This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM+201114+Cover+Small

18 March 2009

Money Marketing

  • L&C looks to boost mortgage academy

    19 March 2009

    Mortgage broker London & Country has revealed that it is searching the mortgage market for existing brokers to join its academy and retrain as well as new graduates.

  • LV= realistic target

    20 March 2009

    LV= Asset ManagementLVAM UK Equity Income Fund

  • 2plan launches virtual administration service

    20 March 2009

    2plan Wealth Management has launched an online administration service to help advisers with high productivity levels manage their work load.

  • 40-strong adviser firm joins 2plan Wealth Management

    24 March 2009

    Forty-strong adviser firm Source Financial Limited is to join national IFA 2plan Wealth Management.

  • 78% Of IFAs want FSA scrapped

    19 March 2009

    An online Money Marketing poll reveals 78 per cent of IFAs believe the FSA should be disbanded and replaced, with 22 per cent voting against a restructure.

  • Abbey on the right track

    23 March 2009

    Abbey For Intermediaries3-Year Variable Rate Tracker

  • Abbey reduces fixed rate

    20 March 2009

    Abbey has reduced the rates on some of its fixed rate mortgages.

  • ABI calls for regulator to 'send messages to the market'

    19 March 2009

    The Association of British Insurers wants the FSA to be more open with investors to help them assess firms' corporate governance standards.

  • ABI says EU should oversee regulators

    19 March 2009

    The Association of British Insurers says major structural changes to UK regulation would be a "distraction" from current challenges but says an EU supervisor is needed to oversee national regulators.

  • Adviser Fund Index

    19 March 2009

    The Investment Management Association's clampdown on the UK equity income sector has affected some of the biggest names in the industry.

  • Adviser roles probed in SFO Ponzi cases

    19 March 2009

    The Serious Fraud Office is investigating seven suspected frauds in financial services which may include Madoff-style Ponzi schemes and is looking at the role played by intermediaries.

  • Advisers are urged to check collateral risk

    19 March 2009

    Advisers should look at whether issuers of capital-protected structured products are covered by collateral arrangements when gauging risk, warns Schroders structured investments manager John Teahan.

  • Advisers back NU move to bring in protection exam

    19 March 2009

  • Advisers don't expect outcome to be different

    19 March 2009

    Advisers are doubtful that the FSA's switch from principles-based to outcomes-focused regulation will bring any significant change.

  • Aifa to launch online RDR academy

    24 March 2009

    The Association of Independent Financial Advisers today announced plans for an online academy for IFA firms to help them meet the demands of the retail distribution review.

  • Alliance Trust doubles Oeic range

    20 March 2009

    Alliance Trust Asset Management, a subsidiary of the 120-year old Alliance Trust investment trust, has doubled its Oeic fund range with the launch of UK equity income and North American equities funds.

  • Annuities hit by gilt spree

    19 March 2009

    Providers have cut their annuity income offers by up to 3.6 per cent since the Bank of England started its quantitative easing programme last week.

  • Ascentric adds 103 funds to its platform

    19 March 2009

    Ascentric has added 103 extra funds to its platform bringing its total to 2,944 funds from 231 fund managers.

  • Axa boosts Elevate Pension Investment Account

    18 March 2009

    Axa has boosted its Elevate Pension Investment Account in a bid to give advisers more control of the management and payment of their clients pensions.

  • Axa Elevate appoints three new distribution directors from rivals

    24 March 2009

    AXA Distribution Services has appointed three new distribution directors to its Elevate platform.

  • Axa withdraws ASU cover from its protection account

    24 March 2009

    Axa is withdrawing its accident, sickness and unemployment offering to new customers as part of its Axa Protection Account from today.

  • Barclays changes bond wording

    19 March 2009

    Barclays has changed the contract terms of its fixed-rate savings bond after the FSA found some sections were were not clear and unambiguous.

  • Barclays defeats court order appeal over tax affairs

    19 March 2009

    Barclays has won a continuation court order that prevents The Guardian newspaper from publishing document on its tax affairs.

  • Barclays Global Investors - iShares Barclays Euro Corporate Bond

    24 March 2009

    Barclays Global InvestorsiShares Barclays Euro Corporate Bond

  • Barclays Global Investors - iShares Barclays Euro Aggregate Bond

    24 March 2009

    Barclays Global InvestorsiShares Barclays Euro Aggregate Bond

  • Barclays knocked off track by high risk factor

    23 March 2009

    Barclays Wealth3-Year FTSE Super Tracker (January 2009 edition)

  • Barclays reissues defined returns

    20 March 2009

    Barclays Wealth is reissuing the defined returns annual kick-out (AKO) plan with a new investment option, allowing advisers to tailor the plans to suit different risk/reward profiles.

  • Barclays targets wealth

    20 March 2009

    Barclays Wealth Target Growth Plan

  • Baronworth Investment Services launches GI subsidiary

    23 March 2009

    Baronworth Investment Services has appointed Aon’s Grant Carter to head up its newly formed general insurance subsidiary.

  • Best of both worlds from Woolwich

    20 March 2009

    Woolwich 1 Year Fix & Track

  • BlackRock gold manager Birch goes on sabbatical

    19 March 2009

    BlackRock gold and general fund manager Graham Birch is taking a sabbatical for the rest of this year.

  • BlackRock's Thiel points to opportunities for fixed income investors

    23 March 2009

    BlackRock head of European fixed income Scott Thiel believes that quantitative easing will offer a dual benefit to fixed income investors.

  • Bluefin site helps advisers create training package

    19 March 2009

    Bluefin is creating a website offering adviser training facilities and professional qualifications development.

  • Bolton calls the bottom

    19 March 2009

    Fidelity's Anthony Bolton has called the bottom of the stockmarket slump and says banking stocks are well placed to benefit from the upturn.

  • Brassneck Sandler angers advisers at CII bash

    20 March 2009

    Rarely, if ever, have I seen a public speaker so misjudge the mood of their audience.

  • Broker Talkback

    19 March 2009

    Do you agree with the FSA's move away from principle-based regulation?Yes 63%No 37%

  • Budget blues

    19 March 2009

    The FSA budget for the coming financial year is nearly £500m, funded entirely by the industry. This figure is the highest ever asked for by a regulator of any description in any industry at any time. Such a figure cannot go without comment and challenge, if only for the sake of balance and accountability.

  • Bupa increases CI cover limit

    23 March 2009

    Bupa Individual Protection is increasing the amount cover available across its range of critical illness products.

  • Calculus calls for support to help with EIS funding

    19 March 2009

    Calculus Capital says the Government will severely harm GDP growth if it does not support enterprise investment scheme funding.

  • Cameron attacks FSA for product obsession

    24 March 2009

    Conservative leader David Cameron has today launched a scathing attack on the FSA’s regulation of the banks saying Lord Turner’s Review was a “withering critique of its failings”.

  • Cameron moves to end IHT confusion

    24 March 2009

    Conservative leader David Cameron has been forced to insist that his pledge to increase the inheritance tax threshold stands firm after suggestions that the Tories had done a U-turn.

  • Cash concerns batter life office shares

    19 March 2009

    UK life insurers have underperformed the FTSE All Share massively over the past 12 months, with some shares plunging by 75 per cent.

  • Cazenove rebrands funds

    20 March 2009

    Cazenove Capital has rebranded two funds and and revised their fund objectives to extend its multi-manager diversity range.

  • Choose wisely

    19 March 2009

    Prudential's new income choice annuity makes a bold attempt to bring the benefits of long-term stockmarket growth to a wider group of annuity purchasers. With quantitative easing raising the stakes on long-term inflation risk and already having an effect on annuity rates, hard-pressed retirees are desperate for new ways to grow their income.

  • Clearer view of qualifications

    19 March 2009

    The FSA statement issued last week on the subject of the new benchmark qualification was long overdue but most welcome. The recent confusion and differences of opinion over what constitutes a level 4 qualification needed to be resolved.

  • CML blames Government policy for 8-year lending low

    19 March 2009

    The Council of Mortgage Lenders has blamed “fractured policy” for plummeting mortgage lending figures in February.

  • Cobalt breakout brokerage joins MAB

    20 March 2009

    Coreco Group, the new brokerage formed by senior members of Colbalt Capital, has joined the Mortgage Advice Bureau.

  • Concordia continuum

    19 March 2009

    Concordia, the collaboration between the five bigger London-based DAs - Savills Private Finance, Alexander Hall, Chase de Vere Mortgage Management, Hamptons International and Cobalt Capital - has dwindled in size to just two members.

  • Coral and Sprefs study accommodation for students

    20 March 2009

    Coral/Strutt & Parker Real Estate Financial Services Coral Student Portfolio

  • Cru crunch sparks demand for cautious sector clarity

    19 March 2009

  • Crunch time for cru

    23 March 2009

  • Dangers of FSA regulation by foresight

    19 March 2009

    Be frightened, be very frightened of the FSA, chief executive Hector Sants has declared. Last week, the regulator came out fighting against the recent barrage of criticism and signalled an end to its obsession with principle-based regulation.

  • Darling won’t rule out Rock and B&B mortgage book merger

    19 March 2009

    Chancellor Alistair Darling has not ruled out a merger of the mortgage books of Northern Rock and Bradford & Bingley.

  • De Blonay looks to asset managers to lead the turn-round

    19 March 2009

    New Star global financials manager Guy de Blonay believes that asset managers are best positioned to lead a turn-round in the financials sector.

  • 'Don't judge multi-asset on one year's performance'

    19 March 2009

    Swip's multi-manager team believes multi-asset investment should not be dismissed as a failure on the basis of one tough year.

  • Don't tar all havens with same brush

    19 March 2009

    Prime Minister Gordon Brown has welcomed efforts to close tax loopholes, hailing the "beginning of the end of tax havens".

  • Downing VCT provides dual strategy

    20 March 2009

    The Downing protected opportunity VCT 1 provides a dual strategy, allocating around half of its fund to institutional structured products and the other half to lower risk venture capital investments.

  • Drawdown suffers in quantitative move

    19 March 2009

    Income-drawdown investors could see their annual withdrawal limit drop significantly as a result of the Bank of England's quantitative easing programme, says Scottish Life.

  • Duck for cover

    24 March 2009

    Unemployment could double unless the UK Government takes drastic action against recession, warned a Bank of England policymaker this week.

  • Eadon calls for holistic equity-release approach

    19 March 2009

    Former Personal Finance Society chief executive Tim Eadon has attacked the sales focus of advisers in the equity-release sector and called for more to offer holistic retirement planning.

  • Easy does it

    19 March 2009

    Last week was memorable for two reasons. It was the first time that quantitative easing was put into practice by the Bank of England. These two words were never heard together in my experience until recently. Like extreme rendition, they have moved swiftly into common usage.

  • Ex-FSA CEO Tiner proposed for Credit Suisse board

    24 March 2009

    Former FSA chief executive officer John Tiner has been put forward for election to join Credit Suisse’s board of directors.

  • F&C makes positive addition to ethical market

    23 March 2009

  • Fad funds faltering

    19 March 2009

    Two-thirds of themed Isas are showing a negative performance, according to Skandia research.

  • Fidelity calls on Chancellor to reinstate dividend tax credit for equity Isas

    18 March 2009

    Fidelity has written a letter to the Chancellor calling for an immediate reinstatement of dividend tax credit for equity Isas.

  • Fidelity calls the shots

    23 March 2009

    Fidelity International Enhanced Income Fund

  • Fidelity Intl wants to shut 10 multi funds

    19 March 2009

    Fidelity International is proposing to close 10 of its 12 offshore multi-manager funds as they have failed to generate critical mass. The natural resources fund and global high-alpha fund will remain open.

  • Fined duo join St James's Place

    19 March 2009

    St James's Place has taken on two directors of a firm which was recently fined £28,000 for failing to provide suitable advice.

  • Firms get three-month waiting period for auto-enrolment

    19 March 2009

    Employers will be allowed to operate a 90-day waiting period before they need to auto-enrol staff into a private pension scheme after 2012.

  • Firms link up to aid advisers on TCF

    19 March 2009

    FinQS and Perception Support have joined forces to offer firms a range of treating customers fairly resources and software through FinQS' online client feedback system TCF Centre.

  • Focus on the future

    19 March 2009

    Last week, I took part in Scottish Life head of pensions strategy Steve Bee's podcast. The focus of our talk was pensions and what damage was being done, with the focus on pension savings always falling on the contributions.

  • FOS will name and shame from September

    19 March 2009

    The Financial Ombudsman Service will publish business-specific complaint data every six months from September, for every firm that has at least 30 new and closed cases during the period.

  • Friends goes live with ABI's Options annuity drive

    23 March 2009

    Friends Provident is the latest provider to go live with the Association of British Insurers' Options initiative to speed up annuity transfers.

  • FSA banking staff were BoE supervisors

    19 March 2009

    FSA chief executive Hector Sants says it was former Bank of England employees within the FSA who led the areas where the regulator had operational failings.

  • FSA cancels its own internal "effectiveness" review

    23 March 2009

    The FSA has cancelled this year’s review of its own effectiveness, amidst criticism of the failure of “light-touch” regulation to identify risks in the banking system.

  • FSA censures Mortgages Remortgages for self-cert failings

    24 March 2009

    The FSA has publicly censured Doncaster mortgage broking firm Mortgages Remortgages Ltd for exposing up to 80 customers to the risk of being sold an unsuitable self-certified mortgage.

  • FSA fines insurance broker Aspray Limited £21,000

    19 March 2009

    The FSA has fined Blackburn insurance broker Aspray Limited £21,000 for failing to monitor its appointed representatives and for misleading its clients and the regulator.

  • FSA is the biggest detriment to the public

    19 March 2009

    According to Ernst & Young, as many as two million clients could be left without access to an IFA after retail distribution review implementation.

  • FSA may regulate IFA remuneration

    18 March 2009

    The FSA is considering whether to extend its Code of remuneration practices to retail investment advisers, despite admitting that intermediary firms’ remuneration practices did not play a significant role in the crisis.

  • FSA to end accruals to DB scheme

    18 March 2009

    The FSA is planning to stop all future accruals to its staff final-salary pension scheme from March 31, 2010.

  • FSA Turner-round

    18 March 2009

    This morning's press conference with Adair Turner lacked frantic media scrums, flashing camera bulbs and even hearty heckling from reporters about the FSA's failings.

  • FTSE boosted by financials

    23 March 2009

    The FTSE 100 opened almost 40 points higher today at 3,882 today, up from Fridays close of 3,843 as investors anticipate details from the US Treasury on its plan to buy toxic assets from banks.

  • FTSE fizzles with unemployment fears

    18 March 2009

    The FTSE 100 opened higher today at 3,871.27 on Tuesday’s close of 3,857.10 but dipped as low as 3,837 following unemployment figures out from The Office for National Statistics.

  • FTSE retreats after early gains

    19 March 2009

    The FTSE 100 has closed 0.31 per cent higher at 3,817, following a promising open of 3,812 with late retreats wiping out earlier gains in the financial sector.

  • FTSE up 2 per cent on the week

    20 March 2009

    The FTSE 100 has closed 2.4 per cent up on Monday's open of 3,754 finishing the week at 3,843.

  • Fund guru blames FSA for the banking crisis

    19 March 2009

    Fidelity president of investments Anthony Bolton says the FSA should take the brunt of the blame for the banking crisis.

  • GE Capital could lose £759m in UK mortgage market

    20 March 2009

    GE Capital chiefs admitted the lender could lose as much as £759m ($1.1bn) in the UK mortgage market over 2009.

  • Goldman Sachs may bid for Barclays' iShares

    24 March 2009

    Goldman Sachs is reported to be preparing a bid for Barclays' asset management business iShares.

  • Goodwin took 2.7m on pension

    19 March 2009

    City minister Lord Myners has admitted to the Treasury select committee that he failed to ask the board of Royal Bank of Scotland how much ex-chief executive Sir Fred Goodwin would ultimately get for his pension. Myners also revealed to MPs that Goodwin had taken a 2.7m cash advance on his pension.

  • Govt gets an Equitable slap in the face

    19 March 2009

    The Government has received another pasting over the whole Equitable Life debacle, this time from the MPs in the cross-party public administration committee.

  • Govt prepares £60m bailout of Dunfermline BS

    23 March 2009

    The Government is preparing an emergency £60m bailout of Scotland's largest building society Dunfermline in a bid to prevent a run on the mutual.

  • Guard times

    19 March 2009

    The deadline for applying for protection of pre-April 2006 pension rights is looming on April 5, 2009. What options are available and who should register?

  • Hargreaves Lansdown hits back at MP's attack

    19 March 2009

    Hargreaves Lansdown has slammed a Treasury select committee MP for using the company's recent savings promotion as an example of bad financial practice.

  • Hasley provides personal touch

    23 March 2009

    Hasley Investment ManagementElite Hasley Best Ideas Portfolio

  • Healthy balance

    19 March 2009

    Whatever you think of media coverage of high-profile personalities' battles with cancer, the effect has been an increased awareness of these cancers and the importance of monitoring your health and getting yourself screened, even if you feel perfectly well at the time of your check-up.

  • Homeloans on the RDR

    19 March 2009

    The FSA is to review the mortgage conduct of business rules in the third quarter of this year, raising questions over whether it will implement aspects of the retail distribution review in the sector.

  • Ignis Asset Management/Hexam Capital - Ignis Hexam Global Emerging Markets Fund

    23 March 2009

    Ignis Asset Management/Hexam CapitalIgnis Hexam Global Emerging Markets Fund

  • Ignis Hexam mirrors emerging markets fund

    23 March 2009

    Ignis Asset Management and emerging markets boutique Hexam have brought out a onshore mirror of their Dublin-based global emerging markets fund.

  • Imagined from the past

    20 March 2009

    In the wake of the FSA’s revelation that it may restrict mortgage products, Money Marketing thought it was time to visit another example of mortgage restrictions.

  • IMF warns global crisis could lead to war

    24 March 2009

    The managing director of the International Monetary Fund has warned that the global financial crisis can exacerbate social unrest in emerging economies and even lead to war.

  • In the lapse of the gods

    19 March 2009

    In times of recession, consumers cut their spending on non-essential items and unfortunately protection insurance is sometimes put into this category.

  • Invesco seeks yield without frontiers

    23 March 2009

    Invesco PerpetualGlobal Equity Income Fund

  • Investec launches multi-asset protector

    20 March 2009

    Investec has the launched the multi-asset protector fund which aims to provide cautious investors access to the market through a multi-asset portfolio while providing and 80 per cent protection barrier against equity market falls. The fund will be managed by Max King and Philip Saunders.

  • IPPR warns we could face 3 per cent RPI deflation by Autumn

    24 March 2009

    The Institute of Public Policy Research has warned we could see 3 per cent deflation by the Autumn on the retail price index measure.

  • JHP apprenticeships accredited by CII

    19 March 2009

    JHP Training has been accredited by the Chartered Insurance Institute for its financial services apprenticeship programmes.

  • JPMorgan fired up for income

    20 March 2009

    JPMorgan Asset ManagementUS Equity Income Fund

  • Jubilee Financial Products - The Early Redemption Plan - Issue 1

    20 March 2009

    Jubilee Financial ProductsThe Early Redemption Plan - Issue 1

  • Jupiter cancels launch of China company

    19 March 2009

    The Board of Jupiter China Sustainable Growth Ltd has decided against the launch of the company after the group failed to reach what the firm sees as a minimum launch size.

  • Just another deal from Abbey for Intermediaries

    20 March 2009

    Abbey For IntermediariesTwo Year Homebuyer Fixed 3.89%

  • Keydata unlocks extra income

    20 March 2009

    The Keydata extra income plan issue 25 providers a monthly and annual income option. Linked to the FTSE 100 index, the plan offers 50 per cent capital protection barrier and whilst capital value tracks the index the income or growth payment are unaffected.

  • LaSalle appoints head of portfolio management for Northern Europe

    23 March 2009

    LaSalle Investment Management has appointed Insa von Jürgensonn as regional director and head of portfolio management for Northern Europe.

  • LibDems fear DB schemes could sink PPF

    19 March 2009

    The Liberal Democrats have warned that the Pension Protection Fund will have serious funding issues if the recession worsens after it emerged that 91 per cent of all defined-benefit pension schemes are in deficit.

  • Lifesearch's Baigrie says RDR will fail

    19 March 2009

    Lifesearch managing director Tom Baigrie has rubbished the FSA’s retail distribution review and suggested it will not be implemented in full.

  • Liontrust hires replacements for Lang and Pattisson

    24 March 2009

    Liontrust has appointed Gary West, James Inglis-Jones, Anthony Cross and Julian Fosh to assume management of three funds run by Jeremy Lang and William Pattisson, who will leave the firm on April 15.

  • Liontrust poaches European fixed income team from Ilex Asset Management

    24 March 2009

    Liontrust Asset Management has recruited five partners of the European fixed income team from London-based Ilex Asset Management.

  • Littlewood set for retail return

    19 March 2009

  • Living Time presses reset button

    20 March 2009

    Living TimeIncome Plan

  • Lord Foulkes claims RBS non-execs pressured into silence

    23 March 2009

    Labour peer Lord George Foulkes has written to the FSA claiming that three non-executive directors of the Royal Bank of Scotland were pressured to keep their concerns about the bank quiet.

  • LV= urges more retirees to opt for enhanced annuity

    24 March 2009

    UK retirees could be missing out on up to £56.6m of retirement income each year by not purchasing an enhanced annuity, according to research by LV=.

  • Make a difference

    19 March 2009

    It was a matter of luck I suppose that I began a career in the financial services industry. Home on a 72-hour pass from my posting in Germany as a national serviceman, a mate said his girlfriend's boss was looking for a new recruit. It was a good job - you got a car and played golf most days.

  • Match of the day

    19 March 2009

    Considering more than half of net inflows into funds are headed into fixed-interest sectors at the moment, investors should be aware that the nature of bond funds is undergoing a change and may need to adjust their expectations and approaches.

  • MetLife raising guarantee cost

    19 March 2009

    MetLife is to significantly increase the price of its income for life and capital guarantees due to market volatility.

  • Miles to replace Blanchflower on the MPC

    19 March 2009

    Morgan Stanley chief economist David Miles will be succeeding David Blanchflower on the Bank of England’s Monetary Policy Committee.

  • Morgan Stanley gets defensive

    20 March 2009

    Morgan Stanley has introduced a new structured product, the FTSE defensive gilt-backed growth plan.

  • Mortgage lending halves in Q4 2008

    19 March 2009

    Mortgage lending almost halved to £45bn in the fourth quarter of 2008 from £86.6bn in 2007. Repossessions surged by 68 per cent to 46,750 last year from 27,900 in 2007.

  • MPs should look again at evidence

    19 March 2009

    I sent my first evidence to the Treasury select committee on February 6. The following Tuesday, February 10, Lord Stevenson, the ex-HBOS chairman, and Andy Hornby, the former chief executive, were cross-examined by the committee about my evidence and denied my allegations.

  • MPs slam Govt's "constitutionally dubious" and "shabby" Eq Life response

    19 March 2009

    MPs have lambasted the Government's response to the Parliamentary ombudsman's call for compensation for Equitable Life policyholders as "shabby, constitutionally dubious and procedurally improper".

  • Myners' future in doubt after tax dodge

    23 March 2009

    City Minister Lord Myners' future was called into question this week after it emerged that he helped to set up a business in Bermuda to avoid paying UK tax.

  • Myners wants more constraints on banks

    19 March 2009

    City minister Lord Myners has suggested that bank directors should be legally obliged to consider the overall stability of the financial system when taking business decisions.

  • Nationwide - 2 Year Fixed - Option A

    20 March 2009

    Nationwide2 Year Fixed - Option A

  • Nationwide - 2 Year Fixed - Option B

    20 March 2009

    Nationwide 2 Year Fixed - Option B

  • Nationwide predicts £250m FSCS levy

    20 March 2009

    Nationwide has predicted that it will have to pay out £250m in levies for the FSCS.

  • Nationwide returns with a fix

    20 March 2009

    Nationwide Building SocietyTwo Year Fixed Rate

  • Network Data says error caused late commission payments

    19 March 2009

    Network Data has told appointed representatives that human error is to blame for delays in commission payments.

  • New Star multi duo will join Henderson

    19 March 2009

    New Star multi-manager duo Mark Harris and Craig Heron are to join Henderson Global Investors, ending speculation about their future.

  • New Star's James Gledhill to join Henderson

    24 March 2009

    New Star's head of fixed income James Gledhill will be joining Henderson following the completion of the merger.

  • New Star's Pease sees US and Europe leading bounceback

    19 March 2009

    New Star European growth fund manager Richard Pease believes that the close correlation between Europe and the US markets could see the pair lead a bounceback.

  • Newcastle Intermediary Services - Guaranteed Capital Performance Account – Issue 5

    20 March 2009

    Newcastle Intermediary ServicesGuaranteed Capital Performance Account – Issue 5

  • Nick Eatock

    19 March 2009

    Intelliflo chief executive officer Nick Eatock started his career in computers by designing three best-selling computer games when he was still at school. Eatock and a friend wrote a fantasy game called Sorderon's Shadow when they were 16 and it reached number one in the gaming charts at the same time that Duran Duran reached number one in the music charts.

  • NU launches graduate IFA programme

    18 March 2009

    Norwich Union has launched its ‘Future Adviser Programme’ to entice graduates to pursue a career in financial advice.

  • Only 5,000 good IFAs in UK, says Nucleus' Ferguson

    20 March 2009

    Nucleus chief executive David Ferguson has claimed that only 5,000 of the 30,000 IFAs working in the sector can be deemed "credible" advisers.

  • Options firms slash transfer turn-round to just 12 days

    19 March 2009

    Product providers which have signed up for the Association of British Insurers' open market options' initiative have reduced the average time to complete a transfer to 12 days.

  • Our spending slump is hitting the world's poor

    19 March 2009

    Returning from Australia late in January, we avoided the misery of travelling for 26 hours non-stop by taking a two-day stopover in Dubai. Having spent a miserable time being monsoon rained upon for days on end in the Whitsunday Islands (discovered by James Cook, British navigator on Whit Sunday in 1770 - us Brits are nothing if not logical, albeit somewhat unimaginative), we were determined to have some last-minute sun before returning to our cold and snowy shores.

  • Outcome regime to pose perils for IFAs

    19 March 2009

    Aifa has warned of the danger of the FSA interfering in the way IFAs run their businesses under "outcome-focused" regulation.

  • Over 700 apply for financial services apprenticeships

    23 March 2009

    More than 700 apprentices have enrolled for work-based learning programmes with the National Skills Academy for Financial Services in the past 12 months, and a further 1,000 are preparing to enrol.

  • Paradigm adds HICS to conveyancing panel

    24 March 2009

    Paradigm Mortgage Services has added Halifax Intermediary Conveyancing Service to its panel of preferred conveyancing partners.

  • Pearl considers debt restructure

    19 March 2009

    Hugh Osmond's Pearl Group is reportedly holding talks with banks in a bid to restructure £3bn of debts.

  • People on the move: Distribution 19/03/2009

    19 March 2009

    Money Portal chairman Richard Hambro has decided to step down. Hambro, who has been battling with a serious illness for some time, will be replaced by Mark Tennant, who has been a member of the Money Portal board for several years. He has also held senior roles at Hambros Bank, Hill Samuel and also JP Morgan.

  • People on the move: Investment 19/03/2009

    19 March 2009

    New Star UK alpha fund manager Tim Steer is leaving the firm to join Artemis. Steer is to remain with New Star through its transition process with Henderson, which is set to conclude in April, and will continue to run both the UK alpha and hedge fund Gemini until then.

  • People on the move: Pensions 19/03/2009

    19 March 2009

    Pointon York Sipp Solutions chief executive Christine Hallett has left after 12 years with the firm. She has been on gardening leave and is understood to be looking to set up her own company. Hallett is believed to have left by mutual agreement.

  • Perception sets up workshops for supervisors

    19 March 2009

    Perception Support is hosting two training workshops for supervisors in London and Birmingham in April.

  • PFS offers members The Consulting Consortium TCF tools

    23 March 2009

    The Personal Finance Society has partnered with The Consulting Consortium to offer members two web-based treating customers fairly tools.

  • Pressure points

    19 March 2009

    You might think that the FSA is too preoccupied with the financial stability of banks to worry about adviser firms at the moment. But remember that the regulator has hundreds of staff in its small firms and retail themes divisions and their work is still focused on issues affecting adviser firms.

  • Pre-X Capital Management - Axcess EIS Fund 2009

    20 March 2009

    Pre-X Capital ManagementAxcess EIS Fund 2009

  • Prudential - Income Choice Annuity

    20 March 2009

    PrudentialIncome Choice Annuity

  • Prudential's Mark Tucker to step down

    19 March 2009

    Prudential's chief executive Mark Tucker has announced he will step down from his position in October as the firm posted an EEV profit increase of 17 per cent at £2.9bn in its results.

  • Qualifications the top priority for recruiters

    19 March 2009

    A financial services recruitment firm says headhunters are putting more emphasis on qualifications than experience when sourcing jobs for IFAs.

  • RAM Capital Partners/Climate Change Capital - Ventus VCT and Ventus 2 VCT C Shares

    20 March 2009

    RAM Capital Partners/Climate Change CapitalVentus VCT and Ventus 2 VCT C Shares

  • Regulator hits back at Tories' twin peaks plan

    19 March 2009

    Conservative proposals to split the FSA into two separate bodies have been rejected by the regulator which insists that a "twin peaks" approach to regulation would not have avoided the economic crisis.

  • Retirement Adviser now has five staff from Origen

    19 March 2009

    The Retirement Adviser has recruited its fifth employee from Origen Financial Services - annuity consultant Chris Larby.

  • River & Mercantile appoints Alex O'Reilly

    19 March 2009

    River & Mercantile has announced the appointment of Alex O'Reilly as a partner at the firm.

  • Rock wrote £1.8bn Together loans while receiving Gov’t aid

    20 March 2009

    Northern Rock wrote £1.8bn of Together loans while receiving state aid, according to a report by the National Audit Office.

  • S&P cuts ratings on RBS and Lloyds Banking Group hybrids

    24 March 2009

    Standard & Poor's has lowered its ratings on certain perpetual subordinated hybrid capital securities and instruments issued by Royal Bank of Scotland and Lloyds Banking Group.

  • Sants sets out policy change to get tough

    19 March 2009

    The FSA will replace its principle-based regime with "outcome-focused" regulation, which it says signifies a shift to more intrusive and direct governance.

  • Sants slams shareholders

    19 March 2009

    Shareholders need to challenge senior management over companies' business models and risk strategies, says FSA chief executive Hector Sants.

  • Schroders Navigator targeting advisers

    19 March 2009

    Schroders has launched an investment education programme for professional advisers.

  • Schroders renames US small and mid cap

    23 March 2009

    Schroders has renamed its US small and mid cap fund to better reflect the way the vehicle is managed.

  • Scottish Widows - Capital Protected Fund 10

    23 March 2009

    Scottish WidowsCapital Protected Fund 10

  • Sense of morality

    19 March 2009

    Out for a drink last week, I bumped into an acquaintance I had not seen for ages. After swapping stories on what we had been up to over the past few years, the conversation somehow got round to issues of "principle".

  • Sister act

    19 March 2009

    I have a really good friend who I know very well and would trust with my life. He, too, is a hard working financial adviser, about as honest as the day is long and tries his very best to give his clients good advice and service. In every respect, he treats his customers very fairly indeed.

  • Sky structure

    19 March 2009

    Structured investment firm Blue Sky Asset Management has its roots in HSBC, where the three principals all worked together in the 1990s.

  • Small wonders

    19 March 2009

    In an economic downturn, the natural inclination for many investors is to seek cover by holding big and so-called defensive companies. This is because of their perceived relative financial strength while small caps are often, but not always, reliant on one product.

  • Social climbing

    19 March 2009

    As the Royal Mail continues to ponder how to compete with email, a new communication phenomenon will further add to their woes. According to a study by Nielsen, email communications have now been overtaken in popularity by social networking websites.

  • Societies want backing for FSCS levy reforms

    19 March 2009

    Building societies are calling on members to help them petition for reforms to the Financial Services Compensation Scheme's levy system, which they believe is unfairly weighted against them.

  • Split decisions

    19 March 2009

    I am about to get divorced and I have heard that the rules surrounding pensions have changed. What do I need to be aware of?

  • Split picture for Friends

    19 March 2009

    Friends Provident has posted European embedded value full-year profits of 420m, up from 16m in 2007, but suffered an 871m loss on an international financial reporting standards basis and a 500m deterioration in its capital position since December 2008.

  • Standard cuts with-profits values

    19 March 2009

    Standard Life has cut the surrender and transfer values of many of its with-profits plans by 5 to 8 per cent due to poor investment returns.

  • Standard Life aiming to add wrap resources

    19 March 2009

    Standard Life is planning to increase staff resources on its wrap as more advisers turn to platforms for retirement planning.

  • Standard Life cuts platform charges

    19 March 2009

    Standard Life is reducing fund charges across its platform from April 6.

  • Status symbols

    19 March 2009

    Wizard Learning managing director Mike Goldsmith outlines the differences between certified and chartered status.

  • Steer to manage Artemis UK growth fund

    20 March 2009

    Artemis has announced that Tim Steer is to take on the management of the firm's £293m UK growth fund.

  • Stellar needs space

    20 March 2009

    The ungeared income fund from Stellar aims to target an annual income of 6 per cent from a portfolio of self-storage space facilities across the Midlands and North-west.

  • SVM Asset Management - UK Absolute Alpha Fund

    20 March 2009

    SVM Asset ManagementUK Absolute Alpha Fund

  • SVM exercises caution

    23 March 2009

    SVM Asset Management SVM Cautious Managed Retail Share Class A

  • T Bailey still on target

    19 March 2009

    T Bailey says it will not rest on its laurels now it is one of only two multi-managers left in the Investment Management Association's UK equity income sector.

  • Tailored to fit

    19 March 2009

    What carnage across all the markets and almost every asset class. Life office shares for just over 20p and daily percentage swings in blue-chip banks of 20 per cent, interest rates of 0.5 per cent and the bizarre position (since reversed) of sterling increasing in value after a rate cut.

  • Tele scope

    19 March 2009

    What problems have you or your clients encountered when providers use tele-interviewing/tele-underwriting? Would you find it useful if tele-interviewing/tele-underwriting was standardised by all providers?

  • The bountiful game

    19 March 2009

    I enjoy rugby union but regular tinkering with the rules is confusing and suggests the underlying principles of the game need constant modification. I am a football man and believe simplicity of the rules is its strength. I was thinking of this when I looked at the changes that the Association of British Insurers' protection committee are making to total permanent disability.

  • The duallists

    19 March 2009

    I would like to start this article with a look at an important case dealing with the assessability of the proceeds under a keyperson policy. You will know that it is generally accepted that if premiums are not deductible under a keyperson policy, the sum assured will usually not be assessable. One main reason for non-deductibility is duality of purpose, that is, a purpose other than a pure revenue purpose.

  • The exile files

    19 March 2009

    The Investment Management Association has brought an end to months of uncertainty by unveiling the constituents of its newly launched UK equity income and growth sector.

  • The Tory truth

    19 March 2009

    I think I may just have had my Tory moment. The aphorism goes that normal people start off their thinking on the idealist left wing but as we grow older and more cynical, so we all become Tories in the end. I never thought it would happen to me. But two months ago, this column called for the wholesale reform of the FSA and this month that was stated in a Tory report proposal.

  • The Whitechurch Network offers members Orbiter service

    24 March 2009

    The Whitechurch Network is making Orbiter, the online sourcing and compliance service for advisers, available to its appointed representatives.

  • Thinktank says Treasury can't cope with crisis

    19 March 2009

    The Institute for Public Policy Research questions whether the Treasury is equipped to deal with the economic crisis and says it lacks experienced staff.

  • Toil and bubble

    19 March 2009

    One of my favourites jokes from Not the Nine O'clock News has the US apologising for turning up late for the first two world wars and promising to make up for it by being really early for the next one. Financial journalists work in a similar way when it comes to spotting asset bubbles.

  • Tories commit to IHT reduction after Clarke blunder

    23 March 2009

    Conservative Shadow Business Secretary Ken Clarke says the Tories will abolish inheritance tax on estates under £1m if the party gets into power.

  • Tracker margins widen as Libor is left behind

    19 March 2009

    Brokers are warning that lack of competition in the mortgage market is pushing up tracker rates and making Libor irrelevant.

  • 'Traditional platforms are failing IFAs'

    19 March 2009

    Traditional platforms are failing to meet the needs of IFAs by not offering investment management services alongside administrative support, says Parmenion sales director Paul Miles.

  • Treasury appoints second permanent secretary

    23 March 2009

    Prime Minister Gordon Brown has appointed Tom Scholar as second permanent secretary of the Treasury's International and Finance directorate.

  • Trustnet's alpha aims to pick the hot 100 fund managers

    19 March 2009

    Trustnet has launched its new alpha manager rating service that highlights the top 100 managers by long-term performance.

  • TSC attacks banks for failure to deliver on lending agreements

    24 March 2009

    The Treasury Select Committee has expressed anger and frustration that banks who signed lending agreements under the asset protection scheme are not keeping their side of the bargain.

  • Turn round times

    19 March 2009

    I think it is fascinating that we are starting to see the first newspaper articles heralding the death of stockmarket investing.

  • Turner Review: Aifa warn against stifling economic recovery

    18 March 2009

    The Association of Independent Financial Advisers has warned that an “overly robust regulator” could stifle an economic recovery.

  • Turner Review: AIMA pleased at Turner’s even-handed approach to hedge funds

    18 March 2009

    The Alternative Investment Management Association has praised Lord Turner for not making hedge funds a scapegoat in the banking crisis.

  • Turner Review: Consumer Panel says review ignores banks' TCF failings

    18 March 2009

    The Financial Services Consumer Panel has criticised the Turner Review for failing to address banks' "appalling" treatment of customers.

  • Turner Review: FSA considers BTL regulation

    18 March 2009

    The Turner Review says the FSA is considering regulating the buy-to-let market as well as second charge mortgages.

  • Turner Review: FSA says London will remain leading financial centre

    18 March 2009

    FSA chairman Lord Adair Turner claims the regulator’s crackdown on banks will not affect London’s standing as one of the world’s leading financial centres.

  • Turner Review: FSA says mortgage product cap plans are premature

    18 March 2009

    The FSA has set out its plans for the future of financial regulation in the UK by demanding more capital for banks but it says talk of a cap on mortgage products is “premature”.

  • Turner Review: FSA to clampdown on credit rating agencies

    18 March 2009

    The FSA is to take a supervisory role in limiting the conflicts of interest and inappropriate use of rating techniques made by credit rating agencies.

  • Turner Review: FSA to review use of structured finance ratings

    18 March 2009

    The FSA has called for a fundamental review of the use of structured finance ratings, noting their role played in the origins of the financial crisis.

  • Turner Review: New intrusive style will lead to fee hike for banks

    18 March 2009

    The FSA has revealed its new intrusive regulation of the banking sector will lead to a hike in its budget and lead to an increase in fees charged to firms.

  • Turner Review: Turner calls for European regulatory body

    18 March 2009

    Lord Turner has called for the creation of a European financial regulatory body, which will be responsible for the oversight of national supervisors.

  • Turner Review; FSA details banking crackdown

    18 March 2009

    The Turner Review has detailed plans to crackdown on UK banks’ off-balance sheet dealings by demanding huge capital requirements.

  • Turner says any cap on LTV mortgages must be a political decision

    23 March 2009

    Lord Adair Turner believes that any cap on LTV mortgages would be a decision for politicians rather than the regulator.

  • US Fed follows the UK with bond buy-up plan

    19 March 2009

    The US Federal Reserve has followed the lead of the Bank of England and pledged to by $300bn of Treasury bonds.

  • Vaccine values

    19 March 2009

    Last month, HSBC launched an innovative product that is a combination of financial investment and charity.

  • Ventus VCTs look to joint issue

    20 March 2009

    RAM Capital and Climate Change Capital are looking to raise up to £20m through a joint C-share issue for the Ventus and Ventus 2 venture capital trusts.

  • Warning over axing higher-rate relief

    19 March 2009

    The pension industry has warned the Government against any move to scrap higher-rate pension tax relief.

  • We need a regulator of the regulator

    19 March 2009

    I read with incredulity that the Association of British Insurers is warning against major regulatory changes. Do these people live on the same planet as the rest of us? How can the ABI possibly consider the FSA is not in need of major structural changes?

  • What's bruin?

    19 March 2009

    Seventy-two weeks in and the equity bear market is officially the worst since the Great Depression. The pace of decline compared with the previous worst bear market, which took 264 weeks, shows the depth of the slump. This is, after all, a balance sheet recession, not your average inventory-led downturn.

  • Witan appoints ex-Lehman director to board

    23 March 2009

    Witan has appointed Catherine Claydon as non-executive director to the board with immediate effect.

  • Wizard Learning launches AF5 exam package

    20 March 2009

    Wizard Learning has developed a practice exam package covering the advanced diploma subject AF5 financial planning process.

  • Woodford rules out banks for three years

    19 March 2009

    Invesco Perpetual income guru Neil Woodford believes banks are unlikely to become an attractive investment for the next three years.

  • Working relationship

    19 March 2009

    Financial education in the workplace is a niche market in which Fluent Independent Financial Advisers' brand has become well known.

  • XL puts UK and Irish life reinsurance businesses into run-off

    24 March 2009

    Insurance and reinsurance giant XL has announced plans to put its UK and Irish life businesses into run- off.

AXA Wealth

The Budget: What do people really know?


Fund Data

Editor's Pick



Poll

Do you think the idea of a single investment management charge could work in practice?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments