Money Marketing
23 April 2008
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Bankhall guidance for ARs moving to DA
24 Apr 2008
Bankhall has set up a new guidance service aimed at helping appointed representatives move to directly authorised status.
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Invesco Perpetual capitalises as bond market reshapes - Cofunds Q1 stats
23 Apr 2008
Cofunds suggests bonds may have lost their place as a mainstream investment choice with sales remaining low over the past six months.
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UK chief Thomas departs RGA
24 Apr 2008
RGA head of UK business Perry Thomas has left the reinsurer after nine years.
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“No RDR opportunities for corporate intermediaries” - Fisher
24 Apr 2008
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A fair share for all
24 Apr 2008
New defined-benefit transfer value regulations have eventually been set out following a lengthy consultation process. These replace the current calculation method, known as GN11.
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A late intervention
24 Apr 2008
Edeus chief executive Michael Bolton has made the searing accusation that Government and Bank of England inaction has turned a liquidity crunch in the UK into a full-blown credit crunch.
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A shaw thing
24 Apr 2008
Annie Shaw is a freelance financial journalistThe Ant and Dec of personal finance are no more. Jason Wyer-Smith is to fly solo, leaving Scott Mowbray to look after the media relations shop at Virgin Money. The signs were ominous when Virgin sent out mouse mats to members of the financial press with just Scott's name on as contact. Now Jace has formally announced that he is launching an enterprise to be known as 42 PR.
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A&L chairman Sir Derek Higgs dies unexpectedly
29 Apr 2008
Alliance & Leicester chairman Sir Derek Higgs died unexpectedly yesterday afternoon.
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Abbey profits jump to £235m in Q1
29 Apr 2008
Abbey has seen profits jump by 17 per cent from £210m in 2007 quarter one to £235m in 2008.
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Abbey shelves buy to let
24 Apr 2008
Abbey has withdrawn from buy-to-let lending temporarily to focus on its residential mortgage business.
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Absolute alpha role for Osborne
24 Apr 2008
BlackRock has appointed Nick Osborne to co-manage its 800m UK absolute alpha fund with Mark Lyttleton.
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Account rules blamed for bank write-downs
24 Apr 2008
Home Funding chief executive Tony Ward is calling for a change in the accounting rules which he claims have caused many of the recent writedowns in the bank sector.
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Adviser Fund Index - I have a theme
24 Apr 2008
Themed funds have become increasingly popular in the last few years as investors attempt to find the next big story. Thematic investing is not a new concept but specific funds are more visible now than in the past.
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Aegon launches guaranteed onshore bond
23 Apr 2008
Aegon Scottish Equitable has launched a guaranteed onshore bond product to protect consumers against stockmarket volatility.
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Algebra adding up for New Star
24 Apr 2008
New Star's multi-manager team is holding a specialist Middle East and North Africa fund across five of its multi-manager funds.
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AMI addresses crunch questions
24 Apr 2008
The Association of Mortgage Intermediaries has published a white paper on credit crunch solutions for the industry. It suggests looking at new areas of funding such as sovereign wealth funds.
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Andy Briscoe
24 Apr 2008
Life Trust chief executive Andy Briscoe believes his new company has a genuine social role to fulfil in helping to change the post-retirement marketplace.
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Annuity sales to double in 3 years, says Just Retirement
28 Apr 2008
The UK annuity market will almost double in size over the next three years, Just Retirement expects.
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Arrears levels rising, says B&B
24 Apr 2008
Bradford & Bingley says arrears levels continued to rise in quarter one.
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Ashton Bradbury to relinquish UK select mid cap fund in Old Mutual reshuffle
28 Apr 2008
Old Mutual Asset Management flagship fund manager Ashton Bradbury is to step down as manager of the £507m UK mid-cap select fund at the end of 2008.
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AWD Chase de Vere confirms platform providers
28 Apr 2008
AWD Chase de Vere has confirmed the first seven providers to be housed on its new investment platform following the recent tender process.
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Axa's Sipp customers now able to invest in hotel rooms
23 Apr 2008
Axa is to offer its Sipp customers the chance to buy hotel rooms in the hotel room investment company GuestInvest.
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B&CE appoints head of HR and business services
24 Apr 2008
B&CE Benefit Schemes has appointed Christine Webb as its new head of HR and business services.
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Bereaved family attacks Windsor's 'casual' service
24 Apr 2008
Windsor Life has come under fire after a request by the daughter of a deceased policyholder for information about the policy went unanswered for two months.
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Big downturn seen in investors' confidence
24 Apr 2008
Investor confidence took a significant dip last month, according to Hargreaves Lansdown's index of investor risk appetite.
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Billingham on move to FP Advance
24 Apr 2008
Friends Provident national sales manager Steve Billingham is to join FP Advance as managing director in July.
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Billy Mackay quits Skandia for AJ Bell
29 Apr 2008
Skandia head of marketing Billy Mackay is leaving the firm to join Sipp provider AJ Bell.
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Bonds boost Pru as L&G sales fall
24 Apr 2008
Prudential saw total group business increase by 14 per cent from £639m to £729m in the first quarter of this year compared with 2007.
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Boutique battle
24 Apr 2008
Schroders managing director of UK retail Robin Stoakley says that circumstances are now favouring the big fund firms and that the boutiques are going to find themselves in a fight.
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Broker banned for systems open to risk
24 Apr 2008
The FSA has banned Northern Ireland mortgage broker John Paul Keay for failing to have systems in place to prevent mortgage fraud.
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Broker sees BTL soar as landlords seek advice
24 Apr 2008
Buy-to-let mortgage broker The Money Centre says it has had its third busiest month ever in March after securing over £186m business.
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Broker Talkback
24 Apr 2008
Are you worried the Financial Ombudsman Service could make mortgage advisers the scapegoat for borrowers who get into difficulty?
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Brown in the soup
24 Apr 2008
It must be terrible to be Gordon Brown right now. After all, here is a man who built up a reputation over the past decade as the Iron Chancellor, a man in control not just of the UK economy but almost every other Government department he cared to interfere with.
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Building a position
24 Apr 2008
By my reckoning, you need to be at least 40 years old to have a clear memory of what happened during the last recession, so many people are perhaps in denial about how bad things could get in the housing market. Nothing embodies this better than the TV property programmes, which seem to live in a wonderland of ever rising prices. Many people are going to be shocked.
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Building Societies saw gross lending drop in March
29 Apr 2008
Gross lending for building societies dropped to £3,631m in March compared to £5,439m in the same period last year.
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By Helen Pow...
24 Apr 2008
Former Conservative Chancellor Ken Clarke opened the refurbished offices of IFA firm Four Corners Financial Management last week.
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Callaghan loses funds in Gartmore restructure
24 Apr 2008
Gartmore fund manager Tim Callaghan is the latest name to be considering his future at the firm as the European desk is restructured.
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Canadian wealth manager Dundee moves into UK through institutional market
24 Apr 2008
Canadian wealth management company Dundee Wealth expects interest from multi-managers and other institutional investors to help it make inroads into the UK adviser market.
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Cavanagh profits leap 49 per cent
23 Apr 2008
Cavanagh Group saw its profits jump by 49 per cent, from £1,046,000 to £1,556,000, for the year ended December 2007.
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Chaser claims Hunt has vendetta against sector
24 Apr 2008
Brunel Franklin has hit out at Lord Hunt's call for a crackdown on claim-chasers, suggesting he has a "vendetta" against the sector.
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Chaser understands issues better than FOS
24 Apr 2008
In response to last week's article on claim-chasers moving into whole of life, I must stress that your editorial line is one-sided and not representative of the true picture.
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Checks show wet signature works
24 Apr 2008
Bright Grey has paid out on 85 per cent of life claims and 82 per cent of critical-illness claims in the past year.
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Clarkson Hill profits down 44% but confident of its model
25 Apr 2008
Clarkson Hill says increased turnover and growth in adviser numbers demonstrates a solid business model, despite reporting a 44 per cent fall in pre-tax profits.
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Cofunds widens fee test
24 Apr 2008
Cofunds is extending its fee option pilots scheme to 25 other firms but remains uncertain on a launch date for the new payment model.
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Concern over Bright Grey's online system
24 Apr 2008
Insurance application outsourcing firm MorganAsh says it is worried over the quality of Bright Grey's online application system after the provider admitted that large numbers of applicants are having to make material changes to their forms.
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Consultation on EU insurance admin
24 Apr 2008
The Treasury and the FSA have launched a consultation on the UK's proposals to reduce the admin burden on insurance firms operating in the EU, aimed at encouraging more effective group supervision across EU insurers and providing better value for consumers.
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Darling announces tax working group
29 Apr 2008
The Government has announced plans to form a working group with businesses.
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Death of pension pioneer Neil Marsh
24 Apr 2008
Hornbuckle Mitchell managing director Neil Marsh died last week aged 47 after a two-and-a-half-year battle with cancer.
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Deep impact
24 Apr 2008
Alexander Hall managing director Andy Pratt says the FSA and the Chancellor must share the blame for the Rock slide and that getting under the surface of a high-impact business and addressing the risks outweighs yet more paper pushing. He denounces Mervyn King's obsession with inflation and calls for a more proactive approach to loosen up the liquidity crisis. Interview by Gregor Watt
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Edeus changes course with arrears management move
24 Apr 2008
Edeus is to enter the arrears management market after re-engineering itself into an "asset management" service business for the UK mortgage market.
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Edeus to cut 50 jobs as it stops lending
25 Apr 2008
Edeus has confirmed it will be temporarily withdrawing from originating new mortgage loans and has cut 50 jobs as a result of the decision.
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Farquhar wants volatility sector
24 Apr 2008
London & Capital head of UK retail distribution Jamie Farquhar believes the Investment Management Association should introduce a volatility-based sector to allow multi-managers greater investment flexibility.
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Fidelity expands Asia offering with emerging markets fund
24 Apr 2008
Fidelity has brought out an emerging Asia fund to be run by Teera Chanpongsang.
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Fight to regain trust
24 Apr 2008
We are still at the early stages of the RDR and there is a lot of detail to be thrashed out following the FSA's interim feedback statement.
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Floor plan
24 Apr 2008
Advertisements for commercial property funds have been conspicuous by their absence in recent times. It is not surprising, given the pasting that many funds been handed out over the past year.
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Flowers ends bid for Friends
24 Apr 2008
JC Flowers has withdrawn its 3.5bn acquisition offer for Friends Provident.
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Former Bestinvest director Hoban sets up new firm
24 Apr 2008
Former Bestinvest pension director Paul Hoban is making a return to the financial services industry with the launch of new IFA firm London Wealth Management.
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FOS battle hits Court of Appeal
28 Apr 2008
The Financial Ombudsman Service spent three days in the Court of Appeal last week in a bid to defend its decision-making practices and charging structure.
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FOS says lenders face brunt of complaints
24 Apr 2008
The Financial Ombudsman Service says it believes that the overwhelming majority of mortgage complaints it will receive will involve lenders, not intermediaries.
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Foundation to count costs of living longer
24 Apr 2008
Leading industry figures are involved in a not-for-profit organisation called the Life Trust Foundation to raise awareness of the financial consequences of increased longevity.
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Fox warns lenders are on collusion course
24 Apr 2008
The Society of Mortgage Professionals has warned that lenders could face accusations of collusion in withdrawing deals and raising charges.
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Friends Prov new business up after strategic review
29 Apr 2008
Friends Provident's new life and pensions business increased by 11 per cent from £223m in the first quarter 2007 to £247m in the first quarter this year.
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FSA appoints former Barclays FD as senior adviser
23 Apr 2008
The FSA has appointed former Barclays group finance director Naguib Kheraj as senior adviser to the Supervisory Enhancement Programme.
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FSA considers return of maximum commission
24 Apr 2008
The FSA is investigating the possibility of introducing some form of maximum commission agreement as part of the retail distribution review.
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FSA produces major RDR concessions in paper that champions whole of market advice
29 Apr 2008
The FSA has left the door open for front ended remuneration and suggested that all advisers will have to operate on a whole of market basis as part of an interim RDR paper that provides significant concessions to the IFA community.
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FSA warns firms to tighten clients' data security
23 Apr 2008
The FSA is warning adviser firms to ensure they have systems and controls in place to protect their clients’ data from financial crime.
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Function junction
24 Apr 2008
I still have not heard an adequate description of wraps and what they are supposed to do.
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FundsNetwork Sipp investors flock to cash
24 Apr 2008
The UK money market was the popular sector for Fidelity FundsNetwork Sipp investors over the last tax year.
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Gartmore moves on
24 Apr 2008
Gartmore has announced it is restructuring three of its major desks.
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Gross lending at 26bn in March
24 Apr 2008
Gross mortgage lending rose by 5 per cent to 26.3bn in March, says the Council of Mortgage Lenders, up from 25bn in February, but down by 17 per cent from 31.7bn in March 2007.
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Group risk business up 5 per cent says Swiss Re
24 Apr 2008
Group risk business grew by around 5 per cent across the board, according to this years Group Watch report from Swiss Re.
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Growing down to Rio
24 Apr 2008
Jim Slater, who is probably the most successful British investment guru, is an expert at spotting trends. He believes that investing in Brazil is the best way to profit from the ongoing strength in agricultural commodities, which he believes will be a highly profitable area.
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Gulf of expectation between trustees and employers on wind-up says Aon
23 Apr 2008
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Hard times
24 Apr 2008
With property prices falling in some areas, you would think that there was an opportunity for struggling first-time buyers trying to get on the housing ladder. Unfortunately, while prices may become more affordable, the rapidly diminishing number of high loan to value mortgages means the majority of first-time buyers will not be able to take advantage of this situation.
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Hargreaves Lansdown attacks ABI for ditching OMO rules
24 Apr 2008
Hargreaves Lansdown has launched a stinging attack on the ABI for ditching its 10-day turnaround standard for open market annuity processing saying it has abandoned its commitment to customer service.
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Hasley places new fund at far end of risk spectrum
24 Apr 2008
Multi-asset boutique Hasley Investment Management is starting a best ideas fund of funds in September that will take a more aggressive investment approach than its existing multi-manager funds.
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HBOS considering £4bn rights issue
28 Apr 2008
HBOS is believed to be considering a rights issue in a bid to raise up to £4bn of capital.
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HBOS plans £4bn rights issue
29 Apr 2008
HBOS is planning a rights issue to raise £4bn of extra funding from existing shareholders in order to strengthen its capital base.
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Heads in the sand
24 Apr 2008
Although there is no easy solution to the ongoing financial crisis, the Chancellor and his cohorts have so far been all spin and no action. During a recent BBC interview, Gordon Brown responded to questioning by glossing over the issues and replying that the slump in the UK housing market is "containable" and the country is better placed to cope than in previous slowdowns.
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HMRC fights to tax trusts of over-90s
24 Apr 2008
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Home joins Jupiter for product role
24 Apr 2008
Jupiter has appointed Juliette Home as product development director.
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House prices fall for seventh consecutive month
28 Apr 2008
Annual house price changes in England and Wales decreased by a further 1.7 per cent in March, according to the Land Registry.
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House purchase approvals slump in March, says BBA
23 Apr 2008
Approvals for house purchase are at the lowest level since September 1997, according to statistics from the British Bankers’ Association.
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Human casualties
24 Apr 2008
On balance, I really enjoy my job but currently I am throwing my toys out of the pram daily. Every day, my head spins attempting to establish where the market is and every day all I get is a constant stream of emails from lenders telling me, if I am lucky, that I have until the close of business that day to get the application in before rates get withdrawn and then go up.
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Hunt saboteur
24 Apr 2008
Much has been said about Lord Hunt's review of the Financial Ombudsman Service although many important aspects also appear to have been overlooked.
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IFA growth continues and tech takes centre stage
25 Apr 2008
It’s been a successful week for a handful of IFA firms with Cavanagh Group posting a 49 per cent profit increase in this week’s annual results.
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IMA calls for compensation limit for bank depositors
24 Apr 2008
The Investment Management Association has called for a £50,000 compensation limit for bank depositors in a bid restore confidence in the system.
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Impact for Thoresen and Wesleyan
24 Apr 2008
Aegon chief executive Otto Thoresen has joined the ABI's customer impact panel.
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Inside Track enters administration
29 Apr 2008
Property investment firm Inside Track has been put into administration with effect from yesterday.
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Invesco merging US funds to focus on bigger firms
24 Apr 2008
Invesco Perpetual is to merge its 20m US smaller companies and 8m US aggressive funds into its 294m US equity fund.
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Lack of contacts could ruin ambition
24 Apr 2008
I read recently that Clerical Medical are boldly predicting that in just a few years time they will be the UK's number three life office.
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Laundry list
24 Apr 2008
From an adviser perspective, antimoney-laundering checks must be one of the most frustrating parts of the business process.
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Leaman is leaving ABI for consultant trade body
24 Apr 2008
The Association of British Insurers director of corporate affairs Alan Leaman is to leave to become chief executive of the Management Consultancies Association.
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Lenders in a fix on remortgages
24 Apr 2008
Market conditions have led to an increasing number of borrowers opting to move on to their lender's standard variable rate rather than remortgage elsewhere.
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Life Trust hires compliance and risk director
23 Apr 2008
Life Trust Insurance has hired Andy Cheetham to be compliance and risk director.
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London Scottish to close lending arm
25 Apr 2008
London Scottish Bank has confirmed it will be closing its mortgage lending arm.
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LV= says 'friendly' rebrand is a success
24 Apr 2008
LV= group chief executive Mike Rogers believes the company's rebrand has been successful in moving it away from a "stuffy" corporate image back to its friendly society roots.
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Majority decisions
24 Apr 2008
Iwas chatting to a good friend of mine who happens to be a long-standing IFA. Over the last 20 years or so, he has built up a business looking after the finances of many high-earning professionals and entrepreneurs.
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Majority decisions
24 Apr 2008
Iwas chatting to a good friend of mine who happens to be a long-standing IFA. Over the last 20 years or so, he has built up a business looking after the finances of many high-earning professionals and entrepreneurs.
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Milburn joins legal firm
24 Apr 2008
Former Progress from Royal Liver IFA marketing manager Andy Milburn has moved to law firm Goldsmith Williams as head of marketing.
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Miner to major
24 Apr 2008
Last week was pretty bumpy in the market as we digested the news that the mighty General Electric had faltered in the profit stakes. Speaking, as I was, at a seminar in the Jockey Club after the FTSE 100 Index had had two days of 1 per cent plus swings - first down, then up - it was all too easy to draw racing analogies. But as we have seen on so many occasions recently, a downward spike brings out the bargainhunters. Wednesday last week almost felt like a bull market had returned.
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Ministry rejects wealth warning for chasers
24 Apr 2008
The Ministry of Justice has snubbed Lord Hunt's call for claim-chasers to be forced to put wealth warnings on their advertising.
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MLP offers buyout deal with complaint handling service
24 Apr 2008
Adviser firm MLP is offering retiring IFAs an acquisition package where it buys their client base and offers a complaint handling service for any future claims.
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Money Marketing Markets: ‘Banks, bookies and beer’
25 Apr 2008
The FTSE looks set to end the week strongly after a turbulent five days dominated by the news of Royal Bank of Scotland’s record-breaking £12bn rights issue.
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Money Marketing Retirement Planning Summit: Waterson warns personal accounts must not become next T5
29 Apr 2008
Conservative shadow pensions minister Nigel Waterson has warned that if issues such as means-testing are not addressed then pension personal accounts could be the next Terminal 5 debacle.
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Mortgage broker calls for AMI action over lenders' treatment of brokers
28 Apr 2008
The Mortgage Practitioner sole trader Danny Lovey has sent an open letter to the Association of Mortgage Intermediaries, calling for action over the way lenders are treating the intermediary market.
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Mortgage company diversifies
24 Apr 2008
Vision Network, formerly The Mortgage Times, has received FSA permission to sell pension, investment and protection products and plans to double the number of member firms this year.
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Mott shuns bonds over yield concerns
24 Apr 2008
PSigma income manager Bill Mott says he will not invest in bonds despite the attractive valuations seen in some areas recently.
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MPC voted 6-3 for 0.25 per cent cut
23 Apr 2008
The Monetary Policy Committee voted 6-3 for a 0.25 per cent cut in interest rates this month with one member wanting an immediate 0.5 per cent reduction.
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MPs attack TPR over approach to money purchase
24 Apr 2008
The Pensions Regulator has made a slow start in the regulation of money purchase schemes, an influential committee of MPs has found.
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Nationwide cuts LTV to 90% for intermediaries
28 Apr 2008
Nationwide has now capped its maximum loan to value to 90 per cent for intermediaries.
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Neptune adds to sales and admin teams
25 Apr 2008
Neptune has added to its sales and fund administration teams with the appointment of Dimitris Zografos, Philip Horton and Neal Gilbert.
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New wealth management brand launched
23 Apr 2008
Hoyland Financial Management and Columbus Financial Advisers have joined forces to create wealth management brand HFM Columbus Group.
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Newcastle BS launches Day 1 BTL bridging product
25 Apr 2008
Newcastle Building Society has launched a new Day 1 bridging product which is designed to provide a fast bridging option for buy to let investors.
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Northern Rock finalising job cut plans
25 Apr 2008
Northern Rock is believed to be finalising plans to make 2,000 staff redundant over the next three months.
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Norwich Union brand to be phased out
29 Apr 2008
The Norwich Union brand is to be phased out over the next two years in favour of Aviva.
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Norwich Union increases LTV on equity release products
28 Apr 2008
Norwich Union has increased the loan to values on all of its fixed rate and cash reserve option lifetime mortgage products.
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Norwich Union's investment sales fall 34 per cent
25 Apr 2008
Norwich Union's investment sales fell 34 per cent from £657m in the first three months of 2007 to £436m in the same period this year.
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Novice landlords to stop buying new properties in 2008
23 Apr 2008
Nearly two thirds of brokers believe first time landlords would cease purchasing new properties in the coming year, according to new research by The Mortgage Works.
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NU sees a small rise in commercial property
24 Apr 2008
Norwich Union has seen the first rise in commercial property since December last year but says it is too soon to say if it has bottomed out.
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Offshore governance service Probity launches
23 Apr 2008
Isle of Man-based Acuity Consultants is launching an online fund governance service this month.
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OFT wins bank charges test case
24 Apr 2008
The Office of Fair Trading has won the first stage of its test case against bank charges.
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One third of advisers expect drop in pension investment this year
23 Apr 2008
Nearly a third of advisers expect clients to save less into their pensions this year due to the current market conditions, according to MetLife research.
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Openwork to buy point of sale platform
25 Apr 2008
Adviser network Openwork has signed a deal with software supplier Distribution Technology to build a front office point of sale platform.
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Parmenion in talks with advisers on bespoke platforms
24 Apr 2008
Parmenion Capital Partners says it is in discussions with big adviser firms about providing a bespoke white-labelled investment platform.
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Pearl Group appoints Gavin Stewart to run combined asset management arm
23 Apr 2008
Pearl Group has announced the appointment of Resolution asset management chief executive Gavin Stewart to manage the firm’s combined asset management business.
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Pension a promise, not a commodity says O’Brien
24 Apr 2008
Non-insured bulk-buyouts are a positive development but pose new risks requiring new regulations, says pensions minister Mike O’Brien.
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Performance arts
24 Apr 2008
A growing problem is how to compare performance after fees. Total expense ratios have become a standard way of comparing funds on a cost basis and although there are flaws in the system, at least it provides some point of commonality.
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Persimmon postpones start of scheduled new sites
24 Apr 2008
Persimmon has postponed the commencement of scheduled new sites until the mortgage market improves.
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Peter Le Beau joins ejsSearch board
25 Apr 2008
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Pitt joins Focus Solutions to develop 360 sales
24 Apr 2008
Former Sesame head of proposition development Chris Pitt has joined technology firm Focus Solutions as lead business consultant.
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Polar Capital plans UK absolute return fund
28 Apr 2008
Polar Capital is to launch a UK absolute return fund under the management of Philip Hardy.
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Polarised lenses
24 Apr 2008
We are expecting the retail distribution review interim statement next Tuesday and we should prepare ourselves for a change or two from what we were told and read in Jane 2007 with the 111-page RDR first discussion paper.
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Praemium appoints new managing director
29 Apr 2008
Præmium has appointed John Martin as the group’s new managing director.
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Price falls mask the bigger picture
24 Apr 2008
Earlier in the month, the Intern- ational Monetary Fund predicted that UK growth will slow from 3 per cent in 2007 to 1.6 per cent in both 2008 and 2009.
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Principles mean FSA covers its own back
24 Apr 2008
I refer to a recent thought- provoking article in Money Marketing on treating customers fairly.
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Product matters
24 Apr 2008
Not only did David Shapiro put his money where his mouth was when it was announced he would be appointed manager of the newly launched Collins Stewart UK focus fund in February, so did his friends and family.
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Protection awards will recognise innovation
24 Apr 2008
Protection Review editors Peter Le Beau and Andy Couchman have added the category of most innovative product to their annual awards.
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Protests as £50bn rescue freezes out the specialist lenders
24 Apr 2008
The Council of Mortgage Lenders, the Intermediary Mortgage Lenders' Association and mortgage brokers have slammed the Government for excluding specialist lenders from its £50bn rescue package.
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Providers do not understand e-comm needs - Origo adviser poll
24 Apr 2008
Some 60 per cent of advisers think product providers do not understand their e-commerce needs, research by e-standards body Origo suggests.
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RBS in £12bn rights issue
24 Apr 2008
Royal Bank of Scotland Group is launching a £12bn rights issue in a bid to reposition its capital ratios and strengthen its capital base.
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RDR Interim Report: 15-year long-stop rejected
29 Apr 2008
The RDR Interim Report has quashed advisers’ calls for a 15-year long-stop.
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RDR Interim Report: Advice and sales channels blurred, says IFP
29 Apr 2008
The Institute of Financial Planning has slammed the FSA’s proposals to divide the financial services sector into advice and sales channels.
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RDR Interim Report: Advice gap could worsen, warns Aegon
29 Apr 2008
The FSA's proposals distinguishing between advice and sales risk leaving millions of people without access to professional financial advice, says Aegon.
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RDR Interim Report: Aifa warns advisers to continue RDR dialogue
29 Apr 2008
The Association of Independent Financial Advisers has warned the IFA market that it must continue to make its voice heard ahead of the next RDR paper in October.
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RDR Interim Report: BBA slams separation of advice and sales
29 Apr 2008
The British Bankers' Association has attacked the FSA's RDR Interim Report claiming the proposals will limit consumers' access to advice.
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RDR Interim Report: CII supports call for higher professionalism
29 Apr 2008
The CII Group says it welcomes the RDR Interim Report’s proposal to increase the levels of professionalism in the retail distribution market.
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RDR Interim Report: Fidelity praises outcomes but calls for quick implementation
29 Apr 2008
Fidelity has welcomed the changes proposed in the RDR interim report and has called for quick implementation to prevent the industry going around in circles.
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RDR Interim Report: No read-across to mortgages due to market conditions
29 Apr 2008
The FSA has ruled out introducing the Retail Distribution Review to the mortgage market in light of the current market conditions in the UK mortgage market.
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RDR Interim Report: Protection may fall in sales category
29 Apr 2008
The FSA has floated the idea of extending the RDR to protection, although suggests it should fit in the sales category rather than the advice section.
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RDR Interim Report: Providers to raise professionalism game, says pi Financial
29 Apr 2008
Pi Financial welcomes the new benchmark of diploma equivalent and the time to achieve it but says providers also need to raise their game.
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RDR Interim Report: Standard Life supports separation of advice and sales
29 Apr 2008
Standard Life is applauding the FSA’s proposals for separate advice and sales channels, adding that it simplifies the overly complex tiers and definitions originally proposed.
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RDR Interim Report: Which? welcomes clarity over sales and advice
29 Apr 2008
Which? says the separation of advice and sales in the FSA's RDR Interim Report should increase clarity for consumers.
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'Rescue bid is too late'
24 Apr 2008
Edeus chief executive Michael Bolton has attacked the Government and the Bank of England for acting too late to avert a full-blown banking crisis.
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Richard Philbin quits F&C
29 Apr 2008
F&C Asset Management multi-manager co-head Richard Philbin is leaving the firm after seven years to join Axa.
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Ringing the changes
24 Apr 2008
The clamour for sector changes seems to have reached a crescendo recently, with lots of suggestions fired in the IMA's direction.
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Rooftop to close
24 Apr 2008
Rooftop Mortgages, the UK specialist subsidiary of US bank Bear Stearns, is set to close after withdrawing its entire range last Friday.
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Royal Liver's new business premiums drop
28 Apr 2008
Royal Liver's new business premiums for 2007 were slightly down on 2006.
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Schroders is set to add diversified target fund
24 Apr 2008
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See you later aggregator
24 Apr 2008
Aggregator services have changed the face of insurance in the past few years. Brands such as moneysuper-market and confused.com have become familiar to buyers of car or home insurance and some have branched out into other financial areas, such as life insurance and critical-illness cover.
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Sell-off sees bonds bounce back
24 Apr 2008
Sell-offs in the corporate bond market are providing investment opportunities in the financials sector, says PSigma Investment Management.
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Seven-year jail terms for £100m Ponzi fraud
24 Apr 2008
Two accountants at the centre of a major investment fraud have each been jailed for seven and a half years.
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Skandia's Brett Williams quits UK role for Wealth Management Unit
25 Apr 2008
Skandia UK business unit chief executive Brett Williams is quitting his role to head up the firm's new Wealth Management Unit, set to launch on August 1.
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Small caps could face problems in right issues
24 Apr 2008
T Bailey fund manager Jason Britton warns that the small-cap sector could be hit by rights issues, following Royal Bank of Scotland's decision to raise £12bn from shareholders.
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Standard Life ponders full lifestyle wrap
24 Apr 2008
Standard Life is considering extending its wrap to offer insurance, debt and mortgage products.
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Steady bond and pensions business but decline in unit trusts for SJP
29 Apr 2008
St James's Place says it is pleased with its performance in the first quarter of 2008 despite difficult market conditions.
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Stoakley says boutiques face challenge
24 Apr 2008
Schroders managing director of UK retail Robin Stoakley believes fund boutiques will have a fight on their hands to keep up with bigger competitors due to the current market conditions.
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Stock markers
24 Apr 2008
Jim Slater, who is probably the most successful British investment guru, is an expert at spotting trends. He believes that investing in Brazil is the best way to profit from the ongoing strength in agricultural commodities, which he believes will be a highly profitable area.
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Strategic withdrawal
24 Apr 2008
Last week, I reminded you all - as if you needed reminding - of the adviser dilemma or opportunity that is the bonds versus collectives debate.
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Survey shows nurse calls cut non-disclosure
24 Apr 2008
A nurse tele-interview is up to 5.5 per cent more effective in reducing non-disclosure compared with a GP report, according to MorganAsh.
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Survival of the brokers
24 Apr 2008
Charles Darwin said: "It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change."
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Swiss Re calls for group risk innovation
24 Apr 2008
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The fee market
24 Apr 2008
Mortgage arrangement fees have been increasing steadily over the last two years but the last few months have seen these charges rocket.
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Things can only get better
25 Apr 2008
The market is desperate for some good news and while last week’s announcement of the Bank of England’s £50bn rescue package could help reinvigorate the market in the near future, the pain is really hitting the house building market.
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Third dimension
24 Apr 2008
Aegon and Standard Life have both set out plans to introduce variable annuities this year.
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Tip the balance sheet on mortgages
24 Apr 2008
Accounting rules are worsening the liquidity crisis, says Home Funding chief executive Tony WardThe credit crunch has had everyone looking for a fall guy. In the UK, politicians and bankers have been particularly quick to point the finger abroad in an attempt to distance themselves from any imminent economic ill.
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Tongue-tied multi-ties
25 Apr 2008
The RDR may see some multi-ties getting all tongue-tied about their status if reports about next week’s interim paper prove true.
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Torrents of spring
24 Apr 2008
For a number of years, economies around the world have enjoyed interest rates that have been held too low for too long, allowing ever increasing amounts of debt to be taken on by individuals and companies. This debt overhang is starting to unwind. In the face of market falls, one might be tempted to become a little more optimistic but the fact remains that the financial market issues now troubling governments, central bankers, companies and private individuals are many in number and complex ...
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Tough conditions hit Barclays in March, says chief exec
24 Apr 2008
Barclays group chief executive John Varley has revealed that group profit for the first quarter will be below the same period in 2007 after tough trading conditions in March.
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Trimming the fat
23 Apr 2008
Last week Invesco Perpetual decided to take the plunge on its struggling US range after announcing its intention to merge the trio of funds down to a single vehicle.
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Trouble brewing
24 Apr 2008
Bad news in financial services is a little like our British weather - you can see it coming for ages but it still catches us unawares. We all stand around and twitter about how bad such and such is, we even write about it in trade papers but still nobody ever takes notice. Then when it does go belly up, it is simply brushed aside with breath-taking arrogance.
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UK companies “failing to document reward strategies”
23 Apr 2008
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When will these Windsor woes cease?
24 Apr 2008
Windsor Life has once again come under fire for poor service after a request for information by the daughter of a deceased policyholder went unanswered for two months.
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Which? condemns using orphan money to pay misselling fines
24 Apr 2008
Which? has attacked providers using their inherited estates to pay misselling costs, claiming it is like "allowing people to commit a crime and avoid a fine".
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Witan Investment Trust adds UK and European mandates
29 Apr 2008
Witan Investment Trust has awarded both Artemis and Marathon Asset Management £75m to run active UK equity mandates, while also launching a £30m European mandate for Paris-based Varenne Capital Managers.
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Women worst hit by auto-enrolment - Bee
25 Apr 2008
The pensions system requires urgent change to ensure women have access to full basic state pension, says Steve Bee, head of pensions strategy at Scottish Life.
