Money Marketing
25 April 2007

  • Bamford warning for whole of market advisers

    1 May 2007

    Influential IFA and joint managing director of Informed Choice Nick Bamford says that whole of market advisers will have to accept their business model is not sustainable.

  • Massive Portman majority for merger

    26 Apr 2007

    Portman Building Society members have voted overwhelmingly in favour of the merger with Nationwide, with 93 per cent of eligible shareholding members and 92.6 per cent of eligible borrowing members supporting the move.

  • NU pension business slows down

    26 Apr 2007

    Norwich Union has seen a drop in pension sales as the A-Day effect began to wear off with total pension sales down to £1.14bn in the first quarter compared with £1.27bn in the same period last year. Overall UK sales rose to £3.5bn from £3.2bn in 2006.

  • PMS adds 150 members in month

    26 Apr 2007

    Premier Mortgage Services has signed up 150 new members since it launched its new proposition last month.

  • ScotLife deadline for payouts

    26 Apr 2007

    Scottish Life is appealing for 15,000 former members to claim their demutualisation payments totalling £7.5m before the deadline passes on July 1.

  • 10 per cent more schemes would be in surplus if not for Chancellor's pensions raid

    30 Apr 2007

    One third of pension schemes are now in surplus, according to AonConsulting.

  • A shaw thing

    26 Apr 2007

    After tearing round financial services technology firms, broken up by very fine steak and some cracking equity investment tips, courtesy of the Gaucho Grill and Praemium's Pete Burtonshaw, I was ready to get off the wagon.

  • A Sipp for all stages from Scot Wids

    27 Apr 2007

    Scottish WidowsRetirement Account

  • Abbey in warning on asset allocation tools

    26 Apr 2007

    Abbey Wealth Management is warning that asset allocation tools could trigger the next big industry scandal.

  • Abbey's ailing flagships come into harbour

    26 Apr 2007

    Chris Salih says Santander's decision to bring two of its biggest funds in house has left investment commentators unimpressed.

  • ABI calls for ban on commission

    26 Apr 2007

    The Association of British Insurers is pressing for a ban on adviser commission in its strongest attack yet on the intermediary sector.

  • ABI claims age 70 victory

    27 Apr 2007

    The Association of British Insurers is claiming victory for the FSA's decision to scrap the Age 70 rule which was announced today.

  • ABI proposes changes to PMI definitions

    30 Apr 2007

    The Association of British Insurers has today released a consultation document which proposes changes to private medical insurance in a bid to improve consumer understanding of the product.

  • ABI says it does not want commission ban

    1 May 2007

    The ABI says it is not calling for a ban on commission and says that the paper reported in last week’s Money Marketing was based on an out of date, internal ABI discussion paper.

  • Accessible designs

    26 Apr 2007

    I agree whole-heartedly with a recent survey that the clarity and usefulness of most providers' yearly personal pension statements (and the initial illustrations) leave a great deal to be desired.

  • Actuaries call for shared-risk pensions

    26 Apr 2007

    The Government must introduce radical reforms in its deregulatory review of pensions, including a "shared-risk" scheme to avoid levelling down with personal accounts, says the Association of Consulting Actuaries.

  • Adviser Fund Index

    26 Apr 2007

    The Adviser Fund Index panellists displayed a bearish stance on American equities in the second mid-season questionnaire.

  • Advisers hit back at ABI

    27 Apr 2007

    The adviser community has lined up to attack the ABI’s proposals to ban commission and resurrect large scale direct sales forces.

  • Advisers see surge in Sipp commission

    26 Apr 2007

    Insurance companies are paying up to twice the level of commission for new Sipp business than on personal pension and stakeholder sales despite the majority of Sipp money sitting in insured funds.

  • Advisers welcome FSA shadow

    26 Apr 2007

    Further to the article headlined, FSA placement plan casts shadow on IFAs, featured on page one of Money Marketing, April 12, we would like to give you some background information on the scheme to clarify some points.

  • Aegon expands ethical choice

    27 Apr 2007

    Aegon Asset ManagementEthical Cautious Managed Fund

  • Aifa calls for spending review of the FSA every two years

    30 Apr 2007

    Aifa director general Chris Cummings is calling for the National Audit Office to scrutinise the FSA every two years.

  • Aifa declares “start of a new era”

    26 Apr 2007

    Aifa has set out its retail distribution review proposals including no regulatory constraints on how consumers pay for advice, fairer interpretation of limitation rules and regulatory dividend incentives.

  • Alliance Trust boutique hires new manager

    25 Apr 2007

    Alliance Trust's boutique asset management company, AT Asset Management (Asia Pacific) has appointed Jay Newman as senior portfolio manager.

  • Andy Briggs

    26 Apr 2007

    Scottish Widows' new managing director of marketing and distribution is riding on a high as he believes the answer to improving savings and protection coverage lies in the power of its unique combination of the Widows' IFA-focused arms to Lloyds TSB's bancassurance model, which could see it become the UK's leading life and pension company. Interview by Sam Shaw.

  • Another round of musical chairs

    25 Apr 2007

    It seems the industry transfer window is open again as a number of investment firms have been flexing their chequebooks ready to splash the cash.

  • Arsenal's Emirates Stadium last week...

    26 Apr 2007

    Arsenal's Emirates Stadium last week shared its plush surroundings and conference facilities with the Association of Home Information Pack Providers' spring conference and those lyrical hopefuls auditioning for this year's X Factor talent TV show.

  • Asda boosts protection sales after linking with Lifesearch

    26 Apr 2007

    Asda says it has written 30 per cent more protection business since it started offering advice to customers through its tie-up with Lifesearch.

  • Balls puts pressure on FSA over age 70 rule

    26 Apr 2007

    Treasury Economic Secretary Ed Balls wants the FSA to scrap the age 70 rule on protection sales.

  • Bankhall backs FSA on compliance

    26 Apr 2007

    Bankhall is backing the FSA's calls for advisers to implement the recommendations of their compliance consultants and says advisers must take care they do not miss important issues.

  • Barings brings Russia fund to the UK market

    30 Apr 2007

    The Baring Russia fund will now be available to UK investors, following approval from the Financial Services Authority for the fund to be registered in the United Kingdom.

  • Barnard key speech on the future of protection

    26 Apr 2007

    The architect of critical illness cover Dr Marius Barnard will be the guest speaker at this year's Protection Review Awards dinner on July 11.

  • Biotech U-turn

    26 Apr 2007

    Most asset classes have seen dramatic rises over the last few years. This has made true diversification much harder to achieve since there is little point diversifying into what is already a fully priced asset class.

  • Boomer and bust?

    26 Apr 2007

    Inevitably, after I sounded more words of caution, markets continued their upward progress for part of the week.

  • Boots in PMI tie-up with PruHealth

    26 Apr 2007

    Boots is hoping to break into the UK private medical insurance market by partnering with PruHealth to launch products in its 1,500 stores.

  • Borrowers showing no signs of going green

    26 Apr 2007

    Brokers say there has been almost no demand for green mortgages despite the Chancellor calling on lenders to develop more environmentally-friendly loans in last month's Budget.

  • Briault says lenders must stress-test their business

    26 Apr 2007

    The FSA says lenders need to more rigorously stress-test their businesses and should allow for significant house price falls in their planning.

  • Broker Talkback

    26 Apr 2007

    Is the ABI doing enough to educate advisers about changes to its critical-illness policy definitions?

  • Brown beating

    26 Apr 2007

    Paul McMillan reports on Parliament's Punch and Judy show.

  • Bupa revises CI product

    25 Apr 2007

    Bupa Individual Protection has revised its critical illness product covering 14 additional conditions above the ABI minimum standards.

  • Can regulator run rule over house moves?

    26 Apr 2007

    The FSA has warned mortgage lenders that they need to be wary of increasing defaults, potential falls in house prices and how this might affect the sub-prime market in particular.

  • CI price war predicted to intensify as definitions are updated

    26 Apr 2007

    Protection providers predict the price war in the critical-illness insurance market will hot up following implementation of the new policy definitions.

  • CII and SII join forces on qualifications

    27 Apr 2007

    The Chartered Insurance Institute and the Securities & Investment Institute have announced an agreement that will see the two companies join forces and align their qualifications.

  • 'Claim firms set to target other plans'

    26 Apr 2007

    The Government says claim management companies could target other financial products, including free-standing AVCs, pensions, Pep or Isa mortgages, maximum income plans, whole of life policies, permanent health insurance and interest-only mortgages.

  • Claims chasers make £75m a year from endowments

    26 Apr 2007

    The claims management industry is turning over £75m a year from endowment mortgage complaints according to a baseline report from the Department for Constitutional Affairs issued to coincide with the start of regulation this week. The DCA has issued the report and other statements outlining its policies. The Claims Management Regulation Monitoring and Compliance Unit, based at Staffordshire’s trading standards office in Burton on Trent, says the mainproblems with endowment ...

  • Clerical Medical Intl bond targeting corporate cash

    26 Apr 2007

    Clerical Medical International has introduced an offshore investment bond for companies that are not maximising their cash reserves.

  • Conference call for ethical investment

    26 Apr 2007

    Aegon Asset Management is holding an ethical investment conference call for advisers on May 3 at 11am. It will feature ethical bond fund manger Phil Milburn and ethical equity and cautious managed fund manager Audrey Ryan. Advisers can register at Asset.tv.

  • Consistent success

    26 Apr 2007

    Speculating when to sell or buy is counter-intuitive to how investors should approach equity markets, which are more volatile than other asset classes such as cash and fixed interest.

  • Credit Suisse strengthen equity team

    30 Apr 2007

    Credit Suisse is continuing to build its equity team with the appointment of Vipin Ahuja, director, as a portfolio manager specialising in the global energy sector.

  • Critical calls flooding in after TV outburst

    26 Apr 2007

    Protection providers have been inundated with calls from concerned customers after Financial Ombudsman Service chief ombudsman Walter Merricks criticised critical-illness insurance policies on TV.

  • CSC changes date for meeting

    26 Apr 2007

    The Claims Standards Council has rescheduled its extraordinary general meeting to May 17.

  • Date with destiny

    26 Apr 2007

    A-Day introduced the concept of pension input periods and it is vital that advisers are aware of the opportunities and pitfalls they present.

  • Dear Gordon...

    26 Apr 2007

    Guy Anker reports on the effects of rising inflation.

  • Debt mounts up for young borrowers

    26 Apr 2007

    A third of 18 to 25-year-olds have a mortgage worth five times their salary, says research from Equifax.

  • Default lines

    26 Apr 2007

    It has been a testing first quarter, which has been an opportunity to increase equity weightings and reassess our cautious bond view. We have increased weightings in Asia and Europe and believe in the longer-term prospects for yen appreciation.

  • Deferred group Sipp from L&G

    26 Apr 2007

    Legal & General is offering a deferred group Sipp and has introduced lifestyle profiling in its group and individual ranges.

  • Demand for Isa advice hits high

    26 Apr 2007

    Demand for independent financial advice on Isas through IFA Promotion's unbiased.co.uk website has reached record levels.

  • Don't rue the day

    26 Apr 2007

    It is a rare professional who has never advised a client to commit to an investment that has not subsequently gone down in value. It is equally improbable that you will find one who has never missed out on a rising star.

  • Duffy will lead Robert Sterling expansion plans

    27 Apr 2007

    Kevin Duffy is to lead ambitious expansion plans at Robert Sterling in his new role as managing director of the firm.

  • Eccles joins Pearl in acquisition role

    26 Apr 2007

    Former JP Morgan Cazenove vice-chairman Terry Eccles has joined Pearl as director of merger & acquisitions.

  • Edeus in onslaught at adverse lenders

    26 Apr 2007

    Edeus has attacked high-street lenders moving into the adverse markets in its latest ads.

  • Employers in danger of contributing too much into pension schemes

    26 Apr 2007

    Employers are in danger of contributing too much into pension schemes and creating future disputes with scheme members over the application of surpluses, says Aon Consulting.Aon says the latest combined FRS17 deficit across the 200 largest pension schemes in the UK was £26bn at the end of March, while the figure for the FTSE 100 was £19bn.It says projecting this forward shows there is a 61 per cent chance UK pension schemes will have a combined surplus within only three years, ...

  • European eye will monitor PI

    26 Apr 2007

    The European Commission has confirmed it will keep existing professional indemnity insurance requirements for advisers but will monitor the situation to see if changes are needed in the future.

  • Fee-free loans get a mixed reception

    26 Apr 2007

    Abbey criticised for extended tie-ins.

  • Fidelity has eyes for opthalmic market

    26 Apr 2007

    Fidelity is branching out into eyecare with the launch of an opthalmic arm, codenamed Project Blink.

  • Fidelity to announce Bolton replacement in two weeks

    30 Apr 2007

    Fidelity is expected to announce the long-term replacement for Anthony Bolton on its flagship £3.1bn UK special situations fund in two weeks.

  • Fidelity to launch retirement vehicles

    27 Apr 2007

    Fidelity is to step up its plans in the retirement market with the launch of seven fund of funds vehicles managed by Richard Skelt.

  • Fortune foresees increasing move towards transparency

    26 Apr 2007

    Fortune Asset Management expects funds of hedge funds to move increasingly towards listed status and the transparency of managed accounts.

  • Friends Prov posts 12 per cent increase in 'new' life and pensions business

    27 Apr 2007

    Friends Provident announced a 12 per cent increase on a Present Value of New Business Premiums basis in new life and pensions business in its first quarter results.

  • FSA bans IFA for pension transfer failings

    1 May 2007

    The FSA has banned a Swindon-based IFA from performing certain controlled functions related to regulated activities after breaching its rule on a pensions transfer.

  • FSA sends out GI warning

    25 Apr 2007

    The FSA has warned general insurance firms they must improve their standards of cold calling when selling general insurance over the telephone.

  • FSA votes to scrap Age 70 rule

    27 Apr 2007

    The FSA Board has voted to scrap the Age 70 rule which means Icob advisers will be allowed to sell life policies maturing beyond age 70.

  • FundZone to widen access

    26 Apr 2007

    Standard Life fund platform FundZone is to enable family and certain pension trustee business to access its range of 750 mutual funds.

  • German cities see strong growth

    26 Apr 2007

    Strong economic growth has led to an upturn in the German property market, says Scottish Widows Investment Partnership.

  • Getting shirty

    26 Apr 2007

    Well done to AIG for sending out Manchester United shirts to journalists to accompany a recent press release.

  • Half of DB schemes closed to future accruals by 2011, says Aon

    1 May 2007

    Half of employers with defined benefit schemes could be closed to future accruals by 2011, trebling the number of sponsors that have already done so.

  • Hallelujah trail

    26 Apr 2007

    Trail commission on Oeics and unit trusts has been paid for a number of years. IFAs typically receive 0.5 per cent of invested funds, with no requirement to do anything to receive this payment.

  • Hargreaves Lansdown announces IPO price range valuing firm at £711m

    1 May 2007

    Hargreaves Lansdown has announced an indicative offer price of 140p to 160p for each of its 118.6m ordinary shares.

  • Hargreaves Lansdown rocket up rich list

    30 Apr 2007

    Hargreaves Lansdown's co-founders have rocketed up the rich list but their fortunes are dwarfed by that of Towergate chairman Peter Cullum, who has£700m to his name.

  • Henderson appoints new UK Wholesale Sales Director

    27 Apr 2007

    Henderson Global Investors has appointed Laurie Jaques to the position of sales director.

  • High-net-worth customers key to protection sector

    26 Apr 2007

    The high-net-worth sector will become a key area of the protection market, according to Legal & General.

  • Hip trade body boss brands Tory attack "desperate"

    27 Apr 2007

    Association of Home Information Pack Providers director general Mike Ockenden has blasted the latest Tory opposition to Hips as feeble and desperate.

  • Hips to bring consumer confusion, says new survey

    1 May 2007

    Thirty six per cent of the general public think Hips stands for Homeland Immigration Policy, while only 27 per cent correctly identified it as a Home Information Pack. 

  • HL extends telephone services

    26 Apr 2007

    Hargreaves Lansdown is extending the range of advice it offers over the phone.

  • HL pulls in 420m Isas, 750m Sipps

    26 Apr 2007

    Hargreaves Lansdown sold 420m of Isas in the last tax year - an increase of 30 per cent on the previous year.

  • How Selestia helped us return control to clients

    26 Apr 2007

    Six years ago, following the stockmarket's peak and subsequent fall, we were looking for a solution that would increase value for our clients, improve access to clients' investment information, simplify the administration process and provide accurate information at all times.

  • Huge inflows raise fears over Woodford's funds

    26 Apr 2007

    Invesco Perpetual has allayed adviser concerns about the ever increasing size of Neil Woodford's income and high-income funds.

  • IFA gets data on 25,000 investors after Cofunds' glitch

    26 Apr 2007

    Cofunds has sent the confidential details of 25,000 clients to an IFA following a technical malfunction.

  • Industry up to Sipp mischief?

    26 Apr 2007

    Some insurance companies are paying up to twice the level of commission for new Sipp business than for their personal pension or stakeholder products, despite the majority of Sipp money sitting in insured funds.

  • Inflation rise sparks rate speculation

    26 Apr 2007

    Inflation hit 3.1 per cent in March, prompting speculation that the Bank of England will raise interest rates by a quarter point next month.

  • Insight taps into water stocks

    26 Apr 2007

    Insight's multi-manager team have invested in iShares S&P global water, the first exchange-traded fund in Europe that tracks the performance of water stocks.

  • International equity head quits Invesco

    26 Apr 2007

    Kathryn Langridge is leaving Invesco Perpetual after 17 years.

  • Is it in the stars?

    26 Apr 2007

    Helen Pow surveys the fund firmament where a handful of glittering star managers see the marketing machine go into overdrive and investors flocking to pile cash into the stellar portfolios but are there other unheralded managers who deserve more widespread recognition?

  • Issues set out for probe into PPI

    26 Apr 2007

    The Competition Commission has published an issues statement as part of its investigation into the market for the supply of payment protection insurance.

  • Jupiter is out of this world

    26 Apr 2007

    It is a shame that the Jupiter campaign by Masius was overlooked in the recent review of Isa advertising by Lucian Camp, especially where he has previously been kind enough to tell us how much he admires the work.

  • L&G executive director retires

    26 Apr 2007

    Legal & General UK Business Operations executive director Robin Phipps is to retire from the firm and will stand down from the Board on July 13.

  • Lazards sees less volatility in emerging markets

    26 Apr 2007

    Lazards emerging markets fund manager James Donald believes the sector has become less volatile.

  • Le Beau joins Pioneer board

    26 Apr 2007

    Income protection provider Pioneer Friendly Society has appointed Le Beau Visage protection consultant Peter Le Beau as a non-executive director.

  • Lehman plans direct-to-broker specialist lender

    26 Apr 2007

    Lehman Brothers is set to launch a fourth lending brand in early 2008.

  • Lenders cut exit fees on Lehman-funded loans

    25 Apr 2007

    Lehman Brothers is helping drive down mortgage exit fees, with two of its high-street lending partners cutting charges.

  • Lenders pull fixed deals as swap rates increase

    26 Apr 2007

    Lenders have been withdrawing fixed-rate mortgage deals amid speculation of a bank base rate rise in May.

  • Lighthouse chief questions commission obsession

    1 May 2007

    The ABI needs to stop stressing about industry issues from 10 years ago and move on, says Lighthouse Group’s chief executive.

  • Likely SNP victory raises adviser concerns

    1 May 2007

    With the Scottish National Party likely to win in the Scottish elections this Thursday advisers are concerned about the tax impact on their well-off clients.

  • Long road to freedom

    26 Apr 2007

    I refer you to the following debate - on Tuesday, April 17, in debate on occupational pensions, MPs referred to the two-year campaign by The Times to obtain documents under the Freedom of Information Act.

  • Lords consider Hip hop

    27 Apr 2007

    Opposition parties are lining up for one last attack on Home Information Packs hoping the House of Lords will provide the perfect setting to ambush the policy to force a delay on implementation.

  • Merricks under attack after he blasts CI on TV

    26 Apr 2007

    Protection providers have warned Financial Ombudsman Service chief ombudsman Walter Merricks that his outspoken public criticism of critical-illness policies could lead to an increase in lapse rates and leave people without cover.

  • Metcalfe to take on Newton income fund

    25 Apr 2007

    Newton has appointed a new lead manager on the £1.1bn income fund with Christopher Metcalfe replacing Rob Marshall-Lee and Nick Clay.

  • Mortgage Brain launches Secured Loan Trading Exchange

    30 Apr 2007

    Mortgage Brain has launched a new online secured loan sourcing and application system, through a strategic partnership with insurance and secured loan sourcing system specialists, Source Software.

  • Mortgage demand weakens amid rising interest rates, says BBA

    1 May 2007

    Mortgage demand looks to be weakening amid rising interest rates, according to statistics from the British Bankers' Association.

  • Mortgage Express - Self-Cert Two Year Fixed Rate

    27 Apr 2007

    Mortgage ExpressSelf-Cert Two Year Fixed Rate

  • New kids on the platform block

    27 Apr 2007

    There was supposed to be a huge announcement this week from Skandia and Selestia detailing their plans for the merged platform, which is due to launch this year following the acquisition of Skandia by Old Mutual.

  • Newcob on the block

    26 Apr 2007

    John Wright, a compliance consultant for Bond Pearce Solicitors, explains some of the implications arising for advisers from the FSA's view principles-based regulatory regime.

  • Niznik quits Standard Life

    26 Apr 2007

    Standard Life Investments' star fund manager Mark Niznik has resigned amid rumours that he is set to join Artemis.

  • Offshore tax amnesty could herald crackdown

    26 Apr 2007

    The offshore tax amnesty could signal the start of a major crackdown on offshore investments, as experts warn that HM Revenue & Customs will not limit its investigations to bank accounts.

  • Oliver's twist

    26 Apr 2007

    Oliver Russ, manager of the Resolution Argonaut European income fund, was the first fund manager to recognise the huge opportunities in this sector.

  • Ombudsman says investment expectations must be realistic

    26 Apr 2007

    The Financial Ombudsman Service says advisers must ensure customers are realistic about investment returns to protect themselves against income-drawdown complaints.

  • Out of Context

    26 Apr 2007

    "A PR without a credit card. I feel like a character out of Wizard of Oz."

  • Painless extraction

    26 Apr 2007

    There is much activity ahead of a company's year-end to ensure that remuneration strategies and plans for extracting funds from the company are fully discussed.

  • Paternoster doubles assets in Q1

    26 Apr 2007

    Paternoster doubled its pension scheme assets under management in the first quarter and now has liabilities totalling £411.7m.

  • Pension hopes rest with Lords

    26 Apr 2007

    Opposition parties are to take their fight for compensation for occupational pension scheme victims to the House of Lords after their lifeboat amendments to the Pensions Bill were narrowly defeated.

  • PosSol denies CEO Johnson set to quit

    26 Apr 2007

    Positive Solutions has confirmed that chief executive Neil Johnson will remain at the firm until at least the end of the year.

  • PR guru John...

    26 Apr 2007

    PR guru John Wriglesworth has a fan club dedicated to him, set up by his current and former employees.

  • Product matters

    26 Apr 2007

    Funds of hedge funds will start to creep on to the retail investment radar, following the FSA's decision to relax its ruling on the maximum amount a fund can invest in unregulated collective schemes, but I am sure most investors will be reaching for the Valium at the thought of putting their money into hedge funds.

  • Product matters

    26 Apr 2007

    Alliance & Leicester has followed the rush to mimic Northern Rock's Together mortgage, joining recent entrant Birmingham Midshires. Like existing schemes, it operates by offering a 95 per cent mortgage advance with up to an additional 30 per cent on an unsecured loan basis at the same rate and over the same repayment period.

  • Protection priorities

    26 Apr 2007

    The insurance industry has been accused of scaring people into buying protection.

  • Providers' cash backing helps advisers to chartered status

    26 Apr 2007

    Pi Financial Dixon Sutcliffe has secured financial support from four product providers to help more of its advisers achieve chartered financial planning status.

  • Providers unite to promote e-services

    26 Apr 2007

    A collaborative industry website and information hub has been set up to encourage the take-up of e-services across financial services.

  • Prudential sees sales fall for Q1

    26 Apr 2007

    Prudential's UK life business fell by 23 per cent to £183m in the first quarter.

  • Pru's Egg sale complete

    1 May 2007

    Prudential has announced today that it has completed the sale of banking arm Egg to Citigroup for £546m in cash.

  • PSigma fund as good as it gets

    27 Apr 2007

    PSigma Asset ManagementPSigma Income Fund

  • Quality control

    26 Apr 2007

    Weekly, the FSA bangs on about principle-based regulation. It did the same with risk-based monitoring five years ago.

  • Regional differences

    26 Apr 2007

    Neal Underwood says many IFAs are sceptical over the value of regional and sector-specific Fofs.

  • Reshuffle at Schroders

    26 Apr 2007

    Schroders has appointed Jonathan Asquith and Massimo Tosato as vicechairmen. Alan Brown takes over as chief investment officer, with head of group finance Stephen Brooks taking over from Asquith as chief financial officer.

  • Resolution appoints McKee as head of UK new business

    27 Apr 2007

    Resolution has appointed Hugh McKee as head of UK new business responsible for leading the development of the Scottish Provident and Phoenix business lines.

  • Resolution Foundation sets out priorities for generic advice

    26 Apr 2007

    The Resolution Foundation has identified five key priorities for the Thoresen Review, as consultation closes on its call for evidence in developing a national approach to generic financial advice.

  • Retrospection is what you need

    1 May 2007

    Retrospective changes to critical illness policies have always been a bone of contention in the protection industry.

  • Reversing the risk for fixed interest

    26 Apr 2007

    Private equity activity is causing havoc among fixed-interest investors, creating an inverted risk profile in corporate bonds.

  • Review body to consider more FOS transparency

    26 Apr 2007

    The Financial Ombudsman Service is to commission an independent review to see if it should release more information on its rulings to complement the FSA's move to principles.

  • Royal London in merger talks with Royal Liver

    30 Apr 2007

    Royal London has released a statement today saying it is in talks with Royal Liver over a possible merger of the two companies.

  • Sacrificial rights

    26 Apr 2007

    I am the managing director of a limited company. I would like it to make a pension contribution on my behalf but I understand there is now uncertainty as to whether the company will get corporation tax relief.

  • ScotProv unveils its new image

    26 Apr 2007

    Scottish Provident has revamped its logo and literature but is keeping its brand name.

  • Sesame fined £330k over Scarps failures

    26 Apr 2007

    Sesame has been fined £330,000 for failing to treat its customers fairly when handling complaints concerning sales of precipice bonds.

  • Ship hails record first quarter

    30 Apr 2007

    Safe Home Income Plans has reported record first quarter figures which show business written reached £293.9m, the highest quarter one figure to date.

  • Signature tune

    26 Apr 2007

    I believe that Royal Liver IFA market manager Andy Milburn has done the Association of British Insurers a favour by pointing out that its forthcoming guidelines on improved clarity for telephone and online applications for protection business need to identify a consistent approach to the issue of signatures.

  • SimplyBiz in deal for Buckles funds

    26 Apr 2007

    SimplyBiz has linked up with Buckles in a deal that will see it distribute Buckles' Snowdonia fund range through its 4,000 IFAs. The Snowdonia suite was launched in October 2004 and has 150m under management across four funds.

  • Sipps - suit you, sir??

    26 Apr 2007

    It seems that you can pick up any trade paper just at the moment and self-invested personal pensions will be on or near the front page.

  • Sirius profits up 22 per cent

    30 Apr 2007

    Industry software supplier Sirius Financial Solutions has reported an annual group profit increase of 22 per cent to £2.5m, ahead of the board's expectations.

  • Sites for sore IFAs

    26 Apr 2007

    A few months ago, I had a moment of revelation. I had just been researching whether to move broadband providers, having read that contracts were becoming cheaper. To stay with my existing supplier might now be unnecessarily expensive.

  • Skandia/Selestia platform to launch in summer as Vasilieff quits

    25 Apr 2007

    Skandia Life, Skandia MultiFunds and Selestia are set to merge into one combined business platform to be led by Brett Williams.

  • Smith & Pinching rebrands as OPM

    26 Apr 2007

    Smith & Pinching Portfolio Management has branded its multi-manager operations as OPM (Only Performance Matters) Fund Management.

  • Snowball quitting Aviva for Towergate

    26 Apr 2007

    Aviva UK group executive director Patrick Snowball is leaving at the end of June to become deputy chairman at Towergate Partnership. Aviva group finance director Andrew Moss has been appointed group chief executive from July 12.

  • Spending watchdog tells FSA to count cost of regulating risky firms

    30 Apr 2007

    The FSA has been told to get a better grip on just how much time and money it takes to regulate individual firms by the National Audit Office. In a wide ranging report, the first of its kind into the FSA by the Government’s spending watchdog, the NAO praises many of the regulator’s systems. The NAO praises the FSA’s strategy for civil fines and criminal prosecutions when compared with the punitive system employed by US regulators and itswork on financial capability. ...

  • Standard Life Bank - Freestyle Professional Mortgage Two Year Fixed Rate

    27 Apr 2007

    Standard Life BankFreestyle Professional Mortgage Two Year Fixed Rate

  • Standard Life shareholders still haven't claimed 261m

    26 Apr 2007

    Standard Life has revealed that 220,000 former members have yet to claim around 83 million shares worth 261m.

  • Standard Life updates CI cover

    26 Apr 2007

    Standard Life has updated its critical illness definitions in line with the Association of British Insurers' regulatory changes with effect from April 23.

  • Standard Life's declined claims plummet

    1 May 2007

    Standard Life has released its claims statistics for 2006 which show that the number of claims the life office declined fell by 10.5 per cent compared with 2005.

  • Standard scales the twin peaks

    26 Apr 2007

    Once again, The Diary breaks new ground by finding iron-clad proof that the Scots have more imagination than the English.

  • Standard's adviserzone allows pipeline tracking

    26 Apr 2007

    Standard Life has introduced pipeline tracking on its adviserzone extranet service.

  • Start-up firm moves into wrap market

    26 Apr 2007

    Parmenion, a new discretionary management wrap, is being launched into the IFA market next week.

  • Stay cool if stars depart, says Defaqto

    26 Apr 2007

    'IFAs under less pressure than in conventional funds'

  • Submission implausible

    26 Apr 2007

    Some would say the recent leak of the alleged Association of British Insurers submission to the retail regulatory review revealing that it wants to strip down contracts down to remove product advice does not go far enough.

  • SWIP appoints James Clunie to its UK equity team

    26 Apr 2007

    Scottish Widows Investment Partnership (SWIP) has added to its UK equities team with the appointment of James Clunie as investment director.

  • TD Waterhouse claims first with multi-currency Sipp

    26 Apr 2007

    TD Waterhouse has unveiled what it claims to be the first multi-currency option on its self-invested personal pension.

  • Team of 11 aim to tackle claim issues

    26 Apr 2007

    Aegon Scottish Equitable and Norwich Union are among the providers which will be represented on the Association of British Insurers' TCF protection claims group.

  • Tenet and OBSR aim to give advisers a Clear Advantage

    1 May 2007

    Tenet has launched a series of business development tools for investment advisers in conjunction with Old Broad Street Research, to be known as Clear Advantage. Following the launch of Clear, its technology and wrap proposition in 2005, Tenet will offer publications, investment forums, a dedicated investment centre and marketing support.

  • The ABI's commission conundrum

    30 Apr 2007

    They say it is best to get things out into the open and so it is with the ABI's draft retail distribution review response which will leave advisers in no doubt where certain sections of the industry are coming from.

  • The asset set

    26 Apr 2007

    Jason Whitcombe, director, Evolve Financial PlanningJonathan Fry, director, Jonathan Fry & CoDerrick Winspear, IFA, Pi Financial Dixon SutcliffeLife expectancy is increasing but levels of pension saving are falling, so how big do you think the market for equity release will be?

  • The effects of Equitable

    26 Apr 2007

    Ten years ago, in an article that I wrote for The Scotsman newspaper, I warned readers of the pension selling practices of Equitable Life.

  • Thinc again on women

    26 Apr 2007

    In response to Simon Chamberlain's comments in the article, Thinc targets women in recruitment drive, I find it ironic to hear him saying he is starting a campaign to get women advisers to join Thinc and that "they tend to have the sensitivity and approachability needed for a career in financial planning".

  • Threadneedle expands emerging markets debt team

    25 Apr 2007

    Threadneedle Investments has appointed Richard House as a fund manager to join its emerging markets fixed income team.

  • Tiner call for tribunal to back up principles

    26 Apr 2007

    The FSA is warning that work will need to be done to ensure the rulings of the financial services and markets tribunal do not undermine the move to principle-based regime.

  • Tiner revives caveat emptor

    26 Apr 2007

    The FSA is to reopen the controversial debate surrounding caveat emptor and the legal responsibilities consumers should carry in a principle-based regime.

  • To Sipp or not to Sipp?

    26 Apr 2007

    It was never going to be long before the battle lines were drawn in the Sipp playing field and Scottish Life has made the opening salvo.

  • True sets up share deal for advisers

    26 Apr 2007

    The scheme is similar to the deal which was established by Positive Solutions last year.

  • Trustee nails

    26 Apr 2007

    Things are never dull in the world of Sipps. The challenges continue to be interesting and stimulating, particularly the conflicts between HM Revenue & Customs and the new FSA requirements concerning trustee duties.

  • Vaquier appointed as Axa REIM chief exec

    26 Apr 2007

    Axa Investment Managers has appointed Pierre Vaquier as chief executive of Axa Real Estate Investment Managers.Vaquier was previously deputy managing director of Axa REIM and chief executive of AXA REIM France.He will remain as chief executive of AXA REIM France in addition to the new role.Previous chairman and chief executive of Axa REIM Dominique Carrel-Billiard will remain as chairman of the Axa REIM board of directors and continue as chief executive of Axa IM, the parent ...

  • Venture firm takes 22.5% stake in LEBC

    26 Apr 2007

    Venture capital firm BP Marsh & Partners is set to pay almost 2m for the 22.5 per cent equity stake it has acquired in national IFA firm LEBC.

  • Vertex to facilitate HSBC Life product range

    30 Apr 2007

    Vertex Financial Services has signed a new services contract with HSCB Life for several new protection and life investment products.

  • Vertex wins HSBC contract

    26 Apr 2007

    Vertex Financial Services has won a contract with HSBC for several new protection and life investment products.

  • Virgin Money top for growing profits

    26 Apr 2007

    Virgin Money has been named the company with the fastest-growing profits in Britain in The Sunday Times' profit track 100 list. The firm has annual growth of 147 per cent.

  • Wales is hot spot for BTL, says Paragon

    30 Apr 2007

    Wales is the latest hot spot for residential property investors, according to Paragon Mortgages' latest buy to let index.

  • Way Group adapts IHT plans for Scots law

    26 Apr 2007

    Inheritance tax planning specialist Way Group has introduced specialist versions of its nine investment schemes that comply with Scottish law.

  • Weighty effort from UBS

    27 Apr 2007

    UBS Global Asset ManagementUBS UK Equity Income Fund

  • Withers joins Credit Suisse

    27 Apr 2007

    Credit Suisse has appointed former chief executive of Norwich Union LifeGary Withers as vice chairman and head of asset management for the EMEAregion.

  • WP stalwarts finally reap their rewards

    26 Apr 2007

    Rising returns on with-profits bonds are finally rewarding investors who stuck with them through recent lean years, says Moneyfacts.

  • Wrap migration

    26 Apr 2007

    Enterprise Learning's chief executive Gary Storer and principal consultant Andy Thompsett set out a five-step guide to making the move to wrap.

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