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24 September 2008

Money Marketing

  • Advice label warning for FSA

    25 September 2008

    Advisers have warned that misselling will increase if the FSA accepts this week's call from the ABI to allow tied and multi-tied agents under the advice banner.

  • "Business as usual" for Fortis UK, says Werth

    29 September 2008

    Fortis Life UK managing director Martin Werth has confirmed that the multi-nationalisation of Belgium bank Fortis has had no impact on its UK offering.

  • "UK business unaffected" as Fortis "multi-nationalised" for £8.9bn

    29 September 2008

    Belgium bank Fortis has been "multi-nationalised by three European governments for £8.9bn.

  • A force for the future

    25 September 2008

    House prices may still be falling and the difficulties in the mortgage funding show no signs of going away but Rob Clifford remains upbeat.

  • A life in the day

    25 September 2008

    Preparing, as I am, to take a couple of week's R&R, I found myself preparing this column further in advance than usual. Foolish boy! If a week is a long time in politics, just recently a day has become a lifetime in markets.

  • ABI attacks delay of price-sensitive takeover details

    25 September 2008

    The ABI and the UK Share-holders Association have hit out at the way that news of the Lloyds TSB/HBOS takeover was managed, suggesting that price-sensitive information was not released quickly enough.

  • Adviser Fund Index

    25 September 2008

    Global funds are growing in popularity as investors seek to diversify equity exposure.

  • Advisers back short stop

    25 September 2008

    Advisers have welcomed the FSA's decision to slap a temporary ban on the short-selling of financial stocks due to the extreme market conditions.

  • Advisers join regulator

    25 September 2008

    The FSA has appointed two new senior advisers. Graeme Hardie, formerly an Abbey director and Natwest managing director, will advise on retail markets and Ian Marshall, previously at the Financial Ombudsman Service, will deal with wholesale insurance.

  • Advisers uncertain over protection implications

    25 September 2008

    Advisers are split over the potential impact of the takeover of HBOS on the protection market with some saying it could spur on innovation while others believe it will make no difference.

  • Aegon launches bare discounted gift trust

    30 September 2008

    Aegon Scottish Equitable has extended its trust range with the launch of the bare discounted gift trust.

  • Aegon spicing up its cautious managed offering

    25 September 2008

    Aegon Asset Management is considering adding to its presence in the cautious managed sector.

  • Aifa to host RDR web chat for members

    26 September 2008

    The Association of Independent Financial Advisers will host a live web chat with policy director Andrew Strange on the retail distribution review next week.

  • AIG Life to close enhanced fund

    25 September 2008

    AIG Life UK is closing its enhanced fund on December 15, after suspending withdrawals from both the enhanced fund and the standard fund last week.

  • Another drop in Britain’s confidence in providing for retirement

    29 September 2008

    Britain’s confidence in providing for a comfortable retirement has dropped for the third year running, according to Alliance Trust Savings.

  • Archbishops condemn short-sellers

    25 September 2008

    The Archbishops of York and Canterbury have condemned the practices of City traders and backed the FSA’s ban on short-selling.

  • Aviva Investors officially launches

    29 September 2008

    Aviva Investors launches today as the £235m global asset management business of Aviva Plc.

  • AWD warns of FSCS compensation gap for trustee Sipps

    24 September 2008

    Pension savers should be wary of the gap in FSCS compensation payments between insured and trustee Sipps if the provider was to go bust.

  • B&B axe all branch-based advisers

    25 September 2008

    Bradford & Bingley has revealed it is set to axe all branch-based mortgage advisers in sweeping streamlining measures.

  • B&B branches and savings go to Abbey

    29 September 2008

    Bradford & Bingley’s retail savings business and branches have been transferred to Abbey by the Treasury.

  • B&B finalises GMAC-RFC terms

    25 September 2008

    Bradford & Bingley has finally renegotiated the terms of its mortgage forward sale agreement with GMAC-RFC. It will buy another 1.75bn of mortgage assets before the end of 2009.

  • B&B hits new low

    26 September 2008

    Shares in troubled lender Bradford & Bingley dropped to an all-time low this morning amidst job cuts and toxic asset bailouts.

  • B&B rescue deal - first industry reaction

    29 September 2008

    The mortgage industry has reacted to the Bradford & Bingley part-nationalisation, blaming the move on mistakes made a over decade ago.

  • B&B slash GMAC mortgage deal by £1bn

    24 September 2008

    Bradford & Bingley have cut their original mortgage asset deal with GMAC-RFC by £1bn.

  • B&B troubles sees FTSE 100 crash below 5,000

    29 September 2008

    The FTSE 100 sailed below 5,000 this morning as the nationalisation of Bradford & Bingley continued to hit confidence in the banking sector.

  • Barclays Wealth manager dies after trying to end fight

    30 September 2008

    Barclays Wealth chief operating officer Frank McGarahan has died after intervening in a street fight in Norwich city centre, according to various press reports.

  • Blue Sky sets out policy for Pips on HBOS deal

    25 September 2008

    Blue Sky has confirmed recent breaches to HBOS shares in its protected income plans will transfer to a combined Lloyds TSB/HBOS stock in the event of a takeover by Lloyds TSB.

  • Bold moves urged to add support

    25 September 2008

    The Government is being called on to be bolder in its support for the mortgage market and go further than its current plans to extend the special liquidity scheme.

  • Borrowing from the past offers perspective on crisis

    25 September 2008

    The worlds of journalism, the City and Wall Street have more in common than you might imagine.

  • Broker Talkback

    25 September 2008

    Was the FSA right to ban the short-selling of financial stocks?

  • Brown snubbed by Paulson on US visit, say reports

    25 September 2008

    US Treasury Secretary Hank Paulson is reported to have turned down a meeting with Prime Minister Gordon Brown on his trip to New York.

  • Burning question of broker brands after super deal

    25 September 2008

    The Lloyds TSB swoop for HBOS has left the intermediary sales arms at the two firms in the balance.

  • Bush reassures over $700bn bailout

    26 September 2008

    President Bush has reassured markets that legislators will pass the $700bn rescue plan to cleanse the markets of bad mortgages.

  • Bush urges $700bn bailout

    25 September 2008

    US President George Bush has urged Congress to push through plans that will see his Government buy up billions of dollars of illiquid mortgage assets.

  • Busy doing nothing

    25 September 2008

    The trouble with all this light-touch and principle-based regulation is that it does not actually work terribly well. I suspect we are better off without it.

  • Cable's tough line on financial regulation

    25 September 2008

    LibDem Shadow Chancellor Vince Cable is calling for tougher financial regulation with a clampdown on short-selling, bankers' bonuses and better capital provision.

  • Cameron backs FSA on ‘reckless bonus’ review

    29 September 2008

    David Cameron has supported the Financial Services Authority's decision to review banks' bonus structures but says he will not “bash city financiers” to regulate the markets.

  • Cameron calls for cross-party response to crisis

    30 September 2008

    Conservative leader David Cameron has offered to work with the Government to help restore financial stability.

  • Cameron vows to work with Labour to restore stability

    30 September 2008

    The Conservative leader David Cameron has warned that we should not let the political wrangling that we’ve seen in the US happen here.

  • Cautious changes

    25 September 2008

    Absolute return funds using shorting techniques are one approach being taken by some managers to provide investors with a defensive stance. More traditional ports of safety in times of market turmoil, besides cash and bond funds, have been managed funds. However, it is worth examining these funds quite closely as they bear little resemblance to what they once were.

  • Cavanagh profits up 23 per cent

    30 September 2008

    IFA Cavanagh Group has reported an increase in EBITDA of 23 per cent to £1.078m in the six months to June 30, up from £875,000 in 2007.

  • Cazenove's strength in diversity

    24 September 2008

  • Cazier slams Cofunds over decision to call time on re-reg fee for fund firms

    30 September 2008

    New Star head of product development Stuart Cazier has rounded on Cofunds after the platform revealed it is to stop paying fund managers a re-registration fee on Isas and Peps.

  • CBI predicts 12,000 finance job losses

    26 September 2008

    The Confederation of British Industry has predicted 12,000 jobs losses in the financial sector over the coming months.

  • Clear as mud

    25 September 2008

    A dictionary definition of the word transparent: "Free from pretense or deceit, easily detected or seen through, readily understood and characterised by visibility or accessibility of information especially concerning business practices."

  • Clock watching

    24 September 2008

    Multi-asset funds are in fashion after a year of disappointing stockmarket returns. The risk reduction and diverse sources of return these funds can offer present commanding evidence for a permanent place in a portfolio - all the more so if the fund manager can demonstrate an ability to add value by systematically tilting exposure towards the best performing asset classes as the economic cycle ticks on.

  • Collins Stewart launches dedicated treasury function in Jersey

    25 September 2008

    Collins Stewart Wealth Management has launched a dedicated treasury function in Jersey.

  • Comb the wreckage

    25 September 2008

    Freddie Mac, Fannie Mae, Lehman Brothers and AIG have combined to whip up a perfect storm which has howled on to UK shores over two unbelievable weeks. In the eye of the storm, the FTSE 100 closed below 5,000 points for the first time in three years and the UK’s biggest lender, HBOS, was rescued by rival Lloyds TSB.

  • Commodities trading again

    25 September 2008

    ETF Securities says all 113 of its exchange traded commodities backed by AIG are now trading again.

  • Conservatives pledge two year freeze on council tax

    29 September 2008

    The Conservatives have pledged a two-year freeze on council tax if they get into power.

  • Contagion must be stopped if it spreads, says Labour MP

    25 September 2008

    Senior Treasury select committee member Andy Love believes the Government must be prepared to follow US authorities and take more drastic action if the contagion of bad assets starts to spread.

  • Conti agrees deal with A Place in the Sun

    25 September 2008

    Conti Financial Services has become the official broker of the TV series A Place in the Sun.

  • Crosby report delayed

    30 September 2008

    The Crosby review into the UK’s mortgage market is to be delayed, the Treasury has revealed.

  • Don't believe the hype

    24 September 2008

    Fund of funds managers are keen to prove their role involves more than fund selection. We also deliver active management, asset allocation and portfolio diversification. But being able to spot the top funds - and equally importantly, avoid the dogs - is what we are best known for and it is a core skill.

  • Don't sell us short

    25 September 2008

    It is hard to overstate the magnitude of the financial storm that has been blowing.

  • Dual role for Frost at Witan

    25 September 2008

    Witan Investment Trust has appointed James Frost as managing director and marketing director.

  • ECB could become the biggest toxic bank of them all - Tories

    29 September 2008

    Conservative Shadow Chief Secretary to the Treasury Philip Hammond has warned that the European Central Bank could end up becoming "the biggest toxic bank of them all".

  • Editor's view - Republican party reptiles trash capitalism

    30 September 2008

    So capitalism and free markets are to be laid low by the biggest political exponents of capitalism and free markets on the planet - the right wing of the American Republican party.

  • EIT reaches for the stars

    25 September 2008

    Fidelity International resigned as manager of the Edinburgh Investment Trust this week, bringing an end to months of strained relations between the firms over performance and future plans for the trust.

  • Evershed leaves New Star

    29 September 2008

    New Star fund manager Patrick Evershed has left the firm after six years.

  • Ex-Competition Commission Labour peer warns on Lloyds HBOS deal

    24 September 2008

    A Labour peer and former deputy chair of the Competition Commission Baroness Kingsmill has said she is "extremely concerned" about the Lloyds TSB HBOS takeover.

  • Ex-SJP chief to head Money Portal

    25 September 2008

    Former St James's Place chief executive Mark Lund is to become group chief executive at Money Portal.

  • Failure not an option

    25 September 2008

  • Fair exchange?

    24 September 2008

    The inclusion of exchange traded funds within multi-manager portfolios polarises opinion. There is the school of thought that believes it is a dereliction of duty and that it is a multi-manager's job to find the best active managers. However, there is also the school of thought that believes ETFs have a place, either for short-term asset allocation moves or for temporary market exposure. Is either side right?

  • Fat cats sitting pretty

    29 September 2008

    Yes the capitalist model was designed to lavish wealth on the fat cats at the top of the ladder when times are good. But was it also designed to allow said fat cats to walk away unscathed when times turn bad, forcing taxpayers to pick up the pieces of broken businesses?

  • Favourite Funds

    24 September 2008

  • First-time buyer pledge saw Brown sanction deal

    25 September 2008

    Lloyds TSB's buyout of HBOS suited the Government and both firms, with the Prime Minister amending competition rules to seal the deal.

  • Flint wants second-charge repo probe

    25 September 2008

    Housing minister Caroline Flint has criticised GE Money and called for an investigation of second-charge loan companies over repossession levels.

  • FOS to name and shame companies with highest claims numbers

    25 September 2008

    The Financial Ombudsman Service has announced plans to publish complaint numbers for 150 financial businesses that produce the most cases, as well as the percentage of upheld complaints.

  • Friends Prov International opens office in Dubai

    26 September 2008

    Friends Provident International has opened a new Middle East office in the central business district of Dubai.

  • FSA bans two more brokers

    30 September 2008

    The FSA has banned North Wales mortgage broker Stephen Jones and fined him £100,000 after finding he had exposed about 1500 customers to the risk of receiving unsuitable advice.

  • FSA censures sub-prime brokers

    30 September 2008

    The FSA has censured the directors of Lifestyle Finance Limited for failing to implement appropriate compliance and sales procedures to ensure customers were given suitable mortgage advice.

  • FSA chief admits knowledge of B&B turmoil for “several months”

    30 September 2008

    FSA chairman Lord Turner has confirmed that the tripartite authorities have been tracking Bradford and Bingley for several months and had been concerned about its long-term sustainability.

  • FSA fines GE Money £1.12m

    25 September 2008

    The Financial Services Authority has fined GE Money Home Lending £1.12 million for systems and controls failings that resulted in 684 borrowers suffering financial loss in excess of £2.3m

  • FSA plans to increase PPI intervention

    30 September 2008

    The Financial Services Authority is stepping up its intervention into the poor sale of payment protection insurance after a mystery shopping programme revealed very few consumers are being told the true cost of PPI.

  • FSA short-selling ban lifts investor confidence ‘slightly’, says survey

    25 September 2008

    The FSA’s ban on short-selling has improved private investors’ confidence, but only slightly, according to a series of surveys by DigitalLook.com.

  • FSA urged to fund guidance tier

    25 September 2008

    The FSA should set an industry levy in order to fund money guidance, says LibDem Shadow Chancellor Vince Cable.

  • FSA warns on Sipp advice

    29 September 2008

    The FSA is warning firms they must ensure they give consumers suitable advice about transferring built-up national insurance rebates into self-invested personal pensions.

  • GE Money close Wolverhampton offices

    30 September 2008

    GE Money has revealed it is consolidating its UK business by closing down its Wolverhampton offices.

  • GE Money criticised as rates rise

    25 September 2008

    John Charcol senior technical manager Ray Boulger has attacked GE Money's attitude to treating customers fairly after it introduced emergency rate changes last week.

  • Global firms hit by £1.5bn exposure to Lehman

    25 September 2008

    UK and global insurers have so far revealed over £1.5bn of exposure to Lehman Brothers and AIG.

  • GMAC-RFC becomes asset management company

    29 September 2008

    GMAC-RFC has revealed it is set to merge with GMAC European operations to become an asset management company.

  • Go by the board

    25 September 2008

    Ibet that shareholders in Edinburgh Investment Trust cannot believe their luck. Having seen their holding struggle in recent times, it now has one of the UK's leading fund managers, Neil Woodford, running the show.

  • Government to introduce new permanent short-selling regulations

    24 September 2008

    Prime Minister Gordon Brown says he expects new rules will be introduced on short-selling after the FSA's temporary restrictions are reviewed.

  • Healthy living to win tax breaks

    25 September 2008

    People who lead healthy lifestyles would get tax breaks under LibDem plans.

  • IFA firms link up for passive strategy

    25 September 2008

    Eight IFA firms have joined forces to set up Evidence Based Investment Solutions, a service dedicated to passive investment strategies.

  • IFA urges FSA levy for structured products

    25 September 2008

    An IFA has called on the FSA to introduce a structured product levy to protect investors who are not covered by the FSCS.

  • IFAs could face FSCS B&B bill

    29 September 2008

    Industry experts have warned that IFAs and brokers could face footing some of the bill in the wake of the Government’s Bradford & Bingley rescue.

  • IFAs launch organisation against expensive fund managers

    24 September 2008

    Eight IFA firms have banded together to launch a new organisation designed at educating the market on the benefits of passive investments.

  • IFAs warned of PI risks in client surveys

    25 September 2008

    Professional indemnity insurers may increase premiums for IFA firms which send out treating customers fairly questionnaires to clients as it could lead to a rise in complaints.

  • Ifs school steps up bid for degree status

    25 September 2008

    The Quality Assurance Agency for Higher Education has rejected attempts by the ifs School of Finance to become a degree-awarding instit- ution, Money Marketing understands.

  • IMA rejects FSA proposals for reduction in yield requirement

    30 September 2008

    The Investment Management Association has opposed the Financial Services Authority's proposals to require authorised funds to continue to publish reduction in yield information.

  • IMA slams structured risks

    25 September 2008

    Investment Management Association chairman Robert Jenkins has urged regulators to tackle the opaque nature of structured products, with advisers' concern rising over potential losses created by products underwritten or powered by Lehman Brothers.

  • IMA stats reveal continued absolute return demand

    29 September 2008

    Absolute return funds continued as the most popular retail sector in August, according to figures from the Investment Management Association.

  • IMA urges government to simplify UK tax environment

    29 September 2008

    The Investment Management Association has called for a 'certain, predictable and simplified tax environment' to boost UK competitiveness.

  • IMA warning firms on bank stock lending

    25 September 2008

    The Investment Management Association has warned its members to "carefully consider" the implications of any participation in the lending stock of UK banks due to current market conditions.

  • Insurance giant could put squeeze on the life market

    25 September 2008

    The creation of a giant Lloyds TSB/HBOS life insurance firm with 18 per cent of the market could damage companies life offices, claims an analyst at Keefe Bruyette & Woods.

  • It takes two to tango

    25 September 2008

    Nearly four years ago, my firm decided that it needed to charge a separate fee when setting up Isas and collectives. Taking initial commission was not an option, in our view, as it varied from fund to fund and wrap to wrap. Our clients were extremely positive about this stance but soon seemed to expect more from us, once they perceived that they were actually paying for something. We realised that we needed to be offering up-to-the-minute asset allocation advice and delivering an annual ...

  • John Charcol to distribute L&G protection products

    24 September 2008

    Legal & General is teaming up with mortgage expert John Charcol to distribute its protection and mortgage payment protection insurance products.

  • L&G expands tele-underwriting offering

    25 September 2008

    Legal & General has unveiled its plans to use out-of-hours healthcare specialist Primecare to follow up on certain medical disclosures made during the application process.

  • L&G launches guaranteed acceptance over 50s plan

    30 September 2008

    Legal & General has unveiled its plans to launch a guaranteed acceptance over 50s life insurance plan to people aged 50 to 75.

  • Lawrence House chief delivers warning on “clever” investment products

    25 September 2008

    Lawrence House Fund Managers head of investments Alan Stokes believes that advisers with limited experience are buying into new investment strategies without fully understanding the potential risks.

  • Lehman and AIG - the holdings

    25 September 2008

    Fund firms look set to feel the brunt of the financial problems that have beset both AIG and bankrupt firm Lehman Brothers.

  • Lehman Brothers applies to The Pension Protection Fund.

    29 September 2008

    The Pension Protection Fund has confirmed that it has received a S120 notice from the investment bank Lehman Brothers.

  • Lehman loss provision less than 1% of loan books

    25 September 2008

    Lehman Brothers' UK sub-prime lenders allocated mortgage loss provisions at less than 1 per cent of their mortgage books, far lower than the industry average, according to its latest accounts.

  • Lehman was selling right up to crash

    25 September 2008

    A leading UK adviser has hit out at Lehman Brothers for continuing to market structured products days before its collapse.

  • Liontrust expands team with New Star hire

    29 September 2008

    Liontrust Asset Management has appointed New Star's Tim Gordon as third party distribution manager.

  • Lipsey expects regulator to find middle way for RDR

    25 September 2008

    Financial Services Consumer Panel chairman Lord Lipsey believes the regulator will heed calls to create a middle ground between the strict sales and advice distinctions outlined in its RDR interim report.

  • London & Capital's Robert Bell

    25 September 2008

    Last week, Money Marketing mistakenly referred to London & Capital's Structured Products director Robert Bell as Robert Hall. We apologise for any confusion caused.

  • Look to our heritage

    25 September 2008

    Tom Baigrie's recent call to arms in respect of raising awareness of income protection among consumers serves as a salutary reminder that protecting one's family and assets was the original basis of our industry.

  • Lowes WM to launch new fund with Way

    24 September 2008

    Beijing-based fund manager Lowes Wealth Management is teaming up with Way fund managers to launch the Elite LWM east-west value fund.

  • Maia looks to the long term

    24 September 2008

    As soon as Resolution director Jonathan Polin had outlined his joint-venture strategy for the firm, it almost seemed a case of when, rather than if, a multi-manager team would be joining the ranks.

  • Make a smart move

    25 September 2008

    Pension consolidation has been a common theme since A-Day, with many advisers reviewing their clients' existing pension arrangements. The changes to pension regulation that come into force from October 1, which will allow much greater freedom for the self-investment of protected rights, will only increase activity in this area.

  • Make the upgrade

    25 September 2008

    So it's official. We can all feel the business downturn. The economy is the worst it has been since 1948 but the circumstances then were very different.

  • Mann quits Bankhall for Skandia development role

    25 September 2008

    Bankhall chief executive Peter Mann says the firm will search externally for the "special person" to drive the business forward following his decision to join Skandia as chief development officer.

  • Markets fluctuate following US bail-out deal failure

    30 September 2008

    The FTSE and other leading indexes endured a topsy-turvy start to trading this morning after the $700bn US rescue plan failed to get backing from the House of Representatives.

  • Merrill Lynch - the holdings

    25 September 2008

    These figures from Financial Express show the impact the last-minute deal by Bank of America to save the US's biggest brokerage firm Merrill Lynch from falling into administration could have on a range of retail funds.

  • Midas packs a heavyweight punch

    24 September 2008

    It needs a boxing analogy to describe Midas Capital's attitude to competing as a multi-manager.

  • Money Portal appoints Nigel Ward as group chief financial officer

    25 September 2008

    Money Portal has appointed Nigel Ward as group chief financial officer.

  • Moneysupermarket.com encourages PPI

    30 September 2008

    Moneysupermarket.com head of protection Emma Walker is urging consumers to protect themselves against redundancy by considering payment protection insurance.

  • Mortgage rates set to soar after Libor leaps

    25 September 2008

    Fixed and tracker mortgage rates are set to follow Libor rates sharply upwards following the Lehman Brothers' collapse and HBOS takeover.

  • Mortgageforce reveals record new business

    24 September 2008

    Mortgageforce has revealed its centrally generated new business has doubled in the last three months.

  • MP makes call for ban on excessive lending

    25 September 2008

    The Labour chairman of the regulatory reform select committee is urging the Government to consider new regulations to impose limits on excessive lending.

  • Multi faceted

    25 September 2008

    Tony Yousefian, chief investment officer and founder of OPM Fund Management, which was started in 2003, manages a variety of multi-asset funds. Tony has had a first-class career, ending up as a director of Smith & Pinching Portfolio Management before founding OPM.

  • Multi-manager dilemma

    25 September 2008

    AWD Chase de Vere head of investment research Justine Fearns believes that the future of Swip and Insight's multi-manager proposition could be the most difficult part of Lloyds TSB's takeover of HBOS.

  • Naked Crunch

    25 September 2008

  • Neptune stands by Russian prospects

    25 September 2008

    Neptune's Robin Geffen believes the Russian economy will grow strongly into next year despite falls in commodity prices, global contagion fears and stockmarket suspensions.

  • Network Data profits down a third

    26 September 2008

    Network Data has revealed profits were down by more than a third in the first half of 2008.

  • New Star looks to put the fizz back in 'Lemon' funds

    25 September 2008

    New Star admits that some of its funds have lacked zest after it topped the list of firms with underperforming assets in Informed Choice's first LemonAid report.

  • Norwich Union International updates offshore website

    29 September 2008

    Norwich Union International has made changes to its offshore website, www.nuinternational.com.

  • O'Brien hits out at 'wild claims'

    25 September 2008

    Pension minister Mike O'Brien has attacked the "wild claims" about the number of people likely to lose out under personal accounts and says they are unlikely to hold up to scrutiny.

  • Osborne points the finger at bankers

    29 September 2008

    Shadow Chancellor George Osborne told bankers today that they must bear the cost of risks that have gone bad.

  • Overhaul plan for pensions

    25 September 2008

    The Liberal Democrats have backed Money Marketing's Time to Get Personal campaign amid concerns over the conflict between means-testing and personal accounts.

  • Paraplanners can keep advisers well informed

    25 September 2008

    Nick Bamford's suggested functions for paraplanners and administrators (MM, September 11) shows there is an important role for paraplanners to perform in an IFA firm.

  • Partnership launches monthly income product for smokers

    26 September 2008

    Partnership has launched the latest development in its range of annuity products, a monthly income Purchased Life Annuity targeted at smokers.

  • Pensions, politics and Miliband's banana

    25 September 2008

    Pensions minister Mike O'Brien laid into those making "wild claims” about the number of people set to lose out under personal accounts this week at the Labour conference in Manchester.

  • Political fly in the ointment

    26 September 2008

    The US Congress faces a long weekend as believers in the $700bn Paulson bailout fight it out against those trying to block the plans.

  • Pop goes the wheeze

    25 September 2008

    One of the delights of being a journalist is that we are often invited to meetings and lunches with investment houses, fund managers and other financial wizards.

  • PPF Levy to remain stable

    25 September 2008

    The PPF has announced its pension protection levy will remain stable for 2009/2010.

  • Prestbury ARs to recoup fees with Personal Touch

    24 September 2008

    Prestbury has confirmed that its appointed representatives will be offered the chance to recoup missing fees by joining Personal Touch Financial Services.

  • Protect us from this tie-up

    24 September 2008

    The Lloyds TSB/HBOS tie-up begs the question of whether two similar brands can share the same protection space or, will the industry see the creation of an insurance giant?

  • Protection principles

    25 September 2008

  • Provider offers compensation in a Sipp

    29 September 2008

    Friends Provident has recognised that the current economic uncertainty will do nothing to encourage investment and investors will be even more cautious about making decisions especially when it comes to assessing the stability of financial providers.

  • Pru extends fund link on investment and pensions range

    29 September 2008

    Prudential is launching a fund-link across its investment and pension range.

  • PwC axes jobs at Lehman Brothers

    30 September 2008

    PricewaterhouseCoopers has announced that following a review, it has made 750 employees of Lehman Brothers redundant with effect from today.

  • Regulator accused in structured fiasco

    25 September 2008

    Leading advisers have accused the FSA of failing to learn from the mistakes of the past as providers struggle to ascertain the potential losses of structured products backed by Lehman Brothers.

  • Re-reg realism

    25 September 2008

    Re-registration facilities or, to be more accurate, the lack of them, continue to be one of the most emotive subjects in our industry. It seems to have become fashionable to lay much of the blame at the door of the regulator, citing a failure on its part to use treating customers fairly as a way to force platforms to deliver on this issue.

  • Riding out the rough seas

    25 September 2008

    The financial services industry is at a rare defining moment. We are faced with a unique set of exceptional circumstances that have collided to create the perfect storm.

  • Schroder’s Buxton points to market low

    26 September 2008

    Schroders head of equities Richard Buxton says the creation of the US bail-out plan probably marks the low-point for the market as it a decision the government cannot step back from.

  • Sesame seminars to help brokers diversify

    24 September 2008

    Sesame will use its latest round of regional mortgage seminars, beginning October 2, to help mortgage brokers diversify into new product areas including protection and general insurance.

  • Shorting ban won't hit absolute return

    25 September 2008

    Hargreaves Lansdown believes investors should not be concerned about placing assets in absolute return funds following the FSA's short-selling ban on 32 financial institutions.

  • Simon Clamp

    25 September 2008

    In theory, Simon Clamp should be fluent in German, having been born and brought up there, but he says his language skills only extend to "ordering a couple of beers and a bratwurst and chips".

  • SimplyBiz buys out joint ventures

    25 September 2008

    SimplyBiz has bought the total share capital in Simply Biz Mortgages and Broker Support Services. Both firms were set up in 2005 as 50/50 joint ventures.

  • Superbank's share raises concerns on competition

    25 September 2008

    The £12.2bn takeover of HBOS will see the new superbank control 28 per cent of the UK mortgage market, leading to broker concern over competition and cuts in proc fees.

  • Take cover in turmoil

    25 September 2008

    People's lifestyles in retirement and therefore the solutions they require are changing and will continue to do so.

  • Tenet backs Skandia over platform re-price

    25 September 2008

    Tenet has welcomed Skandia’s decision to remove its entire front end margin received through Selestia Investment Solutions.

  • That was the week that was

    25 September 2008

    As CEO of the Institute of Financial Planning, I get to sit with my peers from Australia, the US, South Africa, Hong Kong and other leading financial planning countries. We discuss, among other things, how we can leverage off the positive work we are all doing in our own countries.

  • The counterparty's over

    25 September 2008

    Advisers remain uncertain about the scale of possible losses to clients' capital in Lehman Brothers-backed structured products, with the Financial Services Compensation Scheme unlikely to rescue investors.

  • The days that shook the world markets

    25 September 2008

    Monday, September 8Lehman Brothers posts a loss of $3.9bn (£2.2bn) in its financial results for the three months to August. Its share price tumbles sharply as concerns are raised about its financial position and firms refuse to trade with it.

  • The Irish Government to safeguard all deposits

    30 September 2008

    The Irish Government has announced it will guarantee all deposits in the wake of turbulence in the international financial markets. In response to the announcement, shares in the three biggest banks climbed.

  • The lessons of history

    25 September 2008

    Credit crunch, economic weakness, volatile financial markets, high oil prices, inflation worries, rising unemployment, declining property prices, increasing government borrowing, rock-bottom confidence indicators, a stockmarket off more than 20 per cent...no, we aren't talking about today but rather the situation that existed in late 1990.

  • The Mott juste

    25 September 2008

    I have rarely seen markets like this, the mood can change from one minute to the next. Given the current environment, I will revisit a fund I covered only recently - PSigma income. I want to use it to reinforce the views I expressed last week - that interest rates must come down.

  • Thinc bins multi-tie arm

    29 September 2008

    Axa-owned Thinc Group is to transfer its multi-tie national advisers to a whole of market proposition by the end of this year.

  • Tories to give BoE more power

    28 September 2008

    The Conservatives have called for the Bank of England to be granted stronger powers to monitor banks’ lending and for an independent body to scrutinise Government spending and debt.

  • Tory Shadow Secretary says UK faces worse crisis than US

    28 September 2008

    Conservative Shadow Chief Secretary to the Treasury Philip Hammond has warned the financial crisis facing the UK is more grave than that facing the US.

  • Towry Law awarded chartered financial planner status

    30 September 2008

    The Chartered Insurance Institute has awarded wealth advisory firm Towry Law chartered financial planner status.

  • Transferring annuities - an equation for happiness

    25 September 2008

    I have some suggestions to speed up what remains an appallingly slow process with most providers.

  • Turning pain into gain

    25 September 2008

    Among much other stunning (but not in a good way) financial news over the past few weeks, we have been told that the consumer prices index increased by 4.7 per cent over the 12 months to July. The corresponding increase in the retail prices index was 4.8 per cent.

  • US bailout agreement reaction

    29 September 2008

    A tentative agreement has been reached in the US over the government’s proposed $700bn lifeline, which could force the financial services sector to cover any losses on the rescue plan.

  • US politicians under pressure to resolve current turmoil

    30 September 2008

    US House members are under enormous pressure to resolve the current impasse, according to Julius Baer.

  • Users wary of comparisons on websites

    25 September 2008

    Few consumers who use price comparison websites believe they are truly independent.

  • Ussher says mutuals are not immune

    25 September 2008

    Treasury Economic Secretary Kitty Ussher believes that consumers are not paying the price for demutualisation.

  • Wait off your mind

    25 September 2008

    I turn 60 next month but have no real intention of retiring in the near future as I cannot afford it. Do I have to take my pensions at age 60 or do I have the flexibility to delay? What are my retirement options?

  • Waiting goes on for structured damage details

    25 September 2008

    Advisers and providers are still in the dark over the damage to structured product plans in the aftermath of Lehman Brothers' collapse.

  • Wealthtime to launch new service

    29 September 2008

    Wealthtime has announced that it is to create a Wealthtime Private Client Service that will include Sipp and wrap options in October.

  • When will FSA be held accountable for failures?

    25 September 2008

  • Which? writes letter to FSA calling for PPI reform

    30 September 2008

    Consumer body Which? has written to the FSA calling for an overhaul of the payment protection insurance market after one couple paid over £22,000 in PPI for a £56,000 loan.

AXA Wealth


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