Money Marketing
25 July 2007

  • ABI says recent floods bring cost to insurers to £2bn

    25 Jul 2007

    The Association of British Insurers has recieved some 8,000 claims from the flooding over the past 72 hours, which it estimates will cost insurers £500m, bringing the total expense of the summer floodings to £2bn.

  • Kane becomes ABI chairman

    26 Jul 2007

    Scottish Widows chief executive Archie Kane is the new chairman of the Association of British Insurers, succeeding Keith Satchell who ends his two-year term.

  • 2Plan recruits PosSol directors

    26 Jul 2007

    National IFA 2Plan has appointed two former recruitment directors from Positive Solutions.

  • 5D Finance chief executive steps down

    25 Jul 2007

    5D Finance has confirmed that Keith Howard has stepped down as chief executive officer to pursue other activities.

  • A new dawn

    27 Jul 2007

    With debate raging around the Retail Distribution Review and its related papers and continued talk of further market consolidation the traditional summer news lull does not look like appearing anytime soon.

  • A platform for success

    26 Jul 2007

    Despite many years as a tied adviser, it was only on becoming an IFA that I began to understand concepts such as risk profiling, diversification and portfolio modelling. It was Skandia that showed the way.

  • A professional footing

    26 Jul 2007

    Many advisers are on the way to achieving professional financial planner status while those who have already made the move point out the benefits it has brought them. By Kate Baier

  • A road less travelled

    26 Jul 2007

    Until recently, I had never really thought of infrastructure as a separate asset class. It encompasses everything from hospitals and schools to water, waste, transport and power.

  • A shaw thing

    26 Jul 2007

    Sam Shaw is a reporter on Money MarketingHad a very pleasant lunch at Soho fave restaurant Alastair Little with the effervescent Bill Moncrieff and Ron Pritchard of the Clarkson Hill GroupI then had my arm forced up my back to go for a post-lunch beer with Mr Moncrieff and my esteemed publisher David Cowan.

  • A tonic for protection

    26 Jul 2007

    Protection must keep pace with medical advances and convince the public that they need the product

  • Abbey Life sold to Deutsche Bank for nearly £1bn

    31 Jul 2007

    Lloyds TSB has sold its closed book business Abbey Life to Deutsche Bank for almost £1bn.

  • ABI grab fails consumers' interests

    26 Jul 2007

    Aifa is accusing the ABI of having lost sight of the consumer interest. Director general Chris Cummings says the ABI has failed to put consumers' interests first and its agenda is also anti-IFA.

  • 'ABI pursuing anti-advice agenda'

    26 Jul 2007

    Aifa has attacked the ABI's proposals for the retail distribution review, accusing it of being against advisers and losing sight of consumers.

  • Aifa triggers RDR fightback

    26 Jul 2007

    Aifa has launched the first stage of its battle plan against many of the Retail Distribution Review proposals it warns could endanger the future of professional advice and lead to severe consumer detriment.

  • APS is first casualty in Witan review

    26 Jul 2007

    Witan has offloaded APS Asset Management, which ran its Asia Pacific holdings, after a prolonged period of underperformance.

  • Assets Under Renovation

    25 Jul 2007

    With Thames River lurking in the shadows, Credit Suisse has finally made the decision to do away with the regional strategy funds on its multi-manager range.

  • Away games are yielding results for UK managers

    26 Jul 2007

    UK equity funds are increasingly investing outside the domestic market with exposure to China, the US, Canada, Asia and Europe. The trend is particularly noticeable in the UK equity income sector where the Investment Management Association requires 80 per cent to be invested in domestic stocks, leaving the remaining 20 per cent for managers to use as they see opportunity.

  • Axa and CBK clash over online application

    26 Jul 2007

    Axa has come under fire over an online application form for life and critical-illness cover.

  • Axa Framlington reopens gates to Luckraft fund

    26 Jul 2007

    Axa Framlington has reopened George Luckraft’s equity income fund to new business for the first time since it was soft closed in 2005.

  • Barclays - Global Property Plan - Issue 51

    26 Jul 2007

    BarclaysGlobal Property Plan - Issue 51

  • Barclays Global Investors - iShares S&P/MIB

    26 Jul 2007

    Barclays Global InvestorsiShares S&P/MIB

  • Barclays Global Investors -iShares MSCI Europe

    27 Jul 2007

    Barclays Global InvestorsiShares MSCI Europe

  • Barclays Global Investors -iShares S&P Global Clean Energy

    26 Jul 2007

    Barclays Global InvestorsiShares S&P Global Clean Energy

  • Barclays/Woolwich to keep £275 exit fee

    31 Jul 2007

    Barclays and Woolwich will be keeping its existing £275 exit fee charge.

  • Bespoke buy for SimplyBiz

    26 Jul 2007

    SimplyBiz has acquired its second compliance support provider this year.

  • BoE stats show increase in total net lending in June

    30 Jul 2007

    Bank of England statistics show that the increase in total net lending to individuals in June - £10.4bn - was higher than the increase in May and the previous six-month average.

  • Branding iron in the fire

    26 Jul 2007

    Nicole Blackmore reports on reaction to the possibility that the historic Norwich Union brand could be scrapped in favour of Aviva

  • Broker banned over false application

    26 Jul 2007

    The FSA has banned John Adebayo Adepoju, a mortgage broker trading as Landmark Finance, from working in the financial services industry after he submitted a false mortgage application to a lender.

  • Broker talkback

    26 Jul 2007

    Do you offer your clients a commission offset payment option?

  • Brokers call for exit talks as just two lenders rethink fees

    26 Jul 2007

    Mortgage brokers are calling on trade bodies and the FSA to open up a debate on what level of exit fee is reasonable.

  • Cabral quits NU days after taking on corporate bond fund

    25 Jul 2007

    Norwich Union fund manager Donna Cabral has resigned from the firm less than a month after taking over as lead manager of the £921m corporate bond fund.

  • Capita claims its independence will boost wrap deal

    26 Jul 2007

    Software solutions provider Capita believes its independence means it is well positioned to grab a big slice of the intermediary wrap market.

  • Capita picks up PwC trust admin business for £12.75m

    31 Jul 2007

    Capita Group is set to acquire the trust administration business of PricewaterhouseCoopers CI LLP in the Channel Islands for a cash consideration of £12.75m.

  • China seeds $200bn global investment fund

    26 Jul 2007

    A wall of cash is set to hit world markets as China is to start managing its foreign exchange reserves more aggressively in a move that will see around $200bn invested globally.

  • Clarkson Hill considers wrap and links with Enterprise for sub-prime

    25 Jul 2007

    The Clarkson Hill Group has completed its risk assessment strategy for the business, moving the status from funds under influence to funds under management.

  • Clear sighted

    26 Jul 2007

    There is a fad to describe something that is clear as being transparent or, more usually, something that is unclear as not transparent, as in "the charging structure is not transparent" rather than "the charging structure is not clear".

  • Cofunds to offer payment choice

    26 Jul 2007

    Cofunds will offer advisers the choice of being paid by fees, commission or a combination of both from the new year in the next stage of its drive towards offering a full wrap.

  • Community spirit

    26 Jul 2007

    Having just set up a lunch at my house, I used Facebook to invite my friends. Online communities are becoming very popular and cannot be ignored.

  • Corn on the Icob

    26 Jul 2007

    Protection advice makes money while non-advice barely breaks even

  • Cost of flooding rises to £2.5bn says ABI

    27 Jul 2007

    The Association of British Insurers has upped the estimated cost of the recent floods to £1bn which brings the total cost of the summer flooding to £2.5bn.

  • Critical concern at scoring system

    26 Jul 2007

    Defaqto has been accused of sparking an "illness race" by encouraging insurers to add conditions to critical-illness policies just to boost their scores.

  • Crown Equity Release warns pensioners over sale-and-rent schemes

    31 Jul 2007

    Crown Equity Release has urged pensioners and the industry to be cautious when considering sale-and-rent alternatives to equity release for the elderly.

  • Cummings' rallying call to join fight against RDR

    26 Jul 2007

    Aifa has called for the advice community to come together to fight retail distribution review proposals which it believes are a grave danger to the future of professional advice and hugely damaging to consumers.

  • Direct debit could save £200 a year

    26 Jul 2007

    The average household can save £208 a year by paying all their household bills by direct debit, claims Bacs.

  • Do you bet your bottom dollar?

    26 Jul 2007

    Even the experts are undecided on future movements of the weakened dollar, meaning investors must carefully weigh up the risks of investing in the US, says Will Henley

  • Edeus - Two-Year Self-Cert Tracker

    26 Jul 2007

    EdeusTwo-Year Self-Cert Tracker

  • Edeus launches buy-to-let deals with 10 partners

    26 Jul 2007

    Edeus has launched two semi-exclusive buy-to-let deals with 10 intermediary partners.

  • Edeus research reveals average adverse LTV often lower than prime

    25 Jul 2007

    Edeus has found that average loan to value ratios in the adverse mortgage sector is lower than the general UK average, contradicting speculation that the UK is set to experience similar problems to the US sub-prime market where LTV levels are often close to 100 per cent.

  • EuroCape fills gap

    26 Jul 2007

    Acorn Capital PartnersEurocape II Property Finance

  • Exit wounds

    26 Jul 2007

    It may be worth suffering penalties to transfer from existing pension plans to the more flexible environment of a Sipp

  • Experian buy N4 Solutions

    25 Jul 2007

    Experian has acquired financial services software provider N4 Solutions. 

  • F&C placed on S&P CreditWatch after RAM deal

    26 Jul 2007

    Standard & Poor's Ratings Services has placed F&C Asset Management on CreditWatch with negative implications after the announcement that it is to combine with Resolution Asset Management.

  • F&C stresses it is in charge

    25 Jul 2007

    F&C Asset Management has been contacting clients to stress that it is leading the integration of Resolution Asset Management.

  • Fight dangerous RDR

    26 Jul 2007

    Can any sane individual suggest the consumer will be less confused?

  • FSA confirms Nationwide and Portman merger

    26 Jul 2007

    The Financial Services Authority has confirmed the proposed merger of the Portman Building Society to the Nationwide Building Society. The regulator received 22 written representations and three people made oral representations at the hearing held in Bournemouth on June 7.

  • FSA confirms new suitability requirements

    30 Jul 2007

    The FSA has published its guidelines for a simplified, less prescriptive version of the suitability letter as part of its final disclosure measures for the new conduct of business sourcebook.

  • FSA continues its focus on adviser clawback debts

    26 Jul 2007

    The FSA has warned it will continue to monitor firms with provider clawback debts after finishing its thematic work which resulted in 11 firms being asked to take remedial action.

  • FSA publishes TCF support and promises dividends if standards improve

    26 Jul 2007

    The FSA has published guides to help adviser firms improve treating customers fairly standards and promised less scrutiny of firms that prove their TCF credentials.

  • FSA to force RMAR disclosure of clawed-back commission

    31 Jul 2007

    The FSA is to force all firms to disclose details of clawed-back commission as a way of clamping down on firms who excessively churn or missell.

  • FSA will look to loan and protection implications

    26 Jul 2007

    Outgoing FSA chief executive John Tiner says the retail distribution review must cons-ider the implications of its conclusions on areas such as mortgages and protection.

  • FSCP calls for EU redress reform

    30 Jul 2007

    The Financial Services Consumer Panel is calling on the EU to develop requirements so firms can only sell financial products cross border if they subscribe to the consumer's home redress scheme.

  • FSSC appoints two new board members

    31 Jul 2007

    The Financial Services Skills Council has appointed two new members to its board.

  • Fund Isa sales fall 43 per cent year on year

    30 Jul 2007

    Sales of UK investment fund Isas plunged 43 per cent year on year in June from £191m to £109 million, according to Investment Management Association statistics.

  • Future is clouded for F&C

    26 Jul 2007

    The merger talks mean the future is uncertain for F&C Asset Management, which is 52 per cent owned by Friends,

  • Get on risk online

    26 Jul 2007

    Rod McKie, head of individual protection marketing at Aegon, outlines the benefits for advisers in using product providers' end-to-end processing systems

  • Go long on experience

    26 Jul 2007

    Chris Salih reports on 130/30 fund strategies

  • Gov makes medical check-ups for employees tax-free

    25 Jul 2007

    Health screenings and medical check-ups for employees will be exempt from taxation as of August 14th.

  • Government admits no new money for 17.5 per cent equity loan product

    27 Jul 2007

    Mortgage brokers have attacked the Government over the revelation it will not be putting any new money into its Open Market HomeBuy scheme despite introducing a new 17.5 per cent equity loan product in a bid to improve affordability.

  • Government confirms Isa changes

    25 Jul 2007

    The Government has set its Isa reforms in stone laying out regulations to ensure greater flexibility and long-term stability for the product.

  • Government in a spin over HomeBuy scheme

    27 Jul 2007

    This week has seen the Government make even more promises over affordable housing with the publication of its green paper on housing. It announced the expansion of its Open Market HomeBuy scheme with the launch of a new 17.5 per cent equity loan product after admitting its existing scheme was not flexible enough for first-time buyers.

  • Green paper proposes new FTB help

    26 Jul 2007

    The Government is pledging to plough an extra £3bn into affordable housing and introduce measures to stop private-sector builders from "land banking" in its housing green paper published this week.

  • Half of advisers say rate rises will boost protection says Pru

    30 Jul 2007

    Nearly 50 per cent of advisers believe income protection and mortgage payment protection insurance sales will increase if there are further Bank of England base rate rises, according to Prudential.

  • Halifax house price forecast rises to 6%

    26 Jul 2007

    Halifax has revised its forecast for house price inflation from 4 per cent to 6 per cent for the year but warns it expects the pace of growth to slow in the second half of the year.

  • Helm Godfrey still on acquisition trail

    26 Jul 2007

    Helm Godfrey is seeking further acquisitions after profits rose by 47 per cent in the first half of this year from £345,000 to £507,000.

  • Henderson takes on Threadneedle CEO role

    26 Jul 2007

    Threadneedle has appointed Crispin Henderson as chief executive officer as part of a senior management reshuffle within the firm.

  • HIPs criticised for not detailing flood risk

    31 Jul 2007

    Home Information Packs have come under fire for failing to require sellers to admit if their home is a flood risk.

  • Hips set to go ahead despite late stand by Lords

    26 Jul 2007

    The House of Lords has made its final stand against the implementation of home information packs on August 1, with members voting to scrap the controversial scheme.

  • HNW advisers get direct access to L&G underwriters

    26 Jul 2007

    Legal & General is giving direct access to its senior underwriters for advisers dealing with high-net-worth clients.

  • Hometrack acquires SIA Limited

    31 Jul 2007

    Hometrack has acquired geographic information systems software provider SIA Limited.

  • IFA Life launches internet help book for advisers

    30 Jul 2007

    IFA Life has released a new e-book dedicated to helping advisers increase their internet search engine presence and improve online business levels.

  • Iimia seeks opportunities in property sector as sentiment takes a dive

    26 Jul 2007

    Iimia is taking advantage of the wide discounts on many property investment trusts as it says the downturn in investor sentiment has created buying opportunities.

  • IMA members manage over £3 trillion

    31 Jul 2007

    Members of the Investment Management Association managed over £3.1 trillion for clients at the end of last year, according to the IMA annual industry survey.

  • Insurer cuts life rates for veggies

    30 Jul 2007

    Animal Friends Insurance has announced it will offer a 6 per cent discount on its life insurance premiums to vegetarians and fish-eaters.

  • Investec builds global extension

    26 Jul 2007

    Investec Asset Management has brought out the Global Extension Fund, its interpretation of 130/30 investment strategies.

  • Jerry Brown

    26 Jul 2007

    Looking back on a 30-year career, the outgoing head of underwriting and claims at Swiss Re reflects that innovation in the protection industry has been stifled by the focus on price and pure protection which has made products more rigid. But he is proud of having helped to drag underwriting into the 21st Century and throws down the gauntlet to his successors to take the process further. Interview by Helen Pow

  • Jon Pain appointed to Openwork board as Non-executive Director

    31 Jul 2007

    Cheltenham & Gloucester managing director Jon Pain has joined Openwork Holdings as a non-executive director.

  • Jupiter Asset Managament (Bermuda) - Asia Pacific Hedge Fund

    27 Jul 2007

    Jupiter Asset Managament (Bermuda)Asia Pacific Hedge Fund

  • Kensington shareholders accept £270m Investec bid

    26 Jul 2007

    Kensington Group shareholders have voted at an extraordinary general meeting to accept the offer made by South African firm Investec.

  • King and Platt quit Torquil Clark

    31 Jul 2007

    Torquil Clark Life Insurance directors Jason King and Simon Platt have resigned from their positions effective today to pursue other business interests.

  • L&G announces it pays out on unrelated non-disclosure claims

    25 Jul 2007

    Legal & General has followed in Friends Provident's footsteps and made an official statement confirming it pays a proportion of unrelated non-disclosure claims.

  • L&G fears cheating over non-contestability move

    26 Jul 2007

    Insurers have criticised the Law Commission's proposals for a five-year non-contestability period for life insurance, claiming it would encourage consumers to cheat on application forms and ultimately drive up prices.

  • L&G launches online underwriting guide for advisers

    26 Jul 2007

    Legal & General is launching an online guide which will provide advisers with information on its underwriting and claims policies and procedures.

  • L&G launches underwriting academy

    31 Jul 2007

    Legal & General has launched an academy to give in-depth medical training to senior underwriters and claims handlers.

  • Leaman to depart at Openwork

    26 Jul 2007

    Stephen Leaman has confirmed he is stepping down as chief executive of Openwork at the end of the year, having been with the network since 2004.

  • Lending giant HBOS scraps exit fees for new customers

    30 Jul 2007

    Halifax Bank of Scotland has become the latest lender to confirm it will be scrapping mortgage exit administration charges for all new customers from July 31.

  • Lifesearch reignites debate on retrospective CI cover

    26 Jul 2007

    Lifesearch head of protection strategy Kevin Carr has reignited the debate around life offices to apply any new critical illness conditions they cover retrospectively.

  • Lincoln introduces menu-style pension plan

    26 Jul 2007

    Lincoln Financial Group has brought out a menu-style retirement plan comprising an individual personal pension, an unsecured pension plan and a unit-linked annuity.

  • Living Time warns FSA that RDR could cut annuity choices and cost consumers dear

    31 Jul 2007

    Retirement income specialist Living Time is warning the FSA that the retail distribution review may lead to people receiving less help with their retirement income choices.

  • Lock and load

    26 Jul 2007

    A few years ago, when I was working for a newspaper, one of its senior executives came to see me about writing a story.

  • Lunch comes to the crunch

    26 Jul 2007

    Facilities at Credit Suisse's new building at Canary Wharf are so advanced that employees no longer have to leave it under any circumstances.

  • LV= cuts income protection rates

    26 Jul 2007

    LV= has cut its income protection rates, with 80 per cent of its level premium rates reduced by an average of 11 per cent and 70 per cent of its index-linked rates cut by an average of 6 per cent.

  • Malone predicts tougher times after record June

    26 Jul 2007

    Premier Mortgage Service managing director John Malone warns that the second half of the year will be difficult for the mortgage industry despite record lending in June.

  • Meteor Asset Management - Gemini

    26 Jul 2007

    Meteor Asset ManagementGemini

  • Meteor Asset Management - Orion

    26 Jul 2007

    Meteor Asset ManagementOrion

  • Mifid could block commission ban

    26 Jul 2007

    Aifa believes the FSA's retail distribution review plans to ban certain types of adviser from receiving commission payments could be scuttled by the European Commission.

  • Minister blasts 'nightmare of regulation'

    26 Jul 2007

    New trade and investment minister Lord Jones has hit out at the "nightmare of regulation" affecting businesses in the UK.

  • Mint to target HNWs with national arm

    26 Jul 2007

    IFA network Mint is setting up a national arm specialising in advising high-net-worth individuals.

  • Moneysupermarket.com flops in LSE debut

    27 Jul 2007

    Moneysupermarket.com flopped yesterday when it debuted on the London Stock Exchange, with its shares losing £70m.

  • Mortgage advisers get on with job

    26 Jul 2007

    It was a shame that the recent ethical survey did not echo facts gleaned from the Financial Ombudsman Service's annual review which analysed complaints received and how they have been dealt with.

  • Motley Fool rushes in with its own Sipp

    26 Jul 2007

    Personal finance website Motley Fool is offering its own direct Sipp administered by AJ Bell.

  • MPC minutes reveal concerns on timing

    26 Jul 2007

    The Bank of England's monetary policy committee's deputy governor and chief economist were among the members who opposed this month's base rate rise to 5.75 per cent.

  • MPs calls for more scrutiny of private equity

    30 Jul 2007

    The Treasury select committee has urged the Treasury, HM Revenue & Customs and the Bank of England to investigate areas of strong concern the MPs have articulated regarding private equity.

  • Murray says Transact advisers can meet tough definition of professional planners

    31 Jul 2007

    Transact’s head of marketing Malcolm Murray says that advisers using his platform will be able to satisfy even a very tight definition of customer agreed remuneration as recently proposed by the ABI.

  • Myners charged with making personal accounts peace

    26 Jul 2007

    Paul Myners has taken up the role of Personal Accounts Delivery Authority chair and with it the task of making many of the difficult decisions the Government has been wrestling with for the past two years.

  • Nationwide bids to boost broker sales after merger

    26 Jul 2007

    Nationwide is to recruit a substantial broker salesforce to increase its share of the intermediary market.

  • Navigant Consulting buys Troika Financial Services

    27 Jul 2007

    Global consultant Navigant Consulting has acquired UK financial services consultancy Troika.

  • New director at Lighthouse

    25 Jul 2007

    IFA group and pension scheme administrator Lighthouse has hired Richard Last as non-executive director with immediate effect.

  • New Star rebrands Tilney fund

    27 Jul 2007

    The Tilney European growth fund has been transferred to New Star and rebranded as the New Star European Value fund.

  • Northern Rock next lender to scrap exit fees

    27 Jul 2007

    Northern Rock has confirmed that with effect from July 30 it will no longer charge exit fees for new customers.NR previously charged £250 for customers to exit their mortgages.It joins Cheltenham and Gloucester and Standard Life Bank which have both recently stated they will scrap the controversial fees.Lenders have a deadline of July 31 by the FSA to review their fees for clients.

  • NU fallout continues as bond chief quits

    26 Jul 2007

    Norwich Union has lost another high-profile fund manager after Donna Cabral quit as manager of its £921m corporate bond fund just three weeks into the role.

  • NU gives premium warning after floods

    26 Jul 2007

    Norwich Union says it will be forced to raise household insurance premiums to offset the cost of flood claims. The average flood claim is £20,000 to £30,000.

  • Octopus Investments - CF Octopus Opportunities Fund

    26 Jul 2007

    Octopus InvestmentsCF Octopus Opportunities Fund

  • OFT warns estate agents to comply with HIPs

    31 Jul 2007

    The Office of Fair Trading has warned estate agents that a failure to comply with the new Home Information Packs regulations could result in a ban from estate agency work.

  • On the level

    26 Jul 2007

    Bottom-up investing comes to the fore as several forces are distorting European valuations

  • On the right tracker

    26 Jul 2007

    Arc Capital & Income plc is offering a new version of its bull & bear tracker plan. This product makes a profit for investors, whether the stockmarket rises or falls, and there is a 100 per cent return of capital when the plan matures at the end of six years.

  • Online mortgage community

    26 Jul 2007

    Online social and business networking forum IFA Life is starting a forum dedicated to mortgage brokers.

  • Opinions tar us all with same brush

    26 Jul 2007

    I write in response to another letter, this time from David Kass in last week's Money Marketing criticising Brocha Simon's commendable desire to complete the IFS's Cefa and Cemap at the age of 16.

  • OPM mines deeper for uranium

    26 Jul 2007

    OPM Fund Management is increasing its exposure to uranium stocks through a holding in a Deutsche Bank structured product.

  • Out of balance

    26 Jul 2007

    Peter French says the country's financial situation has been running out of control with the effects about to hit home hard and advisers should be considering changing their clients' investment strategies

  • Out of context

    26 Jul 2007

    "I've been trying to get it to serve gin and tonics but to no avail."Aifa director general Chris Cummings ponders the deficiencies of the Aifa water cooler

  • Over half of borrowers would not take out 25-year fix

    30 Jul 2007

    Over 54 per cent of borrowers would definitely not take out a 25-year fixed rate mortgage despite the Government’s plans to increase the amount of long-term rates offered.

  • Own goal

    26 Jul 2007

    It is not for the regulator to decide if my client pays commission or fees

  • Panel refutes RDR commission claim

    26 Jul 2007

    The FSA's practitioner panel has attacked the underlying assumption behind the retail distribution review that commission leads to bias, suggesting there is no reliable evidence that this is the case.

  • Paul Myners to chair personal accounts delivery body

    25 Jul 2007

    Paul Myners is to head up the Personal Accounts Delivery Authority charged with getting the Government’s personal accounts scheme up and running.

  • Pearl grabs 11 per cent stake in a bid to scupper formation of Friends Financial

    26 Jul 2007

    Close life consolidator Pearl Group has acquired an 11.28 per cent stake in Resolution via a direct stake and derivatives.

  • Pearl looks for its own Resolution

    30 Jul 2007

    The formation of Friends Financial is still in huge doubt with Pearl Assurance owner Hugh Osmond believed to be calling on Deutsche Bank and Morgan Stanley as potential financiers in a takeover of Resolution Life plc.

  • Pension lifeboat is sunk

    26 Jul 2007

    The Government has come under fire for using the Parliament Act to quell opposition to its treatment of victims of collapsed occupational pension schemes.

  • Pensioners' living costs rising fastest in UK

    25 Jul 2007

    The cost of living for people aged 65 and over is rising faster than the national average, according to research by Prudential.

  • Personal sacrifice

    26 Jul 2007

    Will private pensions be allowed an advantage over personal accounts

  • PI firms taking longer view of policies

    26 Jul 2007

    Professional indemnity insurers are increasingly offering longer-term policies, which brokers say should benefit intermediaries.

  • Pioneer brings back sparkle to IP

    26 Jul 2007

    Pioneer Friendly SocietyProfessional Income Protection

  • Pioneer lifts last exclusions

    26 Jul 2007

    Pioneer Friendly Society is removing the final two exclusions, war and HIV, from its Pure Protection contract.

  • Postcards from the pension edge

    26 Jul 2007

    Move over, the Turner Prize. The results are in from this year's most eagerly anticipated art competition, the Art of Pensions.Now in its fifth year, entries on the back of a postcard came from budding Tracey Emins from across the pension sector. Special commendation goes to Stuart Riley of Towers Perrin, who won the overall prize. A selection of the best and the most barrel-scraping can be viewed at artofpensions.com.

  • Premier going private to fend off bids

    26 Jul 2007

    Premier Asset Management chief executive Mike O'Shea says one of the key reasons for the company to delist is to head off any takeover bids if stockmarkets fall.

  • Prestbury offers Brain franchises

    26 Jul 2007

    Prestbury is setting up a franchised distribution operation called Moneybrain alongside its present appointed representative network.

  • Proceed with caution

    26 Jul 2007

    Here's a game you can play in your office. Take someone else's money and gamble with it. If you lose, then the money was definitely all theirs. If you win, you share the spoils. Sound good?

  • Product matters

    26 Jul 2007

    Pioneer Friendly Society has further flexed its income protection credentials with its latest innovation - professional income protection (Pip).

  • Provident brands may be split for consumers and brokers

    26 Jul 2007

    Brokers have tipped Friends to become the combined group's consumer protection brand and Resolution-owned Scottish Provident its intermediary arm.

  • Put your ex-spouse in order

    26 Jul 2007

    Iconcluded my previous article by discussing how a pension-sharing order is valued and executed as regards the debits against the pension scheme member's rights and the credits awarded to their former spouse.

  • RBSIP launches two-year fixed rate mortgage at 5.85 per cent

    30 Jul 2007

    Royal Bank of Scotland Intermediary Partners has launched a two year fixed rate remortgage product under its First Active brand.

  • RDR arguments rattle on

    30 Jul 2007

    A month into the Retail Distribution Review consultation and the arguments surrounding the controversial issue of remuneration are being developed by the industry ahead of a long hard summer and autumn of lobbying.

  • Realise your potential

    26 Jul 2007

    Continuing to consider the assessment of realised gains under roll-up funds

  • 'Regulator willing to sanction consumer detriment'

    26 Jul 2007

    Aifa believes the FSA's admission that primary advice will lead to "sub-optimal" recommendations means that the regulator is willing to "sanction consumer detriment" in a bid to close the savings gap.

  • Resolution AM and F&C unite under Friends Financial Group

    25 Jul 2007

    Friends Provident and Resolution's merger will create a new life company to be called Friends Financial Group plc.

  • Resolution opens up as it closes in on Friends

    26 Jul 2007

    Resolution is closing in on the acquisition of Friends Provident in a move that would see it shift significantly away from its closed life fund consolidator model.

  • Retail Distribution Review: A logical approach

    26 Jul 2007

    The trade press has been full of coverage about the Retail Distribution Review. Many IFA firms may be wondering whether or not they should take an interest in it. Here we have another huge FSA discussion document which many of you, quite understandably, have neither the time nor the inclination to read.

  • Sants warning to advisers that business models must change

    26 Jul 2007

    New FSA chief executive Hector Sants has warned adviser firms they must be ready and willing to change their business models in response to the retail distribution review to put an end to market failures.

  • Saunders says public needs to find middle ground of advice

    26 Jul 2007

    Investment management Association chief executive Richard Saunders has questioned the ABI's call for the general financial adviser category to be only temporary, saying consumers need a middle ground between primary and fee-based advice.

  • School of thought on lender performances

    26 Jul 2007

    As schools break up for the summer holidays, Robert Sterling managing director Kevin Duffy assesses the lenders which show promise and the others who must do better in his end-of-term school report

  • Schroders - Schroder Japan Alpha Plus

    26 Jul 2007

    SchrodersSchroder Japan Alpha Plus

  • SCIL appoints new MD

    30 Jul 2007

    Tony Burdin has been appointed managing director of Scarborough Channel Islands Limited, effective immediately.

  • Scot Prov launches 'source of funds' concession

    31 Jul 2007

    Scottish Provident has introduced the ‘source of funds' concession for self-assurance term business, in line with anti-money laundering guidance.

  • Selestia believes it is on the right trail

    26 Jul 2007

    Skandia says it does not expect to lose business as a result of the decision to cut trail commission on some funds following its merger with Selestia.

  • Selestia Investment Solutions confirms launch dates

    26 Jul 2007

    Selestia Investment Solutions has confirmed it will be going live to adviser consultants on August 1 and live to advisers on August 15.

  • Sesame is set for third shift in year

    26 Jul 2007

    Sesame members have reacted angrily to the prospect that they could be moved under a third parent group in less a year if the proposed merger of Friends Provident and Resolution goes ahead.

  • Skandia rejects 11% of CI claims

    26 Jul 2007

    Skandia paid out on 89 per cent of critical-illness claims in the last 12 months, up by 1 per cent on the last year. Two per cent were declined for non-disclosure and 9 per cent because the claim did not meet policy definitions.

  • Skipton chief warning of rapid rise to 8% loan rates

    26 Jul 2007

    Mortgage lending rates could top 8 per cent within a year, sending repossessions higher, warns Skipton Building Society chief executive John Goodfellow.

  • Sovereign in discount deal for will referrals from IFAs

    26 Jul 2007

    Sovereign Will and Probate Services is sponsoring National Will Week and offering 50 per cent discounts to any customers referred by IFAs.

  • Spiers selling off Bestinvest stake

    26 Jul 2007

    Bestinvest founder John Spiers has brought an end to months of speculation surrounding the company by selling a large portion of his majority shareholding to global private equity and venture capital firm 3i.

  • Spins of omission

    26 Jul 2007

    One aspect of this market that has remained remarkably consistent has been the level of corporate activity. This is despite the growing belief that private equity deals may be more difficult to put together due to the state of the credit market. The move on Sainsbury by Delta Two, not strictly a private equity group although sharing many of the characteristics, will involve a fair amount of borrowing. These operators may see market value that the more nervous among us believe is no longer ...

  • Standard Life Bank to axe exit fees from end of July

    25 Jul 2007

    Standard Life Bank has become the latest lender to confirm it will be axing its exit fees from July 31.A spokeswoman says: “Standard Life Bank can confirm that as from 31 July new mortgage customers will not be charged a Mortgage Exit Administration Fee when they redeem.”Standard Life Bank previously charged £230.This follows Cheltenham and Gloucester’s recent announcement that it has axed its exit fees on all future lending.

  • Standard Life Healthcare launches modular product for small businesses

    25 Jul 2007

    Standard Life Healthcare has launched a new modular business healthcare product aimed at SMEs.

  • Standard slaps 26% MVR on NRA cash

    26 Jul 2007

    An adviser has slammed Standard Life for applying a 26 per cent market value reduction on the with-profits holdings of a client who has reached his nominated retirement age.

  • STANLIB to launch two new African equity funds

    31 Jul 2007

    STANLIB has announced the launch of the Standard South Africa equity fund and the Standard Africa equity fund, both to launch as UCITS III funds.

  • Suisse to merge multi-manager funds

    26 Jul 2007

    Credit Suisse is to streamline its multi-manager fund range after poor take-up of its regional funds.

  • The Commerce Centre hits 1,000 RIs

    31 Jul 2007

    Since launching in June, The Commerce Centre has now reached 1,000 registered individuals.

  • The Mortgage Operation partners with Debt Advice Portal

    25 Jul 2007

    Debt Advice Portal has partnered with The Mortgage Operation in order to refer indebted clients to the firm.

  • The Mortgage Works - Two Year Fixed Buy To Let

    26 Jul 2007

    The Mortgage WorksSelf-Cert Two Year BBR Tracker

  • The thrill of the Chase for Phil

    26 Jul 2007

    Congratulations to Phil Wicks, who became the fastest financial professional in the history of the JP Morgan Chase Corporate Challenge on July 12. The claims administrator from Legal & General ran 3.5 miles around Battersea Park in 16 minutes 45 seconds. The 23-year-old was joined by nearly 13,000 other participants from 302 companies in the London leg. The race moves next to San Francisco on September 19.

  • Thinc's Chamberlain to retire from industry

    25 Jul 2007

    Thinc Group chief executive Simon Chamberlain is retiring from financial services to spend more time with his family.

  • Threesixty says IFAs must make voice heard on RDR

    26 Jul 2007

    Threesixty is urging IFAs to respond to the retail distribution review and warns they should not dismiss it as merely a discussion document.

  • Tories warns HIPs are ploy for more tax

    31 Jul 2007

    The Conservatives has continued its onslaught against Home Information Packs , set to be launched tomorrow, warning that the scheme is being used as a ploy by the Government to use the Hips database to increase council tax bills.

  • Transact users could meet even tightest CAR definition

    31 Jul 2007

    Transact’s head of marketing Malcolm Murray says advisers using his platform will be able to satisfy even a very tight definition of customer agreed remuneration as recently proposed by the ABI.

  • Two firms face enforcement action over unauthorised overdraft charges

    27 Jul 2007

    The FSA has started enforcement action against two firms following its investigation into the way companies handle complaints about unauthorised overdraft charges.

  • Two will not become one says Friends Prov and Resolution

    31 Jul 2007

    As Resolution and Friends Provident try to push through their merger they have already announced the likely fate of the two protection outfits - Friends Prov and Scottish Provident.

  • Webline launches new data capture facility

    27 Jul 2007

    Webline has launched a client data capture facility on its system it says will save advisers’ time by pre-populating data fields in to online application forms.

  • Why can't we record FSA's compliance visits?

    26 Jul 2007

    I was alarmed to read about the FSA's practice of covertly recording conversations between its mystery shoppers and targeted advisory firms.

  • Why property funds dual-price

    26 Jul 2007

    A week is a long time in fund management. Returning after a week’s holiday. I am met with a torrent of emails and press cuttings about investors “losing money” on property funds.

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