Money Marketing
24 October 2007

  • £40M levy for generic advice

    25 Oct 2007

    Financial services companies will face an annual compulsory levy for generic advice of up to £40m under the terms of the Thoresen review.

  • …as savers can reinvest Isa cash

    25 Oct 2007

    The Government is to allow people who withdrew cash from Isas held with Northern Rock during the recent deb-acle to redeposit this money into a cash Isa with Northern Rock or another provider and keep their Isa allowance.

  • 100% mortgages twice as popular as last year

    29 Oct 2007

    Twice as many people have taken out 100 per cent mortgages in the nine months to September 2007 compared to the same time last year according to the Mortgage Advice Bureau.

  • 100-fold rise in house prices gives scope for equity release says Home & Capital

    24 Oct 2007

    Homeowners who are asset rich and cash poor could raise a six-figure sum through equity release as the average property purchased 50 years ago is worth 100 times more today according to Home & Capital.

  • A bridge too far

    25 Oct 2007

    Bridging loans appear to be enjoying a renaissance in spite of typical rates at 18 to 24 per cent plus 1 to 3 per cent arrangement fees.

  • A Shaw thing

    25 Oct 2007

    Sam Shaw is a reporter on Money Marketing

  • A show of force

    25 Oct 2007

    The Money Marketing Live conference and exhibition at Manchester's G-Mex on October 30 will house over 40 industry speakers and 85 exhibitors. You also have a great chance to win a Mazda MX-5 sponsored by Edeus

  • Aberdeen helps foot adventurer's journey

    25 Oct 2007

    Aberdeen Asset Management stepped in to help adventurer Jason Lewis complete his 46,505-mile journey round the world.

  • Aberdeen launches new responsible world equity fund

    29 Oct 2007

    Aberdeen Asset Managers Limited has announced the launch of the Aberdeen global - responsible world equity fund, a new sub-fund of Aberdeen global.

  • Advisers are warned to check PI cover for Mifid

    25 Oct 2007

    Advisers need to check their professional indemnity cover is valid prior to the November 1 deadline for Mifid, warns PYV chief executive Neil Pointon.

  • Aegon improves application process

    25 Oct 2007

    Aegon Scottish Equitable is to let advisers obtain online annuity quotes direct from its website as part of changes to its online annuity proposition.

  • Aegon says industry must gear up for CAR

    25 Oct 2007

    Aegon is calling for industry debate on technical aspects of the retail distribution review such as the effect of customer-agreed remuneration on the network model.

  • Aegon top of the table

    25 Oct 2007

    Sipp and Drawdown - how they scored

  • Aifa says credit market troubles show failings in FSA’s prudential rules DP

    26 Oct 2007

    Aifa says the recent events in the credit markets have shown the FSA’s prudential rules paper focused too narrowly on advisers and a wider debate around financial stability is needed.

  • Alpha to Omega joins IFA Consortium

    25 Oct 2007

    IFA network Alpha to Omega has joined the IFA Consortium, bringing total adviser numbers to over 600.

  • APS Mortgages enters administration

    29 Oct 2007

    APS Mortgages UK Limited has confirmed it has entered administration as a result of the credit crunch.The Swindon-based firm has appointed James Tickell and Carl Fauld as joint administrators.It is understood that 23 employees will be made redundant as a result of the move.

  • Arch to keep IdB funds the same

    25 Oct 2007

    Arch Financial Products says it will not make any majot changes to the funds of funds it recently acquired from, Imsinger de Beaufort.

  • Asps bite harder after IHT reforms

    25 Oct 2007

    Changes to inheritance tax in the pre-Budget report could boost funds passed on after death in alternatively secured pensions by up to 70 per cent, says Aegon Scottish Equitable.

  • Aviva aims to cut costs by £350m

    25 Oct 2007

    Aviva is aiming to slash costs by £350m by the end of 2009 in a move that could lead to further job cuts.

  • AWD Chase de Vere acquires Jaffrey Financial Services

    26 Oct 2007

    AWD Chase de Vere has taken over Jaffrey Financial Services, an adviser firm in Dundee, Scotland.

  • Back beliefs to hilt, says Jupiter chief

    25 Oct 2007

    Jupiter head of independent funds team John Chatfeild-Roberts believes that conviction-led investing is crucial to the success of a fund of fund portfolio.

  • Backing for US banks' $75bn bail-out fund

    25 Oct 2007

    The planned creation of a $75bn US superfund to prevent further turmoil in mortgage-backed securities has been welcomed by UK mortgage market commentators.

  • Band aid

    25 Oct 2007

    We still have the same nil-rate bands as before the pre-Budget report so just what is the effect of the IHT reforms?

  • Bank of Scotland deal to leverage Sipp assets

    25 Oct 2007

    The Bank of Scotland has teamed up with a private investor syndicator to allow Sipp investors to leverage assets held in a Sipp.

  • Bargain bonds

    25 Oct 2007

    Despite tough times ahead for the banking sector, it may be the best place to look for bonds

  • Baring hires Calder for multi-manager

    25 Oct 2007

    James Calder is joining Baring Asset Management as head of multi-manager. Calder joins from Berry Asset Management after previous stints at Gartmore and BestInvest. Barings lost a six-strong team on the fund of funds side to Sarasin Chiswell's private client business earlier this year.

  • 'Big firms launch too many funds'

    25 Oct 2007

    Big investment companies launch too many funds solely because of their marketability without focusing on how they work, according to Wilson Dean Financial Services director Nick Lincoln.

  • BM Solutions to start renewed push into BTL market

    26 Oct 2007

    BM Solutions looks set to make a return to the mortgage market with a number of competitively priced buy to let products in the next few weeks.

  • BoE says funding rescue deal for Rock was inappropriate

    25 Oct 2007

    The Bank of England has hit back at claims by Northern Rock's management that takeover talks with an unnamed party broke down before the run on the Rock as the BoE refused to offer a backstop facility.

  • Bolton admits Edeus might not remain independent

    25 Oct 2007

    Edeus chief executive Michael Bolton says he does not know whether or not Edeus will remain totally independent as a result of the credit crunch.

  • Bonds vs collectives - the story continues

    25 Oct 2007

    Have the Chancellor's proposed CGT reforms weighted the argument in favour of collectives at the expense of bonds? Technical Connection's John Woolley and Tony Wickenden suggest the position has not changed significantly for many investors

  • Borrowers not interested in long-term fixed rates says Paragon

    25 Oct 2007

    Mortgage borrowers are not interested in long-term fixed rate mortgages despite the Chancellor’s pre-budget report announcement to push the product says Paragon.

  • Boutique moves bring manageable workloads

    25 Oct 2007

    One of the big reasons that fund managers move to boutiques is because they do not want to be saddled with running too many funds, believes Thames River investment director Michael Warren.

  • Broker fined over equity-release sales

    25 Oct 2007

    The FSA has fined a mortgage broker £10,500 for selling unsuitable equity-release mortgage products.

  • Broker Talkback

    25 Oct 2007

    Should clients have to repay compensation they receive on endowment complaints if their policies mature above the expected value?

  • Broker trust at stake in DB self-cert row

    25 Oct 2007

    DB Mortgages is at risk of losing the trust of mortgage brokers after it emerged that it is calling employers and accountants on self-certification cases to confirm clients' incomes.

  • BTL in residence

    25 Oct 2007

    Analysis of 12 European markets found the concept of specialist buy-to-let mortgages does not exist outside these shores, says Tanya Powley

  • BuildLoan - Intelligent Finance Two Year Offset Fixed Rate for Renovators

    25 Oct 2007

    BuildLoanIntelligent Finance Two Year Offset Fixed Rate for Renovators

  • Bupa reduces life and CI premiums

    26 Oct 2007

    Bupa has reduced premium rates for its life and critical illness products. Life rates have reduced on average by 4.5 per cent and critical illness rates have reduced by around 2 per cent. Individual protection product and marketing manager Steve Casey says: "We are delighted to pass on our efficiency improvements to our clients as soon as practicality possible."

  • Capital Enabler's training courses to encompass Quay

    25 Oct 2007

    Quay Software is being introduced into Capita Enabler's training programme.

  • Chatfeild-Roberts calls for caution over commercial property and hedge funds

    25 Oct 2007

    Jupiter multi-manager guru John Chatfeild-Roberts says he is wary of investing in alternative assets in the current market environment.

  • Cheal takes L&G retirement role

    25 Oct 2007

    Prudential has recruited former Legal & General sales and development director Trevor Cheal in the new role of retirement savings and investments director. Cheal joins Pru in January and will be responsible for collectives investment, wrap, with-profits and insurance bonds.

  • Claim excuses

    25 Oct 2007

    Are all claims for endowment misselling - and personal pensions before that - spurious? I have been asking myself that since Money Marketing gave prominent coverage to a story in which Labour peer David Lipsey was quoted as saying some of those who claimed compensation in relation to the pension review were "not always truthful".

  • Close Investments launches new agricultural commodities fund

    29 Oct 2007

    Close Investments has announced the launch of its new commodities fund, the Agricultural Commodities Trust.

  • CML joins sale and leaseback campaign

    25 Oct 2007

    The Council of Mortgage Lenders has joined forces with Citizens Advice and Shelter to urge the Treasury to make sale and leaseback schemes regulated by the FSA. In a letter to Treasury Economic Secretary Kitty Usher, the organisations say some of the schemes may not be treating customers in a fair manner.

  • Colin Dickie

    25 Oct 2007

    The Barclays' director loves the intellectual stimulus of wealth management and relishes taking new products on to the market. His communicative philosophy has remained unchanged throughout a career which began as an actuary in Edinburgh. He believes today's savvy clients want advisers to keep it simple and convey exactly what it means for them Interview by Will Henley

  • Consistency is proving to be elusive

    25 Oct 2007

    HSBC Investments senior fund manager Nicholas Pothier added to the debate over high levels of fund manager turnover, saying investment decisions are becoming increasingly difficult for advisers .

  • Consumer input for personal accounts

    25 Oct 2007

    The Government says a consumer-representative committee will work with the personal accounts delivery authority to advise on consumer issues.

  • Consumers fail to warm to 25 year mortgages

    24 Oct 2007

    Just two per cent of consumers have asked their adviser about 25 year fixed rate mortgages since July.

  • 'Critical-illness clients would pay for more comprehensive cover'

    25 Oct 2007

    Advisers believe some clients would pay extra for a critical-illness product which covers more elements of current conditions, for example, all strokes, says Just Retirement.

  • Darling should reconsider his tax changes, says Aifa

    26 Oct 2007

    Aifa is calling for Alistair Darling to reconsider his pre budget report after being questioned by the Treasury Select Committee about his proposals.

  • Darling to push ahead with CGT changes

    25 Oct 2007

    The Chancellor says he is determined to push ahead with the changes to Capital Gains Tax announced in the pre-Budget report and that his main motivation is to create a simpler tax system.

  • Dash out of cash

    25 Oct 2007

    The phrase "cash is king" rang true through recent market turmoil, when fund managers increased their cash allocations in the face of turmoil in the equity and bond markets. But as markets have bounced back, risk appetite shows strong signs of recovery.

  • Do like Discovery?

    30 Oct 2007

    Using off-duty nurses to compile summaries of client medical records for insurers to refer to when underwriting has been flagged up as another way to stop non-disclosure, rather than submitting clients' full medical records.

  • Done to death

    25 Oct 2007

    Muc of the pre-Budget report seemed cobbled together at the last minute

  • Doubts over value as IFA exits Sesame

    25 Oct 2007

    Simpson Financial Services managing director Rob Simpson is taking his firm direct after questioning the value of being with network Sesame.

  • Downing unleash lower risk VCT duo

    25 Oct 2007

    Downing Corporate Finance is aiming to raise up to £15m each for two lower-risk VCTs which will mirror each other.

  • Eastern promise

    25 Oct 2007

    Investors often buy unit trusts and Oeics in sectors which have performed well rather than looking at ones that are undervalued. But it is sensible to look at sectors of the major equity markets which have performed poorly over the past one or two years.

  • Edeus completes first whole loan book sale with Stroud & Swindon

    29 Oct 2007

    Edeus has completed its first whole loan book sale with Stroud & Swindon Building Society since the credit crunch took hold in August.

  • Emerging force

    25 Oct 2007

    Asia and the emerging markets in general have been left comparatively unscathed by the credit crisis, writes Chris Salih

  • Engaging ideas

    25 Oct 2007

    With the retail distribution review consultation deadline looming, industry submissions are coming in thick and fast.

  • Equtable Life members approve transfer of with-profits annuities to Prudential

    26 Oct 2007

    Equitable Life has announced that its members have approved the transfer of its with-profits annuity policies to Prudential at an extraordinary general meeting in London.

  • Euro parliament bids to help property buyers

    25 Oct 2007

    European parliament vice-president Diana Wallis has said the parliament will be looking closely in the near future at providing more help for people buying properties abroad.

  • European Commissioner McCreevy blames UK gold-plating for Northern Rock debacle

    26 Oct 2007

    European Commissioner Charlie McCreevy has attacked the “gold-plated transparency rules” of UK regulatory authorities for causing the crisis that hit Northern Rock.

  • Falcon adds two directors to board

    25 Oct 2007

    Stephen Gazard and Louise Whelan have been appointed as board directors at Falcon Group.

  • First director general of Ship appointed

    30 Oct 2007

    Safe Home Income Plans has appointed Andrea Rozario as its first director general, effective from December 3, 2007.

  • First State to launch media vehicle

    24 Oct 2007

    First State is to launch a new media fund after the group acquired a second set of publishing assets from Wind-up Entertainment Inc.

  • First UK RMBS launched by Lehman Brothers

    24 Oct 2007

    Lehman Brothers has launched the first UK mortgage-backed securitization since the credit crunch took hold in August.

  • Fofs storm ahead after slow start

    25 Oct 2007

    The demand for fund of funds is so strong that the market could grow to as many as 2,000 Fofs, says IMS chairman Richard Timberlake.

  • Friends Prov records 30% international sales growth

    24 Oct 2007

    Friends Provident has announced 36 per cent growth of international sales for Q3 to £2.1m, up from £1.5m in the same quarter of 2006.

  • Friends Provident new business up 13 per cent but investment business suffers

    24 Oct 2007

    Friends Provident's total UK new business is up by 13 per cent in the first nine months of this year but investment new business fell by 25 per cent.

  • FSA “disappointed” by review of hedge fund managers

    30 Oct 2007

    The FSA is to investigate a wider cross section of hedge fund managers after uncovering a lack of appropriate controls and complacent attitude to risk in a review of the sector.

  • FSA must be accountable to a real ombudsman

    25 Oct 2007

    Letter to John Redwood, MP, as 'regulation' shadow

  • FSA probing data security at IFA firms

    25 Oct 2007

    The FSA is investigating IFAs' data security procedures, including ensuring that client data is safe if an adviser's laptop computer is stolen.

  • FSA sends in shadow shoppers to advisers

    25 Oct 2007

    The FSA is piloting what it calls a shadow shopping campaign to assess the quality of mortgage and investment advice being given to consumers.

  • FSA should have ensured Northern Rock had fall back position, says Chancellor

    25 Oct 2007

    The FSA should have put more regulatory focus on ensuring Northern Rock had a fall back position in the event of a liquidity crisis, said Alistair Darling.

  • 'Full client medical records would overburden system'

    25 Oct 2007

    Using off-duty nurses to compile summaries of client medical records is a better way of avoiding non-disclosure than submitting full medical records to insurers, says Direct Life & Pensions sales and marketing director Richard Verdin.

  • Gender pensions gap is widening, says Scottish Widows

    30 Oct 2007

    Scottish Widows has released a report that reveals just 41 per cent of women who could be saving for retirement are saving adequately, compared to 54 per cent of men.

  • Grab the bull by the horns in Japan

    25 Oct 2007

    It can hardly have escaped your attention that Asian markets have been on fire. I have found clients are responding by starting to worry about the gains they have made. I can hardly blame them. Some of the funds are up 30 per cent in the past three months and there is talk of a bubble. However, I don't think we are at that stage yet.

  • Grandfathering could confuse consumers

    25 Oct 2007

    Qualifications are the most cost-effective way of measuring adviser competence and grandfathering risks confusing consumers, warns PFS president Robert Reid.

  • Home of Choice says mortgage-only networks best for brokers

    24 Oct 2007

    Mortgage networks are the only viable option for quality mortgage brokers as the impact of falling capital markets, failing consumer confidence and potential regulatory changes take effect says Home of Choice.

  • House prices will only rise by 1 per cent in 2008, says CML

    29 Oct 2007

    House prices will only rise by 1 per cent in 2008 compared to 7 per cent in 2007, the Council of Mortgage Lenders has said.

  • Husselbee takes North independent

    24 Oct 2007

    Multimanager guru John Husselbee has led a management buyout that sees North Investment Partners become independent from Neptune Investment Management.

  • I’m Alright, Jack

    26 Oct 2007

    Chiefs of adviser groups seem split over whether they ought to be encouraging their advisers to be putting pen to paper and responding to the RDR individually or relying on the groups themselves to respond.

  • IAF secures total commercial property returns

    26 Oct 2007

    Wealth manager IAF Securities has teamed up with structured product consultancy Investment Design and Distribution to bring out a capital-protected bond linked to the total returns of the IPD UK annual index.

  • IFAs could net £20k in Sage profit share

    25 Oct 2007

    Sage members can expect bonuses of up to £20,000 after the network unveiled its profit share payments.

  • IMA calls for changes to covered bond regime proposals

    26 Oct 2007

    The Investment Management Association has called on the Treasury and the FSA to re-consider their proposals for a UK recognised covered bond regime.

  • IMA calls for greater transparency on platform regulation

    30 Oct 2007

    The Investment Management Association has asked the FSA to tighten platform regulation so advisers can decipher between the services offered and charges incurred.

  • Incubation period

    25 Oct 2007

    Fidelity is an organisation which elicits mixed emotions from IFAs. Some see it as a highly innovative fund management group, but a significant numbers of advisers object to the fact that Fidelity actively promotes its products direct to consumers rather than adopting an IFA-only stance on distribution.

  • Independent chief exec sentenced to seven years for fraud

    24 Oct 2007

    Independent Insurance former chief executive Michael Bright was sentenced to seven years for two counts of fraud at Southwark Crown Court today.

  • Industry tops league for sport sponsorship

    25 Oct 2007

    Financial services companies are the biggest sponsors of European sports events in terms of number and value of deals.

  • Insurers facing major upheaval

    25 Oct 2007

    Investors are paying higher multiples than they realise for life companies

  • It pays not to save

    25 Oct 2007

    There is scary potential for catastrophic losses of value to voluntary savings

  • James Hay mailing angers IFAs with direct Sipp offers

    25 Oct 2007

    James Hay has been accused of undermining IFAs by writing directly to their Sipp clients offering them access to a panel of discretionary investment managers instead of using the services of their adviser.

  • JC Flowers confirms Northern Rock interest and unveils management team

    26 Oct 2007

    American private equity group JC Flowers says it is in discussions with the board of Northern Rock about a possible offer for the lender and has unveiled the potential management team.

  • Just what the doctor ordered?

    25 Oct 2007

    Some advisers say they have already adopted Peter Chadborn's suggestion to submit medical records with protection applications to prevent rejection of claims due to non-disclosure. However, Helen Pow says there are doubts it would work on a mass scale

  • Kate Huet leaves Advantage

    24 Oct 2007

    Advantage has announced today that marketing director Kate Huet has decided to resign from the company with effect from November 30th 2007 for personal and family reasons. 

  • Keydata Investment Services - Extra Income Plan 15

    26 Oct 2007

    Keydata Investment ServicesExtra Income Plan 15

  • L&G to review premiums for reviewable critical illness cover

    29 Oct 2007

    Legal & General is beginning the first round of reviews for customers with its reviewable critical illness cover.

  • Law and order

    25 Oct 2007

    A solicitor looks to organise his financial affairs in preparation for retirement

  • Lifesearch in data deal

    25 Oct 2007

    Lifesearch has signed up MorganAsh to tele-interview its customers to provide a thorough and independent record of their medical history and speed up processing. Lifesearch runs an in-house tele-data capture service but MorganAsh will run a second team, giving increased capacity.

  • Lincoln looks to invigorate LTC market

    25 Oct 2007

    Lincoln Financial Group is relaunching its long-term-care-style product, Elderly Care, in a move it says will shake up a stagnant market.

  • Long/short success sees Skandia adding to ideas

    25 Oct 2007

    Skandia Investment Management is looking at adding to its range of best ideas funds with European and international versions.

  • Manager changes damage confidence

    25 Oct 2007

    The recent spate of manager moves in the fund of funds sector could make advisers nervous about committing to the asset class, warns Old Broad Street research director Richard Romer-Lee.

  • Mandatory retirement age is 'justified' ruling

    25 Oct 2007

    The European Court of Justice has ruled that although discrimination based on age is illegal, a mandatory retirement age can be justified to stabilise the labour market if a proper pension is provided.

  • Melton Mowbray takes over packager

    25 Oct 2007

    Packager Praxis Mortgage Solutions has been bought by Melton Mowbray Building Society after it went into administration last weekend. The society, became the majority shareholder in the packager in February.

  • Merchant Investors offers full protected rights for Sipp clients

    25 Oct 2007

    Merchant Investors has relaunched its section 32 Sipp to enable investors to fully self-invest protected rights.

  • Meteor Asset Management - Prima Growth Plan 4

    25 Oct 2007

    Meteor Asset ManagementPrima Growth Plan 4

  • MetLife says don't choose trusts over bonds because of CGT proposals

    24 Oct 2007

    MetLife is urging advisers not to rush to judgement on recommending unit trusts over investment bonds in response to pre-budget report proposals to introduce a flat rate capital gains tax of 18 per cent from next April.

  • Mifid must not hamper private banking growth, says BBA

    30 Oct 2007

    The private banking industry could face significantly more work for an unclear benefit under Mifid, warns the British Bankers’ Association’s Private Banking Advisory Group.

  • Mortgage and GI advisers to benefit

    25 Oct 2007

    Prestbury chief executive Lee Birkett believes that the retail distribution review will serve mortgage and general insurance advisers better than the vast majority of IFAs.

  • Mortgages Plc withdraws from medium adverse sector

    24 Oct 2007

    Merrill Lynch subsidiary Mortgages plc has confirmed it is withdrawing from the medium adverse sector of the non-conforming market.

  • Moving targets

    25 Oct 2007

    Investors in Aim companies are having to adjust their sights after the Chancellor announced proposals to reform capital gains tax in his pre-Budget report. By Helen Monks

  • Mystery still unsolved

    25 Oct 2007

    I refer to my recent letters concerning mystery shoppers and BGW Jamieson's second letter (Money Marketing, October 11) again attacking me, which was sadly both emotional and illogical.

  • Nationwide Building Society - Home Mover Five Year Fixed Rate With Fee

    25 Oct 2007

    Nationwide Building SocietyHome Mover Five Year Fixed Rate With Fee

  • Nationwide Building Society - Lifetime Tracker Remortgage - No Reservation Fee

    25 Oct 2007

    NationwideLifetime Tracker Remortgage - No Reservation Fee

  • Nationwide cuts 5 and 25-year fixed rates

    24 Oct 2007

    Nationwide Building Society is cutting the price of its 5-year and 25-year fixed rate mortgages from effect October 26.

  • New arrivals

    25 Oct 2007

    Alternative investment strategies are unfamiliar to many IFAs, mainly because they have historically been the reserve of very rich or institutional investors.

  • New head of CFA Institute Centre for EMEA region

    29 Oct 2007

    CFA Institute has announced the appointment of Charles Cronin as head of CFA Institute Centre for financial market integrity of the Europe, Middle East and Africa region.

  • New Star - Heart of Africa Fund

    26 Oct 2007

    New StarHeart of Africa Fund

  • New Star appoints country manager in Italy

    25 Oct 2007

    New Star International has announced the appointment of Arcangelo Barletta as country manager of Italy, to be based in Milan.

  • Niznik joins Artemis

    25 Oct 2007

    Mark Niznik has joined Artemis as co-manager of the Artemis UK smaller companies fund.

  • No easy options

    25 Oct 2007

    The government is right to review the Omo system but it should not be oversimplified

  • North Investment to play the healthcare property market

    25 Oct 2007

    North Investment Partners has added an investment trust that focuses on primary healthcare properties to the diversified absolute return fund of funds it runs for City Financial.

  • Northern Rock to increase rates across current product range

    26 Oct 2007

    Northern Rock will be increasing its rates across its current product range from October 28.

  • Northern Rock's Bank of England borrowing tops £20bn

    25 Oct 2007

    Northern Rock has borrowed another £4.7bn from the Bank of England, according to the bank's balance sheet for the week to Wednesday October 24, bringing the total amount borrowed to £20.6bn.

  • Norwich Union blames waning A-Day effect as pension sales fall 17 per cent

    25 Oct 2007

    Norwich Union has released its third quarter new business results which show that pension sales dropped by 17 per cent compared with last year.

  • NS&I re-tendering IFA service for jackpot winners

    29 Oct 2007

    National Savings & Investments is re-tendering for the IFA service it offers to its premium bond jackpot winners.

  • NU extends children's CI cover

    25 Oct 2007

    Norwich Union has extended its children's critical-illness cover to all its CI policies. The benefit was introduced as a standard inclusion from August 2003 and provides the lower of 10,000 or 50 per cent of the sum assured for each child on an adult's policy.

  • One in five employers intend to increase contributions to DC schemes

    29 Oct 2007

    One in five UK employers with defined contribution pension schemes are considering increasing the level of contributions paid to the scheme.

  • Oops, he did it again

    25 Oct 2007

    So the truth is out about why Alicante was chosen as the venue for the Sage conference. It seems that last year, with Alton Towers as venue, managing director Chris Edge was less than impressed as he was "wrongly" booked into the Barbie Sleepover Room. Edge was not prepared for the pink fluffy bedspread, four identical heart-shaped dressing table mirrors with lightbulbs and Britney Spears blaring out of the stereo. He changed rooms but not before giving his best rendition of Hit Me ...

  • Open season

    25 Oct 2007

    Four-page focus begins with Gregor Watt looking at why alternative markets are no longer restricted solely to the super-rich

  • Out of Context

    25 Oct 2007

    "It's legs. And they're hairy legs."

  • Over 60s cut back but sit on £841bn goldmine

    25 Oct 2007

    Two-thirds of pensioners are living on less than £10,000 a year, according to research from Norwich Union.

  • Paragon shares slide on funding concerns

    25 Oct 2007

    Paragon's share price fell by 10 per cent on Monday after analysts warned that the lender will have to run down its business if it does not secure further funding by February.

  • Pearl attacks Resolution's £1bn offer to Friends shareholders

    24 Oct 2007

    Pearl has hit back at Resolution's offer to pay out £1bn of surplus capital to Friends Provident shareholders as part of the agreed merger.

  • Pearl attacks Standard Life's offer for Resolution

    26 Oct 2007

    Pearl Group says Standard Life's bid for Resolution would be a "drag" on Standard Life's shareholders and would expose both firms' shareholders to downside risks.

  • Pearl looks to force Standard’s hand

    30 Oct 2007

    Pearl Assurance has called on Standard Life to clarify its position over any restructuring of its bid for Resolution.

  • Pearl ups its offer for Resolution and increases stakeholding further to 24 per cent

    26 Oct 2007

    Pearl has increased its cash offer for Resolution to 720 pence per share and has upped it stakeholding in the firm to 24 per cent.

  • Pearl urges Resolution board to consider its offer

    29 Oct 2007

    Pearl says it does not understand why Resolution's board is not recommending its higher cash offer to shareholders in light of the withdrawal of its recommendation for Standard Life's offer.

  • Personal Touch adds anti-money laundering tool to system

    29 Oct 2007

    Personal Touch Financial Services has added an anti-money laundering checking facility to its suite of tools.

  • 'Pessimists will talk the mortgage market down'

    25 Oct 2007

    Home Funding chief executive Tony Ward has hit out at industry commentators who are predicting lending volumes as low as £250bn in 2008 compared with a forecast £360bn this year.

  • Planting the seed

    24 Oct 2007

    This week saw Resolution join the growing monster that is multi-manager with the launch of its five funds into both the onshore and offshore markets.

  • Platform of choice

    25 Oct 2007

    I notice the heading Beautiful Wrap but I don't use wraps, I use platforms. The reason being something to do with eggs and baskets.

  • Playing it cool

    25 Oct 2007

    There is a buzz right now around alternatives, with climate change funds grabbing most of the headlines but Philip Scott finds a degree of caution among advisers

  • Points of review

    25 Oct 2007

    FSA head of the retail distribution review Amanda Bowe urges advisers to read the paper and offer their opinion on its proposals

  • Principality moves to affordability

    25 Oct 2007

    Principality Building Society is launching an affordability calculator for mortgage applications on October 29. It will consider income, expenditure and credit history and ensure the mortgage offer is tailored to each customer's needs and circumstances.

  • Product matters

    25 Oct 2007

    During the first half of October, Woolwich was offering a very competitive range of fixed rates with two, five and 10-year fixes all at 5.59 per cent with a £995 fee.

  • Profits up 44% at SimplyBiz

    25 Oct 2007

    The Office of National Statistics predicts the proportion of people aged 65 and over will increase from 16 per cent to 22 per cent by 2031. By 2031, there will be 2.9 people of working age for every person of state pension age, down from 3.3 currently.

  • Protected Distribution and Barclays make a splash

    25 Oct 2007

    Fund promotion firm Protected Distribution has teamed up with Barclays to offer the protected water fund.

  • Pru breaks free from its pigeonhole

    25 Oct 2007

    Known for its with-profits expertise, Pru aims to position itself as a provider of quality products backed by a multi-asset capability. Here, life and pension chief Gary Shaughnessy tells Money Marketing editor John Lappin he is proud that the FSA has picked up on much of Pru's business strategy in formulating the RDR paper, including factory gate pricing, and explains how it wants to help advisers make the transition to the post-RDR world

  • Pru looks at US-type annuities

    25 Oct 2007

    Prudential is looking at launching a variable annuity product into the UK market aimed at emulating the success of its US insurance business Jackson Life, which has a 5 per cent share of the US annuity market.

  • Pru packages equity release products

    25 Oct 2007

    Prudential claims it is moving equity release into the mainstream by bringing two plans within a single wrapper.

  • Reforms needed to avoid another Rock…

    25 Oct 2007

    The Government is to demand a package of international regulatory reforms in the aftermath of the Northern Rock debacle, including an investigation into the role and use of credit ratings.

  • Reforms set to boost final-salary transfers

    25 Oct 2007

    Government proposals to reduce the cap on the revaluation of deferred pension benefits could boost transfer values from final-salary schemes.

  • Regulatory blame game gathers pace

    29 Oct 2007

    The Northern Rock soap-opera continued last week with the Chancellor given an easy ride from the Treasury select committee and European Commissioner Charlie McCreevy blaming "gold-plated" UK regulations for the crisis.

  • Rent doesn't cover mortgage for one in ten property investors

    24 Oct 2007

    One third of today’s property investors say the income they generate only just covers their mortgage commitments and one in ten derive less income than they need.

  • Resolution accepts Standard Life's offer and breaks deal with Friends Provident

    26 Oct 2007

    Resolution has accepted Standard Life's takeover offer in a surprising U-turn which sees Resolution's proposed merger with Friends Provident overthrown.

  • Resolution board backs down on Standard Life offer

    29 Oct 2007

    Resolution’s board has withdrawn its recommendation of Standard Life's £4.9bn offer for the firm after rival bidder Pearl upped its stake in the business to 24.2 per cent.

  • Resolution confirms approach from Standard Life

    25 Oct 2007

    Resolution has confirmed that Standard Life has made an offer of 517p in cash and 0.715 Standard Life shares for each Resolution share today.

  • Resolution gives £200m boost to joint venture Maia

    25 Oct 2007

    Resolution Asset Management has jumpstarted its fourth joint venture, Maia Capital, by seeding its five funds with £200m.

  • Resolution in advanced discussions with Standard Life as deadline extended until noon

    26 Oct 2007

    Resolution has confirmed that it is in advanced discussions with Standard Life regarding a potential offer for Resolution.

  • Response time

    25 Oct 2007

    So have you responded to the RDR yet? Or let's put it another way, have you considered the situation and actively decided to leave it to others while informing them of your views through your network or support firm or by answering the Aifa survey?

  • Results season arrives while the politics of pensions persists

    25 Oct 2007

    Results season is once again upon us with Aviva, Prudential and Friends Provident all having announced their third quarter new business sales figures in the past few days.

  • Review views

    25 Oct 2007

    Opinion is divided on whether advisers are better off answering the retail distribution review themselves or leave it to networks, support services companies and Aifa. We asked various players in the market for their views on the issue of whether you should respond. The consensus is that if you have strong views on the issue, then you should put in your own response. If not, you should, at the very least, make sure that you give your feedback to someone or some organisation that is responding ..

  • Rough guide to Asia

    25 Oct 2007

    Recent falls in the Indian market, a popular area for investment of late, have underlined once again the volatility in emerging markets. However, they are unlikely to dampen enthusiasm for the region for very long.

  • Royal London buys Ascentric wrap

    26 Oct 2007

    Royal London has announced its intention to buy Investment Funds Direct Group Limited, which owns Ascentric wrap platform.

  • S2P changes deal further blow to final salary

    25 Oct 2007

    Pension guru Steve Bee says the pre-Budget report changes to the state second pension are another nail in the coffin of final-salary schemes.

  • Sants warns that firms are on radar over incentive schemes

    25 Oct 2007

    The FSA has reinforced its warning that some staff incentive schemes could result in clients being treated unfairly.

  • Scaling the heights

    25 Oct 2007

    Staff from Winterthur scaled the heights of the Republic of Ireland's highest mountain, Carrauntoohil, to raise £11,000 for Naomi House - a Hampshire-based children's hospice. Carrauntoohil in County Kerry stands at 1039m (3,414 ft) and is the highest point in Ireland. It is also home to the infamous Devil's Ladder - an uncomfortably steep gully that has prompted the most rescue attempts out of any area on the mountain. The Winterthur team completed the 12km round journey in just seven ...

  • Sense of value

    25 Oct 2007

    Remarking last week on how an appetite for risk had returned was more a consequence of the way in which emerging markets had behaved than a reflection of the performance of the lower end of the capitalisation stakes. The flood of money into less developed markets has been remarkable with China rushing ahead and the Hong Kong market up by about 40%.

  • Sesame ditches Standard for critical cover

    25 Oct 2007

    Standard Life has been axed from Sesame's critical-illness cover panel for failing to add traumatic head injury to its list of conditions.

  • Show of strength

    25 Oct 2007

    Listening to the Richard Bacon show on Five Live the other night, he was interviewing an MP who was just about to take on the Northern Rock crew the next morning.

  • Sifa urges individual submissions

    25 Oct 2007

    Sifa is calling on all of its members to respond individually to the retail distribution review and not just rely on the organisation to represent their views to the FSA.

  • Sipp service

    25 Oct 2007

    Our three experts give their views on deferred Sipps, the importance of Sipps with a drawdown facility, automated services and the appropriate level of client access to a provider's site

  • Skandia unveils team for merged operation

    25 Oct 2007

    Skandia has merged the commercial operations of Skandia Life and Selestia, with Skandia UK's former strategy director Nick Dixon appointed commercial director to head the team.

  • SPA ETFs - SPA MarketGrader Mid Cap

    25 Oct 2007

    SPA ETFsSPA MarketGrader Mid Cap

  • Standard would keep Cowdery

    25 Oct 2007

    Standard Life is expected to offer Resolution chairman Clive Cowdery a senior position at the firm if it makes a joint offer for the business with Swiss Re this week, as expected. The two firms are reportedly working on a £5bn bid for Resolution and have until Thursday, October 25 to unveil any offer.

  • Steve Cant & Associates joins Falcon

    24 Oct 2007

    Steve Cant & Associates has moved from Kilminster to Falcon as an appointed representative of its network.

  • Stick with managers for the long term

    25 Oct 2007

    Hargreaves Lansdown head of research Mark Dampier bel-ieves all fund managers will experience spells of underperformance and it is better to stick with them over the long term than jump out at the first sign of trouble.

  • Strong views as IFAs plan RDR responses

    25 Oct 2007

    Nine out of 10 of advisers believe GFA plans are detrimental for the FSA and the industry

  • T Bailey takes on Wise admin role

    25 Oct 2007

    T Bailey aims to take on the administration of another four or five multi-managers following its appointment as the authorised corporate director for three Wise Investments funds of funds.

  • T.Bailey Asset Management - UK Best Ideas Fund

    25 Oct 2007

    T.Bailey Asset ManagementUK Best Ideas Fund

  • T.Bailey shows confidence to deliver

    26 Oct 2007

    T.BaileyUK Best Ideas Fund

  • Takeover Panel says Standard Life broke rules in Resolution statement

    30 Oct 2007

    The Takeover Panel has reprimanded Standard Life for breaching takeover rules by releasing a statement suggesting it may improve its offer for Resolution without committing to do so.

  • Tax clampdown could add 10% to premiums

    25 Oct 2007

    RGA senior actuary Jason Hurley warns that protection premiums could rise by up to 10 per cent if proposals to remove tax relief on reinsurers go ahead.

  • Tesco to give away 2,000 bonus Clubcard points with its life insurance products

    30 Oct 2007

    Tesco Personal Finance is offering customers who buy Tesco Life Insurance before January 8 2008, 2,000 bonus Clubcard points.

  • Thames River Capital - Balanced Managed Fund

    25 Oct 2007

    Thames River CapitalBalanced Managed Fund

  • Thames River Capital - Cautious Managed Fund

    25 Oct 2007

    Thames River CapitalCautious Managed Fund

  • Thames River snaps up boutiques

    25 Oct 2007

    Thame River CapitalGlobal Boutiques Fund

  • The brunt of Bolton

    26 Oct 2007

    When you are informed that Edeus chief executive Michael Bolton will be one of the main speakers at a mortgage conference, you can pretty much expect he will make some headline grabbing comments.

  • The Mortgage Lender offers "no churn" guarantee

    30 Oct 2007

    The Mortgage Lender is offering a ‘no churn’ guarantee to its panel of lenders as the industry moves into what it says will be “an extremely choppy 2008”.

  • The Post Office launches life cover with £100 cash back

    24 Oct 2007

    The Post Office has launched a new life insurance product, underwritten by Norwich Union, and will give anyone taking out a policy a £100 cash back bonus.

  • The true test

    25 Oct 2007

    We are wrong to stress exams when competency is what really counts

  • The valuations factor

    25 Oct 2007

    IFAs looking to choose a client management system should see the way in which it can handle Sipp valuations as one of key criteria and almost every supplier would come up wanting

  • Thinc buys Bristol IFA Crest

    25 Oct 2007

    Thinc Group has bought Bristol IFA firm Crest Financial Group, which has nine advisers.

  • Tisa stands up in favour of CTFs

    24 Oct 2007

    Tax and Incentivised Savings Association is in agreement with the Economic Secretary over targeted promotion of child trust funds.

  • Tories report Government to Information Commissioner over Treasury FoI requests

    25 Oct 2007

    The Conservatives have reported the Government to the Information Commissioner for failing to answer or delaying a series of Freedom of Information requests to the Treasury.

  • Townsley becomes friendly president

    25 Oct 2007

    Sheffield Mutual Friendly Society chief executive Andrew Townsley has been elected president of the Association of Friendly Societies.

  • Trick or treat?

    25 Oct 2007

    A master stroke by Osborne is followed by Darling's cynical move on IHT

  • Turning points

    25 Oct 2007

    It may have surprised investors that equities re-established their upward path so quickly, given the severity of the turmoil suffered by credit markets.

  • UBS allays fears over sub-prime RMBS loss

    29 Oct 2007

    UBS has issued a statement to the market to confirm that the group’s third quarter pre-tax loss is in line with CHF 600 - 800 million range given on October 1.

  • Virgin Money keeps it in the family with deal for loans

    25 Oct 2007

    Virgin Money USA is offering a new family mortgage in the States which enables friends and families to lend to each other.

  • Virgin to launch climate change fund

    26 Oct 2007

    Virgin Money is planning to launch a climate change fund in January next year.

  • Whiter than white

    25 Oct 2007

    Imminent European regulation imposes new duties on financial advisers to help combat money laundering, says Lisa Kate Osofsky, senior financial adviser for corporate investigations at business intelligence consultancy Control Risk Group

  • Widows eyes severity launch

    25 Oct 2007

    Scottish Widows is thought to be considering launching a severity-based protection product, similar to PruProtect's new proposition, in the next six months.

  • Wolf's at the door

    25 Oct 2007

    The front pages of the financial services press have recently carried a few stories which were apparently issued by the ministry of the bleedin' obvious.

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