Money Marketing
18 July 2007

  • General Electric quits US sub-prime

    19 Jul 2007

    General Electric has left the US sub-prime mortgage market, selling subsidiary WMC Mortgage Securities. Staff numbers have fallen from 1,200 to 700 this year. US mortgage lender Alliance Bancorp has gone bankrupt after the sub-prime downturn.

  • Pension victims wait for vote

    19 Jul 2007

    Parliament is due to vote on whether members of occupational schemes who lost part or all of their pensions before the Pension Protection Fund came into effect and fell into the Financial Assistance Scheme, will get comparable payouts. The expected close vote will determine whether pension victims will see payouts rise from 80 per cent of lost benefits to the 90 per cent paid by the PPF.

  • “Cruel” Government called on to do more

    19 Jul 2007

    The government had a huge opportunity to redeem its pensions credibility in the eyes of the public this week by accepting the cross-party amendment to provide quicker help to victims of occupational scheme collapses.

  • 45-year wait for pension equality

    24 Jul 2007

    It will take women in the UK 45 years to achieve equality in retirement income, according to a report by the Equal Opportunities Commission.

  • A lesson in education

    19 Jul 2007

    Iam sure I was not the only IFA seething as Ed Balls was unveiled in his new Cabinet role. Balls has hardly disguised his contempt for IFAs, noting that he was surprised that so many had survived.

  • A shaw thing

    19 Jul 2007

    Sam Shaw is a reporter on Money Marketing

  • A team of...

    19 Jul 2007

    A team of Bupa UK Health Insurance management trainees spent five days in the Vihaan project in Jaipur, India, to help improve education and business opportunities in the area. This is the most ambitious project ever taken on by the management training programme and is the first overseas voluntary project initiated by Bupa.

  • ABI offset ban would kill off independents

    19 Jul 2007

    The Association of British Insurers wants to ban commission offset for IFAs which would mean less than 2 per cent of advisers would be able to call themselves independent and kill off consumer access to independent advice, according to industry experts.

  • ABI opposes proposals on non-contestability

    19 Jul 2007

    Law Commission proposals for a five-year non-contestability period on life insurance have been slammed by the Association of British Insurers.

  • Accord moving into right to buy sector

    19 Jul 2007

    Accord is set to enter the right-to-buy market in September after getting authorisation to operate in England, Northern Ireland and Scotland.

  • Active bids to speed overseas loan decision

    19 Jul 2007

    Active Lending Solutions has linked up with Banco Halifax Hispania to offer online agreements in principle in a bid to speed up overseas lending for brokers.

  • Advantage to open Glasgow office

    23 Jul 2007

    Advantage will open an office in Glasgow to serve brokers and packagers in Scotland and Northern Ireland.

  • Advice is not influenced by commission

    19 Jul 2007

    Regarding Julian Stevens' views on remuneration (July 5), how long before the industry realises that remuneration cannot be just a matter of either fees or commission?

  • Adviser Fund Index

    19 Jul 2007

    The defection of three members of Fidelity's multi-manager team to Resolution Asset Management brought the subject of boutiques back to the front pages last week. Chris Ralph, Jason Collins and Simon Mungall will set up a multi-manager joint-venture towards the end of this year. The boutique will follow RAM's established model, with ownership split 50/50 with the three men.

  • Adviser online network IFA Life Mortgages launches

    20 Jul 2007

    Online networking forum IFA Life is launching a version for the mortgage market branded IFA Life Mortgages. The move is in response to demand from mortgage professionals for a dedicated forum to provide online networking, business resources and debate on a range of industry issues appropriate to their needs.

  • Advisers hit as trail cash is slashed

    19 Jul 2007

    Amendments to trail commission on a number of fixed interest, property, tracker and money funds have also been attacked for being included in the small print of the proposals for the combined Skandia/ Selestia platform. Renewal commission on fixed interest and property funds has been cut from 0.5 per cent to 0.35 per cent while commission on tracker funds has been halved to 0.25 per cent and cut to zero on money market funds.

  • Aegon introduces reducing life cover for businesses

    24 Jul 2007

    Aegon Scottish Equitable is introducing two new benefits to its business protection offerings.

  • Aifa wants retro action for long stop

    19 Jul 2007

    Aifa is lobbying the FSA to bring in the 15-year long stop retrospectively as part of the retail distribution review.

  • America takes a break

    19 Jul 2007

    Wall Street still has juicy prospects but be careful when you bite in.

  • An adviser's angst rap (with apologies to Eminem)

    19 Jul 2007

    "Dear Slim, I wrote but you still ain't callin'. I sent two letters back in autumn, you must not-a got 'em.

  • Ashley Law wins case but faces legal bill

    19 Jul 2007

    Ashley Law has won a long-standing legal battle against an ex-member.

  • AXA IM adds to UK fixed income team

    19 Jul 2007

    AXA Investment Managers (AXA IM) has bolstered its UK fixed income team with the appointments of Mark Benstead and Philip Chow as portfolio managers.

  • Axa Isle of Man launches regular investment account

    23 Jul 2007

    Axa Isle of Man has launched a Regular Investment Account to complement its offshore proposition.

  • Bank of Ireland launches offshore bond

    24 Jul 2007

    Bank of Ireland Offshore has launched a global growth bond in conjunction with Bristol & West International.

  • Bankhall schedules 'wrap of wraps' for September

    19 Jul 2007

    Bankhall will launch its long-awaited wrap in the second half of the year with a phased rollout due to start in September.

  • Banks risk breaching confidentiality laws through HMRC offshore crackdown

    18 Jul 2007

    A leading law firm is warning banks may risk breaching confidentiality laws in offshore jurisdictions if the HMRC forces them to supply customer information as part of its investigation into offshore tax evasion.

  • Barclays strengthens bid for ABN Amro

    24 Jul 2007

    Barclays has entered into a £9bn deal with China Development Bank and the Singapore government to boost its bid for the takeover of Dutch group ABN Amro.

  • BDO launch driven by foreign interest in central London property

    19 Jul 2007

    BDO Stoy Hayward Investment Management is starting a fund focusing on highend residential property in central London.

  • BestInvest bought by private equity firm

    23 Jul 2007

    BestInvest has been purchased by global private equity and venture capital firm 3i.

  • BoE deputy governor says lessons to be learned from US sub-prime market

    24 Jul 2007

    Bank of England deputy governor for financial stability John Gieve has said that developments in the US sub-prime market had pointed out vulnerabilities in new credit derivative markets and the difficulty of valuing instruments on the basis of only a few years experience.

  • Bonds have more funds

    19 Jul 2007

    Paul Wright, investment management director at Zurich, sets out the taxation arguments when comparing bonds with Oeics and unit trusts.

  • Bristol and West to scrap exit fees from July 31

    18 Jul 2007

    Bristol and West has confirmed it will also be scrapping exit fees for future customers from July 31.

  • Broker Talkback

    19 Jul 2007

    Will the appointment of Hector Sants as chief executive of the FSA make a difference to the regulator's retail policy?

  • Buy-to-let return reaches 13%

    19 Jul 2007

    BM Solution's first buy-to-let biannual review shows that the average total return for a BTL investor was 13 per cent over the past year to June, up from 11.9 per cent in the previous year.

  • C&G puts pressure on exit fees

    19 Jul 2007

    Leading lenders are sticking to charging exit fees despite Cheltenham & Gloucester's decision to scrap its charges on new lending.

  • Canada Life rings the changes

    19 Jul 2007

    Canada Life has revamped its annuity growth account to take advantage of the post-A Day changes.

  • Capital issues

    19 Jul 2007

    Paul McMillan reports on the industry reaction to the regulator's proposals for capital adequacy and professional indemnity insurance.

  • Clerical targets 50-74-year-olds with drawdown

    19 Jul 2007

    Clerical Medical is offering an income drawdown plan for customers aged 50 to 74.

  • Commercial break

    19 Jul 2007

    Chris Salih reports on the aftermath of the furore caused by commercial property funds reacting to big outflows by bringing in redemption charges.

  • Commercial crackdown?

    18 Jul 2007

    There seems to be a looming question mark over the entire UK property market at the moment after several high-profile firms decided to move their vehicles from an offer to a bid basis in reaction to investors deciding it is time to get out.

  • Concordia sees 40% increase in mortgage business

    19 Jul 2007

    Broker alliance Concordia processed £5.4bn mortgage business in the first half of 2007, up by 40 per cent on last year's figure.

  • Cowman makes call for standard forms

    19 Jul 2007

    Just Retirement protection manager Paul Cowman believes life offices should standardise their application forms to make it easier for advisers and clients to avoid non-disclosure.

  • CSAM to consolidate multi-manager range

    24 Jul 2007

    Credit Suisse is to revamp its multi-manager range with new managers Graham Duce and Aidan Kearney doing away with the group’s regional fund strategy.

  • D&B scores own goal with glitch

    19 Jul 2007

    Credit-rating agency Dun & Bradstreet has written to over 300 companies to apologise after a system glitch downgraded the firms' credit risk ratings.

  • Darling in for the long haul

    19 Jul 2007

    The loan market has been scathing about Chancellor Alistair Darling's proposals to boost the supply of long-term fixes, reports Tanya Powley After just two weeks in his new role as Chancellor, Alistair Darling has got the mortgage industry up in arms with his announcement that the Government will boost the supply of long-term fixed-rate products amid concerns that lenders are only offering short-term fixes so they can rake in high arrangement fees.

  • Disclosing the best deal

    19 Jul 2007

    Kira Nickerson asks that if an investment bond on Cofunds is compared with the price via Funds Network, Skandia, Nucleus, Ascentric or Standard Life, is it really possible to say which offers the best deal?

  • Don't make a date with debt

    19 Jul 2007

    The average single person spends 88 a month - over 1,000 a year - on trying to find their perfect partner, according to research by MoneyExpert.com.

  • Eagle warns on promotions

    19 Jul 2007

    Labour MP Angela Eagle began her new role as Exchequer secretary by attacking the standards of financial promotions.Responding to concerns by Labour backbencher Sarah McCarthy over celebrity endorsements of financial products, Eagle said: "It is important the industry adheres more effectively to the voluntary codes . If there is no sign of improvement, we will certainly look at what more the Government can do through regulation."

  • Editor's column

    24 Jul 2007

    Welcome dear reader to the Editor’s column - Money Marketing’s first foray into the online commenting world.

  • Endowment claims still make up 88% of FSCS workload

    19 Jul 2007

    The Financial Services Compensation Scheme paid out £149.47m in 2006/07 compared with £201.22m the previous year.

  • Enterprise Partners adds Db Mortgages to panel

    24 Jul 2007

    Enterprise Partners has added Db Mortgages to its lender panel.

  • Exit routes

    19 Jul 2007

    It is no secret that I have been a bear on comm-ercial property for the last few years. It could be argued that I was completely wrong. Commercial property has continued to make good returns over the last three or four years although I might point out that so have the equity markets.

  • Exit strategy

    20 Jul 2007

    The July 31 deadline for lenders to report back to the FSA on exit fees is looming and last week saw Cheltenham and Gloucester become the first lender to announce to the world it will be scrapping its charges for all future customers.

  • Family fortunes

    19 Jul 2007

    Retirement income is an issue that crosses the generations.

  • Fears voiced over scheme return e-filing

    19 Jul 2007

    A survey reveals that over eight out of 10 pension trustee administrators are concerned about their readiness for the onset of online scheme returns.

  • Ferguson to be first woman to chair AIC

    19 Jul 2007

    Carol Ferguson is to become the first woman to chair the Association of Investment Companies, replacing Hamish Buchan, who steps down on December 11. She has been deputy chairman since 2004.

  • Fidelity forums to feature Bolton, Shah and Korhonen

    24 Jul 2007

    Fidelity International has announced details of its annual Investment Forum for advisers, to be held at seven venues across the UK in October.

  • Fidelity looks to EMEA

    19 Jul 2007

    Fidelity International has introduced a Luxemburg-based fund investing in emerging Europe, the Middle East and Africa.

  • Fidelity research shows European multi-manager growth

    23 Jul 2007

    Almost 90 per cent of distributors in Europe have clients invested in multi-manager products at an average of 32 per cent of their client base, according to Fidelity International.

  • Fidelity taps into emerging EMEA

    19 Jul 2007

    Fidelity is introducing an emerging Europe, Middle East and Africa fund to be managed by Nick Price.

  • Financial services bodies join forces to resist more EU regulation

    18 Jul 2007

    UK financial services bodies are calling on the European Commission to establish a genuine single market that eliminates unnecessary barriers to doing business across the EU.

  • Focus wins HSBC contract extension worth £322,000

    24 Jul 2007

    Focus Solutions Group is announcing a contract extension with HSBC Bank.

  • Friends takes lead on non-disclosure with CI payout deal

    19 Jul 2007

    Friends Provident has been praised for paying out on critical-illness claims which would otherwise be declined due to unrelated non-disclosure.

  • FS marketing specialist Egg Group in administration

    24 Jul 2007

    Egg Group, holding company of financial services specialist marketing agency Egg Design & Marketing, has gone into administration.

  • FSA bans mortgage broker for submitting false mortgage application

    23 Jul 2007

    The FSA has banned a mortgage broker for submitting a false mortgage application to a lender.

  • FSA confirms new suitability requirements

    23 Jul 2007

    The FSA has published its guidelines for a simplified, less prescriptive version of the suitability letter as part of its final disclosure measures for the new conduct of business sourcebook.

  • FSA criticises inadequate product information

    19 Jul 2007

    The FSA says providers and lenders are not offering enough product information to distributors and are providing inadequately trained service staff to handle adviser queries.

  • FSA is a flaw unto itself

    19 Jul 2007

    It is the view of this newspaper that the two FSA papers on the retail distribution review and prudential rules for advisers are deeply flawed.

  • FSA reinforces warning of economic downturn

    20 Jul 2007

    New FSA chief executive Hector Sants has reinforced the FSA’s view that the UK could be set for an economic downturn and concern that some in the industry may not be ready.

  • FSA says advisers haven't thought through RDR

    19 Jul 2007

    The FSA has questioned whether the majority of respondents to the retail distribution review calling for independent to mean whole of market have thought "deeply enough" about the issue.

  • Future Mortgages to accept AVMs

    23 Jul 2007

    Future Mortgages will accept Automated Valuation Models through Hometrack for all mortgage and secured loan applications with a loan to value of up to 75 per cent.

  • Generation Ostrich stuck in saving sand

    19 Jul 2007

    Survey shows 'optimists in their 20s and 30s are heading towards retirement poverty'.

  • Getting personal

    19 Jul 2007

    The DWP's feedback statement puts more flesh on the bones of personal accounts.

  • Golden nuggets

    19 Jul 2007

    Let me put you straight on one thing. Last week's comments were assembled a week before publication and were not a knee-jerk reaction to the sell-off in markets in the middle of last week stimulated by the downgrading of sub-prime debt by the rating agencies. In face, the sell-off did not appear too damaging. One difficult day and a tail of unsettled drifting was all it amounted to.

  • Government promises £8bn investment for affordable housing in green paper

    23 Jul 2007

    The Government has published its green paper on housing today with news that families and first-time buyers will benefit from investment of £8bn for affordable housing.

  • Government set to defend itself in pensions judicial review appeal

    24 Jul 2007

    The Government will face the Court of Appeal tomorrow in an attempt to defend its decision to ignore the Parliamentary Ombudsman over the 125,000 who lost out when their occupational schemes collapsed.

  • Government’s extra pension help “cruel” and full of spin

    18 Jul 2007

    Pensions consultant Ros Altmann has branded the Government’s extra support for occupational scheme collapse victims “the cruellest possible way” to help people.

  • Gross mortgage lending hits high in June

    19 Jul 2007

    Gross mortgage lending increased to £34.2bn in June, up 9 per cent from May, but was still a lower monthly increase than in each of the last two years, shows the latest statistics from the Council of Mortgage Lenders.

  • Hargreaves hits out over 'reckless' fund sales

    19 Jul 2007

    Hargreaves Lansdown chief executive Peter Hargreaves says repricing property funds is like market value reductions on with-profits funds, with the loudest complaints coming from IFAs who "recklessly" piled clients into them.

  • Hay is adding Framlington and Finsbury fund choice

    19 Jul 2007

    James Hay has added a further 10 third-party funds to its wrap platform. bringing the total available to nearly 1,200.

  • HMRC plan may ease IHT reporting burden

    19 Jul 2007

    HM Revenue & Customs is planning to raise the threshold for reporting chargeable lifetime transfers which it is predicted could reduce advisers' IHT compliance burden by 75 per cent.

  • House of Lords votes to scrap Hips

    19 Jul 2007

    The House of Lords has made another stand against the implementation of Home Information Packs, with 186 votes against 160 in favour of scrapping the scheme.

  • Housing in a fix

    19 Jul 2007

    For mortgages to make it on to the front page, things must be bad - Young homebuyers in crisis, Mortgage madness, Mortgage misery and Mortgage meltdown.

  • HSBC links offshore OpenFunds range with Zurich International

    24 Jul 2007

    HSBC has announced its open global distribution and open global return funds have linked to Zurich International Life’s International Wealth Account.

  • IFAs raise concerns on 1st Software forum

    19 Jul 2007

    Disgruntled IFAs are using 1st Software's online forum to make complaints over its software and service.

  • IFAs to retire at 62, says MetLife

    19 Jul 2007

    The average IFA will retire at 62 but just 13 per cent will rely on conventional annuity income to live on, says MetLife.

  • In with new chief, out with the NU??

    19 Jul 2007

    Aviva's new chief executive Andrew Moss looks set to ring in the changes, with both the Norwich Union and Morley brands under review.Moss is keen for Aviva to become the eminent brand, as first revealed by Money Marketing in April.However, advisers have backed the NU brand, saying it carries more weight in the market.

  • Insurers agree to change online PPI sales

    19 Jul 2007

    The FSA says product providers have agreed to change the way they sell payment protection insurance over the internet after it took action against them.

  • Investec announces three offshore appointments

    23 Jul 2007

    Investec Asset Management has announced three new appointments to its Americas offshore mutual funds sales team.

  • Investec Private Bank in push for top-end loans

    19 Jul 2007

    Investec Private Bank is making a concerted push into the high-net-worth mortgage market but says it is not aiming to be a big-volume player.

  • It's time for the true IFAs to stand up

    19 Jul 2007

    Now the dust has begun to settle on the retail distribution review paper, it is the time for cool heads to put vested interests to one side and consider where this industry sits in broader society.

  • Jim Grant and Craig Wetton

    19 Jul 2007

    The merger of Cavendish Grant and Chartwell two years ago made business sense for both companies. It provided a fresh impetus for the newly merged company, which retained the Chartwell name, and helped it to almost double turnover. The latest addition to its line-up is an online dealing facility offering more than 900 funds. Interview by Will Henley.

  • Just Retirement launches annuity campaign

    24 Jul 2007

    Just Retirement has launched a campaign for better annuities and is urging IFAs to join the cause. The provider says the initiative is aimed at raising awareness of key aspects of the annuity market and ensuring advisers are well equipped to give annuitants the best available deal. The campaign will include political lobbying and working with the FSA and ABI. It will include a “back to basics” educational campaign for advisers designed to improve knowledge in areas ...

  • Kane becomes ABI chairman

    19 Jul 2007

    Scottish Widows chief executive Archie Kane has been unveiled as the new chairman of the ABI.

  • Kensington reveals profits dip ahead of £283m buyout vote

    19 Jul 2007

    Kensington saw a fall in profits and a £10m write-down of its investment in specialist lender Money Partners in the first half of this year.

  • Kensington shareholders vote in favour of Investec deal

    18 Jul 2007

    Kensington Group shareholders have voted in favour of the offer made by South-African firm Investec at its EGM today.

  • L&G gives HNW advisers direct access to senior underwriters

    18 Jul 2007

    Legal & General is offering advisers direct access to senior underwriters for their high net worth clients.

  • Leading questions

    19 Jul 2007

    Money Marketing editor John Lappin says the FSA is trying to manipulate advisers with its attempts to portray the RDR and prudential rules discussion papers as being industry-led.

  • Leave us to best serve our clients

    19 Jul 2007

    The FSA is trying everything possible to stop IFAs from trading. Its latest wheeze is to stop all commission.

  • LibDems planning 500k IHT nil rate

    19 Jul 2007

    The LibDems have unveiled radical plans to cut the basic rate of income tax to 16p and almost double the inheritance tax threshold to 500,000.

  • Life cover 30 per cent cheaper than 10 years ago says Standard Life

    23 Jul 2007

    Life insurance is on average 30 per cent cheaper than 10 years ago according to Standard Life.

  • Life cover lost in the paper chase

    19 Jul 2007

    So-called simple online applications for life insurance can generate as much as 29 metres of paperwork.

  • 'Life offices misleading with advertised rates'

    19 Jul 2007

    Torquil Clark director Jason King claims that life companies are not treating customers fairly by having standard rates that almost half of applicants cannot qualify for.

  • Life systems

    19 Jul 2007

    Now we have all had a couple of weeks to consider the content of the FSA discussion paper on the retail distribution review it must be time to think about what sort of systems might be needed to support the changes under discussion.

  • 'LTC cover is the product of the future'

    19 Jul 2007

    Dr Marius Barnard has called on the protection industry to "resurge" long-term care insurance, claiming "it is the product of the future".

  • Lyxor Asset Management - Lyxor ETF Commodities CRB

    19 Jul 2007

    Lyxor Asset ManagementLyxor ETF Commodities CRB

  • Lyxor Asset Management - Lyxor ETF Commodities CRB Non-Energy

    19 Jul 2007

    Lyxor Asset ManagementLyxor ETF Commodities CRB Non-Energy

  • Mann says primary advice will benefit many consumers

    19 Jul 2007

    Bankhall chief executive Peter Mann says advisers going down the primary advice route will ensure that consumers are able to receive good quality basic financial advice.

  • Maudslay leaves Advantage

    19 Jul 2007

    Advantage co-founder and joint managing director Simon Maudslay has left the company. Advantage was set up as a mortgage packager in 1991 before being bought by Morgan Stanley in 2005 and transformed into a lender.

  • Measure for measure

    19 Jul 2007

    Promoting the value of bespoke advice should be a collaborative effort between brokers and insurers, says PruHealth sales director Dave Priestley.

  • Mercer Global seeks strategic partnerships to access UK

    19 Jul 2007

    Manager of managers specialist Mercer Global Investments is entering the UK retail market through a limited number of strategic partnerships with insurance companies and will be adding three new funds to its range.

  • Midas favours unfettered framework for multi-asset

    19 Jul 2007

    Midas Capital believes multi-asset investing is more effective when combined with an element of multi-manager.

  • Montagon elected chairman of ICGN

    24 Jul 2007

    The Association of British Insurers has announced Peter Montagon, director of investment affairs at the ABI, has been elected chairman of the board of the International Corporate Governance Network.

  • MPC deputy governor Lomax voted against increasing July bank rate

    18 Jul 2007

    MPC deputy governor responsible for monetary policy Rachel Lomax was one of three committee members to vote against increasing bank rate to 5.75 per cent this month.

  • MPC member says uncertainty remains over continued build-up of household debt

    20 Jul 2007

    External member of the MPC Professor Timothy Besley has warned there remains uncertainty over the continued build-up of household debt and the future path of effective interest rates faced by households on this debt.

  • Nationwide 25-year fix at 6.39% has decade's ERC

    19 Jul 2007

    Nationwide has responded to Chancellor Alistair Darling's calls for more 25-year fixed-rate mortgages by introducing a loan starting at 6.39 per cent.

  • Nationwide confirms broking arm details

    18 Jul 2007

    Nationwide has announced further details on how its prime intermediary arm will operate following the planned merger with Portman Building Society on August 28.

  • NU blunder overstates retirement income forecast

    19 Jul 2007

    Norwich Union has overestimated the retirement inc-ome of thousands of savers by sending out inaccurate statements about how much cash they can expect to receive in retirement.

  • Off target

    19 Jul 2007

    Target return funds have failed to deliver so why do investors brother?

  • Old Kent road to India

    19 Jul 2007

    Annie Shaw takes passage to India to look at Kent Reliance Building Society's unconventional but successful outsourced call centre in Bangalore.

  • Over 80% of DB plans shut to new entrants

    19 Jul 2007

    Eighty-one per cent of defined-benefit schemes are closed to new entrants compared with 68 per cent two years ago, according to a survey by the Association of Consulting Actuaries.

  • Pain relief

    19 Jul 2007

    The great mining specialist fund manager Julian Baring observed that reacting to pain is the downfall for most investors. He said it is the pain of not owning something that has performed very well that causes investors to pile in at the worst moment and it is the pain of owning something that has performed poorly that causes many to sell just as the investment turns for the better.

  • Parliament Act means the end to Pensions Bill opposition

    20 Jul 2007

    The Parliament Act has ended any further House of Lords opposition to the Government's treatment of victims of occupational schemes collapses.

  • Pension lifeboat amendment defeated as Government pledges further help

    18 Jul 2007

    The Government easily defeated a Pensions Bill amendment to set up a “lifeboat” fund for victims of occupational scheme collapses after promising more help to those who lost out.

  • Pension watchdog slams merger plan

    19 Jul 2007

    Outgoing pension ombudsman David Laverick has fired a parting shot at proposals to merge his office with the Financial Ombudsman Service.

  • Pioneer removes final exclusions from its Pure Protection product

    23 Jul 2007

    Pioneer Friendly Society has announced it will remove the final two exclusions, war and HIV, from its Pure Protection contract.

  • Policy to offer payout pledge

    19 Jul 2007

    Lifesearch is in discussions with life companies about creating a protection policy that is guaranteed to pay out.

  • Policyholders going abroad face losing their critical cover

    19 Jul 2007

    Sesame research manager Dale Tranter says critical-illness policyholders could be left without cover because some product providers stop cover if they are out of the area stated in their policy for as little as 13 weeks.

  • Poll shows Money Marketing is top for coverage

    19 Jul 2007

    Money Marketing has been voted the top IFA weekly trade publication in the latest PIMS Readership Survey.

  • Practitioner panel defends commission at FSA APM

    19 Jul 2007

    The regulator’s Practitioner Panel has told the FSA’s annual public meeting that it has seen no proper or reliable evidence of commission bias and called for consumers to be allowed the choice of fees or commission.

  • Premier poised for £52m MBO

    19 Jul 2007

    Premier Asset Management is set for a £51.9m management buyout, backed by venture capitalist Electra Partners.

  • Professional touch

    19 Jul 2007

    Following the publication of the retail distribution review, the response from both practitioners and the media is probably best described as mixed. Some of the commentary has been astute, some less so.

  • Property pile-up

    19 Jul 2007

    Many IFAs may have been reckless to lead their clients into property funds.

  • Providers to profit in pre-RDR sell-off

    19 Jul 2007

    Ernst & Young is warning there could be a fire sale of highcommission products as providers seek to cash in before the RDR is implemented.

  • RDR battle lines are drawn

    23 Jul 2007

    The FSA’s practitioner panel has waded into the future of commission debate suggesting one of the key foundations of the retail distribution review may not be as clear cut as the regulator suggests.

  • Resolution rebuilds US growth fund

    20 Jul 2007

    Resolution Asset Management has overhauled its US equities fund in a bid to move towards a retail strategy.

  • Sales of equity release plans increase

    23 Jul 2007

    Sales of equity release plans have jumped by almost a fifth, according to equity release specialists Key Retirement Solutions.

  • Sants is facing retail challenge

    19 Jul 2007

    Hector Sants is the FSA's new chief executive, beating fellow managing directors Clive Briault and David Kenmir and a number of external candidates.

  • Scarborough Channel Islands launches new savings suite

    24 Jul 2007

    Scarborough Channel Islands has launched a suite of savings bonds with the option for customers to fix their rate for six months, one year or two years.

  • School's out for IFA

    19 Jul 2007

    I was disturbed to read Professional Brief (June 21) and the criticism of IFAs by Filip Slipazcek.

  • Scottish Life attacks FSPP views on commission

    24 Jul 2007

    Scottish Life has attacked the recent comments on commission made by the FSA’s Practitioner Panel suggesting it has misinterpreted the goals of the Retail Distribution Review.

  • Sense of values

    19 Jul 2007

    The famous phrase in investment compliance, that "the value of investments can fall as well as rise", is equally acceptable in its reversed format, "the value of investments can rise as well as fall".

  • Sesame set to boost ARs with Friends' backing

    19 Jul 2007

    Sesame chief executive Patrick Gale says he expects to grow the firm's appointed representative network rapidly under the ownership of Friends Provident.

  • Skandia's paid critical illness claims up

    20 Jul 2007

    Skandia paid 89 per cent of critical illness claims in the year to June 2007, up one percent from the previous year.

  • Skipton is aiming to build broker business

    19 Jul 2007

    Skipton Building Society is signalling its intent to increase its share of the intermediary market by outlining plans to improve its online systems and offer retention fees to brokers.

  • Small to join Tisa

    24 Jul 2007

    Malcolm Small has joined Tisa as director, portfolio and retirement planning.

  • Snowdonia Fof gets new benchmark

    19 Jul 2007

    Buckles has changed the composite benchmark of its Snowdonia growth fund of funds as it felt the previous benchmark did not reflect the portfolio's global remit.

  • Societe Generale Asset Management - SGAM AL Equity Fund: Caxton Equity

    19 Jul 2007

    Societe Generale Asset ManagementSGAM AL Equity Fund: Caxton Equity

  • Sting like a Bee

    19 Jul 2007

    I want to move away from the retail distribution review. This does not mean the subject is no longer important and I heartily commend to you the article in last week's Money Marketing by Nick Bamford, in which he called on all IFAs to take part in the debates over the RDR in the coming weeks and months.

  • Surprise surprise, protection industry needs innovation

    24 Jul 2007

    The Protection Review conference and dinner went like a charm a couple of weeks ago with many industry gurus giving their two bobs worth about what providers and advisers have been doing and should be doing to close the protection gap.

  • Swip aims Sicav at continental Europe

    19 Jul 2007

    Scottish Widows Investment Partnership is looking to boost sales into continental European with the launch of a Luxemburg-based Sicav.

  • Take heart

    19 Jul 2007

    Partnership Home Loans is offering a lifetime mortgage which will be of great help to the elderly who are in ill-health. Those who are overweight, have high blood pressure or smoke with a history of heart problems will be able to borrow a much higher percentage of the value of their house than is normally available.

  • Teenager shows way for future

    19 Jul 2007

    It is with some sadness I came across a letter in last week's Money Marketing from Tom Gardner criticising Brocha Simon's commendable desire to complete the IFS's Cefa and Cemap at the age of 16.

  • The Mortgage Works - Two Year Fixed Buy To Let

    19 Jul 2007

    The Mortgage WorksTwo Year Fixed Buy To Let

  • The Mortgage Works - Two Year Fixed Buy To Let

    23 Jul 2007

    The Mortgage WorksTwo Year Fixed Buy To Let

  • The sum of parts

    19 Jul 2007

    Continuing to look at offshore roll-up funds with a practical example of how gains are calculated on part-encashment.

  • Through the motions

    19 Jul 2007

    What good are consultations if the Government has made up its mind?

  • Towry takes over MLP's UK business

    19 Jul 2007

    Towry Law has acquired the UK assets, advisers and clients of MLP Private Finance in a deal completed last week.

  • Tranter fears NU's critical-illness amnesty may backfire

    19 Jul 2007

    Sesame product manager Dale Tranter says Norwich Union could be shooting itself in the foot by encouraging critical-illness policyholders to admit any non-disclosure on their applications.

  • UBS makes 130/30 UK debut

    19 Jul 2007

    UBS Global Asset ManagementUS 130/30 Equity Fund

  • When leaving presents problems

    19 Jul 2007

    Alan Hughes, financial services associate, and Mikki Duncan, employment partner, at Bond Pearce LLP consider the implications of two recent legal case which have produced interesting rulings on contract restrictions designed to protect employers.

  • Whitechurch launches mortgage club

    24 Jul 2007

    Whitechurch Network is launching a mortgage club for members in conjunction with 1st Source Direct.

  • Witan appoints new managers for investment trust

    18 Jul 2007

    Witan has appointed two new managers for its investment trust with Comgest and Orbis taking on the trust’s Asia ex-Japan and Australasian portfolios respectively.

  • Woolwich launches new online tool

    23 Jul 2007

    Woolwich has launched a new mortgage sales tool in a bid to improve its service for intermediaries.

  • WorldCom in motion

    19 Jul 2007

    The multi-billion-dollar settlement of class actions against Enron, Tyco and WorldCom spells an unexpected boon for UK bond funds as they begin to receive some of the payouts. But in order to receive them, fund managers had to admit to owning holdings in the firms at the time they defaulted - an admission not many managers made openly to the press or investors at the time of these firms' demise.

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