25 July 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.
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
Protection must keep pace with medical advances and convince the public that they need the product
Lloyds TSB has sold its closed book business Abbey Life to Deutsche Bank for almost £1bn.
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.
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.
Witan has offloaded APS Asset Management, which ran its Asia Pacific holdings, after a prolonged period of underperformance.
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.
Axa Framlington has reopened George Luckraft’s equity income fund to new business for the first time since it was soft closed in 2005.
BarclaysGlobal Property Plan - Issue 51
Barclays Global InvestorsiShares S&P/MIB
Barclays Global InvestorsiShares MSCI Europe
Barclays Global InvestorsiShares S&P Global Clean Energy
Nicole Blackmore reports on reaction to the possibility that the historic Norwich Union brand could be scrapped in favour of Aviva
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.
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.
Protection advice makes money while non-advice barely breaks even
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
EdeusTwo-Year Self-Cert Tracker
Acorn Capital PartnersEurocape II Property Finance
It may be worth suffering penalties to transfer from existing pension plans to the more flexible environment of a Sipp
Can any sane individual suggest the consumer will be less confused?
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.
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.
Rod McKie, head of individual protection marketing at Aegon, outlines the benefits for advisers in using product providers' end-to-end processing systems
Chris Salih reports on 130/30 fund strategies
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.
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.
Threadneedle has appointed Crispin Henderson as chief executive officer as part of a senior management reshuffle within the firm.
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.
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.
Investec Asset Management has brought out the Global Extension Fund, its interpretation of 130/30 investment strategies.
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
Jupiter Asset Managament (Bermuda)Asia Pacific Hedge Fund
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.
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.
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.
A few years ago, when I was working for a newspaper, one of its senior executives came to see me about writing a story.
Meteor Asset ManagementGemini
Meteor Asset ManagementOrion
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.
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.
The Tilney European growth fund has been transferred to New Star and rebranded as the New Star European Value fund.
Octopus InvestmentsCF Octopus Opportunities Fund
Bottom-up investing comes to the fore as several forces are distorting European valuations
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.
OPM Fund Management is increasing its exposure to uranium stocks through a holding in a Deutsche Bank structured product.
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
It is not for the regulator to decide if my client pays commission or fees
Close life consolidator Pearl Group has acquired an 11.28 per cent stake in Resolution via a direct stake and derivatives.
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.
The cost of living for people aged 65 and over is rising faster than the national average, according to research by Prudential.
Will private pensions be allowed an advantage over personal accounts
Pioneer Friendly SocietyProfessional Income Protection
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?
Pioneer Friendly Society has further flexed its income protection credentials with its latest innovation - professional income protection (Pip).
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.
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.
Continuing to consider the assessment of realised gains under roll-up funds
Friends Provident and Resolution's merger will create a new life company to be called Friends Financial Group plc.
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
SchrodersSchroder Japan Alpha Plus
Tony Burdin has been appointed managing director of Scarborough Channel Islands Limited, effective immediately.
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 ...
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.
The Mortgage WorksSelf-Cert Two Year BBR Tracker
Thinc Group chief executive Simon Chamberlain is retiring from financial services to spend more time with his family.
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.
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.
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.