Money Marketing
27 June 2007

  • Tories' ex-pension spokesman defects

    28 Jun 2007

    Former Tory pension spokesman Quentin Davies, MP, has defected to Labour , calling Tory leader David Cameron superficial, unreliable and lacking in any clear convictions.

  • Wagstaff quits New Star for Gartmore

    28 Jun 2007

    Phil Wagstaff is leaving New Star to take over as global head of distribution at Gartmore. Wagstaff, who has been head of retail sales and marketing managing director at New Star for 18 months, will be responsible for distribution of retail, institutional and alternative products in the UK, Europe, Japan and the US.

  • "Rough period" for advice market predicted

    27 Jun 2007

    Advisers say the FSA’s proposals will lead to a shake up of the industry.

  • 1,300 Assessors ready for EPCs

    28 Jun 2007

    There are now 1,340 accredited energy assessors ready to conduct energy performance certificates.

  • A day at the races

    28 Jun 2007

    Two Money Marketing hacks donned their gladrags for a day at the races with Scottish Provident last week. Feeling rather conspicuous in their hats and posh frocks, the hacks caught the train to Ascot for a day of drinking, eating, betting, networking, royalty spotting and more drinking - another typical day in the life of a journo.

  • A new world for investment

    28 Jun 2007

    Ethical funds have been around for over 20 years but in the last few years green investing, once the dominion of eccentrics or those with a religious bent, has been heating up faster than the Earth, with many major investment houses launching their own ethical funds.

  • A quality circle of friends

    28 Jun 2007

    With everyone talking about a repolarised market, this time along the lines of commission versus fees, Money Marketing feels it is time to call on everyone to make friends.

  • A Shaw thing

    28 Jun 2007

    Sam Shaw is a reporter on Money Marketing

  • ABI produces consumer guide on critical illness

    2 Jul 2007

    The Association of British Insurers has developed a critical illness guide for consumers to help them better understand what critical illness cover is and what illnesses are generally covered by it.

  • ABI supports FSA's proposal to limit use of commission

    27 Jun 2007

    The Association of British Insurers has welcomed the proposals set out in the FSA's Retail Distribution Review discussion paper, particularly reducing the role of commission.

  • Acorn Capital Partners/Eurocape - Eurocape II Property Finance

    27 Jun 2007

    Acorn Capital Partners/EurocapeEurocape II Property Finance

  • Adviser Fund Index

    28 Jun 2007

    The Adviser Fund Index panellists are bearish on small-cap stocks. In February, 80 per cent of them said large-cap shares would outperform small caps over the next 12 months but they think small-cap stocks look expensive.

  • Advisers see no reason for FSA intervention

    28 Jun 2007

    Ninety per cent of advisers believe giving customers a choice on remuneration can help their businesses evolve but 84 per cent do not believe FSA intervention is necessary, according to a Skandia survey.

  • Aegon says RDR is opportunity to increase professionalism

    27 Jun 2007

    Aegon Scottish Equitable has welcomed the FSA’s RDR proposals saying they should boost the professionalism of advisers and give more people access to affordable advice.

  • African dawn for HSBC

    28 Jun 2007

    HSBC's OpenFunds global return fund has invested in a specialist African fund, spotting a low correlation with developed markets and other emerging markets.

  • AIFA hits out at RDR proposals

    27 Jun 2007

    Association of Independent Financial Advisers director general Chris Cummings has attacked the FSA’s use of the ‘Independent’ label in today’s RDR discussion paper.

  • All change as Darling gets Chancellor, Hain replaces Hutton and Purnell moves to culture

    28 Jun 2007

    Prime Minister Gordon Brown has appointed Alistair Darling as Chancellor in a major reshuffle of his Cabinet which also sees work & pensions secretary John Hutton replaced by Peter Hain and pensions minister James Purnell moved to culture.

  • All for one and one for all

    28 Jun 2007

    Ihave been using fund supermarket Cofunds for four or five years. It is a simple and clear way to view a range of funds for our clients.

  • Axa Framlington re-opens Luckraft fund

    29 Jun 2007

    Axa Framlington has re-opened George Luckraft’s £1.1bn equity income fund two years after soft-closing the portfolio to new investments.

  • B&CE builds on benefit

    28 Jun 2007

    B&CE Benefit Schemes is set to increase the life cover offered through its employee benefits product by 1,000.

  • Bancassurers flying in under the RDR

    28 Jun 2007

    The regulator's proposal in the discussion paper to create a primary advice channel will benefit banks and bancassurers and lead to misselling, says Aifa director general Chris Cummings.

  • Banking up wrong tree

    28 Jun 2007

    Dr Huertas, director of the FSA's wholesale firms division, is reported as saying: "Commission-based distribution arrangements tend to lead to conflicts of interest and may result in misselling."

  • Banks hail return of simple route

    28 Jun 2007

    The British Bankers' Association has commended the FSA's attempts to ensure simplified advice is a key part of its retail distribution review.

  • Barry Norris and Oliver Russ

    28 Jun 2007

    The two founders of Argonaut Capital have exceeded their own expectations massively by breaking through the £1bn barrier just two years after setting up their pioneering boutique business and moving into the Europe sector. Interview by Chris Salih.

  • Beacon appoints new marketing manager

    3 Jul 2007

    Non-conforming lender Beacon Homeloans has appointed Andrew Loveless as the new marketing manager for the group. Loveless has over 10 years of brand marketing and communication experience across financial and retail services.

  • Bee's knees

    28 Jun 2007

    Scottish Life's pension guru Steve Bee has listed his top 10 heroes of all time in one of his BeeLine blogs.

  • Best ideas birthday

    28 Jun 2007

    MM hacks were impressed to receive a huge cake which had an image of an MM front page made of rice paper as the icing to celebrate the one-year anniversary of Skandia's global best ideas fund.

  • BoE stats show net lending to individuals in May higher than April

    29 Jun 2007

    New Bank of England statistics have shown that total net lending to individuals in May was higher than the increase in April, but still remains lower than the previous six-month average.

  • Broker Talkback

    28 Jun 2007

    Would you recommend third-way products - or flexible annuities - to your clients?

  • Brokers paying £3.4m in lender call charges per year

    2 Jul 2007

    Research by Edeus has found that brokers are paying out around £3.4 million in lender call charges per year.

  • Buena vista social club

    28 Jun 2007

    There are many myths that are perpetrated in the financial services world and one that has been around longer than many is that clients are in the main not interested in socially responsible investment funds - so-called ethical investments.

  • Cabral to manage Norwich corporate bond fund

    2 Jul 2007

    Morley's Donna Cabral has been appointed lead manager on the Norwich Corporate Bond fund replacing Paul Mingay.

  • Capital Fortune calls on FSA to investigate recent price hikes by lenders

    27 Jun 2007

    Capital Fortune Independent Mortgage Advisers has made a formal request to the regulator to investigate the recent hikes in fixed rate products by the top lenders.

  • 'Capital pressures to bring more provider investment'

    28 Jun 2007

    Increasing provider investment in distribution companies is predicted as capital adequacy requirements put growing pressure on adviser firms.

  • Charging ahead

    28 Jun 2007

    Kate Baier looks at how firms might change their charging structures.

  • Client relationships will protect IFAs, says Brodie

    28 Jun 2007

    Master Adviser principal Doug Brodie says the retail distribution review will not affect IFAs that do their jobs properly but will hurt high-street banks.

  • Close calls last orders

    29 Jun 2007

    Close InvestmentsClose Imperial Pub Company 2

  • Clouded outlook

    28 Jun 2007

    Cofunds held its second-quarterly Platform conference, with bond funds as a well-timed topic. Indeed, bonds and interest rates were very much a feature of the week, with minutes of the Bank of England's Monetary Policy Committee disclosing that a further rate rise was only just avoided.

  • Compliance consultant offers first comprehensive answers to Retail Review

    2 Jul 2007

    A leading independent compliance consultant who has advised hundreds of IFA businesses has answered seventy questions posed by the regulator in its discussion paper on the retail distribution review.

  • Consumers could be given power to switch off trail commission

    29 Jun 2007

    Consumers could be given the right to switch off advisers’ trail commission if the industry pushes for such a measure to be enforced as part of the Retail Distribution Review.

  • Crashing back down to reality

    29 Jun 2007

    After spending an enjoyable two weeks off on holiday in Japan, I was thrown into the deep end with the publication of the FSA’s Retail Distribution Review discussion paper this Wednesday.

  • Daws to lead anti-money laundering operations at KPMG

    28 Jun 2007

    KPMG Forensic has added Mark Daws as a director in its anti-money laundering practice.

  • DB Mortgages - Super Light Two Year Fixed Self-Cert

    27 Jun 2007

    DB MortgagesSuper Light Two Year Fixed Self-Cert

  • 'Death' forged to escape creditors

    28 Jun 2007

    An employee at a Staffordshire IFA firm forged a client's death certificate to evade creditors, a court heard.

  • Death of IFA Brian Wilson

    28 Jun 2007

    Brian Wilson of Newmarket Financial Planning died recently after a heart attack, aged 65 years.

  • Denne quits Falcon in move to Premier

    28 Jun 2007

    Falcon Group head of investment solutions Piers Denne is leaving to join Premier Asset Management.

  • Direct channels make inroads

    28 Jun 2007

    Non-advised sales of protection policies rocketed last year.

  • Dominion Fund Management - Dominion Chic Fund

    3 Jul 2007

    Dominion Fund ManagementDominion Chic Fund

  • E&Y's Crawford flags winners from RDR paper

    27 Jun 2007

    The RDR seems to have been scripted to benefit the banks, says Ernst & Young Insurance lead partner Shaun Crawford.

  • Easter says RDR was a wasted opportunity focused on self-promotion

    29 Jun 2007

    The Money Portal says the RDR has been a huge waste of money, likening it to the anecdote about the NASA engineers that spent millions of pounds designing a pen that works in space, when the Russians just took a pencil.

  • ECJ backs AIC calls for Vat-free investment trusts

    28 Jun 2007

    The European Court of Justice backs the Association of Investment Companies and JP Morgan Claverhouse’s that investment trusts should be exempt from Vat on management expenses.

  • Eclectica adds agriculture to its stable

    29 Jun 2007

    Eclectica Asset Management has established the CF Eclectica Agricultural fund, an Oeic that aims for growth by investing in a global portfolio of companies that are involved in or related to agriculture and farming.

  • ECU Group predicts rate hike this week but says no need for further increases

    3 Jul 2007

    ECU Group chief economist Neil MacKinnon predicts there will be rate hike this thursday but believes cooling house market activity, reduced consumer spending and corporate borrowing may negate the need for further rate increases later this year.

  • Edeus boosts product range

    29 Jun 2007

    Edeus has boosted its product range with a number of new additions, including a self-cert tracker with a headline rate of 4.99 per cent.

  • Essential oils

    28 Jun 2007

    At the end of September 2004, Junior Oils was launched without much fanfare. In fact, you may never have heard of it and I cannot blame you, given the volume of unit trusts in the market and the fact that a specialist fund is not going to suit everyone.

  • Euro rules to bring unisex pension rates

    28 Jun 2007

    Standard Life head of pensions policy John Lawson believes the UK will see the end of gender-based pension pricing within eight years.

  • F&C targets Sipps with enhanced cash returns

    28 Jun 2007

    F&C is introducing a sterling enhanced cash fund to be managed by Jason Kabel.

  • Fair share

    28 Jun 2007

    In my last article, I began to examine the principles of pensionsharing orders in divorce settlements, paying particular attention to the ways in which financial advisers can be of immense practical and financial help to divorcing clients, their lawyers and, in passing, the financial adviser firm itself.

  • Fidelity claims CAR running on empty

    28 Jun 2007

    Fidelity says that customer-agreed remuneration which the new type of professional planner will be allowed to charge and still be "independent" is a fudged way of retaining indemnity commission.

  • Fidelity criticises RDR confusion

    27 Jun 2007

    Fidelity International has criticised the FSAs retail distribution review saying it will lead to further customer confusion and could dilute the label of independent' advice.

  • First adviser reaction to RDR

    27 Jun 2007

    Anand Associates managing director Bhupinder Anand says: "What is the logic? The FSA is admittedly going to now restrict access to financial services for consumers. If it's correct that in order to call yourself a professional adviser you can only charge fees I resent that.

  • First three firms achieve corporate chartered status

    3 Jul 2007

    Stuart Alexander, Layton Blackham and Smart & Cook have become the first three insurance broker firms to be awarded The Chartered Insurance Institute corporate chartered status.

  • Fisher defends Towry's anti-commission stance

    28 Jun 2007

    Chief executive claims his advisers are 'entrenched in fees' after challenge by Nick Bamford.

  • Former WdB chief to lead HNW venture

    28 Jun 2007

    Standard Life is planning a business focusing on very highnet-worth clients to be led by former Williams de Broe chief executive Richard Charnock.

  • FOS pamphlet will spell out reasons for declined claims

    28 Jun 2007

    The Financial Ombudsman Service is developing a factsheet on medical non-disclosure to help consumers understand the reasons for declined claims.

  • Friends recruiting for wrap

    28 Jun 2007

    Friends Provident has started an Edinburgh-focused recruitment drive to build the investment administration team underpinning its wrap.

  • FSA admits advice shake up will limit middle market access to full advice

    27 Jun 2007

    The FSA has admitted plans to shake up financial advice will result in less people getting access to full financial advice as it considers using capital adequacy to impose change in the market.

  • FSA admits mid market will be hit

    28 Jun 2007

    Advisers are outraged over plans which the FSA admits will limit mid-market consumers' access to full financial advice.

  • FSA chairman points to regulatory role

    27 Jun 2007

    FSA chairman Callum McCarthy believes the regulator must take its portion of blame for failing to solve a number of issues in the market that have ultimately led to them publishind the RDR discussion paper.

  • FSA research defends role of suitability letter

    29 Jun 2007

    The FSA has published independent research to help it decide whether or not to retain the suitability letter as a requirement for advisers.

  • FSA says wraps can be regulated by principle

    27 Jun 2007

    The FSA says the regulation of platforms will be principles based and their use is unlikely to result in a change to the Handbook.

  • FSA scrutinises platform share offers to advisers

    27 Jun 2007

    The FSA says IFAs may face conflicts of interest if they sign up to wrap platforms that offer share incentive schemes.

  • FSA warns IFAs against bulk transfer onto platforms

    29 Jun 2007

    The FSA has warned IFAs migrating their clients on to platforms that they must be careful because some client assets may be moved inappropriately. Firms may act “inappropriately” by bringing existing clients and legacy assets onto a platform against the needs of individual customers, according to fears raised by the FSA.

  • FSA's Thwaites to join skills council

    28 Jun 2007

    Sarah Thwaites has been appointed as the Financial Services Skills Council's director of skills development. She is manager, industry training at the FSA and developed its T&C regime.

  • FSCP welcomes RDR proposals

    27 Jun 2007

    The Financial Services Consumer Panel has applauded the contents of the RDR but says the FSA may still need to step in and put an end to commission.

  • Gartmore to merge US opps and focus

    28 Jun 2007

    Gartmore is planning to merge its £50m US focus fund into the £203m US opportunities fund following the appointment of US multi-cap specialist Marisco Capital Partners.

  • Generic guide

    28 Jun 2007

    As an adviser, it must seem like financial advice is always under the spotlight.

  • GMAC-RFC makes fourteenth portfolio sale worth £448m

    3 Jul 2007

    GMAC-RFC has made its fourteenth portfolio sale to Britannia Treasury Services, worth £448 million.

  • Godiva Mortgages - Buy To Let Flexx

    29 Jun 2007

    Godiva MortgagesBuy To Let Flexx

  • Growing interest in let to buy mortgages says Wave

    2 Jul 2007

    Wave claims there is a growing interest in let to buy mortgages as more homeowners consider holding on to exisiting property rather than selling when moving house.

  • Halfacre takes on partnership role

    28 Jun 2007

    JP Morgan Asset Management has appointed David Halfacre as sales manager of strategic partnerships. He has been with JPMAM for four years and worked in the outbound sales team.

  • Havens and have nots

    28 Jun 2007

    Last week I started to look at offshore funds and identified that there are two main categories of offshore fund for the UK investor - distributor and non-distributor funds. The former are Oeic-like in their taxation consequences, with income being assessed as income and capital gains as capital gains.

  • HBOS launches new mortgage protection plan

    3 Jul 2007

    Halifax Bank of Scotland has launched a new Total Mortgage Protection Plan that provides planholders access to the Best Doctors service at no additional cost.

  • HBOS pays the price

    28 Jun 2007

    Samantha Downes reports on how HBOS aims to recover after losing half its share of the lending market.

  • Henderson Rowe - Elite Henderson Rowe Dogs of The FTSE 100 Fund

    27 Jun 2007

    Henderson RoweElite Henderson Rowe Dogs of The FTSE 100 Fund

  • Hidden fees lead to GPP misselling fears

    28 Jun 2007

    Pointon's stark warning - 'We could be looking at the seeds of a disaster'.

  • Hip effect boosts market

    28 Jun 2007

    The anticipated launch of home information packs in June led to a 16 per cent increase in the number of properties placed on the market.

  • Holloway paid 96% of IP claims

    28 Jun 2007

    Holloway Friendly Society says it paid out on 96 per cent of income protection claims in 2006.

  • HSBC Investments International - Foundation European Growth Fund

    29 Jun 2007

    HSBC Investments InternationalFoundation European Growth Fund

  • HSBC Investments International - Foundation UK Growth Fund

    29 Jun 2007

    HSBC Investments InternationalFoundation UK Growth Fund

  • Hutton replaced by Hain as work & pensions secretary

    28 Jun 2007

    Secretary of state for work & pensions John Hutton is expected to be replaced by former Northern Ireland secretary Peter Hain in Prime Minister Gordon Brown's new cabinet.

  • IFA welcomes expanded definition of fees

    27 Jun 2007

    The retention of fund-based commission in the possible models of adviser remuneration is to be welcomed as many advisers struggle to move clients onto a fee paying basis, says Arch Financial Planning managing director Arthur Childs.

  • IFAP boss David Elms says advisers are completely capable of moving to fees

    28 Jun 2007

    IFA Promotions chief executive David Elms believes most IFAP advisers will be completely capable of moving to a fee or fee-offset business model.

  • IFP bids for role in policing professional advisers

    28 Jun 2007

    The Institute of Financial Planning says it is the best body to police industry professionalism following proposals in the retail distribution review for a professional financial advice channel.

  • IFP claims it is best placed body to develop financial planning

    27 Jun 2007

    The Institute of Financial Planning has claimed it is the best body to police the professionalism of financial advisers following the RDR proposals.

  • ifs School of Finance calls for mandatory financial education in school

    3 Jul 2007

    The ifs School of Finance is in support of FSA chief executive John Tiner's call for financial education to be included as a mandatory part of the national curriculum in schools.

  • IHT planning boosts offshore sector

    28 Jun 2007

    The offshore bond market grew by almost 50 per cent to £7.4bn last year as more investors went offshore as part of inheritance tax planning strategies, says Defaqto.

  • IMA warns of over simplifying advice process

    27 Jun 2007

    The Investment Management Association says the FSA’s proposals in the retail distribution review could over simplify the advice process and could increase the risk of misselling.

  • Investec Asset Management - Emerging Markets Debt Fund

    27 Jun 2007

    Investec Asset ManagementEmerging Markets Debt Fund

  • Investor's guide to the orchestra

    28 Jun 2007

    Dozens of different types of fixed-interest instruments are used in retail bond portfolios, making it increasingly difficult to determine what you are buying when investing in this sector.

  • Is it time for tontines?

    28 Jun 2007

    Could tontines be the answer to retirement funding? Chris Salih reports.

  • JPMAM follows RDR lead by revamping Oeic pricing structure

    29 Jun 2007

    JPMorgan Asset Management is reshaping the pricing structure of its entire Oeic range by setting blanket total expense ratios at 18 basis points across its entire fund range.

  • JPMorgan supports professionalism, CAR and tiered advice

    27 Jun 2007

    JPMorgan Asset Management is in full support of the proposals put forward by the FSA's RDR discussion paper.

  • Jupiter adds India specialist

    28 Jun 2007

    Jupiter has made its first move following the private equity-backed management buyout by appointing Avinash Vazirani as a fund manager and director.

  • Jupiter opens Jersey office

    28 Jun 2007

    Jupiter Asset Management has announced the opening of an office in Jersey to deal with growing business volumes from the Channel Islands.

  • Keydata Investment Services - Dynamic Growth Plan 17

    27 Jun 2007

    Keydata Investment ServicesDynamic Growth Plan 17

  • Let it be

    28 Jun 2007

    At its annual conference last week, the Chartered Institute of Housing claimed that tax relief on buy-to-let mortgages is contributing to the problems faced by first-time buyers and called on the Government to close what it called the loophole that allows BTL landlords to offset the costs of running a rental property, such as service charges, repairs and letting agent fees, as well as mortgage interest. This is also a common theme in letters to the press from frustrated would-be first-time ...

  • Let there be enlightenment

    28 Jun 2007

    Simon Hildrey says the choice of ethical funds has almost doubled within three years as investors become switched on to environmental issues. Despite some decent performance, however, it is clear there is still a certain price to pay for investors to salve their conscience.

  • LV= and Tesco joining the protection battle

    28 Jun 2007

    LV= has joined the protection industry's rate battle by cutting its term insurance premiums.

  • Merchant Investors slashes Sipp fee

    28 Jun 2007

    Merchant Investors is cutting the charge on its Sipp by 58 per cent in a bid to encourage smaller investors.

  • Meteor brings out euro plan

    29 Jun 2007

    Meteor Asset Management has brought out a euro-denominated version of its prima growth plan, a guaranteed equity bond that has an early maturity feature.

  • Mike O'Brien named as Minister for pension reform

    3 Jul 2007

    Labour MP for North Warwickshire Mike O'Brien has been named as James Purnell's successor as Minister for pension reform.

  • Moneysupermarket set for £1bn flotation

    29 Jun 2007

    Moneysupermarket.com Group has announced its intention to float and is to proceed with an initial public offering of its ordinary shares.

  • Monkey business

    28 Jun 2007

    Hargreaves Lansdown chief executive Peter Hargreaves figures out how the life company gravy train could come off the rails.

  • Morgans calls for clear definition of term "fees"

    28 Jun 2007

    Morgans Independent Advisers director Martin Dilke-Wing has entered into the commission versus fee debate, saying clarification of the term ‘fee’ must come before speculation or discussion on the findings of the RDR.

  • MPC hires analysts for Ghambir

    3 Jul 2007

    MPC Investors has appointed two equity analysts in the shape of Steven Robertson and Eng Li Yap to assist Ajay Ghambir in the launch of his new MPC Samsara hedge fund.

  • Muddle in middle in war of independence

    28 Jun 2007

    The FSA is planning a three-way split for the financial advice market but is questioning whether its proposed middle level of general financial advisers has a long-term future.

  • Nationwide Building Society calls upon Darling to help homebuyers

    28 Jun 2007

    Nationwide Building Society has called upon newly appointed Chancellor Alistair Darling to help hard-pressed homebuyers and savers.

  • New Star intl property fund now on Skandia and FundsNetwork

    2 Jul 2007

    New Star's international property fund is now available on Skandia and FundsNetwork platforms.

  • New-found Freedom for Yousefi

    28 Jun 2007

    Alliance & Leicester head of intermediary mortgages Mehrdad Yousefi is joining Freedom Lending as director of distribution and sales.

  • Newton set for Abbey fund move

    28 Jun 2007

    Santander Asset Management has appointed Melanie Newton from Hermes as an equity dealer in its UK equities team as it is set to bring management of the Abbey National UK growth fund and Abbey National UK equity fund back in house.

  • Nicoll takes retail firms role at FSA

    28 Jun 2007

    Investment Management Association deputy chief executive Sheila Nicoll has been appointed FSA director of the retail firms division.

  • Nip and tuck for City Financial Fof

    28 Jun 2007

    Neptune's multi-manager subsidiary North Investment Partners has completed the transformation of City Financial's UK select alpha fund into a fund of funds by selling all the individual equities that remained in the portfolio.

  • Northern Rock shares fall after profit warning

    27 Jun 2007

    Northern Rock has seen its shares drop from 113p to 834p after it warned that full-year profits will rise less-than-expected in tight market conditions.This comes as Halifax Bank of Scotland recently announced that its share of the lending market was halved in the first six months of 2007 to less than 10 per cent from its normal range of 15 to 20 per cent.

  • NU adds online annuity quotes

    28 Jun 2007

    Norwich Union is offering a new online quote facility for annuities which will be available on Webline, Assure-web and the Exchange.

  • NU launches scheme to drive down non-disclosure

    2 Jul 2007

    Norwich Union has launched a scheme to drive down the number of rejected critical illness and life insurance claims due to non-disclosure by contacting 5,000 of its existing protection policyholders.

  • NU removes MVRs from all with-profits policies

    3 Jul 2007

    Norwich Union says all of its customers’ with-profits policies will be market value reduction free from July 1.

  • OMAM poaches Stevens for fixed interest offering

    3 Jul 2007

    Old Mutual Asset Managers (UK) has grown its fixed income team with the addition of Richard Stevens.

  • Only a third to stay in personal accounts

    28 Jun 2007

    Only one-third of people without a pension say they will not opt out of personal accounts.

  • Open up for business

    28 Jun 2007

    Protection providers need to win trust by publishing claim figures.

  • OPM Fund Management - CF OPM Property Fund

    27 Jun 2007

    OPM Fund ManagementCF OPM Property Fund

  • Opportunities emerge out of Africa

    28 Jun 2007

    Africa is emerging as an attractive option for offshore investors who should not be intimidated by the political and economic problems of the past, says Investec Asset Management.

  • Out of context

    28 Jun 2007

    "I think we are going to need another jug of Pimms here. Can you just leave it on the table, please."

  • 'Pension watchdog needs more teeth to intervene in takeovers'

    28 Jun 2007

    The Pensions Regulator should have the power to decide how much money has to be placed in a company's pension scheme at the time of a takeover bid, say industry experts.

  • PIMA renamed as TISA from today

    2 Jul 2007

    The Pep & Isa Managers Association has been renamed as the Tax Incentivised Savings Association.

  • Pioneer launches new IP plan for professionals

    3 Jul 2007

    Pioneer has launched a new income protection product exclusively for professionals.

  • Potential rivals take up the tech gauntlet

    28 Jun 2007

    Possible rivals to True Potential say they welcome the new competition but have question how easy it is to set up new technology in the market.

  • Primary advice is 'proxy'

    28 Jun 2007

    Sesame chief executive Patrick Gale criticises the plan for primary advice as a "cheap proxy" for independent advice and predicts the firm's advisers will become general financial advisers or professional planners.

  • Primary advice will be an "off-the-peg suit"

    27 Jun 2007

    The FSA has proposed a primary advice service, which it likens to an "off-the-peg suit" as opposed to a bespoke suit, in its RDR discussion paper.

  • Protective instinct kicks in at Miton

    28 Jun 2007

    Miton Optimal is holding more than a quarter of its strategic and special situations portfolios in cash as capital preservation has taken priority.

  • Pru targets IHT planners with discounted gift trust

    28 Jun 2007

    Prudential is introducing a discounted gift trust to meet growing demand for inheritance tax planning solutions.

  • RDR committee chair Rennison says new General Financial Adviser category should be permanent

    29 Jun 2007

    Roderic Rennison who chaired the professionalism working group within the Retail Distribution Review says he believes the new category of General Financial Adviser should be a permanent fixture.

  • RDR head Bowe writes back to editor of Money Marketing

    3 Jul 2007

    Amanda Bowe the head of the retail distribution review has written back to the Editor of Money Marketing in response to three letters he wrote to her in the run up to the publication of the retail distribution review.

  • RDR main points of advice

    27 Jun 2007

    The main proposals for discussion from the RDR published today include the following:

  • RDR to allow qualification transfer

    27 Jun 2007

    Advisers could be allowed to carry their qualifications over to the new role of professional financial planner proposed in the RDR if they are directly equivalent.

  • RDR will add to confusion, says needanadviser.com

    27 Jun 2007

    The RDR has fallen short with the FSA yet again failing to define advice levels, says NeedAnAdviser.com director Ashley Clark.

  • Regulator is accused of culling firms

    28 Jun 2007

    Thousands of firms could be put out of business by increased costs on those which fall under the new general adviser category, warns Highclere Financial Services partner Alan Lakey.

  • Revolving door to retirement

    28 Jun 2007

    Bernard Footit, technical support manager for pensions at Canada Life, details some of the alternatives to buying an annuity.

  • RICS faces member challenge to legal action on Hips

    2 Jul 2007

    The Royal Institution of Chartered Surveyors could be forced to call an EGM over its decision to launch a judicial review against the government over Hips, after nearly 150 members have signed a petition calling for the immediate launch of Hips.

  • Roaring nineties

    28 Jun 2007

    Research studies suggest that 90 per cent of performance is driven by asset allocation so why agonise over individual fund selection? Matthew Williams explains his company's strategy.

  • Rowanmoor director labels RDR a “disaster for the general public”

    29 Jun 2007

    Rowanmoor Pensions director of consultancy David Seaton has branded the Retail Distribution Review a “disaster for the general public” despite the fact that the FSA has recognised the importance of factory gate pricing for the IFA community.

  • RPS adds a client insurability assessment service for advisers

    28 Jun 2007

    Risk Placement Services will now provide a quick client insurability assessment and indicative quote for busy advisers.

  • Sandler revisited

    28 Jun 2007

    One of the occasional drawbacks of writing for a weekly publication is that, at times, by the time your words appear in print, events may already have superseded them.

  • Scott says markets facing 20% fall

    28 Jun 2007

    F&C UK growth and income manager Ted Scott predicts the market will see a significant correction of up to 20 per cent and is warning investors to exercise caution.

  • Screen test

    28 Jun 2007

    Clare Bettelley covers the wide green spectrum of ethical investment with clients taking positive or negative views to include firms focusing on improving the environment or excluding businesses dealing in areas such as gambling, tobacco, alcohol or armaments.

  • 'Share data to reduce churn rate'

    28 Jun 2007

    Greater data sharing between the FSA, trade bodies and providers is being demanded to tackle the problems of churning and low persistency rates.

  • Ship seeks recruit to raise profile of equity release

    28 Jun 2007

    Safe Home Income Plans is to appoint a full-time director general to raise the profile of the organisation and equity release.

  • Skandia platform kicks off with 900 funds

    28 Jun 2007

    Skandia's new fund platform Selestia Investment Solutions launches on July 30 with over 900 funds plus investment tools and e-business services.

  • Skandia says method of remuneration 'irrelevent'

    27 Jun 2007

    The independence of an adviser is not affected by commission as the method of adviser remuneration is irrelevant if the quality of advice is good enough, according to Skandia.

  • Slow admin hits loan life cover sales

    28 Jun 2007

    The number of life insurance policies sold alongside a mortgage dropped by nearly 10 per cent in 2006 according to Swiss Re.

  • Smooth Moves

    28 Jun 2007

    I have a couple of with-profits bonds taken out in 1999. I have read a lot about these in the financial press and guidance on the FSA website. What should I do with these investments?

  • Societe Generale Asset Management - SGAM Core Plus Sterling Bond Fund

    3 Jul 2007

    Societe Generale Asset ManagementSGAM Core Plus Sterling Bond Fund

  • Societe Generale Asset Management - SGAM Total Return Bond Fund

    29 Jun 2007

    Societe Generale Asset ManagementSGAM Total Return Bond Fund

  • Solid foundation from Macquarie

    29 Jun 2007

    Macquarie Bank GroupCF Macquarie Global Infrastructure Securities Fund

  • Source of trouble

    28 Jun 2007

    Establishing where trust funds have come from could save significant amounts of inheritance tax.

  • Standard Life reluctant to subsidise generic advice

    28 Jun 2007

    Standard Life says it is unwilling to subsidise generic advice because the potential customers fall outside its target market.

  • Standard says it is safe on commission disclosure

    28 Jun 2007

    Standard Life believes it will not be in the firing line as a result of the Wilson v Hurstanger case because the company already fully discloses commission payments to its clients.

  • Stealth fighter

    28 Jun 2007

    Personal accounts could see the poorest people losing out.

  • Support firm offers compliance service

    28 Jun 2007

    National IFA firm 2plan launches this month with technology-based compliance support for directly authorised advisers.

  • Survey reveals huge PTA boom

    28 Jun 2007

    Protection gap widens as IP sales fall and tax relief axed on pension term.

  • Swiss Re doesn’t dazzle

    3 Jul 2007

    Swiss Re could have revealed dazzling news in the realm of shrinking protection gaps, booming income protection sales and critical illness policies being sold left right and centre, in its annual Term and Health Watch report released last week.

  • The games people play

    28 Jun 2007

    The NatWest Island games begin this week in Rhodes. They will last a week and involve over 3,000 participants from 24 different small islands across the world.NatWest International has 14 employees taking part in sports ranging from table tennis to windsurf-ing and volleyball. The games have taken place every two years for the last 20 years. Good luck to all the competitors.

  • The gate to disaster

    28 Jun 2007

    Independent advisers must fight FGP or leave the wider market fast.

  • The Mortgage Works - Five-Year Fixed 100% Mortgage

    3 Jul 2007

    The Mortgage WorksFive-Year Fixed 100% Mortgage

  • The Mortgage Works - Three-Year Fixed 100% Mortgage

    3 Jul 2007

    The Mortgage WorksThree-Year Fixed 100% Mortgage

  • Thinc chief claims fee debate is red herring

    28 Jun 2007

    Thinc Group chief executive officer Simon Chamberlain claims the retail distribution review proposals on commission and fees are a red herring as most commission is rebated.

  • Thinc opening annuity desk

    28 Jun 2007

    Thinc Group is starting an annuity desk in a multi-tie deal with Prudential and Just Retirement.

  • Thirty work

    28 Jun 2007

    In the months preceding the adoption of Ucits III in 2002, some investors were anticipating a wave of new vehicles brandishing their newly acquired investment capabilities.

  • This isn't a perfect world

    28 Jun 2007

    I read with some perplexity Andrew Fisher's rant about the industry "fleecing" clients by being paid commission. I suppose in a perfect world every client would be willing to pay an hourly rate for advice but most cannot afford to or do not want to.

  • Threadneedle appoints new senior management team

    28 Jun 2007

    Threadneedle has unveiled its new senior investment management team with the appointments of Dominic Rossi, William Frewen and Philip Best.

  • Time to pack in Hips?

    28 Jun 2007

    Will Hanley considers the growing uncertainty over the future for home information packs.

  • Tiner says FSA should have stuck to guns on depolarisation

    3 Jul 2007

    Outgoing FSA chief executive John Tiner says he wishes the FSA had stuck to its guns on depolarisation and separated out the cost of the product and the cost of the service.

  • Tiner will get 325k gardening leave pay

    28 Jun 2007

    FSA chief executive John Tiner got an inflation-busting 14 per cent pay rise last year but chairman Callum McCarthy saw a slight drop in his remuneration package.

  • Towry Law must lead by example

    28 Jun 2007

    I find myself wanting to agree with your campaign to improve the integrity of the financial services industry but I need some reassurances that you have, so to speak, put your money where your mouth is.

  • Towry Law says RDR proposals not enough

    27 Jun 2007

    Towry Law says it is 'unhappy' with the RDR proposals to expand the definition of what can be called a fee and says the new arrangements may not go far enough to “clean up” the current system.

  • Trade bodies warn Cap Ad changes may be swift

    29 Jun 2007

    Aifa and leading IFAs have warned that next Thursday’s publication of the Capital Adequacy discussion paper, part of the Retail Distribution Review, will have more of an impact on advisers than this week’s paper.

  • Two tier regime for insurance as FSA publishes consultation paper

    29 Jun 2007

    The FSA has published its consultation paper overhauling the Insurance Conduct of Business regime, proposing a two tier regime for insurance advisers.

  • UBS carves out 130/30 territory

    29 Jun 2007

    UBS has launched the UBS US equity 130/30 fund, an Oeic aiming for growth and income by investing in US companies using long and short techniques.

  • Union calls for investigation into Saga AA merger

    28 Jun 2007

    The GMB union has called for the Treasury to examine the three private equity firms involved in the £6.2bn Saga and AA merger.The union, which is strongly against the private equity industry has written to Treasury select committee on private equity chairman John McFall suggesting he look into the recent merger of private equity firms Charterhouse, CVC and Permira because the financing of the deal was dubious.

  • VAT's not the way I like it

    28 Jun 2007

    I have just read the article by Samantha Shaw on how advisers should not be charging commission any more and, presumably, should charge fees instead.

  • Wagstaff trades New Star for Gartmore

    27 Jun 2007

    New Star retail sales and marketing managing director Phil Wagstaff has resigned from the company to take up the role of global head of distribution at Gartmore.

  • Was it Black Wednesday?

    2 Jul 2007

    So, we’re sure by now you are all sick to the back teeth of the RDR. Or are you? I know we had many a version of DP 07/1 and DP 07/2 kicking around the office last week, the phones were ringing off the hook and we spoke to, hopefully, either most of you or representatives on your behalf about the potential impact to your businesses.

  • Was it Black Wednesday?

    2 Jul 2007

    So, we’re sure by now you are all sick to the back teeth of the RDR. Or are you? I know we had many a version of DP 07/1 and DP 07/2 kicking around the office last week, the phones were ringing off the hook and we spoke to, hopefully, either most of you or representatives on your behalf about the potential impact to your businesses. But having now had the weekend to digest, are things any clearer?

  • Which? welcomes RDR proposals

    27 Jun 2007

    Which? has welcomed the proposals laid out in the retail distribution review saying the current system is failing consumers but it says consumers will need properly informed of any changes.

  • Window on the world

    28 Jun 2007

    UK income funds generally outperform UK all company funds. Over the past 10 years, for example, the average UK income unit trust has gone up by 145 per cent against 105 per cent for the average UK all companies fund. However, UK income funds now have very little choice of where to invest because of the huge demand which has reduced the average income on UK equities.

  • Winning promotion

    28 Jun 2007

    By the time you get to read this commentary, the FSA's retail distribution review discussion paper should be on your desks.

  • Would you credit it?

    28 Jun 2007

    How fundamental credit research paid off in a deal involving mortgage lender Kensington.

  • Young not learning lessons from the old, says Tomorrow

    3 Jul 2007

    Almost 60 per cent of people in their twenties have no plans to save for retirement, according to research by Tomorrow.

  • Zero interest

    28 Jun 2007

    If a client won't switch to a good credit card deal, they won't read an IDD.

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