Money Marketing
22 April 2010
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£12M pyramid fraud went on for five years
22 April 2010
Full details from court of the £12m fraud trial of ex-Burns Anderson adviser Grahame Whitehead.
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A new curve in the learning road
23 Apr 2010
“Of all the issues that cause debate in the retail distribution review, the most contentious is qualifications.”
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Action group to fight FSCS
22 April 2010
The Keydata Victims Action Group is rallying investors to call for a judicial review of the Financial Services Compensation Scheme’s position of not compensating non-Isa investments.
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Action group won't sue IFAs
22 April 2010
A newly formed Keydata action group has struck a deal with the Financial Services Compensation Scheme which allows members with eligible claims above the £48,000 limit to retain their rights to pursue recoveries against third parties.
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Add your expertise to execution-only
26 Apr 2010
Lee Jones reports that executiononly is forecast to increase after the RDR but IFAs can use their knowledge and technology to guide clients to their choices
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Adviser Fund Index
22 April 2010
The world of closed-ended funds may not be all glitz and glamour but the retail distribution review could push it towards centre stage.
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Advisers left in limbo plan to take legal action against Park Row
21 Apr 2010
A group of former Park Row advisers has set up a fighting fund to launch legal action against the firm.
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Alico picks Kirsch as UK chief executive
21 Apr 2010
Former AWD Chase de Vere chief executive Mike Kirsch has been appointed as Alico chief executive for UK and Ireland.
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American scale
26 Apr 2010
James Smith spends 10 minutes talking to Ignis head of US equities Terry Ewing.
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An education
22 Apr 2010
“It isn’t often that I confess to any sins, so please take note when I tell you this - there are times when I can be incredibly callow.”
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Annuity Exchange annuity service helps IFAs cut cost
22 Apr 2010
Annuity Exchange has set up a whole of market enhanced ann-uity service in a bid to help IFAs reduce the cost of advice without compromising on the rate.
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April fuels rise
23 Apr 2010
April may be the cruellest month, says Henderson’s Bill McQuaker, but he says it is also seems to be the month when investor sentiment is at its most optimistic.
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April is the cruellest month
26 Apr 2010
The pre-Budget report tax changes hit home this month and here are some strategies to ease the pain.
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Aviva to shut DB
22 April 2010
Aviva is looking to close its staff final-salary pension scheme to new contributions as well as closing the RAC final-salary scheme to new entrants, which face a combined deficit of £3bn.
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AWD Chase de Vere aims to add 30 advisers
22 April 2010
Laverick: ‘Growth plans’
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Balancing act
26 Apr 2010
Governments need to tackle their deficits without damaging fragile economic growth
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Brokers angry as Rock sets up direct site with 'advice'
22 April 2010
Brokers have hit out at Northern Rock’s decision to launch a new direct-only mortgage website which claims to offer “helpful advice” to borrowers.
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Build on what we have
26 Apr 2010
Paul Farrow says the Tories should improve the regulatory system, not dismantle it.
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CBI says Nest charges will put off savers
22 April 2010
The Confederation of British Industry has attacked the Nat-ional Employment Savings Trust’s “high and complicated charges”, warning that they could deter millions of savers.
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Change of perception
26 Apr 2010
“Emerging markets may have emerged in many investors’ minds but the debt of these countries still retains the perception of being high risk.”
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Cloud spotter's guide
23 Apr 2010
Brian Tora says where now is the difficult question facing investors.
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Cost of confusion
22 Apr 2010
Steve Bee says a lack of clarity poses problems for pension reforms.
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Dampier baffled by popularity of 'boring' property
23 Apr 2010
Hargreaves Lansdown head of research Mark Dampier believes property has become “a boring asset class” and is surprised at the amount of money moving into the sector.
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Drawdown clients facing 55% charge
22 Apr 2010
Income drawdown investors look set to be hit with a 55 per cent unauthorised payment charge if they buy an annuity or switch providers before 55.
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Dumbing down is dumb
22 Apr 2010
Former PFS president Rob Reid hits out at new Aifa qualification.
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Exchange aims to help with buying and selling IFA firms
22 April 2010
Bankhall is launching a new service to support adviser firms looking to buy other IFA businesses, as well as those leaving the market.
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Fraudster tarnished IFAs' image
22 Apr 2010
A judge has slammed ex-Burns Anderson adviser Grahame Whitehead for tarnishing the reputation of IFAs, as he was jailed for 10 years for a £12m pyramid fraud.
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FSA fines for penny share firm and chief executive
22 April 2010
The FSA has fined London stockbroker Hythe Securities and its senior director Meenaz Mehta a total of £235,000 after the firm’s “aggressive sales culture” led to penny share failings.
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FSA probes Goldman
22 April 2010
The FSA is launching an investigation into Goldman Sachs International in relation to US Securities and Exchange Commission allegations of fraud.
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Funding regulatory reform
21 Apr 2010
Aifa director general Chris Cummings explains why he is calling for fundamental reform of FSA funding.
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Good heir day
23 Apr 2010
Using trusts can help to administer and protect an estate
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Guiding hand
23 Apr 2010
Rob Clifford expects to see upheaval across the mortgage sector regardless of which party gets into power.
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Head of sales Anders leaves Bupa Income Protection
22 Apr 2010
Bupa Individual Protection head of sales Mark Anders has left the company.
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Higher ground
23 Apr 2010
The RDR rules may be a stepping stone to a higher minimum level
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HMRC tells kick-out firms to wait for its Isa review
22 April 2010
HM Revenue & Customs has told Isa managers to take “no further action” to identify any holdings of kick-out plans following a warning about their Isa eligibility in a recent industry bulletin.
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How Scotland can flourish with the SNP
23 Apr 2010
The ’slash and burn approach’ to investment in Scotland is massively irresponsible on the part of the London parties, says the SNP’s Stewart Hosie.
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Jail for £34m fraud
22 April 2010
Kevin Foster was last week jailed for 10 years for running an unauthorised investment business and stealing investors’ funds through his £34m KF Concept scam.
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Legal & General tests annuity with advisers for mass market
22 Apr 2010
Legal & General is working on a simple asset-backed annuity aimed at the mass market.
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LibDem surge could boost gilt yields
23 Apr 2010
Pattullo: ‘LibDems not priced in’
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Life offices increase stake in Tenet to 90%
22 Apr 2010
Standard Life, Aegon, Aviva and Friends Provident have bolstered their collective stake in Tenet Group.
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Lloyds and SocGen join structured product body
22 April 2010
Lloyds Banking Group and Société Générale Corporate & Investment Banking have joined the UK Structured Products Association as members.
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Matthews to chair skills council at salary of £30k
22 April 2010
Friends Provident chief executive Trevor Matthews has been appointed chairman of the Financial Services Skills Council and is expected to take a salary of £30,000 for the role.
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MGM takes the lead to reinvent mutuality
22 Apr 2010
MGM Advantage chief executive Chris Evans is predicting that other mutuals will follow the company’s lead and launch flexible annuity products.
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MM Leader: Now Lifemark compensation looms for IFAs
22 Apr 2010
The Serious Fraud Office has initiated yet another couple of turns of the screw in relation to the Keydata saga.
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Moulton takes stake
22 April 2010
Better Capital chairman Jon Moulton has taken a major stake in Largemortgage loans.com along with two other entrepreneurs. He held a stake in John Charcol before Towergate Financial acquired the brokerage.
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Network Data and four other firms defaulted by FSCS
22 April 2010
The Financial Services Compensation Scheme has declared five mortgage advice firms in default, including failed mortgage network Network Data.
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Offshore fund influx could mean absolute sector split
23 Apr 2010
Industry experts have warned that the Investment Management Association may have to split up the absolute return sector if a number of offshore vehicles move into it.
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Ouf of Context
22 April 2010
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Paragon may be close to a return to new lending
22 Apr 2010
Stockbroker Arden Partners has told investors that buy-to-let specialist Paragon could be “weeks away” from a return to new lending.
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Partnership buys half of Sesame referral specialist
22 Apr 2010
Partnership has bought a 50 per cent stake in Sesame Bankhall Group’s retirement referral arm Gateway Specialist Advice Services.
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Partnership set for release return
22 Apr 2010
Partnership is set to move back into the equity-release market, claiming it is “a logical” step for the business.
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Paul Armson
23 Apr 2010
Chief executive of new venture Alternative Financial Advisers helps IFAs become lifestyle financial planners which he believes is a vital capability for advisers’ future success. Interview by Lee Jones
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Paying for Keydata
22 Apr 2010
Money Marketing/YouGov monthly 300-IFA benchmark survey
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Poll deadlock to see rise in annuity rates
23 Apr 2010
A hung Parliament is likely to have a positive impact on annuity rates, as uncertainty in the stockmarket would push gilt prices down and yields up, according to annuity experts.
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Preferential pricing deals at Elevate
23 Apr 2010
Axa Elevate is offering some adviser firms more competitive prices for using the platform, depending on factors such as average case size submitted by firms and the number of registered individuals.
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Product go-ahead was vital for MGM Advantage
22 Apr 2010
MGM Advantage chief executive Chris Evans has admitted the firm may have had to close to new business if the FSA had not given its new asset-backed annuity the green light.
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Professional protection
26 Apr 2010
Alun Beynon, head of sales and distribution for protection at Aegon, says making connections with firms of professionals such as accountants and solicitors can help financial advisers in the much neglected area of business protection
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Property goes with the flow
26 Apr 2010
Chris Salih reports on the property resurgence
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Rebate conditions
22 Apr 2010
CMS Cameron McKenna associate Lindsay Concannon examines last week’s Money Marketing scoop on advisers paying rebates to employers.
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Royal Liver fires finance director
22 April 2010
Royal Liver has sacked its finance director George McGregor, claiming that he sanctioned unauth-orised payments.
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SFO extends probe to cover Lifemark
22 April 2010
The Serious Fraud Office has widened its Keydata probe and is now investigating the activities, control and ownership of Luxemburg-based life settlement vehicle Lifemark.
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Sharp rise in inflation
22 April 2010
The consumer price index jumped to 3.4 per cent in March, up from 3 per cent in February , while the retail price index rose to 4.4 per cent, up from 3.7 per cent.
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Show me the money
22 April 2010
Administration
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Significant steps
22 Apr 2010
The Treasury is considering changes that could make buying annuities from small pension funds easier
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Survey shows increase in ARs
23 Apr 2010
Analysis by Which Network reveals Pink Home Loans saw the biggest net loss of appointed representatives during the first quarter of this year.
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Tenet adds RDR support programme
22 Apr 2010
Richards: ‘Misunderstanding’
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The C Factor
23 Apr 2010
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The end of geography
26 Apr 2010
”What is the point of comparing BP with Shell? You have to compare them with Exxon, Total and other large integrated oil companies, regardless of location.”
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The long wait
22 April 2010
Pensions
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The manifestos in full
22 April 2010
Money Marketing takes a detailed look at what the three manifestos have to say regarding financial services and general economic issues.
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The pick of property
26 Apr 2010
“I have not been a great fan of property for some time. That said, I did feel we had pretty much reached the bottom of the market last year, so I do think it is worth considering.”
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Third firm fined over switch risk
22 April 2010
The FSA has fined London-based Robin Bradford Life and Pension Consultants £24,500 for exposing customers to unacceptable levels of risk.
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Wall of silence on RDR cost
22 April 2010
THE EDITOR’S LETTER OF THE WEEK
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Who was consulted on RDR?
22 April 2010
Regulation
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Wholesale changes
23 Apr 2010
Paul Thomas reports on the Conservative proposals that have created major concern in the mortgage market.
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Wizard programme on website
22 April 2010
StructuredProductReview. com, the comparison and education site, has linked with Legal & General, Barclays Wealth and WizardLearning.com to subsidise an online training programme for IFAs.
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Would a new regulator be worth the upheaval?
21 Apr 2010
Suzanne MacDonald is partner and head of financial services regulation at law firm TLT
