Money Marketing
19 November 2009
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Irrational numbers
19 November 2009
Chris Gilchrist ponders how advisers can benefit from seemingly irrational ideas to help their clients.
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3A reveals full Altin hedge fund holdings
19 November 2009
Fund of hedge fund manager 3A has again disclosed the entire holdings in its Altin portfolio, which was up by 11.16 per cent this year as at October 28.
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80% Say market review won't meet FSA's aims
19 November 2009
Eighty per cent of mortgage brokers believe the mortgage market review will not meet the FSA’s aims to have a market that is sustainable and flexible and works better for consumers.
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ABI could fight crackdown
19 November 2009
Trade body schedules emergency meeting to discuss lobbying plans over FSA projection rate crackdown.
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ABI to keep TPD
19 November 2009
The Association of British Insurers has scrapped plans to remove total permanent disability from critical-illness plans after members’ rejection of its proposal.
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Adviser Fund Index
19 November 2009
The recent rally may have buoyed sentiment and driven investors out of cash and into the market. Despite this, the November rebalancing suggests British equities might not be the beneficiary of this optimism.
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Advisers urged to show protection case videos
19 November 2009
Protection advisers should consider offering case study videos of clients on their website, according to Scottish Provident.
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Aifa sets up group to add pressure in long-stop push
19 November 2009
Aifa is launching a working group to campaign for a long stop for IFAs.
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AMI appeals for compliance rules to cover lead sites
19 November 2009
The Association of Mortgage Intermediaries is calling for lead-generation websites to be brought under the financial promotion regime.
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AMI wants lenders to check income plausibility with ONS
19 November 2009
The Association of Mortgage Intermediaries is calling on the regulator to allow lenders to verify borrowers’ incomes by using employment data collected by the Office for National Statistics.
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An unknown quantity
19 November 2009
Christopher Jarvis finds the industry unsure over whether the £200bn QE cash injection is working
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Argos will refer site leads to IFAs
19 November 2009
Argos will put users of its new price comparison site enquiring about mortgages or pensions in touch with one of 5,000 brokers or IFAs.
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Aviva offers cashback pledge for with-profits
19 November 2009
Aviva is to launch a continuous money-back guarantee option for new with-profits investments.
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Banned accountant jailed in £300k fraud
19 November 2009
Disqualified Bristol tax rebates and investment accountant jailed for 5 years.
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Big rise in universities signing up for CII's careers roadshows
19 November 2009
The Chartered Insurance Institute has seen a 67 per cent increase in interest from universities wanting to take part in its graduate roadshow compared with last year.
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Big step forward but some still lag
19 November 2009
Technology and Technical founder and director Kim North has branded the number of IFAs without a website “disgraceful”.
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Bob Bullivant
19 November 2009
The chief executive of Annuity Direct is a crusader for the open market option, saying the present situation is ‘a national scandal’ and he accuses insurers of blocking change. Interview by Lee Jones.
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Bonham Carter still wary over commercial property outlook
19 November 2009
Jupiter Asset Management chief executive Edward Bonham Carter says he is still wary about the fundamentals of the UK commercial property sector.
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Brain wave
19 November 2009
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Briefing on Tory plan
19 November 2009
Cicero Consulting and Conservative Intelligence are holding a breakfast briefing on Conservative plans for financial sector reform on December 1 from 8am at The American Square Conference Centre in London. Shadow Treasury Financial Secretary Mark Hoban MP will be speaking at the event.
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Bullivant says big life firms hindering Omo
19 November 2009
Former CII deputy general says providers are perpetuating the myth that advisers should not deal with small pots.
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Can you cut it with gaps in knowledge?
19 November 2009
Let’s make it clear. I am not knocking the old guard who have tended to their community and clients over the years. Lack of knowledge is a dangerous thing, yet how do we ensure that clients get the advice they so richly deserve if we do not test for it.
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Capita prepares shareholders for Arch cru hit
18 Nov 2009
Capita is in talks with the FSA over potential remedy for customers that may have suffered detriment.
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Capital inadequacy
19 November 2009
The new cap-ad rules just pile unnecessary pressure on IFAs
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Check on chasers before referring clients
19 November 2009
The FSA is concerned that brokers could be referring clients to claim-chasers without the approval needed to meet data protection rules.
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Comparisons aren't trusted
19 November 2009
Consumers are unimpressed with price comparison sites according to a survey by Which? Money in which no site scored higher than 50 per cent.
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Continuing story of a profitable business
19 November 2009
Stephen Crosbie Provider View
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Cornell accuses HSBC of sparking dual-pricing
19 November 2009
HSBC’s deals provoked the extremes of dual-pricing among intermediary lenders, says First Action Finance head of communications Jonathan Cornell.
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Cover lines
19 November 2009
The panel assess the problems with income protection, who should pay for a consumer advertising campaign, plans for an overhaul of state benefits and the FSA’s action on PPI
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Death of ex-Cofunds distribution chief Campbell
19 November 2009
Former Cofunds managing director of distribution Mark Campbell has died.
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Decumulate to accumulate
19 November 2009
Chris Salih reports on calls for fund firms to come up with products for the post-retirement market
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Default dynamics
19 November 2009
Pension Income Choice Association chairman Tom McPhail talks to Gregor Watt about the aims and ambitions of the new body
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Defuse the timebomb
19 November 2009
Artemis strategic bond fund is taking short position as a weapon against inflation
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Design of the times
19 November 2009
Quantitative easing, stretching longevity and low rates are adding to annuitants’ woes but at least product providers are being innov-ative. Report by John Greenwood
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Discount deals set for big return
19 November 2009
Jonathan Cornell says discounted mortgage deals are set for a comeback.
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Don't lose the plot
19 November 2009
“having seen some of the people stalling and whinging I think a bit of gunpowder under some firms might actually be the catalyst to change”
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Doubts remain as Keydata is put in default
19 November 2009
Advisers have welcomed confirmation from the Financial Services Compensation Scheme that it has declared investment firm Keydata in default but warn that uncertainty remains for some categories of investors.
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Emotional in Fof approach on artworks
19 November 2009
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Ethics boy
19 November 2009
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Exam delay fears over job losses at the skills council
19 November 2009
Advisers are concerned that the consultation process involving all staff at the Financial Services Skills Council will cause delays to the development of the QCF level four qualification.
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F&C Fof chief plans property fund buys
19 November 2009
Dean Cheeseman looks to buy into commercial property.
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Fisher told MM that company took no commission
19 November 2009
In 2007 Fisher told MM the firm received no commission whatsoever in response to Nick Bamford open letter.
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Former FSA chair Callum McCarthy joins JC Flowers
24 Nov 2009
McCarthy takes on the newly created position of European chairman.
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FSA fine and ban
19 November 2009
The FSA has banned and fined Andrew Cumming, a former client adviser at UBS, £35,000 for his role in the activities that led to the firm being fined £8m this month. The FSA has fined Alexei Krilov-Harrison, a former stockbroker at Pacific Continental Securities UK £24,000 for market abuse.
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FSA in the slow lane
19 November 2009
Paul Farrow says history shows the regulator has been reactive rather than proactive.
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FSA sees us as pushers, says CML chief Wyles
19 November 2009
The Council of Mortgage Lenders says it believes the FSA regards mortgage lenders and intermediaries as the “drug dealers at the school gates”, enticing innocent consumers into the mortgage market and then “getting them hooked”.
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FSA will get power to veto bank pay and bonus deals
19 November 2009
The FSA will get the power to tear up bankers’ contracts under new powers to tackle excessive bonuses and financial wrongdoing.
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FSA will survive until 2014
19 November 2009
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Growing optimism on the recruitment front
19 November 2009
The financial services industry is increasingly optimistic about recruitment prospects in the sector, according to the Chartered Institute for Securities & Investment.
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HIM and vigour
19 November 2009
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Hornbuckle in pre-Budget plea to Darling to pass on pension funds
19 November 2009
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How to make a claim
19 November 2009
Despite increasing payment rates, there are still steps that advisers can take to help the claim process run more smoothly. Rhys Dudding, underwriting and claims development manager at Zurich UK Life, takes a look at the critical-illness and death claim process
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IFA jobs shifting to commission basis
19 November 2009
IFA firms are shifting away from hiring staff on a salary basis, preferring to employ advisers on a commission-based package, according to Recruitment Connection.
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Industry must show it can offer solutions
19 November 2009
The need for a real shake-up in long-term care has never been more apparent. Britain is undergoing a demographic transformation that will see a dramatic ageing of the population.
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Inflation on rise
19 November 2009
The consumer price index rose to 1.5 per cent in October from 1.1 per cent in September while the retail price index rose to -0.8 per from -1.4 per cent in September, the biggest jump in the RPI in nearly 20 years.
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Jason Britton: Longitude for long term
19 November 2009
“The focus of the next UK election is likely to be the competition between the parties as to who can promise the biggest cuts if they reach power”
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Just Retirement looks to launch LTC product
19 November 2009
Just Retirement is looking to launch a long-term care product and a protection range for older customers.
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Keep faith in what you are doing
19 November 2009
Andrew Stevens My Beautiful Career
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Lazard picks CEO
19 November 2009
Lazard has appointed Kenneth Jacobs as chairman and chief executive officer. He was CEO of Lazard North America and succeeds former chairman and CEO Bruce Wasserstein who died in October.
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Level 7 award for top CFA qualification
19 November 2009
The CFA Institute’s investment management qualification, the CFA program and CFA charter, has been benchmarked as QCF level seven, comparable with a master’s degree in finance.
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Life saving lessons
19 November 2009
John Greenwood considers the effects of increasing longevity
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Liontrust to “rebuild” as assets fall further
25 Nov 2009
Nigel Legge remains upbeat despite asset shrinkage.
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Lookalike sites failing advisers
19 November 2009
Yellowtail Financial Planning managing director Dennis Hall says IFAs are being poorly served by website builders.
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Master plan
19 November 2009
There are benefits and problems to consider in moving a company pension scheme to a master trust
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Meteor to set up admin firm for structured plans
19 November 2009
Meteor Asset Management plans to create a new company to separate the admin function from the plan management promotion for its structured products.
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MM leader: Towry Law's trail and error
19 November 2009
Towry Law chief executive Andrew Fisher’s comments on the evils of trail commission have certainly caused a stir.
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MMR is a hurdle to recovery, warns Imla
19 November 2009
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Mortgage set-up fees double in five years
19 November 2009
Which? research shows jump in arrangement and valuation fees.
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MPs point to prudential problems
19 November 2009
The Treasury select committee says it has “serious problems” with the European Commission’s proposals for macro and micro-prudential financial regulation.
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New lenders may shun brokers
19 November 2009
Nationwide believes new lenders more likely to launch direct-to-consumer products.
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No sympathy if you don't fulfil duty
19 November 2009
I write with reference to Jeremy Newbegin’s recent letter in Money Marketing. He asked when he was supposed to find the time to study.I have more clients than he does and I have all the responsibilities that he has.
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Octopus Investments rewrites product literature
19 November 2009
Octopus Investments is overhauling its product literature in response to the FSA’s structured product review findings.
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On the trail of Towry commission
19 November 2009
I refer to the front-page article in last week’s Money Marketing headlined, Towry gets £6m a year trail cash for legacy business, in which you are quoted as saying: “It is not physically possible to trace back who these clients are and, in practial terms, it is not possible to turn the commission off.” I refute these statements as being totally incorrect.
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Openwork advisers going off the road for RDR upgrade
19 November 2009
1,200 pension and investment advisers to undergo intensive training in multi-million pound upgrade.
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Out of Context
19 November 2009
“I practised this presentation in front of my cats but then they don’t know much about quantitative easing, so they weren’t very responsive.”
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Pain warns about abandoning caution in upturn
19 November 2009
FSA managing director of retail markets Jon Pain has warned that caution will be quickly forgotten when the property market recovers.
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Parties battle for LTC vote
19 November 2009
Do the main parties have genuine solutions to restore the crumbling long-term care system or is it all just electioneering? Lee Jones reports
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People on the move
19 November 2009
InvestmentHenderson New Star global financials fund manager Guy de Blonay has quit to join Jupiter. He joins Jupiter in 2010 in an advisory role before joining the financials team of Philip Gibbs and Robert Mumby.
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Platform price war
19 November 2009
Kira Nickerson assesses the future for platforms.
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President Fosberry
19 November 2009
The Personal Finance Society has appointed Smith & Williamson director and national head of financial services Mike Fosberry to take over from Paul Lothian as president. Zurich Intermediary Group chartered financial planner Edward Grant has been appointed PFS vice-president.
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Price versus value
19 November 2009
Nick Bamford responds to a call for him to set out his pricing structure.
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Professional outlook
19 November 2009
Being a professional involves more than just ticking boxes
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Property principles
19 November 2009
Philip Scott considers the future of property investments for Sipps
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Proving time
19 November 2009
Justin Urquhart Stewart asks what is there to show for £500m of platform development?
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RBS and HBOS received £61.6bn in emergency Government loans
24 Nov 2009
Mervyn King reveals the size of the emergency support provided to the two institutions last year.
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Recruiting revival
19 November 2009
“Unemployment continues to be the elephant in Gordon Brown’s living room but within the world of financial services there are finally signs that a slow thaw is occurring in what has been a two-year recruitment freeze.”
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Regulator on alert for phoenix PPI firms
19 November 2009
Firms looking to shed past payment protection insurance liabilities by phoenixing have got a stark warning from the FSA.
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Search for small-cap sparklers
19 November 2009
Aim has seen a stunning 65% rise this year and there is still plenty of scope for finding the gems in the market
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Second thoughts
19 November 2009
Steve Bee says changes to S2P will change pensions fundamentally
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Sense of expectancy
19 November 2009
“If mortality continues to improve, many people working today will spend almost as long in retirement as they do in employment and this raises real questions on how people pay for their retirement.”
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SFO probes fund
19 November 2009
The Serious Fraud Office has launched an investigation into a fund called Gilher Inc which guaranteed a return of 20 per cent a year. The £20m fund targeted British nationals and other expatriates in Mallorca.
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Significant impact
19 November 2009
The Consulting Consortium chief executive and creative officer Joanne Smith on why firms must be able to prove to the FSA the fitness and propriety of the people they employ.
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Sipp code published
19 November 2009
The ABI and the Association of Member Directed Pension Schemes, have launched new good practice guidance for Sipp providers.
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Sipp firms feeding clients' cash into their own funds
19 November 2009
Sipp providers have come under attack for channelling clients’ money into their own funds.
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Solvency II retreat on cash call
19 November 2009
European regulators have pulled back from forcing UK life insurers to hold billions of pounds extra capital.
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Steve Bee to leave Scot Life to join Paul Hogarth venture
25 Nov 2009
Pension guru will leave the provider in January to launch an adviser-focused platform.
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Survival of the cult
19 November 2009
“Perhaps this week, the title should be: Cult of the Equity III - just when you thought it was safe to go back into the market.”
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Swip to run TU trusts
19 November 2009
TU Fund Managers has appointed Scottish Widows Investment Partnership to manage its unit-trusts from December 1.
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Take an efficiency test
19 November 2009
Stephen Crosbie, head of proposition development for investments and protection at Aegon, says technology is the vital link when assessing the efficiency of doing business
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Taking exams is an economic necessity
19 November 2009
I have just read the article in last week’s Money Marketing, headlined, Protest in prospect from 60% already studying, in which Stephen Gay from Aviva recommends that Aifa should not support the rule of law in respect of existing advisers having to re-qualify.
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The art of deduction
19 November 2009
Calculating adjusted net income is an important step to minimising the effect of 60% taxation
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The green gap
19 November 2009
Gregor Watt says people’s professed interest in ethical choices can evaporate when it comes to actually making an investment
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The means season
19 November 2009
Cherry Reynard asks what happens to the people beyond the advice scope
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The real picture
19 November 2009
Candidates must be realistic and employers should recruit now
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The trust belt
19 November 2009
Chris Cummings says it is time for encouragement and reward, not heavy-handedness, from the FSA.
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The tweet spot
19 November 2009
Social media has an important role in engaging with potential investors
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Titcomb thunderbolt rails at 'mortgage myths'
19 November 2009
FSA director slams reaction to self-employed loan plans and criticises poor-value intermediary products
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'Towry Law failed to switch trail cash when client moved'
19 November 2009
Adviser says Towry failed to allow the transfer of trail commission.
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Unite claims banks are pressing staff to missell
19 November 2009
Trade union Unite has slammed banks’ sales processes, claiming they are pressuring staff to missell products.
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Variable values
19 November 2009
In the third part of a four-part series surveying the retirement market, Annie Shaw reports on investing in a low-interest-rate environment and the attraction of drawdown and variable annuity guaranteed income products
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Walne explores an alternative world
19 November 2009
Former Money Marketing reporter Toby Walne has published a book about alternative investments.
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Whitechurch level 4 move
19 November 2009
Whitechurch Network is teaming up with Competent Adviser, the training and competence solutions provider, to help its members achieve QCF level four or equivalent.
