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29 October 2008

Money Marketing

  • Axa pension has auto rise in savings

    30 October 2008

    Axa will offer a new company pension scheme called Save More Tomorrow that automatically increases levels of contributions over the pension's duration.

  • Hallam joins PSigma equities team

    30 October 2008

    PSigma has recruited David Hallam to its UK equities team from stockbrokers Fiske. He has also worked for Williams de Broe

  • Pru quits quest for Equitable annuities

    30 October 2008

    Prudential has ended its efforts to acquire the £7bn with-profits annuities of Equitable Life. The moves comes 18 months after Pru and Equitable reached an agreement in principle.

  • 15 Firms sign up in bid to cut transfer times

    30 October 2008

    The Association of British Insurers claims it will bring annuity transfer times down to 30 days with a new initiative between providers and e-commerce standards body Origo.

  • 3,000 Firms hit by Gabriel crash

    30 October 2008

    Thousands of adviser firms are still awaiting the green light from the FSA to submit outstanding RMAR reports after the new filing system, Gabriel, crashed last week.

  • Adviser Fund Index

    30 October 2008

    Europe has been described as the laggard of the credit crunch after its economic resilience during the early stages of the crisis proved a false hope for investors looking for a safe haven.

  • Advisers say main MPPI drawback is limited cover period

    29 October 2008

    More than half of financial advisers say the main drawback of traditional mortgage payment protection insurance is the limited cover period.

  • Advisers want single professional body to work on standards

    30 October 2008

    Leading advisers are calling for a single professional body to represent the interests of IFAs in the debate over qualifications and the retail distribution review.

  • Aegon adds warning to bond literature

    30 October 2008

    Aegon Scottish Equitable International has slapped a warning across its offshore deposit rate factsheets stressing that no due diligence has been done on deposit-takers in its offshore bond.

  • Aifa urges FSA to separate the "barbers" from the "surgeons"

    3 November 2008

    The Association of Independent Financial Advisers has urged the FSA to use its retail distribution review to help consumers re-engage with savings and support the development of a distinct advisory profession.

  • AIG Private Clients launches new bond offering

    31 October 2008

    AIG Private Clients is offering guaranteed income bonds and premier bond guaranteed funds for high net worth clients with interest rates of 8 per cent for investments of over £500,000.

  • All credit to Paribas

    30 October 2008

    Against the current backdrop of falling markets and dwindling investor returns, many investment management firms have championed absolute return funds as lower-risk alternatives to the equity portion of a portfolio. However, few of these have offered any element of capital protection.

  • Apollo mission to find multi teams

    30 October 2008

    Apollo Multi-Asset Management partner Tom McGrath says he is keen to follow the Thames River model by acquiring teams of managers to build the boutique.

  • Asia tipped but US slump poses global dangers

    30 October 2008

    Asia was the top tip for investors brave enough to jump back into equities from panellists at the Adviser 2008 investment question time.

  • Axa backs Dragon's start-up

    29 October 2008

    Insynergy Investment Management has signed an exclusive distribution agreement with Axa UK multi-manager arm Architas to market its funds to the retail market.

  • Axa backs Dragon's start-up

    30 October 2008

    Insynergy Investment Management has signed an exclusive distribution agreement with Axa UK multi-manager arm Architas to market its funds to the retail market.

  • Bank lending figures show muted recovery

    29 October 2008

    Lending to individuals rose slightly in September but still remains extremely muted.

  • Bankhall's Howells joins Zurich

    30 October 2008

    Zurich has appointed Bankhall's managing director of strategy and development Richard Howells as UK IFA sales director.

  • Banks face five-year profit fight

    30 October 2008

    The UK banking sector may not be in profit for at least the next five years.

  • Banks lose their chance for leeway in the RDR

    30 October 2008

    Threesixty believes that the FSA will stand firm against lobbying from banks to water down the retail distribution review as the credit crisis has exposed their failings.

  • Barclays told clients AIG fund was 'secure'

    30 October 2008

    Barclays Wealth is facing questions after describing the recently frozen AIG enhanced fund as an "extremely secure account" offering "instant access" to funds in client correspondence.

  • Barrie and Hibbert launch product risk service

    30 October 2008

    Global finance market risk modeling firm Barrie and Hibbert has launched a new service aimed at helping financial services companies understand and communicate the risks of financial products.

  • Bathurst moves to JO Hambro

    30 October 2008

    JO Hambro Investment Management has appointed Charles Bathurst as director and head of fund distribution. He joins from Old Mutual Asset Managers (UK), where he was director of international distribution.

  • Bluefin's SBJ Group acquires EB Consultants

    4 November 2008

    Employee benefits firm SBJ Group has acquired actuarial and pensions administration firm EB Consultants.

  • BNY Mellon Asset Management expands in Middle East

    4 November 2008

    BNY Mellon Asset Management has appointed Thomas Connolly as managing director of the asset management business in the Middle East.

  • BoE ignored its own flaws, says New Star

    30 October 2008

    The Bank of England has failed to recognise it’s own part in the current financial downturn, says New Star.

  • Broker Talkback

    30 October 2008

    Does the concern over offshore bond investors in insolvent banks losing their savings make you less likely to recommend the product in future?Yes 88%No 12%

  • Called to account

    30 October 2008

    The case of Sillars and another versus Inland Revenue Commissioners in 2004 concerned an inheritance tax planning exercise under which, on the advice of her accountant, a mother transferred her building society account into the joint names of herself and her two daughters. All subsequent transfers into the account were made by or derived from the mother.

  • Capita signs £130m outsourcing deal with Abbey Life

    4 November 2008

    Capita has signed a 10-year deal worth £130m with Deutsche Bank to provide outsourcing services for Abbey Life's 1.1 million life and pensions policies.

  • Captain Mainwaring's back at the bank

    3 November 2008

    Captain Mainwaring has returned to the Walmington-on-Sea bank branch after many years' absence to find Lance Corporal Jones and Private Walker in charge.

  • Cathedral responds to turmoil with discretionary service

    30 October 2008

    Cathedral Financial Management has introduced a discretionary investment management service for clients.

  • Chris Smallwood

    30 October 2008

    It gave me a good grounding," says 2plan Wealth Management chief executive Chris Smallwood as he reflects on his early days selling life insurance.

  • Churn baby churn

    4 November 2008

    Protection experts are warning against re-churning a client's existing protection cover, and instead are calling for greater understanding around old and new policies, and in what circumstances an adviser should rebroke.

  • CII to be rebranded after Australian and New Zealand merger

    30 October 2008

    The Chartered Insurance Institute has announced a merger with the Australian and New Zealand Institute of Insurance and Finance and will be re-branded the Chartered Institute of Financial Services.

  • CML frustrated by slow action

    30 October 2008

    The Council of Mortgage Lenders says it is "frustrated" by the results of the Bank of England's latest financial stability report. It says it shows why the Government should have heeded its calls to help the securitised market earlier.

  • Competent Adviser re-launches upgraded compliance website

    29 October 2008

    Competent Adviser has revamped its website providing tools to assist firms in the assessment and competency of staff to support compliance and development needs.

  • Concerns over investment trusts breaking banking covenants - Nick Greenwood fears split-cap repeat

    31 October 2008

    Midas Group investment director Nick Greenwood believes the investment trust industry could be set for a repeat of the split-cap debacle as concerns continue to rise over banking covenants.

  • Condemned structure

    30 October 2008

    Ten years ago, we had first sight of those wonderful investments which we now call structured products. The original ones were at best deceptive, the worst bordered on criminal.

  • Cool cash

    30 October 2008

    Perhaps we need some "cool" long-term money to go with the hot.

  • Corporate CAR clash looming on pensions

    30 October 2008

    Standard Life says the FSA must apply customer-agreed remuneration to corporate as well as individual pensions or providers could write individual schemes as group business to escape the new requirements.

  • Costume drama

    30 October 2008

    The FSA has challenged the industry to put forward ideas for new sales services that deliver better outcomes for consumers.

  • Crosby's Apollo set for take-off

    30 October 2008

    Crosby Asset Management is launching Apollo Multi-Asset Management, a new joint venture.

  • Darby takes over as Towergate chief

    30 October 2008

    Towergate Financial has appointed ex-John Charcol chairman Ian Darby as its chief executive.

  • Darkness and light

    30 October 2008

    If credit ratings did not exist, they would have to be invented. Like that other easy target for criticism when the prediction does not come true - the weather forecast - it is still far better to have professional expertise applied to trying to solve a very difficult problem than none at all.

  • Darling to relax fiscal rules

    30 October 2008

    Chancellor Alistair Darling has revealed he is to relax the Government’s fiscal rules which Gordon Brown built his economic reputation on.

  • Darling's wrong position on the Isle of Man

    4 November 2008

    Chancellor Alistair Darling’s sabre rattling in the direction of the Isle of Man, even if it came in the stressful circumstances of a Treasury select committee grilling, is very unfortunate.

  • DC slump raises fears over pension income

    30 October 2008

    Standard Life is warning that up to 100,000 pension policyholders with balanced managed funds looking to retire this year may not have lifestyling arrangements in place.

  • Deferrals see annuity sales start to slip

    30 October 2008

    Just Retirement has reported a slight downturn in annuity sales and warns that the annuity market will be affected by a large number of potential annuitants deferring taking their benefits.

  • Dragon's deal aims for investment innovation

    30 October 2008

    Dragons' Den star James Caan has struck a deal with Axa that will see the insurer give financial backing to his new investment firm Insynergy's first two products.

  • Dutch state cash scheme backs Aegon with £2.4bn

    30 October 2008

    The Dutch government has pumped £2.4bn into Aegon to strengthen the firm's capital position.

  • Early learning

    30 October 2008

    As we teeter on the edge of a recession, there is one big organisation that has a task in front of it that has become decidedly more difficult.

  • Euro companies to come back stronger by 2010

    30 October 2008

    Company results for continental Europe will be poor in the coming months but firms will emerge stronger in 2010, claims Henderson EuroTrust manager Tim Stevenson.

  • European recession is coming, says Moody’s

    29 October 2008

  • Ex Skandia head of ebusiness joins Distribution Technology

    31 October 2008

    Distribution Technology has appointed ex Skandia head of e business Alison Everett as it product manager for financial planning tools.

  • F&C assets under management down 3 per cent over quarter

    31 October 2008

    F&C Asset Management has revealed its assets under management dropped 3 per cent over the past quarter to £93.3bn.

  • Faith in property as a pension declines dramatically

    4 November 2008

    Consumers’ faith in bricks and mortar to fund their retirement has taken a severe battering over the past year, according to new research from Alliance Trust.

  • Final salary pensions to face £225bn bill, says Aon

    30 October 2008

    Aon Consulting warns trustees will ask sponsor companies for an extra £45bn a year for the next five years as the funding deficit for the 200 largest privately sponsored pension schemes fell by £9bn to a deficit of £15bn.

  • FirstRand Private Wealth Management launches in Channel Islands

    3 November 2008

    South African based wealth manager FirstRand is expanding its wealth management services into the Channel Islands.

  • Fofs could fall foul of IMA yield rules

    30 October 2008

    T Bailey analyst Elliot Farley is warning that the Investment Management Association's new yield rules for UK equity income funds could cause problems for fund of fund managers.

  • Fortis Life in Click cover deal

    30 October 2008

    Fortis Life UK is teaming up with online provider Click to offer Click for Life cover, just three months after it linked up with Lifesearch to offer Real Life Cover and Your Life Plan.

  • Friends Prov to distribute F&C stake amongst shareholders

    31 October 2008

    Friends Provident has revealed it plans to distribute its 52 per cent stake in F&C Asset Management to shareholders and retain Lombard International.

  • FSA banking regulators to receive bonuses

    4 November 2008

    Regulators at the FSA have carried out “pretty good work” this year and will be paid bonuses for their efforts, according to chairman Adair Turner.

  • FSA fee update: Regulator to help new firms - insurers' fees to be raised

    30 October 2008

    The FSA is proposing new rules to ensure newly authorised firms and firms extending their permissions are not paying too much in fees and levies in their second year.

  • FSA fines Sindicatum Holdings Limited £49,000

    29 October 2008

    The FSA has fined Sindicatum Holdings Limited £49,000 and its money laundering reporting officer Michael Wheelhouse £17,500 for systems and controls failures.

  • FSA may regulate "everyday banking"

    4 November 2008

    The FSA is considering whether to extend its remit to the regulation of “everyday banking” when it takes on new powers over banks and building societies in November next year.

  • FSA to check if firms have kept to with-profits rules

    30 October 2008

    The FSA is to carry out a review of with-profits to establish whether providers have properly implemented rules that have been required for the last three years.

  • FSCS puts Icesave on fast track for redress

    30 October 2008

    The Financial Services Compensation Scheme is speeding up compensation for 200,000 retail depositors with savings in Icesave UK.

  • Funds lose nearly 50% after oil price falls

    30 October 2008

    The collapse in the oil price has contributed to SVM Asset Management UK opportunities fund losing almost half its value in the last three months, according to Financial Express.

  • Gay support could win protection sales

    30 October 2008

    Protection providers which support gay rights issues are likely to win over significant numbers of new gay customers, according to research from Media Relations Management.

  • Geometry lessons

    30 October 2008

    Association of Mortgage Intermediaries director general Chris Cummings welcomes the fact that the authorities have finally heeded his call for a radical industry support package.

  • Good as gold

    30 October 2008

    At times when there is a global financial crisis, a lot of investors turn to gold. In March this year, at the time of the Bear Stearns' collapse, gold rose to over $1,000 an ounce but it fell back again and at the time of writing it is around $860 an ounce.

  • Government reveals arms-length bank manager

    3 November 2008

    The Government has revealed its “arms-length” company which will control its banking interests.

  • Government to take "a long hard look” at Isle of Man’s tax haven status

    3 November 2008

    Chancellor Alistair Darling has told MPs the Government is to take "a long hard Look” at the Isle of Man’s status as a tax haven.

  • Group Sipps will experience significant growth, says EPM

    30 October 2008

    The group Sipp market has become an attractive alternative to group money purchase schemes and will see significant growth over the coming year, according to European Pensions Management.

  • Hargreaves hits out at structured sales

    30 October 2008

    Hargreaves Lansdown chief executive Peter Hargreaves has lashed out at structured product providers suggesting they are only ever interested in making a profit.

  • Hartford set for German move

    30 October 2008

    The Hartford has confirmed that as part of its European expansion it will launch in to Germany in the first quarter of 2009, starting with a variable annuity product.

  • HBOS ex-staff hit out at “sell, sell, sell” mentality

    31 October 2008

  • HBOS/Lloyds TSB merger proceeding to plan

    3 November 2008

    The proposed takeover of HBOS by Lloyds TSB is proceeding according to plan, according to an interim management statement released today by the lender on the London Stock Exchange.

  • Hodge Lifetime expands in retirement sector

    3 November 2008

    Hodge Equity Release has revealed it is to expand to IFAs in the retirement market, becoming Hodge Lifetime.

  • Home & Capital teams up with Assureweb

    3 November 2008

  • House prices fall by nearly 15%

    30 October 2008

    House prices in the UK fell by 14.6 per cent in October, compared to 2007 levels.

  • How fair is the welfare?

    30 October 2008

    This week marked a massive shift in the UK benefit system as the changes in the Welfare Reform Act made their way into UK law.

  • Iceland bank still looking at London buy

    30 October 2008

    Icelandic investment bank Straumur-Burdaras is still looking at acquiring London-based investment bank Teathers, formerly Teather & Greenwood. Straumur had previously wanted to acquire the majority of troubled Landsbanki's overseas corporate finances and brokerage businesses which included Teathers.

  • IFAs want equal regulation across the span of products

    30 October 2008

    IFAs want a levelling of regulation on pensions and investments and simpler products such as mortgages and general insurance.

  • Insight replaces multi-manager heads

    29 October 2008

    Insight co-heads of multi-manager Patrick Armstrong and Ana Cukic-Armstrong look set to leave the firm following a restructure of the multi-manager business.

  • Insight selects head of emerging markets

    30 October 2008

    Insight Investment has appointed Colm McDonagh to its fixed income team as head of emerging markets. McDonagh joins from Hydra Capital Management.

  • Insynergy announces fund manager pairing

    3 November 2008

    Insynergy Investment Management has announced the appointment of Crispin Odey and Gulf Finance House’s Ian Lancaster to manage the firms' first two fund launches.

  • IOM Treasury hits back at Alistair Darling’s warning on ‘tax haven’ status

    4 November 2008

    The Isle of Man Treasury has hit back at Chancellor Alistair Darling’s comments yesterday suggesting the UK Government is to review its ties with the offshore “tax haven”.

  • Jordan says small platforms could face a struggle

    30 October 2008

    Skandia head of proposition marketing Peter Jordan has warned independent platforms hoping to sell their business that they may have "missed the boat".

  • JP Morgan to modify $70bn bad mortgages

    3 November 2008

    JP Morgan has revealed it is set to renegotiate $70bn of bad mortgages on its books in an attempt to curb repossessions and arrears.

  • Jupiter appointed investment manager for Landsbanki Luxembourg Investment Fund

    3 November 2008

    Jupiter Asset Management has been appointed investment manager for the Landsbanki Luxembourg Investment Fund.

  • KSF Action Group calls on MPs to bring Darling and Turner to account

    31 October 2008

    The Kaupthing Singer & Friedlander Isle of Man Depositors Action Group has called on the Treasury select committee to force Alistair Darling and Lord Turner to explain the UK Government and FSA's actions in the run up to the collapse of the bank.

  • L&G and Investec join forces for fund launch

    3 November 2008

    Legal & General has teamed up with Investec to launch a new fund that will offer investors a no loss optional guarantee on its fifth anniversary.

  • Lasting the course

    30 October 2008

    Sadly, my mother has started to show the onset of dementia and I would like to take control of her finances. What do I need to be aware of and what do I need to do?

  • Lenders hike up trackers yet again

    3 November 2008

    Abbey and Nationwide have raised their tracker mortgages on the eve of an imminent Base Rate drop.

  • Libor forecast to fall as rescue gets a grip

    30 October 2008

    The Bank of England has predicted that Libor rates will fall in the near future as the Government's investment into the market begins to take effect.

  • Life offices have £300m bonds that aren't covered

    30 October 2008

    Estimates suggest nearly £400m was invested in Kaupthing Singer & Friedlander Isle of Man through offshore bonds and will not be covered by the local depositor protection scheme.

  • Limitations of justice

    30 October 2008

    A recent Court of Appeal decision has brought comfort to professionals worried about facing stale claims based on alleged failures many years ago. It is ironic that those professionals more exposed than almost any other to this risk - financial advisers - are likely to be denied this benefit of English law.

  • Liquidation delayed due to cash seizure

    30 October 2008

    The Isle of Man treasury has delayed the liquidation of Kaupthing Singer & Friedlander Isle of Man as arguments continue over £550m of its assets seized by the UK Government using anti-terror legislation.

  • Lloyds boss highlights strength of Scot Wids brand - rejects Cleri Med sale rumours

    3 November 2008

    Lloyds TSB group chief executive Eric Daniels has highlighted the strength of the Scottish Widows brand and rejected rumours that Clerical Medical is up for sale.

  • Lloyds unveils superbank executive

    30 October 2008

    Lloyds TSB has revealed the group executive committee which will lead the combined Lloyds HBOS superbank next year.

  • Lock in lifestyling

    30 October 2008

    As defined-benefit pensions have more or less got their house in order, so defined contribution starts falling apart at the seams.

  • London Scottish Bank to be sold

    30 October 2008

    London Scottish Bank has revealed it has to be sold after failing to raise regulatory capital.

  • Lund is looking to build wrap margins for Portal

    30 October 2008

    Money Portal will soon decide whether to create a "platform of platforms" or use an existing wrap provider's solution as it aims to take manufacturer margins away from providers.

  • Market falls show value of unit-link pledges

    30 October 2008

    The dramatic fall in the FTSE 100 over the past year demonstrates the value of unit-linked guarantees, claims MetLife.

  • Martin becomes second deputy

    30 October 2008

    Aifa has appointed Sesame executive chairman Ivan Martin as its second deputy chairman. He will work alongside current deputy chairman Amanda Davidson.

  • Matrix adds features for online directory

    30 October 2008

    Matrix Data Solutions has relaunched its online directory mylocaladviser.co.uk.

  • Mega banks pose threat to IFAs' protection business

    30 October 2008

    IFAs could see business volumes contract if more high-street banks merge, warns Munich Re head of marketing Andy Milburn.

  • Mortality rates are skewed, says Watson Wyatt

    31 October 2008

    New data on life expectancy from the Office of National Statistics should be interpreted with care, according to Watson Wyatt.

  • MP pushes for FSA investigation of Peston leaks

    3 November 2008

    Labour MP Jim Cousins has challenged FSA chairman Lord Adair Turner on whether the regulator should investigate leaks to BBC business editor Robert Peston.

  • MVRs and shakers

    30 October 2008

    The economic turmoil has hit life offices hard, with some insurers reintroducing market value reductions on with-profits policies.

  • Nero fiddling, Rome burning?

    3 November 2008

    The last few months have seen financial giants crumble around the world, global markets fall into chaos and credit availability turn into gold dust, yet it seems the RDR must go on.

  • Network Data selling £5m HQ to build cash

    30 October 2008

    Network Data is to sell its headquarters for £5m and has admitted it has a backlog of commission ahead of an emergency general meeting called to address its capital position.

  • New annuity offering launches from JLT Benefit Solutions

    4 November 2008

    JLT Benefit Solutions has launched a new expanded annuity offering called Premier Retirement Services covering standard, enhanced and impaired annuities through advised services and assisted purchase services.

  • New frontiers

    30 October 2008

    In the last 20 years, emerging markets have grown dramatically in terms of the number of companies listed, as well as the rise in market capitalisation and daily turnover of those companies. Emerging markets continue to progress into a major asset class as evidenced by a plethora of major initial public offerings, high capital inflows and fund-raising activities, as well as the success of initiatives such as the Bric funds.

  • No such thing as a winter warmer

    30 October 2008

    As even the weather turns harsh to match the markets the life and pensions industry is coming to terms with the impact of the recent turbulence.

  • NU quits unemployment cover over recession risk

    30 October 2008

    Advisers have called on other product providers not to follow Norwich Union's lead in withdrawing unemployment protection products due to a looming recession.

  • Nucleus makes two appointments

    3 November 2008

    Nucleus has made two new appointments within its technical and business development teams.

  • On good behaviour

    30 October 2008

    A week is a long time in politics and we now know that 24 hours is an even longer period in the world of finance.

  • Origen launches in-house academy for IFAs

    3 November 2008

    IFA Origen has launched an in-house academy for staff who want to develop their careers in becoming a registered individual, corporate consultant or para-planner.

  • PFS sets out speakers for conference

    30 October 2008

    The Personal Finance Society has unveiled the line-up of speakers for its Value of Advice 2008 conference in Birmingham on November 10 and 11.

  • Poll position

    30 October 2008

    This week, I am going to conclude my look at the potential impact that an increase in the inheritance tax nil-rate band to £1m could have on planning strategies for those couples with estates above £2m. I will also look at the possible impact on existing trusts and the effect that the announcement of the Tory intentions to raise the nil-rate band may have on the appetite for planning strategies between now and the next general election.

  • Portal set to open e-academy

    30 October 2008

    Money Portal is starting an academy to help its advisers reach diploma level.

  • PPF reveals more than 3,600 people receiving compensation

    29 October 2008

    The Pension Protection Fund confirms that more than 3,600 people were receiving PPF compensation and it has paid out a total of more than £17m.

  • Prudential offers 24 hour turnaround on enhanced annuity

    3 November 2008

    Prudential has revamped its enhanced annuity service to offer full illustrations in 24 hours using automated underwriting.

  • Quest for quality

    30 October 2008

    Most experts now seem certain that we are already in a recession and that unemployment is marching upwards, with the jobless figures set to continue climbing throughout 2009. The next 12 months look likely to be a grim time economically as the country gets to grips with the crisis.

  • Ratings agencies face Euro-regulation by early next year - Alistair Darling

    3 November 2008

    Chancellor Alistair Darling says he believes that credit agencies will be regulated in Europe later this year or early next in response to a grilling from the Treasury select committee in Parliament today.

  • RBS to calls for Government-backed £20bn

    4 November 2008

    Royal Bank of Scotland today joined HBOS and Lloyds TSB in its call for more Government-backed capital.

  • Repos and arrears soaring

    30 October 2008

    Repossessions have rocketed by 71 per cent in a year.

  • Resilience in a crisis

    30 October 2008

    These are tough times to be an adviser. Money Marketing can imagine that a lot of IFA business are feeling the strain, whatever model they may be using.

  • Return of MVRs show the pretence of smoothing

    30 October 2008

    Norwich Union's recent announcement that market value reductions of up to 20 per cent are to be reintroduced on with-profits bonds due to stockmarket falls - and over almost all time periods - shows the total pretence that these types of funds can "smooth" returns.

  • RGA wants watchdog to define non-disclosure

    30 October 2008

    RGA is calling on the Financial Ombudsman Service to issue a guidance paper defining its interpretation of non-disclosure when dealing with declined claims.

  • Risk and reality

    30 October 2008

    My annual trip to the US this year could not have been at a more eventful time - stockmarket mayhem and a presidential election - and anyone I met would have loved the oppor-tunity to drop the two candidates for any others capable and willing to stand.

  • Rumble in the financial jungle

    31 October 2008

    There is a storm brewing. A rumble in the financial jungle.

  • Scarborough merges with Skipton

    3 November 2008

    Scarborough has become the latest building society to seek help as it merges with Skipton building society.

  • Secondhand bargains

    30 October 2008

    The start of the new venture capital trust season has always brought the same questions - how much is going to be raised and who will be the big winners and losers. For what it is worth, I would err on the side of caution and say anything north of £100m raised in these market conditions is a good result. However, this week I am not going to talk about new VCTs, top-ups or new share issues but investing in VCTs on the secondhand market.

  • Sense of balance

    30 October 2008

    As reports on the health of the global economy become ever more gloomy, so concerns are building over the consequences for individual countries. With the focus shifting from banks to companies to countries, little wonder that investors' nerves are fragile.

  • Service shake-up

    30 October 2008

    When Gordon Brown told the Labour conference in September that the extraordinary events of late would be "studied by our children", I took this as a hint that the turmoil had reached its lowest point. Little did I realise there were further depths to plummet, yet these trading conditions provide a rare opportunity for us to take a look at what we do and how we deliver our service.

  • Shadow finance minister attacks Government repo promises

    31 October 2008

    Tory Shadow Financial Secretary to the Treasury Mark Hoban has branded the Government's promises of repossession avoidance as "just hot air".

  • Sharp increase in numbers of enquiries of retirement and transfer value quotes, says Aon

    4 November 2008

    Aon has seen a 63 per cent increase from this time last year in the number of enquiries from pension scheme members requesting retirement and transfer value quotes in September.

  • Shaun Sandiford leaves James Hay

    30 October 2008

    James Hay director of key accounts Shaun Sandiford has left the firm.

  • Shaun Sandiford to join Ascentric

    31 October 2008

    Former James Hay director of key accounts Shaun Sandiford is joining rival wrap Ascentric as head of sales, Money Marketing understands.

  • Sinking funds see sales

    30 October 2008

    Fund business plunged by over £900m in September from the previous yearFigures from the Investment Association reveal there was an outflow of -£20.7m for net retail sales in September compared with an inflow of £886.6m in September last year and £51.4m in August this year.

  • SJP pleased with resilient results

    4 November 2008

    St. James’s Place chairman Mike Wilson has reiterated the firms’ long term growth targets for new business after the firm reported a 2 per cent rise for the first nine months of 2008.

  • Skandia leaves ABI for Aifa

    3 November 2008

    Skandia UK has announced it will cancel its membership to the Association of British Insurers, instead choosing to join the Association of Independent Financial Advisers.

  • Skandia skims US cream for single-strategy range

    30 October 2008

    Skandia Investment Group has completed its new single-strategy range with funds investing in the healthcare and technology sectors.

  • Societies feeling funding freeze from Icelandic failures

    30 October 2008

    Building societies say their funding has been hit by local authorities' investment in failed Icelandic banks.

  • Software firms and hedge fund vie with Bolton for Edeus

    30 October 2008

    An American hedge fund, two rival software companies and former chief executive Michael Bolton are all planning to bid for bankrupt mortgage firm Edeus, Money Marketing understands.

  • Software firms and US hedge fund to bid against Bolton for Edeus

    29 October 2008

    An American hedge fund, two rival software companies and former chief executive Michael Bolton are all planning to bid for bankrupt mortgage lender Edeus, Money Marketing understands.

  • Standard Life cuts final bonuses and extends MVRs due to market turmoil

    29 October 2008

    Standard Life is to cut final bonuses and increase and extend market value reductions on its with-profit plans.

  • Standard Life Investments strengthens board

    3 November 2008

    Standard Life Investments is appointing Virginia Holmes as non-executive director to its board, subject to FSA approval.

  • Standard Life UK life and pension sales fall 14 per cent

    30 October 2008

    Standard Life has reported UK life and pension sales have plummeted 14 per cent to £2.6bn for the third quarter of this year, down from £3.1bn last year.

  • Storm strategies

    30 October 2008

    Investors are asking where, other than under their mattresses, offers a safe investment haven.

  • Superbank to be branded Lloyds Banking

    3 November 2008

    Lloyds TSB and HBOS group will be called Lloyds Banking if the merger goes ahead.

  • Symponia rebrands membership scheme

    31 October 2008

    Long-term care specialist Symponia is rebranding its membership platform in a bid to attract more qualified care fees planners.

  • Tailored policies could boost CI

    30 October 2008

    Tailoring critical-illness insurance plans to the consumer rather than adding more conditions could boost CI sales.

  • The adviser's dilemma

    30 October 2008

    I went for a long drink with a financial adviser and asked him how business was going.

  • The grim repo

    30 October 2008

    The Government has set out new rules to help protect homeowners threatened with repossession as lenders face a barrage of criticism over their handling of repossession cases.

  • The long deleverage

    30 October 2008

    This economic downturn is dissimilar to others in recent history - it is to do with deleveraging (a word unheard of in normal conversation until now) and asset price deflation. Its timeframe is likely to be measured in years rather than months but hopefully not in decades, as in Japan's experience.

  • The search for dividends

    30 October 2008

    The Government's banking recapitalisation scheme could change the landscape of UK equity income investing as fund managers lose some of the dividends they have traditionally received from banks.

  • Tories blast Brown's bid to spend his way out of recession

    31 October 2008

    The Conservatives have warned that the Government’s attempts to spend its way out of a recession will result in higher taxes in the future.

  • Transact transformed system - missing text

    30 October 2008

    When my old friend Malcolm Murray of Transact called round to see me six or seven years ago to explain the concept of wraps, it seemed like a pretty good idea, fit for the new century. "Well," I thought, "we'll give it a go." We were early adopters of wrap, therefore, but cautious nonetheless. For two years, we tested the system with selected clients.

  • UBS shuts down non-advisory admin and custody service

    30 October 2008

    UBS is to shut down its UK non-advisory specialist administration and custody service.

  • US lessons for IP firms

    30 October 2008

    The Income Protection Task Force is calling for US-style awareness groups in the UK to help increase the take-up of IP.

  • Value judgement

    30 October 2008

    The return of market value reductions on with-profits seemed pretty inevitable considering what has been happening in the markets.

  • Watson Wyatt warns on IP data

    30 October 2008

    Watson Wyatt principal consultant Sue Elliott says the industry is wrong to try to force the publication of income protection claim statistics as she believes the data could be misrepresented and confuse consumers.

  • What happened to the banks' billions in profits?

    30 October 2008

    I find it difficult to get my head round some points over the financial crisis and I am sure the public feel likewise. I would appreciate simple answers on the following: 1: In the recent reporting season, banks told us how much money they made - in the billions of pounds. Where has this money gone? How could it have disappeared so quickly from March/April until now? Presumably, they were valuing their worthless bits of paper which have now come and bitten them.

  • Where is the openness and integrity?

    30 October 2008

    Are we all living in a dream world or perhaps it's just me? The Government have brought back Peter Mandelson as Business Secretary. This is the person who is going to advise businesses on how to conduct themselves. A few years ago, he was found to have obtained a loan while not declaring a very significant loan he already had. Is he really a suitable person to advise businesses?

  • Which? launches campaign for banking reform

    4 November 2008

    Which? is campaigning for a major banking reform after research found four in five people think an overhaul is necessary to avoid another economic breakdown.

  • Wide variations in IOM offshore bond compensation regime disclosure

    31 October 2008

    Money Marketing research of Isle of Man offshore bond provider marketing material has revealed wide variations in the information provided to investors about the lack of protection for the underlying assets invested in the bond.

  • World can draw line under bank crisis, says Burdett

    30 October 2008

    US equities are showing significant long-term growth opportunities, says Thames River Capital fund of funds manager Robert Burdett.

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