Money Marketing
25 May 2005
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Investment view
26 May 2005
Self-invested personal pensions look like being the real growth area in financial planning over the next few years.
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29% Of workers not saving for retirement
26 May 2005
Employer pension contrib-utions have increased in the past 12 months but almost one-third of workers are still not saving anything for their retirement, according to a survey by Origen.
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A new age
26 May 2005
Unum Provident head of external affairs, Peter Barnett, says tackling age discrimination and NHS policies are vital if the Government is to succeed with its plans to help people stay at work beyond state pension age.
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Abbey fined 800,000 for mishandling mortgage endowment complaints
25 May 2005
Abbey has been fined 800,000 by the FSA for mishandling mortgage endowment complaints and misleading the regulator over its complaint handling process.
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Abbey protects multi-manager fund
31 May 2005
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'Advisers holding back equity release'
26 May 2005
IFAs' reticence to recomm- end equity release is stifling distribution and holding back the market, said Simply Lifetime joint managing partner Alastair Waldron at the Manchester Mortgage Expo event last week.
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Aifa criticises PwC tactics on Exeter splits
26 May 2005
Aifa is telling IFAs with clients who have splits losses relating to Exeter Fund Managers not to be distracted by a PricewaterhouseCoopers mailout saying advisers may be liable.
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Alliance & Leicester - Two Year Fixed Rate Mortgage
31 May 2005
Alliance & LeicesterTwo Year Fixed Rate Mortgage
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Andy Hunt
26 May 2005
The new managing director of Marl-borough Stirling is passionate about sailing and was at the helm of the firm's takeover by Vertex. Now he is aiming for a smooth passage in customer relations.
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Approach Sipps with caution says ARLA
31 May 2005
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Axa PPP covers essentials with a plan for over-55s
26 May 2005
Axa PPP Healthcare is introducing a medical insur- ance policy with restricted cover designed specifically for the over 55s.
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B-A in property link-up
26 May 2005
IFA network Burns-Anderson has signed a deal with international property specialist Conti Financial Services to help clients interested in buying property abroad.
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BM Solutions - Buy-To-Let 5.75% Fixed
26 May 2005
BM SolutionsBuy-To-Let 5.75% Fixed
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Changing colour of money
26 May 2005
The investment landscape is changing rapidly. New funds are being introduced which could never have been promoted to retail investors in the past.
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Charge less for lower service
26 May 2005
I note the somewhat impolite letter recently from Filip Slipaczek. Filip is a well renowned IFA, probably most noted for his pomposity.
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Claim is the spur
26 May 2005
The recent case of Seymour v Ockwell & Co creates interesting legal issues in relation to the promotion and sale of products by providers.
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Close to the property action
31 May 2005
Close Property InvestmentSeventh Special Opportunities Fund
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Club together for film EIS
26 May 2005
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Compliance chief leads onslaught on watchdog
26 May 2005
Millfield Group compliance manager Mark Sexton has launched a scathing att- ack on the Financial Ombudsman Service.
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Consumer groups and ABI come together to demand swift regulation of home reversion
26 May 2005
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Coulson clash with Zurich
26 May 2005
Richard Coulson says Zurich is obstructing the promotion of his new network after his former employer launched legal proceedings against him last week.
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Cover the business market
26 May 2005
Right now, there is a massive level of activity and interest in the protection market.
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David Walton appointed to Bank of England's MPC
26 May 2005
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Dawnay Day Quantum - Protected Commodities Accelerator IV
26 May 2005
Dawnay Day QuantumProtected Commodities Accelerator IV
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Dividend rises underpinning Euro equities
26 May 2005
The dividend yield on European equities has increased by 75 per cent over the past five years, boosting investor returns.
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Divorce after A-Day
26 May 2005
As a solicitor practising in family law, will the new pension simplification rules have an impact on any of my clients who are considering divorce?
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'Don't forget protection'
26 May 2005
Mortgage intermediaries need to consider protection as an important part of the sales process now that mortgages and protection are both regulated, says Bright Grey products director Roger EdwardsHe said that clients will typically not know that joint-life cover bought from a supermarket is not necessarily better value than two individual life policies even though the supermarket price may appear to be marginally cheaper.
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Download time for offset calculator
26 May 2005
Mortgage brokers can now download a version of Intelligent Finance's offset mortgage calculator to show cli- ents how offsetting can save money.
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Equitable holds talks on selling with-profits fund
26 May 2005
Equitable Life revealed at its AGM last week that it has been in discussions with closed life fund buyers about selling its 10bn with-profits fund.
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'Equity release is misselling timebomb waiting to go off'
26 May 2005
Equity release is a misselling "timebomb waiting to go off" and a lack of understanding of investment risk is a threat to advisers, warns independent complaint handling consultant Adam Samuel.
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Fairly liquid
26 May 2005
Our panel of experts consider whether the FSA's Treating Customers Fairly initiative should stay guidance or become regulation.
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Fee move for Purely Mortgages
26 May 2005
Purely Mortgages will become fee-based from June 1 in a bid to raise productivity which it says has suffered from lenders' ineptitude since M-Day.
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Flight isn't thinking what I am thinking
26 May 2005
Howard Flight's utterances as reported in Money Marketing last week are quite bizarre.
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FSA keeps fees the same for next year
27 May 2005
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FSA orders clarity on rate review
26 May 2005
The FSA has warned product providers that they must make clear to clients why they may review rates.
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FSA probe finds interest mismatch over release
26 May 2005
FSA mystery shoppers claim that most advisers do not assess suitability for equity release and point to an interest gap between recommended sch-emes and product investment.
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FSA still needs to define misselling to stop phoenixs
26 May 2005
After seeing the front-page article, FSA pledges crackdown on phoenix companies (Money Marketing, May 12), I have to say that the FSA is taking a more pragmatic approach to phoenix firms.
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FundsNetwork and Sesame deal boosts Isa sales by 80%
26 May 2005
Sesame's partnership with FundsNetwork has resulted in an 80 per cent increase in Isa season sales among network members.
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GMAC-RFC lowers rental assessment on buy-to-let mortgages
26 May 2005
Gmac-RFC is cutting the proportion of a mortgage that projected rents need to cover for a buy-to-let loan.
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Halifax warns of 1.8m loss in unredeemed CTF vouchers
31 May 2005
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Harris on Mortgages
26 May 2005
Buy to let has been back in the news for all the wrong reasons. The Government's crackdown on buy-to-let property schemes, which promise huge gains to novice investors, has hit the headlines.
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HSBC Amanah enhances its Islamic finance range
31 May 2005
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'IFAs are failing realistic regime'
26 May 2005
IFAs are failing to get to grips with the new realistic reporting regime, says FSA insurance sector leader David Strachan.
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IFAs just don't understand us, says ombudsman
26 May 2005
The Financial Ombudsman Service hit back at critics and says IFAs do not really understand its services as they are only very occasional users and that inconsistencies will happen.
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IFAs stay with equities for pension choice
26 May 2005
The Investment Management Association says managers of pension funds moved 40bn from equities into bonds last year but that advisers largely stayed loyal to equities.
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IFAs warned of dangers in ignoring structured products
26 May 2005
IFAs are ignoring structured products at their peril, says SG Hambros head of product development Peter Gardner.
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Illness forces Tiner to take leave
26 May 2005
FSA chief executive John Tiner has been diagnosed with prostate cancer and is stepping down from his role until later this year.
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IMA appoints new board members
27 May 2005
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Independent view - Fiona Sharp
26 May 2005
I watched the run-up to the general election with interest. I was curious to see which of the three major parties would deal with the financial issues that we, as IFAs, enc-ounter daily.
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Individual PMI policies continue to decline confirms ABI
27 May 2005
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Is Old Mutual set for Swede success?
26 May 2005
Old Mutual's plan to take over Skandia would see the mer- ger of two companies that dominate the financial services market in their home countries of South Africa and Sweden.
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Julian Gibbs
26 May 2005
Keydata has come up with yet another innov- ative investment plan which enables investors to get up to 40 per cent tax relief on investments in residential property.
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Jupiter call to reject Old Mutual bid for Skandia
26 May 2005
Jupiter has added its voice to the debate over Skandia's future, saying Old Mutual's bid for the Swedish firm is a bad idea.
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Know it and show it, warns regulator
26 May 2005
The FSA says mortgage intermediaries have only a "patchy" knowledge of regulatory issues in many areas despite a relatively smooth transition into a regulated environment.
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L&C launches five year fixed rate
26 May 2005
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Landlords are not chasing after fast returns, says poll
26 May 2005
Only 9 per cent of landlords cite house price inflation as their main reason for purchasing buy-to-let properties, according to the National Landlords Association.
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Leads from IFAP bring in 47m business
26 May 2005
IFA Promotion says it generated up to 47m in commission income for IFAs last year, up 52 per cent on 2003.
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Matrix tops up ascension
27 May 2005
Matrix Money Management is offering a top-up issue for the Matrix ascension plan, a capital-protected hedge fund,
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Mayhem on the market menu
26 May 2005
IFA network members face entering the depolarised world looking as costly as the most expensive member in their network or scrambling to customise their own menu by June 1.
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McPhail in warning on misleading Sipp rates
26 May 2005
Consumers should watch out for misleading interest rates within Sipps, says Hargreaves Lansdown head of pension research Tom McPhail.
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'Moms are cheaper than Fofs when changing managers'
26 May 2005
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Morgan Stanley in ad threat
26 May 2005
Morgan Stanley in the US has instituted a policy of withdrawing advertising from newspapers giving the firm negative coverage.
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Mortgage Trust - Mass Market Buy-To-Let 1 Year Fixed Rate
31 May 2005
Mortgage TrustMass Market Buy-To-Let 1 Year Fixed Rate
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Nationwide Building Society - Two Year Fixed rate With Reservation Fee
25 May 2005
Nationwide Building SocietyTwo Year Fixed rate With Reservation Fee
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NDF Administration - Growth Plan May 05
27 May 2005
NDF AdministrationGrowth Plan May 05
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No conflict in being a mason
26 May 2005
I was surprised to read that IFA Defence Union chief Evan Owen wants the FSA to publish a list of Freemasons. It would be like asking MPs or anybody else to do the same.
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No holds barred
26 May 2005
Last week, I looked at how business and agricultural property can qualify for holdover relief if gifted with inherent gains. The other perhaps more relevant way to secure holdover relief is in respect of any gift of an asset into a discretionary trust. This is because the transfer will be a chargeable transfer for inheritance tax purposes.
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No silver spoon in my mouth
26 May 2005
I refer to my letter, Backwoodsman of the PFS (Money Marketing, May 5) and Mr Barnett's rather emotional response. I empathise with his sad personal circumstances and at no point did I question his or any other person's integrity or honesty.
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Noble portfolios take Aim at IHT
26 May 2005
Noble is introducing two portfolios investing in companies listed on the Alternative Invest- ment Market.
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Norwich MoM plays manager name game
25 May 2005
Norwich UnionNorwich Manager of Manager Income Fund
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NU adds funds on investment bond
26 May 2005
Norwich Union is adding 32 funds to its Portfolio investment bond and is offering an online portfolio planning tool called Forecast to help advisers with asset allocation.
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NU sales chief Hales to become CII president
26 May 2005
Norwich Union sales and marketing director Peter Hales is taking over as president of the Chartered Insurance Institute in September.
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Out of context
26 May 2005
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Pension lessons from abroad
26 May 2005
In April, the Association of British Insurers, published a fascinating paper, available on its website, entitled, UK Pension Reform - Lessons From Abroad?
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People will work on to make up shortfall
26 May 2005
The shortfall in pension investment is already causing people to work longer, according to a survey by Friends Provident.
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PFS's view
26 May 2005
Three words seem to be on everyone's lips in recent weeks - treating customers fairly. Unfortun- ately, quite often, this issue is seen to be mainly about compliance. Many people say they need to have much more guidance or even det-ailed rules before they can implement a package of measures.
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Phone phonies
26 May 2005
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Pointon Sipp targets French property
26 May 2005
Pointon York Sipp Solutions is offering a specialist French property Sipp in anticipation of strong interest in the overseas buy-to-let market after A-Day.
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Police Mutual launches multi-manager funds
31 May 2005
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PPF 'could end up owning half the British motor industry'
26 May 2005
An actuary is warning that the Pension Protection Fund could end up owning half the British motor industry if it takes on the pension liabilit- ies of failing companies in return for an equity stake in the continuing venture.
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Protection business plummets
26 May 2005
Protection business plummeted last year, widening the life insurance gap to 2.2 trillion, according to figures from Swiss Re.
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Pru puts IFAs in lab to study behaviour
26 May 2005
Prudential is opening two adviser experience centres where IFAs' behaviour is observed under laboratory conditions.
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Regulator to crack down on contingent tactics
26 May 2005
The FSA is to clamp down on advisers who offer a small contingent fee service and then raise fees to scare clients into a commission-based service while keeping their independent status.
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Remember role for distribution
26 May 2005
So is a Government-backed shared ownership scheme the answer to the SOS coming from potential first-time buyers priced out of the market?
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Repo rethink
26 May 2005
A shudder was sent through the lending industry recently with statistics from the Department of Constitutional Affairs covering the number of possession actions issued in the courts during the first quarter of this year showing a 35 per cent increase on 2004.
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Reversion regulation could be on fast track
26 May 2005
The Queen's Speech last week confirmed that home-reversion schemes will be covered by the same proportionate regulation as lifetime mortgages. Legislation is set to be enacted within 18 months although it could take some time for regulation to be fully implemented by the FSA.
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Samuel leaves Gartmore
31 May 2005
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Severn adds Aifa voice to the clamour against Barclays multi-tie
26 May 2005
Aifa director general David Severn rejects Barclays Financial Planning multi-tie network's whole of market credentials.
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Shared equity could hit FTBs outside scheme
26 May 2005
Chancellor Gordon Brown's shared-equity scheme could make matters worse for those outside the scheme, say mortgage industry experts.
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Shout it from the Rooftop
26 May 2005
Despite recent criticism of mortgage packagers, Rooftop Mortgages is achieving 80m completions a month as a specialist lender creating exclusive deals with packagers and believes it has plenty of opportunities to expand, says Andrea Tryphonides.
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Skipping to Stateside
27 May 2005
Skipton Building SocietySeven Year Stateside Tracker Mortgage
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Skipton Building Society - Four Year Stateside Tracker Mortgage
25 May 2005
Skipton Building SocietyFour Year Stateside Tracker Mortgage
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Standard looks to set up with-profits switch deals
26 May 2005
Standard Life is looking at ways of enabling disgruntled with-profits policyholders to switch out of their schemes into better-performing products.
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Strachan sets out his five regulatory nightmares
26 May 2005
FSA insurance sector leader David Strachan set out his five regulatory causes of sleepless nights in his speech to the Institute of Economic Affairs.
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Structured Solutions Group - Early Bonus Plan II
27 May 2005
Structured Solutions GroupEarly Bonus Plan II
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Structured Solutions joins early maturity gang
25 May 2005
The early bonus plan from Structured Solutions Group is a six-year guaranteed equity bond which has an early maturity feature triggered by the performance of the FTSE 100 index.
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Take your portal pick
26 May 2005
In my last two columns, I have looked at a number of issues that advisers should take into account when planning to put a new client management system into their business.
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Testing times ahead as court rules against Zifa
26 May 2005
IFAs suffering from heavy compensation claims have been given new hope of recouping part of their losses where providers are in part to blame, after a case in the Bristol High Court.
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The first half
26 May 2005
Six months into regulation and there have been a lot of positive aspects with the market staying competitive.
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The FSA doesn't understand its own rules
26 May 2005
So the FSA now admits that mortgage key facts illustrations are too long although, true to form, no comment is offered as to why this might be a problem, other than an increased risk of inaccurate content.
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The online express
26 May 2005
Technology is revolutionising the housebuying process all the way through the supply chain and plays a key role in everything from helping the customer find their perfect property right through to completions.
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Tom Baigrie on protection
26 May 2005
Have you seen the recently published Morgan Stanley figures revealing that around 10 per cent of clearing bank profits in the UK come from flogging payment protection insurance? This includes mortgage payment protection insurance or accident, sickness and unemployment insurance to the old-fashioned.
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Tribunal slashes Legal & General's FSA fine by half
27 May 2005
Legal & General's 1.1m fine for mortgage endowment misselling was yesterday chopped down to 575,000 by the independent Financial Services & Markets Tribunal.
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US hedge fund ruling may hit UK managers
26 May 2005
UK fund of hedge fund managers could face increased costs and reduced fund choice due to a ruling from the US Securities and Exchange Commission, a legal expert has warned.
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Verity's view
26 May 2005
"Become a property millionaire," says the big bold type on the glossy brochure dropping through the letterbox in your front door. Contact us and we will show you how to build up a portfolio of property worth more than 1m and the best bit is this: you need not risk much - or any - of your own money.
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Wagg act
26 May 2005
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Weak season for investment trust Isas
26 May 2005
The Association of Investment Trust Companies says investment trust Isa season business down by 7 per cent this year.
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Why I read last rites for networks
26 May 2005
Anyone who heard my speech at the recent Building Societies Association annual conference in Harrogate or read about it in Money Marketing will be aware that I predicted that within 12 months there will be no mortgage networks.
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Widows hands out five-star treatment
26 May 2005
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Winterthur adds features to its IFA portfolio balancer
26 May 2005
Winterthur Life has introduced a new version of its IFA portfolio-modelling tool, portfolio balancer.
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Withdrawal symptoms
26 May 2005
The FSA is concerned that relaxation of the income drawdown rules as part of simplification will increase the need for quality advice, says Intelligent Pensions director Steve Patterson.
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Woolwich calculates returns on capital plus
26 May 2005
Woolwich Plan Managers has established the seventh issue of the capital plus plan, a FTSE 100-linked guaranteed equity bond, for the IFA market.
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'Wraps and supermarts not meeting IFA needs'
26 May 2005
Wrap providers and fund supermarkets are not doing enough to cater for the needs of the advisory community, according to the Financial Technology Research Centre's first wrap survey.
