Money Marketing
29 April 2010
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A true champion
29 Apr 2010
It is with great sadness that we report the death of former IFA Promotion chief executive David Elms after a short battle with cancer.
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Actuaries slam parties' lack of commitment to pension provision
29 April 2010
The Association of Consulting Actuaries has hit out at the major political parties’ policies on pensions and care of the elderly, claiming they are “threadbare at best and damaging at worst”.
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Adviser Charging is definitely on its way. How will the market really react?
29 April 2010
Conventional wisdom is that the whole market is going to move to relationship based advice and whilst I agree that this will be the general trend, I’m certain it won’t be the only model.
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Adviser Fund Index
29 April 2010
With the Greek crisis showing no sign of a quick resolution, currency risk is back on the agenda.
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Aifa exam not the answer
29 Apr 2010
Nic Cicutti explains why he is not in favour of Aifa’s plans to launch a QCF level five qualification.
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All weather takes longer outlook for hedge returns
29 April 2010
New fund of hedge funds manager Hilltop Fund Management has pitched itself as an alternative to the funds of hedge funds it criticises as over-diversified and disappointing in performance terms.
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Ammunition check
30 Apr 2010
James Smith spends 10 minutes talking to Adrian Frost.
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Argonaut Russ wants Euro income sector
30 Apr 2010
Argonaut partner Olly Russ says there are now enough funds in the market to merit the Investment Management Association launching a European income sector.
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Artemis fund ratings cut over SmartGarp problems
30 Apr 2010
Bestinvest has dropped its ratings on two Artemis funds, citing problems with the firm’s investment process SmartGarp.
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Avalon calling
29 Apr 2010
The Ethical Partnership’s Jeremy Newbegin says his fears of using a small technology provider have evaporated over the years.
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Bang to rights
29 April 2010
Prepare for IFA-charging by getting to grips with intellectual property
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Bates Investment defaulted by FSCS
29 April 2010
Former Money Portal subsidiary Bates Investment Services has been declared in default by the Financial Services Compensation Scheme, with eight complaints so far totalling £130,000.
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Brokers call for split mortgage products
29 April 2010
Advisers have urged intermediary lenders to follow HSBC’s launch of a split loan mortgage, which allows borrowers to fix a proportion of their mortgage and track the bank rate with the remainder.
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Brokers slam lenders for refusing clients with perfect credit scores
30 Apr 2010
Brokers have hit out at lenders for rejecting borrowers with perfect credit reports.
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Capstone could be in line for MBO
29 Apr 2010
The management of Lehman Brothers’ mortgage administrator subsidiary company Capstone Mortgage Services could be planning a buyout of the firm, Money Marketing understands.
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Carby favourite to buy Home of Choice
29 Apr 2010
Home of Choice is in acquisition talks as it looks to secure its future.
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Cazenove offers choice of charges
29 Apr 2010
Cazenove is introducing two new share classes across its multi-manager range in preparation for the retail distribution review.
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Charcol had £3.7m liabilities
29 April 2010
John Charcol had liabilities of more than £3.7m when went into liquidation in February. Towergate Financial bought the firm out of administration.
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Chief financial officer leaves Rock
29 April 2010
Northern Rock’s chief financial officer David Jones has left the company with immediate effect to enable him to concentrate on the ongoing FSA investigation.
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CII launches new level 4 diploma
29 April 2010
Scott: ‘Our new diploma will be less expensive than other comparable qualifications’
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Client quest
29 April 2010
The Business of Advice book and website looks at how to manage and grow advice businesses. In the fourth article in the series, author David Shelton looks at the hardest task - acquiring new clients
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Communicating auto-enrolment is key for IFAs
29 April 2010
Two-thirds of IFAs believe the financial services industry needs to actively promote good quality pension schemes ahead of auto-enrolment to minimise levelling down.
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Cooking with Gars
30 Apr 2010
“Investing certainly is not getting any easier. There are so many economic problems arising that you could be forgiven for going off investments altogether.”
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Cross purposes
30 Apr 2010
Our panel consider the FTB stamp duty incentive, cross-selling prospects and a possible rise in execution-only business
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Dear Rob&Roderic...
29 April 2010
Our resident agony uncles and The Ideas Lab directors Rob Reid and Roderic Rennison answer adviser queries
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Developing themes
30 Apr 2010
CF Miton’s Sam Liddle says yield will remain important in a world of low cash returns.
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DFM is an answer to rebalancing client portfolios
29 April 2010
The Ethical Partnership director Jeremy Newbegin says the key benefit of discretionary fund management services is the ability to rebalance all client portfolios at the same time.
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Diary of an IFA: Business bottleneck
29 April 2010
As part of Adviser Evolution’s regular feature charting transitions to the RDR, Plutus Wealth Management co-founder Georgina Partridge talks about the effects of renewed client confidence.
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Duel action
30 Apr 2010
To challenge the big brands on dual pricing and the rise of cheap direct products, advisers must use their expertise to show that best-buy mortgages are not always the best option. Lee Jones reports
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Dumbing the depths
29 April 2010
QUALIFICATIONS
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Europe splits on the north-south divide
30 Apr 2010
Chris Salih reports that Europe funds have performed well but advisers are reluctant to move into the sector
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Ex-PFS chief plans to shake up care sector
29 Apr 2010
Eadon: ‘We need to have more providers involved’
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F&C plans to wind up select investment trust
29 April 2010
The board of the F&C UK select trust is planning to reconstruct and wind up the investment trust.
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Fee cap on Allium fund
30 Apr 2010
Allium Capital is working with investment firms to create a new fund structure with a capped performance-related fee.
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Feedback factors
29 April 2010
Today’s clients expect the best service and advisers can gain a competitive edge by using client feedback to drive business, which is where technology comes in
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Fixed-loan rates at three-year low
29 April 2010
Fixed-rate mortgages have fallen to their lowest levels since April 2007, according to Moneysupermarket.com, with the average rate for a two-year fix 4.62 per cent.
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FSA makes public warning against Carmody & May
29 April 2010
The FSA has warned consumers against dealing with Carmody & May, the firm set up by ex-Mortgage Times directors Paul Carmody and Chris May on the same premises as the defunct network.
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FSA will allow factoring for network members
28 Apr 2010
The FSA says it will allow networks to offer members a factoring service as long as it is available to all advisers for all long-term savings and retirement products.
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GDP rises by just 0.2% in first quarter
29 April 2010
The UK economy disappoin-ted with GDP growth of only 0.2 per cent in the first quarter of this year compared with a rise of 0.4 per cent in the final quarter of 2009.
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Hargreaves stepping down as chief executive
29 April 2010
Hargreaves: Staying on as executive director
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Head of compliance leaves Gartmore
29 April 2010
Gartmore head of compliance Gerry Harvey has left the firm, with David Young taking over on an interim basis.
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Hunt becomes CFO at Standard Life
29 April 2010
Standard Life has promoted deputy group finance director Jackie Hunt to the role of chief financial officer, replacing David Nish who is now chief executive.
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Indian link
29 April 2010
Investors are keeping a close eye on the performance of the Indian market after a good response to the recent budget
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Investec assesses platforms to add structured funds
29 April 2010
Investec Structured Products is looking to launch a range of Ucits structured funds by the third quarter this year.
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Investec's Dale tackles Meteor kick-out move
30 Apr 2010
Investec Structured Products head of intermediary sales Gary Dale has criticised Meteor’s decision to drop an Isa option on its latest kick-outplan pending HMRC clarification.
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It is the framework that sets the standard
29 April 2010
THE EDITOR’S COMMENT OF THE WEEK
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Journey connections
30 Apr 2010
“The FSA has ’mixed views’ on whether an adviser can be independent using just one platform so the good money is on it pushing for IFAs to adopt a multiple platform approach.”
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L&G poll warning as pension sales halve
29 Apr 2010
Legal & General has warned the major political parties against scrapping higher rate tax relief on pensions, claiming the looming restriction for top earners has already halved pension sales for the first quarter.
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Labour and Tories to raise VAT to 19%
29 April 2010
Schroders European economist Azad Zangana expects VAT to rise to 19 per cent after the general election if Labour or the Tories win.
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Law firm in bid for levy judicial review
29 Apr 2010
Law firm Regulatory Legal has issued proceedings as a first step to launching a judicial review against the Financial Services Compensation Scheme’s £80m interim levy.
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Leader: Cherry Reynard
29 April 2010
Cherry Reynard, Consulting Editor, Adviser Evolution
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Lloyds Bank back in profit
29 April 2010
Lloyds Banking Group has reported a return to profitability in the first quarter, although no precise figures are disclosed in the management statement.
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Lowes looks at structured secondary market fund
29 Apr 2010
IFA firm Lowes Financial Management is in talks with CitiFirst about launching a fund that invests in secondary market structured products.
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Mark crofts
29 April 2010
Association of Christian Financial Advisers chairman explains how he applies biblical practices to financial planning
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Martin Laverick interview: Culture shock
29 April 2010
AWD Chase de Vere marketing director describes how the firm had become an unwieldy juggernaut in need of a change of direction and the painful transition of the company.
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MC Trustees sets up first Malta Qrops
29 April 2010
MC Trustees is launching what it believes is the first Qrops based in Malta.
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Merchant buys Keydata structured product book
29 April 2010
Merchant Capital has taken on Keydata’s structured product book and residual third-party administration, as revealed by Moneymarketing.co.uk.
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Milton says he gave FSA an early warning over Rock
28 Apr 2010
Tory election candidate fears ’strangled Parliament’ will create uncertainty
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MM Leader: Hung Parliament will make it tough to predict changes
29 Apr 2010
With only a few days left until the general election, everything appears up for grabs as this week’s final leaders’ debate turns the spotlight on the economy.
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Moody's and analysts say hung Parliament could benefit Britain
29 April 2010
Parliament: Deadlock could produce cohesive solution
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More advice means more people saving
29 Apr 2010
Conservative Shadow pensions minister Nigel Waterson says the Tories’ plans would reinvigorate a savings culture.
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More fund mergers for Henderson
29 April 2010
Henderson is to merge five funds into others as it continues to rationalise its range following the acquisition of New Star Asset Management in 2009.
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Mustoe in for Yerbury as CIO at Perpetual
29 April 2010
Yerbury: Phased retirement
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Needs must
4 May 2010
Consumers must be offered the best option for them.
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No sense in an onerous appeal process
29 April 2010
COMPLAINTS
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Non-Isa clients win cash claim
29 Apr 2010
Some clients with non-Isa investments in certain Keydata plans who said they relied on misleading marketing literature have been successful in their claim for compensation.
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Nucleus appoints Bloch as non-executive director
29 Apr 2010
Nucleus has appointed Helm Godfrey and Taxbriefs chairman Danby Bloch as a non-executive director.
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On course for coursework
29 April 2010
Coursework assignments are designed to mirror the everyday work of advisers and create a case study scenario. The ifs pioneered this approach for its DipFA qualification and this is a guide to the right approach
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Online tool can make IFA service cost-effective
30 Apr 2010
Sammedia has set up an online client-facing service called Moneyinfo to enable advisers to continue servicing lower-income clients after the retail distribution review.
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Out of Context
29 April 2010
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Paragon of virtues
30 Apr 2010
London stockbroker firm Arden Partners caused a wave of excitement in the buy-to-let sector when it issued an analyst’s note stating that Paragon could be “weeks away” from a return to new lending.
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Pegrum quits Cazenove for Soros
29 April 2010
Neil Pegrum, manager of the Cazenove UK dynamic fund and two dynamic long/short funds, has left to join Soros Fund Management.
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Personal matters
29 April 2010
The Chartered Insurance Institute turns its attention to passing J01 - the exam on personal tax. As candidates grapple with the technicalities, there are techniques to help them with the main problem areas
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Personal matters
29 April 2010
The Chartered Insurance Institute turns its attention to passing J01 - the exam on personal tax. As candidates grapple with the technicalities, there are techniques to help them with the main problem areas
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Point of order
29 April 2010
On the level: exam diary
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Property paradox
29 April 2010
If you start from raising the point of trading down you will find the clients suitable for equity release
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Property trusts in merger talks
29 April 2010
The boards of the UK commercial property trust, managed by Ignis Investments, and the F&C commercial property trust are considering a merger. If the merger of the £640m F&C trust and the £979m Ignis trust does go ahead, the combined entity would be one of the UK’s biggest listed property companies.
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Protect and survive
30 Apr 2010
“Thirty per cent of advisers working for small IFA firms will leave the industry reducing profitability for product providers.”
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Pru shareholder may stop Asia buy
29 April 2010
Prudential’s biggest shareholder Capital Group, which owns a 12 per cent stake, is reportedly looking to scupper the £23.5bn acquisition of AIA by seeking a break-up of the insurer.
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Regulation risks
4 May 2010
Law firm TLT warns politicians that taking a tougher line on regulation risks undermining the free principles on which our financial industry is based.
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Royal Liver taking legal action against ex-finance director
29 April 2010
Royal Liver has confirmed it is bringing legal proceedings against former finance director George McGregor, and former Royal Liver investments head James Stuart-Smith, who now works for Utility Capital Management, in relation to certain alleged commercial arrangements between the parties and is seeking to recover over £3.6m of allegedly unauthorised payments.
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Rule of thumb
29 Apr 2010
IFAs struggle with FSA regulation that is open to interpretation
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Security barriers
29 Apr 2010
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Shareholder slams Tenet after missing out on deal
29 Apr 2010
Former Tenet adviser slams firm for not giving him the chance to sell his stake in the business after 7 per cent was sold to life offices.
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Ship figures show fall in equity release
29 April 2010
Equity-release lending fell by 13 per cent in the first quarter of this year to £213.4m from £244.7m in the same period in 2009, according to figures from Ship.
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Short shrift
30 Apr 2010
The Goldman Sachs’ short-selling case underlines the fact that attitudes towards investment banks have changed fundamentally.
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Sipp firms failing to stick to regulator's requirements
29 Apr 2010
Many Sipp providers are ignoring FSA requirements to provide retirement wake-up packs to customers, offer lower projection rates for cash and have a system capable of spotting abnormal investments.
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Smart thinking
29 April 2010
Objectives are the stepping stones to your goals and the Smart move is to be clear about what those objectives are
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Sounding out segmentation
29 April 2010
Segmenting your client base is fine in theory but it is tough to tell clients who you have advised for many years that you can no longer work with them. Two advisers talk about how to handle the post-segmentation process
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Stamp and deliver?
30 Apr 2010
Samatha Downes asks if Budget plans to abolish stamp duty for two years for first-time property purchases of up to £250,000 are enough to give this subdued part of the housing market the boost it needs
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Standard Life Intl picks Dunne as chief exec
29 April 2010
Standard Life International has appointed Nigel Dunne as its new chief executive.
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Swip emerging market duo quit to join Currie
29 April 2010
Kim Catechis, head of global emerging market equities at Swip, and Alistair Reynolds, investment director, global emerging market equities, are both leaving the company to join Martin Currie.
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Taking allowances
30 Apr 2010
Careful use of personal and age allowances is invaluable in a tax-saving strategy
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Tap into wrap
29 April 2010
FSA guidelines for wraps will not hit advisers that put client needs first but they need the appliance of science for portfolio design or the wrap will add no value
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The big time
30 Apr 2010
“Multi-billion retail funds are no longer the rarity they once were and the biggest funds appear to be that way for a reason, with their performance not hampering their management.”
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The challenges of a growing company
29 April 2010
Roderic Rennison Director The Ideas Lab
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The elements of platform choice
29 April 2010
Jeremy Mugridge, platform marketing manager at Skandia, says when picking a platform, the client’s needs must come before the adviser’s
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The joy of text
29 April 2010
“Two exams down, three more to go to reach the certificate in financial planning before the quest for QCA level four and the real fun begins.”
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The wider picture
29 April 2010
The RDR final rules represent a missed opportunity to adopt a common-sense approach and will lead to a widening rather than a bridging of the advice gap
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Tories to replace SFO with tough new crime agency
29 April 2010
The Conservatives would set up an Economic Crime Agency to replace the Serious Fraud Office and take over responsibilities from other regulators, including the FSA and the Office of Fair Trading.
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Training day to calm nerves
29 April 2010
Tutor’s corner
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Transfer sums
29 April 2010
New regulations have seen transfer values increase but that does not mean a rise for the pensionholder
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Tributes paid to IFA marketing pioneer David Elms
29 April 2010
David Elms: ‘Single-minded determination to get the message across’
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Vanburgh fund looking to global equity income
29 April 2010
Hawksmoor Investment Management says global equity income is the single biggest theme in its multi-manager Vanbrugh fund. The firm backs funds that focus on strong and dependable companies with aboveaverage yields, particularly as investors become less enthusiastic about chasing higher-risk areas.
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Venture trusts double take to reach £340m
29 April 2010
Venture capital trusts raised a total of £340m in the last tax year, more than double the £158m raised in the previous tax year, according to figures from the Association of Investment Companies.
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Ward steps down as DLP MD and Quayle takes role
29 April 2010
Direct Life and Pension Services managing director Michael Ward has stepped down as MD after founding the company 20 years ago.
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Wax on, wax off
30 Apr 2010
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We need a rate rise
30 Apr 2010
Sally Laker says a rate rise is needed to kick-start the mortgage market.
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Web Comments
29 April 2010
Response to last week’s Robert Reid column on Aifa offering qualifications, headlined, Dumbing down is dumb Level six ought to be the bare minimum for anyone wanting be called an IFA. I certainly would not want to take complex advice from someone with only level four. I would, however, be happy to be sold a simple product on a commission basis from someone with level three or less.
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Where are the policies for housing?
30 Apr 2010
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Winterflood loses market abuse appeal
29 April 2010
The FSA last week won its market abuse case in the Court of Appeal against market-maker Winterflood and two of its traders, Stephen Sotiriou and Jason Robins.
