Money Marketing
27 May 2010

  • £200K severance cash for Sprung

    27 May 2010

    Sprung: £174k salary

  • £535M slashed at DWP

    27 May 2010

    The coalition Government has set out plans to cut £535m from the Department for Work and Pensions, £670m from the Department for Education, £325m from the Ministry of Justice, £836m from the Department for Business, Innovation and Skills and £451m from the Chancellor’s departments. It will also cut £95m from IT budgets and £1.7bn from contract costs.

  • Advice opportunity

    28 May 2010

  • Adviser Fund Index

    27 May 2010

    The May rebalancing has thrown up a few surprises as panellists grapple with uncertainty.

  • Advisers back early access pension plans

    27 May 2010

    Advisers support the coalition Government’s plans to look into allowing early access to pension savings but warn that safeguards must be put in place to prevent savers raiding their pension funds too readily.

  • Advisers cheer end of 'chocolate teapot' Hips

    27 May 2010

    McBreen: ‘One less cost’

  • Advisers' first step towards legal fight with Park Row

    27 May 2010

    A group of 28 former Park Row advisers is taking its first step towards legal action against the former national IFA after mon-ths of being unable to service their clients.

  • AIA chief to quit if Pru deal goes ahead

    27 May 2010

    AIA chief Mark Wilson plans to quit if Prudential’s £24.5bn acquisition of the business goes ahead. The Financial Times reports that Wilson believes the proposed merger is “unworkable”.

  • All in this together

    28 May 2010

    The world of equity release advisers is often isolated, so it is important that there are support structures in place says Bridgewater’s Peter Welch.

  • Artemis UK growth fund to add shorting strategy

    27 May 2010

    Artemis UK growth fund manager Tim Steer is planning to start shorting stocks in his £322m fund next month.

  • ASA ban on chaser ad over unenforceable loans claim

    27 May 2010

    The Advertising Standards Auth-ority has banned an ad by a claim-chaser on missold mortgages for misleading statements about the proportion of loans that are unenforceable.

  • Aviva is committed to IFAs

    27 May 2010

    ADVICE

  • Backing for Legg Mason bond fund

    27 May 2010

    Legg Mason has had a verbal commitment from five funds of funds managers to invest in its new absolute return bond fund.

  • Be prepared

    28 May 2010

    News that Schroders star income duo Nick Purves and Ian Lance have quit the firm to join investment boutique RWC Partners has high-lighted the importance of succession planning.

  • Bleak house

    28 May 2010

    The panel debates how the Government will deal with illiquidity in a market that remains muted despite rising house prices

  • Broker-only Precise focuses on buy to let

    27 May 2010

    Cleary: ‘We will be cautious’

  • Care service review is delay tactic, says Saga

    27 May 2010

    Specialist advice firm Equity Care welcomes the commission to review funding for long-term care but Saga warns the move is just delaying decisions that need to be taken urgently.

  • Caught in a trap

    27 May 2010

    The pension age change has caused an unexpected problem says LV=’s Ray Chinn

  • Coalition setting up commission on LTC

    27 May 2010

    Osborne: ‘Create the most competitive corporate tax regime in the G20

  • Commodity value

    28 May 2010

    Swip’s Simon Wood says commodities provide real benefits for a well constructed investment portfolio.

  • David lloyd

    31 May 2010

    David Lloyd is hoping his name will become as synonymous with investment funds as it is with tennis and health clubs after moving into the world of self-invested personal pensions. Interview by Lee Jones

  • Defaqto guide helps advisers choose DFM

    27 May 2010

    Defaqto has published Letting Go, a guide to help advisers select a discretionary fund manager.

  • Direct deals from Co-op and Britannia

    27 May 2010

    The Co-operative Bank and Britannia are to launch a five-year fixed-rate mortgage direct-only mortgage at 3.99 per cent and a two-year fixed-rate homeloan at 2.95 per cent. There is a £999 fee and maximum loan to value of 75 per cent.

  • Economists question inflation projection

    27 May 2010

    Economists have challenged the Bank of England’s projection that inflation will fall below target next year, leaving question marks over the expectation that interest rates will remain low for some time.

  • F&C chief says uncertain market suits stockpickers

    27 May 2010

    Lees: ‘Exciting opportunities’

  • Fiscal factor

    31 May 2010

    The coalition’s Budget must lay the foundations for productivity growth and low inflation

  • FOS staff are not up to the task

    27 May 2010

    OMBUDSMAN

  • Free advice to cost industry £50m a year

    27 May 2010

    The coalition Government will set up a free national financial advice service, funded in full by the industry in the form of a social responsibility levy.

  • Friends hires merger specialist as director

    27 May 2010

    Richards: Track record

  • FSA TCF team sent from Scotland to London

    27 May 2010

    The FSA paid travel and accommodation costs to send two supervisors from Scotland on a TCF visit to a firm located just an hour’s tube journey from Canary Wharf.

  • FSSC says its work saves public cash

    28 May 2010

    Skills council looks to dodge Govt cuts and says scrapping QCDA would have no effect on RDR as exams are ofqual’s remit.

  • Goodbye mr hips

    28 May 2010

    The Government’s decision to suspend home information packs has prompted optimism in the industry. By Gregor Watt

  • Guessing game

    28 May 2010

    Don’t get sucked into trying to predict tax changes

  • Guilty by association

    27 May 2010

    THE EDITOR’S COMMENT OF THE WEEK

  • Henderson has eight dog funds after New Star deal

    27 May 2010

    Henderson has eight underperforming dog funds following its integration with New Star, the highest number of any fund group, according to the latest Bestinvest survey.

  • Hidden strengths

    1 Jun 2010

    Phil Jeynes says advisers should tap into neglected areas of CI, such as child cover, to lift sales.

  • High impact

    28 May 2010

    Lee Jones gauges opinion on the big increase in high loan to value mortgages and asks if the timing is right

  • Junior league major

    31 May 2010

    10 MINUTES WITH… ANGELOS DAMASKOS James Smith

  • Ken Clarke still to make grace and favour decision

    27 May 2010

    Lord Chancellor Ken Clarke has yet to decide whether he will take up his generous grace and favour pension.

  • LibDem Burstow in charge of long-term care reform

    27 May 2010

    Liberal Democrat MP for Sutton and Cheam Paul Burstow is to take responsibility for long-term care reform.

  • Liberum sees Ucits III threat to listed funds

    27 May 2010

    Investment bank Liberum Capital sees Ucits III funds of hedge funds as a threat to listed funds of hedge funds but believes the listed sector provides the only viable way to access illiquid investment strategies.

  • Life lessons

    28 May 2010

    “Being a financial adviser means you share life events with people you may not have met before.”

  • MM leader: Six months on and FSA still drags out Park Row saga

    27 May 2010

    It is now well over six months since Park Row was wound up and the situation for many of the firm’s advisers looks like it is getting worse rather than better.

  • MM leader: Welcome entrants

    27 May 2010

    With the FTSE 100 nosediving in recent weeks and continued concern about the future of the eurozone, good news is currently thin on the ground.

  • Mortgage firms seek stamp duty shake-up

    27 May 2010

    The mortgage industry has called for stamp duty to be completely overhauled, following the announcement that the coalition Government will review the effectiveness of raising stamp duty threshold for first-time buyers.

  • Mutual attraction

    28 May 2010

    “The general assumption is that smaller companies are domestically oriented and not a good place to invest - however, there are always two sides to every story.”

  • Mutuals demand parity with banks

    27 May 2010

    Building societies have welcomed the coalition Government’s pledge to promote mutuality but say they do not need to be given an advantage, just granted a level playing field with banks.

  • New lender says no to credit-scoring

    27 May 2010

    Intermediary-only Aldermore caters for borrowers rejected by mainstream lenders with trackers and fixes

  • Not another sequel

    28 May 2010

  • Only the brave

    31 May 2010

    With Europe in the state it is, it would be a brave investor who stuck his neck out says Brian Tora.

  • Out of Africa

    31 May 2010

    In the second of a four-part series looking at financial advice around the world, Lee Jones speaks to an IFA business in South Africa.

  • Out of context

    27 May 2010

  • Pick a winner

    27 May 2010

    Platforms are now deeply rooted in the industry and choosing the right one could make or break a business, says head of UK fund partners at Fidelity International Ed Dymott

  • Property downturn reveals pension risks

    27 May 2010

    Complaints to the Financial Ombudsman Service over pension products and service dropped by 27 per cent to 3,594 for the year ended March 31 from 4,940 the previous year.

  • Rate rises raise concerns

    27 May 2010

    There has been a rise in complaints about standard variable rates despite mortgage-related complaints falling slightly.Mortgage complaints fell to 7,469 from 7,602 but complaints about lenders’ SVRs increased as well as complaints about rates not tracking changes in the base rate and the removal of interest rate ceilings by some lenders.Banks accounted for 64 per cent of complaints, intermediaries made up 18 per cent and building societies 9 per cent.

  • 'Rating agencies as helpful as yesterday's weather forecast'

    27 May 2010

    Seven Investment Management director Justin Urquhart Stewart has attacked rating agencies, saying the system is open to conflicts of interest.

  • Regulator alerts small firms on crime compliance procedures

    27 May 2010

    The FSA has warned small companies against relying on procedures to combat financial crime that have been supplied by compliance consultants without tailoring them to their individual business.

  • Revenue says kick-outs do qualify for Isas

    27 May 2010

    HM Revenue &Customs has U-turned in its guidelines on kick-out structured products, confirming that they do qualify for Isa investment.

  • Rules of engagement

    28 May 2010

    George Osborne did the right thing last week. This is not a party political statement but a comment on what UK plc needs from those who lead it and their attitude to dealing with European regulation.

  • Sense of relief

    31 May 2010

    When considering entrepreneurs’ relief, advisers need to make clients aware of the risks involved

  • Settlement manager White banned by FSA

    27 May 2010

    The FSA has banned former Seymour Pearce settlements manager John White for fraud. White stole a total of £152,372 from investment banks, stockbrokers and private clients.

  • Sipp client caught in tax trap

    27 May 2010

    A Richard Jacobs Pension & Trustee Services client is trapped in insured funds despite wanting discretionary management because of the increase in the minimum retirement age.

  • Stafford quits ABI to join Cicero

    27 May 2010

    Association of British Insurers policy adviser Ben Stafford is leaving the trade body to become an account director at Cicero Consulting. The ABI is recruiting for a replacement.

  • Standard slams idea of using NI system for Nest

    27 May 2010

    Standard Life has criticised the suggestion that Nest should use existing National Insurance systems to collect contributions as it would be “messy” and give Nest an advantage.

  • Stirring the pot

    27 May 2010

    John Greenwood says a review of state pensions will no doubt spark a public row.

  • Switch of stance sees child trust funds scrapped

    27 May 2010

    Child trust funds are being axed to save £520m.

  • The complaint score: IFAs 2%, banks 61%

    27 May 2010

    IFAs were responsible for just 2 per cent of complaints received by the Financial Ombudsman Service in 2009/10 compared with banks which were responsible for almost two-thirds.

  • The next big story

    28 May 2010

    “The volatility of disparate countries relative to each other could quickly lead to a trend of portfolio churning as investors try to keep pace with the story of the year.”

  • Tightening the interest-only screws

    28 May 2010

    Lloyds’ move to restrict interest-only lending could prompt similar action elsewhere.

  • To fix or not to fix

    28 May 2010

    First-time buyers are facing the dilemma of whether to choose a fixed rate or a tracker mortgage, says Email Mortgages’ Michael White.

  • Truestone aims to make an impact with green multi fund

    26 May 2010

    Truestone Asset Management is planning to offer a new green multi-manager fund to capitalise on opportunities in impact investments.

  • UK deflation could be worse than Japan's 'lost decade'

    27 May 2010

    Bank of England monetary policy committee member Adam Posen has warned that the UK could face a more severe period of deflation than Japan’s “lost decade”.

  • Ukip MEP is Adviser Alliance patron

    27 May 2010

    UK Independence Party MEP Godfrey Bloom has become a patron of IFA lobby group Adviser Alliance.

  • Value added

    31 May 2010

    Ian McKenna warns that all the focus on passing exams is detracting from what will most probably be the biggest threat to the survival of adviser firms - loss of income.

  • Watchdog worry as bank targets bonds at elderly

    27 May 2010

    The Financial Ombudsman Service has raised concerns about an unnamed high-street bank it says is targeting older customers with investment bonds.

  • We have a blank canvas

    26 May 2010

    Nic Cicutti says the industry has a chance to put its arguments to the new coalition Government, although it remains to be seen whether they will be listened to.

  • Wealth platform plan for Cavanagh

    27 May 2010

    IFA firm Cavanagh is planning to launch a wealth management platform in the second half of this year.

  • Which? warns on comparison sites

    27 May 2010

    Which? has warned that some comparison websites could be encouraging investors to buy potentially risky structured products without taking financial advice.

  • Whitten quits First State for career break

    27 May 2010

    First State head of global res-ources David Whitten is leaving the firm after 13 years to take a career break.

  • Why confuse protection issues?

    1 Jun 2010

    Alan Lakey says FSA’s labelling of protection products is creating confusion.

  • Wicks warns Webb to beware vested interests

    27 May 2010

    Former Labour pensions minister Malcolm Wicks has warned newly appointed LibDem pensions minister Steve Webb to beware of the “deep vested interests” of the pension industry.

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