Money Marketing
2 February 2005

  • 60m returned to NFU Mutual policyholders

    8 Feb 2005

    NFU Mutual has announced its 2005 mutual bonus scheme which it says will see general insurance policyholders benefit by up to 60m.The amount of benefit policyholders receive depends on the length of time they have insured with NFU Mutual. Policyholders on first renewal will receive a 4 per cent discount. This rises by one per cent each renewal up to 9 per cent for fifth and subsequent renewals.NFU Mutual managing director Ian Geden says: "It enables policyholders to share in ...

  • Abn's fleming joins aegon to set investment strategy

    3 Feb 2005

    Aegon Asset Management UK has appointed Andrew Fleming as chief investment officer to lead a 50-strong investment team that manages more than 33bn.

  • Advisers face minefield in choosing business model

    3 Feb 2005

    Product providers admitted that they face new marketing challenges posed by the changing role of advisers in a depolarised regime.

  • Aitc chief godfrey urges trust boards to use the treasury

    3 Feb 2005

    The Association of Investment Trust Companies has called for more trust boards to use treasury shares.Director-general Daniel Godfrey has made a plea to the boards of investment trust companies in a bid to get them to consider buying back shares and holding them "in treasury" to be sold back at a later date.It is a year since the rules governing investment trusts changed to allowed treasury shares to be held. The first trust to do so was the Finsbury growth & income trust, ...

  • Ami warning on idds in bid to improve record-keeping

    3 Feb 2005

    The Association of Mortgage Intermediaries is warning all member firms to rethink the way they handle their initial disclosure documents in a drive to tighten up record-keeping across the industry.

  • Arla claims landlords may be missing out on essential cover following gi regulation

    3 Feb 2005

    Landlords could be missing out on essential general insurance and protection pro-ducts for residential lettings because unregulated agents are not allowed to sell to them.The Association of Retail Letting Agents is concerned that landlords who rely on residential letting agents to arrange house and contents insurance will not get cover if their agent is not regulated because they are classed as an introducer.Under general insurance regulation, an introducer to products within ...

  • Axa sees growth in contracting-in numbers

    8 Feb 2005

    Axa says the number contracting back in to state second pension is rising despite Government figures that show older workers are still ignoring warnings on contracting out.

  • Benefit match

    3 Feb 2005

    Clerical Medical retirement planning manager Steve Meredith looks at the changes for taking pension benefits.

  • Best sellers

    3 Feb 2005

    In a new regular section of International Money Marketing Brief, Contract Marketing Services managing director Richard Lloyd-Jones looks at what offshore products and providers UK-based IFAs are using most.

  • Boulger on mortgages

    3 Feb 2005

    Three months into statutory mortgage regulation and the phony war is about to end. So far, the FSA has adopted a light-touch approach to regulation to give firms a period to iron out any unforeseen problems in complying with the new rules. Three months is clearly not long enough for some firms as there are still an awful lot of non-compliant financial promotions around, with some broker websites, for example, even still saying the firm is regulated by the MCCB.

  • Bristol & West International goes for a kick about

    8 Feb 2005

    Bristol & West International has established the FTSE kickout bond, a FTSE 100-linked guaranteed equity bond which has several early maturity trigger points.

  • Britannic sets up second hedge fund

    2 Feb 2005

    Britannic is launching its second hedge fund the Britannic world sector fund, to be managed by James Smith, using his market and sector allocation model. The fund will use a long/short strategy. Normally there will be exposure to at least 20 long and 20 short regional sectors. The fund size at launch is 10.6m. Smith intends to close the fund when it reaches 130m.

  • Broker talkback

    3 Feb 2005

    Do life offices have a duty to inform policyholders of MVR-free windows in with-profits policies?

  • Build a better business

    3 Feb 2005

    The Financial Planning Service certified financial planner Julian Crooks: "Our main issue is marketing, or lack thereof, and trying to get in touch with the right clients. As a fee-based consultancy, we feel more could be done from a higher level to raise awareness of the benefits of fee-based consulting.

  • CAF launch equity tracker for the voluntary sector

    8 Feb 2005

    The Charities Aid Foundation and Legal & General are to launch an investment fund exclusively for the voluntary sector.The CAF UK Equitrack fund, to be managed by L&G, aims to track the FTSE all-share index, offering not-for-profit organisations exposure to UK equities. The annual management charge is 0.25 per cent, with a minimum investment of 1,000.

  • Change of directional

    3 Feb 2005

    Ingenious Asset Management has set up the Ingenious directional bond fund. This is a Dublin-based Oeic which takes advantage of the greater flexibility in the use of derivatives provided by the Ucits III legislation.The bond fund aims for growth ahead of inflation by investing globally in bond markets, including government, non-government and emerging market debt. In all cases, the bonds held are restricted to investment grade.Under Ucits III, fund managers have fewer restrictions ...

  • Charcol still rejecting mortgage brain kfis

    3 Feb 2005

    Charcol is refusing to use key fact illustrations from Mortgage Brain over concerns that it is still unable to produce accurate documents.

  • Cheltenham & Gloucester - Two Year Premium Fixed Rate Mortgage

    4 Feb 2005

    Cheltenham & GloucesterTwo Year Premium Fixed Rate Mortgage

  • CII certificate to be taught in schools

    3 Feb 2005

    Six schools in the North-east of England will start teaching the Chartered Insurance Institute certificate in financial planning from September.

  • Claim chasers are cherrypicking profitable clients

    3 Feb 2005

    You may recall that a few months back - when I did a bit of mystery shopping of my own - I raised awareness of the ethics of some endowment claims firms offering no win, no fee services. This was defended by other such firms maintaining that all claims firms should not be tarred with the same brush.

  • Clerical links first guaranteed fund to FTSE 100 in retail push

    3 Feb 2005

    Clerical Medical is planning its first capital guaranteed fund as part of a push into the retail fund market.

  • Clerical slashes with-profits bonuses

    2 Feb 2005

    Clerical Medical has slashed bonuses on its with-profits policies, but MVRs have dropped by between 2 and 4 per cent from this time last year. Regular bonuses on its with-profits life policies have been chopped down to 0.8 per cent from 1 per cent last year while with-profits pension policy bonuses fall to 1 per cent from 1.5 per cent. Clerical's with-profits fund returned 9.9 per cent over the course of 2004.

  • Close offers two per cent discount on escalator 100 fund

    7 Feb 2005

    Close Fund Management is offering a two per cent discount on its UK escalator 100 fund. The Close UK escalator 100 fund looks to smooth returns through the use of derivatives, and capital protection on a quarterly basis by locking in gains. If the stockmarket is lower at the end of a quarter than it was at the beginning, the value of the investment remains the same. The minimum investment is 1,000.

  • Close Property Investment - ClosePip Isa and Pep

    7 Feb 2005

    Close Property InvestmentClosePip Isa and Pep

  • ClosePip isa and pep fund targets property

    3 Feb 2005

    Close Property Investment's new ClosePip Isa and Pep fund invests in a property fund of funds which, although fett-ered, harnesses the skills of several independent property managers.

  • Committee could be scrapped

    3 Feb 2005

    The controversial regulatory decisions committee of the FSA could be swept away as the regulator makes changes to its enforcement process.The FSA has outlined an investigation into its procedures and is thought to be considering sweeping changes to the RDC.

  • Compensation conundrum

    3 Feb 2005

    Many IFAs will surely welcome anything which spreads the burden of FSA fees across the year rather than face a very painful one-off hit.

  • Correspondent's week

    3 Feb 2005

    My health has reaped huge dividends from my new job as senior reporter for Finance Week, the new Centaur magazine for finance directors.Or so I thought.Long days (8.30am until at least 7pm on press days) and endless copy deadlines leave little room for the copious amounts of alcohol to which I was allegedly well accustomed in my previous job at another publication.Perhaps that's what motivated an all-night clubbing session with a former colleague on Friday night.But ...

  • Costs of financial education should not fall on sector

    3 Feb 2005

    Daniel Godfrey, director general of the Association of Investment Trust Companies, has called on the Government to create a Financial Education Agency. This agency could, he suggests, come under the umbrella of the FSA to provide financial education across the UK.

  • Coventry launches new offset mortgage

    7 Feb 2005

    Coventry Building Society launches a new offset mortgage.

  • Design of the times

    3 Feb 2005

    The pension scheme changes taking effect from April 6, 2006 will simplify matters considerably - it would be churlish to argue otherwise.

  • Diary

    3 Feb 2005

    February 7How to revise for the Chartered Insurance Institute examsLen Wilkins, FCII (Sicat training consultancy)Chris Paine, Dip CII (independent training consultant and adviser)Chairman: Mrs Vasilina Bindley MA (Hons),MIL ACII (executive director - marine, Willis)020 7600 1343February 8IFA PromotionPress ClubBournemouth020 7294 3681February 9Insurance Institute of LondonChina - Globalisation in the Year of the RoosterLondon020 7600 1343February 10IFA PromotionPress ClubLeicester020 ...

  • Dwp accused of deviating from simplification over protected rights transfers

    3 Feb 2005

    The Department for Work and Pensions has been accused of moving away from the concept of pension simplification by not allowing self-investment of protected rights.

  • Easter quits sales role at Ample

    2 Feb 2005

    Ample group sales director Alan Easter has quit the firm.Ample, which now trades under the Interactive Investor banner, was acquired from AMP by Capital Accumulation last March. Interactive offers online share dealing, a best of breed fund supermarket and a comparative mortgage quotation service.

  • End of term

    3 Feb 2005

    How wrong can Tom Baigrie, Jason King and the FSA be with regard to term insurance? asks Terence O'Halloran.

  • Exchange announces integration with Mint

    4 Feb 2005

    The Exchange has announced the integration of its quotation and new business services into Mint Financial Services bespoke back office business and administration system.The deal is aimed at reducing administrative processes for Mints 140 IFAs and Independent Mortgage Advisers, removing the need to re-enter data many times.This is the latest in step in The Exchanges integration programme which already includes 1st Software, Bankhall, Mortgage Brain, Quay Software and Synaptic Systems.Mint ...

  • Exchange integrates services with IntelliFlo

    7 Feb 2005

    The Exchange has completed work to integrate its comparative quotation and electronic application services with IntelliFlos front and back office administration systems.Users of IntelliFlos Intelligent Office platform can now transfer client data electronically from their back-office into Exwebs quote services and then into electronic application forms.IntelliFlo chief executive Nick Eatock says the integration will provide its clients with benefits in terms of cutting costs and ...

  • F&c faces a fight against the flow

    3 Feb 2005

    IFAs are concerned over F&C after a Morgan Stanley report predicted an outflow for the firm of 3bn in assets under management this year after it saw an outflow of 4.7bn last year.

  • Fidelity transfers 40,000 clients to fundsnetwork

    3 Feb 2005

    Fidelity has completed the transfer of 40,000 customers on to FundsNetwork following its purchase of Egg's investment business. The group says this is the biggest migration of supermarket clients.

  • Framlington removes the barriers

    2 Feb 2005

    FramlingtonManaged Balanced Fund

  • 'Fsa blaming IFAs for product providers' marketing material'

    3 Feb 2005

    The FSA is judging IFAs res-ponsible for product provider marketing material during mis-selling claims, a letter obtained under the Freedom of Information Act reveals.

  • Fsa crackdown threat to shut ifas which fail to treat customers fairly

    3 Feb 2005

    The FSA will ban IFAs that fail to respond quickly to regulatory changes brought about by depolarisation.

  • FSA pressed to reveal RDC's decision data

    3 Feb 2005

    A law firm is petitioning the FSA under the Freedom of Information Act to reveal whether its regulatory decisions committee is anything more than "a hanging court".

  • FSA reminds consumers of state second pension

    8 Feb 2005

    The FSA has reminded consumers that they can change their decision on state second pensions every tax year.Regulators want consumers to know that if the second pension is contracted out through a stakeholder or personal pension this can be reversed every year.Everyone in the UK who earns more than 79 per week is included in the state second pension unless they choose not to.Pension providers should send out an ABI/Aifa form that highlights the pros and cons of contracting out.

  • Fscs pledge on 'phoenix' cash

    3 Feb 2005

    The Financial Services Compensation Scheme says it will start working with liquidators to claw back cash from IFA bosses that dump assets in "phoenix" firms.

  • Fundsnetwork enhances commission

    3 Feb 2005

    FundsNetwork is to offer discount and enhanced comm-ission offers on multi-manager funds.

  • Ge life in drawdown cash offer

    3 Feb 2005

    GE Life is offering £100 compensation to clients who do not get their tax-free cash payments on income-drawdown policies promptly.The group is keen to push its service as a differentiating factor and the offer applies to all fully insured drawdown applications received by June 1. The offer does not apply to annuities, as was previously reported in Money Marketing.The guarantee to pay tax-free cash within seven working days or compensate the client runs from the date that ...

  • Group looking at instalments

    3 Feb 2005

    Representatives from the small business practitioner panel and the Financial Services Compensation Scheme have joined the FSA in a working party to investigate instalment payment of levies.

  • HBOS confident over revised licence application

    8 Feb 2005

    HBOS says it still expects its new license to be passed by Parliament despite Yorkshire MP Barry Sheermans challenge over concerns it could favour the bancassurers Scottish arm.

  • Home and away

    3 Feb 2005

    The Insurance Mediation Directive enables FSA-regulated IFAs to sell their services throughout the EU, says Simon Hildrey.

  • Homeowners Friendly rebrands

    7 Feb 2005

    Homeowners Friendly Society has announced a new brand for the promotion of its financial services.From todays launch date the Engage Mutual Assurance brand will be the societys primary interface with new customers.The society will undertake a period of awareness building, underpinned by the sponsorship of the Rugby Super League, which will be renamed Engage Super League prior to an official brand launch in early April.It also plans to preserve and expand on its other brands ...

  • How well qualified are adjudicators?

    3 Feb 2005

    The FSA has extolled the values of holistic financial planning. It has dictated the need for high levels of qualification. It insists that key features documents are distributed with each recommendation and, of course, it has approved those key features documents as authentic consumer-orientated information sheets which enable customers to assess the products which they wish to buy.

  • Huge hike for fund firms

    3 Feb 2005

    The Financial Services Compensation Scheme is forcing fund firms to pay 27m to cover the risk of a fund management group going bust this year.

  • 'ifa' is our real brand

    3 Feb 2005

    I think that Simon Parker's article on branding to take on the banks misses the point in the final analysis (Money Marketing, January 20).

  • iimia - iimia ACD Services Growth Fund

    8 Feb 2005

    iimiaiimia ACD Services Growth Fund

  • Independent view

    3 Feb 2005

    Any financial adviser worth his salt will always start any financial planning exercise with a detailed budget so that the client's overall objectives can be set. This then forms the framework for the financial planning exercise.

  • Industry tells turner to abolish means test

    3 Feb 2005

    A broad consensus of industry bodies is telling the Turner Commission that the basic state pension must be increased and means-testing scrapped.

  • Ingenious Asset Management - Directional Bond Fund

    3 Feb 2005

    Ingenious Asset ManagementDirectional Bond Fund

  • Interest rates predicted to dip before they rise

    7 Feb 2005

    Market experts predict the Bank of England will keep interest rates on hold this week and predict they are likely to dip before they rise.

  • Investec chief quits to join Martin Currie

    7 Feb 2005

    Investec fund managers joint managing director Andy Sowerby has left to join Martin Currie as managing director.He will be responsible for marketing, distribution and product development at the Edinburgh-based boutique. Sowerby has worked for Investec since 2000. Before that, he was at Scottish Widows fund management, responsible for mutual fund sales and marketing. David Aird remains at Investec as sole managing director.

  • Investec to manage MGM fund range

    8 Feb 2005

    Investec Fund Managers is to take over the management of MGM Assurances unit trust range.The announcement follows a similar arrangement in 2003 when Investec took over the management of Hargreaves Lansdowns fund range.MGM Assurance chief executive Gerard Healy says the decision will allow MGM to focus more resources on its core products whilst ensuring the interests of its unit trust clients are looked after well.Investec Fund Managers joint managing director David Aird says: ...

  • Investment view

    3 Feb 2005

    There is growing concern among IFAs that the constant drip of negative coverage of poorly performing funds, such as Bestinvest's Spot the Dog report, will deter consumers from investing.Bestinvest's latest report, offered to consumers online or via a freefone number, uses a series of filters to identify 85 underperforming funds. First, they must have underperformed their benchmark in each of the last three years and, second, they must have underperformed their benchmark by at least ...

  • Investors' best friend?

    3 Feb 2005

    Investors have the memory of the bear market at the forefront of their minds. Is this caution justified? asks Brian Tora.

  • Joint approach backed for effective marketing

    3 Feb 2005

    IFAs and product providers agree that a unified approach is needed if financial products are to be marketed effectively to consumers.

  • Julian Gibbs

    3 Feb 2005

    One sector which has been neglected by many IFAs is European smaller companies. This is one area where good fund management really counts because smaller companies all over Europe are still much underresearched.

  • L&g •fsa - the lawyers' view

    3 Feb 2005

    Beachcroft Wansbroughs partner James MacNish Porter says: "I think it is a points' draw. The comment has been coming out largely in favour of Legal & General. But is L&G going to get away without a fine? No. In my dealings with L&G, they have never been afraid to stand up for what they believed in, or to question received wisdom. In this case, received wisdom was not to challenge the FSA. It is really a case of how things will work in the future.I think that, having learned ...

  • Life is not always simple - neither is life insurance

    3 Feb 2005

    Terence O'Halloran is such a regular correspondent of yours that I have often wondered how he finds time to write any business. The contents of his letters show that he is a man of firm and fixed ideas. Grey does not appear to be a shade that he recognises.

  • Life offices give pledge on consultants as ifas ask, where is the man from the pru??

    3 Feb 2005

    Life insurers gave a guarantee that specialist consultants are here to stay after IFAs asked: "Where is the man at the Pru?"Life offices Legal & General, Norwich Union and Prudential pledged to keep roving broker consultants after intermediaries complained that they never received a visit from the Prudential.But the IFAs at the Money Marketing round table discussion last week admitted that although they wanted to keep visits from providers, it had made little difference to the amount ...

  • Life offices send out invitations for anniversary

    3 Feb 2005

    In a rare piece of good news for with-profits investors, Scottish Widows and Clerical Medical are to write to thousands of their policyholders to inform them of MVR-free anniversary guarantees for the first time.

  • Lloyd George looks for stocks down under

    7 Feb 2005

    Lloyd George ManagementLG Developed Asia Fund

  • Lloyd George Management - LG Asia Pacific Fund

    2 Feb 2005

    Lloyd George ManagementLG Asia Pacific Fund

  • Lloyd George Management - LG China Fund

    2 Feb 2005

    Lloyd George ManagementLG China Fund

  • Lloyd George Management - LG Developed Asia Fund

    3 Feb 2005

    Lloyd George ManagementLG Developed Asia Fund

  • Mattison on Pensions Associates Board

    2 Feb 2005

    Richard Mattison has been promoted to Pensions Associates' board taking on the role of business development director. Mattison joined Pension Associates in 2003 as account administrator later being promoted to business development manager. He has previously worked for James Hay and Friends Provident.

  • Medical IFA divison for Berry Birch

    2 Feb 2005

    Berry Birch and Noble is launching a new medical IFA division aimed at advising healthcare professionals in the UK. Headed by Steve Higson, BBN Independent Medical Services will offer advice on all aspects of financial planning to anyone in the medical profession. BBN are recruiting new advisers to staff the service, and hope to have 40 in place by the third quarter of 2005.

  • Missing link

    3 Feb 2005

    Anne Robinson must be quaking in her knee-high boots as Tracey Cavanagh, business development manager at mortgage packager Zebra Homeloans, squares up for the Weakest Link Challenge.Cavanagh has gone through the trial stages and will be appearing on the show next week.Let us hope she has packaged all her general knowledge and won't be hearing that fateful phrase too early in the quiz. Good luck Tracey.

  • Moneynet launches monthly mortgage survey

    4 Feb 2005

    Moneynet launches a monthly bulletin showing UK average property values and mortgage borrowing patterns.

  • Mortgage Trust forecast surge in buy-to-lets

    7 Feb 2005

    Mortgage Trusts latest findings in its monthly buy-to-let intermediary forecast reveal an expected surge in springtime business.

  • MTM VCT benefits from China growth

    7 Feb 2005

    The MTM China VCT is a venture capital trust aiming to raise up to 25m for investment in unquoted UK companies that are doing business with China.

  • Multi-manager view

    3 Feb 2005

    It is frustrating for boutique multi-managers such as Miton Investments to hear of the vast sums of new inflows to this arena that are finding their way into some of the marketing leviathans in our industry, even if they have a poor or, in some cases, no track record.

  • Nationwide Building Society - Three Year Fixed Rate Mortgage

    8 Feb 2005

    Nationwide Building SocietyThree Year Fixed Rate Mortgage

  • Nationwide Building Society - Two Year Tracker

    7 Feb 2005

    Nationwide Building Societytwo Year Tracker

  • Nationwide provides popular choice

    3 Feb 2005

    Nationwide Building SocietyTwo Year Tracker Mortgage

  • NU Healthcare launches online health tree

    8 Feb 2005

    Norwich Union Healthcare launches online health tree to help customers understand family conditions and illnesses.

  • NU sets up guaranteed WP fund

    2 Feb 2005

    Norwich Union is introducing a guaranteed version of its with-profits fund, which offers full capital protection after a five year term for an additional 0.5 per cent charge over its standard annual management charge.The guarantee is available from 7 February and this replaces a free five-year guarantee promotion that has been running for the past year.

  • Octopus reaches into IHT planning

    7 Feb 2005

    Octopus Asset Management has launched an inheritance tax service and is encouraging investors to invest in Aim-quoted equities to avoid IHT liabilities.Aim investments are exempt from IHT after being held for at least two years. Last year, 30,000 estates paid an average of 83,000 in inheritance tax, creating a total bill of 2,5 billion, Octopus says.

  • Opening balance from Framlington

    2 Feb 2005

    Framlington has opened its institutional managed balanced fund to retail investors 12 years after the fund was introduced.

  • Pension edge: John Moret

    3 Feb 2005

    I am not sure who coined the phrase "Simple solutions seldom are." However, Peter de Savary hit the nail on the head when he said: "The great fault all over the world in business is that people overcomplicate and forget that the main ingredients for success are common sense and simplicity. I use lawyers and accountants as little as possible." To whom he could have added civil servants.

  • Perpetual mountain logo makes its return

    3 Feb 2005

    Invesco Perpetual is bringing back Perpetual's mountain logo and launching its biggest ad push for several years.

  • Pi fears on rule confusion

    3 Feb 2005

    IFAs could be hit by negligence claims due to the compliance and risk management obligations of depolarisation, warns PI broker PYV.

  • Product matters

    3 Feb 2005

    Demand for venture capital trusts isstarting to soar.Sales have topped £160m, having more than doubled over the last two months.There are over 30 VCT promoters and managers vying for investors' money.The gulf between the best and worst-performing VCTs is wide so investors need to be careful.Pennine Aim VCT 5 merits serious consideration. The management team of three includes Michael Cunninghama director of Rathbone, who has 20 years' investment experience and can be viewed ...

  • Pru chief is appointed to head fundsnetwork

    3 Feb 2005

    Fidelity has appointed Prudential business development director David Dalton-Brown as head of FundsNetwork.

  • Pru draws up multi-ties for burns-anderson and tenet

    3 Feb 2005

    Prudential has made multi-tie deals with independent IFA networks Burns-Anderson and Tenet Group.

  • Public want reform of stamp duty

    3 Feb 2005

    The Government is set to reap around 4.3bn stamp duty from house sales in the current tax year - a nine-fold increase since 1993/94 - according to the Halifax.

  • Puma on the loose

    3 Feb 2005

    Investment banking boutique Shore Capital aims to raise up to 32m for the Puma VCT, its first venture capital trust.

  • Purple haze

    3 Feb 2005

    Those artily named pension consultants, Purple Circle may be very proud of their abstract branding but the Diary wonders if they are aware they have taken the name of the US's "premier junior livestock magazine".The magazine says: "Attention is focused on producers and show persons of championship cattle, hogs, sheep and goats: hence the 'Purple' in our title. The 'Circle' in our title proclaims the unity and solidarity that livestock people share as we aim for excellence in our ...

  • Recovering companies boost bond funds

    8 Feb 2005

    For the first time since 1998 corporate debt upgrades outnumbered downgrades last year. A record 39 companies regained investment grade status, dubbed rising stars by Fidelity, as companies repaired their balance sheets and the outlook for corporate earnings improved.

  • Release clauses

    3 Feb 2005

    Advisers must weigh up the risks and benefits of equity release for clients.

  • Rensburg to manage russell equity portfolio

    3 Feb 2005

    Leeds-based Rensburg Fund Manage-ment has won an external mandate to manage a Russell Investment Group equity portfolio.

  • Ricky Okey joins Abbey's intermediary mortgage and protection team

    7 Feb 2005

    Ricky Okey is set to join Abbeys intermediary mortgage and protection sales team

  • Sales slump as standard and friends put focus on profits

    3 Feb 2005

    Life and pension business dropped significantly at Standard Life and Friends Provident last year.

  • 'savers ignoring inflation'

    3 Feb 2005

    Savers are mostly unaware of the effects of tax and inflation on their money, a new study claims.Research from National Savings & Investments shows 64 per cent of people do not take inflation into account when saving.Only 33 per cent consider the taxation of their savings, down from 37 per cent in February 2004.The retail prices index - the measure used by NS&I for its inflation-linked products, includes the cost of housing and council tax, unlike the consumer price ...

  • Scepticism over fund's 40% claims

    3 Feb 2005

    Predictions of a 41 per cent return on a new fund investing in Bulgarian property have been greeted cautiously by IFAs.The Black Sea property fund from Development Capital Management will invest in early-stage residential property developments in seaside and ski resorts.Investors can choose between property shares, which will have full exposure to the market, and capital-protected units, which provide 100 per cent capital protection and are managed by F&C Management. Minimum ...

  • Scoteq protect offers guaranteed critical rates

    3 Feb 2005

    Scottish Equitable Protect is to provide guaranteed rates on life with critical-illness protection from February 14.

  • Scottish Widows Bank extends interest rate options

    7 Feb 2005

    Scottish Widows Bank extends the range of interest rate options available on its mortgages.

  • Secret service spooks sector

    3 Feb 2005

    The FOS's refusal to divulge details of a controversial decision has unsettled the industry.

  • Sesame back to school with a campaign for teenagers

    3 Feb 2005

    Sesame is running a campaign focused on teenagers, with 5,000 copies of a book entitled Money Money Money being sent out to secondary school and further education colleges.The move is part of a wider youth campaign, including face-to-face advice, consumer magazine promotions and a Money Money Money website.Sesame has worked on the national campaign with Prudential. The book covers issues such as saving to fund leisure, global finance, planning for a first job and moving away ...

  • Severn steps in with bid to shift burden to providers

    3 Feb 2005

    New Aifa director general David Severn is pledging to fight for a shift in the regulatory burden towards product providers and for increased stability, certainty and lower costs for IFAs.

  • Severn takes over as IFAs face 18% levy rise

    3 Feb 2005

    New Aifa director general David Severn has called for a cut in regulatory costs for IFAs as the sector faces an 18 per cent rise in the FSCS levy.

  • Shore relations

    3 Feb 2005

    Our panel of experts talk about the difference between onshore and offshore IHT plans and the advantages for UK investors.

  • Short-term mortgage arrears on increase

    3 Feb 2005

    Short-term mortgage arrears have shown their first significant increase since 1998, according to figures from the Council of Mortgage Lenders.

  • Signature tune

    3 Feb 2005

    If you had told me a couple of weeks ago that I would be writing a column advocating the use of an online new bus-iness system that requires a hard copy signature from the client as part of the process, my answer would probably have been unprintable. Today, you are reading that column. This goes to show that it is always important to keep an open mind and that if you do things in the right order you can achieve the best of both the old and new worlds.

  • Single-minded cartel homes in on lone deal

    3 Feb 2005

    Manchester-based mortgage broker Cartel is planning to tie to a single lender and managing director Carl Wright predicts that broker firms will increasingly look to cre-ate these types of relationships as the market becomes more competitive.

  • Sipp providers in cost warning on overseas property

    3 Feb 2005

    Residential property in Sipps after A-Day faces legal and admin problems that will make it an expensive asset class to run, warn pension experts.

  • Standard banks on index trio

    4 Feb 2005

    Standard Bank offshore has created equity growth deposit 5, a guaranteed equity bond that is linked to an equally weighted basket of three stockmarket indices over a four-year term.

  • Standard Life launches research booklet

    4 Feb 2005

    Standard Life has launched a booklet aimed at explaining the advantages of using software or internet based research systems to adviser firms.The booklet, entitled Research Tools, is the third in a series of seven technology guides produced by the company.The guide covers specialist areas such as mortgages, pensions, investment and portals and includes comparison tables of some of the research tools available on the market.15,000 guides will be distributed by Standard Lifes ...

  • Standard policyholder wants board seat

    2 Feb 2005

    Standard Life policyholder and former investment banker Michael Hogan is attempting to gain a berth on the life assurer's board through a one-man internet campaign. Hogan wants policyholder representation on the Standard board and needs the backing of 250 fellow policyholders to be able to stand for election at the life office's August AGM.

  • Stephen Haddrill becomes director general of ABI

    2 Feb 2005

    The ABI announces today the appointment of Stephen Haddrill as director general in succession to Mary Francis.

  • Stuart Dyer

    3 Feb 2005

    The chief executive of Cofunds says the tie-up with Legal & General puts it in the right position for the depolarised world, opening up access to different markets and moving the firm closer to a wrap proposition.

  • Take stock

    3 Feb 2005

    Lloyd George Management, a specialist in Asian and emerging markets, has established five new Oeic funds for retail investors. One of the funds, the developed Asia fund, will focus on Australia, Hong Kong, New Zealand and Singapore.The fund will be managed by chief investment officer for Asia Samir Mehta. Mehta joined Lloyd George in 1998 after managing private client money for ANZ in India and working as an analyst for Peregrine Securities.Lloyd George's investment team starts ...

  • Tech costs of L&G link will delay break-even for cofunds

    3 Feb 2005

    Cofunds' projected break-even date has slipped back to early 2007 due to the level of investment required to support the platform's tie-up with Legal & General.

  • That'll be the data

    3 Feb 2005

    I am about to give you a lot of personal information in order for you to provide me with independent financial advice. How do I know this information is safe and will not to be used for other purposes?

  • The corporate card

    3 Feb 2005

    There is a huge untapped market of companies which can benefit from offshore bonds and accounts.

  • The Mortgage Operation - Capital Home Loans Prime Self Cert for Self Employed

    4 Feb 2005

    The Mortgage OperationCapital Home Loans Prime Self Cert for Self Employed

  • The PFS view

    3 Feb 2005

    A market known for strong ethics will be a better market because it will deliver benefits to the economy and society. Once ethics are allowed to decline, bad practice becomes the norm and there is a competitive cost on firms which act ethically, which means few do. Essentially, you get a race to the lowest level and the system degenerates into crisis.

  • Tillinghast warns with-profits firms on ppfm problems

    3 Feb 2005

    Tillinghast has warned companies running with-profits investments that they could be accumulating future problems for themselves by not fully addressing new industry regulations.

  • Tom baigrie on protection

    3 Feb 2005

    To reproduce a quote from a client in The Sunday Times recently: "I wanted to pay the lowest possible premiums but get the best possible cover. I felt it was a much better option to ask the experts than try and search the market myself. I would now always advise my friends and family to take advice. Any rules that lift the standard of advice available when you buy insurance policies can only be a good thing for consumers."

  • Torquil clark buys lifepolicies direct

    3 Feb 2005

    Independent specialist life insurance broker LifePolicies Direct has been bought by Torquil Clark.

  • Trouble-shooter to push splits' fund

    3 Feb 2005

    A trouble-shooter has been hired by split-cap investment trust firms to convince consumers to take the FSA compensation settlement.

  • Uk banks worst at euro cross-selling

    3 Feb 2005

    UK banks are the worst in Eur-ope at cross-selling to their customers, according to a rep-ort by Booz Allen Hamilton.

  • Us giant hartford setting up uk annuity operation

    3 Feb 2005

    Hartford Life, which has assets under management of 201bn worldwide, is planning to offer 40 best of breed funds from six product providers through its investment bond, to be launched in the second quarter of the year. Investors will be offered a capital guarantee option on their portfolio for an extra fee.The firm will only distribute through intermediaries and says it will make service the cornerstone of its selling proposition to IFAs and will not be solely commission-driven.Hartford ...

  • Verity's view

    3 Feb 2005

    With both sides claiming victory over Legal & General's ground-breaking challenge to the FSA concerning its 1.1m fine for endowment misselling, which side has really won?L&G's victory dance convinced more members of the press than did the FSA's equivalent.

  • Widows' plea for pledge on transfers

    3 Feb 2005

    Scottish Widows is calling on the Inland Revenue to guarantee that provider backlogs of pension fund transfers not processed by A-Day will not be blocked.

  • Widows reduces mvr after fund boost

    3 Feb 2005

    Scottish Widows has halved its MVR to 5 per cent and average surrender values have risen by 10 per cent after good with-profits performance.

  • Willing participants

    3 Feb 2005

    With all the difficulties that a combination of the gift with reservation and pre-owned assets rules have caused for lifetime estate planning with property - especially the principal private residence - many have effectively given up on this and turned to consider what can be done to at least ensure that the nil-rate band of the first of a couple to die is used. The saving in inheritance tax if this is successfully achieved is not to be sneezed at. It is the princely sum of 105,200.

  • Winterthur poach Rennie from Lincoln

    8 Feb 2005

    Vincent Rennie is joining Winterthur Life as chief investment officerfrom Lincoln Investment Management, where he had a similar role as head of investments and corporate treasury.Rennie will be responsible for overseeing all aspects of investment management at Winterthur, including both portfolio management and the selection of external fund managers.

  • Winterthur promotes trustee plan

    3 Feb 2005

    Winterthur Life is running an initiative to raise awareness of the benefits of trustee investment plans as part of an holistic retirement planning process.

  • With-profits strength cuts the red letter shortfalls at scotam

    3 Feb 2005

    Strong with-profits performance last year will see a reduction in the number of Scottish Amicable endowment policyholders on red warnings of shortfalls.

  • Wp rules aim to make costs and penalties clear

    3 Feb 2005

    The FSA has finalised the first set of rules designed to regulate the transparency and accountability of the with-profits sector.

  • Zurich cuts cover rates by 25%

    3 Feb 2005

    Zurich, which is returning to the protection market following its recent rebrand to Zurich Assurance, has reduced its critical-illness, term insurance and decreasing mortgage cover rates by 25 per cent. It will review its rates on income protection and adaptable life plans in the second half of the year.

  • Zurich cuts cover rates by 25%

    2 Feb 2005

    Zurich returns to the protection market following its recent re-brand to Zurich Assurance.

  • Zurich's Coulson gets senior sales role

    2 Feb 2005

    Zurich Mortgage Network director Richard Coulson has accepted a key role within the Zurich Advice Network. Specific appointments have not yet been finalised but Coulson will be offered a significant senior role in the sales management team. His replacement is yet to be confirmed. ZAN will be rebranded as Openwork in the summer.

Poll

Should the MPC have increased QE this week?

Current Issue

Advanced search