Jun 2009

    Walker Crips Structured InvestmentsThree Year Annual Growth Plan

  • Website Comments

    18 Jun 2009

    Windsor Life and seven days - seven months more like. If Standard Life can do everything via one telephone call (that is for an internal annuity) and no forms, why can't everybody else? If it is that easy for an internal process it cannot be that much more difficult for an external transfer.

  • WHEB launches new sustainability fund

    22 Jun 2009

    WHEB Asset Management has launched a sustainability fund focusing on the three megatrends of water, climate change and demographics.

  • Work-based adviser testing not an easy option, says IFP

    23 Jun 2009

    Alternative work-based assessments for advisers are not going to be an easy option and will involve comprehensive testing of QCF level four knowledge and skills, according to the Institute of Financial Planning.

  • Zurich offers review help

    18 Jun 2009

    Zurich has set up a pension help-point to assist advisers changing their clients' plans.

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