Money Marketing
27 June 2007
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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.
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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.
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"Rough period" for advice market predicted
27 Jun 2007
Advisers say the FSA’s proposals will lead to a shake up of the industry.
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1,300 Assessors ready for EPCs
28 Jun 2007
There are now 1,340 accredited energy assessors ready to conduct energy performance certificates.
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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.
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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.
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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.
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A Shaw thing
28 Jun 2007
Sam Shaw is a reporter on Money Marketing
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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.
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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.
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Acorn Capital Partners/Eurocape - Eurocape II Property Finance
27 Jun 2007
Acorn Capital Partners/EurocapeEurocape II Property Finance
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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."
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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.
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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.
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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.
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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.
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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.
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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.
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Broker Talkback
28 Jun 2007
Would you recommend third-way products - or flexible annuities - to your clients?
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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.
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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.
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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.
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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.
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'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.
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Charging ahead
28 Jun 2007
Kate Baier looks at how firms might change their charging structures.
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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.
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Close calls last orders
29 Jun 2007
Close InvestmentsClose Imperial Pub Company 2
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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.
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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.
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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.
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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.
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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.
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DB Mortgages - Super Light Two Year Fixed Self-Cert
27 Jun 2007
DB MortgagesSuper Light Two Year Fixed Self-Cert
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'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.
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Death of IFA Brian Wilson
28 Jun 2007
Brian Wilson of Newmarket Financial Planning died recently after a heart attack, aged 65 years.
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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.
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Direct channels make inroads
28 Jun 2007
Non-advised sales of protection policies rocketed last year.
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Dominion Fund Management - Dominion Chic Fund
3 Jul 2007
Dominion Fund ManagementDominion Chic Fund
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Fisher defends Towry's anti-commission stance
28 Jun 2007
Chief executive claims his advisers are 'entrenched in fees' after challenge by Nick Bamford.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Generic guide
28 Jun 2007
As an adviser, it must seem like financial advice is always under the spotlight.
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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.
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Godiva Mortgages - Buy To Let Flexx
29 Jun 2007
Godiva MortgagesBuy To Let Flexx
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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.
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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.
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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.
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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.
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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.
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Henderson Rowe - Elite Henderson Rowe Dogs of The FTSE 100 Fund
27 Jun 2007
Henderson RoweElite Henderson Rowe Dogs of The FTSE 100 Fund
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Hidden fees lead to GPP misselling fears
28 Jun 2007
Pointon's stark warning - 'We could be looking at the seeds of a disaster'.
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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.
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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.
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HSBC Investments International - Foundation European Growth Fund
29 Jun 2007
HSBC Investments InternationalFoundation European Growth Fund
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HSBC Investments International - Foundation UK Growth Fund
29 Jun 2007
HSBC Investments InternationalFoundation UK Growth Fund
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Investec Asset Management - Emerging Markets Debt Fund
27 Jun 2007
Investec Asset ManagementEmerging Markets Debt Fund
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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.
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Is it time for tontines?
28 Jun 2007
Could tontines be the answer to retirement funding? Chris Salih reports.
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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.
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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.
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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.
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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.
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Keydata Investment Services - Dynamic Growth Plan 17
27 Jun 2007
Keydata Investment ServicesDynamic Growth Plan 17
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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 ...
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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.
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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.
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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.
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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.
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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.
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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.
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Monkey business
28 Jun 2007
Hargreaves Lansdown chief executive Peter Hargreaves figures out how the life company gravy train could come off the rails.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Open up for business
28 Jun 2007
Protection providers need to win trust by publishing claim figures.
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OPM Fund Management - CF OPM Property Fund
27 Jun 2007
OPM Fund ManagementCF OPM Property Fund
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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.
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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."
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'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.
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PIMA renamed as TISA from today
2 Jul 2007
The Pep & Isa Managers Association has been renamed as the Tax Incentivised Savings Association.
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Pioneer launches new IP plan for professionals
3 Jul 2007
Pioneer has launched a new income protection product exclusively for professionals.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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RDR main points of advice
27 Jun 2007
The main proposals for discussion from the RDR published today include the following:
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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'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.
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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.
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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.
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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.
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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.
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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?
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Societe Generale Asset Management - SGAM Core Plus Sterling Bond Fund
3 Jul 2007
Societe Generale Asset ManagementSGAM Core Plus Sterling Bond Fund
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Societe Generale Asset Management - SGAM Total Return Bond Fund
29 Jun 2007
Societe Generale Asset ManagementSGAM Total Return Bond Fund
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Solid foundation from Macquarie
29 Jun 2007
Macquarie Bank GroupCF Macquarie Global Infrastructure Securities Fund
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Source of trouble
28 Jun 2007
Establishing where trust funds have come from could save significant amounts of inheritance tax.
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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.
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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.
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Stealth fighter
28 Jun 2007
Personal accounts could see the poorest people losing out.
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Support firm offers compliance service
28 Jun 2007
National IFA firm 2plan launches this month with technology-based compliance support for directly authorised advisers.
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Survey reveals huge PTA boom
28 Jun 2007
Protection gap widens as IP sales fall and tax relief axed on pension term.
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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.
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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.
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The gate to disaster
28 Jun 2007
Independent advisers must fight FGP or leave the wider market fast.
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The Mortgage Works - Five-Year Fixed 100% Mortgage
3 Jul 2007
The Mortgage WorksFive-Year Fixed 100% Mortgage
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The Mortgage Works - Three-Year Fixed 100% Mortgage
3 Jul 2007
The Mortgage WorksThree-Year Fixed 100% Mortgage
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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.
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Thinc opening annuity desk
28 Jun 2007
Thinc Group is starting an annuity desk in a multi-tie deal with Prudential and Just Retirement.
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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.
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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.
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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.
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Time to pack in Hips?
28 Jun 2007
Will Hanley considers the growing uncertainty over the future for home information packs.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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?
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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.
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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.
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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.
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Would you credit it?
28 Jun 2007
How fundamental credit research paid off in a deal involving mortgage lender Kensington.
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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.
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Zero interest
28 Jun 2007
If a client won't switch to a good credit card deal, they won't read an IDD.




