Money Marketing
18 May 2005
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Investment view
19 May 2005
Building a mix of assets is one thing but working out how many asset classes to include is a less easy call, says Brian Tora.
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A consumer's view - Lorna Bourke
19 May 2005
The mad rush to put residential property into a self-invested personal pension is already under way. Mortgage lenders and brokers report an increasing number of calls from interested investors, keen to know what the criteria of lending will be, what properties are likely to qualify, and how they go about it.
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ABI agrees new fees for for GPs
18 May 2005
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ABI draws up a dossier on FSA's failings
19 May 2005
The ABI is compiling a dossier of evidence on the FSA to push the regulator to revisit the costs of supervision and improve efficiency.
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Acting irrationally to boost US fund
19 May 2005
JP Morgan Fleming Asset Management believes an understanding of behavioural finance is key to outperforming the US market.
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Actuaries plan changes to transfer values
19 May 2005
The Actuarial Profession is planning to change the way pension transfer values are calculated.
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Aegon sales fall by 18% after commission cuts
19 May 2005
Aegon saw life and pension business slump by 18 per cent in the first quarter in what chief executive Otto Thoresen called a "volatile market".
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AMI's view
19 May 2005
Like an iceberg, the majority of the costs of mortgage regulation have been hidden from view as they have been swallowed up by internal considerations - IT, staff and management meetings, training, let alone opportunity cost. This is why the AMI has been on the front foot helping members to understand the implications of fee-charging and what a reasonable level of fee looks like.
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Analysts estimate UK's with-profits assets at 347bn
19 May 2005
UK life companies have combined with-profits assets of around 347bn, according to analysts at Nottingham University Business School.
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Argonauts set sail into European waters
19 May 2005
Argonaut, the boutique fund management arm of Britannic Asset Management, has introduced its first fund.
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Artemis moving into fixed interest
19 May 2005
Artemis is to enter the fixed-interest market with a strategic bond fund to be managed by former Isis managers James Foster and Alexandra Ralph.
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Ask the family
19 May 2005
Life cover for a family needs to keep pace with salary rises and to consider income options as well as lump sums.
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Axa and Aberdeen eye Framlington
18 May 2005
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Axa cuts life and CI cover rates
18 May 2005
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B&W to sell its branch network to Britannia Building Society
24 May 2005
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Baxter joins Axa offshore
19 May 2005
Irvine Baxter has joined Axa as head of offshore sales to expand the firm's reach to the IFA market.
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BM Solutions reduces fixed rates across BTL and self-cert ranges
24 May 2005
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Bond funds face hit if GM goes for Chapter 11
19 May 2005
Bond funds could be hit hard if General Motors files for Chapter 11, a method of gaining protection from creditors used in American law, says Artemis strategic bond fund manager James Foster.
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Britannic Asset Management - Britannic Argonaut European Alpha Fund
24 May 2005
Britannic Asset ManagementBritannic Argonaut European Alpha Fund
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Britannic gets full marks
23 May 2005
Britannic Asset ManagementArgonaut European Alpha Fund
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Britannic links with Argonaut
23 May 2005
Britannic Asset Management has introduced the Britannic Argonaut European alpha fund, a unit trust which will contain between 30 and 50 European stocks, excluding the UK.
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Brown moving to Schroders
19 May 2005
Schroders head of investment Richard Horlick is being replaced by Alan Brown of State Street Global Advisors.
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Buy Russian Oil and Cars Says Baring
23 May 2005
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Calculator fails to add up for menu
19 May 2005
Thousands of IFAs are unable to access the FSA's payment menu commission calculator with less than two weeks to go before the regulator's deadline.
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Can Henderson find road back to former glory?
19 May 2005
John Husselbee's departure as head of multi-manager at Henderson Global Investors has left IFAs and industry commentators reflecting on what the group has left to offer investors.
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Chelsea Building Society - Five Year Fixed Rate
20 May 2005
Chelsea Building SocietyFive Year Fixed Rate
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Cleary resigns from BBB board
18 May 2005
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Close Property Investment - Seventh Special Opportunities Fund
24 May 2005
Close Property InvestmentSeventh Special Opportunities Fund
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Commission can be better for pensions
19 May 2005
Axa's Simon Olive makes a strong case for advisers to move to a fee-based business model in the article, Fee spirit, (Money Marketing, May 5).
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Commodity bond no 4 from Dawnay Day Quantum
18 May 2005
Structured product provider Dawnay Day Quantum has created another issue of protected commodities accelerator, a guaranteed equity bond linked to a basket of eight industrial metals and energy-related commodities.
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Court rules Zifa must share missale liability with adviser
19 May 2005
A high court judge has ruled that marketing company Zurich IFA must share liability with an adviser because of inaccurate marketing material and false risk warnings on a collapsed investment product.
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Did ISL closure pave way for sale?
19 May 2005
SimplyBiz chairman Ken Davy says the closure of Bankhall's Investment Strategies Limited network in March could be connected with rationalising the Skandia-owned business ahead of a sale.
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Duffy on Mortgages
19 May 2005
Television coverage of the general election was riveting and my missus was not at all impressed when I crept into bed at 3am after promising at midnight to be there "in 10 minutes, luv". The dust now settled, I am, however, left with a stark sense of foreboding for our industry.
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Editorial: Backers show IFAP's worth
19 May 2005
With a clarity that must leave some trade bodies and advisers looking on enviously, IFA Promotion is to remain an organisation for independents alone.
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Euro property fund aims for 12%
19 May 2005
Newly formed investment boutique Tri Investments is setting up a European residential property fund aim- ing for an annual return of 12 per cent.
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Fatchett offers free test case against provider
19 May 2005
Law firm Financial Services Legal is offering to run a test case against a product provider on the basis of the Ockwell/Zifa judgment free of charge.
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Fidelity investments - Fidelity Sterling Bond Fund
23 May 2005
Fidelity investmentsFidelity Sterling Bond Fund
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Financial services salaries increase as candidate numbers fall in 2005
23 May 2005
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Firms set to switch from Neptune fund
18 May 2005
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Five million stay out of company pension plans
19 May 2005
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Five-year fixed switch pays off
19 May 2005
First-year savings from switching to a five-year fixed-rate mortgage have more than quadrupled over the last year.
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Flight appointed chairman of the EISA
23 May 2005
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Flight makes plea for return to the Tory fold
19 May 2005
Sacked Tory MP Howard Flight says the Conservatives will not be taken seriously again by the financial services community unless "business heavyweights" such as himself are returned to the fold.
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Fly First EIS plans take off
20 May 2005
Fly First is an enterprise investment scheme aiming to raise up to 25m to establish a new airline for business travellers flying between Luton airport and New Yorks Newark airport.
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Foreign Property Service Launches
24 May 2005
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Four more IFAs join Amex wrap service
19 May 2005
American Express Adviser Service has signed up another four IFA firms to its wrap service, taking the total to nine.
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Framlington wins smaller companies mandate at SEI
19 May 2005
US multi-manager SEI Investments has chosen Framlington to manage the smaller companies mandate on its SGMF SEI UK equity fund.
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FSA costs study gathers pace
23 May 2005
The FSA has appointed Deloitte to undertake a study to measure the costs of financial regulation.
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FSA finally calls for shorter KFIs
19 May 2005
The FSA is calling for shorter key facts illustrations in a letter sent to mortgage lenders this week and is also outlin- ing its concerns about the accuracy of initial disclosure documents.
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FSA sets review date for menu changes
18 May 2005
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FSA warns suitable advice on equity release risks is still not standard practice
24 May 2005
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Fund is Close to property returns
24 May 2005
Close Property Investment is looking to raise up to 10m for the 7th special opportunities fund, a limited partnership that is also available as an exempt unit trust
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Gartmore concentrates on euro stocks
20 May 2005
GartmoreGartmore Sicav Pan European Focus Fund
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Home in on FTBs
19 May 2005
A picture of the Government's true priorities is emerging and it is no surprise that housing remains a mainstream issue.
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Home reversion will be regulated by FSA
19 May 2005
Home reversion is to be regulated by the FSA, after an announcement in the Queen's Speech this week, putting it on an equal footing with lifetime mortgages.
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HSBC staff to strike on Friday over pay
24 May 2005
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IFAs can pay in instalments but FSA sets interest at 9%
19 May 2005
IFAs are "disgusted" at being charged interest at 9.1 per cent to pay their regulatory fees by instalments.
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IFAs unaware of regulatory returns
19 May 2005
The Society of Mortgage Professionals is raising concerns about IFAs' lack of awareness of new FSA regulatory returns reporting requirements.
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IFS to launch advanced Cemap in September
23 May 2005
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Independent view - Nicholas Conyers
19 May 2005
Any discussion between those born in Yorkshire or Scotland will include a lot of good banter. Typically, both accuse the other of, shall we say, being similar in their outlook towards their personal finances.
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Inertia brings NU contracting-in move
19 May 2005
Norwich Union is to contract back in its policyholders following a low response to a mailshot which suggested they consider doing so.
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It's about time we gave the CAB project a break
19 May 2005
I am usually calm and collected enough to read criticism, smile and get on with life but when the criticism is unfounded and based on a quarter of a story it pushes me far enough to feel the need to reply - I am referring to Alan Swaysland's letter in Money Marketing, May 5.
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It's my party and I'll rhyme if I want to
19 May 2005
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It's nothing personal
19 May 2005
From recent correspondence, it appears there may be a perception that I have a vendetta against John Ellis and I would like to set the matter straight once and for all.
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Jeremy Bradburne
19 May 2005
Lifetime's chief executive is a keen competitor on the classic car racing circuit and he aims to help the wrap platform become a driving force in the market.
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John Lawson on pensions
19 May 2005
Imagine reaching retirement to find 100,000 or more in tax deducted from your pension fund or accrued pension benefit. Then imagine that you subsequently discovered that you could have legitimately avoided this tax had you taken some simple steps a few years earlier. How would you feel?
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Johnston to grow Punter
19 May 2005
IFA dealmaker Paul Johnston has been appointed managing director of Punter Southall Financial Management with the role of expanding the business.
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Judge shocked that fraudster got a job as a mortgage adviser
19 May 2005
A judge has slammed a North east mortgage company for failing to carry out checks before taking on a financial adviser who had served three prison sentences for stealing.
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Julian Gibbs
19 May 2005
With the world economy stagnating, the outlook for shares in not particularly attractive. However, there are at least 50 excellent stockpicking fund managers who are likely to continue to outperform their respective markets.
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Keep A-Day on track
19 May 2005
Our panel say no delay for A-Day and assess the practicalities for investing residential property in Sipps.
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L&G appoints two new investment managers
24 May 2005
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Larter to join Penrose Financial
18 May 2005
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Legal & General - Accelerated Growth Investment Plan 2
23 May 2005
Legal & GeneralAccelerated Growth Investment Plan 2
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Letting go is hard to do
19 May 2005
Some IFAs are too attached to their investment role to consider outsourcing.
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Life office backers keep IFAP on independent path
19 May 2005
The 11 UK life and pension offices behind IFA Promotion have unanimously voted to keep IFAP promoting independent advice in the depolarised world.
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Lifetime chief calls for trade body for wraps
19 May 2005
The wrap industry needs a trade body to give it a voice in financial services policymaking, says Lifetime chief executive Jeremy Bradburne.
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Lighting a fire under phoenix companies
19 May 2005
Whispering phoenix firm into the average IFA's ear is a bit like chanting Roy Keane's name at Liverpool Football Club's AGM.
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Lockyer accuses Berry over failure of BBNFS
19 May 2005
Berkeley Berry Birch chief executive Cliff Lockyer has reignited the row over phoenixing allegations surrounding the closure of Berry Birch & Noble Financial Services. by blaming BBN founding director Derek Berry for his role in the subsidiary's collapse.
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Luck runs out
19 May 2005
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Making allowances
19 May 2005
Careful calculations are required to assess pension returns in the new regime.
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MBOs fuel private equity trusts
19 May 2005
Private equity investment trusts are trading at a prem- ium and managers in the sector are confident that management buyouts and flotations will drive growth this year.
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Millfield takes Advantage and Solent as its partners
19 May 2005
Millfield Partnerships has signed up Advantage and Solent as mortgage packaging partners for its sub-prime specialist lending arm.
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Mortgage arrears set to go on rising
19 May 2005
A surge in the levels of levels of mortgage arrears is set to continue, says NCI Resources.
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Multi-ties are an opportunity, not a threat
19 May 2005
Sadly, we have seen a significant reduction in the number of advisers over the past decade which has undoubtedly contri-buted to the increasing gaps that have emerged in savings, retirement plan-ning and more importantly, protection.
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Murray VCT4 to stay at Aberdeen
19 May 2005
Murray VCT 4 has decided not to move its management contract to Close Venture Management and is staying with Aberdeen Asset Management.
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Natwest launches new two-year fix remortgage deal
23 May 2005
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'No clear strategy on multi-ties'
19 May 2005
The financial services industry is sleepwalking towards the depolarisation deadline, says Alpha to Omega chief executive Stewart Wooles.
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Norfolk IFA jailed after £1m thefts for racehorse business
19 May 2005
A Norfolk IFA has been jailed for six years for stealing £1m from clients to fund a business buying and selling racehorses.
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Norwich Union - Norwich Manager of Manager Balanced fund
18 May 2005
Norwich UnionNorwich Manager of Manager Balanced Fund
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Norwich Union - Norwich Manager of Manager Growth Fund
18 May 2005
Norwich UnionNorwich Manager of Manager Growth Fund
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Nothing NU about admin standards
19 May 2005
My last words to one of our clients as I left a recent meeting were: "Now don't forget, Mr Client, we chose Norwich Union for the commercial property investment part of your portfolio because of the fund's strength and performance. Please remember that Norwich Union's administration is usually appalling and we can expect them to lose your cheque/application at least once, ha, ha."
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NU and partners manage the managers
19 May 2005
Norwich Union has enhanced its fund range by introducing four manager of manager Oeic funds that are also available through the companys life products.
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NU launches new online tool
24 May 2005
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NU's Mom suite will feature 12 managers
19 May 2005
Norwich Union's manager of managers' suite, set to launch this month, will include mandates run by the fund arms of rival life offices including Aegon and Standard Life.
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O&M launches new IFA pension profiler
23 May 2005
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Old Mut gambles on Skandia bid
19 May 2005
Old Mutual is in talks to buy Skandia for 3.3bn, prompting speculation about a break-up of the Swedish insurer.
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One supermarket could check out
19 May 2005
Old Mutual would be unlikely to keep two fund supermarkets if it buys Skandia, says Financial Technology Research Centre director Ian McKenna.
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Out of context
19 May 2005
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'Pay more attention to losses'
19 May 2005
Multi-managers should focus on the maximum losses suffered by funds in their portfolios to best manage risk, says Dutch multi-manager Insinger de Beaufort.
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Pensions at a junction on discrimination - Keith Popplewell
19 May 2005
Following my earlier articles relating to pensions for homosexuals and transsexuals, I have had a number of readers contact me to ask on what information my articles were based. So, as an interlude to my current series on recent and imminent developments in the pension world, this piece looks back over the history.
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Platform leaves tracks in self cert market
18 May 2005
PlatformSelf-Certification Three-Year Fixed Rate
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Platinum brings in new managers to meet demand
19 May 2005
Platinum Capital Management is adding four hedge fund managers to its Platinum premier fund but says it is not marketing the product as a multi-manager fund.
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Prestbury opens up club to DA firms
19 May 2005
Prestbury has opened its mortgage club to directly authorised firms and claims the move will double its revenue over the next year.
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Protection sales slide at Swiss Re
18 May 2005
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Pru slashes rates for CIC and life insurance
18 May 2005
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Purely Mortgages to offer fee from June 1
23 May 2005
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Putting gains on hold - Tony Wickenden
19 May 2005
I was talking last week about the "lurking impediment" to the making of lifetime gifts. That impediment is capital gains tax.
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Regulator refuses to check company's disclosure documents
19 May 2005
An IFA firm has described its disappointment at the "unhelpful" and "irrational" nature of the FSA in refusing to vet its disclosure documents to confirm compliance.
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Scheme aims to engage the public with IFA sector
19 May 2005
Alan Swaysland's letter on "Free PFS advice service helping the wrong client" (Money Marketing, May 5) throws an interesting light on the approach of some IFAs to trying to engage more customers with the IFA sector. What was known as the "CAB/Sofa" scheme has been inherited by the PFS. I have attended one session of the steering group which is overseeing this service. It is a pilot scheme and a report is due this year. Only then will it be possible to make an assessment of the success ...
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ScotEq Intl warns of tax-free dangers
19 May 2005
IFAs must warn their clients of the threat of inheritance tax on supposed tax-free savings vehicles, cautions Scottish Equitable International.
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Scottish Widows - Guaranteed Investment Bond
20 May 2005
Scottish WidowsGuaranteed Investment Bond
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Sipp rentals to hit 8%
19 May 2005
The rental charge for unconventional Sipp investments such as paintings and antiques is likely to be as high as 8 per cent, says Hornbuckle Mitchell director Neil Marsh.
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Skandia directors told to re-apply for jobs
19 May 2005
Skandia's nine top UK sales directors have been told that they will have to re-apply for only three jobs in the same week that Old Mutual announced it wants to buy the company.
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Spanish inquisition
19 May 2005
A couple were referred to us by a local independent mortgage broker. They were in the process of raising a mortgage on their UK home to buy a euro 250,000 villa in Spain and had asked about the tax issues.
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Spelling out
19 May 2005
The Government is being called on to publish the full pension simplification rules and end the uncertainty that is stifling planning by the industry, says Xansa head of financial services James Doyle.
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Standard ringfences £2bn in offshore property duo
19 May 2005
Standard Life Investments is closing two specialist offshore property funds, which are now fully invested across £2.3bn assets previously held in its life fund.
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Strength in adversity
19 May 2005
It was not long ago that anyone with an adverse credit record was thrown into the financial wilderness because mainstream lenders did not cater for them.
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Survey reveals little faith in pension compulsion
19 May 2005
Nearly three-quarters of pension professionals do not believe compulsion is a workable solution, says Origen.
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Swedish giant fell from crest of a market wave
19 May 2005
Old Mutual's bid to buy Skandia comes after a five-year period that has seen boardroom controversy and falling markets wipe 90 per cent off the value of the Swedish company.
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Tenet launches annuity bureau
18 May 2005
Tenet is launching an annuity bureau, running alongside its transfer bureau, and the network says the one-stop shop will save IFAs up to five hours per case.
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Tenet networks take over at top of league
19 May 2005
Tenet networks have taken over from Berkeley as the most popular network with members, according to research by Henry Samuels Marketing Services.
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The root of the problem
19 May 2005
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Two new board members at St James's
18 May 2005
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UCB Home Loans - Self-Certification 2 Year Flexible Fixed
19 May 2005
UCB Home LoansSelf-Certification 2 Year Flexible Fixed
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Vertex acquires Marlborough Stirling
18 May 2005
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Warning on pension penalty
19 May 2005
A pensioner has been hit by a 20 per cent market value reduction because his adviser applied for funds two days before his normal retirement date.
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Watch this space on designations
19 May 2005
May I express my thanks to all those readers who have written to me in response to my letter (Money Marketing, April 28) concerning the designations the PFS is seeking to impose on its members.
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Watchdog blundered with probe over PHI
19 May 2005
A botched Financial Ombudsman Service investigation into an IFA firm has exposed worrying levels of confusion among the watchdog's front-line staff, says a Croydon IFA.
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Winterthur Life - Self Invested Personal Pension
19 May 2005
Winterthur LifeSelf Invested Personal Pension
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Winterthur launches discounted gift trust
24 May 2005
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Women IFAs offer lifestyle planning
19 May 2005
A million UK businesses are owned by women, contributing over 115bn to the economy and expanding the need for female-focused financial advice, says new IFA firm Elements.
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Woolwich pays stamp duty with FTBs' cashback
19 May 2005
Woolwich is aiming at first-time buyers with a new suite of products after its research suggested that the sector is faltering.
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Zurich hedges its distribution bets
19 May 2005
With many advisers and providers hesitating before making any call on depolarisation, Zurich has positioned itself across all distribution channels to hedge its bets.
