Money Marketing
27 March 2002

  • ཐ% rise in approvals signals a continuing strong housing market'

    28 Mar 2002

    Gross mortgage advances by building societies edged up to £2.14bn last month from £2.11bn in January, according to the latest figures from the Building Societies Association. Its data for last month also shows that approvals on mortgage loan applications increased to £2.8bn from £2.2bn the previous month. On the downside, net advances fell slightly to £568m from £569m. In the savings market, societies performed well and achieved net inflows of ...

  • 'LTC is top public priority for Budget'

    2 Apr 2002

    Free long-term healthcare is the top issue the public wants addressed in this year's Budget according to research from RJ Temple. Sixty per cent of those surveyed said free long term care for old people was the top priority, with removal of tuition fees for students second on 37 per cent. Compulsion on pensions was supported by 17 per cent of the sample of 590 people across the UK.

  • 'Time right for high-yield bonds'

    28 Mar 2002

    Stockbroker Killik & Co bel-ieves it is a good time to invest in high-yield corporate bonds but is recommending that investors should invest through investment funds rather than directly. It says gilts and high-quality corporate bonds have outperformed equities in recent years. But Killik expects interest rates will remain low, meaning it is a good time to move away from the high-rated end of the bond market, which tends to be more sensitive to interest rates than high-yield bonds. It ...

  • 5.45% fix for non-conforming loan

    2 Apr 2002

    Specialist lender Mortgages Plc has introduced a 5.45 per cent fixed rate across its range of non-conforming mortgages. The rate is fixed until March 31, 2003 and is available on loans up to 90 per cent loan to value. Right to buy mortgages are excluded. Redemption penalties are 6 per cent for the first three years, then one month’s interest or notice.

  • A consumer's view

    28 Mar 2002

    Who is right on the bank base rate - the money markets or Eddie George and his merry men? For homebuyers this is an important consideration - do they fix now or go for a big discount and hope the money markets are wrong? The lenders have no choice but to reflect what the money markets are telling them and increase their fixed-rate mortgages. Woolwich, Britannia, Portman, Newcastle, Leeds & Holbeck have already withdrawn their cheap fixed rates, with others expected to follow. The ...

  • A perversion of process

    28 Mar 2002

    Why is the small IFA being consigned to history? According to CP121, it is because his means of remuneration, commission, is a commercial "distortion". This rationale comes from a regulator responsible for the grossest commercial distortion of all time, namely the substitution of the ancient marketplace watchwords "buyer beware" with the new "seller beware". This is not merely a distortion of commercial process but a perversion of it. The transfer of the buyer's responsibility ...

  • Abbey branches out into DIY stores

    28 Mar 2002

    Abbey National is opening outlets in Homebase home and garden stores. The first branch is opening on March 29 in Liverpool and Abbey says if this pilot is successful it hopes to extend it to other Homebase stores The new Liverpool branch includes a technology zone, where customers can learn about using IT to manage their finances, electronic banking demonstrations on the internet, a fast banking zone for simple transactions, phone banking and a play area for children. Financial ...

  • Acts of independence

    28 Mar 2002

    As we begin to understand the potential ramifications of CP121 for the IFA sector, I have a few questions for David Severn which would help us draft our detailed responses. We are told that the word "independent" is to become a protected word, in a similar way to "royal" or "university". To achieve this with the word "broker" took an Act of Parliament - I wonder if we could be given the specific legislative reference to the act that gives the FSA the power to force firms to change ...

  • Actuaries to review Equitable's position on non-GAR pensions

    28 Mar 2002

    Equitable Life has set up a review to decide whether to compensate non-guaranteed annuity rate policyholders who believe they have been missold policies. It says it has made the move to head off "expensive and time-consuming" legal action. It has commissioned an independent review by actuaries B&W Deloitte to determine whether former holders of non-GAR policies have suffered loss as a result of being missold policies. Policyholder action groups have pledged to pursue Equitable ...

  • Advice Catmark back on agenda

    28 Mar 2002

    Catmarked advice is back on the agenda for the post-polarisation world, operating alongside a generic financial health-check and potentially a free- phone service offering advice, according to the Treasury. A Treasury spokesman confirms a Cat standard for advice is still likely to be implemen-ted following the FSA's chan-ges to polarisation. The voluntary standard would stand for charges, access and terms as it does for mortgages, which would mean advisers wanting to take part ...

  • AIG Life adds and subtracts

    2 Apr 2002

    The third issue of AIG Life's protected growth bond is a guaranteed equity bond that is linked to the FTSE 100 index for six years.

  • B&B appoints product guru

    28 Mar 2002

    Bradford & Bingley has netted a new product development director, David Cooper, who joins from credit card provider Goldfish Bank. Cooper will be responsible for developing new products including general insurance and mortgages for the bank's IFA brands, The Marketplace and Charcol. As product director at Goldfish, Cooper was involved in the development of the company's business proposition and personally managed all products from concept to launch. Cooper has had 18 ...

  • Bank of Ireland Mortgages aims to simplify debt

    28 Mar 2002

    Bank of Ireland Mortgages is moving into the debt consolidation sector after a survey of 300 brokers showed the need for the service. It estimates the debt consolidation market is worth £50bn. Sixty-two per cent of brokers say the number of clients needing advice on debt is on the increase. Only 15 per cent believe demand is decreasing and 23 per cent say it is the same. Bank of Ireland says brokers are carrying out a significantly high level of debt consolidation, with 16 ...

  • Banking on a big shift in power

    28 Mar 2002

    The banks are crossing the i's and dotting the t's in their silent coup over British financial services. A merger of the ABI and the British Bankers' Association is now on the cards, a move which is opposed by this newspaper. Of course, the banks and insurers will say they are simply recognising the situation on the ground. Many insurers are bank-owned or have significant bank distribution. It is true that the balance of power in distribution may be shifting. Banks ...

  • BDT global trust looks through emerging markets lense

    28 Mar 2002

    BDT Investment Management, a boutique investment house established in 2000, has introduced the establishment investment trust. This aims for capital growth through a portfolio of global shares, fixed interest securities and hedge funds.

  • Bonus of contention

    28 Mar 2002

    Last week, I started to look at the income tax and National Insurance implications when a company effects a policy of life insurance on the life of an employee or director and, sometime later, decides to assign that policy to the employee or director. This is perhaps a relatively infrequently encountered scenario but is not one that never occurs and is certainly one where there appears to have been some relatively long-standing uncertainty and misunderstanding. The policy in question ...

  • Bright future for Oeics

    28 Mar 2002

    The market share of Oeics has been quietly building since the first was offered almost five years ago. They now account for 37 per cent of industry funds under management compared with 27 per cent a year ago. Now is an appropriate time to reflect on what they can offer the investor. Aside from the FSA now calling these vehicles investment companies with variable capital (ICVCs), there is little that has actually changed in relation to Oeics themselves. They are often portrayed ...

  • Britain in need of saving, says Midshires' poll

    28 Mar 2002

    Only one in 10 people in Britain are making additional savings to finance their retirement outside of a pension, according to Birmingham Midshires. Its Saving Britain campaign, which aims to boost awareness of savings and investment, found that only 12 per cent of people are currently setting aside extra cash to bolster their retirement income. Its survey of 1,000 people found only 22 per cent begin or intend to begin saving additional money for retirement before age 45. This figure ...

  • C&G updates fixed rate range

    2 Apr 2002

    C&G is updating its range of fixed rate mortgages with rates for new and remortgage customers as low as 4.99 per cent.

  • Canada Life International - Flexible Protector Plan

    27 Mar 2002

    Wednesday, March 27, 2002 Type: Individual critical illness cover Minimum premium/cover: £15 a month, £150 a year/Subject to minimum premium Maximum cover: £1m Illnesses covered: Accidental HIV, alzheimer's disease, pre-senile dementia, angioplasty, aorta graft surgery, benign brain tumour, blindness, cancer, coronary artery bypass surgery, Creutzfeldt-Jakob's disease, deafness, heart attack, heart valve replacement ...

  • Challenger picks back-office backing

    2 Apr 2002

    Challenger has appointed Marlborough Stirling to provide back office support for its retirement product range. The Australian company is looking to launch a guaranteed annuity offering in the near future to supplement its Gibraltar based Open Annuity which it launched in December 2001. Challenger says by keeping administration costs to a minimum it will be able to pass savings onto consumers as it will be able to develop novel and competitive products.  

  • Charcol and Freeserve join forces in loan push

    28 Mar 2002

    Charcol has teamed up with internet provider Freeserve to launch an eight-week joint marketing campaign promoting the IFA's mortgage service through Freeserve's website. The joint ads will follow the theme of Freeserve's current hippie-themed advertising campaign. Charcol's logo will be included in the ads to promote its mortgage service, as well as a special freefone number to allow customers to get mortgage advice over the phone. Charcol has been providing ...

  • Cherie Booth off annuity case

    27 Mar 2002

    Cherie Booth QC, wife of the Prime Minister, is no longer acting on behalf of pensioner Joe Singer in his challenge to the requirement to buy an annuity at age 75. Manchester based solicitors Latimer Lee acting on behalf of Mr Singer refused to comment as to why Ms Booth is not being retained or whether the case is to continue.

  • Commonwealth sells off New World to West Brom

    28 Mar 2002

    Commonwealth Bank of Australia is pulling out of the UK residential mortgage market after just over a year and is selling its NewWorld business to West Bromwich Building Society. The bank says after reviewing development opportunities in the UK it has decided to concentrate on fund management, under the First State Investment brand, and institutional banking. NewWorld unveiled its range of flexible and buy-to-let mortgages, sold mainly through intermediaries, in Nov-ember 2000 ...

  • Co-op fixing for 10 years at 5.69%

    28 Mar 2002

    The Co-operative Bank is offering a 10-year fixed-rate mortgage which offers flexibility in repayments and ecologically friendly features. The rate is fixed at 5.69 per cent until April 30, 2012 and is available for loans up to 95 per cent loan to value. Interest is calculated on a daily basis. If the loan is used for a remortgage, the bank will pay legal and valuation fees. Borrowers can set up a flexible fund which can be used to pay off up to 5 per cent of the mortgage balance ...

  • Credit Agricole courts retail investors

    2 Apr 2002

    Credit Agricole Asset Management, part of the French banking group, has opened its institutional CA Funds Europe equity research fund to retail investors.

  • Cross-party condemnation for 'unworkable' pension credit

    28 Mar 2002

    The Government has been subjected to an attack from MPs of all parties over its pension credit plans which they claim extends the principle of mass means-testing of pensioners. In a joint statement from Labour MP Frank Field, Shadow secretary of state for work and pensions David Willetts and Liberal Democrat pension spokesman Steve Webb, the Government is criticised for creating a new era of state dependency. The credit has been called "unworkable" and "eye-wateringly complicated" ...

  • David Aaron appoints new sales manager

    2 Apr 2002

    IFA The David Aaron Partnership, have appointed Ewan Boyle as their new sales manager.Boyle joins the firm that has doubled its numbers of RIs to 15, a move which the firm claims is in response to the popularity of its quarterly publication, Invest It. Chairman David Aaron says: "Ewan's appointment will help consolidate our position and create a platform to expand our advisory arm still further."

  • Deutsche Asset becomes DWS in retail rebranding

    28 Mar 2002

    Deutsche Asset Management is to rebrand as DWS Investments in a major relaunch into the UK retail market this year. The move comes as DAM completes its acquisition of institutional giant Zurich Scudder Investments and overhauls its investment management process, which will see the creation of 15 global sector teams, acting as a base for all global retail and institutional fund management. In the UK market, DWS will convert its range of unit trusts to Oeics and launch a new range ...

  • Don't invest in tech funds says tech fund manager

    27 Mar 2002

    Steve Martin, fund manager of Royal & Sun Alliance's Investments Eurotech Fund, is warning investors to stay away from his fund and sector for the near future.

  • Dough a dear

    28 Mar 2002

    In the run-up to the end of the tax year, advisers will be concentrating a great deal of time and energy on financial planning. The slogan "use it or lose it" neatly describes the focus of much of their activity. This year, pensions can get in on the act in a way that has not been possible before. Now is the time for those who can take advantage of the £3,600 annual allowance to do so before they lose out. It became clear during the consultation stage on stakeholder pensions ...

  • Downing Corporate Finance - Downing Nurseries

    28 Mar 2002

    Thursday, March 28, 2002 Type: Enterprise investment scheme Aim: Growth by investing in 12-15 nurseries Minimum investment: Lump sum £2,500 Opening/closing date: March 18, 2002/April 5, 2002 for 2001/2002 tax year, May 30, 2002 for 2002/2003 tax year Charges: Initial up to 6.5%, annual up to 3.75% Commission: Initial 2.5% Tel: 020 7411 4700

  • Downing EIS nurtures day nurseries

    27 Mar 2002

    Downing Corporate Finance has unveiled the Downing nurseries enterprise investment scheme (EIS), which aims for capital growth by investing in children's day nurseries.

  • Dresdner goes through a phase

    27 Mar 2002

    DRESDNER RCMGILT TO EQUITY ISAType: Unit trust and Oeic maxi IsaAim: Income and growth by investing initially in the gilt yield trust, and then in the UK equity fund or UK equity income trustMinimum investment: £7,000Maximum investment: £7,000Catmarked: NoInvestment choice: Gilt yield trust and then choice of UK equity fund and UK equity income trustCharges: Initial 3%, annual gilt yield trust 0.5%, UK equity fund ...

  • Dresdner goes through a phase

    27 Mar 2002

    DRESDNER RCMGILT TO EQUITY ISAType: Unit trust and Oeic maxi IsaAim: Income and growth by investing initially in the gilt yield trust, and then in the UK equity fund or UK equity income trustMinimum investment: £7,000Maximum investment: £7,000Catmarked: NoInvestment choice: Gilt yield trust and then choice of UK equity fund and UK equity income trustCharges: Initial 3%, annual gilt yield trust 0.5%, UK equity ...

  • Dual controls

    28 Mar 2002

    Is Halifax right not to compensate all borrowers affected by "dual pricing" following the ombudsman's ruling and just pay out to customers it had received complaints from? Bolton: Halifax did not automatically move customers from one interest rate to another. Customers applied to do that because they had to change their interest calculation at the same time. The ombudsman ruled that that was the sens-ible and practical thing to do so they could sign new terms and conditions. Therefore, ...

  • Employers 'are the real threat' to falling provision

    28 Mar 2002

    The Government has denied that pension provision in the UK is in crisis but says falling contributions from employers are the real threat to savings. Speaking at the Financial Services Forum about fears of a pension abyss as a raft of companies shut their final-salary schemes, Treasury economic secretary Ruth Kelly claimed many people are better off in defined-contribution schemes. She said final-salary schemes are really only beneficial to people staying with the same employer ...

  • EU-turn puts defined payment in jeopardy

    28 Mar 2002

    The European Commission has reversed plans to make investment advice fee-only in a move that undermines a key argument in the FSA's CP121 proposals for a defined-payment system. The FSA used EU legislation to justify its arguments for change in CP121. The draft of the key investment services directive says investment advice should be subject to EU-wide harmonisation and is defined as a core service. This could leave FSA proposals for the DPS out of step with European practice. The ...

  • Family tickles the fancy of investors

    28 Mar 2002

    Family Assurance is using children's cartoon favourites the Mr Men to promote its tax-free junior bond. The move follows the society reaching an agreement with entertainment licensing agency, the Copyright Promotions Licensing Group, to use the characters in its promotions. From April, Mr Tickle and friends will appear on one million creative inserts and 125,000 direct-mail packs to promote the tax-exempt bond, which is aimed at parents looking to save at least £10 a month ...

  • Female firm sets up with Millfield

    28 Mar 2002

    A breakaway all-female IFA firm, Finance 4 Women, is being set up by four former Fiona Price & Partners advisers under the Millfield Associates Partnership scheme. Fiona Sharp, Catherine Haines, Karen Ritchie and Toni Chalmers have 35 years financial services experience between them. They are launching F4W in Cambridge this week, targeting business and professional females in East Anglia and London. It is part of Millfield JP Associates, which has 15 registered individuals ...

  • Fidelity flies high in Isa tables but caution remains

    28 Mar 2002

    Top 10 ISA sellers in February 1. Fidelity special situations 2. Credit Suisse income 3. Fidelity European 4. ABN Amro high income 5. Newton managed 6. Invesco Perpetual corporate bond 7. Newton higher income 8. Fidelity American 9. ABN Amro UK growth 10. Framlington health Source: Skandia Fidelity is on course to top this season's IFA Isa sales tables after accounting for three of the top 10 sellers via Skandia's fund supermarket in ...

  • Fidelity pinpoints Isa blunders

    28 Mar 2002

    Fidelity has compiled a list of the most common Isa application errors to help IFAs ensure that last-minute investments are processed trouble-free. It says that 18 per cent of Isa application forms received by it and FundsNetwork have one or more error and cannot be processed automatically. Fidelity says the end of the tax year is often the time when the error rate is at its highest. The most common error is not indicating whether the investor is choosing a mini or maxi Isa. The ...

  • Flight says multi-ties will damage consumers

    28 Mar 2002

    Multi-ties will result in investors being sold expensive, ill-suited products because multi-tied agents will not offer best advice, according to Shadow Paymaster General Howard Flight. At the Financial Services Forum, Flight told Treasury economic secretary Ruth Kelly that the FSA's proposals will damage consumers across the spectrum. He said the middle-classes will lose out because tied agents will go multi-tied and sell products with the highest commission as they will not ...

  • Framlington World Cup challenge

    28 Mar 2002

    The league table receives another shake-up in the fourth week of the Framlington Investment World Cup Challenge. In the race for the title is Mark Timmons' Marked Card team with an overall gain of 9.98 per cent. Hot on his heels is Brian Ward, whose Guildhouse 2000 team is only 0.28 per cent behind. But will any of this week's leaders be the lucky winner of the first monthly prize? Don't forget to check Money Marketing on Thursday, April 4 to see if you have won a football ...

  • FSA not listening to IFAs' views

    28 Mar 2002

    Having read a good deal of the of debate on CP121, it is beginning to emerge that CP121 is very much less a consultation paper than a declaration of intent. The one thing emerging above all others is that the FSA is emphatically not an open-minded or listening regulator (despite its claims to be). It has its own particular agenda for change (flimsily disguised as "reform") and uses all manner of disingenuity to cast aside any argument that its plans, when implemented, will muddy ...

  • FSA patrols high street on loans and general cover

    28 Mar 2002

    The FSA is setting up a high-street division with responsibility for the regulation of mortgages and general insurance. The division will be in operation from April 2 and will have three principal responsibilities - designing policy for the regulation of the mortgage and general insurance sectors, authorisation of firms active in those sectors and the supervision of intermediaries. The FSA says it does not know if it will include responsibility for non-life protection products ...

  • Gearing up for Tep deals

    28 Mar 2002

    Tep market maker Policy Portfolio is publishing a guide explaining to IFAs the gearing process which enables investors to get more Teps for their money. Policy Portfolio says gearing is a relatively simple process but it believes it is a concept not many IFAs understand. It says UK and offshore banks will often lend up to 90 per cent of the surrender value of an endowment product, which lets investors combine their investment capital with a bank loan to buy more policies than would ...

  • GMAC-RFC adds Leeds & Holbeck for through loans

    28 Mar 2002

    Mortgage lender GMAC-RFC has added Leeds & Holbeck Building Society to its through lending programme where one lender markets a loan and sells it to another on or just before completion. Market Harborough was the first society to sign up for the programme last year which is used as a way to increase product ranges and give purchasing lenders completed assets with no pre-completion processing or distribution costs. The first product being launched with Leeds & Holbeck is ...

  • Halve pension charges to 0.5%, says thinktank

    28 Mar 2002

    The financial services industry is "bloated", "overstaffed" and "overpaid" and pension charges should come down to 0.5 per cent, according to right-wing thinktank the Adam Smith Institute. Speaking at last week's Pensions Management Conference in London on the future of retirement saving, director of special projects Matthew Young spelled out a tough challenge to the industry. He claimed the market is not working and is overcharging, underperforming and riddled with complexity ...

  • Hargreaves Lansdown puts hypermart on net

    28 Mar 2002

    Hargreaves Lansdown is setting up its HL Vantage fund hypermarket online after bringing in £1bn under management in its first year in operation. The site, which is claimed to offer investors all unit trusts, Oeics, investment trusts and shares on the market, will be available online through the website HargreavesLansdown.co.uk The service will offer IFAs and investors access to all the funds and functions of the offline hypermarket. It will feature daily comment and fund ...

  • Hay opens online IFA service

    2 Apr 2002

    James Hay Pension Trustees have launched a new internet service for IFAs and Sipp members. Users of James Hay Online will be able to access their details via a secure website at any time. It will feature current and historic bank details, asset values and holdings, withdrawal options, personal details and transfer and contribution information. It is mainly intended for the use of IFAs who introduce clients to James Hay. 

  • HSBC - Performance Plus Isa

    2 Apr 2002

    Wednesday, 2 January 2002.Type: Capital protected Tessa only Isa.Aim: Growth linked to the FTSE 100 index.Minimum-maximum investment: £3,000-£9,000.Investment choice: 100 per cent linked to FTSE 100 index.Term: Five years.Guarantee: Capital returned in full at end of term.Return: Up to 50 per cent at end of term.Catmarked: No.Closing date: Until further notice.Charges: Implicit.Commission: ...

  • Hubbub about the hub

    28 Mar 2002

    In my earlier articles, I looked at specific areas of an IFA's business to suggest ways in which technology, if used efficiently, can yield up to 80 per cent time savings. For this final article in the series, I thought it might be interesting to look to the near future to the developments in technology that will improve the efficiency of the industry for client-servicing and new business submission. All back-office systems will shortly be out of date. This is a radical statement ...

  • IFAP guides the way to getting on the net

    28 Mar 2002

    IFA Promotion has published the third edition of its guide to help IFAs get their business online and make the most of an internet presence. IFAP itself has seen the number of online referrals increase dramatically over the past two years with 70 per cent of enquiries now handled on the internet. It says that only around 41 per cent of its members have established themselves online. The guide sets out to help anyone starting out with the internet, what factors should be considered ...

  • IFAs warn Kelly annuities are big disincentive to pension savings

    28 Mar 2002

    The Government came under fire over its plans to reform the annuity regime at a public forum in London last week, with its critics claiming they will do nothing to motive people to invest in pensions. The proposals would allow transfers between advisers and a limited period annuity but do not change compulsory purchase at 75. Speaking at the Financial Services Forum, Treasury economic secretary Ruth Kelly defended the annuity proposals. She claimed they are designed to provide ...

  • Independent view: Donna Bradshaw

    28 Mar 2002

    There have been a couple of occasions when I have been scratching my head trying to think of a topic to write about for this column - not this time. Of all the hot potatoes around at the moment, as an IFA it is hard to get away from CP121 as a subject for comment, so I will not try. Many in the IFA community do not welcome the proposals. About three-quarters see no positive aspects at all and would be happy to leave things as they are. I sit with the lonely but I believe in the ...

  • Inside edge: Tony Kempster

    28 Mar 2002

    So, how does a life company get to be market leader in the IFA market? We have seen product providers come and go but some seem to go on forever. Standard Life, for example, have created an awesome franchise in the IFA market over many decades. It puts me in mind of a story from Cambridge. American tourists admiring the immaculate lawns at Jesus College would ask the groundsman: "What do I have to do to have a lawn like that back home?". To which the groundsman would reply: "It is ...

  • Inter-Alliance to go 90 per cent AFA

    27 Mar 2002

    Inter-Alliance has indicated 90 per cent of its IFAs will become authorised financial advisers if CP121 is adopted as drawn. The national IFA said it would structure itself in a way that suited its advisers, and indicated only 10 per cent would remain IFAs working under defined payment agreements post-polarisation.

  • Investment analysis

    28 Mar 2002

    It was another subdued week for glo-bal equity markets as investors diges-ted the latest batch of economic data, further concerns over corporate earnings as well as the news that the US Federal Reserve had shifted its policy bias from easing to neutral. In the UK, the FTSE 100 was unable to break free of the 5,000-5,370 it has been languishing in since last October, with the index ending 0.8 per cent lower in spite of better than expected news on unemployment and average earnings. ...

  • Investment update

    28 Mar 2002

    Rothschild Asset Man-agement is in talks to buy the £20m fund of funds business from IFA network Misys. The deal will take RAM's Fof assets from £99m to £119m, consolidating its position as the biggest retail multi-manager group in the UK. RAM says it is likely to merge the three funds into its three Five Arrows multi-manager funds. Dresdner RCM's Charter European investment trust, which fought off a hostile bid from Henderson this month, is to wind up ...

  • Investment view

    28 Mar 2002

    About now, I should be commenting on the measures introduced by the Chancellor in his Budget. This year, we will have to wait until after the start of the new tax year before we learn what is in store. There is nothing sinister in this. The Chancellor's personal tragedy denied him the opportunity to start the investigative process in due time, so the Treasury pushed back the date to allow adequate consultation. Whatever he says, it is unlikely there will be much in the way of good ...

  • Is the price right for IFAs?

    28 Mar 2002

    What is an IFA worth? That is the question that many investment analysts, life offices and IFAs themselves are exercising themselves with as the dash for distribution gathers pace. Institutional investors want pure investment returns wher-eas life offices are making valuations complicated by the added value they hope to get by securing distribution in a depolarised sales environment. Lighthouse last week reversed into Berkeley Wode-house, whose network has 199 members in 150 firms, ...

  • JO Hambro introduces performing fees on Isa wrapper

    28 Mar 2002

    JO Hambro Capital Management is set to bring performance-related char-ges to the mainstream retail market with a new Isa wrapper for its Dublin-based fund range. JOHCM made its first major push into the retail arena in November, with the launch of four open-ended funds - the European, UK growth, UK emer-ging companies and UK recovery funds. Based on its belief that the best performance can only come from truly motivated managers, the group was keen to launch funds with performance ...

  • Julian Gibbs

    28 Mar 2002

    Exeter, the investment trust specialist, has a unit trust which has hardly ever been publicised and has excellent past performance. Richard Scott, the outstanding manager of the Exeter global opportunities fund, has produced a return of over 96 per cent over the five years to February 1, 2002 - more than 20 per cent better than the top-performing global growth investment trust. The unit trust invests in a wide spread of investment trusts including some run by Invesco Perpetual, ...

  • Keith Carby

    28 Mar 2002

    Lives: Near Swindon, Wiltshire Born: September 14, 1946 Age: 55 Education: Swanwick Hall Grammar School, Derbyshire, first in chemistry from Hull University, postgraduate courses at three other universities. Career: Research Assistant, London University, 1973-75, executive at Institute of Personnel Management, 1975-77, assistant director Ashridge College, 1977-81, Hambro Life/Allied Dunbar 1981-90, J Rothschild 1991-98 Career ambition: To make Inter-Alliance what it ...

  • KPMG to weigh up ABI/BBA merger

    28 Mar 2002

    The ABI and British Bankers Association have taken a step closer towards merging after employing consultancy KPMG to consider the pros and cons of such a move. While both the ABI board and BBA council support a merger in principle, they have asked the consultancy to report back with its suggestions by the summer, at which point they will make a recommendation to their memberships and put the proposals to a vote. KPMG will be considering whether, in light of increasing consolidation ...

  • Kreis Consulting - Independent Pharmacy Care Centres plc

    2 Apr 2002

    Tuesday, 2 April 2002Type: Enterprise investment schemeAim: Growth by investing in 30 - 40 pharmacies in the North of EnglandMinimum investment: Lump sum £25,400Opening/closing dates: April 6, 2002 - November 30, 2002 Charges: ImplicitCommission: Initial 2.5%Tel: 0141 564 1529

  • Kreis Consulting - LICA VII

    27 Mar 2002

    Wednesday, 27 March 2002Type: Enterprise investment schemeAim: Growth by investing in unquoted companies involved in industrial innovation, media innovation, technology and new media Minimum investment: Lump sum £25,400Opening/closing dates: March 7, 2002 - April 5, 2002 for 2001/2002 tax year, April 6, 2002 - May 31, 2002 for 2002/2003 tax yearCharges: ImplicitCommission: Initial 3%, renewal 0.375%Tel: 0141 564 1529

  • Kreis Consulting - Tomahawk Pubs plc

    27 Mar 2002

    Wednesday, 27 March 2002Type: Enterprise investment schemeAim: Growth by investing in up to 11 pubs within the M25Minimum investment: Lump sum £3,000Opening/closing dates: March 15, 2002 - April 5, 2002 for 2001/2002 tax year, April 6, 2002 - October 31, 2002 for 2002/2003 tax yearCharges: ImplicitCommission: Initial 2.5%Tel: 0141 564 1529

  • Kreis crosses pub EIS road

    28 Mar 2002

    Kreis Consulting has introduced tomahawk pubs, an enterprise investment scheme that aims to produce income and capital growth through the purchase and development of London pubs.

  • Kreis dispenses EIS

    2 Apr 2002

    Kreis Consulting has introduced an enterprise investment scheme (EIS) that aims to produce income and growth by investing in between 30 and 40 established independent community pharmacies in the North of England.The independent pharmacy care centres EIS focuses on pharmacies in the North of England because they tend to be NHS-based businesses, while those in the South of England usually operate on a retail model. NHS-based pharmacies have been chosen because they can be developed ...

  • L&G links portfolio plan to 30 UK blue-chip stocks

    28 Mar 2002

    Legal & General is introducing a five-year capital-protected investment with growth linked to a portfolio of 30 stocks from the UK's top 200 companies.The protected portfolio III fund is available until April 12 and allows investors to take advantage of two years' Isa allowance if the investment is received before the end of this tax year.It is available as a maxi or mini Isa, share investment or Pep transfer. It can also be held in an Ssas or a Sipp.If held to maturity in ...

  • L&G roll out third protected portfolio

    28 Mar 2002

    Legal & General has introduced the third issue of protected portfolio, a capital protected Isa that has a five-year term.

  • L&G takes steps in bid to boost with-profits bonds

    28 Mar 2002

    Legal & General is offering a step-by-step guide to with-profits bonds in to boost the popularity of the investment among the public. The guide, which has been awarded a crystal mark by the Plain English Campaign, covers areas such as the history of with-profits bonds, what they are and what they aim to achieve. It explains what type of investor they are suitable for, risks and rewards and impact of charges and early redemption. The guide also includes what investors need to ...

  • Landlords expand buy-to-let holdings

    28 Mar 2002

    The number of experienced buy-to-let landlords is growing, with many intending to increase their portfolios in the next year, according to the Paragon mortgage property investor confidence tracking index. On average, buy-to-let landlords questioned by the survey expect to expand their portfolios by 25 per cent to six properties over the next 12 months and expect them grow in value by 10 per cent over the year. The survey reports that 71 per cent of buy-to-let landlords have more ...

  • Late show in full swing as March Isa sales leap

    28 Mar 2002

    The UK "faces another Isa gold rush", with 2.7 million people set to take out an investment Isa before the end of the tax year, according to Egg. It says its research between March 19 and 21 reveals that up to 6 per cent of the adult population plan to put money in a stocks and shares Isa by April 5. Egg claims the survey of 1,014 people supports its own figures which show sales of Isas jumped by 47 per cent in the first three weeks of March compared with the same period in February. The ...

  • Legal threat aims to end stand-off over DBS fee hike

    28 Mar 2002

    Solicitors for DBS members' Network Action Group are threatening legal action to stop a 30 per cent fee hike. Nottingham solicitors Fraser Brown will tell DBS this week it must hold off introducing its new price structure in April or face injunction proceedings. NAG says it will sue DBS on grounds of competition, arguing the price rise is unfair because Misys has control over a substantial proportion of networks and that it failed to consult DBS members. If DBS does not ...

  • Liddell praises and damns industry on pension review

    28 Mar 2002

    Former Treasury economic secretary Helen Liddell has congratulated the industry on resolving the pension review. In a speech to the CII president's annual dinner in London last week, Liddell, now Secretary of State for Scotland, said she was pleased the industry had faced up to its obligations. But she regretted that it took heavy persuasion to convince many to do so and wished she had never had to intervene in the first place Liddell claimed to have set up the pension review ...

  • Lighthouse in spat with broker

    27 Mar 2002

    Lighthouse Group clashed with broker Seymour Pierce after it gave the Aim-listed IFA a sell rating saying it was spending 23 per cent of £2.2m raised cash to pay for the fundraising itself. Lighthouse pointed out the figure also included the costs of its reverse take-over of Berkeley Wodehouse Associates and Seymour Pierce corrected its note after the threat of legal action.

  • Liontrust screens stocks to beat index

    28 Mar 2002

    Liontrust Asset Management is looking to bridge the gap between passive and active fund management with an innovative quantitative-screened index fund. Indextra will track the FTSE 100 index, omitting any stocks which fail either of two quantitative tests. The first screen tracks rolling three-month earnings' forecasts from a range of analysts, taking note of whether a stock has received more upgrades than downgrades and eliminating those which fall into the latter category. The ...

  • Loan overpayments 'better than Isas' for savers

    28 Mar 2002

    Making overpayments into a mortgage is a better savings option for cautious investors than putting money in an equity-based Isa, according to Virgin One. A savings study by Virgin compares what returns can be achieved from both options. It identifies three types of saver and what they should look for in an investment. According to its calculations, overpaying £50 a month into a 25-year mortgage at an interest rate of 5.2 per cent saves the borrower £12,058 in interest ...

  • London housing boom continues says index

    2 Apr 2002

    London's housing boom is fuelling its own demand, according to the latest London specific housing index.

  • Making pensions add up

    28 Mar 2002

    The UK is hurtling further into a pension crisis. The objective of reducing state retirement funding appears impossible with the Government's policies. The NAPF recently said three out of every four companies offering final-salary pension schemes are considering withdrawing them because of increased funding requirements due to the reduction in tax relief and new accounting standard FRS17. This requires any pension funding deficit to be shown on the sponsoring company's ...

  • Mercantile Building Society three-year discount

    29 Mar 2002

    Mercantile Building Society three-year discount

  • Mortgage Express five-year buy-to-let fixed

    28 Mar 2002

    Mortgage Express five-year buy-to-let fixed

  • Mortgage Express five-year fixed

    27 Mar 2002

    Mortgage Express five-year fixed

  • Mortgage Express one-year buy-to-let fixed

    28 Mar 2002

    Mortgage Express one-year buy-to-let fixed

  • Mortgage Express one-year buy-to-let fixed

    28 Mar 2002

    Mortgage Express one-year buy-to-let fixed

  • Mortgage Express two-year fixed

    27 Mar 2002

    Mortgage Express two-year fixed

  • Movision site explains film finance for IFAs

    28 Mar 2002

    Film partnership manager Movision Management has set up a website to help IFAs understand film financing as an investment and its tax benefits. Movision has been making presentations to IFAs about investing in films and says many are confused by the variety of schemes on offer and their tax and investment benefits. It believes IFAs do not fully understand the difference between film schemes aimed at tax deferral and those which combine tax savings and equity investment. It fears ...

  • N&P encouraging environmental housebuilding

    27 Mar 2002

  • New forum aims to give IFAs tech voice

    28 Mar 2002

    Leading IFAs have teamed up with the Financial Technology Research Centre to create a new body aimed at improving the way advisers interface with life offices. The Adviser Technology Forum, headed by FTRC director Ian McKenna and backed by several major IFAs, aims to bring IFAs together to agree common technology needs and present product providers with a single view. McKenna says the ATF will assist the work carried out by life and pension technology standards body Origo, which ...

  • Norwich Union - Future Assured Plan

    2 Apr 2002

    Tuesday, April 2, 2002 Type: Future needs long term care plan Minimum premium: £20 a month/£200 a year/£3,000 lump sum Minimum-maximum benefit: £200 a month, £2,400 a year - £3,333 a month,£40,000 a year Minimum-maximum ages: 17-80 regular premiums, no maximum for lump sum Cover provided: Blue - on failure of one ADL an independent living benefit of three times the monthly care benefit is ...

  • NU and Age Concern launch flagship LTC plan

    28 Mar 2002

    Norwich Union and Age Concern Financial Partnerships have upped the stakes in their bid to jointly control the long-term care market by launching a new flagship product. The Future Assured plan allows policyholders to make a claim for specialist equipment even if they fail only one activity of daily living, while NU says other providers require at least a failure of two. There are three types of care cover - Blue which pays full benefit on the failure of three ADLs, Silver which ...

  • Outside edge: Graeme Laws

    28 Mar 2002

    The problem just will not go away. This generation is going to live longer than the last. The Government says it wants to rebalance the burden of providing incomes to people who have retired. It wants less reliance on the state or, more properly, the taxpayer, and more on the individual. It is hard to put facts and figures on what is really happening. We know that a brand new defined-benefit scheme is about as rare as a week without a new Government initiative. We know that existing ...

  • Parliamentary group castigate Tiner

    27 Mar 2002

    FSA managing director John Tiner received a grilling from a group of MPs last week at a meeting where he was told Parliament did not approve of the regulator's plans for polarisation.

  • Pension world is full of unmarried couples

    28 Mar 2002

    In my last article, I started to visit or revisit a number of pension developments relating to sexual relationships, in particular, the rights of partners of pension scheme members to benefits from that scheme. I would now like to develop this theme away from the issue of part-timers - involving sex discrimination, primarily against women, who form the majority of our part-time workforce - and on to the issue of unmarried couples of the same or opposite sex. Fundamentally, this ...

  • Pink chalks up loans on Clean Slate

    2 Apr 2002

    Pink Home Loans has added three new rates to its sub-prime product range funded by specialist lender Mortgage Express.

  • Positive Solutions plans growth and AFA switch

    28 Mar 2002

    Positive Solutions has signalled that it will cease to be an IFA and become an auth-orised financial adviser. The firm, which increased its RIs to 455 in 2001 from 227 the previous year, is planning further growth by targeting advisers in national IFAs. Chief executive David Harrison told the AGM that Positive Solutions might brand its advice as impartial or individual if commission-based advi-sers were prevented from called themselves independent, as proposed by the FSA's in ...

  • Private equity or hedge funds?

    28 Mar 2002

    The Alternative Investment Summit is a forum providing investors with the information they need when considering investing in private equity or hedge funds. Industry experts will cover a range of issues including understanding long/short strategies, risk-management in a multi-strategy fund and how to build your own hedge fund portfolio. Other subjects include the entry of hedge funds into the mainstream and hedge funds of funds. Speakers at the two-day conference will include HSBC ...

  • Product matters

    28 Mar 2002

    The ABI critical-illness working party reports in May on issues threatening the future of critical-illness insurance. In the meantime, UnumProvident has come up with a positive prognosis for the market in the shape of a revolutionary new product, Elixia123. The original critical cover proposition was simple. A lump sum would be payable on diagnosis of a short list of life-threatening conditions. Competition extended the list of illnesses and conditions while medical advances lessened ...

  • Professional trio close in on merger goal

    28 Mar 2002

    A merger between the three IFA professional bodies appears to be closer, with key figures saying they would welcome the move. Sofa, the LIA and the Institute of Financial Plan-ning are talking of the prospect of closer co-operation, saying industry iss-ues such as depolarisation and the Sandler review make it essential for them to speak with one voice. The LIA and the IFP say that the three bodies have been in talks for some time, with the only obstacles remaining being practical ...

  • Professionals ponder a new blend

    28 Mar 2002

    A possible alliance of the various professional financial services bodies has once again bubbled to the surface. A new impetus seems to have arrived since the resignation of LIA chief executive Jeff Travis but the fact that the LIA, the IFP and Sofa are looking towards each other is more to do with industry issues. Syndaxi Financial Planning principal Robert Reid says: "I think Travis is largely irrelevant. What influences the shape of the trade bodies is not an individual but ...

  • Pru rebrands ScotAm European

    28 Mar 2002

    The Scottish Amicable European brand is being scrapped by Prudential. After scrapping the onshore brand, Pru is rebranding SAE as Prudential International and launching a new offshore with-profits bond. SAE was set up in its Dublin base in 1994 to market back into the UK. The phasing out of the onshore ScotAm name began last year although Scottish Amicable Life Inter-national, which markets into Germany, retains its name. The bond launch comes after Scottish Equitable International's ...

  • R&SA signs five firms for fund links

    2 Apr 2002

    Royal & Sun Alliance is teaming up with five fund managers to launch external fund links on its online pensions solutions product range.

  • Remortgages fall from new year's record level

    28 Mar 2002

    Despite a decline in remortgaging, sales of mortgages remained strong in February, according to the Council of Mortgage Lenders. The monthly survey by the CML and the Depart-ment of Transport, Local Government and the Reg-ions reveals that remortgaging fell to £5bn from its record level of £5.6bn in January. It now accounts for 38 per cent of total lending, down from 42 per cent. But the level of remortgaging is still higher than in February 2001, when it made up £3.5bn ...

  • Reregister now or lose out, warns Cofunds

    28 Mar 2002

    Cofunds is warning that IFAs should act quickly to reregister clients on the platform or risk losing out to more technologically advanced competitors. It follows the recent launch of reregistration services by FundsNetwork and Cofunds which allow IFAs to easily transfer clients' existing assets on to the platforms. IFAs using the service automatically take any trail commission which may have previously been payable to another adviser. IFAs will also gain trail commission on ...

  • Retailers could take over distribution, says survey

    28 Mar 2002

    Financial services companies need to keep their finger on the pulse or risk losing ground to new entrants to the sector, according to a report from market analyst Datamonitor. In the report, New Entrants in European Financial Services 2002, Datamonitor says the greatest threat comes from traditional retailers with big customer bases which enter into relationships with financial product providers looking to take advantage of their distribution capabilities. It says companies from ...

  • Royal & SunAlliance International Financial Services - R&SAIM European Balanced Yield Bond Fund

    27 Mar 2002

    Wednesday, March 27, 2002 Type: Offshore fund Aim: Income and growth by investing in investment grade and high yield bonds Minimum investment: Lump sum £15,000 Place of registration: Isle of Man Investment split: Investment grade bonds 50%, high yield bonds 50% Yield: 8.5% gross a year Isa link: No Charges: Initial 0.5% a quarter for six quarters, annual 0.8% for first five years Commission: Initial ...

  • Royal London axes 250 direct sales advisers

    28 Mar 2002

    Royal London is to undergo a major restructuring over the next three years, moving into the unregulated market and slashing 250 advisers from its direct salesforce. In anticipation of a liberalisation of the market for financial advice, Royal is reducing the number of its existing advisers to 450 from 700 but launching a new salesforce which will exclusively sell unregulated products. It hopes the new salesforce will grow into the second tier of adviser that the FSA has proposed in ...

  • Royal London emerges as main bidder for Britannic

    28 Mar 2002

    Royal London has emerged as the leading candidate to acquire Britannic amid industry speculation that Britannic is struggling to attract a buyer or merger partner. Britannic chairman Harold Cottam effectively put the company up for sale earlier this month after a fall in operating profits to £101.6m from £174.5m, taking into account a £43.8m write-off at mortgage arm Britannic Money. But it is understood that Royal London is the only product provider that has ...

  • ScotEq Fof aims to cut pension risk

    28 Mar 2002

    Scottish Equitable is offering a new fund of funds for its pension contracts which will give investors a risk-graded strategy in the run-up to retirement. The Universal Lifestyle Collection gradually shifts investment strategy into long gilts to protect investors against performance downturns. The Lifestyle Collection fund offers access to five external managers - Baillie Gifford, Deutsche Asset Management, Merrill Lynch, New-ton and SG Asset Management without additional costs. In ...

  • ScotEq Protect adding online quotes to menu

    28 Mar 2002

    Scottish Equitable Protect is offering an online service which allows IFAs to get immediate quotes on its range of protection products. The service is available on ScotEq's website and includes quotations for its menu-based personal, mortgage and business protection products. To promote the service, ScotEq Protect is running a series of banner adverts on a number of IFA portals. It says it has developed the service in response to demand from IFAs and hopes it will be valuable ...

  • ScotMut boosts first-year bonus on big with-profits investments

    28 Mar 2002

    Scottish Mutual is improving the terms on its with-profits investment bond for investments of £20,000 or more by increasing initial bonuses by 1 per cent until the end of May. On investments between £20,000 and £49,999, the additional guaranteed bonus is increased to 3.25 per cent from 2.25 per cent. For investments of £50,000 and upwards, it rises to 3.5 per cent from 2.5 per cent. The additional bonus on investments between £15,000 and £19,999 ...

  • Scottish Mutual Intl takes WP plan into Germany

    28 Mar 2002

    Scottish Mutual International is taking its guaranteed with-profits plan into the German market for the first time. The plan has a choice of investment return guarantees ranging from 117.5 per cent of the original investment after eight years to 135 per cent after 15 years. As a special offer, SMI is increasing the allocation rate by 1 per cent for investments of euro75,000 to euro149,999 and 3 per cent for sums over euro150,000 for applications received by June 11. Regular ...

  • Simple solutions

    28 Mar 2002

    Headlines such as "pensions in crisis" may catch the eye but maybe it is time to move on and make concrete proposals about how to deal with the fundamental issues of longer life expectancy and modest long-term returns on saving. The Institute for Public Policy Research believes that a key piece of the puzzle is a simple, stable, flat-rate state pension to work effectively alongside private provision. The Government is in the process of steering the Pension Credit Bill through Parliament. ...

  • SLI appoints new communications team

    27 Mar 2002

    Scottish Life International has made two new appointments to its communications team.Mark Whittet is the new communications manager. He was group press officer at British Energy and previously worked as a journalist with The Sunday Times, PR Week and The Herald.Debbie Storm joins as press officer after working at Scottish Widows and Standard Life.

  • Split sector starts on long road to recovery

    28 Mar 2002

    The split-cap investment trust crisis finally seems to be coming to a head. Last week, the industry saw another round of trusts suspend their dividends while several others fell into breach of banking covenants. Aberdeen Asset Management's share price, which seems to be directly linked to any bad sentiment in the split sector, plummeted to a six-month low last week. The company is now trading at around £2.50 a share, more than 60 per cent down on its January 2001 high of almost ...

  • Split-cap fund firms in move to cut fees

    28 Mar 2002

    Some of the most distressed split-cap trusts moved to put the brakes on the crisis this week by cutting or waiving their annual fees. The move comes in response to AITC director general Daniel Godfrey's letter to split trust chairmen this month, suggesting that trusts try to cut costs to stem the problems. Aberdeen Asset Management led the move, waiving fees on its high-income trust at the end of last week while BFS Investments and Martin Currie have cut the fees on their geared ...

  • Stakes and pains

    28 Mar 2002

    Now that I have set up a stakeholder pension for all the employees in my company, is there anything else I need to do? You are right to ask this question and it is an area that is causing concern with many of my clients. The hiatus of last year when the Government introduced the new stakeholder pension legislation has passed but there are several areas where we have to be particularly vigilant. There are three sections within your stakeholder pension - two where the company ...

  • Standard sales hit record high

    28 Mar 2002

    Standard Life's UK new business rocketed by 76 per cent last year to £6.3bn from £3.6bn, the strongest performance in the history of the company. Boosted by life and pension sales which almost doubled to £5.8bn from £3bn in the year to November, Standard's new business figures were its best since the mutual's launch more than 175 years ago. Over 90 per cent of the sales came through IFAs as Standard increased its share of the UK life and pension ...

  • Support in a storm

    28 Mar 2002

    Lending growth reached record levels last year, presenting great opportunities for lenders and intermediaries. But the survival of players in the mortgage arena was threatened by competition from new entrants coupled with the pressures of the sub-1 per cent world, the ongoing regulation malaise and the need to launch new products quickly. Despite the Treasury's decision to postpone N3, this year will see many of these pressures intensify and no doubt more will emerge. New tactics ...

  • Talkback

    28 Mar 2002

    "Yes. The more of us there are in one body the stronger we will become." Leslie Chare, Designalife "Yes. It is confusing for clients to see multiple qualifications - so, if not a merger, at least one qualification listing." James Coldicott, Coldicott Financial Services "I am not bothered. These bodies do nothing for the IFAs, do nothing for the clients, they only serve themselves.I think they all should go jump into the river. They do nothing for their money." Alan ...

  • Trustworthy investments

    28 Mar 2002

    Not putting all your eggs in one basket is one of the most enduring cliches of investment. The economic boom of Imperial Britain under Queen Victoria meant that a select few were becoming rich very quickly as a result of buying shares in companies that did spectacularly well. But stockmarket investments required considerable risk and personal capital. Philip Rose, Samuel Laing and James Mackenzie came up with the idea of offering shares in a collective vehicle that would invest ...

  • UCB sees big rise in self-cert loans

    28 Mar 2002

    Nationwide's specialist lender UCB Home Loans says it lent more than £1bn in self-certification loans last year as increasing numbers of workers became self-employed. UCB lent £1.12bn in 2001, up from £936,537 the previous year, with the number of mortgages completed rising by 12 per cent to 13,710 from 11,330. The increase in business means UCB has 46,273 loans totalling £3.6bn on its books. The average loan size was £96,300 against an average ...

  • Why should Whitehall dictate to our industry?

    28 Mar 2002

    Open letter to John Edwards, chief executive of Clerical Medical Clerical Medical was quoted in Money Marketing as saying"we should anticipate that the Sandier report will bring about a 20 per cent reduction in commission across the board". Other writers also portray this scenario as inevitable. Can you please explain how it is that the Treasury or regulators repeatedly dictate to a private industry like ours? Commission is nothing to do with compliance or regulation. ...

  • Widows shows how to save tax

    28 Mar 2002

    Scottish Widows is offering a toolkit to help IFAs capitalise on tax-saving opportunities for their clients' personal and stakeholder pensions. The Maximise the Tax Factor marketing pack is aimed at allowing IFAs to identify potential business while highlighting the tax benefits of pension savings. It contains information the benefits of a pension as a long-term tax-efficient savings scheme beyond short-term Isa allowances and using bond investments to make payments into a ...

  • Will Beckham get marching orders again?

    28 Mar 2002

    Will David Beckham be sent off in England's all-important Group F game against Argentina? The latest odds from William Hill have him at 33-1. William Hill also maintains Argentina as favourite to lift the trophy at 4-1, marginally ahead of France at 9-2 and then Italy at 5-1. England are sixth favourites, behind Spain and Brazil, with odds of 9-1. The bookies, however, give scant regard for the host nations. Despite convincing evidence that the tournament throughout its history ...

  • Win a trip to St Moritz with Winterthur Life

    28 Mar 2002

    To celebrate the launch of the Universal Sipp, Winterthur Life is offering IFAs the chance to experience Switzerland at its best by winning a week's holiday for two in the glam-orous resort of St Moritz. Set in the beautiful Engadine valley and visited by the world's rich and famous, St Moritz is high on the list when it comes to luxury. Fashionable and sophis-ticated, it is the resort for an exclusive winter sports holiday. Away from the slopes, visitors can enjoy a wealth ...

  • X marks the spot

    28 Mar 2002

    The UK's biggest mortgage lender, the Halifax, can certainly not be accused of avoiding controversy or keeping a low profile over the past few months. Along with HSBC and Nationwide, Halifax hit the headlines with the Financial Services Ombudsman's ruling that its dual-pricing policies introduced last year were unfair. Insult was added to injury for Halifax when Nationwide was seen to win a publicity coup with its decision to refund a total of £90m to 400,000 mortgage ...

  • Yorkshire Guernsey - 3 Year Stepped Rate Bond

    28 Mar 2002

    Thursday, March 28, 2002 Type: High interest account Aim: Income Minimum investment: Lump sum £5,000 Place of registration: Guernsey Yield: 5% gross until April 30, 2003, 5.5% gross from May 1, 2003 to April 30, 2004, 6.5% gross from May 1, 2004 to April 30, 2005 Isa link: No Charges: None Commission: None Tel: 01481 710150

  • ZFS sells European business to Generali

    27 Mar 2002

    Zurich Financial Services’ restructuring continues apace with a deal to sell its businesses in Poland, Hungary, Slovakia and Czech Republic to Generali.

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