Money Marketing
24 June 2009

  • Manager focus: Stephan Mller

    29 Jun 2009

    Those who see gold as a safe haven in times of crisis or as an inflation hedge recognise only part of its attractiveness, says Stephan Mller, the director of product management and development at Julius Baer.

  • 15% Of prime loans in negative equity

    25 Jun 2009

    Fifteen per cent of prime UK mortgages by value are in negative equity, according to Fitch Ratings. It expects this figure to increase to 34 per cent of all prime mortgages if house prices fall in line with its expectations of a 30 per cent decline peak to trough.

  • 1st - The Exchange announces integration between Adviser Office and FundsLibrary

    24 Jun 2009

    1st - The Exchange has announced the integration of its Adviser Office and online fund data platform FundsLibrary.

  • Abbey For Intermediaries - Two Year Tracker

    25 Jun 2009

    Abbey For IntermediariesTwo Year Tracker

  • Abbey introduce ‘one strike’ mortgage application policy

    24 Jun 2009

    Abbey has tightened up its mortgage application process whereby advisers’ applications will now be rejected on the first declination.

  • Acute fund from Acuity Capital

    26 Jun 2009

    Acuity CapitalCF Acuity Real Active Management Fund

  • Adviser Fund Index

    25 Jun 2009

    The surge of retail money which began flowing into corporate bonds towards the end of 2008 shows little sign of going into reverse.

  • Aegon five for life replacement revealed

    24 Jun 2009

    Aegon’s new secure lifetime income product, which launches next week, has reduced the income guarantee by 1.5 per cent for some customers, compared to the firm's previous five for life plan.

  • Aegon launches UK equity income fund

    25 Jun 2009

    Aegon Asset Management is launching a UK equity income fund on June 30.

  • Age rating

    25 Jun 2009

    Can I please correct a potentially misleading statement attributed to Friends Provident at the end of the article "Clarity begins at home"?

  • Aifa calls for review of decumulation market

    29 Jun 2009

    The Association of Independent Financial Advisers is calling for an independent review of the decumulation retirement market in order to increase consumer understanding.

  • AIG to repay £15bn to Fed by flotation of Alico and AIA

    25 Jun 2009

    American International Group is to float its two life insurance units, Alico and AIA, on the Asian stock exchange in order to repay £15bn in debt owed to the Federal Bank of New York.

  • An absolute mess?

    29 Jun 2009

    Advisers are calling for a clean-up of the absolute return sector as funds continue to trail behind their benchmarks.

  • Aon analysis shows tough task for pension savers

    25 Jun 2009

    Nine months of sustained market gains are needed to restore pension assets to 2007 levels, according to Aon Consulting.

  • Arc Capital & Income - Emerging Markets Plan

    26 Jun 2009

    Arc Capital & IncomeEmerging Markets Plan

  • ASA raps claim-chaser over SMS marketing campaign

    25 Jun 2009

    The Advertising Standards Authority has upheld the second complaint against a claim-chasing firm within a week, following last week's ruling against a separate company.

  • Aviva orphan cash blackout angers advocate

    25 Jun 2009

    Aviva policyholder advocate Clare Spottiswoode has hit out at Aviva for forcing her to blank out key figures in her report on the reattribution of its inherited estate.

  • Aviva research highlights post retirement fears

    24 Jun 2009

    Research from Aviva has found that six in 10 people over the age of 50 worry that their pensions and savings are not enough to support them after retirement.

  • Baillie Gifford - Greater China Fund

    25 Jun 2009

    Baillie GiffordGreater China Fund

  • Bank plan blasted

    25 Jun 2009

    FSA chairman Lord Turner has warned against calls for a banking system based on smaller banks, saying it would still have systemic problems.

  • Bankers warn of impact

    25 Jun 2009

    The British Bankers' Association has questioned if the FSA's response to the banking crisis will strike the right balance between financial stability and allowing banks to support the economy.

  • Banks move FTSE higher

    29 Jun 2009

    The FTSE opened at 4,239 this morning with banks stronger in early trades.

  • Barclays Wealth generates growth from unfamiliar source

    26 Jun 2009

    Barclays WealthLight Energy Commodity Plan

  • Barclays Wealth sees shift away from FTSE linked structured products

    24 Jun 2009

    Barclays Wealth is seeing increased investor appetite for structured products linked to indices other than the FTSE 100.

  • Bates' claims could fall on the FSCS

    24 Jun 2009

    Future misselling claims against Bates Investment Services may fall upon the Financial Services Compensation Scheme after the firm went into administration as part of the Money Portal management buyout.

  • Bates' claims could fall on the FSCS

    25 Jun 2009

    Future misselling claims against Bates Investment Services may fall upon the Financial Services Compensation Scheme after the firm went into administration as part of the Money Portal management buyout.

  • BBA Conference: Bank aid may need a decade, says Lib Dems

    30 Jun 2009

    Liberal Democrat shadow chancellor Vince Cable has warned that bank aid may have to continue for 10 years if taxpayers are to receive maximum rewards.

  • BBA Conference: BBA warns of over-regulation

    30 Jun 2009

    The British Bankers Association has warned that an over-regulation of the UK banking sector may hit consumers.

  • BBA Conference: BoE calls for 100% cover for deposits

    30 Jun 2009

    The Bank of England has called for the creation of an insurance fund that would cover 100 per cent of any retail deposits.

  • BBA Conference: EU may force Lloyds RBS break-up

    30 Jun 2009

    Semi-nationalised banks RBS and Lloyds Banking Group may have to be broken up due to unfair competition advantages, says the EU competition commission.

  • BBA Conference: Tories hint at returning BoE pre-’97 powers

    30 Jun 2009

    The Tories have hinted that they may grant the Bank of England more powers with regard to micro-economic regulation if they were to get into power.

  • BBA Conference: TSR aided the crunch, says Myners

    30 Jun 2009

    City minister Lord Myners has hit out at the market’s total shareholder revenue focus as a reason for the credit crunch.

  • BBA Conference: Turner dismisses "FSA/Bank/Treasury soap opera"

    30 Jun 2009

    Lord Turner has called for a debate around the reassessment of the tripartite authorities’ responsibilities and dismissed reports of a rift between himself and Bank of England governor Mervyn King.

  • Bennett to run flagship Gartmore fund

    25 Jun 2009

    Gartmore has unveiled plans to pass on the management of Roger Guy's flagship 1.5bn European select opportunities fund to John Bennett who has been appointed senior portfolio manager European equities.

  • Big issue splits Chancellor and the governor

    25 Jun 2009

    Chancellor Alistair Darling and Bank of England governor Mervyn King have clashed again on the issue of whether big banks should be split up.

  • BoE economist calls for quantitative easing exit strategy

    24 Jun 2009

    Bank of England chief economist Spencer Dale has called for the Monetary Policy Committee to begin planning a quantitative easing exit strategy.

  • Bond sales to slow in switch to equities

    25 Jun 2009

    Fidelity International is predicting a slowdown in corporate bond sales towards the latter part of this year.

  • Cann slams 'rubbish' FS degrees that fail to meet career needs

    25 Jun 2009

    Institute of Financial Planning chief executive Nick Cann has hit out at the structure of financial services degrees and says many do not offer students what they need to fulfil future financial planning roles.

  • Case of the missing rights

    25 Jun 2009

    David Buskell's letter (Money Marketing, June 11) was right on the button - there are no human rights for IFAs when it comes to Financial Ombudsman Services case fees.

  • Cazenove adding to absolute fund range

    25 Jun 2009

    Cazenove is planning to build on its UK absolute target fund with the launch of an absolute UK dynamic fund.

  • Chancellor may increase FSA's role in financial stability

    26 Jun 2009

    Chancellor Alistair Darling is reportedly planning to strengthen the role of the FSA on financial stability which he has set out in a banking white paper due out shortly.

  • Changing ideas

    25 Jun 2009

    Skandia global best ideas celebrated its three-year anniversary earlier this month, having marginally outperformed the sector average.

  • CII tightens guidelines for corporate chartered status

    29 Jun 2009

    The Chartered Insurance Institute has unveiled tighter guidelines for its corporate financial planners scheme.

  • CML sees more positive outlook for net lending and repo figures

    25 Jun 2009

    The Council of Mortgage Lenders has reduced its forecast for repossessions this year by 13 per cent from 75,000 to 65,000.

  • Copper canyon

    25 Jun 2009

    What is China up to? Earlier this year, they were bidding up for raw materials. Now it seems they have switched off buying orders and have even turned sellers in some cases - like copper. China is by far the biggest importer and consumer of copper, so rumours the state reserve board is prepared to sell up to 250,000 tonnes of the metal to bring the price back should not be ignored. But it does not mean the rally in commodity prices is over.

  • Corporate bonds continue to top sales, IMA stats

    29 Jun 2009

    The corporate bond sector has continued to be the most popular UK domiciled net retail sector, according to the latest figures from the Investment Management Association.

  • Costs of adviser charging "grossly underestimated", says Ernst & Young

    26 Jun 2009

    Ernst & Young claims the FSA has "grossly underestimated" the costs to the industry of shifting to an adviser charging model in its Retail Distribution Review consultation paper, published yesterday.

  • Cowley takes on OMAM strategic bond funds

    24 Jun 2009

    Old Mutual Asset Managers head of fixed interest Stewart Cowley has taken over as manager of the group’s global strategic bond and dynamic bond funds.

  • Derivatives to face tougher regulation

    29 Jun 2009

    Derivatives are expected to face tougher regulation under new plans expected from the Treasury this week, according to reports.

  • Deutsche Bank launches ETF-invested funds

    24 Jun 2009

    Deutsche Bank has launched a range of vehicles that invest in Exchange Traded Funds (ETFs) of different asset classes. There are three versions of the DB Platinum Dynamic ETF Selector funds, each with a different risk profile.

  • Don't bash the brokers

    25 Jun 2009

    I have despaired over recent weeks as the Council of Mortgage Lenders, the FSA, then the Intermediary Mortgage Lenders Association and the National Housing Federation all put the boot into the mortgage intermediary market.

  • Ecclesiastical screens

    25 Jun 2009

    Rob Hepworth has plenty to be positive about. A senior fund manager at ethical investment house Ecclesiastical Investment Management, he has been one of the few fund managers to have benefited from the economic storm that has wrought havoc through the industry and wider economy over the last two years.

  • Editor’s view: FSA puts RDR on the right track

    26 Jun 2009

    Yesterday’s RDR consultation paper has much to commend it and the review now has the potential to be a positive force for IFAs and consumers.

  • Employers pocket £4.5bn saving by closing final salary schemes

    30 Jun 2009

    Employers are saving up to £4.53bn a year in pension contributions as millions of employees are withdrawn from final salary pension schemes, according to MGM Advantage.

  • Equity release advisers launch alliance

    26 Jun 2009

    Eighteen equity release advisers have come together to create the Independent Equity Release Adviser Alliance.

  • Equity release could be key for LTC

    25 Jun 2009

    Safe Homes Income Plans has predicted that the impending crisis in elderly care funding will force equity release into the mainstream.

  • Ex-policemen are jailed for 6m 'high-yield' Ponzi con

    25 Jun 2009

    Two former policemen are among fraudsters sentenced to jail for a 6.1m Ponzi scam after a Serious Fraud Office and Cheshire Police investigation.

  • Fear of unknown unknowns over absolute return

    25 Jun 2009

    Brewin Dolphin divisional director Stephen Ford has raised concerns about the ability of absolute return funds to meet client expectations.

  • Financial soap opera

    26 Jun 2009

    This week Bank of England governor Mervyn King stoked the increasingly public spat with the Treasury after agreeing that the communication channels between the Tripartite are a mess.

  • Fitch hits UK building societies with further downgrades

    25 Jun 2009

    Fitch has downgraded several more building societies’ debt ratings as well as some of their individual ratings.

  • Forestall rules will hit transfers with 20% tax

    25 Jun 2009

    High-earning pension savers will lose their contribution history and could be hit with a 20 per cent tax charge if they transfer to another pension provider over the next two years.

  • Four firms face FSA action over mishandling arrears

    25 Jun 2009

    The regulator has referred four firms to enforcement for mishandling mortgage arrears.

  • FSA annual report: Sants declines bonus - fines rocket 520%

    24 Jun 2009

    The FSA's annual report has revealed that chief executive Hector Sants has declined a £130,000 bonus and that financial penalties have skyrocketed 520 per cent from £4m to £27m over the past financial year.

  • FSA bans Chase UK director

    26 Jun 2009

    The FSA has banned the compliance director of former mortgage packager Chase UK for failing to adequately supervise the firm, leaving it open to fraudulent applications.

  • FSA faces protection backlash

    30 Jun 2009

    Protection experts have hit out at the FSA after it suggested the number of investment advisers selling protection products in order to bypass the commission ban could soar following the release of its RDR consultation paper last week.

  • FSA in talks with Serious Fraud Office over Keydata

    30 Jun 2009

    The FSA is in talks with other regulators including the Serious Fraud Office regarding £103m in missing assets and a number of tax irregularities in some of Keydata’s products.

  • FSA needs to treat its own customers fairly

    25 Jun 2009

    The Financial Services Authority needs to treat those it regulates fairly and equally if it is to gain and retain the trust and co-operation of regulated firms. It needs that trust and co-operation for it to do its job effectively. But in at least two important areas, the FSA has acted or is proposing to act unfairly to IFAs - namely in relation to the no long-stop rule and the new professional qualifications for IFAs.

  • FSA widens its Omo probe to cover Sipps

    25 Jun 2009

    The FSA has extended its review of the open market option from personal and stakeholder pensions to Sipps.

  • FSA will retain responsibility for financial regulation

    29 Jun 2009

    Business secretary Lord Mandelson is today expected to confirm that financial regulation will remain with the FSA rather than transferring to the Bank of England.

  • FSA's definition of 'independence' could hamper high-end IFAs, warns firm

    29 Jun 2009

    The FSA’s new definition of independence could pose problems for investment-led IFAs due to their investment process, warns independent wealth consultancy No Monkey Business.

  • FTSE cautious at open

    24 Jun 2009

    The FTSE opened higher at 4,238 today but lacked conviction from investors ahead of this afternoon's meeting with members of the UK monetary policy committee who are due to testify on the inflation report.

  • Fund companies get choice on offering interim Isa rise

    25 Jun 2009

    The Investment Management Association has won its appeal for Isa managers to have the choice of whether or not to offer the £3,000 increase in allowance for the over-50s.

  • Gartmore appoints ex-F&C manager Newman to UK team

    25 Jun 2009

    Gartmore has appointed Luke Newman as portfolio manager to its UK team.

  • Global bank losses amount to $25 trillion

    26 Jun 2009

    Total global losses from the financial crisis amount to $25 trillion (15 trillion), according to an estimate from the Bank of England. Balance sheets of banks internationally remain weak and leverage high, leaving them sensitive to future shocks.

  • Global fund role

    25 Jun 2009

    Liontrust Asset Management has appointed GAM investment director Ross Hollyman as global equity fund manager.

  • Global warning

    25 Jun 2009

    From the lead-up to and aftermath of the recent G20 meetings, it is clear the developed world is seeking to ensure as many International Financial Centres as possible sign up to a broad range of commitments, largely embodied in the OECD standards on transparency and the exchange and provision of tax information.

  • Godiva goes for competitive price

    26 Jun 2009

    Godiva MortgagesBuy-To-Let 5.4% Five Year Fixed

  • Government seeks to build £1bn venture capital fund

    29 Jun 2009

    The Government is to create a UK innovation investment fund to invest in technology-based businesses with high growth potential.

  • Govt Mortgage Rescue Scheme has helped just six households

    30 Jun 2009

    The number of struggling homeowners helped by the Government’s Mortgage Rescue Scheme was only six from January to May this year, figures revealed today.

  • Gravis looks to PFI

    26 Jun 2009

    Specialist UK infrastructure advisers Gravis Capital Partners has established a fund for experienced and high-net-worth investors that invests in the Government’s private finance initiative projects such as hospitals and schools.

  • Green shoots

    25 Jun 2009

    Much of the recent press coverage marking ethical investing focuses on the 25th anniversary of the launch of the F&C Stewardship growth fund.

  • Hargreaves questions future use of 'independent' tag

    29 Jun 2009

    Hargreaves Lansdown says it will have to consider whether to maintain its independent tag as a result of the FSA's retail distribution review draft proposals.

  • High society pensions

    25 Jun 2009

    Having just received a voting package from Nationwide, and considering the current talk about MPs' final-salary pensions, I thought I should ask Nationwide what type of pension scheme they have, particularly for the chief executive Graham Beale.

  • HMRC to investigate bank tax avoidance

    29 Jun 2009

    HM Revenue & Customs has launched a consultation paper into a code of practice on tax for banks.

  • Home straight

    25 Jun 2009

    Is it up, up and away for the housing market at last? It may be a tad early to get carried away right now but there are certainly reasons to be cheerful. House prices rose 2.6 per cent in May, according to the Halifax, and there is mounting evidence of improving sentiment on the economy and an increasing expectation that growth will return at some point this year.

  • HomeBuy scheme falters as MyChoice cash runs out

    25 Jun 2009

    Government figures reveal the number of homes purchased under HomeBuy initiatives fell by more than 1,150 per cent between March and April this year as funding for the MyChoice HomeBuy scheme dries up.

  • HSBC cuts tracker charges

    29 Jun 2009

    HSBC Global Asset Management has announced it will cut the annual management charge (AMC) on its seven index tracking funds down to 0.25%.

  • HSBC mulls Fohf launch

    25 Jun 2009

    HSBC Global Asset Management is looking at launching a retail fund of hedge funds.

  • Income every six months from Blue Sky

    26 Jun 2009

    Blue Sky Asset Management has brought out a structured product that provides income of 4.5 per cent every six months during a five year term, depending on the performance of the FSTE 100 index.

  • Infocomp's parent firm suspends shares ahead of £7.3m rights issue

    24 Jun 2009

    GBST, the parent company of platform technology provider Infocomp, has suspended trading of its shares on the Australian stock exchange ahead of a planned £7.3m rights issue.

  • Infocomp's parent raises £2.1m in new capital

    30 Jun 2009

    GBST, the parent company of platform technology provider Infocomp, has successfully raised £2.1m in new capital.

  • IntelliFlo launches web-based mortgage sourcing system

    26 Jun 2009

    IntelliFlo has released its new integrated web-based mortgage sourcing system within its front, middle and back office solution, Intelligent Office.

  • Investec appoints co-head of fixed income

    24 Jun 2009

    Investec Asset Management has hired a credit hedge fund manager to co-head its fixed income team and run a global long/short fund for the group.

  • IoM moves to automatic exchange of information

    25 Jun 2009

    The Isle of Man is moving to automatic exchange of information to align itself with EU rules on bank account secrecy by 2011.

  • Jubilee Financial Products - Fixed Returns Plan Issue Three

    26 Jun 2009

    Jubilee Financial ProductsFixed Returns Plan Issue Three

  • Jubilee Financial Products - Monthly Income Plan Issue One

    26 Jun 2009

    Jubilee Financial ProductsMonthly Income Plan Issue One

  • Jubilee Financial Products - Monthly Income Plan Issue One

    26 Jun 2009

    Jubilee Financial ProductsMonthly Income Plan Issue One

  • Just Retirement confirms buyer interest

    26 Jun 2009

    Just Retirement has confirmed that it is in talks with a bidder interested in taking a majority stake in the company which would value the firm at £226m.

  • Keydata "innocent victims", say directors

    30 Jun 2009

    Keydata says it is an "innocent victim" after administrator PwC said that over £100m of assets from some of the plans appear to be missing.

  • King calls for new UK banks

    24 Jun 2009

    Bank of England governor Mervyn King has called for the creation of new, small banks to aid the funding of small businesses and individual borrowers.

  • King tells banks to set out their last will

    25 Jun 2009

    Bank of England governor Mervyn King has called for banks to write their own "wills" to allow the authorities to implement an orderly wind down of business in the event of a future collapse.

  • L&C finalises Qrops move

    25 Jun 2009

    London & Colonial is working on the launch of Qrops in Gibraltar and Ireland.

  • L&G offers pension tax alternative

    25 Jun 2009

    Scrapping Budget proposals on higher-rate pension tax relief in favour of limiting the annual contribution allowance to £50,000 would generate the same amount of revenue, says Legal & General.

  • L&G to cut 200 extra jobs

    24 Jun 2009

    Insurer Legal & General is in talks with unions to make 200 further job cuts within its UK risk division.

  • Lakey takes over as 'the face of the IFADU'

    25 Jun 2009

    Highclere Financial Services partner Alan Lakey has taken over as chairman of the IFA Defence Union from founder and former chairman Evan Owen.

  • Life planners urged to seek scale and serve middle market

    25 Jun 2009

    Kinder Institute of Financial Planning founder George Kinder has warned that the integrity of life planning firms will be questioned unless a model is devised to service middle-income clients.

  • Lloyds announces exchange offer for Cleri Med debt

    30 Jun 2009

    Lloyds Banking Group has announced an invitation to exchange three of Clerical Medical's subordinated tier two bonds for new Lloyds TSB Bank senior bonds.

  • Lloyds announces further job cuts

    30 Jun 2009

    Lloyds Banking Group has announced it is to cut a further 2,100 jobs over the next three years.

  • Lloyds cuts 240 offshore jobs

    25 Jun 2009

    Lloyds Banking Group is cutting 240 offshore finance jobs across Jersey, the Isle of Man and Guernsey by the end of 2011.

  • Long-stop saga is short on sense

    25 Jun 2009

    One of the fascinating aspects of the financial services industry in general - and the IFA community in particular - is that it never stands still.

  • Losses from credit crunch down to £10 trillion

    26 Jun 2009

    The Bank of England has revealed that total worldwide losses from the financial crisis have been reduced by a third to £10 trillion.

  • LV= appoints Dan Ford as product manager

    26 Jun 2009

    LV= Asset Management has announced the appointment of Dan Ford as product manager.

  • Madoff sentenced to 150 years

    29 Jun 2009

    Bernard Madoff has been sentenced to a maximum of 150 years in prison after for committing a £40bn fraud.

  • Make a difference

    25 Jun 2009

    Imagine a man in his late 20s, married, with three children. He works hard to support his family, keeping a roof over their heads, food in their bellies, clothes on their backs while maintaining some standard of living. He is a salesman in a travel firm, with a basic salary of £12,000 but with commission he can earn around £24,000.

  • Man Group hires two non-exec directors

    29 Jun 2009

    Hedge fund manager Man Group has appointed Ruud Hendriks and Frédéric Jolly as non-executive directors, effective from August 1.

  • Manager focus: Bradley George

    25 Jun 2009

    Investec Asset Managements Enhanced Natural Resources funds has outperformed its competitors as a result of its short exposure.

  • Manager focus: Sonja Schemmann

    24 Jun 2009

    Dividends should be seen not just as a source of income for investors, but as a way of judging the strength and quality of a business, says Sonja Schemmann, a fund manager at Schroders.

  • Meteor Asset Management - Prima Growth Plan 16

    26 Jun 2009

    Meteor Asset ManagementPrima Growth Plan 16

  • MFS explores global energy

    26 Jun 2009

    The MFS International global energy fund invests in equities of energy companies across the market cap spectrum.

  • MFS International UK - MFS Meridian Global Energy Fund

    25 Jun 2009

    MFS International UKMFS Meridian Global Energy Fund

  • Midas completes debt restructure

    30 Jun 2009

    Midas Capital has announced the completion of the restructuring of its debt.

  • Mills starts action on Coutts case

    25 Jun 2009

    Business tycoon Sir Keith Mills has initiated legal action against Coutts & Co over advice that led him to invest £65m of his savings in AIG Life premier bonds.

  • Ministers forced into U-turn over MPs' pensions

    25 Jun 2009

    Ministers last night were forced to backtrack on plans to raise taxpayers' contributions to MPs' pensions following pressure from the Liberal Democrats.

  • Money Marketing launches twitter site

    30 Jun 2009

    Money Marketing has launched a twitter site to enhance our online offering.

  • Money Portal's debts were £55m

    24 Jun 2009

    Honister Capital has confirmed that Money Portal’s debts were in the region of £55m when it entered administration.

  • Moody’s could downgrade 27 sub-prime RMBS

    26 Jun 2009

    Moody’s ratings agency has revealed that it has put 27 sub-prime residential mortgage backed securities on possible downgrade review.

  • Moonraker avoids the herd

    26 Jun 2009

    Fund of hedge funds manager Moonraker Fund Management says it looks at different ways to play investment themes rather than following the herd of institutional investors.

  • Morgan Stanley - FTSE Defensive Gilt-Backed Growth Plan 3

    26 Jun 2009

    Morgan StanleyFTSE Defensive Gilt-Backed Growth Plan 3

  • Mortgage approvals up in May

    29 Jun 2009

    Mortgage approvals were up in May, according to the Bank of England’s latest figures.

  • Mortgage lending stabilising

    25 Jun 2009

    Gross mortgage lending was down by 2 per cent in May at £10.3bn from the previous month and by 58 per cent year on year, according to Council of Mortgage Lenders' figures.

  • Napf plea to MPs to rethink pension tax

    25 Jun 2009

    The National Association of Pension Funds has written to MPs to urge them to rethink the pension tax changes announced in the Budget, saying they will have a negative impact on pension savings.

  • Nationwide chief Beale gets thirtieths' pension

    25 Jun 2009

    Pension experts have marvelled at the extremely generous pension of Nationwide chief executive Graham Beale which is based on 1/30th accruals.

  • NDFA bring out deposit plan

    26 Jun 2009

    NDFA has brought out the fixed growth deposit plan, a six-year FTSE 100 linked structured product that aims for growth.

  • No debate

    25 Jun 2009

    Doing a spot of judging a few months back for the HeadlineMoney Awards - and of course I would not dare break the organiser's ruthlessly enforced code of silence as to the particular category - I came across the heart-rending story of a journalist who had lost money investing in the stockmarket.

  • Northern Rock to be split in two

    26 Jun 2009

    Northern Rock has revealed how it will be split between two mortgage banks in the second half of the year.

  • Notes on a scandal

    25 Jun 2009

    Amid all the furore over MPs' expenses it occurred to me that a far greater financial scandal has been overlooked.

  • Novia nod to structured products set to boost market, says Barclays Wealth

    26 Jun 2009

    Barclays Wealth says Novia’s move to include structured products on its platform is a significant step towards securing greater access across the platform market.

  • Novia wrap for offshore pension trust

    25 Jun 2009

    Novia is providing the investment platform for a new overseas pension trust.

  • Nucleus to tackle debt

    25 Jun 2009

    IFA-owned wrap Nucleus is launching a rights issue in a bid to repay more than £3m in debts owed to South African insurer and shareholder Sanlam.

  • OECD warns of slow recovery

    24 Jun 2009

    The OECD believes the world economy is near the bottom of the recession but has warned that any recovery is likely to be "weak and fragile".

  • On the RDR screen

    25 Jun 2009

    The FSA is publishing its retail distribution review consultation paper this week.

  • One to watch from JPM

    26 Jun 2009

    JPMorgan Asset ManagementJPM Strategic Bond Fund

  • Openwork appoints new chairman

    26 Jun 2009

    Openwork has appointed Martin Davis as non-executive chairman.

  • Panel wants focus to help consumers

    25 Jun 2009

    The Financial Services Consumer Panel has called for the FSA to publish information on firms' performance and take over regulation of consumer credit from the Office of Fair Trading.

  • Paul Evans

    25 Jun 2009

    Axa Life chief executive Paul Evans is not a fan of business as usual simply because that is the way things have always been done. "I like the idea of change, of how I can help things to change. I get bored of business as usual."

  • Paymentshield appoints Tim Johnson as new chief executive

    30 Jun 2009

    Paymentshield has appointed Tim Johnson as its new chief executive.

  • Pearl group sold to Liberty International

    29 Jun 2009

    Hugh Osmond's Pearl Group has been sold to Dutch acquisition vehicle Liberty International.

  • Pensioners 'kidnap and torture' financial adviser for losing their savings

    24 Jun 2009

    A mob of pensioners in Germany are alleged to have kidnapped and tortured their financial adviser after losing £2m of their retirement savings.

  • Personal accounts will boost online demand

    25 Jun 2009

    The introduction of pension personal accounts will drive demand for online access to financial products, according to the Tax Incentivised Savings Association.

  • Phil Billingham to join Threesixty

    30 Jun 2009

    Perception Support chief executive Phil Billingham is joining Threesixty along with his firm's client base.

  • Pittaccio to set up IN wealth management

    25 Jun 2009

    IN Partnership is to launch a wealth management arm in September headed by ex-Thinc investment director Mark Pittaccio.

  • Play the flip side of the claim game

    25 Jun 2009

    Years ago, we had a set of coasters in our home decorated with sage statements along the lines of "A fool and his money are soon parted." This is probably the element of the phrase that most people remember but when you flipped the coasters over, they gave you the balance of the phrase which in this case was "How did they get together in the first place?". Without its contradictory segment, it loses its meaning and purpose.

  • Polar position

    25 Jun 2009

    Polar Capital Partners began just after the technology bubble burst in January 2001, set up by two of the sector's most respected investors.

  • Portal subsidiaries sold off in MBO

    25 Jun 2009

    Money Portal subsidiaries Burns Anderson, Sage Financial Services and Willis Owen have been sold off to Honister Capital after TMP was placed into administration due to excessive levels of debt.

  • Prime Minister says FSA will retain control of regulatory oversight

    29 Jun 2009

    Prime Minister Gordon Brown has said today that the FSA will retain its powers to oversee the financial system rather than transferring them to the Bank of England.

  • Principle buoy

    25 Jun 2009

    Ethical funds have always inspired debate in the financial industry, with opinion divided or whether they can stand up on investment as well as moral terms.

  • Protection campaign to help rewrite FSA's Money Made Clear pages

    26 Jun 2009

    The FSA has asked members of the new consumer protection campaign chaired by Tom Baigrie to help it rewrite the protection pages of its Money Made Clear website.

  • 'Public prefer advisers to direct platforms'

    25 Jun 2009

    Zurich considers direct-to-consumer platforms will not succeed and will cause conflict with the IFA sector.

  • Public sector pensions cost 85 per cent of GDP

    29 Jun 2009

    The true cost of public sector pensions has been estimated at £1.2trn or 85 per cent of Britain's GDP.

  • PwC keeps investors in the dark on Keydata income payments

    25 Jun 2009

    Advisers have hit out at administrator PricewaterhouseCoopers for its lack of communication over income payments on Keydata plans.

  • PwC says whole Keydata sale not possible

    30 Jun 2009

    Administrator PricewaterhouseCoopers has said that a sale of Keydata’s business in its entirety will now not be possible.

  • PwC valuer to lead B&B share compensation scheme

    24 Jun 2009

    PriceWaterhouseCooper head of valuations Peter Clokey has been chosen to spearhead the investor compensation scheme for Bradford & Bingley shareholders.

  • Race report rocks regulator

    25 Jun 2009

    The FSA has admitted a "small number of individual problems" after a leaked internal report identified a racist culture at the regulator.

  • RAM and BMS Finance pitch new IHT solution

    26 Jun 2009

    RAM Capital and boutique investment manager BMI Finance are promoting Sunstone Outsourcing, an inheritance tax mitigation solution that allows investors to shelter part payments from IHT.

  • RDR - FSA to consult further on commission on GPPs

    25 Jun 2009

    The FSA has put the issue of whether group personal pension (GPPs) should fall under the adviser charging regime proposed by the Retail Distribution Review out for yet more consultation.

  • RDR CP: ABI concern over higher qualifications for simplified advisers

    25 Jun 2009

    The Association of British Insurers has raised concerns that those offering simplified advice will have to obtain the same minimum qualifications as those offering full independent advice.

  • RDR CP: Adviser Charging plans set out by FSA

    25 Jun 2009

    The RDR consultation paper has proposed an end to commission-based advice and has set out rules by which all levels of advisers, except basic advice, decide their own fee-based remuneration through Adviser Charging.

  • RDR CP: Aifa says charging and training rules should apply to basic advice

    25 Jun 2009

    Aifa director general Chris Cummings is disappointed the basic adviser category is exempt from QCF level 4 qualifications and is not required to adhere to the FSA's adviser charging rules.

  • RDR CP: Aifa says RDR offers IFAs opportunity to demonstrate value

    25 Jun 2009

    The Association of Independent Financial Advisers has welcomed the RDR proposals as a means for IFAs to prove their worth to the financial sector.

  • RDR CP: Basic advice exempt from QCF level 4 qualifications

    25 Jun 2009

    Firms offering basic advice will not have to meet the same professional standards as independent financial advisers, although simplified advice processes will have to meet QCF level 4 qualifications, according to the FSA.

  • RDR CP: DA firms "highly engaged" with RDR

    25 Jun 2009

    Directly authorised firms appear to be "highly engaged" with the retail distribution review according to a research paper for the FSA.

  • RDR CP: FSA confirms higher qualifications for all advisers except basic

    25 Jun 2009

    The latest consultation paper for the retail distribution review has confirmed that all advisers are to be trained to QCA Level 4 by the end of 2012, except those operating under basic advice.

  • RDR CP: FSA estimates £430m compliance cost of RDR

    25 Jun 2009

    The FSA estimates that incremental compliance costs relating to the implementation of the retail distribution review will be £430m as a one-off cost and £40m a year.

  • RDR CP: FSA sets out possible code of ethics

    25 Jun 2009

    The FSA’s RDR consultation paper puts forward a possible draft code of ethics for advisers.

  • RDR CP: FSA to consult on adviser charging for GPPs

    25 Jun 2009

    The FSA is to consult the industry on how to apply adviser charging in the corporate pensions market when a group personal pension is sold without advice.

  • RDR CP: FSA to review platforms and their charges

    25 Jun 2009

    The FSA is to undertake a supervisory review and consideration of platforms and their charging structures.

  • RDR CP: FSA warns it will take action against commission closing down sales

    25 Jun 2009

    The FSA has warned it will come down hard on adviser and provider firms that attempt to "frustrate" its aim to quash commission-bias.

  • RDR CP: Fund manager proposals “not proportionate”, says IMA

    25 Jun 2009

    The Investment Management Association says the FSA’s proposals for fund managers are not proportionate.

  • RDR CP: Implementation costs highest for large fee-based firms

    25 Jun 2009

    Implementation of the retail distribution review changes will cost large fee-based firms more in one-off expenses than equivalent sized commission-based firms.

  • RDR CP: new definition of independence

    25 Jun 2009

    Today's retail distribution review consultation paper has put forward a new definition of independence.

  • RDR CP: New review for protection market

    25 Jun 2009

    The FSA has announced that it will review possible changes to regulation of the pure protection markets.

  • RDR CP: Providers welcome status of distributor influenced funds for IFAs

    25 Jun 2009

    Providers support the FSA’s decision to allow advisers who offer distributor influenced funds to remain ‘independent’ as long as they do not restrict their advice to these funds.

  • RDR CP: Waters says adviser exodus exaggerated

    26 Jun 2009

    FSA director of retail policy & conduct risk Dan Waters has disputed claims that the Retail Distribution Review will decimate adviser numbers, adding that some estimates are "way, way too high".

  • RDR CP: Waters says benefits of long-stop did not outweigh costs

    26 Jun 2009

    The FSA has claimed there was not enough evidence put forward to show that the benefits of operating a long-stop would outweigh the detriment to consumers.

  • RDR paper leaked to Money Marketing

    24 Jun 2009

    The financial advice industry will be split into independent advice, restricted advice and non-adv­ised sales as part of the retail distribution review.

  • RDR sets out three-way split for advice

    25 Jun 2009

    The financial services industry will be split into independent advice, restricted advice and non-advised sales as part of the retail distribution review.

  • Reading the small print

    25 Jun 2009

    As investor risk appetite has started to return, so too has interest in "riskier" investments such as emerging equity markets and smaller companies.

  • Reasonable doubt

    25 Jun 2009

    Risk and cyclically sensitive assets such as equities, credit and commodities have enjoyed a recovery during the second quarter of this year as fears of systemic failure in the financial system are replaced by hopes that the global recession is coming to an end.

  • Register office

    25 Jun 2009

    PIMS has been and gone and the world has been put to rights. The market now awaits the findings of the FSA with the retail distribution implementation plan consultation paper.

  • Reveal the full report on race

    25 Jun 2009

    The allegations of racism at the FSA are extremely serious and must be fully explained by the regulator.

  • Revenue Sipp swoop in fraud investigation

    25 Jun 2009

    IFAs and Sipp operators are among 11 people arrested in relation to a suspected £2.5m tax relief fraud involving bogus pension schemes.

  • Riding the risk

    25 Jun 2009

    It was almost a year ago that I featured the Old Mutual corporate bond fund in this column. I thought I would revisit it as performance since then has been uninspiring to say the least.

  • Schroders unveils currency fund for retail market

    26 Jun 2009

    Schroders has introduced a global currency fund for retail investors looking for higher yields than cash deposits and government bonds.

  • Sesame in talks to acquire Bankhall and PMS

    30 Jun 2009

    Sesame says it has entered into discussions with Skandia about acquiring Bankhall and PMS.

  • SFO restrains $100m in Stanford case

    30 Jun 2009

    The Serious Fraud Office has obtained a restraining order on $100m (£60.2m) of assets believed to be held in London financial institutions in relation to the criminal investigation of Allen Stanford.

  • Shorting ‘tricky’ amid green shoots talk, says BlackRock’s Lyttleton

    30 Jun 2009

    BlackRock’s Mark Lyttleton says making shorts is tricky in the current environment due to market optimism which is heralding the arrival of a new bull market.

  • Sinfonia appoints Paul Kim as fund manager

    29 Jun 2009

    Sinfonia Asset Management has announced the appointment of Paul Kim as fund manager of the firm’s Oeic portfolios.

  • Sipps staying in the spotlight

    25 Jun 2009

    Self invested personal pensions are continuing to come under FSA scrutiny with Money Marketing uncovering two FSA Sipp probes in recent weeks.

  • Skandia International expands Singapore business

    24 Jun 2009

    Skandia International has expanded its business with the launch of a new Singapore version of its international investment solution.

  • Soft option from Pictet

    26 Jun 2009

    Pictet FundsPF (Lux) Agriculture Fund

  • Solid bric lays foundations of recovery

    25 Jun 2009

    With the first formal Bric summit ending last week, these nations are beginning to flex their financial muscle and are showing significant potential for growth despite the economic downturn.

  • Strategic thinking

    25 Jun 2009

    Bonds continue to dominate sales even as equity markets move ahead and opportunities in fixed interest look less obvious. Spreads over Government debt have narrowed in recent weeks, lessening the blatant investment opportunity managers have been talking of for months. Considering the recent rally, is the story and opportunity in corporate bonds now over? Strategic bond managers certainly do not think so but while they are still favouring the investment end of the market, many are branching ...

  • Structured switch

    25 Jun 2009

    Former Keydata consultant Adrian Neave is to join Arbuthnot Banking Group to head its new structured products distribution business.

  • Survey reveals UK equity optimism

    25 Jun 2009

    Over two-thirds of private client investment managers and stockbrokers believe there will be a further rally in UK equities within a year, according to a survey by Apcims and ComRes.

  • Switched on

    25 Jun 2009

    Recent announcements from Barclays, BP, British Airways and Royal Mail about the future, or possible future, of their pension schemes highlight the dramatic changes sweeping through the UK pension system.

  • System faces long road to recovery

    25 Jun 2009

    The banking system has a long way to go before any signs of real recovery are seen, according to Bank of England governor Sir Mervyn King.

  • Taking a cut

    25 Jun 2009

    I am trying to do the best thing for my employees who have a wide range of ages and salary levels. Can you tell me the pros and cons of introducing a salary sacrifice scheme?

  • Tarp cash for Lincoln National and Hartford

    25 Jun 2009

    Lincoln National and The Hartford have become the first life insurers to take public funds under the US government's troubled asset relief programme.

  • TEP Exchange temporarily suspended from AIM

    29 Jun 2009

    The TEP Exchange has been temporarily suspended from trading on the AIM market.

  • Thames River wins trio of mandates

    24 Jun 2009

    Thames River’s multi-manager team has won three institutional mandates worth £30m.

  • The fast line

    25 Jun 2009

    Last week, former BM Solutions managing director Michael Bolton claimed up to 80 per cent of HBOS loans were approved without full proof of income before the credit crunch.

  • Thinktank call to cut core out of 'self-obsessed' FSA

    25 Jun 2009

    The Adam Smith Institute has slammed the FSA's response to the financial crisis, saying the regulator's inability to recognise the extent of its own failings compromises its ability to improve regulation.

  • Tories put on pressure to block forestall rules

    25 Jun 2009

    The Tories have pledged to ramp up the pressure on the Government to change the Budget's anti-forestalling measures as part of the higher-rate tax relief pension changes.

  • Towers Perrin and Watson Wyatt to merge

    30 Jun 2009

    Towers Perrin and Watson Wyatt are to merge to create the world's largest employee-benefits consultancy.

  • Transfers are the top target for regulator

    25 Jun 2009

    Grant Thornton has warned that the FSA is taking a tough line on pension transfer business, with firms having to prove their advice is "positively suitable", rather than just not unsuitable.

  • Treasury defends Landsbanki action

    25 Jun 2009

    The Treasury has defended its response to the collapse of the Icelandic banking system last year, saying it was right to take urgent action to protect financial stability in the UK.

  • Treasury spent £22m on financial stability legal services

    24 Jun 2009

    The Treasury spent £22m on legal services relating to financial stability in 2008-09 according to research by the Liberal Democrats.

  • Triple theme fund

    25 Jun 2009

    WHEB Asset Management has set up a sustainability fund focusing on water, climate change and demographics. Managed by Clare Brook and Nicola Donnelly, the fund will invest globally.

  • Turner makes case for radical resolve

    25 Jun 2009

    FSA chairman Lord Turner has warned MPs that the authorities could fail to be radical enough in overhauling the financial regulatory and supervisory system.

  • Turner to chair Financial Stability Board committee on regulatory co-operation

    29 Jun 2009

    The FSA’s Lord Turner has been appointed to chair the Financial Stability Board’s standing committee for supervisory and regulatory co-operation.

  • Ucits III limits on hedge fund leverage not 'appropriate', says FSA

    24 Jun 2009

    The FSA says significant constraints on leverage proposed in the Ucits III directive are not appropriate for hedge funds.

  • UK welcomes Jersey tax information exchange agreement

    26 Jun 2009

    The Government has welcomed Jersey’s signing of its fourteenth tax information exchange agreement.

  • Uncharted waters

    25 Jun 2009

    What does the withdrawal of the IF, Bank of Scotland and Astra brands from intermediated distribution mean for the mortgage broking market?

  • Use of passive funds promotes value for money says Swip

    26 Jun 2009

    Swip’s multi-manager team believes that holding passive investment funds in its portfolios can provide investors with value for money.

  • Vanguard enters with 11 index tracker funds

    25 Jun 2009

    Vanguard has made its first move into the UK market with the launch of 11 index trackers.

  • Vive la revolution

    25 Jun 2009

    In his speech at the Association of British Insurers 2009 conference earlier this month, the FSA's Lord Turner said he saw no need for the regulatory revolution in the banking industry to be extended across other sectors of the financial services. However, I believe we must embrace a revolutionary mindset if we are to tackle the long-standing structural issues he acknowledged as characterising our industry.

  • Walter Merricks to step down from FOS

    30 Jun 2009

    Chief ombudsman Walter Merricks is to step down from the Financial Ombudsman Service.

  • Website comments

    25 Jun 2009

    We have a totally unfair and inadequate system of regulation which allows the FSA to ride roughshod over what was, before its actions, a perfectly sound financial company, which is now the subject of a bidding war to gain control of its clients, much to the disgust of IFAs all over the country.

  • Wedding present

    25 Jun 2009

    As under-pensioned Britons come to realise just how expensive buying an annuity income actually is, we are going to see a trend towards even middle-class people making the most of what the state has to offer. For many cohabitees at or approaching retirement, this could lead to a walk down the aisle or a short trip to the registry office at least.

  • Wheb Asset Management - IM Wheb Sustainability Fund

    26 Jun 2009

    Wheb Asset ManagementIM Wheb Sustainability Fund

  • Which? warns on structured products

    24 Jun 2009

    Consumer group Which? says that structured products are confusing and complex and says they provide contradictory information in their product literature.

  • Windsor Life worst annuity transfer offender in new research

    29 Jun 2009

    Pensions providers are taking up to 10 weeks to transfer retired people’s funds over to their chosen annuity provider, according to new research by The Annuity Clearing House.

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