Money Marketing
28 October 2010

  • 10 Years on, Equitable Life victims get £1.5bn payout

    28 October 2010

    Equitable Life annuitants are finally set to get compensation for their losses after a decade.

  • 3A increases macro strategy

    28 October 2010

    Fund of hedge funds manager 3A has increased exposure to macro and long/ short equity strategies in its Altin portfolio, which returned 3.87 per cent this year.

  • ABI in call for framework on long-term care

    28 October 2010

    The Association of British Insurers has called for local authorities to work via a national framework in delivering long-term care to bring clarity on who qualifies for support.

  • Adviser faces major claim over Lifemark

    28 Oct 2010

    Leeds adviser faces huge compensation claim.

  • Adviser Fund Index

    28 October 2010

    Adviser Fund Index

  • Advisers back Precise move into residential lending

    29 Oct 2010

    Brokers have welcomed Precise Mortgages’ move into residential lending which they say will plug the current gap in the credit-impaired market.

  • Advisers would rather whine about change than implement it

    29 Oct 2010

    Bhupinder Anand says he is confronted by rampant energy vampires masquerading as disillusioned IFAs.

  • Aegon selling pension admin firm

    28 October 2010

    Aegon UK is to sell its third-party pension administration business to corporate consultants Goddard Perry. It will be rebranded as HS Administrative Services.

  • Against the grain

    28 October 2010

    The axing of the Electica fund from the Wealth 150 list has put the focus on agricultural funds. John Kenchington reports

  • Against the grain

    28 Oct 2010

    The axing of the Electica fund from the Wealth 150 list has put the focus on agricultural funds. John Kenchington reports

  • Aifa dismay at fee failure

    28 October 2010

    Aifa has expressed disappointment after the FSA rejected its proposals aimed at ensuring that IFAs paid a fairer share of regulatory fees.

  • Aifa says adviser-charging creates "free distribution" for providers

    28 Oct 2010

    Trade body calls for sensible debate about how providers’ distribution costs should be assessed post-RDR.

  • Alico brand scrapped as MetLife completes acquisition

    1 Nov 2010

    Alico brand dropped and UK wealth management products to be streamlined as MetLife completes acquisition.

  • Angels taking over Annuity Direct

    28 October 2010

    Retirement Angels is buying Annuity Direct from Partnership.

  • Another planet

    28 October 2010

    So what implications does the comprehensive spending review have for you and your clients? I am not talking about the impact it will have on everybody’s finances - presumably few of us will emerge from the Chancellor’s axe-wielding unscathed - but how might it affect your thoughts on investment, pensions, insurance, protection and so on?

  • Assets' boost for Henderson

    28 October 2010

    Henderson Group has revealed a 5 per cent jump in assets under management in the third quarter of the year.

  • Auto-enrolment threshold rises

    28 October 2010

    Employees earning more than the personal income tax allowance of £7,475 will be automatically enrolled into a pension scheme from 2012.

  • Back-office spending to be reduced by £6bn

    28 October 2010

    Chancellor George Osborne has pledged to cut £6bn from Government back-office spending as part of the spending review, double the original savings pledge of £3bn.

  • Bank levy aiming to raise £2.5bn a year

    28 October 2010

    The Government has released details of its bank levy, which is expected to raise £2.5bn annually by 2012-13.

  • Baring's Pascal calls for emerging specialist sector

    29 Oct 2010

    Ian Pascal says the IMA should introduce a specialist sector that focuses purely on emerging market products.

  • Basel III to raise credit cost

    28 Oct 2010

    BBA warns that Basel III could see a rise in the price of credit offered by banks to small businesses.

  • Belt tightening

    28 October 2010

    There are four archetypes of the deleveraging process and the coalition seems to have opted for the most common

  • BoE mulls £50bn QE boost

    28 October 2010

    The Bank of England looks likely to issue another bout of quantitative easing after a monetary policy committee member broke ranks and called for a £50bn QE boost this month.

  • Bond strategy

    1 Nov 2010

    Contrary to expectations, gilt prices have gone through the roof this year and the yield on the 10-year gilt has fallen to a low of less than 2.9 per cent. The financial crisis has made people edgy and trades are being driven by fear rather than greed. According to James Foster, manager of the Artemis strategic bond fund, the gilt market is already discounting zero inflation and a double-dip recession. Bond yields have also been driven down by the prospect of more quantitative easing ...

  • 'Capitalising arrears masks true figures'

    28 Oct 2010

    The FSA says lenders’ forbearance strategies are masking the true extent of the number of borrowers in arrears.

  • Child quits 1st Exchange

    28 October 2010

    David Child has quit as managing director of 1st Exchange after seven years at the financial services technology firm.

  • CII's gap-fill tool does not cover all the bases

    29 Oct 2010

    The Chartered Insurance Institute’s gap-fill tool does not take into account certain learning outcomes such as risk management covered by CII exams.

  • Commerzbank sets up China volatility fund

    28 October 2010

    Commerzbank Corporates & Markets has launched a Chinese equity fund through a joint venture with Beijing-based China Asset Management.

  • Concerns at triple lock for pensions

    28 October 2010

    The Government’s triple lock on pensions, which will see payments rise by at least 2.5 per cent is “absurd”, according to the Institute of Economic Affairs.

  • Cost cuts in Government departments average 19%

    28 October 2010

    The average cost reduction across Government departments under the comprehensive spending review is 19 per cent, less than the 25 per cent anticipated in the coalition’s June Budget.

  • Crisis warning by LSE chief

    29 Oct 2010

    Plans to merge the UK Listing Authority and Financial Reporting Council could be sowing the seeds for a future crisis.

  • Devile doubts Ucits III strategy can solve counterparty risk

    28 October 2010

    Meteor Asset Management managing director Graham Devile has voiced doubts over the structured product industry’s plans to solve counterparty risk by using the Ucits III regulatory structure.

  • Discount rate on pension liabilities to be reviewed

    28 October 2010

    Chancellor George Osborne says the Government will review the discount rate that is used to calculate public sector pension liabilities as part of the spending review.

  • Don't spook the lenders

    29 Oct 2010

    Andrew Montlake says that ever tightening lending criteria could leave the industry in a crisis.

  • Dotas position

    27 Oct 2010

    HMRC and the Treasury aim to fill ’the information gap’ by extending Dotas to trust-based IHT avoidance schemes

  • Economics experts clash over effects of slashing spending

    28 October 2010

    The Institute for Fiscal Studies has slammed the Conservative-LibDem Government’s £81bn package of cuts, labelling it as “regressive”.

  • Exams test the limits of common sense

    28 October 2010

    RDR

  • 'Fast-track would have developed into self-cert'

    28 October 2010

    The FSA says fast-track mortgages would have become “self-cert by another name” if the process was retained under the mortgage market review.

  • Fears of rental carnage

    28 October 2010

    The Government’s cuts to social housing could cause “carnage” in the private rental market as more people look for private tenancies, according to Precise Mortgages.

  • Find an escape route

    28 October 2010

    Barclays intermediary business director David Finlay says the most feasible great escape in the current conditions revolves around the remortgage market and freeing borrowers who are ensnared by their SVR

  • Focus on problems, not point-scoring

    28 October 2010

    THE EDITOR’S COMMENT OF THE WEEK

  • Food for thought

    2 Nov 2010

    Tom Baigrie pokes fun at the benefits of the fast-food business over financial services

  • FSA hires staff to stop 'commission gluttony'

    28 October 2010

    The FSA is recruiting additional supervisors over the next three years in a bid to prevent “commission gluttony” among advisers in the run-up to the RDR.

  • Future foundation

    28 Oct 2010

    Plans for a flat-rate state pension of £140 should be warmly welcomed. It removes concerns about Nest’s interaction with means-testing and creates a simple solid foundation for individuals to save more for their future. Important details of the reform still need to be ironed out but once again the Government must be congratulated for its pension proposals.

  • Gale wants IFAs to embrace inevitable change

    28 October 2010

    Aegon distribution board chairman Patrick Gale has urged advisers to embrace the RDR despite a growing momentum in Parliament to challenge the review and its impact.

  • Gareth Fatchett

    27 Nov 2010

    The Regulatory Legal partner says he always starts on the side of advisers and fends off criticism the firm may have a conflict of interest as it is representing both advisers and investors.

  • Henderson looks at natural resources

    28 Oct 2010

    Henderson is in talks with external groups over possible launch.

  • Hoban is hammered by IFAs over 'calculated' Mac gibe

    28 October 2010

    Advisers have slammed Treasury financial secretary Mark Hoban’s comments likening the current minimum qualification level for IFAs to a diploma course offered by McDonald’s.

  • Honister offers online tech support

    28 October 2010

    Honister Capital has launched a technical support service to provide its 1,300 advisers with daily analysis and commentary on financial issues.

  • Honister voices Nest charging concerns

    29 Oct 2010

    Alan Easter says 2 per cent intitial contribution charge is “huge gamble” by Government.

  • House of pain

    29 Oct 2010

    Homeowners are facing tough times after the cuts. Natalie Holt reports.

  • Intrinsic picks Ahmed as financial services director

    28 October 2010

    Intrinsic Financial Services has appointed former Home of Choice director John Ahmed as financial services director.

  • Investec raises AMCs on five funds

    28 Oct 2010

    Cautious managed fund is among those to see its annual management fee raised.

  • Is there such a thing as a safe haven any more?

    28 October 2010

    Kira Nickerson on the dilemma being faced by advisers with low-risk clients.

  • Junior Isas on the way

    28 October 2010

    The Government is to create junior Isas which can invest in stocks and shares or cash offering tax-free returns with a contribution cap and no Government contribution.  

  • Main attractions

    28 October 2010

    I concede that the macro-economic outlook for Western economies is still far from certain, with housing and employment data pointing to a continuation of weak consumer activity. However on the plus side, the Fed and other central banks have shown that they are prepared through quantitative easing and low interest rates to avoid at all costs a slide back into recession so I do not buy into the double-dip scenario currently priced into US treasuries and UK gilts.

  • MAM looks to emerging market firms

    28 October 2010

    MAM Funds is tapping into the growth potential of emerging markets in its CF Miton global growth portfolio through companies listed in the West.

  • MM leader: Engage with IFAs rather than scoring cheap points

    28 Oct 2010

    IFAs and MPs deserved better than the response given by Treasury financial secretary Mark Hoban.

  • MPs' bid for debate on RDR rejected

    28 October 2010

    A request from two MPs for a full Parliamentary debate on the impact of the retail distribution review has been turned down.

  • Nest OK boosts UK standing

    28 October 2010

    The UK’s pension system got a boost with confirmation that the Government is to proceed with the National Employment Savings Trust, according to research from Mercer.

  • Nest report urges Govt to allow transfers in and out of scheme

    27 Oct 2010

    Auto-enrolment review panel says issue should be reviewed before 2017.

  • Nest spared Osborne's axe

    28 October 2010

    The National Employment Savings Trust has been spared Chancellor George Osborne’s axe as the structure of the Government’s auto-enrolment reforms began to take shape last week.

  • OBSR cuts Jupiter opps fund rating

    28 October 2010

    OBSR has cut its rating on the £1bn Jupiter financial opportunities fund managed by Philip Gibbs to AA due to co-manager Guy de Blonay’s “increasing influence on the product”.

  • On balance

    1 Nov 2010

    I confess I had not appreciated that an investment trust existed that provided exposure to the Ukrainian stockmarket. Not that the stockmarket out there is very big, containing as it does just 20 companies. Indeed, some 60 per cent of the Ukraine opportunity trust, which is managed by FPP Asset Management, is in private equity. Perhaps that is why the trust stands on a discount of 53 per cent to its net asset value.

  • Osborne rocks the housing structure

    28 October 2010

    Chancellor George Osborne spoke of rebuilding and sustainable foundations in his comprehensive spending review last week but social housing is facing one of the biggest cuts and the housing and property markets have been quick to criticise his plans. Gregor Watt reports

  • Out of context

    28 October 2010

    “I hesitate to say it, but I’m not sure people see this industry as very sexy.”

  • Outsource of opportunity

    28 October 2010

    The Chancellor’s cuts did not send tremors through the markets and instead there was good news for investors on transport and outsourcing. Gregor Watt reports

  • Passive resistance

    28 October 2010

    Standard Life Investments head of UK wholesale Jacquie Kerr discusses why a passive approach to investment can be less likely to meet an investor’s goals

  • Pattullo says volatility can be contained

    28 Oct 2010

    Henderson head of retail fixed income John Pattullo says volatility will persist in the markets with shorter market cycles causing “containable landmines”.

  • Pension firms set for long transfer battle with DWP

    28 Oct 2010

    Battle lines drawn after the Government confirmed the decision to ban transfers from DB to DC schemes was planned.

  • Pension reforms face contracted-out measures

    28 Oct 2010

    Experts suggest Govt will introduce measures to ensure those who have contracted out are not overly rewarded.

  • Persistence pays

    2 Nov 2010

    Like the vast majority of advisers, I am not loving it, “it” being Mark Hoban’s humourless and rather pathetic performance at last week’s RDR debate at Westminster Hall.

  • PFS says reward progressive firms with lower fees

    29 Oct 2010

    Professional body urges FSA to reward progressive firms with regulatory dividends.

  • Phoenix set to transfer 450,000 savings plans

    28 October 2010

    Phoenix is planning to transfer 450,000 savings policies from sister company Phoenix & London Assurance Limited to Phoenix Life.

  • Platform paper is put on hold again until end of year

    28 October 2010

    The FSA has again delayed the publication of its consultation paper on platform regulation and now expects to finalise it before the end of the year.

  • PosSol in advice deal with Trust Inheritance

    28 October 2010

    Positive Solutions has launched a joint initiative with estate planning specialist Trust Inheritance.

  • Pressing charges

    28 October 2010

    In response to a number of recent letters on the MM letters page:Adviser-charging is not fee-charging, it never has been. Please stop saying it is.Nick BamfordInformed Choice remuneration

  • Pressure on DB schemes

    28 October 2010

    State pension reforms will place further pressure on employers to shut final-salary schemes.

  • RDR under fire from Tory backbenchers

    28 October 2010

    Backbench MPs expressed deep concerns over the impact of the retail distribution review in a debate in Parliament last week.

  • Regulator says CML is jumping the gun over effects of MMR

    28 October 2010

    The FSA has criticised the Council of Mortgage Lenders for making “premature” assumptions about how proposals in the mortgage market review will affect the industry.

  • Renewable energy target for Hazel Capital VCTs

    28 October 2010

    Hazel Capital is offering a pair of venture capital trusts in the renewable energy sector.

  • Saga receives assurances that SERPs or S2P will not be cut back

    28 Oct 2010

    Group says reform will not hit those with large levels of SERPs or S2P while those who contracted out will receive partial payments.

  • Schroders income funds shared out due to Schemmann maternity leave

    28 October 2010

    Schroders fund manager Sonja Schemmann is handing over her two European income products permanently and her four global income funds temporarily when she takes maternity leave in December.

  • Select committee chair wants high-rate relief ditched

    28 Oct 2010

    The chair of the work and pensions select committee has called for higher-rate pension tax relief to be scrapped.

  • Spending review is the perfect chance to promote protection

    2 Nov 2010

    Matt Morris says welfare cuts are an opportunity to promote protection

  • Standard Life U-turn on £750 Sipp exit charge

    29 Oct 2010

    Plans to bill customers £750 if they transferred out of the firm’s Sipp within 12 months have been scrapped

  • Star Allianz

    28 October 2010

    10 Minutes with..Guido Steil

  • State retirement age could rise rapidly to 70

    28 October 2010

    A faster increase in state retirement age may be needed to fund a universal basic state pension.

  • Suspicious minds

    28 Oct 2010

    John Greenwood contrasts the responses of the French and the British public to changes to their pension entitlement.

  • Tata still in consultation on Nest role

    28 October 2010

    The Government’s £600m contract with Nest administrator Tata Consultancy Services is still under consultation despite confirmation that the national scheme will proceed as planned.

  • The charging conundrum

    28 October 2010

    The PFS’s view

  • The Mcflipping point

    29 Oct 2010

    Nic Cicutti suggests it is too late to rely on a backbench MP cavalry to rescue IFAs from the RDR.

  • The politics behind the back-bench RDR revolt

    29 Oct 2010

    Iain Anderson suggests IFAs should seize the window of oppotunity to adapt the RDR.

  • Time machine

    28 Oct 2010

    Ian McKenna says it is questionable if the most advanced client management propositions have the level of functionality needed after the RDR.

  • Towry and Ascentric in transfer row

    27 Oct 2010

    Firms clash over delays in transferring assets between the pair.

  • Universal acclaim for plans

    28 October 2010

    Government proposals for radical simplification of the basic state pension have been broadly welcomed by the industry.

  • VAT analysis

    28 October 2010

    The letter in the October 21 issue on the supposed advantages of fees over commission demonstrates once again that the advisory community even now lacks a proper understanding of when VAT should be charged for services supplied.

  • Volatility is top concern

    28 October 2010

    Investors are more concerned about volatility than the need for long-term growth, according to a Threadneedle report .

  • Web comment

    28 October 2010

    Response to Mark Hoban on qualifications

  • Who’s to blame for Lifemark?

    28 October 2010

    Money Marketing/YouGov monthly 250-IFA benchmark s

  • Will power

    28 October 2010

    IHT savings can be considerable when you have a will and an adviser’s aid in this area can be invaluable

  • Women in 50s hardest hit by pension age rise

    28 October 2010

    The National Association of Pension Funds is warning that women in their 50s will be hardest hit by the rise in the state pension age to 66 in 2020.

  • Women's movement

    28 October 2010

    Three steps that could break down barriers and get women on the savings ladder

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