Money Marketing
19 January 2005
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16 IFA firms in default
20 Jan 2005
Sixteen IFA firms have been declared in default of the Financial Services Compensation Scheme.
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700k claims loom as two firms default
20 Jan 2005
Whitechurch Investment Services and Oaktree Financial Services have both been declared in default by the Financial Services Compensation Scheme.
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A hole in whole-of-life cover
20 Jan 2005
Why do I believe whole-of-life cover is inappropriate for any need other than IHT planning? Well, in practice, the majority do not do what they say on the tin - they do not last for the whole of the client's life.
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A scrum of two halves
20 Jan 2005
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A&L launches three new mortgage deals
24 Jan 2005
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ABI move to set up loan scheme to pay FSCS levy
20 Jan 2005
The ABI is believed to be in talks with the FSA over a loan sch-eme to enable IFAs to pay Fin-ancial Services Compensation Scheme fees in instalments.The ABI is negotiating with the FSA over establishing a loan service that intermediaries can dip into to pay the FSCS levy.
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Actuaries give guidance on equity release
20 Jan 2005
Actuaries have set out a seven-step plan for consumers considering equity release.
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AIFA's view - Fay Goddard
20 Jan 2005
Back after the break and FSA regulation of general insurance was almost upon us. Firms had just days in which to ensure they were compliant with the new rules.
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Amber launches new range of products
20 Jan 2005
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Amex signs up four more IFAs
20 Jan 2005
American Express Financial Services Europe has signed up four new IFAs for its wrap service.
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Aviva moves to embedded value
20 Jan 2005
Aviva will report its preliminary corporate results under the European embedded value principles instead of on an achieved profit basis for the first time this March.
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AWD closing in on Chase de Vere deal
20 Jan 2005
Bank of Ireland is reckoned to be on the brink of selling Chase de Vere Financial Solutions to AWD for around 15m.
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Axa Investment Managers picks Maddock to lift sales
20 Jan 2005
Axa Investment Managers has appointed Tony Maddock as its director of retail sales.
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Axa opens protection account to Sesame members
20 Jan 2005
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B&B halves mortgage panel to 25 lenders
20 Jan 2005
Bradford & Bingley is setting up a new mortgage broking proposition with a panel of 25 lenders, half the number of lenders previously offered to its advisers.
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Bank sets up Shari'ah loan for Scotland
20 Jan 2005
United National Bank is offering what it says is Scotland's first Shari'ah-compliant mortgage.
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Batten regroups Network 300 board to end wrangle
20 Jan 2005
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Borrowers set for boost as lenders get ready to react to base rate reductions
20 Jan 2005
The Bank of England base rate is likely to fall in the coming months, sparking intense competition between mortgage lenders that will leave borrowers spoilt for choice, says Charcol.
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Bright Grey cuts rates on life and CI cover
20 Jan 2005
Bright Grey has reduced its life and critical illness cover rates despite reports that general insurance regulation may be having an adverse affect on protection rates.
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Bristol & West Mortgages - Self Cert Three Year Discount
24 Jan 2005
Bristol & West MortgagesSelf Cert Three Year Discount
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Britannia International calls on index duo
19 Jan 2005
Britannia International has unveiled the guaranteed income and growth bond, a combination of a high interest account and a guaranteed equity bond. It is available to investors with at least 10,000.
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Britannia signs another soccer savings deal
20 Jan 2005
Britannia Building Society has unveiled a partnership with Manchester City Football Club to offer savings accounts for supporters.
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Chapter and adverse from Chelsea
25 Jan 2005
Chelsea Building SocietyProspect 2 Year Fixed Rate
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Chasers ignore the answers
20 Jan 2005
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Citisolutions grounds 2,000 staff
20 Jan 2005
Citisolutions has been forced to stop 2,000 members of its salesforce doing business after failing to get sufficient training and register in time for FSA regulation of general insurance.
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Clerical's McAra cleans up his act
20 Jan 2005
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CML says house prices are set for soft landing
20 Jan 2005
The housing market is heading for a soft landing rather than a 1990s' style crash, says the Council of Mortgage Lenders.
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Cofunds replaces Andrews
20 Jan 2005
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Cornish IFA sets up firm after lenders put the block on mundic mortgages
20 Jan 2005
A Cornwall IFA has set up a firm to provide loans on homes built of the substance mundic shunned by mainstream lenders.
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Correspondent's Week
20 Jan 2005
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Dawnay Day Quantum - Protected Commodities Accelerator II
20 Jan 2005
Dawnay Day QuantumProtected Commodities Accelerator II
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Day is dawning for commodities
24 Jan 2005
Structured product provider Dawnay Day Quantum has created another issue of protected commodities accelerator, capital-protected bond linked to a basket of eight industrial metals and energy-related commodities for a four-year term.
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Deposit account is top choice for CTF parents
20 Jan 2005
Parents are more likely to invest their child trust fund in a deposit-based account as opposed to more long-term investment alternatives, acc-ording to research by the ABI.
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Derbyshire expands its mortgage services
25 Jan 2005
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Dish of the day
20 Jan 2005
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Downing Corporate Finance - Aim Distribution Trust
21 Jan 2005
Downing Corporate FinanceAim Distribution Trust
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Downing tops up
21 Jan 2005
Downing Corporate Finance is raising up to 1.104m for a top-up share issue of the Aim distribution trust. This is a venture capital trust which focuses on companies listed on the Alternative investment market.
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Duffy on Mortgages
20 Jan 2005
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Emerging sector running out of steam
20 Jan 2005
Schroders believes that recent strong performance in emerging markets equities may be about to run out of steam.
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Equinox Capital Management - Equinox VCT
19 Jan 2005
Equinox Capital ManagementEquinox VCT
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Ethical Financial advisers quizzed over commission
20 Jan 2005
Creditors of Ethical Financial - the socially responsible inv-estment vehicle which closed its doors with potential investor losses of 1m - are quizzing advisers of the firm over commission payments.
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Eurolife could face legal threat as 17m bond losses crystallise
20 Jan 2005
An IFA action group could be set up to start legal action for investors in the Eurolife secured bond which is set to mature next week with investors losing around 17m.
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Events Calendar
20 Jan 2005
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F&C Asset Managment launches commercial property trust
19 Jan 2005
F&C Asset Management is launching a 1bn UK commercial property trust targeting a 6 per cent return next month.
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Farrow's view
20 Jan 2005
It was of little surprise that the split-capital investment trust settlement was finally agreed on Christmas Eve - it seemed destined to be that way.
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Fay Goddard
20 Jan 2005
Aifa's acting director general is renowned in the industry for her ability to understand and explain highly complex technical issues and she is aiming to use that in a bid to reduce the EU burden on IFAs and ease the cost shock of levies.
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Fly me to the moon, or Jupiter
20 Jan 2005
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Friends signs protection tie deal with Pink
24 Jan 2005
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FSA bans financial adviser
25 Jan 2005
The FSA has banned a senior partner from The Michael Harding Partnership from holding approved person status.
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FSA looks for 'quick wins' to allay fears on education
20 Jan 2005
The FSA is hoping to score "quick wins" to convince consumers that its financial education plans have not stalled.
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FSA's annual financial outlook says firms must take heed
19 Jan 2005
The FSA is urging customers to make long-term financial plans and warning firms to keep a close eye on their marketing material.
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GE offering annuity cash guarantee
20 Jan 2005
GE Life is offering 100 compensation to clients who do not get their tax-free annuity cash payment promptly.
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Get on top of top-slicing
20 Jan 2005
I am revisiting an old topic that still causes uncertainty, namely a comparison of the top-slicing position, where a client has gains under a single-premium bond effected with a UK resident insurer, compared with a bond effected with an offshore provider. I will also look at the position where a client has gains which are liable to capital gains tax in the same tax year.
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GMAC-RFC announces Hope Foundation charity
19 Jan 2005
GMAC-RFC has announced the worldwide launch of a charitable foundation specifically aimed at preventing repossession.
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Govt looks at £2bn rise in contracting-out rebate
20 Jan 2005
The Government is looking at a £2bn increase in the contracting-out rebate to prime private saving as an alternative to a citizen's pension.
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Graham Berville becomes chairman of the Industry Standards Group
19 Jan 2005
Police Mutual Assurance Society chief executive Graham Berville has become the new chairman of the Industry Standards Group, the body responsible for setting Raising Standards criteria.
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Help the children of the tsunami
20 Jan 2005
The events of Boxing Day morning in Asia brought a disaster of unimaginable proportions which has directly touched the lives of countless people in Asia and around the world.
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House moves
20 Jan 2005
As the major political parties begin to gear themselves up for the next general election - widely expected in May - it seems financial services issues will be high on the agenda.
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How to benefit from the DNS
20 Jan 2005
It was good to see that January 14 came and went and the world didn't end - the relief felt was similar to that of the millennium bug when it failed to mat-erialise. Of course, with something like regulation, D-Day isn't the end of the story. Now's the time when we have to start changing the way we work and real-ise where the potential regulation minefields are.
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How will Derek's dominos fall?
20 Jan 2005
Derek is about to move abroad for a few years and expects to be non-resident for UK tax purposes. One of his concerns is that he has a with-profits bond that has a big gain on it.
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I-funds opening up ETFs to IFA market
20 Jan 2005
i-Funds, a franchise of Raymond James Investment Services, is awaiting FSA approval for a fund of exchange-traded funds aimed at IFAs.
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In or out or shake it all about?
20 Jan 2005
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Independent view - Peter Hargreaves
20 Jan 2005
I am sure that other brokers, product providers and IFAs will be in the same boat as Hargreaves Lansdown. The amount of time, effort and cost involved in verifying a client's identity is nothing less than seriously onerous. Let me state here that we take money laundering seriously and adhere strictly to the rules.
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Ingenious idea for bond fund
25 Jan 2005
Ingenious Asset Management has established the Ingenious directional bond fund. This is a Dublin based Oeic that takes advantage of the greater flexibility in the use of derivatives in provided by the Ucits III legislation.
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Insight cautious on growth
20 Jan 2005
Insight Investment's multi-manager team believes that earnings from global equity markets will grow by less than other analysts have predicted.
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Invesco adds to Asian team
20 Jan 2005
Invesco Perpetual has added Ian Hargreaves and Stephanie Wu to its Asian equities team.
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Investment view
20 Jan 2005
Last year's big - and pleasant - surprise was the resilience of the bond market, says Brian Tora.
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Julian Gibbs
20 Jan 2005
I do not often write about conservative funds but, in markets like these, that is what the average middleaged Isa investor wants.
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Jupiter plans starring role for Sipp in savings sector
20 Jan 2005
Jupiter Unit Trust Managers is aiming to increase its Sipp business as it looks to meet the dem-ands of improving the UK's savings dilemma.
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Jupiter stays small to keep on fast track
20 Jan 2005
While other fund management groups are seeking to consolidate and expand, for Jupiter Unit Trust Managers small is beautiful.
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L&G pass 100bn corporate pensions milestone
25 Jan 2005
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Landlord returns over 30 per cent in 2004 says Paragon
19 Jan 2005
Paragon Mortgages' buy to let index for January 2005 shows landlords earning total annual returns of over 31 per cent in the year ended December 31 2004.
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Laying the foundation for an IFA brand
20 Jan 2005
IFAs can take on the banks by developing a strong brand image of their own, says SPS M&C director Simon Parker.
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Lazard Omega fund throws off constraints
20 Jan 2005
Lazard is setting up a more concentrated and less benchmarkconstrained best ideas version of its top-selling UK Alpha fund.
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Lenders ending free ASU and MPPI as regulation costs bite
20 Jan 2005
Mortgage lenders are withdrawing free ASU and MPPI protection in response to the mounting costs of general insurance regulation.
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Man grows hedge fund stable
20 Jan 2005
Man Investments has established Man Glenwood equity opportunities, a multi-manager fund of hedge funds that offers exposure to hedge fund managers specialising in long and short equity strategies.
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Man Investments - Man Glenwood Equity Opportunities
25 Jan 2005
Man Investments Man Glenwood Equity Opportunities
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Massive cost of Sipp buy-to-let
20 Jan 2005
Investors holding buy-to-let properties in Sipps could cost the Government £4bn, the equivalent of a 1p rise in income taxIf just 10 per cent of BTL investors move their properties into Sipps, the cost of tax relief on these properties will severely dent Treasury cashflow, warns Standard Life senior technical manager John Lawson.
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Mortgage Express - Max 130 Two Year Discount
19 Jan 2005
Mortgage ExpressMax 130 Two Year Discount
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Mortgage Express takes it to the Max with homeloan up to 130%
20 Jan 2005
Mortgage Express is offering Max 130, a product which enables homebuyers to borrow up to 130 per cent of their property value with no higher lending charge.
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Multi-manager view
20 Jan 2005
2004 did not quite live up to expectations. Growth in the US was fine but the embers of recovery in Europe failed to ignite while the upturn in Japan remained one more of promise than delivery.
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NAB launches offset mortgage range through Clydesdale
25 Jan 2005
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Nationwide - Five Year Fixed Rate Mortgage
25 Jan 2005
NationwideFive Year Fixed Rate Mortgage
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Nationwide scraps initial fund charges
20 Jan 2005
Nationwide is revamping its fund range by scrapping initial charges, increasing annual charges and lowering the minimum monthly investment to 20.
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Neighbourhood watch
20 Jan 2005
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New approach needed on products for older people
20 Jan 2005
Financial services providers are taking older customers for granted, says a report from Datamonitor.
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New chief executive for RREV
20 Jan 2005
Timothy Sawyer has been app-ointed chief executive of Res-earch, Recommendations and Electronic Voting, the corporate governance, research and voting service set up by the NAPF and Institutional Shareholders Services.
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New lease of life for BTL despite void problems
20 Jan 2005
Nearly a fifth of landlords had to subsidise their mortgage payments last year, with rent not covering the full amount.
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Newcastle bond can rise if FTSE falls
20 Jan 2005
Newcastle Building Society is offering a bond with returns linked to the FTSE 100 which can deliver better returns if the market falls.
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Norwich Union lowers term cover rates by 3%
20 Jan 2005
Norwich Union has cut premiums on stand-alone term insurance by an average of 3 per cent.
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NU cuts annual bonus payments on closed with-profits pension funds
19 Jan 2005
Norwich Union has cut annual bonus payments on its closed with-profits pension funds by 25 per cent.
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NU in pledge on tsunami payouts
20 Jan 2005
Norwich Union has confirmed that life insurance payouts for policyholders killed by the tsunami tragedy will not be subject to the seven-year legal rule if a body cannot be found.
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Nvesta - Rangemaster Income Plan
20 Jan 2005
NvestaRangemaster Income Plan
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Nvesta's home on the range
20 Jan 2005
NvestaRangemaster Income Plan
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Only pre-1989 DB schemes can crack 1.5m limit
20 Jan 2005
The Inland Revenue has confirmed that only pre-1989 defined-benefit scheme members will be allowed to build up pension pots in excess of the 1.5 lifetime limit without incurring penalties.
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Openwork to single-tie to Prudential annuities from launch
24 Jan 2005
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Out of context
20 Jan 2005
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Paragon Mortgages - Buy To Let 2 Year Discounted Tracker
24 Jan 2005
Paragon MortgagesBuy To Let 2 Year Discounted Tracker
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Parents split over child fund future
20 Jan 2005
Parents are split over the introduction of child trust funds, with 44 per cent saying they are encouraged to save more while half say it will make no difference to them.
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Personal touch from Skandia Sipp
24 Jan 2005
Skandia Skandia Sipp
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Professional indemnity edge: Alan Harris
20 Jan 2005
In November 2002, my PI insurance renewal application was declined by the Markel syndicate at Lloyd's because, in their view, the premium and excess they would require would be uneconomical for the size of my firm.
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Professional indemnity edge: Anthony Howe
20 Jan 2005
Early last summer, when capacity was beginning to reenter the PI market, Collegiate and no doubt other brokers were looking to persuade firms with waivers to consider reentry to the market, taking advantage of the less prescriptive rules laid down by the FSA. A number followed that advice but others have yet to take the plunge.
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Protection problem in general regulation
20 Jan 2005
Protection products should not be treated the same as simpler general insurance products under the new regulatory regime, says consumers' association 'Which?'
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Pushing the Poat out - Tony Wickenden
20 Jan 2005
In my last column, as well as looking at schemes involving property that do not appear to be caught by the new pre-owned assets rules, I started to look at schemes that are caught by the rules.
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PYV negotiates two PI cover deals
19 Jan 2005
Specialist professional indemnity broker PYV is launching an exclusive offer for IFAs with waivers or interim FSA authorisation.
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Rensburg rejects Rathbones for Carr Shepherd takeover
20 Jan 2005
Private client manager Rensburg's rejection of Rathbones' offer in favour of a reverse takeover of Carr Shepherd Crosthwaite could secure its shareholders a better deal.
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Richard Verdin on protection
20 Jan 2005
When Scottish Provident created Self Assurance,it set the benchmark for all protection providers to aspire to. Its efforts culminated for all to see when, in the Swiss Re 1998 annual report, it was shown to have become the biggest term provider in the UK. This was no mean feat when you consider it had written annual premium business during the year of slightly more than 37.5 m, some 20 per cent higher than HSBC, which came second.
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RMB adds currency choices
20 Jan 2005
RMB Multimanager has added euro and sterling share classes to its five funds of hedge funds.
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Rock and Age Concern link lowers the limit for release
20 Jan 2005
Age Concern is teaming up with Northern Rock to offer an equity-release product for the growing at-retirement market.
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Savings gap is the result of economic success
20 Jan 2005
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SBJ buys pension business
20 Jan 2005
SBJ Group has bought the corporate group pension scheme business of private bank Brown Shipley.
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School's out
20 Jan 2005
After a flurry of activity a year ago on formulating a public education strategy on investment, all seems to have gone quiet.
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ScotEq slashes pension commission
20 Jan 2005
Scottish Equitable is the latest provider to slash commission on its group personal pension and group stakeholder business.
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Skandia to pay clients after error
20 Jan 2005
Skandia is working with the FSA to credit 10,000 policyholders who have been overcharged because of a system error.
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Skipton launches Yorkshire affordable housing project
24 Jan 2005
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Spaghetti junction
20 Jan 2005
It is time for life and pension companies to untangle the systems' spaghetti, says FIS Software business development director William Watling.
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Squeezing out the small specialists
20 Jan 2005
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Standard board failed pension test
20 Jan 2005
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Standard enhances extranet
20 Jan 2005
Standard Life is introducing an enhanced extranet service for the whole adviser community as well as its registered users.
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Standard Life is spending 100m on demutualisation and floatation
19 Jan 2005
Standard Life is spending 100m on its proposed demutualisation and flotation, which it says is typical for a company of its size.
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Swip and Lloyds TSB in portfolio deal
20 Jan 2005
Scottish Widows Investment Partnership and Lloyds TSB Private Bank are setting up a discretionary investment management service offering tailored funds for clients.
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Talkback
20 Jan 2005
Will Prudential's move to establish an independent committee to oversee its with-profits fund restore confidence in the product?
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The Mortgage Operation - Mortgage Express Prime Self Cert
21 Jan 2005
The Mortgage OperationMortgage Express Prime Self Cert
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The Mortgage Works introduces new adverse credit range.
25 Jan 2005
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The One Account launches intermediary exclusive
24 Jan 2005
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The wrong place at the wrong time
20 Jan 2005
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Thinc Destini reveals new board
20 Jan 2005
Thinc Destini has introduced its prospective board subject to FSA approval of the merger of the two firms, which it exp-ects to take place in March.
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This is the time of the Ifa
20 Jan 2005
Ashley Law head of sales and marketing Ian Harrison believes that only independent financial advisers can offer the service that is demanded by today's discerning consumers.
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Torquil Clark founder steps down to set up film firm
20 Jan 2005
Torquil Clark managing director and founder Don Clark has stepped down to start a new film business.
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Treasury mulls 50 year gilts
25 Jan 2005
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Tribunal finds flaws but backs FSA over L&G case
20 Jan 2005
The legal face-off between Legal & General and the FSA has left both sides claiming victory but the tribunal has ordered the FSA to cut L&G's 1.1m fine.
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Tupe change could widen pension gap
20 Jan 2005
The Government could widen the chasm between private and public sector pensions with rules which give better protection for civil servants.
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'Two million children will lose out under CTF'
20 Jan 2005
Chancellor Gordon Brown is being called on to prevent an estimated two million children losing part of their child trust fund allowances because of their birthdays.
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University Trust Fund targets lower income families
24 Jan 2005
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Waivering over PI
20 Jan 2005
The FSA's waivers for professional indemnity insurance, introduced two years ago, have come to an end with the onset of the insurance mediation directive last Friday.
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Watchdog snaps at the chasers
20 Jan 2005
The Financial Ombudsman Service has hit out at product providers and endowment-chasers for creating extra work for claim adjudicators.
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Web feat
20 Jan 2005
With all the brouhaha of the dotcom period now a distant memory it is probably a good time for IFAs to review what value operating a website can deliver to themselves and their clients.
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What's up doc?
20 Jan 2005
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Will brokers pass general knowledge test?
20 Jan 2005
Around 600 mortgage intermediaries have not applied to be regulated for general insurance business, meaning they will not be able to offer advice on mortgage-linked protection.
