Money Marketing
29 July 2009

  • 50% of women put beauty before healthcare, says Aviva

    29 Jul 2009

    Aviva UK research has found that 50 per cent of women fail to spend any money on healthcare each month.

  • 7IM attracts over £1bn AUM

    3 Aug 2009

    Seven Investment Management has exceeded £1bn of assets under management in its multi manager and multi asset class funds.

  • A credibility crisis

    1 Aug 2009

    New pensions research from the OECD rightly points out that the financial and economic crisis is focusing governments’ attention onto short-term measures, and this risks the sidelining of long-term strategic planning and backtracking on earlier reforms.

  • A gap too far?

    31 Jul 2009

    New figures from Home Buyer Systems revealed today that those who opt for a direct mortgage could be as much as £5000 better off over two years than they would be if their mortgage came through an intermediary.

  • A law unto themselves

    4 Aug 2009

    The Law Commission has outlined a series of principles for advisers to follow when dealing with insurance firms in a bid to clarify when an intermediary is acting on behalf of the insurer or consumer.

  • A repossession happens every 10 minutes, says charity

    31 Jul 2009

    Every 10 minutes a property is being repossessed, according to the latest figures by debt charity Credit Action.

  • A work in progress

    1 Aug 2009

    More than two and a half years into the Retail Distribution Review, the FSA is still struggling to get to grips with how it should be applied to the group pensions market.

  • ABI hits out at Myners' shareholder reform

    3 Aug 2009

    The Association of British Insurers has warned that Myners’ proposals for shareholder reform in public companies could have dangerous implications for the market.

  • ACA calls for MP pensions to move to career average

    4 Aug 2009

    The Association of Consulting Actuaries is calling for MPs pensions to move to a career average structure with regular reviews of retirement age.

  • Accountancy firms channelling money into Tory Party

    29 Jul 2009

    Top accountancy firms are channelling money and staff into the Conservative party in anticipation of a Tory Government.

  • Adviser slams BA trustees' decision

    1 Aug 2009

    The decision by BA's pension trustees to release the employer from £330m of guarantees which were provided just 3 years ago will have a wide impact on pension schemes throughout the UK, says Intelligent Pensions technical director David Trenner.

  • Advisers lobby to protect tax wrapper on non-Isa compliant Keydata plans

    29 Jul 2009

    AWD Chase de Vere will be lobbying HM Revenue & Customs to protect the tax position of clients who invested in non-Isa compliant Keydata plans.

  • Advocate of clarity

    1 Aug 2009

    All political parties say they want to listen to the needs of the business community. The message from the CBI's Neil Carberry is that employers want to offer pensions to their staff, but let's not make the process any more complicated than it needs to be.

  • Aegon increases fund charges

    30 Jul 2009

    Aegon Asset Management is to raise the annual charge on three of its equity funds.

  • Age old conundrum for employee benefits

    1 Aug 2009

    The bringing forward of the review of the default retirement age raises issues for all types of employee benefits. John Greenwood reports

  • Alpha waves

    30 Jul 2009

    Not so long ago, the word alpha was being bandied about the investment world with great alacrity. It remains an issue today, even as the demand for positive returns over relative has increased. The events of the past three years have certainly challenged the ability of active fund managers to achieve a greater return than their respective benchmarks.

  • Alternative medicine

    30 Jul 2009

    Howls of protest were heard from the hedge fund and private equity world as the European Commission recently unveiled proposals aimed at alternative funds but dig deeper into the detail and there is potential for this directive to spill over into the more traditional fund management arena.

  • AMI to hold PI talks over direct-only loans

    30 Jul 2009

    The Association of Mortgage Intermediaries is to meet with professional indemnity insurance providers in September to address the problems of covering advice on direct products.

  • An old problem that won't go away

    1 Aug 2009

    The introduction of the Employment Equality Age Regulations in 2006 made it unlawful for employers to apply different terms and conditions, including benefit provision, on the basis of age. The regulations include a national default retirement age of 65. Employers can require an employee to retire at age 65 or older as long as proper retirement procedures are followed, and this will not currently count as age discrimination.

  • Analysis: Assessing the impact of swine flu

    31 Jul 2009

  • Arc Capital & Income -Fixed Income Plan 15

    30 Jul 2009

    Arc Capital & IncomeFixed Income Plan 15

  • Arc Capital & Income launches new income product

    29 Jul 2009

    Arc Capital & Income has launched the fixed income plan 15 which offers a monthly income of 0.5 per cent.

  • Arch suspends cru fund cells

    29 Jul 2009

    Arch Financial Products has suspended the underlying cells investing in the CF Arch cru funds after discrepancies were found in their pricing.

  • Arch suspends cru fund cells

    30 Jul 2009

    Arch Financial Products has suspended the underlying cells investing in the CF Arch cru funds after discrepancies were found in their pricing.

  • ARs warned to check contract terms

    30 Jul 2009

  • Ascentric teams up with Independent Edge

    31 Jul 2009

    Ascentric is adding a raft of Independent Edge investment tools to its platform.

  • Bailey bridge

    30 Jul 2009

    Multi-manager company T Bailey has just announced a further £3m investment from its original backer as the group looks to expand its assets from £200m to £1bn over the next five years.

  • Bankhall sets up IFA business marketplace

    30 Jul 2009

    Bankhall has launched an online marketplace for buyers and sellers of IFA businesses as part of a package to support advisers through the RDR transition.

  • Banking on Sipp service from Curtis Banks

    29 Jul 2009

    Curtis BanksSipp

  • Banking reforms “cosmetic”, say MPs

    31 Jul 2009

    The recent banking White Paper has done very little to improve UK financial reguation, according to the Treasury select committee.

  • Barclays fund switch raised risk for widow

    30 Jul 2009

    Barclays advised an elderly widow concerned about a fall in her fixed-interest bond to transfer her savings into a fund which could hold up to 40 per cent in equities despite her insisting she wanted capital security.

  • Barclays profits up to £3bn

    3 Aug 2009

    Barclays has announced pre-tax profits of £2.98bn for the first half of 2009.

  • Barclays Wealth - Target Growth Plan - August 2009

    31 Jul 2009

    Barclays WealthTarget Growth Plan - August 2009

  • Barings makes sweeping changes to UK retail range

    3 Aug 2009

    Baring Asset Management is launching retail shares for five of the funds within its range.

  • Bluefin first with mobile valuations

    1 Aug 2009

    Pension scheme members can now access daily valuations and fund performance through their mobile phone under a new service being offered by Bluefin Corporate Consulting.

  • BoE to decide on quantitative easing strategy this week

    3 Aug 2009

    The Bank of England is to decide how far to extend the quantitative easing programme at its monthly Monetary Policy Committee meeting on Thursday.

  • Bolton is back with equity-release firm

    30 Jul 2009

    Ex-edeus duo Michael Bolton and Terry Pritchard have set up an equity-release support services firm, Charterhouse Retirement Solutions.

  • Brit Insurance records pre-tax loss of £8.7m

    31 Jul 2009

    Brit Insurance recorded a pre-tax loss of £8.7m for the first six months to June, down from a profit of £49.9m for the same period last year.

  • Bupa International launches worldwide PMI

    31 Jul 2009

  • Bupa launches physio provider network

    1 Aug 2009

    Bupa Health Insurance is launching a national network of more than 3,000 physiotherapy providers aiming to offer patients a consistent level of care.

  • Buy to let is becalmed

    30 Jul 2009

    Lloyds Banking Group is expected to reveal a surge in net buy-to-let lending figures next week as the sector continues to suffer an unhealthy lack of competition.

  • Buy-ins replaced by DIY swaps in the race to hedge risk

    1 Aug 2009

    Pension funds are now more likely to design their own ways of hedging risk than buy a bulk annuity solution because of advances in longevity swaps and current market conditions, according to Watson Wyatt.

  • Capita suspends cru trail commission

    29 Jul 2009

    Capita Financial Managers is suspending the renewal/trail commission to advisers who have clients invested in the £400m CF Arch cru fund range.

  • Cardif Pinnacle Investments - Flexible Corporate Asset Bond

    29 Jul 2009

    Cardif PinnacleFlexible Corporate Asset Bond

  • Careful with the China

    30 Jul 2009

    It is always refreshing to come across a fund manager who is up front with their views and is not afraid of upsetting the marketing folk on the floor below. A fund manager admitting that now is not a good time to buy their fund says more than one that proclaims that it is now a great opportunity to invest.

  • Cater Allen - Capital Guaranteed Defined Return Plan 2

    29 Jul 2009

    Cater AllenCapital Guaranteed Defined Return Plan 2

  • Cazenove appoints non-exec director

    30 Jul 2009

    Cazenove Capital has appointed Marcus Gregson as non-executive director to the board of Cazenove Capital Holdings.

  • CII champions WeightWatchers-style financial planning

    30 Jul 2009

    The Chartered Insurance Institute is recommending a new model financial health plan for women designed around the WeightWatchers scheme.

  • CII disciplinary panel found ex-ifs director was involved in leak

    29 Jul 2009

    The Chartered Insurance Institute has ruled that former ifs School of Finance director Tony Tudor received confidential CII information from a former secretary of the Insurance Institute of London.

  • Claire Barker

    30 Jul 2009

  • Commission should be a choice

    30 Jul 2009

    The recent story providing financial journalists with plenty of ammunition against financial advisers is that of £14,000 commission being paid on a £200,000 bond. It must bring revulsion to the many independent financial advisers who work hard for their clients and have modest incomes.

  • Communication breakthrough

    1 Aug 2009

    Although most financial services businesses may not readily embrace technology, it has now become embedded in the everyday lives of their customers. Those firms who take a wait and see approach to delivering new service are likely to find increasing numbers of customers rapidly taking their business elsewhere. It is hard to think of a device that has had a more profound affect on the way people run their lives than the mobile phone.

  • Completing the Picture

    1 Aug 2009

    Following the last GRAF in February this year, it concerned me to hear that employers were increasingly enquiring about their contractual liabilities and that over 82 per cent of attendees reported that their clients were looking to reduce their Group Risk benefits. With our ambition to continue to organically grow our Group Risk portfolio in 2009 and beyond, I braced myself for tough times ahead.

  • Confidence in NHS is being undermined by 'target culture' and superbugs

    1 Aug 2009

    Superbugs and 'target culture' are undermining confidence in the NHS, according to a poll by AXA PPP healthcare.

  • Consumer Panel finds gaps in regulation of decumulation products

    30 Jul 2009

    The Financial Services Consumer Panel has expressed concern that there are gaps in the regulation of decumulation products due to the different bodies that regulate them.

  • Cooksey takes lead in UKFI shake-up

    30 Jul 2009

    Chancellor Alistair Darling has appointed former Bank of England director Sir David Cooksey as chairman of UK Financial Investments. Chief executive John Kingman will be stepping down at UKFI.

  • Cost is key for pension adminsistration says Hewitt survey

    1 Aug 2009

    The current economic downturn is driving UK pension schemes to prioritise cost and quality in the way that their schemes are administered according to a survey by Hewitt.

  • Council Opinion

    1 Aug 2009

    As well as needing to understand options around members’ pension plan, people will need to think about a wide range of other lifestyle and financial planning decisions. The shift from working life into retirement or semi-retirement isn’t straightforward and can cause greatanxiety.

  • Creating a sustainable market

    1 Aug 2009

    With so little genuine new business currently on offer in the group risk market, rebroking has become a way of life for the intermediary community. And insurers can hardly be accused of bending over backwards to stop the practice. Yet some providers have been unable to make a profit in the group risk sector, raising the question of whether today's market functions in an efficient way and whether intermediaries are doing their part to create and maintain a sustainable business sector.

  • Crime watch

    30 Jul 2009

    In times of economic uncertainty, firms must be on red alert as some employees may seek extra cash by committing financial crimes such as theft and fraud, money laundering, bribery and corruption, insider dealing or a range of other offences.

  • Cycling 90 miles with over 9,800 feet of ascent, or auto-enrolling all eligible jobholders

    1 Aug 2009

    What can employers do now to get ready for 2012? With the detail on the legislation still to be finalised, you’re probably asking yourself what more, other than keeping up to date with developments in the press, you can do now. But there’s a lot that advisers and providers can do now to help their corporate clients prepare. After all, just like September’s 90-mile Bealach nam Bo cycle race in Scotland, autoenrolment and 3% employer contributions are set in stone. Here are some pointers ...

  • Daniel Godfrey to leave the AIC

    29 Jul 2009

    The Association of Investment Companies director general Daniel Godfrey is to leave the firm after 11 years.

  • DB reveals 800% rise in impaired loan provisions

    29 Jul 2009

  • Déjà vu- Keydata under review

    3 Aug 2009

  • Deutsche Bank - db x-trackers S&P US Carbon Efficient ETF

    29 Jul 2009

    Deutsche Bankdb x-trackers S&P US Carbon Efficient ETF

  • Direct mortgages £5000 cheaper than broker loans

    31 Jul 2009

    Borrowers who opt for direct mortgages are now saving up to £5000 more than those who choose an intermediary mortgage over two years.

  • Distribution dynamite

    1 Aug 2009

    The final proposals from the FSA's review of retail distribution said a lot more about group pensions than many had expected. And it would not be hyperbole to describe these proposals as astounding.

  • Don't bank on a magic bullet

    30 Jul 2009

    Years ago, in the dying days of the last Tory administration, I was covering the financial services industry for a newspaper based in Canary Wharf, along with other journalists on the same beat.

  • Double vision

    30 Jul 2009

    The announcement of a 50 per cent income tax rate (42.5 per cent for dividends) to apply to taxable income in excess of £150,000, together with the loss of the standard personal allowance for those with "adjusted net income" of over £100,000, should spur those likely to be affected to take action to reduce or eliminate exposure to the resulting additional tax.

  • Dragons deny mortgage twins' bid

    30 Jul 2009

    A pair of identical twin mortgage brokers have had their business idea rejected in BBC's Dragons' Den.

  • ETVs to bounce back in favour as bond yields fall

    1 Aug 2009

    Enhanced transfer value (ETV) exercises are firmly back on the corporate agenda as corporate bond yields fall and could even become a profit source as they did before the credit crunch says Hymans Robertson. ETV exercises, where pension scheme members are offered enhanced terms if they opt to transfer their benefits out of the company scheme, are one of only a handful of approaches open to companies looking to reduce their historic defined benefit pension liabilities, but have been put ...

  • European IFA trade body launches

    3 Aug 2009

    A new trade body, the Federation of European Independent Financial Advisers, has been set up to represent the interests of English-speaking IFAs operating in mainland Europe.

  • Ex-Citigroup Bischoff to chair Lloyds

    30 Jul 2009

    Lloyds Banking Group has appointed former Citigroup chairman Sir Win Bischoff as its new chairman to succeed Sir Victor Blank, who is stepping down in May.

  • Factoring would help advisers hold middle ground

    30 Jul 2009

    Ex-Thinc Group chief executive Simon Chamberlain unveiled his new IFA consolidation vehicle last week with a rallying cry to advisers suggesting that they do not need to focus solely on high-net-worth clients to make adviser-charging work.

  • Fairfax IM launches new private client portfolio management service

    30 Jul 2009

    Fairfax I.S., the international investment banking group, has launched a private client division offering a bespoke discretionary portfolio management service to high net worth families and trusts.

  • Fee for all?

    1 Aug 2009

    GRiD's transformation into a lobbying body with an active public profile met with controversy at the third GRAF event in London last month as adviser members criticised the way funds have been raised to pay for it.

  • Fighting for life

    30 Jul 2009

    Deutsche Bank has painted a dim picture for the future of the UK life assurance sector, claiming firms have not faced such a negative playing field when it comes to new business "in living memory".

  • Fitch affirms UK AAA status

    31 Jul 2009

    Fitch Ratings has affirmed the UK's AAA credit rating and says the rating outlook is stable.

  • Fitzwilliam sees rise in fixed Fofs

    30 Jul 2009

    Fitzwilliam Asset Management is predicting an increase in the number of fixed-income funds of funds as the multi-manager market matures.

  • Forum to share information

    30 Jul 2009

    A new forum is being set up to offer IFAs the chance to share knowledge and access expert views on financial advice.

  • Friends Provident enhances IP product

    31 Jul 2009

    Friends Provident has enhanced its income protection plan by increasing the ceasing age limit for policyholders.

  • FSA bans mortgage broker for fraud

    3 Aug 2009

    The FSA has banned a Cornwall mortgage broker for fraud after he knowingly submitted at least three applications containing false information.

  • FSA bans Newcastle Home Loans for false information

    4 Aug 2009

    The FSA has banned and fined Newcastle Home Loans for submitting false information in mortgage applications and for allowing its chief executive to operate without FSA approval.

  • FSA borrows £200m to cover spending deficit

    3 Aug 2009

  • FSA cancels adviser's permissions for failure to pay fees

    31 Jul 2009

    The FSA has cancelled the permissions of Richard Blackwood, trading as Meridian Loan Consultants, after he failed to pay £1,078 owed to the regulator in fees and levies.

  • FSA censures Cheshire Life & Pensions for income drawdown advice

    30 Jul 2009

    The FSA has imposed a public censure on Cheshire Life & Pensions for failing to ensure its advice on income drawdown products was suitable.

  • FSA issues consumer warning about Jeffery Flanders Consulting Limited

    4 Aug 2009

    The FSA has issued a warning to customers of Jeffery Flanders Consulting Limited based in Billingshurst, West Sussex to check their insurance cover.

  • FSA raised concerns about Keydata Isa practices 8 years ago

    30 Jul 2009

    The FSA raised concerns about potentially "misleading" Keydata Isa guides eight years ago, according to a Scotsman report from 2001.

  • FSA widens approved persons' regime

    30 Jul 2009

    The FSA is extending its approved persons' regime to include director and non-executive director functions at parent and holding companies where their decisions are regularly taken into account by the governing body of a regulated firm.

  • FSCS compensation payments skyrocket

    3 Aug 2009

    The Financial Services Compensation Scheme paid out £20.9bn in compensation payments in 2008/09, up from £82.93m in 2007/08, mainly attributed to the failure of five banks.

  • FSCS issues £406m levy for banking failure

    29 Jul 2009

    The Financial Services Compensation Scheme has sent invoices to banks, building societies and credit unions for the initial levy of £406m for compensation costs incurred following the five bank defaults of 2008.

  • FTSE bolstered by Barclays

    3 Aug 2009

    The FTSE 100 opened flat at 4,608 this morning but was soon lifted higher after Barclays announced £2.98bn in profits for the first six months of the year.

  • Future tense

    30 Jul 2009

    Presented with the prospect of a few weeks away from these pages, I find myself contemplating the future even more than one might expect of someone who, at least in theory, is supposed to concern himself with investment.

  • Gartmore appoints head of UK equities

    29 Jul 2009

    Gartmore has appointed Leigh Himsworth as head of UK equities.

  • Gilts deflation worry for pension schemes

    1 Aug 2009

    Pension schemes holding index-linked gilts as a match for pensions in payment need to be aware that the investment return on the gilts will reduce as a result of deflation, says actuarial firm First Actuarial.

  • GLG to launch UK select fund

    30 Jul 2009

    GLG has announced plans to launch the GLG UK select fund on August 3.

  • Govt bank bail-outs to cost £145bn

    31 Jul 2009

    The Government's intervention in the UK financial sector during the credit crunch is set to cost a significant £145bn, or 10 per cent of GDP, according to Fitch Ratings.

  • Groupama Insurances pedals for hospital

    1 Aug 2009

    Groupama's Manchester Underwriting Centre took part in the North West's biggest bike ride covering 60 miles from Manchester to Blackpool on Sunday 12th July. The team of cyclists have so far raised £1500 to date for the Wood Street Mission and Christies Hospital, both local charities. "It was a tough challenge but we've been really inspired by the two charities and we wanted to raise as much money as we could. With £1500 raised so far, I'm really proud of everyone who took part in the ...

  • Health Insurance Counter Fraud Group signs fraud agreement

    4 Aug 2009

    The Health Insurance Counter Fraud Group has signed an agreement with its US partner organisation the National Health Care Anti-Fraud Association in its fight against healthcare fraud.

  • House rules

    30 Jul 2009

    There was an amusing, but a little too accurate for comfort, remark made on a satirical comedy show recently. It was at the time of the 40th anniversary of the moon landing and the varying descriptions accorded to the International Space Station were contrasted.

  • HSBC Life - Onshore Investment Bond

    29 Jul 2009

    HSBC LifeOnshore Investment Bond

  • HSBC profits halve to £2.98bn

    3 Aug 2009

    HSBC has seen its pre-tax profits halve to £2.98bn for the first six months of 2009.

  • IFAs believe consumer access will not improve post-RDR, says NMG

    31 Jul 2009

    More than three quarters of advisers do not believe the retail distribution review will improve the availability of advice for consumers not currently engaging with the sector, according to NMG Consulting.

  • Ignis appoints five ex-New Star executives

    29 Jul 2009

    Ignis Asset Management has appointed five European regional directors and a London-based support team.

  • IMA chairman Robert Jenkins to step down

    4 Aug 2009

    The chairman of the Investment Management Association Robert Jenkins is to step down at the end of the year with Douglas Ferrans set to replace him.

  • In Retirement Services in administration

    30 Jul 2009

  • Industrial strength

    30 Jul 2009

    Global investors ignore Japanese equities at their peril since Japan may well emerge from the recession earlier than other industrialised nations and GDP growth is expected to outperform the eurozone and the US for the balance of the year.

  • Insurers could take on social insurance role

    30 Jul 2009

    Insurers could play a greater role in social insurance in a bid to save £17bn a year in welfare payments under proposals from the Insurance Industry Working Group this week.

  • Invest & Give - Invest & Give Fund

    29 Jul 2009

    Invest & GiveInvest & Give Fund

  • Jubilee delays product launch as market too high

    4 Aug 2009

    Jubilee Financial Products is to delaying the strike date of four new investment products until September 25 as it is predicting a market correction.

  • Jubilee Financial Products - Podium Deposit Account

    4 Aug 2009

    Jubilee Financial Products

  • Jubilee plan rated 9/10

    30 Jul 2009

    Jubilee Financial ProductsOptimized Growth Plan Issue One

  • Judge questions Government claim

    30 Jul 2009

    The Government failed to back up its claim that the state does not pay compensation for regulatory failure at the Equitable Life judicial review last week, according to the Equitable Life Members Action Group.

  • Just Retirement predicts dire future for wholesale funded equity release providers

    29 Jul 2009

    Equity release players which fund new business through wholesale funding are unlikely to have a future, according to Just Retirement.

  • Just Retirement records enhanced annuity increase

    29 Jul 2009

    Just Retirement recorded a 1.3 per cent dip in full year sales for its annuity and equity release business, but saw strong enhanced annuity sales for the last quarter.

  • Keydata creditors meeting to take place Aug 17

    4 Aug 2009

    PricewaterhouseCoopers will be holding a creditors meeting on August 17 to approve the administrators proposals for achieving the purpose of the Keydata administration.

  • Keydata's Ford loses court bid to block FSA access to data

    30 Jul 2009

    Keydata founder Stewart Ford has lost a court bid to prevent the FSA from accessing a company computer server as part of its investigation.

  • L&G posts £720m loss and slashes dividend by 45 per cent

    4 Aug 2009

    Legal & General has slashed its dividend by 45 per cent to 1.11p per share compared with 2.01p last year as it posts a £720m loss on ordinary activities after tax on an EEV basis, a massive fall from the £73m profit announced in H1 last year.

  • L&G records increased STP rates

    30 Jul 2009

    Over half of Legal and General protection applications submitted online are being accepted at point of sale, research reveals today.

  • L&G's shares fall on dividend cut fears

    3 Aug 2009

    Legal & General was one of the biggest fallers in the FTSE 100 this morning as investors fear a dividend cut will be announced as part of the firm's interim results tomorrow.

  • Lazard expands UK equity team

    29 Jul 2009

    Lazard Asset Management has appointed Lloyd Whitworth as a portfolio manager to its UK equity team.

  • Levy breaks consensus on GRiD relaunch

    1 Aug 2009

    Advisers are demanding a rethink on the way fees for Group Risk Development (GRiD) are being levied after the organisation raised costs by a factor of 13.

  • Life offices look for regulatory clarity

    30 Jul 2009

    Insurers and asset management firms will be seeking strong assurances from the Conservatives that the Bank of England will be bolstered to regulate sectors it has previously not dealt with.

  • Liontrust unveils European absolute return fund

    29 Jul 2009

    Liontrust’s European absolute return fund is designed to produce positive returns in all market conditions by investing long in equities and using derivatives to create short positions.

  • Long distance

    30 Jul 2009

    For the past 20 years, the pension industry has been talking about rising longevity with an increasing air of panic. How it affects the funding calculations for defined-benefit schemes, the pensions of those saving in a defined-contribution scheme or how people will phase in retirement rather than select one date to collect the carriage clock.

  • Luckraft funds on black list

    30 Jul 2009

    Principal Investment Management has blacklisted George Luckraft's Axa Framlington equity income and monthly income funds in its latest income study.

  • M&G seizes second spot in fund league

    30 Jul 2009

    M&G has leapfrogged Fidelity to become the second-biggest asset manager for UK retail funds under management.

  • Macquarie appoints John Porteous as head of distribution

    3 Aug 2009

    Macquarie has appointed John Porteous as head of distribution within its banking and financial services group.

  • Manager focus: Russell Cleveland

    31 Jul 2009

  • Michael Bolton back with equity release start-up

    29 Jul 2009

    Ex-edeus duo Michael Bolton and Terry Pritchard have set up an equity-release support services firm, Charterhouse Retirement Solutions.

  • Mike Kellard- political uncertainty must not derail RDR

    30 Jul 2009

    As the RDR rumour mill continues to grind and politicians grapple with proposals for the financial services industry, AXA Winterthur believes the industry must cast political distractions aside and focus on the RDR’s long-term merits for savers and investors.

  • Mirae appoints distribution heads

    4 Aug 2009

    Mirae Asset Global Investments has announced the appointments of Hendrik Cosijn von Ripperda as head of distribution – EMEA (ex-UK) and Elliot Berman to senior manager EMEA (ex-UK) distribution.

  • Money Marketing top choice

    30 Jul 2009

  • Moody’s downgrades Santander

    30 Jul 2009

    Moody’s has downgraded Banco Santander by one notch due to its large expose to the Spanish, US and UK economies.

  • Morgan Stanley hires ex-Quantum head of structured products sales

    3 Aug 2009

    Morgan Stanley has appointed Neville Godley as vice president of its retail structured products distribution team.

  • Mortgage Brain to launch new sourcing system

    3 Aug 2009

    Mortgage Brain is launching a new mortgage sourcing system for intermediaries in Q4 this year.

  • Mortgage lending approvals increase

    29 Jul 2009

    Mortgage lending approval figures improved in June, according to the latest data from the Bank of England.

  • MPs say FSA failed in supervisory role on Dunfermline

    30 Jul 2009

    The Scottish Affairs Committee says the FSA failed in its supervisory role in the run-up to the collapse of Dunfermline Building Society.

  • Munich Re records £934m profit

    4 Aug 2009

    Munich Re has recorded a £934m profit for the first half of the year, down 16.6 per cent for the same period last year.

  • Nationwide says house prices may rise over 2009

    30 Jul 2009

    Nationwide has predicted positive house prices growth for the rest of 2009 as house prices have continued to rise by 1.3 per cent in July.

  • New offshore tax amnesty

    30 Jul 2009

    HMRC has announced a second tax amnesty for offshore accounts. People making disclosure face a fixed penalty of 10 per cent.

  • New structures

    1 Aug 2009

    Advisers gave a mixed report card on innovations that have been introduced to the group risk market in recent years, supporting new structures that tie in clients in return for reduced premiums akin to those available in the mortgage market, but less keen on some new solutions already on offer.

  • No cure for the befuddled FSA

    30 Jul 2009

    As the swine flu pandemic breeds shock-horror tabloid headlines, a far more dangerous condition continues its inexorable creep, producing even more worrying long-term health concerns for UK plc.

  • Northern Rock reports £724.2m loss

    4 Aug 2009

    Northern Rock has seen a pre-tax loss of £724.2m in the six months to June 30, 2009, compared to a loss of £585.4m for the same period last year.

  • Northern Trust late bidder for Insight, say reports

    4 Aug 2009

    Northern Trust has made a late bid to buy the majority of the Insight business, according to reports.

  • Novia offers seven cash accounts to users

    30 Jul 2009

    Novia is now offering its users access to seven cash accounts on its platform.

  • OFT to open door for new entrants to banking sector

    30 Jul 2009

    The Office of Fair Trading says it is in discussions with the Government to help facilitate the entry of new players into the banking sector.

  • Online protest at dual-pricing

    30 Jul 2009

    An online petition on the Downing Street website against dual-pricing in the mortgage market has received 383 signatures.

  • Open up the toolbox

    30 Jul 2009

    You can always tell when a holiday season is approaching. Those nice folk down at Canary Wharf come up with a nice big consultation paper for all of us to read. Who wants to be sitting on the beach reading the latest offering from John Grisham or Matt Beaumont when you can thrill to the joys of CP09/18?

  • Pada spends £31m in first full year

    1 Aug 2009

    The Personal Accounts Delivery Authority spent £30.9m in the 2008/09 fiscal year. Pada's first annual report and accounts says key challenges for the coming year include the on-going procurement process to engage a supplier to provide scheme administration services, consulting on investment strategy and, with DWP, consulting on the Scheme Order & Rules. Pada is also considering what might need to be put in place to enable the establishment of - and handover to - the trustee corporation ...

  • Paradigm Norton stake for Macquarie

    30 Jul 2009

    Macquarie Bank has taken a minority stake in Paradigm Norton Financial Planning. The Australian bank says it remains "open minded" about further investment in UK IFAs.

  • Park Row chief completes Paris bike challenge

    31 Jul 2009

  • Passive aggressive

    1 Aug 2009

    Three big outfits - BGI, L&G and State Street - dominate the index-tracking arena in the UK. Now they have a rival in the shape of US giant Vanguard. The tracker pioneer has just launched its first tracker funds aimed at British retail investors and is expected to be targeting workplace pensions later down the line.

  • Patrick Evershed wins right to pursue New Star

    30 Jul 2009

    Patrick Evershed has won the right to pursue a claim for compensation at an employment tribunal against New Star Asset Management, according to the Guardian.

  • Pension transfers

    30 Jul 2009

    I have 30 employees and I am about to take on five new employees from another company where, under TUPE - Transfer of Undertakings (Protection of Employment) Regulations 1981 - it has been agreed that I will contribute into a pension for them. What are my options?

  • Pensions Ombudsman clears case backlog

    1 Aug 2009

    The Pensions Ombudsman says the organisation's backlog has been cleared and that 1,196 cases were closed in the year to March 2009, only 30 per cent of which needed a formal determination.

  • PIMS poll shows Money Marketing still No.1

    29 Jul 2009

    Money Marketing has again retained the coveted title of top IFA weekly newspaper in the 2009 PIMS readership research.

  • Planning permission

    30 Jul 2009

    You may be aware, as it is not something that I have kept particularly secret, that I am a big fan of life planning. It is a subject that is very close to my heart and I believe it is essential to the future of financial planning.

  • Portal in a storm

    30 Jul 2009

    Honister Capital has defended itself against the industry outcry that greeted its Money Portal deal, saying that few misselling liabilities are likely to have been dumped and the alternatives were worse for advisers and clients.

  • PosSol partnerships initiative attracts over 250 partners

    4 Aug 2009

    More than 250 partners have signed up to Positive Solutions’ Positive Partnerships initiative.

  • PPF deficit rises by more than a tenth in 'summer of scheme closures'

    1 Aug 2009

    Pension scheme funding levels for all UK pension schemes have worsened by more than 10 per cent in the period to the end of June, according to figures published by the Pension Protection Fund. Assets were £200bn less than the cost of securing the benefits the PPF aims to pay out when companies become insolvent, compared with a £179bn deficit at the end of May.

  • Premier seeks alternatives to boost income

    30 Jul 2009

    Premier's multi-asset team is focusing on alternatives to UK equity income funds as a source of income for its multi-asset distribution fund.

  • Property fund manager Dossett quits Henderson

    30 Jul 2009

    Henderson New Star UK property fund manager Roger Dossett is leaving the firm to pursue his own property interests.

  • PTFS closes down secured arm

    31 Jul 2009

    Personal Touch Financial Services has revealed it is shutting down its secured loan subsidiary, needaloan.co.uk.

  • RBS Intermediary Partners offers track and switch

    3 Aug 2009

    RBS Intermediary Partners2 Year Base Rate Tracker

  • RDR charging raises platform fears

    30 Jul 2009

    Administering adviser-charging through platform cash accounts could create confusion as to whether the fund provider or platform is responsible for overseeing the process, say industry experts.

  • Regulator is owed fees by 1,692 companies

    30 Jul 2009

    The FSA has revealed that it is currently owed outstanding fees by a total of 1,692 regulated firms.

  • Regulator is right to have concerns over life cover

    30 Jul 2009

    I notice that your edition of July 16 had significant space devoted to Mr Dan Waters' comments concerning the potential missselling of life insurance. At the risk of being lynched by many of your readers, I have to say that I see exactly where Mr Waters is coming from and that from where I stand he certainly has a point.

  • Resolution ponders new Friends' offer

    30 Jul 2009

    Resolution is consulting shareholders on a potential new offer for Friends Provident following Friends' rejection of its latest offer on Monday, when Friends announced it had terminated discussions with Resolution.

  • Rewind and relax

    1 Aug 2009

    As many of us settle down on our towels by beach or pool, we will surely find it impossible not to reflect on a period of unprecedented change. By the time schools reopen it will be two years since the run on Northern Rock, and the difference between both the business and the consulting environment then and now is phenomenal.

  • Rivals Towers and Watson to merge

    1 Aug 2009

    Towers Perrin and Watson Wyatt Worldwide are to be brought together in a new company called Towers Watson & Co in what is being billed as a merger of equals.

  • Rock shareholders lose review bid

    30 Jul 2009

  • Role call

    30 Jul 2009

    Now is the time to remain committed to the positive proposals that have been made in the FSA's retail distribution review consultation paper.

  • Sale and rentback firms change ads after OFT challenge

    31 Jul 2009

    Twelve sale and rentback firms have changed or removed their adverts after the Office of Fair Trading challenged some of their claims.

  • Sally Laker - sub-prime return needed to aid recovery

    4 Aug 2009

    It is comforting to read some of the latest house price statistics and to be able to draw some strength from them regarding the medium term prospects for the housing market.

  • Santander UK profits up 43%

    29 Jul 2009

    Santander has revealed its UK profits have increased by more than 40 per cent over the last 12 months.

  • Scot Prov teams up with True Potential

    3 Aug 2009

    Scottish Provident is teaming up with True Potential to give users access to its protection range.

  • Scott McKenzie to leave Martin Currie

    31 Jul 2009

    Martin Currie UK equity income manager Scott McKenzie is leaving the firm to pursue other opportunities.

  • Scottish Widows - Capital Protected Fund 12

    31 Jul 2009

    Scottish WidowsCapital Protected Fund 12

  • SFO officially launches investigation into Keydata

    4 Aug 2009

    The Serious Fraud Office has confirmed that it has officially launched an investigation into Keydata Investment Services.

  • Shanks joins MGM Advantage as CFO

    30 Jul 2009

    MGM Advantage has appointed Geoff Shanks as chief financial officer from Zurich Financial Services.

  • Shiels for Gartmore intermediary sales

    30 Jul 2009

    Gartmore has appointed Warren Shiels as head of intermediary sales.

  • SJP forced to change guidance on solicitor referrals

    4 Aug 2009

    St James’s Place has been forced to issue new guidance to its partner firms after the Solicitors Regulation Authority confirmed that referrals by solicitors for investment advice can only be made to IFAs.

  • Skandia MultiFunds - Protected Portfolio Investment

    4 Aug 2009

    Skandia MultiFundsProtected Portfolio Investment

  • Skipton appoints finance director

    29 Jul 2009

    Skipton has appointed Tom Wood as group finance director with effect from September 7, subject to FSA approval.

  • Snapshot of trust-based DC landscape launched as TPR calls for higher standards

    1 Aug 2009

    The average contribution into trust-based pensions is £4,356 a year, 25 per cent of which is paid by the employee, according to a major new report from the Pensions Regulator.

  • St James's Place profits dip 11%

    29 Jul 2009

    St James's Place have reported an 11 per cent dip in profits for the first half from £114m last year to £101m for the first six months of 2009.

  • Standard Life to stop paper commission statements by October

    29 Jul 2009

    Standard Life will no longer issue paper commission statements from October 16.

  • Structured Oeic plan by Morgan Stanley

    30 Jul 2009

    Morgan Stanley is looking to launch its first structured product within an Oeic.

  • Suitability key for group Sipp growth

    1 Aug 2009

    The growth of group Sipp will be restrained by the same suitability issues affecting the individual Sipp market, meaning they will only be rolled out where there is a genuine need, says Defaqto.

  • Sun shines for F&C

    29 Jul 2009

  • Suuqea warns firms not to sell in current climate

    4 Aug 2009

    Consultancy firm Suuqea is warning owners of IFA firms not to rush to sell their businesses in the current economic climate ahead of the RDR.

  • SVM drives performance with Quorum convertibles

    29 Jul 2009

    SVM’s balanced managed fund is up 19 per cent over the first half of the year compared to the IMA balanced managed sector average of 1.2 per cent.

  • T1ps Investment Management - SF t1ps Smaller Companies Gold Fund

    30 Jul 2009

  • T1ps ups number of funds

    3 Aug 2009

    T1ps Investment Management, a subsidiary of media and financial services group Rivington Street Holdings, has launched its third fund.

  • Thames River looks at full disclosure

    31 Jul 2009

    Thames River Capital is revamping its multi-manager fund factsheets, with full disclosure of all the holdings in its portfolios a probability.

  • The line of Succession

    30 Jul 2009

    Former Thinc chief executive Simon Chamberlain says the model of his new consolidation vehicle shows advisers do not have to concentrate on the very wealthy to succeed under the FSA's retail distribution review.

  • The longer goodbye

    30 Jul 2009

    The default retirement age of 65 could shortly be a thing of the past judging by recent Government proposals.

  • The many faces of Barclays

    29 Jul 2009

  • Tight grip is the right way

    30 Jul 2009

    It was a Sunday just after 9am, in my kitchen watching the Andrew Marr Show, when I had one of those spitting my cornflakes moments. It was at the beginning of the interview when Marr casually asked George Osborne what the Conservatives will do about financial regulation in the country starting with the FSA. Osborne's reply was bold and to the point: "We are going to abolish the Financial Services Authority".

  • Tom Baigrie- we must prove case for protection commission

    4 Aug 2009

    There has been much protest at the FSA’s floating of the suggestion that the tenets of the retail distribution review could be extended to markets beyond its primary remit, specifically into the area that often concerns this column, protection.

  • Top title

    30 Jul 2009

    Money Marketing once again triumphed in the PIMS readership research of top-end financial advisers, comprehensively retaining the crown of top weekly IFA newspaper. The research shows the paper is the most well read and credible weekly title and has the best coverage by a considerable margin. We would like to thank our readers for helping us to stay number one.

  • Tories' axe plan brings uncertainty for FSA and advisers

    30 Jul 2009

    The FSA says the Conservatives' proposal to scrap the regulator increases uncertainty for the industry and has made it difficult for the FSA to recruit key staff.

  • Two-thirds of advisers fail Which? release test

    30 Jul 2009

    Two-thirds of advisers failed to pass all the benchmarks for good advice on equity release set by consumer group Which? in a recent mystery-shopping exercise.

  • UK execs lag behind US in ability to pay for pensions

    1 Aug 2009

    Senior finance executives at UK companies are less confident than their US and Canadian counterparts in accessing cash to fund retirement commitments over the next two years, according to research by Towers Perrin. The research of 439 senior finance executives from large US, UK and Canadian firms in response to economic turmoil found that 61 per cent of Canadian senior finance executives are certain they have adequate access to cash to fund retirement commitments, followed by the US with ...

  • UK lenders may lose £150bn by 2011, says S&P

    30 Jul 2009

    UK banks and building societies could lose as much as £150bn in loan credit losses by the end of 2011, according to a report by Standard & Poor’s.

  • Unum increases free cover limit to £1.75m for group life offering

    1 Aug 2009

    Unum is increasing its free cover limit to £1.75 million for its group life offering, and claims the development makes it the highest available in the market. The new free cover limit, equal to the lifetime allowance set by the Government for pensions savings, will be based on a tiered approach so that the maximum amount will be available for larger cases. Unum has also extended its 'Once & Done' medical underwriting approach to group life policies above 20 lives, up to a maximum benefit ...

  • Vanguard Investments UK - Emerging Markets Stock Index Fund

    3 Aug 2009

    Vanguard Investments UKEmerging Markets Stock Index Fund

  • Vanguard Investments UK - Japan Stock Index Fund

    3 Aug 2009

    VANGUARD Investments UKJapan Stock Index Fund

  • WAY Fund Managers CEO retires

    3 Aug 2009

    WAY Fund Managers chief executive David Pook is retiring at the end of September.

  • Wealth through health

    1 Aug 2009

    With employee benefits budgets under pressure, corporate clients could be tempted to cut back on the health and wellbeing benefits they provide for their employees. But, according to the experts, this can be one of the most important benefit areas in the current climate.

  • Website Comments: On whether a Tory Government may change the RDR

    30 Jul 2009

    If the Conservatives form a Government next year and take a decision to abolish the FSA, a piece of complex legislation will be necessary, accompanied by a major period of regulatory personnel changes. I cannot see that being done by 2012.

  • West Brom may rebrand to shake "tarnished" image

    30 Jul 2009

    West Bromwich building society may be rebranded as it looks to move away from its “tarnished" reputation, according to reports.

  • Yield switch

    30 Jul 2009

    For most investors, the last couple of years have been challenging so many are loathe to take risks. Risk aversion may come at a price, however, if it is predicated on false assumptions surrounding risk. The adage that government bonds are "risk-free" has been wheeled out so many times that the maxim has replaced fact.

  • Zero hour

    1 Aug 2009

    Anecdotal tales suggest The Beatles were one of the first to make use of split capital investment companies (splits) in a bid to shelter their generous incomes from the hefty income tax regime of the time. But while the Association of Investment Companies (AIC) cannot verify that one, communications director Annabel Brodie-Smith suggests it would have made good financial sense.

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Money Marketing 7 June 2012


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