Money Marketing
20 May 2010
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Adviser Fund Index
20 May 2010
Predictions of a drop-off in interest in absolute return products have proven misplaced, according to Adviser Fund Index panellists.
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Adviser was right to class KSF as low-risk
20 May 2010
FOS advises IFA facing a claim for recommending an offshore bond exposed to KSF IoM that it was correct to class bank deposits as low risk investments.
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Advisers divided over use of social networking sites
20 May 2010
Two-thirds of intermediaries think social networking sites are an inappropriate way to communicate with clients, according to Opinium Research’s Independent Voice survey.
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Advisers to quit protection sales in droves, survey finds
21 May 2010
Fifty-eight per cent of protection firms predict there will be far fewer intermediaries selling protection products by 2020, according to research undertaken by the protection review.
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Agreements on banking and tax rules
20 May 2010
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All and nothing
21 May 2010
The IFA sector will continue to evolve regardless of political uncertainty.
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Alternative thinking
20 May 2010
“We are about to go through the biggest change in our sector since the maximum commission agreement bit the dust. Yet so few have even read the papers recently published by the FSA.”
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An app for everything
21 May 2010
Kingdom Investments’ Steve Hunter says technology might help bring new blood into the advice sector.
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Balancing act
24 May 2010
Tony Wickenden says risk must be measured against tax incentives in exploring strategies for lessening the impact of the 50% tax rate
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Bluefin slashes jobs in private client division
20 May 2010
Bluefin Advisory Services has restructured its private client financial planning division, cutting adviser numbers from around 180 to 50.
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Budd will head fiscal watchdog
20 May 2010
The coalition Government is to create an independent fiscal watchdog with responsibility for growth and public finance forecasting.
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Cable pledges it won't be business as usual for banks
20 May 2010
Business secretary Vince Cable has vowed to impose tough reforms on Britain’s biggest banks, stressing that there is “no way of going back to the status quo”.
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Call to action
20 May 2010
COMPENSATION
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Capital gains tax hike to take shine off zeros
21 May 2010
Experts warn that zero-dividend preference shares will become less attractive with a higher capital gains tax rate, which is expected to be introduced by the coalition Government.
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Capital pain
21 May 2010
Mortgage sector fears a planned rise in capital gains tax will have a knock-on effect as landlords rush to sell ahead of the deadline. Paul Thomas reports
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Child's destiny
24 May 2010
“A battle over the back book of business housed in child trust funds will commence if anticipated changes to the wrapper emerge from the coalition Government.”
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CII should refund exam money
20 May 2010
QUALIFICATION
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Coalition pension planning
20 May 2010
Standard Life’s John Lawson looks at some of the pension options available for the coalition Government.
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Control issues
24 May 2010
Chris Salih predicts how the proposed capital gains tax increase will play out in the sector
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Cruel summer
21 May 2010
The financial services sector readies itself for painful reform says Lansons’ Ralph Jackson.
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Death of SimplyBiz MD Thorneycroft
20 May 2010
Ian Thorneycroft
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Death of SimplyBiz MD Thorneycroft
20 May 2010
It is with great sadness that we report the death of SimplyBiz managing director Ian Thorneycroft after a battle with cancer. His passion, positive attitude and belief in the IFA sector will be sorely missed by all those who worked with him or knew him. Our thoughts are with his family.
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Direct response
20 May 2010
Nic Cicutti scrutinises Aviva’s recent declaration that it sees no benefit in buying IFA distribution.
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EC mindful of 'Madoff lesson' in Ucits V plans
20 May 2010
The European Commission is to begin working next year on a Ucits V directive aimed at increasing investor protection and creating a level playing field for Ucits investors in Europe.
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Euro vision
21 May 2010
“The election may have been at the forefront of everyone’s minds but, as far as markets were concerned, the most important events were in Europe.”
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Exemptions to the rule
24 May 2010
Julie Hutchison, head of estate planning at Standard Life, sets out how to minimise inheritance tax
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Fears grow over Tory plans to curb wholesale funding
20 May 2010
Experts have raised concerns as to whether the coalition Government will look to implement the Conservative pledge to red-uce the mortgage market’s dep-endence on wholesale funding, warning any attempt to do so could hinder the recovery.
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Former RBS chief agrees FSA terms
20 May 2010
Former Royal Bank of Scotland executive director and global markets chairman Johnny Cameron has agreed with the FSA not to perform any significant influence function or under-take any further full-time employment in the industry. It follows an FSA investig-ation into Cameron and the systems and controls in place in global markets.
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FSA is unlikely to favour ex-banker for Sants role
20 May 2010
Former Prudential pair are both tipped to replace Hector Sants as FSA chief executive.
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FSA may relax on QCF level four for simplified advice
20 May 2010
The FSA may reconsider its req-uirement for simplified advisers to be qualified to QCF level four if advice is delivered via an automated service.Speaking at an Association of British Insurers’ conference this week, FSA director of conduct policy Sheila Nicoll said where simplified advice is delivered via an automated service, QCF level four may not be required. She said: “There is also a question of how the qualification requirements might apply in a simplified advice process ...
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FSA set to escape the axe
20 May 2010
The FSA is expected to survive the Conservative-LibDem Government’s banking regulation plans.
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Gauging contagion
21 May 2010
MARR’S MARKETS Julian Marr
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Greystoke banned forever and fined £400k
20 May 2010
The Financial Services and Markets Tribunal has upheld an FSA decision permanently banning Atlantic Law senior partner Andrew Greystoke from working in financial services and fining him and the firm £400,000.
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Hawksmoor puts faith in quality funds
20 May 2010
Hawksmoor’s multi-manager team believes its focus on good quality funds and fund managers will see it through the harsher low-growth and low-returns market environment it expects.
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Heir cut from coalition plans
24 May 2010
Gregor Watt and Lee Jones assess the taxation situation with the coalition Government dropping the Tories’ election pledge to raise the inheritance tax threshold to £1m
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Hopes rise for fair deal on Equitable Life
20 May 2010
Prime Minister David Cameron’s coalition Government has committed to implementing the Parliamentary Ombudsman’s recommendation to make “fair and transparent” payments to Equitable Life victims.
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IMA says Ucits IV package adds to burden
20 May 2010
The Investment Management Association has slammed the pending Ucits IV package, claiming that the improvements are much less significant than initially thought.
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Industry welcomes LibDem Webb as pensions minister
20 May 2010
Webb: ‘Big decisions’
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Inflation hits 3.7% peak in April
20 May 2010
Inflation increased to 3.7 per cent in April, according to the OFS. The CPI was at 3.5 per cent in January, 3 per cent in February and then up to 3.4 per cent in March, marking the highest point inflation has reached since the end of 2008.
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It's going to be wild, not mild
20 May 2010
THE EDITOR’S COMMENT OF THE WEEK
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It's going to be wild, not mild
24 May 2010
“Many economists are attempting to characterise the world as returning to normality after the crunch - but in the fractal model, the next bit of chaos could be just around the corner.”
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Kensington BTL deals for landlords looking to expand
20 May 2010
Kensington has launched a range of buy-to-let products aimed at existing landlords who want to expand their portfolios.
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L&G strength rating is downgraded
20 May 2010
Moody’s has downgraded Legal & General’s insurance financial strength rating. The credit rating agency has a negative view on the UK life market and the fact that L&G relies on the UK life market for most of its business.
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Law firm complains to OFT over Skipton's scrapped ceiling rate
20 May 2010
Leon Kaye files formal complaint on behalf of Skipton borrowers hit by its decision to scrap its SVR ceiling.
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Lloyds cap slashes repayment choice
20 May 2010
’How can an Isa or endowment be less risky than the future value of your home?’
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LV= stays neutral on equities but says long-term view is positive
20 May 2010
The multi-manager team at LV= Asset Management says it is mindful of the potential setbacks to equity markets but is positive in the long term.
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Man Group takes over GLG in £1bn deal
20 May 2010
Man Group is to acquire GLG Partners in a deal worth £1.1bn. Set to complete by September 2010, it would create an alternative investment manager with a value of £43.6bn.
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Mark to market
20 May 2010
There are some areas ripe for investment but everything now hinges on how the new Government handles the defict
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Marriage of convenience
24 May 2010
Sometimes tying the knot is the easiest fix to a complicated financial situation
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Meet consumer needs with low-cost advice, says ABI
20 May 2010
ABI calls for a simplified advice process with a low-cost automated service.
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MM Leader: Webb must be quick to address Nest concerns
20 May 2010
There is certainly no time for a honeymoon period as the coalition Government prepares for next month’s emergency Budget.
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Mortgage brokers cut out of high LTV deals
21 May 2010
Mortgage brokers are concerned that they now have access to less than half the products on the market.
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No such thing as certainty
24 May 2010
Brian Tora says the coalition is formulating policy and cabinet rows that will send wobbles through the markets.
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Opportunities with emergency Budget
20 May 2010
Unbiased.co.uk chief executive Karen Barrett says the coalition Government and forthcoming emergency Budget will see many business opportunities for IFAs.
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Out of Context
20 May 2010
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Pain calls for supervision budget rise
20 May 2010
FSA managing director Jon Pain says the regulator will need to increase its staff budget to implement its new intensive supervision approach despite the coalition Government’s drive to cut £6bn worth of spending.
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Paragon sees soaring profits
20 May 2010
Buy-to-let lender Paragon’s profits were up by 83 per cent from £15.9m in H2 2009 to £29.3m for the six months ended March 31.
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PI excess fears for ex-Park Row IFAs
21 May 2010
Ex-Park Row advisers fear they may be pursued for PI excess payments for complaints regarding files not vetted by internal compliance.
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PI plea to cut premiums for better qualified firms
20 May 2010
PI insurers are beginning to offer regulatory dividends to firms with higher qualifications and top-quality advice processes.
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Problems with protection processing
25 May 2010
Peter Chadborn says protection brokers are frustrated by having to use the transaction process which suits the product provider rather than the broker firm.
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Purves and Lance quit Schroders to join RWC
20 May 2010
Schroders income fund managers Nick Purves and Ian Lance have quit the firm to join investment boutique RWC Partners.
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Quicker cuts to slash deficit
20 May 2010
King: Backs move to accelerate reduction in deficit
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Rambourg return fails to rally investors
21 May 2010
Multi-managers want to see if there are further changes on the European desk.
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Raw deal
24 May 2010
“Now the regulator looks as though it will have a second life in light of the coalition, it might want to check that bond providers are being true to their word.”
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'RDR lost sight of intentions'
20 May 2010
Industry experts are warning that steps must be taken to ensure the retail distribution review does not limit consumer access to financial advice.
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Regulator censures IFS on GTEPs sales
20 May 2010
The FSA has publicly censured Integrity Financial Solutions for failings in its role as a product provider and adviser of geared traded endowment policies.
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Resolution defends performance
19 May 2010
Resolution has reassured shareholders that it continues to be in dialogue with a number of possible acquisition targets.
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Resources need to boost entrants
20 May 2010
Evolve director Jason Witcombe believes the retail distribution review will make the financial services sector more attractive to entrants but this will go to waste unless more positions are made available.
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Revenue admits drawdown error
20 May 2010
HMRC apologises after incorrectly telling LV= that income drawdown investors could switch providers or buy an annuity before 55 without penalties.
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Review will look at public sector pensions
20 May 2010
The coalition Government has pledged to establish an independent commission to review the long-term affordability of public sector pensions.The parties have also brought forward the date to restore the earnings link for the basic state pension to April 2011 and vowed that pensions will be raised by the higher of earnings, prices or 2.5 per cent.
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Richard Goodall
21 May 2010
The Ascentric sales and marketing director is driven by creating technology solutions for IFAs that keep pace with changing customer expectations.
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Role call
21 May 2010
Kevin Duffy believes David Cameron has done a stellar job with his Cabinet appointments.
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Sassoon set to be given role driving reform in the City
20 May 2010
Sir James Sassoon is expected to be given a ministerial role driving reform in the City and to be appointed to the House of Lords as a key Government spokesman.
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SEI currently sees no value in alternatives for new Moms
20 May 2010
The strategic manager of managers portfolios that SEI Investments recently launched on the Cofunds platform do not invest in alternative assets as the multi-manager feels they do not add value above the existing assets it holds
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Skipton 95% mortgage deal spurs competition
20 May 2010
Hollingworth: ‘Positive move’
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Standard issue
21 May 2010
As we wake up to a new dawn of shared Government, so too do we see exciting change and new players emerging in the world of financial services.
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Steer clear of UK, Artemis fund manager warns
21 May 2010
Artemis UK growth manager Tim Steer has revealed that more than 70 per cent of the fund’s earnings are from overseas, saying the UK is “best avoided” at present.
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Tenet/Leeds City College exam aims to attract new blood
20 May 2010
Tenet has teamed up with Leeds City College to launch a QCF level-five foundation degree for students wanting to become IFAs.
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The end is in sight for age 75 rule
20 May 2010
The pension industry has welcomed the new Government’s confirmation that it will end the rules requiring compulsory annuitisation at 75.
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The whole picture
24 May 2010
James Smith spends 10 minutes talking with SVM chief executive Colin McLean.
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Things that go bump
24 May 2010
Thames River’s Gary Potter says it is arguably one of the toughest times on record to manage investment portfolios.
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Treasury plans to review Tata contract with Nest
20 May 2010
The National Employment Savings Trust contract with administration provider Tata Consultancy Services will be reviewed as chief secretary to the Treasury Liberal Democrat David Laws begins the Government’s £6bn cost-cutting drive.
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Treasury roles for Hoban and Greening
20 May 2010
Conservative MP Mark Hoban has been appointed Treasury financial secretary, a role he previously shadowed, while Tory MP Justine Greening has been appointed Treasury economic secretary.
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Trustnet aids advisers with asset manager factsheets
20 May 2010
Trustnet has launched a series of qualitative group factsheets to help advisers and private investors compare the strengths and weaknesses of a number of asset managers.
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Wait goes on for Park Row advisers
20 May 2010
THE EDITOR’S COMMENT OF THE WEEK
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What are the coalition Government's annuity options?
20 May 2010
The coalition will axe compulsory annuitisation at 75 but there is scope for the rules to end up even more complicated.
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Will power is still vital
24 May 2010
Lee Jones reports that will writing continues to be an essential part of estate planning
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Yearsley surprised at speed of Jupiter float
21 May 2010
Hargreaves Lansdown investment manager Ben Yearsley says Jupiter’s decision to float next month may be linked to plans by the coalition Government to hike capital gains tax.
