Money Marketing
3 October 2007

  • ‘Banks warned against rushing cash protection reforms’

    4 Oct 2007

    The Government came under heavy fire last week, with the heads of both the British Bankers’ Association and the Confederation of British Industry slamming it over its role in the Northern Rock fiasco.

  • £100M society travels on to become British Friendly

    4 Oct 2007

    The British Benefits Friendly Society has rebranded and is now The British Friendly Society Limited.

  • £30M a year lifeboat fund to bail out pensions

    4 Oct 2007

    Victims of collapsed pension schemes would get compensation within three months of the Tories returning to power.

  • 7IM to share client data with Cofunds and FundsNetwork

    5 Oct 2007

    Cofunds, FundsNetwork and 7IM have agreed to introduce sharing of client portfolios in what has been called an unprecedented move for the industry.

  • A gender for change

    4 Oct 2007

    What financial planning issues need to be considered by any individual acquiring a new gender?

  • ABI changes life and pension funds classification system

    3 Oct 2007

    The Association of British Insurers has made changes to its classification system for life and pension funds effective from January 25 2008.

  • ABI publishes new PMI guidelines

    4 Oct 2007

    The Association of British Insurers has published new PMI guidance updating definitions of medical terms used in all PMI policy documents and information and has added new guidelines on explaining cancer cover.

  • ABI warning on FSCS reforms

    4 Oct 2007

    ABI director general Stephen Haddrill has written to Chancellor Alistair Darling, warning that reforms to the Financial Services Compensation Scheme "must not distort the market for savings or remove all risk".

  • ABI warns state should not subsidise personal accounts

    4 Oct 2007

    The Association of British Insurers says personal accounts could damage existing provision and has warned the Government against any form of state subsidy.

  • Advantage to cull 90 jobs as Morgan Stanley makes 600 redundancies worldwide

    3 Oct 2007

    US banking firm Morgan Stanley has felt the effects of the credit crunch as it confirmed it would be making 600 staff redundant, with 90 job losses in the UK.

  • 'Advisers in Catch-22 position'

    4 Oct 2007

    Aifa is warning that personal accounts may end up as a repeat of stakeholder and advisers could be left in a Catch-22 position where they cannot offer advice about schemes.

  • Advisers rate Falcon and M&E top of networks

    4 Oct 2007

    Falcon and M&E are neck and neck for top spot in this year's Henry Samuels Marketing Services ratings of IFA networks.

  • Aifa appoints new public relations and marketing director

    8 Oct 2007

    Aifa has appointed Tracy Elwick as its new director of public relations and marketing.

  • Aifa wins backing as membership leaps

    4 Oct 2007

    Bankhall chief blasts Towry Law's attack on Aifa as members rally in support of trade body

  • All shook up

    5 Oct 2007

    Change really is afoot at the moment. With the undertones (not the band, sadly) of the RDR dictating advisers every move at the moment, maybe it has prompted changes across the board. Or maybe it’s just that time of year when people look for new opportunities.

  • Alliance & Leicester - Two-Year Base Rate Tracker 5.79%

    4 Oct 2007

    Alliance & LeicesterTwo-Year Base Rate Tracker 5.79%

  • Andy Peters

    4 Oct 2007

    Bright Grey's director of distribution helped to set up the firm from scratch and has succeeded in taking business from other protection product providers but is now looking to build up sales in the mortgage sector with a training programme for brokers and is also planning a foray into the business protection market. Interview by Gregor Watt

  • Annuities on the radar

    4 Oct 2007

    Claim handlers may be turning their attention to trust-based pensions

  • Arc Capital & Income - Bull & Bear Tracker Plan 3

    3 Oct 2007

    Arc Capital & IncomeBull & Bear Tracker Plan 3

  • Ashby moves to Credit Suisse

    3 Oct 2007

    Equity income manager Graham Ashby joined Credit Suisse this week as managing director and head of UK retail equities from Sarasin Chiswell.

  • Axa poised for platform

    4 Oct 2007

    Axa is launching a wrap platform in the first quarter of 2008.

  • B&B underlines credit quality with covered bond issue

    4 Oct 2007

    Bradford & Bingley's issuance of a £500m two-year covered bond through ABN Amro last week is a positive sign of its credit quality, say brokers.

  • Bank of England maintains bank rate at 5.75%

    4 Oct 2007

    The Bank of England’s Monetary Policy Committee voted today to maintain the official bank rate at 5.75 per cent.

  • Bank reject BoE money auction

    4 Oct 2007

    Banks have shunned the Bank of England's second £10bn money auction. This is the second time that the Bank of England has run an auction in an attempt to ensure that lenders do not follow in the footsteps of Northern Rock's funding crisis.

  • Banks are being under-regulated

    4 Oct 2007

    I have asked the FSA to demonstrate that there is a foundation for its view that commission distorts sales and that banks offer a worthy solution to the savings shortfalls of middle to low-income groups.

  • Beagles takes break for six months from Hambro

    4 Oct 2007

    JO Hambro UK equity income manager Clive Beagles is taking a six-month sabbatical.

  • Blue chips set to take lead in US

    4 Oct 2007

    PSigma US equity fund manager James Abate believes the US market is at an inflection point that will see blue chips take the lead after seven consecutive years of relative underperformance.

  • Boulger sees problem defining who is an FTB

    4 Oct 2007

    Mortgage experts are warning that the Tory plan to abolish stamp duty for first-time buyers on homes costing up to 250,000 faces a fundamental problem of defining who is a first-time buyer.

  • Bright on Rock

    4 Oct 2007

    The silver lining in the bank funding crisis is the lessons it has taught us about risk

  • Broker Talkback

    4 Oct 2007

    Do you agree with the Government that generic advice should be partfunded by the industry?

  • Broker Blackandwhite.co.uk looking to make 50 staff redundancies

    9 Oct 2007

    Mortgage broker Blackandwhite.co.uk has announced it has today asked 50 staff to consider taking voluntary redundancies.

  • Brokers search for cash boost

    4 Oct 2007

    Eight out of 10 brokers say that the market situation has prompted them to look for ways to increase or maintain their income.

  • C&G to withdraw current 100 per cent mortgage range today

    8 Oct 2007

    Cheltenham & Gloucester has alerted brokers that it will be making changes to its 100 per cent mortgages from tomorrow.

  • Cameron brands pensions Brown’s “worst” legacy

    3 Oct 2007

    David Cameron has branded Gordon Brown’s record on pensions his “worst legacy” and pledged not to let him forget it.

  • Certificate aims at PPI standards

    4 Oct 2007

    Specialist training firm ontraining has launched what it believes is the first nationally accredited qualification for payment protection insurance sales.

  • Chartwell Group Ltd acquires Bristol IFA

    3 Oct 2007

    Chartwell has acquired Bristol-based firm Broadoak for an undisclosed sum.

  • CII calls for a common approach to qualifications

    8 Oct 2007

    The CII has called on the industry to streamline the structure of financial services qualifications.

  • Claim is the spur

    4 Oct 2007

    Lord Lipsey's comments on compensation should sound a warning to IFAs

  • 'Clumsy and ineffective' home packs would be axed

    4 Oct 2007

    Home information packs would be scrapped by a Tory Government.

  • CML's role is criticised

    4 Oct 2007

    Mortgage brokers have questioned the role of the Council of Mortgage Lenders in the Northern Rock debacle.

  • Confidence rocked

    4 Oct 2007

    It is all too easy to lay the blame for the problems experienced by Northern Rock on a wide range of factors but we do need to analyse the situation carefully and reach conclusions to help prevent the same circumstances occurring in future, especially the scenes of thousands of frightened investors queuing outside bank branches.

  • Consumers regard annuities as "legalised robbery"

    9 Oct 2007

    Consumers regard annuities as "legalised robbery" and have completely disengaged from pensions as a retirement vehicle according to The Pensions Report 2007.

  • Counting the cars

    4 Oct 2007

    First State is a name known to many investors as a leader in Asian and emerging markets but what is less known about this Australian fund management company is that they have expertise in many diverse areas including resources, property and infrastructure.

  • Crunch time

    4 Oct 2007

    The more observant among you might have guessed I was away last week.

  • Darling warns credit squeeze will hit the UK economy

    5 Oct 2007

    The Chancellor has warned the current credit crunch is likely to have an effect on the UK economy and is set to down-grade his growth forecasts for 2008.

  • DB raises the bar for loan credit scoring

    4 Oct 2007

    DB Mortgages has introduced a higher credit score threshold for all new business and has capped maximum sub-prime loan to values at 75 per cent.

  • Death on denial

    4 Oct 2007

    The recent announcement from Legal & General that it was looking to enlist the help of The Samaritans in training its tele staff certainly caught my eye . It struck me that perhaps once they are through with L&G they could lend a hand in the mortgage industry too, where shortly we will see a suicide watch list emerge.

  • Defaqto report shows Britons are sleep-walking into retirement

    4 Oct 2007

    More people are saving for their next holiday than for retirement and over a third are not saving for retirement at all according to a new report from Defaqto.

  • Delegate places for Fof forum filling up fast

    4 Oct 2007

    The Money Marketing Fund of Funds Forum take place at the Merchants Taylors' Hall in London on Thursday 18 October.

  • Don't drop your Hs

    4 Oct 2007

    The first of two articles spells out the recent changes to the IHT reporting regime for lifetime transfers

  • Edinburgh Portfolio transferred to Jessop FM

    4 Oct 2007

    Vertex subsidiary Jessop Fund Managers has transferred the Edinburgh Portfolio - subsidiary of Aberdeen Asset Management - across to its book.

  • Equitable update on Pru transfer

    4 Oct 2007

    Equitable Life is writing to all policyholders to update them on the transfer of its £1.8bn book of with-profits annuity policies to Prudential.

  • ex-Paymentshield directors launch MPPI through new venture 3xd

    8 Oct 2007

    3xd, the new venture from former Paymentshield directors David Fulluck and Mike Riding, has launched a multi-option mortgage payment protection insurance policy underwritten by British Insurance.

  • Ex-Sesame chief to build PosSol loans

    4 Oct 2007

    Positive Solutions has appointed former Sesame manager Paul Rignall to oversee the development and expansion of its mortgage intermediary business. Rignall joins in the new role of mortgage manager to develop an advice and product proposition to enable Positive Solutions to build on its mortgage business.

  • F&C says market anxiety is easing

    5 Oct 2007

    This week's billion dollar losses announced by Deutsche Bank and profit warnings from UBS and Citigroup have shed more light on the extent of the crisis emanating from the US sub-prime market, according to F&C.

  • Fidelity targets DC market with lifestyle funds

    4 Oct 2007

    Fidelity is looking to strengthen its foothold in the defined-contribution pension market and develop a range of actively managed lifestyle funds.

  • Filling the void

    3 Oct 2007

    As autumn descends on the UK once more it appears that any possible lull in the office is well and truly over, as silence from what has been a MoneyMarketing skeleton crew in the past couple of weeks has been replaced by the hustle and bustle as all of our reporters catch up on their respective patches.

  • Friends Provident and Resolution set to close the deal

    8 Oct 2007

    Friends Provident and Resolution look set to close the deal to create Friends Financial Group with the date of the merger set for November 29, 2007.

  • FSA admits it needs to learn Northern Rock lessons

    9 Oct 2007

    The FSA says it has serious lessons to learn in the aftermath of the Northern rock fiasco particularly around stress testing of extreme situations and probability analysis.

  • FSA appoints former minister and anti poverty campaigner as director of financial capability

    3 Oct 2007

    The FSA has appointed Chris Pond, currently Chief Executive of the National Council of One Parent Families as director of financial capability, a new position within the FSA.

  • FSA bans firms after PPI probe uncovers failings

    4 Oct 2007

    The FSA is to investigate four payment protection insurance firms and a further 20 may also be investigated as a result of its probe into payment protection insurance sales standards.

  • FSA is looking into Royal London OMO charges

    5 Oct 2007

    The FSA says it is looking into reports that Royal London charges customers thousands of pounds for exercising their open market option.

  • FSA with-profits warning to CEOs

    4 Oct 2007

    The FSA has sent a Dear CEO letter to insurers, warning that it has uncovered worrying practices in open and closed with-profits funds involving standards of governance and run-off plans.

  • FTBs hit hard by sub-prime crisis

    4 Oct 2007

    Some UK lenders are withdrawing their 100 per cent mortgages. Tanya Powley looks at what this means for the industry and consumer choice

  • GMAC-RFC to close High Street Home Loans, cutting over 200 jobs

    9 Oct 2007

    GMAC-RFC has announced - during today's pre-budget report - that it will be closing its sub-prime subsidiary High Street Home Loans and cutting around 266 jobs.

  • 'Government won't let firms strong-arm staff out of NPSS'

    4 Oct 2007

    The Government is promising to guard against mass levelling down following the introduction of pension personal accounts and says compliance processes will stop employers persuading staff to opt out.

  • Gross lending in August sees little change from July says CML

    9 Oct 2007

    Total gross lending in August reached £34 bn, little movement from July’s total of £34.1bn, says the Council of Mortgage Lenders.

  • Halifax writes to 200,000 customers after incorrect amount was collected from bank account

    5 Oct 2007

    Halifax says it will be writing to 200,000 customers to let them know that an incorrect amount was collected from their bank account to pay their monthly home insurance premium.

  • Hay wraps hits £12bn

    4 Oct 2007

    James Hay says its wrap has reached over £12bn, with 6, 000 clients using its proposition, which has just reached its fourth anniversary.

  • HSBC Fof will focus on global property

    4 Oct 2007

    HSBC Investments is to move into the global property market for the launch of its third portfolio in the OpenFunds range.

  • Hunt aims to boost Lehman mortgage packager profiles

    4 Oct 2007

    Paul Hunt has joined Lehman Brothers as director of marketing for its residential mortgage brands in the UK.

  • Hunt review wants to hear Lipsey evidence

    4 Oct 2007

    The head of the Financial Ombudsman Service review Lord Hunt is writing to former PIA director Lord David Lipsey, asking him to provide evidence that many people who received compensation from the pension review provided misleading information to the regulator.

  • IFAs are not the ones creating distrust

    4 Oct 2007

    I feel that you have been too kind on the regulator, the Bank of England and the Treasury over the Northern Rock affair.

  • IFAs call for independent fee only adviser category

    9 Oct 2007

    A 16-strong group of fee only IFAs are lobbying the FSA for the creation of an independent, fee only adviser category.

  • IFP conference - FSA reinforces message that RDR proposals are industry-led initiatives

    3 Oct 2007

    The FSA has reinforced its message that the proposals in the Retail Distribution Review are industry led initiatives, at the IFP conference in Manchester today.

  • IFP conference - New model advisers worth more says FP Advance

    3 Oct 2007

    New model adviser businesses are worth more money than companies that run on traditional models, according to consultant FP Advance.

  • IFP conference - UK individuals should not rely on Governent for financial support says Australian financial firm

    3 Oct 2007

    Individuals need to take responsibility for their retirement savings rather than relying on the government for financial support, according to Australian financial planning firm Ellwood Barry McPherson.

  • IFP conference diary

    5 Oct 2007

    This week I travelled to Manchester for the Institute of Financial Planning conference and spent two days hearing delegates and speakers tackling the big issues facing the industry.

  • IHT changes on the way?

    8 Oct 2007

    With election fever now yesterday’s lunch all eyes are on Alistair Darling’s first pre-Budget report and Comprehensive Spending Review with plenty expected for the industry to digest.

  • Ilott joins Fidelity multi-manager team

    4 Oct 2007

    Paul Ilott has joined Fidelity's multi-manager team as communications consultant. The newly created role will see Ilott work alongside the portfolio managers as well as relaying the team's views on underlying managers and market condition to IFAs. Ilott has over 20 years experience in the financial services industry, most recently as Bates Investment Services head of communications.

  • In step with investment

    4 Oct 2007

    The Money Marketing Live conference and exhibition at Manchester's G-Mex on October 30 will once again feature the Investment Arena, where industry experts will talk about the challenges facing advisers. You can also win a Mazda MX-5 roadster sponsored by Edeus

  • 'Industry must pay towards generic advice'

    4 Oct 2007

    The financial industry must contribute to the funding of generic advice and the Government is looking at moving towards matching industry contributions, says Treasury Economic Secretary Kitty Ussher.

  • Infinity is back after securing new funding

    4 Oct 2007

    Infinity Mortgages returned to the lending market last week after it temporarily withdrew from the sub-prime market at the beginning of August.

  • Is property set to subside?

    4 Oct 2007

    Brick and mortar have held up well but cracks have been appearing in funds invested in property shares, says James Phillips

  • Isle of Man ranked ahead of main offshore competitors

    9 Oct 2007

    The Isle of Man has been ranked ahead of offshore competitors Channel Islands, Cayman Islands and Bermuda in The City of London’s Global Financial Centres Index.

  • James Hay adds Thames River funds to its wrap

    9 Oct 2007

    James Hay has added five new Thames River multi-manager funds to its wrap platform.

  • Knight and Finegold - the mortgage market’s dream team

    5 Oct 2007

    What with the gloomy market conditions and several mortgage commentators solemnly forecasting the demise of a number of lenders in the coming months, it is nice to have some positive news.

  • Knight's first two ventures to be dedicated packager and broker lenders

    3 Oct 2007

    Former GMAC-RFC founder Stephen Knight has told Money Marketing that his first two lending ventures through Checkmate Mortgages will see one focused on just the intermediary channel with the other only focused solely on the packaging market.

  • L&G scraps duty to disclose rule on forms

    4 Oct 2007

    Clients no longer have to not-ify Legal & General of any changes to their health or circumstances between the time they submit their protection application and when their policy starts.

  • Left in the dark as day of Mifid approaches

    4 Oct 2007

    Legal uncertainties are arising over the readiness of some EU countries for the impending Mifid deadline - November 1 - which could lead to foreign investment firms having to suspend business within the UK.

  • LibDems call for 10 year limit on non-dom status

    3 Oct 2007

    The LibDems have written to the Prime Minister calling for the removal of non-domicile status for anyone who has been a resident in the UK for 10 years or more.

  • Lipsey words are gut-wrenching

    4 Oct 2007

    The article last week headlined, Misleading claims won big payouts, was not the big story since every IFA in my experience has been only too painfully aware of it for years.

  • Loss of confidence

    4 Oct 2007

    The FSA's handling of the Northern Rock affair has revealed its weaknesses

  • Lyxor Asset Management - Lyxor ETF South Africa - FTSE JSE TOP 40 Index

    5 Oct 2007

    Lyxor Asset ManagementLyxor ETF South Africa - FTSE JSE TOP 40 Index

  • LyxorAsset Management - Lyxor ETF India - S&P CNX NIFTY

    5 Oct 2007

    LyxorAsset ManagementLyxor ETF India - S&P CNX NIFTY

  • McAteer says public would suffer if Icob is changed

    4 Oct 2007

    Consumer advocate Mick McAteer says the FSA's proposed changes to the Icob regime are likely to be detrimental to consumers and the market.

  • MD Pain is leaving C&G

    4 Oct 2007

    Cheltenham & Gloucester has confirmed that managing director Jon Pain will be leaving the firm. Chief operating officer Joy Griffiths will be Pain's replacement. C&G says Pain will be taking the role of advisory chairman until the end of the year to help support the transition.

  • Merger to bring fund changes

    4 Oct 2007

    MitonOptimal says the combined Iimia MitonOptimal group must differentiate the funds in its range as it will have three funds in each of the IMA active, balanced and cautious managed sectors.

  • Meteor adds another Prima plan to range

    4 Oct 2007

    Meteor Asset Management has brought out a fourth issue of its prima growth plan, a capital-protected bond that has an early maturity feature.

  • Mortgage industry reacts angrily to IoD's call to scrap buy-to-let tax break

    5 Oct 2007

    The mortgage industry has reacted angrily to the Institute of Directors' call to scrap the buy-to-let tax break.

  • Mortgage Trust valuation rethink

    4 Oct 2007

    Mortgage Trust now requires that valuation instructions for all new-build flats and conversions are submitted to its surveyors' department. The department will either undertake an in-house valuation or allocate the instruction to a selected panel company.

  • Mother of all requirements

    4 Oct 2007

    As we hurtle towards November 1, which heralds the arrival of the mighty Mifid, I am becoming interested in what distributors and manufacturers are doing to meet the requirements of this huge European directive.

  • MPs demand answers from FSA over anti-BofE media briefing

    9 Oct 2007

    The FSA has come under heavy fire from the Treasury select committee for failing to answer questions about the Northern Rock debacle and accusations the regulator briefed the media against the Bank of England.

  • Musical Standard

    4 Oct 2007

    Standard Life has won the arts, business and sustainability category at the Arts and Business awards in recognition of the company's partnership with Children's Classic Concerts.

  • New model barmy army

    4 Oct 2007

    Thinc wealth management director Tim Parsons considers that many advisers are being taken in by the lure of a so-called shift in the way of doing business and he sets out the elements of structure that are needed to be successful in the future

  • New Star announces details of high risk Africa fund

    8 Oct 2007

    New Star has announced plans to soft-close its heart of Africa fund once the product reaches £100m.

  • Newman says networks still make sense as new venture launches

    4 Oct 2007

    Former director of Park Row Group, Tim Newman, has started a new adviser network, Sense, with members from the investment, mortgage and protection markets.

  • Northern Rock may have received more than £10bn now from Bank of England

    4 Oct 2007

    Northern Rock may have received more than £10 billion now from the Bank of England, according to New Star’s chief economist Simon Ward.

  • Northern Rock to cut the number of its mortgage products by over two thirds

    3 Oct 2007

    Northern Rock is set to have its number of products cut by over two thirds in its first product change since its funding crisis.

  • NU goes back to drawing board on protection range

    4 Oct 2007

    Norwich Union is undergoing a complete redesign of its protection range in a bid to meet consumer needs.

  • NU pays 86% of critical claims

    4 Oct 2007

    Norwich Union paid out 86 per cent of critical-illness insurance claims in the first half of this year compared to with per cent in 2005, according to its latest Critical Insurance Claims Report. NU says a series of initiatives to drive down non-disclosure, including a campaign to educate consumers about the importance of full disclosure on applications, was behind the increase.

  • NU shock move for £260m London sell-off

    4 Oct 2007

    The £4.2bn Norwich Union property trust's decision to put two flagship London office buildings on the market has surprised the City.

  • Nucleus adds P-Solve funds of hedge funds

    4 Oct 2007

    Nucleus Financial has made London investment boutique P-Solve Alternative Investments' funds of hedge funds available to IFAs using its platform.

  • Old Broad Street takes over Forsyth ratings

    4 Oct 2007

    Old Broad Street Research is taking over the Forsyth-OBSR Ratings Service that it previously operated as a joint venture with Forsyth Partners Limited.

  • Over half of IFAs do not understand personal accounts

    5 Oct 2007

    Only 9 per cent of IFAs believe that personal accounts are a positive move for the financial services market according to research from The Pensions Report 2007.

  • Panorama investigation shows 70 per cent of repossessions are from sub-prime market

    8 Oct 2007

    BBC programme Panorama will report on research which has found that seven out of ten homes repossessed in recent months were owned by sub-prime mortgage borrowers.

  • PBR: "CGT is a tax increase by another name"

    9 Oct 2007

    Chartered accountant MacIntyre Hudson says Chancellor Alistair Darling's announcement that capital gains tax will be set at a flat rate of 18 per cent is "a tax increase by another name".

  • PBR: 4bn to help people in poor-quality housing make renovations

    9 Oct 2007

    Chancellor Alistair Darling announced in the pre-budget report that it will spend more than 4bn over the next three years to help people in poor-quality housing make renovations.

  • PBR: Abolishing capital gains tax taper relief could damage advisers

    9 Oct 2007

    Alistair Darling's announcement that he will withdraw capital gains tax taper relief could cause serious damage to small companies like IFAs, warns tax consultant Chiltern.

  • PBR: Aifa urges Chancellor to ease SME tax burden

    9 Oct 2007

    Aifa has criticised the pre-Budget report for doing nothing to ease the increasing tax burden on small businesses.

  • PBR: Boulger criticises Darling on longer-term fixed rate mortgage re-announcement

    9 Oct 2007

    John Charcol senior technical manager Ray Boulger says that Alistair Darling’s announcement on providing longer-term fixed rate mortgages is just yet another re-announcement of previous proposals.

  • PBR: CGT decision could offer tax opportunity for investment firms

    9 Oct 2007

    The introduction of an 18 per cent flat rate for Capital Gains Tax could give investment firms the green light to launch new capital based investments to attract clients, according to Mazars Financial Planning CEO Paul Willans.

  • PBR: Darling calls for 7 and 10-year tax charges for non-doms

    9 Oct 2007

    Alistair Darling has announced that he will consult on levying tax charges on non-domiciled UK residents who have lived in the UK for seven years.

  • PBR: Darling to incentivise lenders to promote fixed-rate mortgages

    9 Oct 2007

    Chancellor Alistair Darling has announced the Government will incentivise mortgage lenders to increase the take up of fixed-rate loans and encourage them to increase terms from two years to 10 years or more.

  • PBR: Derivatives to be treated as investing

    9 Oct 2007

    HM Revenue and Customs has announced as part of the pre-Budget report that the use of derivatives can be treated as investing rather than trading.

  • PBR: Grant Thornton warns non-dom clock began ticking in 2001

    9 Oct 2007

    Grant Thornton has warned non-doms that have been resident in the UK before April 2001 will begin paying the Government’s new charges from April 2008.

  • PBR: Grants to local authorities to increase by 26bn to keep council tax rises below 5 per cent

    9 Oct 2007

    Chancellor Alistair Darling announced in the pre-budget report that grants to local authorities for local services in England will increase to 26bn by 2010 to ensure local authorities can keep council tax rises substantially below 5 per cent.

  • PBR: IHT threshold doubled to £600,000

    9 Oct 2007

    Chancellor Alistair Darling has announced that the inheritance tax threshold will double from £300,000 to £600,000 from today for all married couples including those in civil partnerships.

  • PBR: Mortgage industry disappointed with Govt failure to make changes to stamp duty

    9 Oct 2007

    The mortgage industry has reacted with disappointment at the Government’s failure to make any changes to stamp duty tax in order to help first time buyers in its pre-budget report today.

  • PBR: Offshore funds to invest unlimited amount in non-distributing funds

    9 Oct 2007

    The Treasury's discussion paper on reform of the offshore funds regime proposes allowing offshore funds to invest any amount in non-distributing funds.

  • PBR: State second pension flat rate brought forward to 2009

    9 Oct 2007

    Chancellor Alistair Darling has announced that the state second pension flat rate will be brought forward to 2009 from its original deadline of 2012 or the end of the next Parliament in his Pre-Budget Report speech this afternoon.More to follow

  • 'Pension levy breaches fairness principle'

    4 Oct 2007

    Pension Protection Fund levy proposals will lead to unfair levies and breaches the PPF's first principle of fairness, says First Actuarial director Alan Smith.

  • 'Perfect storm' is forecast for commercial property

    4 Oct 2007

    The environment for commercial property is now as bad as at the height of the crash of 1989, according to Close Investments managing director property Simon Cooke.

  • Planners need more than exams

    4 Oct 2007

    I must take issue with Julie Lord's article in last week's Money Marketing and the utter nonsense she spouts regarding chartered v certified financial planner status.

  • Platform appoints new head of credit risk

    9 Oct 2007

    Platform has appointed Piero Bassu as head of credit risk within the company’s risk and compliance department.

  • Pledges, legacies and backtracks

    4 Oct 2007

    The Tories kicked off the pensions week in fine style by pledging to pay back victims of collapsed pension schemes within three months of the Party returning to office.

  • Pre-Budget report and CSR to be presented next Tuesday

    5 Oct 2007

    The Chancellor Alistair Darling will present the pre-Budget report and the outcome of the Comprehensive Spending Review to the House of Commons next Tuesday at 3:45pm.

  • Professional RDR response from CII

    4 Oct 2007

    The Chartered Insurance Institute is calling for a single set of standards, a new complaint system and harsher sanctions to build professionalism in the industry in its first response to the FSA's RDR. The response, A Professional Body for Retail Financial Services?, outlines what professionalism would look like in a post-RDR environment.

  • Property pension for three million

    4 Oct 2007

    Around 3.2 million people are relying on property for their pension and 33 per cent of UK adults are not making any provision for retirement, says Baring Asset Management. Its research shows that 7 per cent of people are relying on property investments to fund their retirement which Barings says leaves them "dangerously exposed" to fluctuations in the UK property market.

  • Property prices hold up despite credit crunch

    4 Oct 2007

    The housing market has resisted the effects of the credit crunch in September, with prices rising by a steady 0.7 per cent, according to Nationwide Building Society.

  • Put your questions to our expert panel

    4 Oct 2007

    With just over three months until the end of the retail distribution review consultation period, Money Marketing is inviting readers to submit their queries to our expert panel.

  • RBS consortium wins battle over ABN Amro

    8 Oct 2007

    A consortium led by RBS is set to buy Dutch bank ABN Amro after Barclays withdrew from the bidding war last week.Around 86 per cent of ABN Amro's shareholders have accepted a 71bn euro($98.5bn; £49bn) offer to clinch Europe's biggest ever banking takeover.The RBS consortium, which also includes Dutch bank Fortis and Spain's Santander, is now expected to break up the Dutch lender.

  • Record New Star profits

    4 Oct 2007

    New Star saw record profits in the first half of this year but chairman John Duffield warns that markets will be more challenging, at least in the short term.

  • Regulator must not retreat from its responsibilities

    4 Oct 2007

    It is just possible that all the folk at the regulator have had a very sharp reminder of what their day job is, following the run on Northern Rock.

  • Ride out a recession

    4 Oct 2007

    Investors concerned about a US recession could move to a defensive position but a better bet in the long term would be a balanced portfolio which can ride out market conditions, says Will Henley

  • Rock still faces big funding commitment

    4 Oct 2007

    Northern Rock still faces large amounts of mortgage lending funding commitments at its previous competitive rate, according to John Charcol senior technical manager Ray Boulger.

  • Royal London European Growth Trust goes overweight on banks

    3 Oct 2007

    The Royal London European growth trust has gone overweight in banks. Fund manager Kevin Lilley says he been aggressively underweight in the sector down to a seven per cent position on September 18 but says he moved overweight on September 26.

  • Sacrifice can beat NI trap

    4 Oct 2007

    Standard Life marketing technical manager Andy Tully says the lowering of basic-rate tax, which will be introduced from April 2008, is good news for anyone earning £15,000 or more a year.

  • 'Same old story with new wealth label'

    4 Oct 2007

    Thinc wealth management director Tim Parsons says many advisers are being taken in by the lure of a so-called shift in the way of doing business.

  • Scott White to join Martin Currie as director of comms

    4 Oct 2007

    Standard Life's head of media relations Scott White is joining Martin Currie as director of communications on November 1.

  • Seabrook to run F&C dark green fund against index

    4 Oct 2007

    F&C has continued its green investment stance with the launch of a new ethical bond fund under the management of Rebecca Seabrook.

  • Sears leaves Apcims for wholesale role at IMA

    4 Oct 2007

    Guy Sears is joining the Investment Management Association as director of wholesale, following a restructure of its senior management team.

  • Self-investment withdrawn for Tomorrow's closed pension book

    4 Oct 2007

    Swiss Re, the administrator of Tomorrow's closed book of pension policies, is withdrawing the self-investment option from its deferred Sipps from January 1, 2008, prompting advisers to urge switching.

  • Shock resistance

    4 Oct 2007

    Emerging markets are in good shape to withstand any weakness in the US

  • Sipp suitability

    4 Oct 2007

    FSA head of investments, small firms division, Jonathan Fischel says advisers must and assess individual needs carefully when recommending a Sipp

  • Skipton Building Society - Three Year Fixed Rate Mortgage

    3 Oct 2007

    Skipton Building SocietyThree Year Fixed Rate Mortgage

  • SLI widens ethical marketplace

    3 Oct 2007

    Standard Life InvestmentsEuropean Ethical Equity Fund

  • Small firms falling behind on TCF

    4 Oct 2007

    The FSA says small adviser firms fall "well short" of meeting treating customers fairly requirements compared with bigger firms and it intends to assess every small firm on TCF through visits and phone interviews.

  • Sore points

    4 Oct 2007

    Generally speaking, I have always tried to steer clear of writing about payment protection insurance in this column. PPI is not a product that, traditionally, has generated much interest from IFAs, so, a bit like current accounts, there does not seem to be much point in harping on about the subject more than once or twice a year.

  • Specialist spins out of top spot

    4 Oct 2007

    The specialist sector's 19-month table-topping tenure came to an end in August as property and natural resources funds fell out of favour.

  • SPML raises rates and slashes LTVs

    4 Oct 2007

    SPML has followed Preferred and made further criteria changes to its mortgage range as well as raising rates by a further 0.75 per cent.

  • Stephen Knight teams up with Martin Finegold to launch Checkmate Mortgages

    3 Oct 2007

    Mortgage guru Stephen Knight has teamed up with Kensington founder Martin Finegold to launch Checkmate Mortgages Limited, a vehicle for creating and owning mortgage lenders.

  • Structured products on the rise, says Keydata

    5 Oct 2007

    Keydata Investment Services is launching a new core investment to its dynamic growth plan as it recognises a growing interest for structured products.

  • Sub-prime demand to rise as supply declines

    4 Oct 2007

    Homefunding chief executive Tony Ward claims that the demand for sub-prime mortgages is likely to rise in the next 12 months despite several lenders predicting a huge drop in business next year.

  • 'Sub-prime rates were cut too far'

    4 Oct 2007

    Non-conforming lenders have overstepped the mark for sub-prime clients by reducing rates too much over the last year, according to Em Financial managing director Roger Morris.

  • Suffolk Life launches MasterSipp with protected rights option

    4 Oct 2007

    Suffolk Life has launched a trust based Sipp product which will allow customers to self-invest protected rights money.

  • Swip swoop for duo

    4 Oct 2007

    Scottish Widows Investment Partnership has reunited former Gartmore managers Nick Ford and Simon Moss by recruiting them for its global developed markets team.

  • Swip's Euro team defects to BlackRock

    4 Oct 2007

    BlackRock Mlim is to build on its European expertise in 2008 after recruiting three senior members of Scottish Widows Investment Partnership, including head of European equities Nigel Bolton.

  • Take a bearing on with-profits bonds

    4 Oct 2007

    FundsNetwork head of sales and marketing Rob Fisher charts a course to help advisers review with-profits bond investments

  • Taube-charged

    4 Oct 2007

    Nils Taube has managed institutional and retail funds since 1969 and has built up a track record of consistent long-term outperformance in the global equity markets, delivering compound annual returns of between 14 and 15 per cent over 38 years. This means that if you had invested £10,000 with him in 1969, it would now be worth in the region of £1.5m.

  • The fault lines that led

    4 Oct 2007

    John Bruce, a senior solicitor at City law firm Reynolds Porter Chamberlain, looks at the chain of events that led from the US sub-prime crisis to lines of anxious savers queuing outside Northern Rock branches this month

  • The new age of equity release

    4 Oct 2007

    Will Henley reports on the fall in average age for equity-release clients

  • The next generation of cautious managed funds

    4 Oct 2007

    Most investors want two things from their investment - a stable return with as little risk as possible. One of the best ways to achieve this goal is through diversification at the asset allocation level, in other words, getting the right split between equities, bonds, property and cash at the right time.

  • The spotlight is on Norwich Union

    9 Oct 2007

    I'm sure you're all eagerly anticipating Chancellor Darling's Pre-Budget Report, due to be delivered hand in hand with the Comprehensive Spending Review at 3.45pm today, but first take some time out to get on top of this week's protection news.

  • The truth will out

    4 Oct 2007

    Lord Lipsey's admission that many pension and endowment policyholders may have been wrongly compensated will come as little surprise to advisers, who have paid the price of 'false memory syndrome'. By John Lappin

  • Tim Jones named as new chief exec of personal accounts body

    8 Oct 2007

    The Government has announced the appointment of Tim Jones as chief executive of the Personal Accounts Delivery Authority.

  • Timberlake leaves in Standard shake-up

    4 Oct 2007

    Standard Life head of media relations for life and pensions Peter Timberlake has left the firm after an internal restructure which meant his role was merged with another. Former head of corporate affairs for Standard Life Healthcare Paul Lynes takes on the newly created role of head of media and public affairs.

  • Tomorrow backtracks on withdrawal of Sipp option saying it was a mistake

    4 Oct 2007

    Tomorrow says it mistakenly issued letters to 15,000 customers and 4,000 advisers telling them it would be withdrawing the self-investment option on its closed book of deferred Sipp business from January 2008.

  • Tories pledge to triple IHT threshold

    4 Oct 2007

    The Conservatives have pledged £3bn in tax cuts to more than triple the inheritance tax threshold to £1m and double the stamp duty threshold to £250,000 for first-time buyers, with both policies being paid for by a £25,000 annual flat tax on non-domiciles.

  • Tories would end peril of means-testing pensions

    4 Oct 2007

    A future Conservative administration would make drastic changes to pension personal accounts to eliminate the dangers of means-testing if the Government refuses to budge.

  • Transfer window

    4 Oct 2007

    I have been discussing, over my last couple of articles, the possible reasons for clients to transfer from one money-purchase pension contract to another.

  • Transparency was the clear choice

    4 Oct 2007

    Contrary to what some sections of the industry would have us believe, wrap is pretty simple and straightforward.

  • Treasury Select Committee urges launch of national savings gateway

    9 Oct 2007

    A Treasury Select Committee Report has urged the Government to launch a national saving gateway to encourage low-income individuals to save by matching their contributions.

  • Trustee steeds

    4 Oct 2007

    A lot may ride on a life policy being written in trust so why are so few clients harnessing them? By Will Henley

  • Turning up the volume

    4 Oct 2007

    In the words of Warren Buffett, it is often advantageous to 'be fearful when others are greedy and greedy when others are fearful'. The last few months have been volatile for global equity markets and we have tried to play that to our advantage.

  • Under a quarter of young people have little chance of getting a home says Hometrack

    5 Oct 2007

    Hometrack has found that just under a quarter of young working households have little chance of accessing home ownership in their local housing market.

  • Unity Homeloans to cull jobs as it outsources administrative and client support functions

    8 Oct 2007

    Unity Homeloans has announced to the market that its board has decided to restructure the business and outsource administrative and client support functions.

  • Vantage points

    4 Oct 2007

    Tom McPhail makes a persuasive argument for choosing to invest in a Sipp

  • Victoria Mortgages to complete buyer talks today

    5 Oct 2007

    Victoria Mortgage's administrator KPMG says that it is likely to be able to confirm a buyer for the lender today at the earliest.

  • Victoria Mortgages unable to find buyer, 50 staff to be made redundant

    8 Oct 2007

    Victoria Mortgages' administrator KPMG says it has been unable to find a buyer for the lender.

  • We need the truth on claims

    4 Oct 2007

    Lord Lipsey's remarks suggesting that some people lied to get compensation by pretending not to remember conversations in both the pension and endowment reviews have provoked outrage among advisers.

  • West Bromwich Building Society - Buy to Let Tracker – BBR + 0.29% for 2 years

    4 Oct 2007

    West Bromwich Building SocietyBuy to Let Tracker – BBR + 0.29% for 2 years

  • Which? wants FSA levy to fund scheme

    4 Oct 2007

    Which? says industry funding for generic advice should come from the FSA levy but the Investment Management Association says this could alienate the industry and a voluntary scheme is needed.

  • Why should the financial services industry pay for generic advice?

    3 Oct 2007

    Exactly who has made, and then won, the argument that the financial services industry should foot half the bill or more for generic advice or information?

  • Witan picks Chicago boutique firm in shift to Asia and alpha

    4 Oct 2007

    Witan has appointed Thomas White International to manage a £150m mandate within the company's £1.5bn investment trust.

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