Money Marketing
19 August 2010
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A fee lesson
19 August 2010
I have to add a supporting comment to last week’s article. Our experience is very similar to Dennis Hall’s. We started to charge fees as far back as the mid-1990s but segmented the client base and introduced time-based charges and retainers in 2005. We have had to modify the charging structure several times as well and have just been through a price increase.
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Aberdeen's Duce defends performance fees
20 Aug 2010
Aberdeen Asset Management multi-manager Graham Duce has defended performance fees.
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Adviser Fund Index
19 August 2010
Large property funds, including those run by Aviva and M&G, have begun increasing their exposure to the British market. Aviva property trust manager Philip Nell has about half the fund in British retail properties. The M&G property portfolio has invested a further 7 per cent in properties with high yields in anticipation that rents will stabilise.
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Advisers say transfer ban will be disaster
19 Aug 2010
Advisers hit out at Government plans to stop the majority of people from transferring from DB to DC.
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Aldermore offers LTV of 80% for FTBs
19 August 2010
Aldermore is now lending to first-time buyers, with a maximum loan to value of 80 per cent.
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Ashcourt Rowan linked with Co-op bid
19 Aug 2010
Wealth management firm Ashcourt Rowan is understood to be circling Co-operative Financial Services’ IFA arm.
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Axe lifetime allowance
19 August 2010
The Government has said that it needs to maintain a certain tax take in respect of pension contributions. This is entirely reasonable.
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Boulger hits out at lenders over heavy footprints marring credit
19 August 2010
John Charcol senior technical manager Ray Boulger has slam-med lenders for leaving damaging footprints on customers’ credit records when making a mortgage enquiry and believes this approach flouts FSA rules.
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Buoyant Standard plans fund developments
19 August 2010
Standard Life is to launch a new fund proposition, encompassing a guided fund range and a range of risk-based funds.
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Check on DFMs' use of alternatives
19 August 2010
Advisers need to do thorough due diligence on discretionary fund managers and their use of alternative investments, warns Defaqto.
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CML may still be over-optimistic on lending figures
20 Aug 2010
Experts have warned that the Council of Mortgage Lenders’ downgraded forecast for gross lending of £140bn for 2010 may still be over-optimistic.
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CML slashes its forecasts for lending
19 August 2010
The Council of Mortgage Lenders has reduced its gross lending forecast for 2010, predicting it will remain relatively flat this year at £140bn, compared with £143bn in gross advances lent last year.
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Company policies
23 Aug 2010
There have been considerable changes to tax treatment of company-owned investment life insurance policies
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CPI drops to 3.1% but still above target
19 August 2010
The consumer price index inflation dropped to 3.1 per cent in July, down from 3.2 per cent in June. The retail price index fell from 5 per cent to 4.8 per cent.
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Critical war switches to ABI+ battle
20 Aug 2010
The race among insurers to offer the biggest number of critical-illness conditions has been replaced by increasing competition to offer the most ABI+ definitions, according to Defaqto.
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'Direct is the only way to close the gap'
19 August 2010
The only way the industry can hope to tackle the protection gap is through direct channels, according to Defaqto.
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Draw up the rules of engagement
20 Aug 2010
Mark Penton calls for the CPMA to have a responsibility to redress the supply-demand regulatory imbalance by boosting consumers’ involvement in financial services
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Drop lock out the charges
20 Aug 2010
If I were a borrower seeking a nice low tracker but with an eye on base rate rises, a drop lock would be very appealing
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Ethical Partnership balances SRI Fof
19 August 2010
The Ethical Partnership has established a balanced unit-linked socially responsible fund of funds for Merchant Investors’ product range and will add an adventurous portfolio later in the year.
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Ex-Life Trust chief looks to buy up firms
19 Aug 2010
Andy Briscoe has secured private equity backing to fund acquisitions, potentially in the distribution space.
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Fidelity to shut windfall Isas
19 Aug 2010
Fidelity is to close its windfall Isa scheme after the number of accounts dropped to 34,000.
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Fighting talk on a united voice
19 August 2010
THE EDITOR’S COMMENT OF THE WEEK
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FSA cost of RDR set to pass £3m
19 Aug 2010
The FSA has spent £2.95m so far on development of the retail distribution review.
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FSA fines brokers £200k for fraud
19 August 2010
The FSA has fined two insurance brokers a total of £200,000 for insurance fraud and banned five individuals for failings relating to insurance fraud.
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FSA warns over broker's sale and rentback business
19 August 2010
The FSA has warned consumers that sole trader Mark Ainley may have advised clients into sale and rentback contracts without having the correct authorisation to do so.
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FSA's failure to clarify RDR is wasting time and effort
19 August 2010
The FSA has been accused of wasting the protection industry’s time due to lack of clarity about how much of the RDR will apply to protection.
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Fund firms leave Capita after Arch Cru collapse
19 August 2010
Several fund managers have transferred away from Capita Financial Managers as authorised corporate directors after the Arch Cru debacle.
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Gartmore hit as half-year outflows double to £1.65bn
19 August 2010
Gartmore suffered net outflows of £1.65bn for the first half of the year, more than double its net outflows over the same period last year.
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GI sale could leave Aviva vulnerable
19 Aug 2010
Fitch says Avia’s life business would be vulnerable to a takeover and Solvency II risks if it sold its general insurance arm.
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Gold blend for McQuaker
23 Aug 2010
What is it about Scotsmen that make them good fund managers? Some might say it is something to do with their parsimonious nature, which means they don’t overpay for assets.
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Hawksmoor opts for gold shares over direct holdings
19 August 2010
Hawksmoor Investment management’s multi-manager team has chosen funds investing in gold shares over those with direct exposure to the asset class.
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Henderson duo build up FTSE downside protection
20 Aug 2010
Harris and Heron believe FTSE 100 is set to hit 4,800 in the next couple of months.
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Higher-rate tax relief could be doomed
23 Aug 2010
John Greenwood says the new annual allowance is not the end of the road for the higher-rate tax relief debate.
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Ignis makes first move into tech with global fund offer
19 Aug 2010
Ignis Asset Management is to launch a global technology fund under the management of Geoff Paton.
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Impax moves to close environmental fund
19 August 2010
Impax has applied to the FSA to close its £7.6m environmental leaders fund after it has been awarded another mandate by Skandia. It expects the closure to complete on October 7.
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Insight out of focus
23 Aug 2010
John Kenchington reports on a multi-asset fund range that puts the emphasis on caution
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Intrinsic's Higginson could join Carby venture
19 Aug 2010
Group marketing director is leaving the network and is thought to be planning to take up a role with Keith Carby’s new venture, Wilmslow Wealth.
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IoD makes plea for auto-enrol exemption for small companies
19 August 2010
The Institute of Directors has warned that the current plans for implementing auto-enrolment are too tough and is calling for firms with fewer than five employees to be exempt.
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It's not plain sailing for protection
20 Aug 2010
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Julian Stevens
23 Aug 2010
One of the most outspoken and trenchant IFA critics of the FSA has managed to avoid the regulator’s ’Swat team’ so far and after the RDR is aiming to passport into the UK through a European regulator.
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Keep capital adequacy simple
20 Aug 2010
Bruce Wilson says the FSA must not overcomplicate capital adequacy rules
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Keeping retirement flexible
25 Aug 2010
The latest annual LV= State of Retirement report provides new insight into the first few years of people’s retirement. Some of the conclusions are not only startling, but could have profound implications for advisers, and the way they consider financial advice for their clients approaching retirement.
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Keydata investors site taken offline
19 August 2010
A website for investorswho suffered losses in the Keydata collapse has been taken offline after Keydata founder Stewart Ford’s lawyers contacted its internet service provider to complain about “highly offensive allegations” posted by members.
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L&G and Aviva top for IFA choice but low on service
19 August 2010
Legal & General and Aviva top the latest Defaqto list of IFAs’ preferred protection providers but are also among the firms with the worst satisfaction rating.
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Legal threat could hit Nest
19 August 2010
Independent pension analyst Ros Altmann has warned of a future risk of litigation if the Government auto-enrols all workers into the National Savings and Employment Trust.
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Light up the industry
24 Aug 2010
Make some time to get involved in industry activities
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Losses for adviser firms as Aegon profits rise 25%
19 August 2010
Positive Solutions and Origen continued to run at a loss in the second quarter this year although parent company Aegon has reported a 25 per cent increase in underlying earnings before tax.
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Low level of advice skills at the FSA
19 Aug 2010
Less than half the small firms division have a full financial or mortgage advice qualification at QCF Level three and only 17 have QCF level four.
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M&G stays in lead with £2.25bn inflow
19 August 2010
M&G has topped the gross retail sales rankings for the second quarter with new investments of £2.25bn, according to the latest Lipper UK Fundflash.
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Macquarie wrap rethink
19 August 2010
Macquarie is offering a range of new features for its wrap, including improved uploading of client assets and the ability to monitor and manage clients’ model portfolios.
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Margin calls
20 Aug 2010
Paul Thomas reports on why banks have decided to widen the margins on their mortgage products
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MM Leader: Scrap this unfair ban on transfers
19 Aug 2010
The coalition Government has proposed a simplistic outcome that will unfairly restrict the pension rights of many.
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MP calls Sants to Commons to explain FSA's Keydata role
19 August 2010
Government whip Chloe Smith has demanded a meeting with FSA chief executive Hector Sants over the collapse of Keydata.
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Nervous system
23 Aug 2010
“What days like Wednesday last week demonstrate is that investors are still nervous and that safe havens are hard to find.”
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Nucleus appoints wrap director
19 August 2010
Nucleus has recruited former Standard Life senior manager of platform investments Jeff Spence as wrap operations director.
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Open market annuity service set up
19 August 2010
Fair Investment Company has partnered with The Annuity Team to offer its customers a new open market option annuity service.
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Out of context
19 August 2010
“I rocked the director dance-off.”
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Paradigm halves loss and aims to double advisers
19 Aug 2010
Paradigm Partners is planning to double the size of its IFA network, Paradigm Financial Advisers, from 200 to 400 by the end of the year.
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Pension firms struggling to deliver annuity change by April
19 Aug 2010
Suffolk Life marketing director John Moret says pension providers will struggle to update their systems to implement permanent changes to annuity legislation by the April 2011 deadline.
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Private providers can't fill Nest gap warns ABI
19 August 2010
The Association of British Insurers says it is unlikely that providers could fill the gap if the National Employment Savings Trust does not go ahead, even if auto-enrolment parameters were restricted.
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Pru chief says UK is still heart of the business
19 August 2010
Prudential insists it is not in talks with any companies looking to snap up its UK business, adding that the arm continues to be core to the group.
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Rates of change
23 Aug 2010
Interest-only borrowers face a tough test when they come to remortgaging
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Rating company slams 'redundant funds'
20 Aug 2010
Morningstar has issued a warning on sector-specific and region-specific funds.
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Regulator tells public to check Wise Owl cover
19 August 2010
The FSA has revealed that brokerage Wise Owl Services Limited is no longer permitted to conduct insurance and mortgage activity.
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Revenue income validation scheme set for autumn start
20 Aug 2010
HMRC is in advanced talks with the Council of Mortgage Lenders about introducing a scheme that allows lenders to verify income.
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Run could go on
19 August 2010
Fluctuations between investor optimism and pessimism have rarely been greater than in recent months. Only a matter of weeks ago, world equity markets were plumbing new 2010 lows and the talk was of still worse to come over the summer.
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Scales of justice
24 Aug 2010
Alan Lakey says the Parliamentary Ombudsman is shackled while the FOS can ignore statute.
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'See renting as a positive choice'
19 August 2010
The Chartered Institute of Housing has warned that the “golden age of homeownership” is over and urged policymakers to do more to help consu-mers see renting as a positive choice.
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Sesame Bankhall back in profit
19 August 2010
The Sesame Bankhall Group has posted operating profits of £2m for the first six months of 2010 compared with a loss of £2m for the same period last year.
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Sesame Bankhall will look at loaded premiums
20 Aug 2010
Firm would not rule out negotiating loaded premiums for its advisers.
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SJP offers £1.8m payout to investors in Carron firms
19 August 2010
St James’s Place has offered a £1.8m package of compensation to investors who lost money when former senior partner Peter Carron advised them to invest in his own businesses.
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Skipton withdraws two-year deals over service concerns
20 Aug 2010
Service concerns prompt Skipton to withdraw two-year deals after five weeks.
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The great migration
23 Aug 2010
In the next 40 years, the staggering total of over 400 million people will move from the country to the city in China
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Throw yourself into the RDR
18 Aug 2010
Simon Chamberlain says advisers must not waste any more time and start making the right preparations for the RDR.
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'Watchdog has no grasp of pension-sharing rules'
19 Aug 2010
Pensions adviser Richard Jacobs has accused the Pensions Ombudsman of having a “complete lack of understanding” of the rules governing pension sharing.
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What software helps you find your platform match?
24 Aug 2010
Ian McKenna assesses the software available to help IFAs seek out the best platforms for their needs.
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Why is Aifa opening up to restricted option?
19 Aug 2010
Nic Cicutti says Aifa’s positive view on restricted advice is driven by commercial considerations.
