Money Marketing
28 January 2009

  • "Govt support for Post Office becoming people's bank", says union

    2 Feb 2009

    The Government supports in principle the Post Office network could be transformed into a state bank under proposals made to MPs on the Business Enterprise and Regulatory Reform committee.

  • £10,000 early payment proposed for KSFIoM depositors

    29 Jan 2009

    An early payment of up to £10,000 per account holder with Kaupthing Singer & Friedlander Isle of Man is to be proposed at the February sitting of Tynwald.

  • ABI appoints Maggie Craig to head of Scottish affairs

    28 Jan 2009

    Association of British Insurers director of life and savings Maggie Craig has been appointed the trade body's first director of Scottish affairs.

  • ABI hits back at Aifa over KSF IoM responsibility

    3 Feb 2009

    The Association of British Insurers has hit back at comments made by Aifa director general Chris Cummings to MPs on the Treasury select committee earlier today.

  • Advisers “uncertain” over New Star deal

    30 Jan 2009

    Advisers are remaining cautious on the proposed deal between Henderson Global Investors and New Star, questioning the future shape of the firm and the number of fund managers likely to be retained.

  • Advisers reject cap-ad switches to networks

    29 Jan 2009

    Only a tiny fraction of directly authorised advisers will look seriously at joining a network or national as a result of higher capital adequacy requirements, according to NMG research.

  • Aegon to cut 11 marketing jobs

    2 Feb 2009

    Aegon has revealed it is cutting eleven jobs in its life and pensions marketing department as part of a restructure.

  • Aifa tells MPs highlighting KSF IoM risk was providers' responsiblity

    3 Feb 2009

    Aifa director general Chris Cummings has told MPs that it was providers' responsibility to keep product literature updated on the risks associated with offshore investments in KSF IoM.

  • Altered states

    29 Jan 2009

    Council of Mortgage Lenders director general Michael Coogan is a man with a changed attitude. At the end of last year, he bran- ded the Government's attempts to revive the mortgage market "conflicting and incoherent" but he has called the latest Government bailout "comprehensive and coordinated".

  • AMI predicts gloom as Imla looks for Q3 revival

    29 Jan 2009

    The Intermediary Mortgage Lenders' Association and the Association of Mortgage Intermediaries have clashed over lending predictions for this year, with Imla claiming the AMI is painting too bleak a forecast.

  • Another Standard issue

    29 Jan 2009

    Standard Life has certainly been hogging the spotlight recently - and not exactly in a positive way.

  • Approach made for Network Data

    28 Jan 2009

    Network Data has revealed it has received a preliminary approach from a company interested in acquiring the business.

  • 'Assessment is spot-on'

    29 Jan 2009

    Investment Management Association chief executive Richard Saunders welcomes FSA chairman Adair Turner's call for an overhaul of global regulation.

  • Auditors behaving like cartel, professor of accounting tells MPs

    29 Jan 2009

    Auditors are behaving like a cartel, a Professor of accounting has told MPs of the Treasury select committee.

  • Aussie rules

    29 Jan 2009

    The past week or so has, for me at least, developed something of an unreal quality. Much has been going on in the world. We have a new US president but the hope effect engendered by his election faded fast as fear took over as the driving force for markets. And we have the bank rescue package, phase two, here at home as the once mighty Royal Bank of Scotland continues its slide into oblivion.

  • Axa PPP calls for patient clarity around Government top-up plans

    29 Jan 2009

    Axa PPP is urging primary care trusts in the UK to publish treatments the NHS will or will not cover under the Government’s new top-up plans.

  • Back to no future

    2 Feb 2009

    It’s déjà vu all over again, as celebrated American baseball player Yogi Berra once said. Just when we were all getting used to the chaos in the market, along comes the sucker punch of a second bank bailout that has left UK plc spooked once more and sterling under increased pressure.

  • Bail jumper

    29 Jan 2009

    Will the Government's latest bank bailout be successful?

  • Bailout II won't shift CML repo forecast

    29 Jan 2009

    The Council of Mortgage Lenders says its predictions for arrears and repossessions in 2009 will not change despite the Government's latest bailout package.

  • Bankhall firms put more business with platforms

    29 Jan 2009

    Bankhall research shows that the number of members placing the majority of their business via platforms increased by 5 per cent last year.

  • Banks took £185bn from SLS

    3 Feb 2009

    The Bank of England has revealed that UK banks swapped £185bn of Treasury bills for mortgage-backed securities using the Special Liquidity Scheme.

  • Blue Sky investors face losing cash if bank is taken over by the state

    29 Jan 2009

    Investors with Blue Sky protected income plans risk losing 100 per cent of capital invested at maturity if a bank within the portfolio is fully nationalised although they will still receive income.

  • Bluefin and JLT square up

    2 Feb 2009

    Bluefin says its Orbit Benefits Technology platform has still not lost any customers despite the departure of its entire senior management team to JLT Benefit Solutions in the spring of 2008.

  • BoE interest rate cuts counterproductive in the short-term, says Cazenove

    29 Jan 2009

    Aggressive cuts in interest rates made by the Bank of England could be counterproductive in the short-term, says Cazenove chief investment officer Richard Jeffrey.

  • Break down barriers to cut lapses

    29 Jan 2009

    Reinsurers are calling on providers to create greater policy flexibility and stronger adviser relationships to turn around the rise in lapse rates.

  • British former AIG exec gets four years for fraud

    28 Jan 2009

    A British former executive of AIG in the US has been sentenced to four years imprisonment after being found guilty of finite reinsurance fraud involving AIG and General Reinsurance Corporation.

  • Broker firm Gillen Farrelly fined £17,500 for self-cert failures

    30 Jan 2009

    The FSA has fined Nottingham mortgage broking firm Gillen Farrelly Independent Advisers Limited £17,500 for failing to ensure it provided suitable advice.

  • Broker Talkback

    29 Jan 2009

    Should the Government consider the further nationalisation of banks?Yes 38% No 62%

  • BTL brokers to handle B&B deleverage

    30 Jan 2009

    Buy to let brokers Mortgages For Business and The Buy To Let Business are set to handle borrowers coming off their Bradford & Bingley mortgages.

  • Bulk logjam - breaking the mould in bulk annuities

    2 Feb 2009

    The financial crisis may have made defined benefit schemes’ deficits rocket but many companies trying to offload their liabilities are finding their hands are tied by a pensions buyout market that has all but ground to a halt.

  • Campaign tells MPs of need for long stop

    29 Jan 2009

    The IFA Defence Union is launching a campaign aiming to put its case to MPs for a 15-year long stop for advisers.

  • Canada Life International links to 7IM

    3 Feb 2009

    Isle of Man based Canada Life International has added its premiere account and wealth preservation account to the 7IM platform.

  • Cancelling existing cover could cost thousands, warns Pru Protect

    3 Feb 2009

    Pru Protect is warning consumers against cancelling existing policies, saying it could cost thousands to replace.

  • Capita £500m deal with Axa Sun Life

    29 Jan 2009

    Capita has won a £500m deal to become the outsourcing partner of Axa Sun Life to administer 3.2 million life and pension policies.

  • CC bans point-of-sale and single premium PPI

    29 Jan 2009

    The Competition Commission has banned all banks and intermediaries from selling point of sale PPI and single premium policies from 2010.

  • CC's PPI paper still raises concerns for ABI

    28 Jan 2009

    The Association of British Insurers says it still has concerns over the PPI changes expected in the Competition Commission’s final report tomorrow.

  • Change will do you good

    29 Jan 2009

    The next 12 months are likely to be the toughest ever for those who make their living through the provision of mortgage advice.

  • Charlbury Group to provide GMAC arrears system

    2 Feb 2009

    GMAC-RFC is continuing its work into asset management by appointing the Charlbury Group to create its arrears management system.

  • CII accredits Elmfield Training to provide apprenticeships

    3 Feb 2009

    The Chartered Insurance Institute has accredited training providers Elmfield Training to provide apprenticeship programmes in retail financial services.

  • CII adds practical application paper to diploma

    30 Jan 2009

    The Chartered Insurance Institute has launched a competency-based paper as part of its diploma in financial planning, which tests the application of technical knowledge.

  • Control is with the Woolwich

    29 Jan 2009

    Last week Woolwich tightened its mortgage distribution control strategy by offering a number of specific daily tranches to a select number of distributors.

  • Corporate bonds dominate IMA net retail sales for 2008

    28 Jan 2009

    The corporate bond sector was the best selling UK domiciled retail sector for 2008, according to year end statistics from the Investment Management Association.

  • Corporate conundrum

    29 Jan 2009

    Corporate bonds are all the rage and with at least two fund launches already announced in the first weeks of 2009 from Neptune and Standard Life Investments, expect there to be plenty more in the months ahead.

  • Course for complaint

    29 Jan 2009

    In these difficult times, where stockmarkets are taking a battering, banks are going under and the mighty Blighty is in recession, one area you would expect to be extremely busy is complaints for people seeking redress against providers.

  • Craven and Edge leave Portal

    29 Jan 2009

    Money Portal co-founder and executive vice-chairman Richard Craven and managing director Chris Edge are leaving the firm.

  • Credit Suisse still wary of fixed income

    29 Jan 2009

    Credit Suisse vice-president of multi-manager portfolios Scott Spencer says the company is still cautious on fixed-income offerings despite their growth in popularity.

  • Currency converter

    29 Jan 2009

    In June 2007, currency markets awoke from a decade-long slumber. In response to the dot.com recession of 2001, the world's central banks embarked on a massive reflation programme. Interest rates fell sharply, igniting a debt-fuelled consumer boom. The sheer weight of money crushed market volatility, encouraging more leverage and a further grab for yield.

  • Decoupling returns with Asia tipped to lead revival

    29 Jan 2009

    Invesco Perpetual Asia fund manager Stuart Parks believes the decoupling story is set to resurface.

  • Default lines

    29 Jan 2009

    Over the past couple of weeks, I have been looking at personal guarantees and the consequences of their existence for the owner/managers who have given them to secure the debts of their companies should they default on payment.

  • 'Deleveraging BTL will leave books poor'

    29 Jan 2009

    Industry experts say that buy-to-let lenders may end up only keeping the poorest parts of their books if they continue to deleverage.

  • Disgraced former RBS and HBOS chiefs to face MPs

    2 Feb 2009

    Ex-Royal Bank of Scotland bosses Sir Fred Goodwin and Sir Tom McKillop and former HBOS chiefs Andy Hornby and Lord Stevenson are to face interrogation by MPs.

  • DLP adds Zurich Life to LifeQuote system

    2 Feb 2009

    Direct Life and Pensions has added Zurich to its quote and apply software, bringing the number of providers to 11.

  • Eclectica style

    29 Jan 2009

    In the sometimes grey world of fund management, Eclectica is one group that thankfully lives up to its name. In addition to industry maverick Hugh Hendry at the helm, this is a firm than can boast an ex-international footballer turned macroeconomic analyst among its ranks.

  • Employee benefit spend squandered

    2 Feb 2009

    UK SMEs are wasting up to £950m a year on their employee benefit spend according to figures from Towry Law.

  • End of PPI reign could prompt IP innovation

    3 Feb 2009

    The recent PPI changes have left the protection market in a fortunate position, according to some industry experts.

  • Equity income forced on to the defensive

    29 Jan 2009

    PSigma income guru Bill Mott says UK equity income managers run the risk of having too highly concentrated and similar portfolios if the recession hardens.

  • Esoteric assets feeling the cold

    2 Feb 2009

    With property values continuing their downward slide, the FTSE 100 dropping in value by 31 per cent last year and economic confidence shaky, high net worth clients might be forgiven for considering a fine Bordeaux, a Rembrandt or a 1930s Bugatti a better home for their money.

  • Exec reward under the microscope in 2009

    2 Feb 2009

    Executive reward is a key boardroom issue for FTSE 250 companies in 2009 and will impact the ability of companies to weather the economic downturn according to remuneration specialists Hewitt New Bridge Street.

  • Ex-Lehmans MD joins PPF as chief executive

    29 Jan 2009

    The Pension Protection Fund has appointed former Lehman Brothers managing director Alan Rubenstein as chief executive.

  • Experience shows

    29 Jan 2009

    If you are like me, you will probably use an attitude to risk questionnaire with your clients when you are making investments and then afterwards matching this to an asset allocation tool.

  • Expert doubts auditors can sign off banks as “going concern”

    29 Jan 2009

    Auditors may not be capable of signing off banks as a “going concern” due to the difficulty of predicting the behaviour of volatile markets, an expert has warned MPs.

  • Ex-Singer Friedlander boss warned FSA about Kaupthing

    3 Feb 2009

    Ex-Singer Friedlander chief executive Tony Shearer told MPs he warned the FSA that Kaupthing was not a “fit and proper” organisation to takeover the UK bank in April 2005.

  • F&C multi-manager head says 2009 will be a year of upheaval

    28 Jan 2009

    F&C head of retail multi-manager Dean Cheeseman has warned investors to be prepared for “a year of upheaval in the funds industry” with consolidation, fund closures and product mergers on the menu.

  • Fears over Standard panel of advisers for Sipp drive

    29 Jan 2009

    Advisers have questioned Standard Life's policy of directing consumers to a restricted panel of advisers as part of its new active money Sipp campaign.

  • FOS threatens FSA referral as adviser rejects decision

    29 Jan 2009

    The Financial Ombudsman Service has threatened to refer an adviser to the FSA for refusing to comply with a final decision despite admitting that the adviser is not bound by the decision.

  • Friends' life sales down by 27%

    29 Jan 2009

    Friends Provident's UK life and pension sales dropped by 27 per cent to £549m last year from £751m in 2007.

  • Friends Provident enhances CI plan

    30 Jan 2009

    Friends Provident has enhanced its critical illness cover by extending the number of conditions covered from 29 to 36.

  • FSA bans and fines two stockbrokers £275,000

    28 Jan 2009

    The FSA has banned and fined two stockbrokers £275,000 respectively for mis-selling high risk shares.

  • FSA handbook only up 6% in previous 12 months, says BDO

    30 Jan 2009

    The FSA handbook was extended by 497 pages in the last year, a minor increase compared to 2007 which saw 2000 pages added, according to BDO Stoy Hayward’s Financial Services Group.

  • FSA is urged to probe bank PPI

    29 Jan 2009

    The FSA should order banks and other financial institutions which have sold payment protection insurance to conduct a review of past business, says Fishburns Solicitors.

  • FSA warned by S&F chief against Kaupthing takeover before its failure

    3 Feb 2009

    The FSA was warned not to allow Kaupthing bank to take over Singer & Friedlander three years before the Icelandic bank failed, according to reports.

  • FSA warns advisers being falsely targeted by tech providers

    30 Jan 2009

    Advisers are being targeted by technology providers selling recording equipment on the false premise that they must record client calls from March, according to a warning from the regulator.

  • Gartmore's Lanning tops up with bonds

    29 Jan 2009

    Gartmore multi-manager head Tony Lanning is anticipating further pain in the equity markets over the next two quarters and increasing his weighting in investment-grade credit.

  • Get real on returns

    29 Jan 2009

    The system of means-tested credits that we have for our elderly citizens has been in the media spotlight ever since this time last year when the Pensions Bill was stumbling through Parliament.

  • GHL and Openwork deal will see switch to multi-tie

    29 Jan 2009

    Mortgage network GHL predicts that up to 45 of its ARs may become multi-tied advisers as they move across to Openwork.

  • Governance offering included in new enhanced Scottish Life pension range

    2 Feb 2009

    Scottish Life is launching an enhanced investment proposition that offers a level of governance, flexible asset allocation and risk profiling all within the price of its existing group pension plans.

  • Group Risk Adviser Forum - Six pages of coverage

    2 Feb 2009

    With the economy in its present state, last month’s GRAF meeting never looked destined to become a hotbed of optimism, and so it proved. A resounding 82 per cent of attendees reported that clients were reducing core benefits, and employers were perceived as taking a worryingly short-term stance.

  • Half of New Star staff will be offered jobs under Henderson deal

    30 Jan 2009

    Half of New Star's 300 staff will be offered jobs as part of the £115m Henderson acquisition.

  • Hargreaves could refer Standard Life to FSA over sterling fund debacle

    3 Feb 2009

    Hargreaves Lansdown has written to Standard Life demanding compensation for its clients who lost money in the pension sterling fund shock revaluation.

  • Hargreaves Lansdown adds Gartmore fund to Wealth 150

    29 Jan 2009

    Hargreaves Lansdown has added Gartmore's absolute return fund to its Wealth 150 range.

  • Hedge funds shun standards' scheme

    29 Jan 2009

    MPs have raised concerns that only 34 out of over 1,000 hedge funds have signed up to the Hedge Fund Standards Board.

  • Henderson set to buy New Star

    30 Jan 2009

    Henderson Group has tabled a £115m offer for struggling rival New Star Asset Management.

  • Henderson surprise leader for New Star

    29 Jan 2009

    Advisers say they are surprised that Henderson Global Investors has emerged as the front-runner to buy New Star.

  • Hewitt claims 4 per cent outperformance for clients through early derisking

    2 Feb 2009

    Hewitt says its investment consulting advice delivered out-performance for its clients of an average 4 per cent in the 12 months to September 2008, when compared with the WM All Funds index.

  • IFA culls predicted in wake of Retail Distribution Review

    2 Feb 2009

    The number of IFAs in the UK will shrink as a direct result of the implementation of the Retail Distribution Review (RDR), according to senior insurance executives attending a debate hosted by Watson Wyatt.

  • IFAs concerned at board costs

    29 Jan 2009

    Fears are growing that the FSA's proposed independent professional standards board will have significant cost implications for advisers.

  • IFAs hit by £40m FSCS levy for defaulting stockbroker

    28 Jan 2009

    IFAs will be part of the FSCS subclass that will be hit by a £40m levy in the wake of the Pacific Continental Securities scandal.

  • Income quest

    29 Jan 2009

    Income funds have made their mark on Adviser Fund Index portfolios over the last quarter, proving especially popular with cautious investors.

  • Indexation degradation

    2 Feb 2009

    This year could see the government finally have to face up to demands the industry has been making for years in terms of sharing of risk between employers and members of final salary schemes.

  • Individuals should be held to account

    29 Jan 2009

    Should the Government do more to compensate those who lost out due to the collapse of Equitable Life?

  • IP sales rise 21 per cent in 2008, says Cirencester Friendly

    3 Feb 2009

    Cirencester Friendly recorded a 21 per cent increase in the number of income protection policies put on risk during 2008.

  • IPTF calling for consumer clarity around PPI and IP

    30 Jan 2009

    The Income Protection Task Force is calling on the Competition Commission to outline the differences between PPI and income protection to avoid consumer confusion.

  • Isas could spring a suprise

    29 Jan 2009

    A decade after Isas were introduced, it seems the 2009 Isa season could well be the most difficult to predict.

  • Islamic Bank of Britain drops rental rate to 4.49% on home purchase plan

    30 Jan 2009

    Islamic Bank of Britain is dropping rental rates to 4.49 per cent on its home purchase plan in a bid to widen its appeal to advisers and their customers.

  • John Charcol axes fee-free advice

    2 Feb 2009

    John Charcol is axing its fees-free advice on telephone mortgage applications from today.

  • Jon King

    29 Jan 2009

    In sharp contrast to many people in financial services, Hodge Lifetime managing director Jon King says 2009 is a year of opportunity for the company.

  • JPM aiming to add £6bn sterling fund to wrap platforms

    29 Jan 2009

    JP Morgan Asset Management is in talks with a number of wrap providers in a bid to add its £6bn sterling liquidity fund to their platforms.

  • KSFIoM depositors welcome 21 day adjournment to liquidation hearing

    29 Jan 2009

    The KSF Isle of Man depositors action group have welcomed the local government’s decision to adjourn the bank’s liquidation hearing.

  • L&G announces Kate Avery is to leave the firm

    28 Jan 2009

    Legal and General group executive director of its wealth management division Kate Avery is leaving the life office after 12 years.

  • L&G in ill-health protection launch

    2 Feb 2009

    Legal & General is launching an income protection product designed to offer members of DC pension schemes ill health insurance typically covered by DB schemes.

  • L&G UK new business up 3 %

    29 Jan 2009

    Legal & General UK new business was up 3 per cent for the full year at £1.367bn.

  • Life offices in bank bond summit

    29 Jan 2009

    Big insurers are believed to have met with the Treasury to discuss concerns about the impact that further nationalisation of UK banks could have on their corporate bond holdings.

  • Life planning conference

    29 Jan 2009

    Helm Godfrey managing director Bruce Wilson is one of four speakers at a UK life planning conference for advisers in London on February 4.

  • Living the bad dream

    29 Jan 2009

    I have just had a really bad dream. I dreamt that I went into Standard Life's caviar shop that advertises the best caviar in the world at only a £100 per tin.

  • Lloyds shareholders call on Hornby to face the axe

    2 Feb 2009

    Andy Hornby, former chief executive of HBOS, could be facing the axe from Lloyds Banking Group, according to weekend reports.

  • Loading indicators

    29 Jan 2009

    Advisers often complain that life companies can be less than helpful when it comes to providing client information.

  • Lords attack DWP for mortgage rescue failings

    3 Feb 2009

    A House of Lords Committee has attacked the Department of Work and Pensions for a multitude of “failures” when drafting the recent mortgage rescue scheme.

  • Mark out the finishing line

    29 Jan 2009

    FSA director of retail policy Dan Waters has provided some comfort to advisers who are already some way down the road to getting qualified for 2012.

  • Marketing campaign call to beat group risk slump

    2 Feb 2009

    Eight out of 10 group risk intermediaries are already seeing clients cutting back on core benefits, according to research conducted at the second Group Risk Adviser Forum held in London last month.

  • McFall to step down as TSC chair at next election

    29 Jan 2009

    Treasury Select Committee chairman John McFall is to step down as head of the group at the next election, according to reports.

  • McKillop steps down at RBS three months early

    3 Feb 2009

    RBS chairman Sir Tom McKillop is retiring as chairman of the bank from today, three months ahead of schedule.

  • Midas aims to strengthen balance sheet

    29 Jan 2009

    Midas Capital is working to restructure its banking debt arrangements and is considering strategic options with a number of interested parties to strengthen its balance sheet.

  • Money Partners suspends mortgage lending

    3 Feb 2009

    Money Partners has revealed it is suspend all new business due to low demand for its current range.

  • Mortgage world goes Darwinian

    30 Jan 2009

    This month would have been the 200th birthday of Charles Darwin, who first coined the theory of natural selection. Two centuries on, could we be seeing Darwin's theory evolving before our eyes in the mortgage world?

  • MPs call for more credit action

    28 Jan 2009

    The Treasury Select Committee says there is “far more work to be done” before the credit crisis is over.

  • MPs rally against mutuals’ FSCS levy inequality

    2 Feb 2009

    More than one hundred MPs have signed an Early Day Motion to try and redress the balance of levies imposed on building societies by the FSCS.

  • MPs want state bank openness

    29 Jan 2009

    MPs have called on the Government to be more transparent about taxpayers' exposure to the nationalised banks and their ongoing performance.

  • Multi-manager - pensions panacaea or pain in the neck?

    2 Feb 2009

    Multi-manager funds would seem to be the panacea for people without the inclination or time to invest in stock markets. The trend in the retail funds market suggests that private investors have cottoned on to their supposed benefits. Data from Lipper FERI suggests that demand for multi-manager funds is strong. UK-domiciled funds of funds have grown at a compound annual growth rate of 29.4 per cent from the beginning of 2004 to the end of 2007.

  • Nationwide’s Wyles becomes CML chairman

    30 Jan 2009

    The Council of Mortgage Lenders has revealed that Nationwide group distribution director Matthew Wyles has been appointed chairman.

  • NeedAnAdviser.com to launch fee-based network

    3 Feb 2009

    NeedAnAdviser.com is to establish a network of fee-based IFAs following “huge increases” in demand for time-costed and fixed fee advice.

  • Network Data assures ARs of solvency and promises to pay commission

    28 Jan 2009

    Network Data has written to appointed representatives assuring them of its solvency and promising to pay commissions “as soon as is practical”.

  • New brand and marketing directors at Bupa

    2 Feb 2009

    Bupa has appointed Fiona McAnena as its group brand director and Sue Moore as marketing director of its UK health insurance business.

  • New head for Hewitt - Andy Cox profile

    2 Feb 2009

    After 18 years with Hewitt, Andy Cox could be forgiven for wishing he had ascended to the role of managing director for the UK and Ireland at Hewitt Associates at a slightly less tempestuous time.

  • Novia urging gross and net trading

    29 Jan 2009

    Novia has called on other platforms to follow its example and offer clients the ability to trade both gross and net.

  • 'Now or never for DB'

    29 Jan 2009

    The National Association of Pension Funds says over half of defined-benefit pension schemes currently open to new members could close as a result of the economic crisis.

  • NS&I closes cash Isa to new sales from April

    3 Feb 2009

    NS&I will be closing its cash Isa to new customers from April 6.

  • NU puts block on property fund

    29 Jan 2009

    Norwich Union has deferred settlements on its £2.9bn unit-linked life and pension property fund for up to six months.

  • Nucleus launches model portfolio tool

    30 Jan 2009

    Nucleus has launched a model portfolio tool on its platform.

  • Ombudsman slams Govt's "flawed approach" to Eq Life

    30 Jan 2009

    The Parliamentary Ombudsman Ann Abraham has attacked the Government's "flawed approach" in its response to her findings on Equitable Life.

  • Open wide - fresh impetus for dental plans

    2 Feb 2009

    Although the government bowed to patient pressure by accepting NHS top-ups last November, it remains committed to a health service that is free at the point of use. But, while paying for all of your medical treatment may be a long way off, employers offering help with those areas of healthcare that have already moved towards private provision can reap valuable goodwill from staff.

  • Out for the discount

    29 Jan 2009

    The investment trust renaissance has been undone by the credit crunch. The sector had been enjoying a post-split-cap revival thanks to their esoteric offerings, including private equity and hedge funds.

  • Pada opens procurement process for scheme administration

    2 Feb 2009

    The Personal Accounts Delivery Authority (Pada) has launched its procurement process for companies that will provide scheme administration services for the new body.

  • Panacea rethinks site to aid directly regulated advisers

    29 Jan 2009

    Panacea has revamped its website for small directly authorised IFA firms which aims to provide access to provider tools and information across product lines.

  • Paragon reveals £7m profits

    29 Jan 2009

    Paragon Group has revealed it ended the last quarter of 2008 with profits before tax of £7m.

  • Parallel world

    29 Jan 2009

    Ever get that Groundhog Day feeling? I did this week when reflecting that it was precisely 20 years ago that I started work in the Square Mile for a bank which was seemingly invincible. Within six months of that career start, NatWest was to announce significant profit downgrades in the wake of the Blue Arrow affair.

  • Paymentshield hikes up MPPI cover by 20%

    3 Feb 2009

    Paymentshield has hiked up its rates for existing MPPI plans by 20 per cent.

  • Perception Support offers TCF "rehearsal programme"

    30 Jan 2009

    Perception Support has launched its treating customers fairly “rehearsal programme”, which offers advisers an interview and feedback package similar to the FSA’s TCF telephone assessment.

  • Personal Touch launches DA investment and pension service

    30 Jan 2009

    Personal Touch has launched a directly authorised investment and pension proposition for IFAs.

  • Perspective sets target to acquire 24 more firms

    29 Jan 2009

    Perspective Financial Group is planning to buy a further 24 adviser firms by 2011.

  • PI warning on collapse cover

    29 Jan 2009

    Advisers have been warned to check their professional indemnity insurance policy for any exclusions over the collapse of a bank or financial institution.

  • PMS ditches ‘mortgage’ moniker

    2 Feb 2009

    Premier Mortgage Service has dropped its mortgage name to now become just PMS.

  • PosSol claims increased demand and hits out at support services providers

    3 Feb 2009

    Positive Solutions says it is seeing an increase in applications from directly authorised IFAs and has warned advisers not to buy into “superficial promises” from third party service providers.

  • PPI claims could cost industry over £14m in November 2008

    28 Jan 2009

    PPI unemployment claims could cost the insurance industry over £14m in November alone, according to ABI research released today.

  • PPI unemployment claims up 118%, says ABI

    28 Jan 2009

    Unemployment claims on payment protection insurance has risen 118 per cent, from 8,772 in November 2007 to 19,105 at the same time last year, according to the Association of British Insurers.

  • Primary motivations

    29 Jan 2009

    When I joined Condy Mathias Financial Planners in 2007, I was already a convert to the whole wrap concept. My previous IFA firm built its entire business around a wrap platform and I saw the potential in Condy Mathias to do the same.

  • Private equity firm buys wrap provider

    29 Jan 2009

    Private equity firm HIG Europe has bought Axa and Standard Life's wrap technology provider FNZ in partnership with its management.

  • Pru bond clients hit by KSF charges

    29 Jan 2009

    Prudential bondholders with deposits in KSF IoM have been charged quarterly bond charges in arrears on the value of the funds prior to administration.

  • Queue system to quit funds

    29 Jan 2009

    Standard Life has introduced a queuing system for investors wanting to transfer out of its UK unit-linked life and pension property funds. Requests will be processed within six months or once suitable liquidity has been raised by property sales.

  • RDR questions that must be answered

    29 Jan 2009

    The aims of the RDR cannot be faulted but it is the rationale for change and the medicine prescribed which make it so unpalatable.

  • 'Regulation of liquidity is as vital as cap ad'

    29 Jan 2009

    Regulators must recognise the regulation of liquidity is equally as important as capital adequacy, says FSA chairman Adair Turner.

  • Resolution's float £3.6m cheaper than forecast

    30 Jan 2009

    Resolution has published its first results since floating on the stock market in December, revealing its initial public offering cost £3.6m less than expected.

  • Restrictions scrapped for safeguarded rights but not protected rights

    2 Feb 2009

    The Government has confirmed that changes to pensions legislation will lift restrictions on safeguarded rights three years before similar restrictions are abolished on protected rights.

  • Retention in recession

    2 Feb 2009

    Suspending pension contributions is an easy way of improving take home pay for many employees who believe that a year or two of missed payments won’t make a significant difference come retirement.

  • Revenue gift trust rethink will boost discount value

    29 Jan 2009

    HM Revenue & Customs changes to the valuation rate of interest on discounted gift trusts will increase the value of discounts, says Standard Life.

  • Reverse the trend of mistrust

    29 Jan 2009

    One of the most striking effects of the economic crisis has been the complete collapse in public confidence in the financial sector. Almost literally, no one believes what they are being told any more.

  • Ruffer appoints finance director

    3 Feb 2009

    Ruffer has announced the appointment of Myles Marmion as the group's finance director.

  • Scot Life launches new investment proposition for pensions

    28 Jan 2009

    Scottish Life has launched a new range of investment portfolios and lifestyle strategies, which advisers can customize to fit with their own business model.

  • Scottish Widows reintroduces deferral on life property fund

    2 Feb 2009

    Scottish Widows has reintroduced a 180-day deferral period for certain transactions within its life property fund.

  • Securitisation needs overhaul

    29 Jan 2009

    FSA chairman Adair Turner believes that the securitisation model has an important future role to play in financial services but must be radically overhauled as part of a major shake-up of global regulation.

  • Self cert mortgages face extinction

    30 Jan 2009

    Self cert mortgages face extinction after BM Solutions and Bank of Scotland became the latest lenders to pull out of the sector.

  • Seminars to show advisers how to free up their time

    29 Jan 2009

    Over 90 per cent of advisers spend less than 20 hours a week on billable activities, according to research by Capita Financial Software and Perception Support.

  • Sense of balance

    29 Jan 2009

    How do you we approach the construction and maintenance of investment portfolios on behalf of your clients?

  • Seven-month wait for NPI transfer value

    29 Jan 2009

    NPI took seven months to provide an accurate transfer value for a client's with-profits pension policy and the transfer valuation dropped by £30,000 over that time.

  • Sifa IFA directory gets Law Society approval

    2 Feb 2009

    Sifa has received Law Society endorsement of its on-line directory of professional IFAs.

  • Skandia concerns over broker Oeics

    29 Jan 2009

    Skandia says advisers should be wary of setting up their own Oeics due to regulatory risks and should consider predefined portfolios as an alternative.

  • SLI plans to offer global bond fund

    29 Jan 2009

    Standard Life Investments is planning to launch an unconstrained bond fund, Money Marketing understands.

  • Some you win

    29 Jan 2009

    Sometimes it is no fun being a trade body. We are damned if we do, damned if we don't. The latest issue dividing the ranks of advisers and fund managers is our decision to split the UK equity income sector and consult on a definition for a new UK equity income and growth sector. It feels like that old adage has never rung truer - you can't please all of the people all of the time.

  • Standard call to name and shame transfer laggards

    29 Jan 2009

    Standard Life has called on the FSA to name and shame the pension providers which take the longest to transfer funds to annuities.

  • Standard Chartered acquires Cazenove Asia

    2 Feb 2009

    Standard Chartered has acquired Cazenove Asia Ltd from JPMorgan Cazenove.

  • Standard cuts with-profits bonuses

    29 Jan 2009

    Standard Life has reduced some with-profits annual bonus rates. For unitised with-profits plans, bonus growth rates for life plans without a 3 per cent unit price growth guarantee are now 1.5 per cent, down from 2 per cent. Bonus growth rates for unitised with-profits pensions are now 2 per cent, down from 2.5 per cent.

  • Standard fund row grows

    29 Jan 2009

    Compliance consultant Adam Samuel has joined advisers in slamming Standard Life for not giving a clear breakdown of the assets that its pension sterling fund was invested in.

  • Standard Life UK life and pension sales slip 9%

    28 Jan 2009

    Standard Life’s UK life and pension sales slipped 9 per cent for the full year to £12.2bn from £13.4bn in 2007.

  • STIMULUS PACKAGE

    2 Feb 2009

    With companies feeling the pain in 2009, delegates at the Group Risk Adviser Forum saw three areas where work needs to be done to bolster the sector – sensible trimming and realignment of benefits for those employers under real pressure, the development of new products for if and when the rebound happens and, most important of all, the launch of a wide-ranging campaign to market the benefits of group risk products.

  • Strategies for success

    29 Jan 2009

    The problem with all the negative news we have been exposed to recently is that eventually the prophecies of doom become self-fulfilling.

  • Suffolk Life reports over £3bn gross assets

    28 Jan 2009

    Sipp provider Suffolk Life has announced gross assets exceeded £3bn by the end of 2008, including commercial properties for over 2,500 Sipp investors.

  • T. Bailey strengthens investment team

    3 Feb 2009

    T. Bailey has strengthened its investment team with the appointment of Mark Wright as an analyst.

  • Tax breaks fail to keep pace with inflation, says MetLife

    28 Jan 2009

    Four out of seven key personal tax breaks have failed to keep pace with inflation over the past 11 years, according to MetLife.

  • Tesco offering £50 voucher for new life customers

    3 Feb 2009

    Tesco is giving all new life insurance customers a £50 gift card until March 4.

  • The Coaching Platform offers training aids online

    30 Jan 2009

    The Coaching Platform has added diploma level workbooks and supporting questions to its online training system in a bid to help advisers meet the RDR professionalism requirements.

  • The sands of commission

    2 Feb 2009

    As the current credit crisis ably demonstrates, the lure of profit can damage rational thinking. Banks took their eyes of sustainability and we’re all paying the cost; the life industry has maintained its focus but in one aspect it could do better.

  • The smaller issues

    29 Jan 2009

    The perfect storm continues to worsen. The UK housing market is trapped in a domestic economy spiralling out of control, itself a pawn in an ongoing global credit and debt contraction.

  • The switching hour

    29 Jan 2009

    Even the most cursory reading of the recent FSA thematic review, Quality of Advice on Pensions Switching, makes it clear that many of the challenges the regulator is making to advisers are points that have frequently been made before.

  • The upgrade conundrum

    2 Feb 2009

    The general tightening of budgets as a result of current economic conditions means that being able to present an employer with evidence of the ability to take significant costs out of their business can expect to get the attention of any finance director. Each year my organisation carries out a detailed benchmarking exercise examining the quality of technology delivered by group pension providers.

  • To nationalise or not to nationalise?

    28 Jan 2009

    Banking stocks have had a nauseating ride over the past two weeks. On January 23, the Office for National Statistics confirmed everybody’s fears- the UK is officially in recession.

  • Too much exposure

    29 Jan 2009

    Apologies for kicking off with a Buffettism but I was after a nice quote on risk and it was either this one or something faintly nauseating such as "If you don't risk anything, you risk even more" - and that would be unforgivable, especially if you happened to be reading this over your lunch.

  • Towry Law approved to advise personal injury client in Northern Ireland

    3 Feb 2009

    Towry Law has received approval from Northern Ireland’s Office of Care and Protection to provide investment services to a personal injury client.

  • Tranche control for lenders

    29 Jan 2009

    Sesame is setting up a tranche management system to enable lenders to control the volume and risk of their lending with the network.

  • Trevor Matthews appointed to ABI board

    2 Feb 2009

    Friends Provident chief executive Trevor Matthews has been appointed to the Association of British Insurers board.

  • UK Banks' capital sufficient, says Ward

    28 Jan 2009

    New Star economist Simon Ward says UK banks will not need further capital injections if the Government allows banks to absord their losses over time.

  • Unbiased.co.uk relaunches as “the professional advice website”

    29 Jan 2009

    Unbiased.co.uk has today re-launched as “the professional advice website”, which incorporates its Find an Independent Financial Adviser and Find a Mortgage Adviser tools on one portal.

  • Unum improves terms to beat crunch

    2 Feb 2009

    Unum has introduced a range of improvements to its group life product in response to the tough economic conditions in the UK economy. The changes cover both policy conditions and the pricing basis and are designed to be appealing to policyholders, particularly those with up to 500 members. The changes include better premium rates across certain key client segments and an uplift to the free cover levels, from £12,000 to £22,000 per member to a maximum of £1million p.a total benefit.

  • Value through understanding

    2 Feb 2009

    How does this sound for a proposition? Substantial life cover – often equivalent to up to four years’ salary or even higher. Up to around three-quarters of your salary for as long as sickness prevents you working. Maybe a lump sum if you are struck by a critical illness

  • Wholesale-funded firms won't be able to return

    29 Jan 2009

    Capital adequacy changes proposed by the FSA mean there will be no return of the 100 per cent wholesale-funded lender, say industry experts.

  • Wishing wellness

    29 Jan 2009

    By the end of 2008, it was difficult - if not impossible - to focus on anything other than what the economy appeared to be doing or not doing. Then began the worrying task of working out how the economic downturn would play out closer to home on the financial stability of the companies we work for and on our finances as individuals and families.

  • Workplace savings plan to launch

    2 Feb 2009

    Standard Life is developing a workplace savings plan as the first stage of its Employee Wealth Plan corporate wrapper proposition.

  • You can bank on Woodford

    29 Jan 2009

    The crisis in financial markets and the economy is profoundly depressing. My mood was made even worse by Gordon Brown's admission that he had no idea that over 80 per cent of RBS's lending was overseas. Remember, this is the man who has been in charge of our economy for the last 11 years. Did he believe that RBS were lending all their money on trading estates in Scunthorpe?

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