Money Marketing
29 October 2009

  • 2,300 Have no confidence in FSA

    29 October 2009

    The Independent Financial Advisors Political Action Committee’s petition to Gordon Brown to change the senior management of the FSA has received 2,300 signatures since the end of September.

  • 8 Years jail for £800k will swindler

    29 October 2009

    A West Country financial adviser has been jailed for eight years after swindling £800,000 from the wills of elderly clients.

  • Abbey offers two-year 3.65% fix for advisers only

    29 October 2009

    Abbey is introducing a two-year fixed-rate mortgage of 3.65 per cent available only through intermediaries in a move that advisers are hailing as a return to decent broker products.

  • Aberdeen adds Henderson special sits to constellation fund

    29 October 2009

    Aberdeen’s multi-manager team is to add the new Henderson New Star European special situations fund to its £116m constellation fund.

  • Advisers are jailed for £2m VAT fraud

    29 October 2009

    Three financial advisers have been jailed for their part in a VAT fraud amounting to almost £2m.

  • Aifa manifesto says regulator has lost sight of its aims

    29 October 2009

    Aifa has published a retail distribution review manifesto accusing the regulator of los- ing sight of its aim of building consumer trust and widening access to advice.

  • Apollo keeps faith with lagging Japan

    29 October 2009

    Apollo Multi Asset Management is maintaining its exposure to Japan despite the region lagging during the recent rally in equity markets.

  • Argonaut says cyclicals in a sweet spot

    29 October 2009

    Argonaut Capital partner Barry Norris says he expects the market to rally by another 15 per cent in the next few months.

  • Artemis rethinks VCT fees

    29 October 2009

    Artemis has bowed to pressure to revise the fee arrangements implemented in March after the merger of its VCT and Aim VCT 2.

  • Ascentric and Cofunds in dual platform deal with Towergate

    29 October 2009

    Ascentric and Cofunds are to white-label platforms for Towergate Financial as part of a dual platform strategy catering for different elements of its client base.

  • Bank manager diverted loan cash

    29 October 2009

    A bank manager in Scotland has been jailed for 13 months for defrauding customers out of more than £22,000.

  • Banks get battering as FSA orders structured review

    29 October 2009

    Industry experts slam banks over structured product sales.

  • Bolton backs the bull to keep on running

    29 October 2009

  • Boom/bust could bolster the bull

    30 Oct 2009

    “So Anthony Bolton thinks this bull market could run and run? I hope he is right. He could be.”

  • Borrowers will be hit by cap on equity withdrawal

    29 October 2009

    John Charcol senior technical manager Ray Boulger says the FSA’s proposals for a cap on equity withdrawal will lead to severe consumer detriment.

  • Brokers could vouch for the self-employed

    29 October 2009

    PMS has suggested that brokers could vouch for self-employed clients they have known for three years or more as an alternative to the FSA banning self-cert.

  • Burden of proof may weigh down emerging markets

    29 October 2009

    Chris Salih says a European directive on depository liability poses a threat to investment funds

  • Cash clash after King's call to break up banks

    29 October 2009

    Governer and PM in rift over splitting banking activities

  • Cautious funds tipped for top

    29 October 2009

    The cautious managed sector came closer to challenging corporate bonds for the top spot in third-quarter fund sales, according to figures from Cofunds.

  • Charter for connections

    29 October 2009

    “It is important that the benefits and training provided by the PFS meets the needs of the different types of businesses and varying levels of ability of our members.”

  • China serves up Goldilocks' growth

    29 October 2009

    JP Morgan Asset Management believes the Chinese economy has entered a Goldilocks’ growth phase after gross domestic product grew by 8.9 per cent in the third quarter of this year.

  • Cloud formation

    29 October 2009

    Hargreaves Lansdown’s Ben Yearsley says it is time to put money back into technology

  • Club together

    29 October 2009

    Phil Whitehouse, head of The Mortgage Alliance, on how mortgage clubs have evolved in line with market consolidation

  • Committee drops human rights case for advisers

    29 October 2009

    The joint committee on human rights has dropped its investigation into the lack of a 15-year long stop for advisers, concluding it does not constitute a significant human rights issue.

  • Craig takes director general interim role at ABI

    29 October 2009

    Association of British Insurers director of life and savings Maggie Craig will take over as director general until the trade body finds a replacement for Stephen Haddrill.

  • Davy slams Axa for approaching IFA client

    29 October 2009

    Davy hits out after Axa approaches his client without his knowledge.

  • Dead cert dismays brokers

    29 October 2009

    A ban on self-cert mortgages is the stand-out issue in the FSA’s market review, reports Nicola York

  • Deal breaker

    29 October 2009

    Tory U-turn threatens a hard-won consensus on personal accounts

  • Efficiency and risk

    29 October 2009

    The theory of efficient and rational markets seems to have been borne out by volatility during the crunch

  • Evolution guides you through RDR

    29 October 2009

    This week, Money Marketing launches a new publication, Adviser Evolution, aimed at helping our readers face the many challenges set before them by the retail distribution review.

  • Eyes front

    29 October 2009

    “Motley Fool is an institution I would normally no more choose to poke with a stick than I would kick a puppy - and an admirably educational, informative and thought-provoking puppy at that.”

  • Fine the bank chiefs for PPI misselling, says panel

    29 October 2009

    Bank chiefs should be hit with personal fines if their firms are found to have missold Payment Protection Insurance, according to the Financial Services Consumer Panel.

  • Firms face huge cost of structured review

    29 October 2009

    The FSA has announced a far-reaching review of the structured product market and is enforcing retrospective business reviews on some of the biggest sellers which could cost millions of pounds.

  • FSA could be our ally

    30 Oct 2009

    Alan Lakey says he feels sorry for the FSA.

  • FSA raises price of being too big to fail

    29 October 2009

    The regulator last week issued a discussion paper on policy measures to address systemically important “too big to fail” banks, ahead of the Turner review conference on November 2.

  • FSA warns again on cash projections

    29 October 2009

    Regulator threatens action against pension providers if they do not stop using standard projection rates.

  • Funds Direct is consolidator's choice

    29 October 2009

    Simon Chamberlain’s IFA consolidator Succession Advisory Services has picked Ascen- tric’s white-label service Investment Funds Direct Limited as its platform.

  • Gartmore reckoned to be set for flotation

    29 October 2009

    Gartmore is reportedly being prepared for a stockmarket flotation that could take place before Christmas.

  • Gerry O'Brien: Quest for quality

    29 October 2009

    Home of Choice chief exec says the real exodus from the mortgage market will now begin.

  • How to make the facts clear

    29 October 2009

    Danny Lovey, principal of mortgage broker The Mortgage Practitioner, sets out an example of how he believes the FSA should change the mortgage key facts document to ensure borrowers can easily understand the information

  • IP taskforce roadshows to boost IFA confidence

    29 October 2009

  • Joanna Munro: Diverse ways

    29 October 2009

    “How do we find investments that are genuinely different from one another? Or does diversification always desert you just when you most need it to work?”

  • Jupiter move for De Blonay

    29 October 2009

    Henderson New Star global financials fund manager Guy de Blonay has quit to join Jupiter.

  • Lehman investors could lose out under FSCS compensation

    29 October 2009

    Investors in Lehman-backed structured products may receive less compensation through the FSCS than they would have done through the FOS, says compliance consultant Adam Samuel.

  • Lodes of money

    29 October 2009

    Is the current precious metal rush sustainable, or are people being deceived by fool’s gold?

  • Look ahead in anger

    29 October 2009

    “Tax planning has probably just moved up the list of financial priorities for a wide range of people.”

  • McFall wants FSA and BoE managerial fusion

    29 October 2009

    TSC chair says a management team should sit across both institutions.

  • MM Leader: Bank splits could cut risk

    30 Oct 2009

    Bank of England governor Mervyn King’s speech last week to Scottish business leaders certainly hit the right chord with many.

  • Mortgage broker banned over false applications

    29 October 2009

    The FSA has banned East London mortgage broker, Tomilola Omolola Ogunmoye, for submitting false and misleading information about her income to four lenders to obtain mortgages for herself.

  • MPC is set to boost easing programme

    29 October 2009

    The Bank of England monetary policy committee is likely to boost its quantitative easing programme at its next meeting.

  • New name and aims for New Star Pacific fund

    29 October 2009

    Henderson New Star is to change the name and investment objectives of its New Star Pacific growth fund.

  • No go for the long stop

    29 October 2009

    “Is there a connection between the Adviser Alliance launch and Aifa’s new-found discovery of the need for a root-and-branch review of the FOS?”

  • OPM returns to bricks and mortar funds

    29 October 2009

    OPM Fund Management has reintroduced bricks and mortar commercial property funds into the OPM property fund for the first time since launch in 2007.

  • Osborne advice team to shake up regulation

    29 October 2009

  • Osborne call to stop bank cash bonuses over £2k

    29 October 2009

    Conservative Shadow Chancellor George Osborne has called on the Treasury and the FSA to stop high-street banks paying out cash bonuses of more than £2,000.

  • Out of Context

    29 Oct 2009

    Lots of knickers were being thrown on stage…not mine, I hasten to add.

  • Pensioners hit by £350m tax blunders

    29 October 2009

  • Personal accounts trustee can recover admin costs

    29 October 2009

  • Personal points

    29 October 2009

    Personal pensions are unfairly disadvantaged by comparison with occupational schemes

  • Polar Cap tech added to Jupiter multi worldwide

    29 October 2009

    Jupiter’s multi-manager team is aiming to boost its exposure in the technology sector by introducing the Polar Capital global technology fund to its worldwide portfolio.

  • Population to leap by four million by 2018

    29 October 2009

    The population of the UK is forecast to soar by over four million by 2018 and by 10 million to 71.6 million by 2033, according to the latest figures from the Office for National Statistics.

  • Purchase loans up by 77% but remortgages plunge

    29 October 2009

    The number of remortgage approvals plummeted by 60 per cent to 21,282 last month from 52,717 in September 2008, according to figures from the British Bankers’ Association.

  • Regulator visits firms in switch probe

    29 October 2009

    FSA to visit sample of IFAs to see if pension switching has improved.

  • Reid and Rennison set up firm to help in RDR move

    29 October 2009

    Financial services stalwarts Robert Reid and Roderic Rennison have launched a consultancy business, The Ideas Lab, aimed at the adviser and provider market.

  • Research looks to find new channels for life companies

    29 October 2009

    The Life Insurance Market Research Association is conducting research into consumer buying habits to help life offices find new distribution channels.

  • Revenue rules no bill for Freedom Sipp client

    29 October 2009

    HM Revenue & Customs has confirmed to a Freedom Sipp client that he will not be hit with a 40 per cent tax charge if he transfers his pension to another provider.

  • Sally Laker: Recovery position

    29 October 2009

    Laker believes a newly regulated buy-to-let sector could lead the mortgage recovery.

  • Select view for so many

    29 October 2009

    TSC chairman and Labour MP John McFall says the committee will focus on the RDR in coming months.

  • Size of the matter

    29 October 2009

    FSA reminds those looking to consolidate that one size never fits all

  • Skandia axes Chessell in review

    29 October 2009

    Skandia sales director Dave Chessell has been made redundant as part of a review of the service that the firm gives to advisers.

  • Small Sipp providers may face tech problems

    29 October 2009

    Small Sipp providers will struggle to cope with business volumes unless they invest in technology, Finance and Technology Research Centre director Ian McKenna has warned.

  • Standard Life in pension link-up with Barclays after selling bank for £226m

    29 October 2009

    Barclays is buying Standard Life Bank in a £226m deal and the firms are looking to jointly develop a simplified pension product.

  • Structured analysis

    29 October 2009

    Ian Lowes, managing director of Lowes Financial Management and Structured ProductReview.com, looks at the problems that some structured products have hit over recent times but says the sector is basically sound if advisers put in the research necessary to pick out suitable plans

  • The earning curve

    29 October 2009

    The outlook for European equity markets remains positive against a backdrop of recovering earnings’ momentum, cheap valuations and continued government stimulus tailwinds.

  • The Freedom trail

    29 October 2009

    Lee Jones reports on admin delays in transferring Freedom Sipp members and finds that some members are finding it difficult to switch

  • The longest recession is 18 months old

    29 October 2009

    GDP figures fell by 0.4 per cent in the third quarter, meaning the UK is in the longest recession on record.

  • The review from here

    29 October 2009

    Our panel consider the prospect of low interest rates for the next five years and discuss the FSA’s wide-ranging mortgage market review paper

  • The time is right

    29 October 2009

    “In the past fund of funds managers were restricted in the kind of investments they could make, today there is a wide and colourful palette helping to smooth and enhance performance.”

  • Thinktank makes call for compulsory protection

    29 October 2009

    Thinktank Reform is calling on the Conservatives to ditch welfare benefits for the middle classes and instead enrol people of working age into flexible personal protection accounts alongside personal accounts.

  • Tom McPhail

    29 Oct 2009

    Hargreaves Lansdown’s head of pensions research is chairman of the Pensions Income Choice Association, due to launch this week, which aims to shake up a retirement industry dogged by inertia and educate people to get the best deals on the market Interview by Helen Pow

  • Tough conditions

    29 October 2009

    Lifesearch’s Emma Thomson says transparent quality will help advisers pick the right CI cover

  • Towry calms Ed Jones' clash fears

    29 October 2009

    Towry Law has sought to reassure advisers of newly acquired Edward Jones that there is no culture clash between the firms after advisers raised concerns over the move to a fee-based model.

  • 'Ucits III will complement hedge funds'

    29 October 2009

    Fund of hedge funds manager 3A believes Ucits III will complement traditional hedge funds, not replace them.

  • UK economy languishing: what needs to be done?

    30 Oct 2009

    The MPC faces tough decisions in light of the surprise UK GDP figures.

  • Underwriting warning over affordability and self-cert

    29 October 2009

    Brokers warn self-cert ban will result in higher costs for borrowers.

  • US moves out of recession

    29 Oct 2009

    The US sees third quarter growth of 3.5 per cent.

  • Virgin set to bring in ex-Rock boss after bank licence move

    29 October 2009

    Virgin Money has submitted an application for a banking licence to the FSA.

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