Money Marketing
21 May 2008
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£350Bn needed to stop house prices halving
22 May 2008
Economist John Wriglesworth says the Government needs to pump a massive £350bn into the mortgage market through its special liquidity scheme to stop a 50 per cent fall in prices.
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20/20 view from Man
23 May 2008
Man Vision is a capital-protected hedge fund of funds designed to benefit from new growth areas around the world such emerging markets, changing demographics, climate change and new energy.
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A shaw thing
22 May 2008
Sam Shaw is a reporter on Money MarketingAnd so the day has finally come when I bid you all adieu in my last entry as distribution hack at MM Towers. My final week started with an early farewell dinner with David Ferguson, chief executive of Nucleus,. A stunning dinner at Cocoon, just off Regent Street was a welcome environment to discuss the latest develop-ments at Nucleus and long distance relationships.
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A wake-up call on Omo
22 May 2008
Annuity providers have been given until December to improve consumer correspondence on the open market option after the FSA found that much of it fails to meet regulatory standards.
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ABI sets up new forums for protection strategy
22 May 2008
The Association of British Insurers has restructured its protection committees to separate day-to-day work from long-term strategic thinking.
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Actuary claims Widows' mismanagement cost schemes £300m
27 May 2008
Scottish Widows says it is unaware of any legal action being taken against it after it allegedly gave “negligent" advice to around 100 company pension schemes.
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Acuity aims to beat IHT with protected plan
22 May 2008
Acuity Capital has introduced an inheritance tax service that invests in companies listed on the Alternative Investment Market.
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Adviser Fund Index - A return to market values
22 May 2008
Following an AFI survey sent to panellists in March, not one of the 10 respondents expected value to outperform growth in the following 12 months. Now, however, some panellists are more optimistic about value.
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Advisers cannot get details from lenders
22 May 2008
MortgagesBy Tanya PowleyBrokers have hit out at the FSA's suggestion that they should charge a fee for advising a client to take out a mortgage direct from a lender.
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Advisers confused about TCF evidence
21 May 2008
Nearly half of advisers are confused about the evidence the FSA expects them to produce by the December treating customers fairly deadline.
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Advisers urged to ensure security with protection
22 May 2008
Bright Grey has warned mortgage and protection advisers must think carefully before moving into the investment and pension sectors.
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Aegon's third-way plan gives two guarantees
22 May 2008
Aegon has unveiled full details of its Income for Life at-retirement product which aims to bridge the gap between annuities and income drawdown.
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AIFA welcomes Lipsey appointment
27 May 2008
The Association of Independent Financial Advisers has welcomed the appointment of Lord Lipsey as the chairman of the Financial Services Consumer Panel.
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Alliance & Leicester - Two-Year Base Rate Tracker
23 May 2008
Alliance & LeicesterTwo-Year Base Rate Tracker
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Alliance & Leicester - Two-Year Fixed Rate
23 May 2008
Alliance & LeicesterTwo-Year Fixed Rate
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Allianz Global Investors - RCM Global EcoTrends Fund
22 May 2008
Allianz Global InvestorsRCM Global EcoTrends Fund
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Alternatives' aim for Schroders
22 May 2008
Schroders managing director of UK retail Robin Stoakley says further additions to the firm's products are likely to be in the alternatives sector.
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AMI says regulator is shifting status stance
22 May 2008
The Association of Mortgage Intermediaries has slammed the FSA for changing its rules on mandatory disclosure of status amid turbulent market conditions.
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Annuity alternatives
22 May 2008
I have sorted out my pension and after taking tax-free cash I will be left with £200,000 to provide an income in retirement for myself and my wife. What are our options?
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Annuity rates enjoy upturn, says Moneyfacts
23 May 2008
Moneyfacts has reported a sustained upturn in average annuity rates.
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Asda moving into mortgage market
22 May 2008
Asda is looking to move into the mortgage market and is conducting a tender to find a mortgage broker for outsourcing business.
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Australia fare
22 May 2008
Many UK advisers hold their independence at the heart of their business so what would happen if banks and life companies bought up the majority of adviser firms?
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Aviva and Spottiswoode could be close to deal on inherited estate
27 May 2008
Speculation is mounting that Aviva and Clare Spottiswoode could be close to submitting a proposal to the FSA over the insurer’s inherited estate.
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Axa names its multi-manager company Architas
22 May 2008
Axa has named its new multi-manager investment firm Architas.
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Bankers' bonuses under FSA scrutiny
21 May 2008
Bankers’ bonuses will come under scrutiny as part of the FSA’s assessment of financial institutions’ exposure to risk.
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Banks may appeal OFT charges case today
22 May 2008
The banks embroiled in a court battle with the Office of Fair Trading over current account charges may launch an appeal today.
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Banks swap £16bn of securities in liquidity scheme
21 May 2008
Banks may have swapped about £16bn of securities under the Bank of England's Special Liquidity Scheme between its announcement on 21 April and the end of last month, according to New Star.
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Barclays Global Investors - i-Shares MSCI AC Far East ex-Japan SmallCa
23 May 2008
Barclays Global Investorsi-Shares MSCI AC Far East ex-Japan SmallCap
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Barclays Global Investors - i-Shares MSCI Japan SmallCap
23 May 2008
Barclays Global Investorsi-Shares MSCI Japan SmallCap
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Barclays Global Investors - i-Shares S&P SmallCap 600
23 May 2008
Barclays Global Investorsi-Shares S&P SmallCap 600
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Barclays kicks out
23 May 2008
Barclays Wealth has introduced a FTSE 100-linked capital -protected bond that has the potential to mature each year during its five-year term.
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Barings plans soft commodity portfolio
22 May 2008
Barings Asset Management is looking to start a soft com-modities fund run by Jonathan Blake.
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BBA figures show small recovery
27 May 2008
Latest figures from the British Bankers’ Association have shown a small recovery in house purchases in April.
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Big extension for shared property buying schemes
22 May 2008
The Government has exten-ded its shared equity and shared ownership schemes beyond key workers to help all first-time buyers into homeownership.
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Blue Sky Asset Management - Accelerated Recovery Plan
23 May 2008
Blue Sky Asset ManagementAccelerated Recovery Plan
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Blue Sky Asset Management - Asset Allocation Accelerated Growth Plan II
23 May 2008
Blue Sky Asset ManagementAsset Allocation Accelerated Growth Plan II
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Blue Sky Asset Management - Protected Income Plan III
22 May 2008
Blue Sky Asset ManagementProtected Income Plan III
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BNP Paribas starts Sipp service
22 May 2008
BNP Paribas is offering a white-label Sipp for advisers, wealth managers and asset managers looking to outsource admin and investor servicing. It gives access to collectives, equities and commercial property.
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Bond sales down 40 per cent after CGT changes
21 May 2008
Sales of investment bonds dropped nearly 40 per cent to £6.463bn in Q1 2008 compared with Q4 2007, and almost 30 per cent from the same time last year, according to the Association of British Insurers.
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Britannia International - Ethical Global Guaranteed Capital Bond
22 May 2008
Britannia InternationalEthical Global Guaranteed Capital Bond
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Broker Talkback
22 May 2008
Will you try to charge a fee for advising mortgage clients to take up a direct deal?
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Buffett party
22 May 2008
As my flight neared Eppley airfield, Omaha, all I could see was farmland. It seemed an unlikely venue to encounter arguably the world's greatest investor - Warren Buffett - at the Berkshire Hathaway annual shareholder meeting.
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C&G fixes for greater affordability
23 May 2008
Cheltenham & Gloucester2-Year Fixed-Rate Plus
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Can lenders offer better direct deals with a clear conscience?
22 May 2008
In the last few months, I have read many points of view regarding the credit crunch and predictions that it will continue for anywhere between 12 and 36 months, depending on which so-called expert you listen to. Current conditions are making it extremely difficult for us brokers to survive and although diversifying is a good thing, for some it may be a bit late in the day.
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Cash in on volatility
22 May 2008
Too many people have nearly all their money on deposit with banks and building societies. It is sensible to keep an emergency fund in cash but equities have shown the best returns over the medium to long term if run by the top managers.
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Caught in the net
22 May 2008
I have always been a huge believer in the power of the internet. More than any invention in the past 50 years, the web is helping reshape our lives in a way barely imaginable even a decade ago.
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Changing fortunes
21 May 2008
This week Credit Suisse appointed its third head of global equities inside two years as Kim Goodwin quit the firm to return to the US in a consultancy role.
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Charcol sale is off as founders buy out private equity
22 May 2008
John Charcol's private equity shareholder Advantage Capital has sold its 15 per cent stake to the company's founders after a sale of the broker was ruled out.
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Cheshire Building Society - Five Year Fixed Rate
23 May 2008
Cheshire Building SocietyFive Year Fixed Rate
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Cheshire Building Society - Intermediary-Only Three Year Fixed Rate
23 May 2008
Cheshire Building SocietyIntermediary-Only Three Year Fixed Rate
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CML predicts 7 per cent drop in house prices
21 May 2008
The Council of Mortgage Lenders predicts house prices will drop 7 per cent by the end of 2008, despite the fact lending was up 5 per cent in April.
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'Cohort projections put pressure on pensions'
22 May 2008
The Pension Regulator's proposed approach to mortality assumptions will place unnecessary pressure on pension schemes, warns the National Association of Pension Funds.
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Commercial First secures £40m working capital facility
23 May 2008
Commercial First has arranged a £40m three year working capital facility from Lloyds TSB.
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Contribution conundrum
22 May 2008
Remuneration strategies for 100 per cent shareholding directors have provided many opportunities for advisers to add value by helping clients minimise their tax bills. Solutions have depended on the tax band of the company and individual but, for example, where company profits are under £300,000 for the year, the composite tax position, including National Insurance, makes dividend payments more attractive than salary.
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Coventry Building Society - 6.79% Offset Fixed Rate
23 May 2008
Coventry Building Society6.79% Offset Fixed Rate
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Coventry deal a hit for higher LTVs
23 May 2008
Coventry Building Society6.65% Offset Fixed Rate
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Cracking the Crunch, By Tony Ward, chief executive of Home Funding
22 May 2008
The credit crunch is asking questions of everybody, including intermediaries. Without doubt these are doubly hard times for the intermediary market. It is quite fair to ask where are your friends when you need them? For a start, the FSA’s recent declaration that dual pricing has no consumer detriment made it clear where its sympathies lie. Meanwhile too many other commentators are struggling to achieve much except to remind us how awful our predicament is.
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Credit Suisse Asset Management - Global Income Plus Fund
22 May 2008
Credit Suisse Asset ManagementGlobal Income Plus Fund
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DA firms facing a struggle
22 May 2008
Mortgageforce director of distribution Stuart Johnson says directly authorised firms not affiliated with a network or a franchise will suffer.
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Dampier says tide may be turning for US and Japan
22 May 2008
Hargreaves Lansdown head of research Mark Dampier believes that New Star's decision to merge its Japan and America portfolios could suggest that it is time to invest in the sectors.
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Death of popular ScotProv stalwart Phil Alibone
22 May 2008
Former Scottish Provident national account director Phil Alibone has died.
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Deutsche Bank - db x-trackers Sterling Money Market ETF
23 May 2008
Deutsche Bankdb x-trackers Sterling Money Market ETF
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Difference of opinion on advice/ sales split
22 May 2008
I am amazed to see the comment allegedly made by Richard Hobbs that "there is no difference between a top tied adviser at St James's Place and an IFA because it is the asset class and the asset manager that makes the difference. The wrapper is of no importance".
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Dual prices just a phase, says Wyles
22 May 2008
Nationwide non-retail executive director Matthew Wyles says the strategy of lenders undercutting brokers is only a phase and will not last.
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Dual thinking on wrong lines
22 May 2008
The overriding compliance principle provided by the FSA for this year, as you will know, is treating customers fairly. We are all trying to apply the principle across our businesses and working to achieve the six outcomes.
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Each-way bets with small stakes
22 May 2008
As most fund managers have moved up the market cap scale, UK smaller companies have gone out of vogue. Bigger companies generally have better valuations and a more difficult economic situation suggests a better picture for them.
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Ecce Omo
22 May 2008
For the past few years, the Association of British Insurers has fought - fairly effectively it has to be said - to prevent investors from getting the best possible value from their maturing pension funds.
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Ecclesiastical creates welcome addition to ethical universe
23 May 2008
Ecclesiastical Investment ManagementAmity Sterling Bond Fund
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Edeus asset service to help lenders understand risks
27 May 2008
Edeus says its new asset quality assessment service will allow lenders to understand the current risks of all the mortgages in any of their asset pools.
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Elements of housing market are stabilising, says NAEA
27 May 2008
The National Association of Estate Agents has warned the housing market is still very regional but elements of the market are stabilising.
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EU go-ahead for auto-enrolment
22 May 2008
The European Commission has confirmed that automatic enrolment of members into contract-based schemes, such as group personal pensions, is consistent with EU law.
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Euro directive could hit group pensions
22 May 2008
A new European Union directive could significantly reduce the number of people enrolled into group personal pension schemes despite auto-enrolment getting the green light from Brussels last week.
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Evan Owen triumphs over Government on information ruling
23 May 2008
The Government will have to disclose information on whether Gordon Brown sought legal opinion on whether the Financial Services and Markets Bill is compatible with human rights legislation.
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Ex-lenders facing challenge on savings move
22 May 2008
Homefunding chief executive Tony Ward warns that moves by ex-lenders into the retail savings products arena present challenges for their distribution database.
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Finance Ireland to de-list from AIM
23 May 2008
Finance Ireland had confirmed it intends to seek the approval of shareholders to de-list its ordinary shares on AIM and IEX.
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First Direct back in the market
22 May 2008
First Direct has resumed offering mortgages after withdrawing from the market in April. It says it has cleared a backlog of application approvals that forced it to suspend lending to new customers.
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Flotation has sharpened us up, claims Hargreaves
22 May 2008
Hargreaves Lansdown chief executive Peter Hargreaves says becoming a public company has made everyone at the firm sharper in the past 12 months.
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Friends Provident appoints David Rough to board
22 May 2008
Friends Provident has appointed David Rough to its board as an independent non-executive director.
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Friends Provident may appoint temporary finance director
23 May 2008
Friends Provident has admitted it may be necessary to appoint an interim finance director to replace Jim Smart when he leaves in August.
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FSA censures Mortgageland
22 May 2008
The FSA has publicly censured Mortgageland Limited for poor financial promotions, inadequate sales processes and record-keeping failings.
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FSA fines three mortgage brokers
22 May 2008
The FSA has fined three mortgage brokers for their inability to demonstrate that they had recommended affordable mortgage contracts that met their clients’ needs.
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FSA fines UNAT for call centre failings
21 May 2008
The FSA has fined UNAT DIRECT Insurance Management Limited £640,000 for failing to complete its due diligence before selling to consumers through call centres.
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FSA publishes feedback on liquidity DP
27 May 2008
The majority of respondents to the FSA’s discussion paper on liquidity requirements for banks and building societies agree that quantitative requirements are a necessary component of any liquidity regime, says the regulator.
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FSA says direct fee needs to have KFI from broker
22 May 2008
The FSA has moved to clarify its rules on mortgage disclosure to enable brokers to charge a fee for advice when recommending clients take out a mortgage direct from a lender.
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'FSA should use Thinc windfall to pay redress'
22 May 2008
The FSA should not absorb Thinc Group's £900,000 fine but should set it aside for any compensation claims that arise, says IFA John Joseph.
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FSSC launches elderly care qualification for advisers
23 May 2008
The Financial Services Skills Council has launched a new national quality standard for financial advisers working with older clients.
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Future closes doors to new lending
22 May 2008
Future Mortgages is the latest lender to close its doors to new lending as parent company Citibank opts to focus on its Citi and Egg brands.
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Get smart
22 May 2008
The mortgage market is certainly tough at the moment and in uncertain times the temptation is always to tighten up the marketing budget. That is fine and prudent but some would say this is exactly the time to crank up your marketing efforts.
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Goddard aims to boost advisers in role as PFS chief
22 May 2008
Fay Goddard says she will bring a depth of understanding on how regulation affects advisers to her new role as chief executive of the Personal Finance Society.
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Good timing from Legg Mason
23 May 2008
Legg Mason InvestmentsLegg Mason Global Equity Income Fund
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Goodwin quits as Suisse head of equities
22 May 2008
Credit Suisse global head of equities Kim Goodwin has quit after less than two years.
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Govt to extend 10p tax compensation to future years
21 May 2008
The Government has committed to extending its £2.7bn package to compensate those set to suffer as a result of the abolition of the 10p tax rate to future years.
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HBOS £500m landmark deal is first securitisation for year
22 May 2008
HBOS has completed the first public UK residential mortgage-backed securitisation since the liquidity squeeze took hold of the market last July.
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HBOS sells out of Rightmove
22 May 2008
HBOS has sold its entire stake in property website Rightmove for 59.2m. It announced last week the sale of 16.2 million shares at 365p each through UBS and Numis. It previously held 20 per cent of the firm when it floated on the stockmarket in 2006.
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Heart of Africa reaches £75m after six months
22 May 2008
New Star's Heart of Africa fund is within weeks of closing after reaching £75m of its £100m capacity.
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Home Buyer launches direct product system
23 May 2008
Home Buyer Systems has launched a new system which enables mortgage advisers to source direct-to-lender products as well as intermediary-based products from the whole of market Defaqto database.
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Homeowners choosing to rent rather than sell says RICS
22 May 2008
Droves of buy-to-let homeowners are choosing to rent out their properties after struggling to sell them in the current market, according to the Royal Institute of Chartered Surveyors.
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House price crash threat to Rock repayment
22 May 2008
Northern Rock executive chairman Ron Sandler has admitted that a serious fall in house prices could significantly dent its plan to repay its £27bn Bank of England loan by 2010.
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HSBC rebrands asset management business
22 May 2008
HSBC is rebranding its asset management business to HSBC Global Asset Management.
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IFA Investment Solutions - All-Weather Kick-Out Plan
23 May 2008
IFA Investment SolutionsAll-Weather Kick-Out Plan
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Income's evaluation equation
22 May 2008
Enhanced by their unwavering popularity over recent years, income funds have been the subject of great debate.
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Ingenious Asset Management - UK Equity Fund
23 May 2008
Ingenious Asset ManagementUK Equity Fund
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Investec explores Mena
23 May 2008
Investec Asset Management has established an offshore Middle East and North Africa fund to complement its Africa, Pan-Africa and Africa Middle East funds.
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JLT swoops for Orbit management team
22 May 2008
Jim Carlton, chief executive of Orbit Benefits and six senior members of his team have quit the firm to set up a platform with JLT Benefit Solutions.
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Johnson quits L&G for PruProtect
22 May 2008
Legal & General senior operations manager for claims and underwriting Stuart Johnson is leaving the firm to join PruProtect.
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JPM looks to the consumer
23 May 2008
JPMorgan Asset Management has introduced a thematic fund that invests in companies that provide consumer goods and services.
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Latent fraud still on books
22 May 2008
The FSA is warning that more mortgage fraud is waiting to be uncovered after several years of lenders focusing on quantity rather than quality of business.
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Lawson says 100% Omo not possible
22 May 2008
Standard Life head of pensions policy John Lawson says Hargreaves Lansdown's call for 100 per cent of investors to exercise their open market option is not "physically possible".
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Leading by example
22 May 2008
It may sound like stating the obvious to point out that when the chips are down, most institutions, and in particular those with strong links to banking, will happily bite the hand that has previously fed their bottom line.
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Legal & General Investment Management warns of UK recession
21 May 2008
Legal & General Investment Management strategist James Carrick has warned of the possibility of a UK recession.
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Legg Mason expands income fund range
23 May 2008
Legg Mason has expanded its fund range with the launch of two income funds, including a global equity income fund.
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Legg Mason Investments - Legg Mason Global Equity Income Fund
22 May 2008
Legg Mason InvestmentsLegg Mason Global Equity Income Fund
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Legg Mason Investments - Legg Mason Global Multi Strategy Bond Fund
22 May 2008
Legg Mason InvestmentsLegg Mason Global Multi Strategy Bond Fund
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Liontrust soars on takeover move
22 May 2008
Liontrust shares rose by over 10 per cent on Tuesday after it confirmed an early takeover approach. The share price opened at 280p and was 307.5p at close.
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Man Investments - Man Vision
22 May 2008
Man InvestmentsMan Vision
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Merchant Investors sees 17% bond sale increase
23 May 2008
Merchant Investors says its investment bond sales have increased by 17 per cent over the last quarter.
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Mergers look to raise returns
22 May 2008
New Star is planning to merge two of its single-country funds after poor uptake and performance.
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Meteor launches property recovery plan
22 May 2008
Meteor Asset Management has launched a new kick out plan linked to the performance of a property index.
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Mike Heenan
22 May 2008
Stafford Railway Building Society is over 130 years old and, in terms of size, it is one of the smallest in the UK. It employs just 16 people and has about 17,050 mortgages. But in this case, size is no measure of success.
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Money Marketing Markets: ‘Oil bears next for US endangered species list?'
23 May 2008
Oil prices surged to yet another record high this week with Brent Crude touching $135.14 a barrel on Thursday.
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Mott says inflection point pending for UK economy
23 May 2008
PSigma income manager Bill Mott believes that an inflection point is becoming more likely as the government looks to stave off a possible recession.
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MPC voted 8-1 to maintain base rate at 5%
21 May 2008
Eight members of the Monetary Policy Committee voted in favour of maintaining bank rate at 5 per cent this month.
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'Multi-tie firms will have to go whole of market for survival'
22 May 2008
Ernst & Young insurance leader Shaun Crawford says any multi-tie organisations will have to seriously consider moving to a whole of market offering if their businesses are to survive.
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Nationwide BS sees 40% fall in net residential lending
22 May 2008
Nationwide Building Society has seen a fall of 40 per cent in net residential lending to £6.7bn, down from £11.2bn in 2007.
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NDFA boasts clever take on tax
23 May 2008
NDFARegular Fixed Income Plan April 08
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Newton says good time for bondholders
22 May 2008
Newton Investment Management director Paul Brain believes now is a positive time for bondholders, with attractive valuations and a paradigm shift in the way banks run their businesses.
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NFU Mutual launches investor incentives
27 May 2008
NFU Mutual has launched a range of incentives to encourage medium and long-term investment.
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'No justice in watchdog naming and shaming'
22 May 2008
Lord Hunt's recommendation for the Financial Ombudsman Service to name the worst-performing companies would push companies to uphold complaints regardless of fault, says a former FOS adjudicator.
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No more Mr Nice guy as King warns of rocky road
22 May 2008
Hopes of further interest rate cuts have been dashed after Bank of England governor Mervyn King warned that inflation could reach 4 per cent this year.
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Now it is the banks' turn to bite bullet
22 May 2008
The editorial of May 8 was a balanced, comprehensive and insightful view, except for the first sentence. IFAs will always will be under a clear and present danger with regulation in its current form. That does not have to be a lament, merely a recognition of the facts. Bear in mind that, under Howard Davies, we had depolarisation. It would appear that we are now to have polarisation back again.
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NU draws down
23 May 2008
Norwich UnionIncome Drawdown Plan
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NU reverts to monthly property valuations
22 May 2008
Norwich Union has moved back to monthly valuations on its property fund range following a slowdown in redemptions.
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ONS data blunder drastically under-estimates pension income
23 May 2008
A blunder by the Office for National Statistics may have under-estimated private pensions income by four times their true level.
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Open verdict
22 May 2008
You often wonder why the public are cynical about financial services companies and then something comes along and you realise why and it is pretty simple really.
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Pada adds three to board
22 May 2008
The Personal Accounts Delivery Authority has appointed Alison Wright, Paul Hewitt and Chris Willford as non-executive directors.
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Page in move to Liontrust
22 May 2008
Liontrust Asset Management has appointed former New Star marketing director Rob Page.
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Pause for thought
22 May 2008
The governor of the Bank of England says inflation is here to stay and monetary easing must cease. If we thought the second half of 2007 and early 2008 were tough, then, according to Mr King, we ain't seen nothing yet. Worse, these testing times seem likely to persist: the "Nice decade" is behind us and interest rate cuts are now officially shelved.
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Pension education projects' funding extended until March 2009
27 May 2008
Funding for a series of pensions education projects will be extended until March 2009, Pensions Minister Mike O’Brien has announced today.
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Pension review's Lord Lipsey new chairman of Financial Services Consumer Panel
23 May 2008
Former pension review leader Lord Lipsey is to become the new chairman of the Financial Services Consumer Panel from June 2.
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Perfect partners
22 May 2008
I took a long time to be convinced of the necessity for platforms because our back-office system, 1st's Adviser Office, already gave us a pseudo-platform where we could easily report on a client's diverse holdings.
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PFS offers support with equity release
22 May 2008
The Personal Finance Society has created a member support package for advisers who offer equity-release products.
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Pick and mix accelerated returns from Blue Sky
23 May 2008
Blue Sky Asset Management has brought out a second issue of the asset allocation accelerated growth plan, a capital-protected bond that provides geared returns linked to the investor’s choice of up to four stockmarket indices.
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Playing the financial field
22 May 2008
The current economic environment is leading to a surge in mortgage networks diversifying into other areas of financial services.
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Popular tracker choice from A&L
23 May 2008
Alliance & LeicesterTwo Year Base Rate Tracker
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PosSol achieves record income
22 May 2008
Positive Solutions saw its highest-ever monthly gross commission and fees in April at 11.3m. New business turnover was 37.6m in the first quarter, driven largely by pension advice.
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Pru gives flexibility through FundSipp
22 May 2008
Prudential has launched a flexibly priced FundSipp through Cofunds alongside its full Sipp offering. There are no set-up or admin costs until 2009.
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Real world of mortgage fees
22 May 2008
It was a former Conservative Chancellor who suggested he could see the green shoots of recovery while the UK was still in recession in the early 1990s. He was vilified although, in hindsight, he was probably correct.
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Remittance man
22 May 2008
This week I would like to start with a consideration of the fundamentals of the remittance basis.
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Savings account will be needed for a mortgage
22 May 2008
Wriglesworth Consultancy managing director John Wriglesworth believes lenders could restrict mortgages to people who have a savings account with them.
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Securitisation sector may never recover
22 May 2008
Liquidity in the mortgage market is unlikely to return until the end of 2009.
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Security alert
22 May 2008
Over the last decade, laptops have increasingly become a key component of an IFA's equipment. More and more firms are arming their advisers with mobile technology to give them access to detailed client records during client visits. Even those advisers who are not comfortable with using a laptop in front of a client will still use portable technology to give them access to client information while on the move.
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'Self-cert and fast track lenders must take some responsibility'
22 May 2008
Mortgage advisers have told the FSA that the self-certification and fast-track mortgage markets can encourage fraud.
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Shadow pensions minister rejects Australian-style compulsory contributions
21 May 2008
Shadow pensions minister Nigel Waterson has rejected the idea of Australian-style compulsory pension contributions if the Conservatives get into power.
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Share schemes surge by 600,000
27 May 2008
A big increase in the popularity of employee share plans means approximately 5 million UK employees are currently participating in schemes, says ifs ProShare.
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Skandia - Spectrum 3
22 May 2008
SkandiaSpectrum 3
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Skandia - Spectrum 4
22 May 2008
SkandiaSpectrum 4
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Skandia - Spectrum 5
22 May 2008
SkandiaSpectrum 5
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Skandia - Spectrum 6
22 May 2008
SkandiaSpectrum 6
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Skandia - Spectrum 7
23 May 2008
SkandiaSpectrum 7
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Skandia - Spectrum 8
23 May 2008
SkandiaSpectrum 8
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Skandia offers full spectrum
23 May 2008
Skandia has brought out a range of six multi-manager funds that have been designed for different risk profiles.
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SLI opens retail door on GARS
23 May 2008
Standard Life Investments has made its global absolute return strategies fund available to retail investors.
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Special effect
22 May 2008
What a difference a day makes. Since March 17, the day the markets digested the news of the Federal Reserve's intervention in the Bear Stearns situation, the FTSE All Share is up by almost 15 per cent. The European high-yield market has risen by some 7 per cent. Even the financials heavy iBoxx Sterling Corporates index is up by about 2 per cent. This experience highlights the difficulty of calling the bottom of markets. It has also prompted managers of funds in the IMA UK corporate bond ...
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Standard Life Investments - Global Absolute Return Strategies Fund
22 May 2008
Standard Life InvestmentsGlobal Absolute Return Strategies Fund
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Sub-prime problems cost Thinc £900k fine by FSA fine
22 May 2008
The FSA has fined Thinc Group £900,000 for sub-prime mortgage record-keeping failings.
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SVM introduces lower-risk portfolios
23 May 2008
Boutique manager SVM Asset Management has responded to market volatility by introducing two multi-asset funds of funds, SVM balanced managed and SVM cautious managed, for investors with lower risk profiles.
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Swiss Re exec to head up Finma
22 May 2008
Swiss Re executive Patrick Raaflaub was yesterday named head of Switzerland’s new regulator of banking, insurance and money laundering, the Financial Markets Supervisory Authority.
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The blame game
22 May 2008
Tough times call for lots of finger-pointing and few, especially those at the top, manage to escape the firing line unscathed.
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The Commerce Centre closes to new enquiries
21 May 2008
The Commerce Centre will no longer be accepting any new enquiries for commercial, bridging or residential secured loans with immediate effect.
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The Way Group - Way MA Cautious Portfolio Fund
23 May 2008
The Way GroupWay MA Cautious Portfolio Fund
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Thinc reviews multi-tie model
22 May 2008
Multi-tied network Thinc has confirmed that it is reconsidering its distribution strategy in light of the retail distribution review.
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Tiner to join FSSC board
22 May 2008
Former FSA chief executive John Tiner is to join the board of the Financial Services Skills Council.
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TISA - Why wait until 2012 for auto-enrolment?
27 May 2008
TISA, the Tax Insentivised Savings Association is calling on the Government, employers and the pensions industry to introduce automatic enrolment into workplace pensions to the UK’s workforce as soon as is practical.
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Towers Perrin says multi-tied advisers deliver better service
22 May 2008
Towers Perrin has hit out at the FSA’s retail distribution review, claiming that tied or multi-tied advisers can deliver a better service than whole of market advisers.
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Towry says fees save clients 4%
22 May 2008
Towry Law says it can pass up to 400 basis points back to each of its clients by not charging commission.
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True diversification from Schroders
23 May 2008
SchrodersSchroder Diversified Target Return Fund
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Turning Japanese
22 May 2008
Investors have been waiting for the re-emergence of Japan, when its equity market once again begins to deliver sustained returns.
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Twin-track strategy for Moneyextra
22 May 2008
Moneyextra is to develop itself as an information hub, lead generator and wealth management tool for advisers and brokers to complement its consumer offering.
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UBS launches £7.8bn rights issue
23 May 2008
UBS has revealed a SwFr16 billion (£7.8bn) rights issue in a bid to repair its balance sheet.
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Union helps with network problems
22 May 2008
The IFA Defence Union has relaunched a service for advisers having legal problems with a network. It can be found at www.networkmember.co.uk
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Unique approach from Blue Sky
23 May 2008
Blue Sky Asset ManagementAccelerated Recovery Plan
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Upturn in investor confidence
22 May 2008
Hargreaves Lansdown's latest investor confidence index shows markedly improved optimism in the stockmarket compared with six weeks ago.
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Vasilieff is set for platform launch
22 May 2008
Former Selestia sales and marketing director Bill Vasilieff's new wealth management platform will launch this autumn as Novia Financial.
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Widows faces court challenge over deferred annuity guarantee advice
27 May 2008
A 13-year pensions holiday was turned into a massive deficit within three years of Scottish Widows advising a switch out of deferred annuity guarantee contracts alleges The Actuarial Review Company (ARC), the consultancy leading a legal challenge against the provider.
