Money Marketing
26 March 2008

  • 100 More FSA staff to monitor banks

    27 Mar 2008

    The FSA is expected to recruit up to an extra 100 staff to monitor the big banks in a bid to avoid another Northern Rock debacle. The FSA publishes the results of an internal investigation this week into how it handled the Northern Rock debacle.

  • Adviserzone the corporate agenda

    1 Apr 2008

    Personal accounts may be at least four years away, but employees are starting to wake up to the issues the new policy will pose for flexible benefits

  • Intra-day details could bring a structured shock

    27 Mar 2008

    With markets acting the way they have been, it is little wonder that interest in capital-protected products has revitalised somewhat in recent months and weeks.

  • One in 10 to stop paying into pension

    27 Mar 2008

    One in 10 pension savers will stop or reduce their contributions over the next 12 months due to the market volatility, according to research from private client portfolio manager Brewin Dolphin.

  • 57 % residential mortgages on fixed rates, says L&G

    31 Mar 2008

    Legal & General’s quarterly index has found that 57 per cent of residential mortgages were on fixed rates compared to just 35 per cent for buy to let.

  • 7IM offers four passively managed Oeic funds

    1 Apr 2008

    Investment management firm 7IM has launched a set of four passively managed Oeic funds available via its Tethys platform.

  • 8.4% Annual return on RoyLon endowment

    27 Mar 2008

    Royal London has increased the final bonus rates on some of its with-profits policies.

  • A different blueprint

    27 Mar 2008

    No one can be in any doubt that sentiment towards commercial property in the UK has taken a severe knock over the past six months. This has led some to suggest that we are heading towards a recession and property downturn similar in scale to the 1990s crash.

  • A dynamic plan from DDQ

    27 Mar 2008

    Dawnay Day QuantumProtected Agricultural Dynamo

  • A shaw thing

    27 Mar 2008

    Sam Shaw is a reporter on Money MarketingIn a very non-Shaw fashion, I have managed to abstain from a number of social engagements over the last week. I started by blaming Alistair Darling for sapping the energy from MM's newsdesk last week but then realised I was also saving myself for a weekend in Madrid to celebrate the birthday of PR queen Ali Merrigan from Lansons and a gaggle of other girlies. As a result of the Budget and said weekend, I unfortunately missed ...

  • Abbey adviser fled after £300k fraud

    27 Mar 2008

    An Abbey banking adviser suspected of a massive fraud fled the country following a bank audit before returning to face arrest, a court heard.

  • Accord withdraws fixed rates

    1 Apr 2008

    Accord has withdrawn some prime fixed rate products and says not all products will be replaced.It also says that replacement products will not be immediately available.It will be withdrawing its three year and five year fixed rates with a 1.5 per cent fee.It will also be withdrawing its three and five year fixed rate remortgage products with a 1.5 per cent free.Its three and five year fixed rate remortgage products with a £995 fee have also be withdrawn.

  • Actuaries warn on group Sipp choice

    27 Mar 2008

    Watson Wyatt is warning employers to take particular care when choosing a group Sipp provider as a means to take the maturing proceeds of ShareSave arrangements.

  • Adewale quits Mint and starts up new network next door

    27 Mar 2008

    Former Mint founder and executive chairman Andy Adewale has left the firm to set up his own network in a neighbouring office.

  • Aegon adds to adviser and client flexibility

    1 Apr 2008

    Aegon Scottish Equitable is adding a range of alternative charging models to its group Sipp so it can suit all advisers' charging structures.

  • AIFA calls for greater transparency on guidance

    1 Apr 2008

    AIFA has called upon the FSA to give greater transparency to IFA firms on the use of guidance in place of rules based regulation.

  • AIG on hunt for more top signings to lead IFA push

    27 Mar 2008

    AIG is looking to recruit more protection specialists as it focuses on the UK advisory market.

  • Alarm as watchdog bares its teeth

    27 Mar 2008

    The Financial Ombudsman Service has sent out a warning to the mortgage industry that it will make significant awards to customers who have been missold homeloans.

  • Allianz explores Grassroots if agriculture

    28 Mar 2008

    Allianz Global Investors has brought the RCM global agricultural trends fund to the UK market to complement its Bric and eco trends funds

  • Almost 60% expect to own first home by 30, says A&L

    26 Mar 2008

    Over half of 20-somethings expect to own their own home by age 30, says Alliance & Leicester.

  • AMII to vote in new chairman at next AGM

    1 Apr 2008

    The Association of Medical Insurance Intermediaries will vote in its new chairman at the body's annual general meeting this month.

  • An approach that will stand up

    1 Apr 2008

    Amid the doom and gloom there are reasons to suppose that the industry will pull through in good shape

  • Annual house price growth lowest since March 1996

    28 Mar 2008

    The annual rate of house price growth is at its lowest rate since March 1996, according to Nationwide.

  • Annuities to fall if base rate is reduced

    27 Mar 2008

    Consumers should buy annuities now, according to Defaqto. It says if there are reductions in bank base rate as predicted, then annuity rates are likely to come down.

  • Aviva CEO joins Pru as head of finance

    27 Mar 2008

    Former Aviva Europe chief executive officer Tidjane Thiam has joined Prudential this week as chief financial officer. Thiam joins the Pru board with immediate effect.

  • AWD UK profits slump due to credit crunch

    31 Mar 2008

    AWD Group has blamed profit losses of €3.5m in the UK last year on financial turbulence in the markets.

  • Axa Framlington bolsters emerging markets team

    26 Mar 2008

    Axa Framlington has appointed Neil Denman as a fund manager on the group’s emerging markets team.

  • Axa nears completion of SBJ Group acquisition

    1 Apr 2008

    Acquisitive insurer Axa has almost completed the full acquisition of SBJ Group, with more than 90 per cent of shareholders accepting its offer.

  • Barclays Capital - Ecological Trio Deposit Account

    27 Mar 2008

    Barclays CapitalEcological Trio Deposit Account

  • Barclays Global Investors -iShares JPMorgan $ Emerging Markets Bond

    27 Mar 2008

    Barclays Global InvestorsiShares JPMorgan $ Emerging Markets Bond

  • Barclays Global Investors -iShares S&P Emerging Markets Infrastructure Fund

    27 Mar 2008

    Barclays Global InvestorsiShares S&P Emerging Markets Infrastructure fund

  • Big rise in Liontrust profits

    27 Mar 2008

    Liontrust Asset Management has seen its funds under management fall from £5.5bn to £4.49bn. Overall profits leapt to £6.1m from £1.3m.

  • Blackwell to leave A&L in April

    31 Mar 2008

    Alliance & Leicester has announced that its intermediary head of sales Mark Blackwell has been made redundant from the lender after just four months in the role.

  • Boutiques close in on big brands

    27 Mar 2008

    Boutiques are beginning to replace big investment firms on advisers' buy lists as they turn in top performance.

  • Breeding Capital - Breeding Capital EIS II and III

    27 Mar 2008

    Breeding Capital Breeding Capital EIS II and III

  • Brokers face £625m hit on proc fees

    27 Mar 2008

    Edeus is warning that the cre-dit crunch could see up to £625m wiped off the total income potential for mort- gage advisers.

  • Bupa announces protection workshops

    27 Mar 2008

    Bupa is hosting a series of protection workshops in April to coincide with the launch of its new income protection product.

  • Bush and Brown to set up regulatory working group

    31 Mar 2008

    Gordon Brown and George Bush are to set up a UK-US working group which will develop proposals to monitor and regulate banks with cross-border interests according to the Financial Times.

  • Buy to let set to stay steady

    27 Mar 2008

    The buy-to-let market will stay steady this year, according to the Great Housing Market Debate panel.

  • Call for FSA action on execution-only transfers into Sipps

    1 Apr 2008

    Transfers on direct execution only basis from defined benefit schemes to SIPPs are not appropriate and should be outlawed, says Hazel Carr.

  • Capital gainers and losers

    1 Apr 2008

    Changes to Capital Gains Tax have been at the centre of furious debate since the chancellor unveiled them in the pre-Budget report six months ago. Sonia Speedy finds out what it all means for the personal finances of corporate executives.

  • 'CAR negates role of regulated networks'

    27 Mar 2008

    Standard Life argues that customer-agreed remuneration would negate the role of "commission club" regulated networks.

  • Cardif buys Direct Life & Pensions

    27 Mar 2008

    Cardif Pinnacle has bought Direct Life & Pensions in a bid to boost its protection business.

  • Charcol bosses plug gap

    28 Mar 2008

    After months of waiting for John Charcol to file its overdue 2006 accounts, Money Marketing revealed this week that the broker’s directors have stumped up £1.5m to plug a hole in them.

  • Charcol directors pay £1.5m to fill cash gap

    27 Mar 2008

    John Charcol directors have stumped up £1.5m to plug a hole in the company's accounts after its auditor KPMG warned of "material uncertainty" of the firm continuing as a going concern.

  • Charcol directors pay £1.5m to fill cash gap

    26 Mar 2008

    John Charcol directors have stumped up £1.5m to plug a hole in the company's accounts after its auditor KPMG warned of "material uncertainty" of the firm continuing as a going concern.

  • CHL Mortgages to axe 50 staff

    27 Mar 2008

    CHL Mortgages is cutting up to 50 of its workforce of 250. It is focusing on credit quality and margins.

  • Click is first for Officeweb CRM system

    27 Mar 2008

    The Exchange is offering a new call-centre customer relationship management system based on its Officeweb back-office technology.

  • Commission pledge for packager failure

    27 Mar 2008

    Sesame has introduced a new packager panel and says it will guarantee advisers' commission in the event of a packager failure.

  • Communicate now

    1 Apr 2008

    GPPs need to provide better tools to communicate the benefits of their pensions if they are to see employee resistance to levelling down, reports Ian McKenna, director of the Financial Technology Research Centre

  • Compelling value

    1 Apr 2008

    Each month we bring you the opinions of the managers of the funds most likely to be selected for pension portfolios through external fund links or Sipps. This month - paul causer's invesco perpetual corporate fund

  • Concession on non-dom tax levy calms anger

    1 Apr 2008

    Concessions on the Chancellor's proposals to levy new taxes on wealthy non-domiciled foreigners have gone some way to calm anger against the moves.

  • Corporate Adviser web site now live

    1 Apr 2008

    Corporate Adviser goes online this month with the launch of our new website at www.corporate-adviser.co.uk.

  • Corporate pension savers hit by Budget changes

    1 Apr 2008

    Corporate pension savers will have to increase their contributions to maintain the same level of benefits following the changes to income tax confirmed in the Budget.

  • David Carr

    27 Mar 2008

    David Carr, chief executive of pension administrator and provider Hazell Carr, is not your typical executive. He has been known to take a six-month sabbatical to study philosophy and has polar exploration in his sights but the business he helped to establish is clearly not suffering.

  • Defaqto enhances its suitability letters capability

    27 Mar 2008

    Defaqto has improved suitability letters within its Aequos Engage software by incorporating a new type of document software.

  • Defined benefit schemes continue to fall in popularity

    1 Apr 2008

    The popularity of defined benefit schemes is continuing to decline while employers are demonstrating an ongoing annoyance, frustration and cynicism associated with government intervention according to a survey by Buck Consultants.

  • Dring leaves Goldsmith Williams

    27 Mar 2008

    Goldsmith Williams sales and marketing director Alan Dring is to leave the firm after just four months.He will be leaving on March 31.Goldsmith Williams says Dring is leaving by "mutual consent" to explore other opportunities in the mortgage market.Senior partner Eddie Goldsmith says: “We’re sorry that our working relationship with Alan did not work out as either of us had hoped it would, but we wish Alan well for the future.”

  • Edwards wants to cross the t's for tele standards

    27 Mar 2008

    Bright Grey product director Roger Edwards is calling for common definitions of tele-underwriting methods to remove confusion.

  • Employers' shares will be sold, say experts

    1 Apr 2008

    Alistair Darling's 2008 Budget has reduced the incentive for some employees in share plans to hold onto employers' shares say experts.

  • Enjoy the ride

    1 Apr 2008

    With the shadow of recession stalking global markets, Paul Farrow assesses how pension investors should tailor their portfolios

  • Equitable Life still looking for a buyer

    27 Mar 2008

    Equitable Life chairman Vanni Treves says the society has reached an important crossroads and is still looking for a buyer but could happily remain as a stand alone business.

  • Equitable will not turn suitors away if they come a-wooing

    27 Mar 2008

    Equitable Life chairman Vanni Treves says the society has reached an “important crossroads” and is ready to look for a buyer.

  • Escrow call for FOS case charges

    27 Mar 2008

    The IFA Defence Union is calling on the FOS to allow advisers to set up escrow accounts so case fees are returned if the FOS loses its appeal in the Pickering case.

  • 'ETFs are sharp tool that could harm unwary investors'

    27 Mar 2008

    Multi-asset funds are the best way for retail investors to hold exchange-traded funds in their portfolio, says City Financial.

  • Express route to 10% added commission

    27 Mar 2008

    Advisers using LV='s express route to apply for protection products will get an extra 10 per cent commission.

  • FAS pensioners will get higher rate tax break

    31 Mar 2008

    Work and Pensions Secretary James Purnell has today confirmed that anyone getting a payment via the Financial Assistance Scheme will not necessarily have to pay higher rate tax.

  • Firm fined for misleading FSA

    27 Mar 2008

    The FSA has fined Blake Independent Financial Services £31,500 for failing to maintain adequate capital and provid- ing misleading financial information.

  • Flight to interest-only as payment shock hits

    27 Mar 2008

    Borrowers are expected to switch to interest-only loans to avoid the worst effects of the payment shock as their fixed deals come to an end.

  • Free equity-release advice in joint deal

    27 Mar 2008

    Retirement Plus is testing a joint-venture equity- release service with Stroud & Berkeley Group, Gloucestershire Primary Care Trust and AWD Chase de Vere Wealth Management. It will offer free, independent equity release advice.

  • Friends Provident International adds more New Star funds

    28 Mar 2008

    Friends Provident International has made two more New Star funds available through its Premier, Premier Ultra, Elite and Zenith products.

  • Friends Provident rejects JC Flowers bid

    31 Mar 2008

    Friends Provident has rejected a £3.5bn offer from private equity group JC Flowers.

  • FSA concerned over complexity and cost of platforms

    31 Mar 2008

    The FSA has published feedback to its discussion paper on platforms which highlights concerns it has over the complexity and cost to consumers of using platforms.

  • FSA finds areas of non-compliance with arrears rules

    31 Mar 2008

    The FSA has found areas of non-compliance by firms with arrears rules as part of the second stage of its mortgage effectiveness review.

  • FSA given new powers to crack down on market abuse

    28 Mar 2008

    Alistair Darling is set to give the FSA new powers to offer City whistleblowers lesser sentences or immunity from prosecution in return for information on market abuse.

  • FSCP disappointed over lack of independent input into FSA review

    26 Mar 2008

    The Financial Services Consumer Panel says it is disappointed that there had not been more independent input into the FSA's internal review of Northern Rock.

  • FTB tax relief could distort the market

    27 Mar 2008

    The Government should not offer mortgage tax relief for first-time buyers as it would distort the market, according to the Great Housing Market Debate panel.

  • Get engaged with staff

    1 Apr 2008

    The approach of personal accounts means employee engagement in pensions is now as important for advisers as it is for employers. James Phillipps checks out the latest thinking on how to get staff to connect

  • Get on the right frequency

    27 Mar 2008

    Real e-commerce success stories are not as common in this industry as they might be.

  • Global role for Hogbin at Currie

    27 Mar 2008

    Ex-Credit Suisse director of product development Toby Hogbin is joining Martin Currie as global head of product development.

  • Government called on to identify risk groups

    27 Mar 2008

    The Government is being urged to evaluate the impact of means-testing on pension personal accounts and improve the incentives for groups at risk of being worse off.

  • Govt launches consultation to update Myners principles

    1 Apr 2008

    The Government says it will launch a consultation on updating the Myners principles in response to the National Association of Pension Fund's recommendations.

  • Green banner no longer an excuse for mixed performance

    27 Mar 2008

    More than half of the IFA community will no longer tolerate a performance lag from green funds according to research from Virgin Money.

  • Growing potential

    27 Mar 2008

    Market turmoil seems to be having an interesting impact on clients. Demand for the middle ground of investment, as represented by core developed market equity funds, has generally disappeared. Clients seem to be at one of two extremes. Cash or very cautious total return funds are at one end and racy aggressive funds, especially Russia, China and commodities, at the other. Both these extremes have a strong investment case.

  • Growing structure

    27 Mar 2008

    Britain's appetite for structured products has grown significantly over the past few years.

  • Guiding light

    1 Apr 2008

    The son of a Norwegian merchant navy man who has risen to the role of chief executive of Aegon UK, Otto Thoresen is the man at the tiller of the project to get Britons saving. John Greenwood reports

  • Guinness Asset Management - Alternative Energy Fund

    27 Mar 2008

    Guinness Asset ManagementAlternative Energy Fund

  • Hay wrap is our partner

    27 Mar 2008

    I used to agonise on making decisions on providers for clients. I could not accept the concept of putting them in a managed fund and moving on to the next sale.

  • HBOS promotes Stockton and Grant

    26 Mar 2008

    HBOS has promoted intermediary distribution and specialist banking managing director Philip Grant to chief operating officer of its corporate division.

  • HBOS show of faith pays off

    27 Mar 2008

    HBOS chiefs bought nearly £6m worth of the bank's shares last week after the stock's price fell sharply following false rumours of financial difficulties.

  • Hewitt buys New Bridge St

    1 Apr 2008

    Hewitt Associates is buying New Bridge Street Consultants, an executive compensation consultancies.

  • Higher cash levels won't cut misselling

    27 Mar 2008

    Only one in five advisers think the introduction of increased capital adequacy levels will reduce misselling with the majority believing it will have no impact.

  • House purchase loans up slightly in February, says BBA

    27 Mar 2008

    House purchase mortgages were 43,870 in February, up slightly from 43,732 in January, says the British Bankers’ Association.

  • Hudson-Lund in for Eppinger at IFDS

    27 Mar 2008

    Simon Hudson-Lund is succeeding Charlie Eppinger as chief executive at International Financial Data Services. Currently chief operating officer, Hudson-Lund joined IFDS in 2003 as managing director.

  • Hunting for protection heads

    1 Apr 2008

    AIG is understood to be headhunting more protection specialists as it focuses on the UK advisory market.

  • IFA Consortium to repeat industry think tank in Rome

    27 Mar 2008

    IFA Consortium will be hosting its key adviser forum in Rome this year in September.

  • IMA stats see end to outflows

    1 Apr 2008

    Funds under management in the UK saw an upturn for the first time in three months according to the latest figures from the Investment Management Association.

  • In sickness and wealth

    1 Apr 2008

    SMEs can face serious problems if key staff fall ill or die. Business protection is not as complicated as you might think - and providers are more than happy to help you through the process, says Edmund Tirbutt

  • Interbank rates aggravated by Northern Rock cash flow, says Ward

    28 Mar 2008

    New Star economist Simon Ward says the upward pressure on interbank interest rates has been aggravated by a flow of cash back to Northern Rock.

  • Interglobal focuses on wellness and wellbeing

    1 Apr 2008

    InterGlobal, the international private medical insurer, has upgraded its plans by adding multiple new benefits that focus on wellness and wellbeing.

  • JO Hambro shuts American growth

    27 Mar 2008

    JO Hambro Capital Management fund manager Nick Roe-Ely is set to leave the company following its decision to close his £13m American growth fund.

  • L&G builds Sipp share in £62m Suffolk Life deal

    27 Mar 2008

    Legal & General is buying Suffolk Life for £62m in a bid to increase its share of the self-invested personal pension market to 10 per cent.

  • L&G to launch dynamic bond fund to retail market

    28 Mar 2008

    Legal and General is launching its dynamic bond into the retail market.

  • Legal and General ploughs into Suffolk

    1 Apr 2008

    Legal & General has strengthened its position in the Sipp market with the acquisition of Suffolk Life for 62m.

  • Lehman Brothers - Enhanced Fixed Returns Plan Issue 3

    27 Mar 2008

    Lehman BrothersEnhanced Fixed Returns Plan Issue 3

  • Lehman Brothers set to suspend UK lending

    31 Mar 2008

    Lehman Brothers is expected to announce that it has closed its two UK subsidiaries, SPML and Preferred, today.This comes after rumours were rife yesterday that the investment bank was consulting on whether it will suspend lending at its two UK subsidiaries.A source close to the firm yesterday said that this is one of the options it is considering but could not give any further detail.

  • LibDems say FSA review into Northern Rock is a "cop out"

    26 Mar 2008

    The Liberal Democrats have branded the FSA's claims that the Northern Rock debacle might have arisen even with better regulation as a "total cop out".

  • Lifetime wrap still uncertain on relaunch date

    27 Mar 2008

    The new managing director of Norwich Union's Lifetime wrap has refused to confirm whether it will be opened to new users this year.

  • Light touch rockulation

    28 Mar 2008

    One could wisecrack about how the only actual practical example of light touch regulation turned out to be light touch rockulation. One might demand that the FSA instead of politicking, spinning, manipulating and indeed reinventing the wheel and of course reinventing the model just got on with the day job of regulating. It has clearly not been doing that so well.

  • Market malaise makes case for diversification

    27 Mar 2008

    Diversification in a client's portfolio is key in establishing an investment strategy to deliver over the longer term, especially in times of market turmoil.

  • Means test is break point for pensions

    27 Mar 2008

    Conservative Shadow pensions minister Nigel Waterson believes the growth of means-testing has made pensions a risky business for advisers and the introduction of personal accounts will only add complexity.

  • MetLife cuts annual fee for trustee plan clients

    27 Mar 2008

    MetLife is reducing the ann- ual management charge of its trustee investment plan from 0.95 per cent to 0.5 per cent for all new and existing customers.

  • MetLife rues lack of level playing field on bonds

    26 Mar 2008

    Metlife Europe says advisers should not ignore the benefits of unit trusts for income investors and clients seeking to mitigate inheritance tax.

  • MI website features valuations

    27 Mar 2008

    Merchant Investors has set up a new website for advisers as part of its rebranding.

  • Midas redesigns website

    27 Mar 2008

    Midas Capital says its revamped website received 14,460 hits on February 12, the day it announced its merger with Miton Asset Management.

  • Money Marketing Markets: Light at the end of the tunnel?

    28 Mar 2008

    Another short but eventful week in the markets has seen the FTSE 100 gain 4 per cent.

  • Money Portal purchase of B-A completes

    27 Mar 2008

    Money Portal's £14.2m purchase of Burns-Anderson completed yesterday as the group received its green light from the FSA.

  • Moneycorp widens forex operations

    27 Mar 2008

    Foreign exchange company Moneycorp is opening two new offices in Portugal and Turkey.

  • More education needed for IHT says Close

    1 Apr 2008

    Close Investments claims more education and information about inheritance tax is required if people are going to fully understand its implications.

  • MorganAsh starts tele-interviews with protection claimants

    27 Mar 2008

    Protection outsourcing company MorganAsh will begin tele-interviews on claims from next month in a move which is expected to speed up the payment of claims significantly.

  • Mortgage lending falls by 6%

    27 Mar 2008

    Gross mortgage lending fell to around £24bn in February, down by 6 per cent from £25.6bn in February 2007.

  • Mortgages Plc to withdraw all fixed-rate products

    31 Mar 2008

    Mortgages plc has announced it is withdrawing all of its fixed rate products in a move designed to control new business volumes.

  • MortgageWorks quits 100% loans

    27 Mar 2008

    The Mortgage Works has become the latest lender to withdraw from the 100 per cent loan to value market. It is capping self-cert and buy to let at 75 per cent LTV.

  • Nationwide alters application deadline after third party service failure

    28 Mar 2008

    Nationwide has confirmed it is to extend its application deadline to today after intermediaries experienced difficulties accessing its website and submitting cases online.

  • NatWest International launches structured deposit account

    1 Apr 2008

    NatWest International is offering investors a guaranteed structured deposit account which provides protected capital and a diversified portfolio.

  • Network Data deal answers rising client demand for PMI

    27 Mar 2008

    Network Data has signed a deal with private medical insurance introducer PMI Partners.

  • Network Data Holdings sees £1.1m loss

    1 Apr 2008

    Network Data Holdings Group has seen a pre-tax loss of £1.1m in 2007 against a profit of £0.3m in 2006 as a result of the delay in Home Information Packs.

  • New banking code aims to improve TCF

    31 Mar 2008

    The new banking code has come into effect today which contains promises by banks and building societies to treat customers fairly and reasonably.

  • New Star sees £3bn outflows

    27 Mar 2008

    New Star is looking to build on its emerging market offering after its Heart of Africa fund grew to £52m in the first five months.

  • New Stars and old scars

    26 Mar 2008

    Just when you think nothing coming from within the offices of New Star Asset Management will surprise you anymore, lo and behold the firm bowls a ball with so much spin on it that it would make Shane Warne proud.

  • Newbuild starts plummet by 40%

    27 Mar 2008

    Newbuild starts fell by 40 per cent in January.

  • Northern Rock sees loss of £167.6m in 2007

    31 Mar 2008

    Northern Rock saw a statutory loss before tax of £167.6m, down from 2006's £626.7m profit, it has revealed in its full year results today.

  • 'Offshore crackdown breaches English law'

    27 Mar 2008

    HM Revenue & Customs is turning the English legal system on its head by demanding information from thousands of offshore bank accountholders, claims tax accountant PKF.

  • On the transfer list

    27 Mar 2008

    The Budget was low on shocks but let us not forget what went before. Considered as a whole, the pre-Budget report, the Budget and everything in between have delivered quite fundamental change. Just because it did not all get announced on one day does not make it any less important.

  • Only 10% of advisers would opt to sell primary products

    27 Mar 2008

    Just 10 per cent of advisers would consider becoming a primary adviser selling a limited range of products.

  • Paragon's total advances down 50% from H1 2007

    31 Mar 2008

    Paragon’s total advances for H2 2007 are expected to be 50 per cent less than in the first half of 2007, it has revealed in its pre-close trading statement.

  • Passive resistance

    27 Mar 2008

    Industry anecdotes suggest that IFAs are moving to passive income streams and away from a reliance on initial commission but research from True Potential tells a different story.

  • Paternoster secures pension assets of Morrison Bowmore Distillers

    28 Mar 2008

    Paternoster has taken on the assets of the pension fund of Morrison Bowmore Distillers.

  • Pension sales strength underpins Winterthur

    27 Mar 2008

    Winterthur saw a 22 per cent rise in individual pension new business last year from £1.6bn to £1.9bn.

  • Personal accounts are 'unattractive' to women

    27 Mar 2008

    Baroness Patricia Hollis of Heigham believes the Government is failing to make personal accounts attractive, particularly to women.

  • Plans to pass test

    27 Mar 2008

    Raising the trivial commutation limit and introducing a pension income disregard were two means-testing solutions put forward at the Pensions Policy Institute seminar last week.

  • 'Platforms won't boost distribution for firms'

    27 Mar 2008

    Transact managing director Ian Taylor says it is wrong for asset management companies to assume that they can gain a greater share of distribution by launching their own platforms.

  • Poll puts banks as the big winners from RDR

    27 Mar 2008

    Only one in three advisers are in favour of the retail distribution review proposals, with fee-based advisers significantly more positive about its introduction than commission-based advisers.

  • Potter and Burdett hold on to cash in cautious equity stance

    27 Mar 2008

    Thames River co-heads of multi-manager Gary Potter and Robert Burdett are set to continue adopting a cautious outlook on equities, preferring to hold higher levels of cash and other asset classes.

  • Premier ditches search for MD

    27 Mar 2008

    Premier Mortgage Service is no longer looking for a successor for current managing director John Malone.

  • Pressure forcing lenders into product withdrawals

    27 Mar 2008

    Council of Mortgage Lenders director general Michael Coogan admits that recent action by lenders in withdrawing so many products has damaged the market.

  • Pressure points

    27 Mar 2008

    The global economic picture continues to fascinate and four questions are central to the outlook. First, how impaired will the banks prove to be? Second, what will the world's monetary authorities do to ease the pressure? Third, how will the corporate sector react to more straitened times and, fourth, who will emerge as provider of end demand to the world, now that the US consumer is taking a rest?

  • Product matters

    27 Mar 2008

    Several providers have recently become new entrants to the business protection market in an attempt to expand their market share.

  • Property liquidity issues were not recognised

    27 Mar 2008

    The vast majority of advisers believe investors did not understand all the liquidity issues over property funds before the current market downturn.

  • Pru and Nationwide team up on AVC monies

    1 Apr 2008

    Prudential and Nationwide are entering into a strategic partnership to offer pension scheme trustees the facility to transfer their AVC monies, on deposit with Nationwide toPrudential's AVC Deposit Fund.

  • Pru targets UK expats with tax-efficient offshore bond

    27 Mar 2008

    Prudential International is offering a new single-premium offshore portfolio bond.

  • Recession is biggest threat to investment confidence

    27 Mar 2008

    A recession is the biggest threat to the finances of active investors or the general public, says the Association of Investment Companies.

  • Reluctance to study to be a GFA

    27 Mar 2008

    Over a fifth of advisers say they would not be prepared to study for qualifications to become a general financial adviser.

  • Restructure brings new chief for Home of Choice

    27 Mar 2008

    Home of Choice chief executive Richard Coulson is to become the network's executive deputy chairman following a series of board changes.

  • Review finds FSA’s handling of Northern Rock was not acceptable

    26 Mar 2008

    The FSA’s internal audit division has identified four key failings which contributed to the regulator’s failure to prevent the Northern Rock crisis.

  • Rock regulator Briault leaving FSA with £380k

    27 Mar 2008

    FSA managing director Clive Briault is to leave the regula- tor in the aftermath of the Northern Rock debacle with a £380,000 payoff.

  • Roe-Ely to leave JOHCM

    26 Mar 2008

    JO Hambro Capital Management fund manager Nick Roe-Ely is set to leave the company following its decision to close his £13m American growth fund.

  • Royal London profits fall 58 per cent

    28 Mar 2008

    Royal London blamed market turbulence for a 58 per cent fall in European Embedded Value profit which fell from £431m in 2006 to £181m last year.

  • Share and share alike

    1 Apr 2008

    Employee share plans are popular with staff. Making sure you recommend the right one can pay employers handsome dividends, reports Nick Golding

  • Shepherd's departs from MPPI herd

    27 Mar 2008

    Shepherd's Friendly has launched a mortgage payment protection insurance product that differs from other policies in providing up to five years of cover compared with the usual 12 months.

  • Simple truth

    27 Mar 2008

    What did the rest of the year have in prospect, mused the chairman of the curiously named Betelgeuse Investment Funds? Private investors had remained cautious after the bumpy end to 2007 and were still dumping equity funds. Property remained in the doldrums and even that recent saviour of fund sales teams - commodity-based products - had had wobbles recently.

  • Sipp building

    27 Mar 2008

    I have several personal pensions, some separate share investments and an investment property. How can I use a self-invested personal pension to invest in the shares and the property?

  • Skandia does the double in SimplyBiz awards

    27 Mar 2008

    Skandia has been named provider of the year and best overall service provider at the SimplyBiz 2008 Partnership Awards.

  • Skipton takes over Torquil Clark

    27 Mar 2008

    Skipton Building Society Group has bought an 86 per cent shareholding in Torquil Clark in a bid to strengthen its financial advice offering.

  • Small firms turning to specialist protection providers

    27 Mar 2008

    CBK Colchester principal Peter Chadborn believes that smaller advisers will increasingly opt to use specialist protection providers because they are being neglected by the major players.

  • SME employers encourage healthier lifestyles, says Standard Life report

    1 Apr 2008

    One in two bosses of small businesses claim to encourage employees into healthier lifestyles and say that it reduces days off sick and improves staff loyalty, according to a new survey.

  • Societies ponder swoop for Derbyshire

    27 Mar 2008

    Rival building societies are understood to be circling Derbyshire Building Society for a possible takeover.

  • Spring forth

    27 Mar 2008

    The Easter break heralds the start of spring. As Wikipedia says, spring is seen as a time of growth, renewal and new life being born. The term is also used as a metaphor for the start of better times. People change jobs and the lighter days result in more time to househunt which may please the mortgage lenders as the CML figures show that gross mortgage lending fell to around £24bn in February, down by 7 per cent from £25.9bn in January.

  • Standard & Poor's downrates Fidelity UK special sits fund

    27 Mar 2008

    Standard & Poor's has drop- ped its long-term outlook for Fidelity's £2.8bn UK spe- cial situations fund to an A rating.

  • Stroud & Swindon temporarily withdraws mortgage range

    27 Mar 2008

    Stroud & Swindon Building Society is temporarily withdrawing its mortgage range today.It says it will relaunch a new range on March 31.In an email to brokers it says that its current range is being withdrawn with immediate effect. Stroud & Swindon says that faxed applications will not be accepted.

  • Sweet surrender

    27 Mar 2008

    The EEA life settlements fund has risen for 26 consecutive months. It is a low-risk uncorrelated investment solution which aims to return 8 per cent each year.

  • Swift to cut up to 60 jobs

    28 Mar 2008

    Swift has announced that it is in consultation with 60 staff regarding possible job losses.

  • Swings and roundabouts

    1 Apr 2008

    As the economic gloom intensifies, its effect on corporate pension advisers is mixed, with winners and losers across the industry, writes John Greenwood

  • Symponia launches care fees recruitment service

    27 Mar 2008

    Symponia is launching a care fees planning recruitment consultancy.

  • T.Bailey link provides another WAY

    27 Mar 2008

    The Way Group has appointed T.Bailey fund manager Jason Britton to run its first fund in a range of multi-asset portfolios.

  • Tactica Fund Management UK - S&W Tactica Cautious Portfolio

    28 Mar 2008

    Tactica Fund Management UKS&W Tactica Cautious Portfolio

  • Tactica puts its mark on multi-asset

    27 Mar 2008

    Tactica Fund Management UKS&W Tactica Balanced Portfolio

  • Tenet video move to cut carbon footprint

    27 Mar 2008

    Tenet is introducing video-conferencing between its Leeds and Andover sites to reduce its carbon footprint.

  • Testing times for Mint

    27 Mar 2008

    Mint Financial Services has adopted a web-based testing tool from software provider The Coaching Platform in order to help it cope with the demands of the retail distribution review.

  • The answer is education

    1 Apr 2008

    Thoresen's proposals for a new financial information service will not deliver on their promises

  • The big question adviserzone

    1 Apr 2008

    the questionthe answersSimon Fraser, president of investment solutions group at Fidelity InternationalOur research shows that the introduction of personal accounts in 2012  will see at least 300,000 UK employees deprived of  their existing pension scheme benefits, Just under 7 per cent of finance directors we polled said they will close existing schemes and replace them with personal accounts. The Government's original intention for personal accounts was to 'complement ...

  • The pathway to independent advice

    27 Mar 2008

    On the surface, the Thoresen review of generic financial advice seems irrelevant to the IFA sector. Generic advice could even take business away from it.

  • The wisdom of cover

    1 Apr 2008

    Last year saw a castrophic increase in the breadth of corporate dental care coverage. Further changes to NHS funding will make the products even more attractive this year, says Sam Barrett

  • There's no such thing as a free crunch

    27 Mar 2008

    The credit crunch claimed another victim after the stranglehold on Bear Stearns brought an end to the US investment bank's 85-year independent history.

  • Third of FSA staff expect to leave in two years

    27 Mar 2008

    Only around half the FSA's 2,740 staff expect to be working at the regulator in two years time, according to a confidential staff survey.

  • Tiner links up with Duffield

    27 Mar 2008

    Former FSA chief executive John Tiner has joined New Star as a non-executive director.

  • Towry Law boosts profit earnings

    27 Mar 2008

    Towry Law increased profit earnings by 45 per cent from £6.2m to £9m on a turnover of £51.3m - a 9 per cent year on year increase from £47.3m in 2006.

  • TPAS service set to boost Omo option

    27 Mar 2008

    The Pensions Advisory Service is due to launch its annuity service to consumers by the end of April in a bid to increase the number of people using the open market option.

  • Transact most favoured platform, say advisers

    28 Mar 2008

    Transact has been voted the most popular intermediary platform in a research study looking at the service, scope and functionality of different intermediary platforms.

  • Transition to trust and transparency

    27 Mar 2008

    The IFA market is in transition and it is a difficult journey. It is in transition because that is what the market wants and if you do not respond to the market you die.

  • Turnaround Capital to take advantage of ailing businesses

    31 Mar 2008

    Turnaround Capital is to a launch a fund that will look to turn struggling businesses into profitable ones within a set timeframe.

  • UBS reports new writedown of $19bn

    1 Apr 2008

    UBS has reported a new asset writedown of $19bn, more than doubling its total writedowns as a result of the sub-prime crisis to about $37bn (£18.5bn).

  • Unwelcome recycling

    27 Mar 2008

    The Government is encouraging us to become a nation of recyclers of waste items but recycling in the pension world is much less welcome and advisers are often concerned that clients who contribute to pensions while receiving retirement benefits could be penalised.

  • US advice firm opens first London office

    27 Mar 2008

    Brown Advisory, a US-based specialist investment advice firm, is opening its first office in London. The firm focuses on US equities but says moving to the UK will give it better access to the UK and Europe.

  • VCT season is less fruitful

    27 Mar 2008

    Venture capital trusts have seen a 22 per cent fall in new investments so far this season.

  • Volumes continue to fall as crunch filters through

    31 Mar 2008

    Nearly 50 per cent of firm's saw their business volumes fall in the three months to March proving the financial services sector is continuing to feel the pinch.

  • Who pinched my margin?

    1 Apr 2008

    Nick Groom, sales director for Axa corporate benefits, looks at the question of provider sustainability and the declining margin of corporate pension products

  • Woolwich in 10-year fix at 5.29%

    27 Mar 2008

    Woolwich is offering a 10-year fixed-rate mortgage at 5.29 per cent up to 60 per cent loan to value.

  • Would the FSA fail its own supervision tests?

    31 Mar 2008

    The FSA’s internal report into the Northern Rock debacle uncovered a startling catalogue of errors and failures which, if made by an adviser firm, could have seen it fined or kicked out of the industry.

  • Xafinity wins Burger King contract

    1 Apr 2008

    Xafinity Consulting has won a contract with Burger King to improve pension scheme services for its members following a competitive tendering exercise.

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