Money Marketing
26 January 2005

  • A Consumer's View

    27 Jan 2005

    You have to wonder whether the policymakers at the Treasury and Inland Revenue really know what they are doing. Analysis by Standard Life senior technical manager John Lawson of the tax implications of holding residential property in self-invested personal pensions has put some solid figures on what most of us have been thinking.

  • A word to the Wise on Fof performance

    27 Jan 2005

    IFA firm Wise Investment is planning an income fund of funds this year but anticipates difficulties in marketing it to other IFAs because of a general bias towards big-brand names.

  • Abbey multi chief warns of bond risk

    27 Jan 2005

    Abbey head of multi-manager John Kelly has warned investors about the dangers of junk bonds.

  • Aberdeen flat fee for Isas

    26 Jan 2005

    Aberdeen Asset Managers launched a new pricing structure to benefit longer-term holders of PEPs and ISAs. Aberdeen has introduced a flat ISA/PEP fee of 24 a year, regardless of the number of Aberdeen investment trust ISAs and PEPs held by individuals.

  • Advisers snub pro bono plan

    27 Jan 2005

    A free financial advice pilot scheme by the Citizens' Advice Bureau is stalling because IFAs are reluctant to sign up.

  • AITC calling for education agency

    27 Jan 2005

    The Association of Investment Trust Companies is pressing for a dedicated financial education agency.

  • Angels aim for golden halo of pure profit

    27 Jan 2005

    Smaller growth companies should remember that business angels are principally motivated by profit, says private equity consultant AngelBourse.

  • Are ETFs on the right track?

    27 Jan 2005

    Exchange traded funds are making a break for the mainstream but their success in the UK lags behind the US.

  • Axa IM's Griffiths takes on second role

    27 Jan 2005

    Axa IM UK chief investment officer Paul Griffiths is to combine the role with that of UK chief executive.He will continue to be based in London and will report to global chief executive Nicholas Moreau.

  • B&B throws its hat back into the ring

    27 Jan 2005

    Bradford & Bingley's new mortgage proposition finally cements plans to rid it of its subsidiary arms and create a high-street multi-tie.

  • BBB deputy Main leaves after three months

    27 Jan 2005

    Berkeley Berry Birch deputy chairman Bill Main is stepping down only three months after being hailed as a "significant appointment" by chairman and chief executive Cliff Lockyer.

  • Bedlam makes two new appointments

    31 Jan 2005

    Bedlam Asset Management has appointed Nigel Johnson-Hill and Rodney Baker-Bates as non-executive chairman and chairman of its audit committee respectively.

  • Benefit buy boosts Torquil Clark turnover to 5m

    27 Jan 2005

    Torquil Clark has acquired neighbouring firm PS Employee Benefits in a deal that will more than quadruple company turnover.

  • Bonanza options at Millfield

    27 Jan 2005

    Directors and top managers at Millfield have been handed huge share and bonus packages.

  • Boxing clever

    27 Jan 2005

    Financial journalists may not seem like the best at keeping secrets - unless its from their own boss. One finance hack is doing exactly that after stepping into the boxing ring last weekend.The mild-mannered scribe had no fear as he slugged it out and emerged as the champ after three rounds at London's Hammersmith Palais. But he was distinctly nervous at letting his boss in on the bout and breathed a big sigh of relief at being able to turn up for work without a black eye.

  • Bridge the gap

    27 Jan 2005

    Four IFAs set out their manifestos for boosting pension saving.

  • Britannia BS cuts fix rates

    27 Jan 2005

    Britannia Building Society is offering new two-year, five-year and 10-year fixed-rate mortgages.

  • Britannia International - Guaranteed Income and Growth Bond

    26 Jan 2005

    Britannia InternationalGuaranteed Income and Growth Bond

  • Bulgarian dream for Development Capital

    31 Jan 2005

    Jersey-based Development Capital Management has established a closed-ended fund which invests in residential Bulgarian properties in prime areas along the coast and ski resorts.

  • Bull in a mortgage shop

    27 Jan 2005

    Secure Mortgages has taken on board the talents of ex-Wolves goal machine Steve Bull to unveil its new financial services shop in Wolverhampton.

  • Burns' night

    27 Jan 2005

    Axa Life head of field sales Alison Burns left male IFAs quaking at the IFA Woman IFA of the Year awards last week.She started her speech with a description of her first weeks in financial services, which involved being made an honorary "bloke" by her all-male team and given the name "Peter" as a mark of respect. Unlucky for the man who christened her when she became his boss six months later, inviting him into her office to be baptised "Mary".

  • Business boost for St James' Place

    26 Jan 2005

    Wealth Management Group St James's Place Capital has reported 19 per cent new business growth for 2004. Unaudited results for 12 months to December 31 2004 show funds under management have reached 9.5bn, up by 20 per cent since the start of 2004. New investment business went up by 19 per cent to 95.3m. New pensions business was also up to 56.2m, up by 27 per cent. New protection business saw a small rise of 4 per cent to 25.8m.

  • Cater Allen Private Bank - Reserve Account For Pensions

    26 Jan 2005

    Cater Allen Private BankReserve Account For Pensions

  • Charles Stanley sets Sipp threshold at 25,000

    27 Jan 2005

    Stockbroker and wealth manager Charles Stanley has set up a low-cost, low-entry threshold Sipp to attract pension savers with modest funds.

  • Cheltenham & Gloucester - Two Year Premium Fixed Rate Mortgage

    28 Jan 2005

    Cheltenham & GloucesterTwo Year Premium Fixed Rate Mortgage

  • CII adds pension simplification exams

    27 Jan 2005

    The Chartered Insurance Institute is launching new exams on pension simplification.

  • Close competition far away

    31 Jan 2005

    Close Property InvestmentClosePip Isa and Pep

  • Close tweaks ClosePip for Isas

    27 Jan 2005

    Close Property Investment has established the ClosePip Isa and Pep, a feeder fund that enables its ClosePip fund of property funds to be accessed through Isas and Pep transfers.

  • Commentary

    27 Jan 2005

    The FSA's sensible fears at the misselling of whole-of-life insurance have aroused the legendary Terence O'Halloran's ire at those of us who regularly recommend term insurance.In truth, I write this article thanks to some serious arm-twisting from my term insurance-recommending advisers, whose relative youth means that they have no idea of the wrath and scorn that Terence will pour over my reputation.I am old enough to remember Terence's vitriol on what turned out to be the ...

  • Confidence is the real loser after legal appeal

    27 Jan 2005

    If IFAs had any confidence and respect for the FSA, that has been eroded in the last seven days.

  • Core Investec funds with Selestia doubled

    1 Feb 2005

    Investec Asset Management have doubled the number of funds available on the Selestia platform, increasing the list to 14.

  • Correspondent's Week - Bruce Love

    27 Jan 2005

    It is quarter to three on a Friday morning on the Millennium Bridge and beyond the sheer physical need to get somewhere warm where I can rest and sober up, I am consciously aware that in eight hours, there are two important things that need to be accomplished.The first is to get myself to Belgium for a meeting at the Brussels Press Club, where Invesco will launch its campaign for a more lenient European regulatory structure for collapsing funds.The second is to file this Correspondent's ...

  • Credit Suisse is extending discount deal to Cofunds

    27 Jan 2005

    Credit Suisse Asset Management has issued new dealing terms on its multi-manager range.

  • Deal uncertainty sees lawyers take split-cap action

    27 Jan 2005

    Lawyers are pressing ahead with law suits against IFAs who sold split-capital trusts despite the terms of the FSA's Christmas Eve deal.Many more investors who received advice on splits in 1999 are likely to start action this year because of a six-year time bar for claims.City lawyers are set to push through misselling cases because they cannot guarantee investors when or how much cash will come from the regulator's compensation fund.It could render the FSA's deal, that saw ...

  • Discount Isas can distract investors warns Baillie Gifford

    1 Feb 2005

    Discount offers on Isa investments can be distracting and costly, warns Baillie Gifford.

  • Eats goes back to Cofunds for L&G tie-up

    27 Jan 2005

    Threadneedle communications director Richard Eats is rejoining Cofunds on a part-time consultancy basis from this week to help the fund supermarket develop its strategy around the Legal & General tie-up.

  • Ethical CTF for Co-op

    26 Jan 2005

    Co-operative insurance Society is offering the first ethical stakeholder child trust fund in partnership with Childrens Mutual. The CTF account invests in the CIS FTSE4 Good tracker trust.

  • Ex-Network 300 members rebuff peace talks

    27 Jan 2005

    Ex-members of Network 300 have rejected an invitation to peace talks by former directors of the group.In an open letter to Money Marketing, Ex-Network 300 members' action committee chairman Darren Kempster has instead asked all former directors to pass to the liquidator all documentation pertaining to the sale of Network 300.Batten has brought tog-ether the directors of the liquidated company in an effort to discuss ways to resolve issues with the Network 300 members.He ...

  • F&C ethical fund A top performer in last five years

    27 Jan 2005

    F&C Asset Management claims that the latest White List report from Principal Investment Management shows that ethical funds do not always have to be risky.

  • F&C in trust merger discussions

    31 Jan 2005

    F&C is looking to merge its capital and income and income growth investment trusts.

  • Fidelity Investments ready to launch Sterling bond

    28 Jan 2005

    Fidelity investments plan to launch their Sterling bond fund in April.

  • Firms urged to clear pension shortfalls with loan

    27 Jan 2005

    Companies with pension sch-emes in deficit should borrow cash to pay off the shortfall now rather than pay the MFR minimum contribution, according to actuarial firm First Actuarial.The firm says merely paying the minimum required each month will be more expensive, allowing the debt to accrue in much the same way as a credit card debt.Director Alan Smith says that a pension scheme with a £500,000 deficit would take 15 years to pay it off at the minimum £36,000 a year ...

  • Forsyth launches specialist portfolios

    31 Jan 2005

    Forsyth Partners has launched two specialist sector funds of funds targeting returns from global commodities and property.The Bermuda-domiciled funds of funds portfolios will be managed by Forsyth Partners chief investment officer Peter Toogood.Forsyth global property will have an income bias while global commodities will target capital growth. Both carry a 2 per cent annual management charge and are US dollar denominated.

  • Framlington - Managed Balanced Fund

    31 Jan 2005

    FramlingtonManaged Balanced Fund

  • Framlington income fund soft closure

    26 Jan 2005

    The Framlington equity income fund, managed by George Luckraft, is to soft-close from Friday 25th February 2005 by raising its initial charge to 5.25 per cent. The fund now holds 658m having grown from 157m at the end of 2003. Framlington says that there could be a risk to the funds performance should it continue to grow at its present rate.

  • Friends cuts individual pension commission

    27 Jan 2005

    Friends Provident is to bec-ome the latest life office to slash commission rates on individual pension policies, with a 75 per cent cut from February 1.IFA remuneration on these policies is falling from 40 per cent to 10 per cent of Lautro rates. This applies to regular-premium business into stakeholder and non-stakeholder personal pension plans. Commission rates on group business is under review.The move follows similar announcements by Norwich Union, Standard Life and Scottish ...

  • Friends Prov online protection service takes top spot in survey

    27 Jan 2005

    Friends Provident has pipped Legal & General to first place in a Lifesearch survey of protection providers' online offerings.Scottish Provident and Liverpool Victoria are bottom of the survey, scoring 47 and 49 points respectively out oa possible 100.The survey grades prov-iders on 10 criteria, including pipeline tracking, technical support, incentives, proposal forms, site navigation and money laundering.Friends, which was awar-ded 82 points by Lifesearch, enhanced ...

  • FSA gives alert on property income

    27 Jan 2005

    The FSA has warned homeowners about the dangers of overestimating the income they could receive from their property.

  • FSA rejects IFAs' requests under Information Act

    27 Jan 2005

    IFAs have been outraged by the FSA's decision to turn down a request for details of pension reviews made under the Freedom of Information Act.The increasingly active IFA Defence Union has had the first of several Freedom of Information requests to the FSA rejected because the regulator says it would have been too costly to respond.The defence union sent a request to the FSA demanding to know how many IFA firms were found to be fully in compliance during visits carried out by ...

  • FTB numbers slump to lowest level in 23 years

    27 Jan 2005

    The number of first-time buyers entering the property market is at its lowest level since 1981, according to The First Time Buyer Annual Review by the Halifax.

  • GE Life relents on impaired annuity

    27 Jan 2005

    Professional Solutions IFA director Mark Ryan has won a battle with GE Life after confusion over placing an impaired life annuity.Ryan was quoted a rate of 6.5 per cent on a £22,000 impaired life annuity but subsequent quotes were reduced by the company to 5.5 per cent. This left Ryan being forced to revisit the client, requote and write a new suitability letter.GE Life says it reduced the rate once it realised that the £22,000 was made up of three separate annuity ...

  • GMAC-RFC enhances its buy to let range

    31 Jan 2005

    GMAC Residential Funding enhances its buy to let range with loans up to 89 per cent LTV

  • GMAC-RFC launches its new mortgage range

    31 Jan 2005

    GMAC Residential Funding is launching a new range of non-conforming mortgage products.

  • Harris on Mortgages

    27 Jan 2005

    It is little wonder that there is so much confusion surrounding the future of the housing market when there are at least half a dozen indices all claiming to offer the definitive picture as to what happened to house prices the previous month.

  • HBOS to shun basic advice

    27 Jan 2005

    HBOS Financial Services is shunning basic advice and will continue to offer full advice on stakeholder products through its Halifax branch network from April 6.The group is launching the Halifax cautious managed fund, to be run by sister group Insight Investment, as its default stakeholder medium-term savings product on the same date.HBOS was one of several providers and distributors which tested the basic advice regime with the FSA but it has come down firmly against offering ...

  • Help the children of the tsunami

    27 Jan 2005

    The events of Boxing Day morning in Asia brought a disaster of unimaginable proportions which has directly touched the lives of countless people in Asia and around the world.Many children have been affected, with many of the survivors now orphaned. It is support in the short, medium and long term on behalf of this vulnerable group for which we would like to ask for your support.Many in the financial services industry have already taken action.The future support of children is ...

  • Henderson on Horizon with global property fund

    27 Jan 2005

    Henderson Global Investors has set up a Horizon global property equities fund which will invest in listed property securities worldwide.

  • Home brew

    27 Jan 2005

    Despite a brief interruption by my ramblings on the pre-Budget report, I have recently been concentrating on the important subject of inheritance tax planning using the principal private residence. On the face of it, this may seem like a subject of only passing importance to financial advisers as it does not involve any financial product but this would be a short-sighted view.

  • Home on the range

    27 Jan 2005

    Non-conforming lender Mortgages plc believes the challenges to innovation posed by regulation will see lenders bounce back with some interesting products and it has its own range lined up, including plans for affordability-based lending.

  • Hopwood quits Bankhall

    27 Jan 2005

    Former Bankhall IT director Nigel Hopwood is leaving the firm after two years following a merger of its IT and operations departments.Hopwood is assisting new IT and operations director David Scott with the merger. Bankhall says that the move is an indirect result of the new environment created by the regulation of the general insurance and mortgage sectors.Hopwood, who was at Norwich Union for eight years before joining Bankhall, was considered for the IT and operations role ...

  • IFA banned over false review files

    27 Jan 2005

    The FSA has banned Michael Harding from acting as an IFA for submitting false documentation relating to his firm's pension review.

  • IFA Woman of the Year

    27 Jan 2005

    Heron House Financial Management adviser Saran Allott-Davey won the IFA Woman of the Year award 2004 at a ceremony in London's Docklands last week.

  • IFAs fear Eurolife rescue plan has collapsed

    27 Jan 2005

    IFAs fear that a rescue plan for Eurolife secured bond holders has collapsed, leaving investors more than 15m out of pocket.

  • Igroup relaunches GEM first charge mortgage range

    27 Jan 2005

    Igroup is enhancing its first charge mortgage product range as of January 31 2005.

  • In the long rung

    27 Jan 2005

    Our experts discuss initiatives to get first-time buyers on the housing ladder and whether confidence will return to the market.

  • In the scheme of things

    27 Jan 2005

    The well-known public company at which I work is changing its pension scheme and giving me three options. What should I do?

  • Independent view

    27 Jan 2005

    It has been said that financial advice concerns protecting and enhancing the financial position of a client.

  • Infinity Mortgages enhances specialist lending products

    1 Feb 2005

    Infinity Mortgages enhances its range to include a number of discounts to its specialist lending products.

  • Ingenious Asset Management - Directional Bond Fund

    27 Jan 2005

    Ingenious Asset ManagementDirectional Bond Fund

  • Investec offers discount on global fund

    31 Jan 2005

    Investec is offering 4 per cent commission on all advised lump-sum investments into the Investec global free enterprise fund until 31st December 2005. The fund is managed by Mark Breedon. It has out-performed the sector by 10.8 per cent, 24.7 per cent, 42.2 per cent, 33.65 and 46.3 per cent over one to five years respectively, to 31st December 2004, during which time it has remained in the top 10 funds, out of 157 in the sector.

  • Investment view

    27 Jan 2005

    The problem with having different inflation figures is you can use whichever suits your purposes, says Brian Tora.

  • Investor confidence is continuing to rise

    27 Jan 2005

    Private investors felt more positive about markets in December than for the last seven months, according to the Interactive Investor sentiment barometer.

  • Jelf profits rise 24%

    27 Jan 2005

    Profits at the Jelf Group rose by 24 per cent in its first set of preliminary results since listing on the Alternative Investment Market last October.The group made a profit of £880,000 in the year ended September 30 compared with £710,000 in 2003.Operating margins increased marginally to 9.3 per cent compared with 9.1 per cent despite a year of heavy investment in the firm.Jelf bought Pontin & Stein, a specialist private medical insurance business, in December ...

  • Julian Gibbs

    27 Jan 2005

    Paul Mumford, who manages the Cavendish opportunities fund, is one of only six managers to have beaten the FTSE 100 index every year for the past five years. Furthermore, his longterm performance is outstanding, up by over 240 per cent over the past 10 years.Cavendish has now decided to launch an entirely different type of venture capital trust. Its intention is to build value with a view to an exit after five years while distributing a modest income into an Oeic rather than distribute ...

  • L&G simplifies IHT planning

    28 Jan 2005

    Legal & Generals whole of life protection plan is a whole of life insurance plan designed as a simple product for inheritance tax planning.

  • Lawyers get GI market freedom

    27 Jan 2005

    Solicitors can introduce general insurance products to non-independent sectors of the adv-isory market under new guidelines from the Law Society.

  • Legal & General - Whole of Life Protection Plan

    27 Jan 2005

    Legal & GeneralWhole of Life Protection Plan

  • Legal takes wholesome approach

    28 Jan 2005

    Legal & GeneralWhole of Life Protection Plan

  • Lenders start rush to sign up brokers

    27 Jan 2005

    Lenders are increasing their efforts to tie or buy distribution, says Cartel managing director Carl Wright.

  • Liverpool Victoria signs up six partners to distribute CTF products

    1 Feb 2005

    Liverpool Victoria signs up six partners to distribute CTF products.

  • Lloyd George emerges with new Oeics

    1 Feb 2005

    Lloyd George Management, a specialist in Asian and emerging markets, has established five new Oeic funds for retail investors.

  • Lloyd George Management - LG Asian Smaller Companies Fund

    1 Feb 2005

    Lloyd George ManagementLG Asian Smaller Companies Fund

  • Lloyd George Management - LG Global Emerging Markets Smaller Companies Fund

    1 Feb 2005

    Lloyd George ManagementLG Global Emerging Markets Smaller Companies Fund

  • Making the online grade

    27 Jan 2005

    A new survey of e-commerce capabilities reveals wide disparities between providers' systems.

  • Morgan Stanley forecasts F&C outflow

    26 Jan 2005

    A report on F&C by Morgan Stanley has predicted an outflow of 3bn in assets under management this year, after suffering outflows of 4.7bn last year. A 25-page Morgan Stanley report said F&C has suffered following its merger with Isis last October. The Morgan Stanley report says unit trust sales moved from an 85 million net inflow in the first half of 2004 to a 44 million net outflow in the four months to October 2004. This week F&C announced the appointment of Brian Larcombe and Philip ...

  • Mortgages Direct hands over non-conforming business to Mortgage Times

    28 Jan 2005

    Mortgages Direct is handing over all its non-conforming business to Mortgage Times including sub-prime, buy-to-let and self-cert mortgages.

  • Multi_Manager view

    27 Jan 2005

    Despite the growing popularity of fund of fund investing, some advisers maintain that they are not the quick fix for asset allocation that investors may perceive them to be.

  • Nationwide Building Society - Two Year Tracker

    31 Jan 2005

    Nationwide Building SocietyTwo Year tracker

  • Nationwide's Stuart Bernau becomes new CML chairman

    27 Jan 2005

    Nationwide Building Society commercial and treasury director Stuar Bernau today becomes the chairman of the Council of Mortgage Lenders.

  • New Star warning on reviewing portfolios

    27 Jan 2005

    New Star Asset Management believes that individual inv-estors may be suffering significant losses because they are not regularly reviewing their portfolios.The firm carried out a survey in association with NMG among 617 investors regarding the frequency with which they review their portfolios.It found that 37 per cent of investors never review their investment portfolio and 14 per cent review them every two years or less. Only 21 per cent review their portfolio every six months ...

  • New venture to provide Islamic products

    26 Jan 2005

    Destini Financial Services has formed a joint venture with Legal Justice to provide UK Muslims with mortgage and protection products compliant with Islamic law. Destini Asian Life and Mortgages aims to offer Muslims a range of dedicated solutions. There is an introductory fee to external IFAs wishing to use the service.

  • NSPCC chief to be FOS chairman

    26 Jan 2005

    NSPCC chairman Sir Christopher Kelly has been appointed as chairman of the Financial Ombudsman Service. Kelly, a board member of the National Consumer Council and former permanent secretary at the Department of Health, was appointed along with five new non-executive members of the board. They are IFA Roger Sanders, HSBC senior manager Richard Hampton, Consumer Policy Institute director Caroline Banks, management consultant Julian Lee and retired PWC head of global risk management David ...

  • NU pension sales drop 10% after commission cut

    27 Jan 2005

    Norwich Union has seen pension business fall by 10 per cent since cutting commission last September.The fall put a dmaper on generally positive results for the firm, which last year saw life and pension sales increase by 9 per cent to £2.55bn from £2.37bn in 2003 on an annual-premium equivalent basis.For the first time, more than half of Aviva's business came from outside the UK, with the bulk of the business coming from Europe. Sales of UK inv-estment and savings ...

  • NU slashes 25% off WP bonuses

    27 Jan 2005

    Norwich Union has slashed annual bonus rates on its with-profits products by 25 per cent but remains upbeat on the outlook for the asset class.Bonus rates on its closed NULAP/CULAC funds, in which the majority of its three million policyholders are invested, were reduced from 4 per cent to 3 per cent, bringing them into line with rates on the £25bn CGNU fund, which is still open to new business. This equates to a payout of about £1bn to policyholders.NU has also reaffirmed ...

  • Old gold - Keith Popplewell

    27 Jan 2005

    In my last article, I began to look at recent and imminent developments in the pension world. Over the next few weeks, I intend to discuss the implications for clients in all the areas undergoing change (see table below) and identify how knowledgeable financial advisers can add value to these clients.

  • Out of context

    27 Jan 2005

    "I have to make all my business calls from the shed." - An IFA is forced outside by his wife.

  • Personal Touch Insurance renamed as Personal Touch Financial Services

    31 Jan 2005

    Press Release 28 January 2005 For immediate release

  • PFS wants crackdown on product marketing

    27 Jan 2005

    The Personal Finance Society is lobbying the FSA to tighten the way providers market their products to advisers.Members are increasingly concerned that there are few consequences for providers for their marketing of products to IFAs. Aifa is also in talks with the regulator on the issue.Members have raised concerns that they often have to identify potential problems they may face with products.The PFS gives examples of split caps, often marketed as "low risk", and precipice ...

  • Pink Home Loans launches branded lending with First National

    1 Feb 2005

    Pink Home Loans is launching a branded lending agreement with First National, a GE Company.

  • Plasma wakes up to bright future

    26 Jan 2005

    The Plasma Warehouse Group is an enterprise investment scheme that is looking to raise between 200,000 and 500,000.

  • Pointon York and Seven IM link up for corporate Sipp

    27 Jan 2005

    Pointon York Sipp Solutions is offering a corporate Sipp in conjunction with Seven Investment Management.

  • Portman BS relaunches core mortgage product range

    28 Jan 2005

    Portman Building Society has relaunched its core mortgage product rangee.

  • Portman Building Society announces 2004 results

    1 Feb 2005

    Portman Building Society announces its 2004 annual results today, showing an overall improvement on 2003.

  • Powerful incentives

    27 Jan 2005

    The Pensions Policy Institute website at www.pensions policyinstitute.org.uk is a mine of useful information and not just for people interested in high-level pension policy issues.

  • Present the evidence on Group 300

    27 Jan 2005

    An open letter to former directors of Network 300 and Group 300 from ex-members of Network 300.

  • Proc fee payment pledge

    27 Jan 2005

    Mortgages plc has enhanced its process for payment of procuration fees, saying payments will be dispatched to networks, packagers and brokers within 24 hours of completion.

  • Providers must face responsibilities

    27 Jan 2005

    The Personal Finance Society may have already found its big regulatory issue to lobby on.

  • Pru to help design multi-ties

    27 Jan 2005

    Prudential has signed a deal to help Tenet IFA network and Burns-Anderson design their multi-tie propositions. Tenet has over 3,500 advisers and has picked Pru because of its experience in developing multi-tie distribution platforms.

  • Pru to help design multi-ties

    26 Jan 2005

    Prudential has signed a deal to help Tenet IFA network and Burns-Anderson design their multi-tie propositions. Tenet has over 3,500 advisers and has picked Pru because of its experience in developing multi-tie distribution platforms.

  • Purchases down to 45% of loans

    27 Jan 2005

    Less than half of mortgage lending last year was for house purchase, according to new figures from the Council of Mortgage Lenders.

  • Rates drop on children's bonus bonds

    1 Feb 2005

    Rates on National Savings and Investments' next issue of children's bonus bonds is dropping from 4.45 to 4 per cent.The rate on the next tranche, launching on 1 February, reflects continued weakness in the gilt market. The rates had previously been at 4.45 per cent since August.

  • Regulation issue

    27 Jan 2005

    The mortgage industry needs to focus on ensuring that the public are fully aware of the big changes brought by regulation.

  • Reid all about it

    27 Jan 2005

    I have never been great fan of Tom Cruise, with the exception of A Few Good Men, where the courtroom drama builds to a crescendo and has parallels with the recent L&G vs FSA spat.

  • Remortgages boost savings

    27 Jan 2005

    A surge in individual savings of 130m has been put down to remortgagers who failed to spend the cash on home improvements or holidays.

  • Returns rocket for buy-to-let landlords

    27 Jan 2005

    Paragon Mortgages claims that landlords made total annual returns of over 31 per cent last year.

  • Saran Allott-Davey

    27 Jan 2005

    The new IFA Woman of the Year is determined to use her raised profile to encourage other women into the industry, believing they have natural skills which can help them excel as financial planners.

  • Schools to teach CII Certificate

    26 Jan 2005

    Six schools in the north of England will start teaching the Chartered Insurers Institute certificate in financial planning (one to five) from next September.

  • Score draw set to bring replays

    27 Jan 2005

    Money Marketing editor John Lappin assesses the implications of the financial services and markets tribunal ruling on the Legal & General appeal against FSA action.

  • See A specialist

    27 Jan 2005

    cchm:ping chairman Lucian Camp says financial services companies should only consider specialist agencies.

  • Sesame sets eConveyancer target

    27 Jan 2005

    Sesame Mortgages is setting itself a target of instructing more than 1,000 cases a month by the end of 2005 through its new eConveyancer system.

  • Ship Q4 sees record new business results

    31 Jan 2005

    Safe Home Income Plans is reporting record quarterly new business figures for the period ending December 31 2004.

  • Skandia reduces charges on Isa and Pep transfers

    27 Jan 2005

    Skandia has cut charges for Isa and Pep transfers to its investment platform in a bid to remain competitive in the sup-ermarket fight for assets.Skandia recently stopped offering re-registration for Isa and Pep transfers, saying it was unsustainably expensive but, as rivals Cofunds and FundsNetwork offer free re-registration to advisers, Skandia is aiming to make transfers to its platform more attractive.From February 21, Isa and Pep transfers will cost 3.5 per cent down from ...

  • Smooth operation

    27 Jan 2005

    Schroders business development director (UK finan-cial institutions group) Robert Noach advocates regular-contribution saving and asset allocation to ensure a smooth ride and believes this year could see a marked shift in the fortunes of the savings market.

  • Steve Bee on pensions

    27 Jan 2005

    I thought it would be useful to look at the Pensions Act 2004 and put down a brief summary of what is going on with it and what we can expect to happen next. A sort of story so far, if you like.

  • Sub-prime numbers

    27 Jan 2005

    With the property market slowing down, does the sub-prime sector offer an opportunity or a threat to brokers looking to diversify their business?

  • Sumus listing set to boost IFA numbers at Falcon

    27 Jan 2005

    IFA network Falcon is planning to increase its IFA membership by one-third through a successful Aim listing of parent Sumus.

  • Talkback

    27 Jan 2005

    Do you think Legal & General has come out on top in its legal dispute with the FSA over endowment misselling?

  • The Mortgage Operation - Capital Home Loans Prime Self Cert for Self Employed

    28 Jan 2005

    The Mortgage OperationCapital Home Loans Prime Self Cert for Self Employed

  • The whole truth

    27 Jan 2005

    Jason King's recent letter exemplifies the same arguments that were put forward in the 1970s, by the "buy a term and invest the rest" brigade who used bland figures to substantiate equally bland arguments. Term insurance was the foundation of all insurance but the foundation of life insurance and the concept of whole-life insurance acknowledged the fact that, contrary to Mr King's argument, many people get to retirement and find they have no life insurance cover and would dearly like ...

  • TMO sets up non-conform products

    27 Jan 2005

    The Mortgage Operation has set up two exclusive products aimed at the non-conforming market.

  • Torquil Clark acquires life insurance broker LifePolicies Direct

    28 Jan 2005

    Telford-based independent life insurance broker LifePolicies Direct has been acquired by Torquil Clark for an undisclosed sum.

  • Travis to lead Cavendish Young acquisitions

    27 Jan 2005

    Jeff Travis, principal of the Sesame Business Exchange has joined IFA Cavendish Young as sales and development director.

  • Treasury ponders 50-year gilt issues

    26 Jan 2005

    The Treasury is looking at new gilt issues of 40 to 50 years following a consultation involving investors and gilt-edged market makers by the Debt Management Office. Any announcement on the subject will be made in the Budget this spring.

  • UBS Ucits 3 fund offers 2.15% above base rate

    27 Jan 2005

    UBS Global Asset Management is to offer a Ucits 3 fund to UK investors.

  • UK bank staff are weak on products

    27 Jan 2005

    UK bank staff have the weakest specialist product knowledge in Europe and are the least interested in information given by clients that could lead to a cross-sale, says a report from Booz Allen Hamilton.

  • UK bank staff are weak on products

    26 Jan 2005

    UK banks are the worst in Europe at cross-selling financial services products according to a report from Booz Allen Hamilton. The report on enhancing revenue across Europes bank branch networks reveals UK banks staff had the weakest specialist product knowledge and were least interested in information proffered by clients that could lead to a cross-sale.

  • UK slips in European league of house price inflation

    28 Jan 2005

    The UKs longstanding position at the top of the European League of house price inflation ended last year, according to the Royal Institution of Chartered Surveyors.

  • Veritas Launches Global Income Fund

    31 Jan 2005

    Veritas, the fund management boutique set up by Newton founder Stewart Newton, is launching a global income fund, to be managed by James Harries.

  • Webline launch annuity comparison service

    31 Jan 2005

    Webline has announced the launch of its annuity comparison service with the backing of four major product providers.Norwich Union, Prudential, Friends Provident and Standard Life are supporting the new system while other providers are under development for forthcoming releases.Webline managing director Paul Holland says the system is the first fast and effective alternative to paper-based annuity quotation research.The system aims to ease the sales process while still providing ...

  • Who knows for whom the bell tolls?

    27 Jan 2005

    I read with interest the letter by Jason King, managing director of Life Policies(Money Marketing, January 20). I do not know where he gets his figures from but I am sure that Terence O'Halloran will put him right.I can only add, from my own personal experience, that my policy with Imperial Life (now part of Lincoln Financial Group), taken out with a sum assured of 120,000 initially (with automatic triannual increments for inflation without the need for further medical evidence), ...

  • Whole of life is not at fault, just the way it is sold

    27 Jan 2005

    The new year has started but it seems that nothing changes. The first edition of Money Marketing of 2005 had an article on whole-of-life plans, followed by a letter in the next edition from the inimitable Terence O'Halloran, who went a little over the top. I would make the following points.I have never yet had a client who has told me exactly when he or she is going to die, which makes arranging term life cover a little difficult.In the main I recommend these plans on a standard ...

  • Widows and Clerical in MVR moves

    27 Jan 2005

    Scottish Widows and Clerical Medical will write to thousands of their with-profits policyholders this year for the first time informing them of upcoming MVR-free windows.

  • Your Health Plus

    28 Jan 2005

    Your Health Plus is holding two information seminars to introduce itself to brokers and IFAs following its launch in December 2004.

  • Zurich in pension probe over IRP sales processes

    27 Jan 2005

    Zurich is facing another pension probe over selling higher-charge policies when stakeholder products could have been more suitable.The firm claims that it notified the FSA of its concerns over pension sales processes. The regulator is making Zurich review all Allied Dunbar individual retirement plans sold between September 2002 and April 2004 after concerns that salespeople were not adhering to a revised IRP sales process that was introduced in 2002 to combat problems.Zurich ...

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