Money Marketing
30 January 2008

  • Fed cuts rates for second time in nine days

    31 Jan 2008

    The Federal Reserve cut interest rates again last night in a second bid to avoid a recession in the US.

  • Land Registry shows 0.4% dip in prices

    31 Jan 2008

    Land Registry figures show house prices in England and Wales dropped by 0.4 per cent in December, the first fall since August 2005. The average price is £184,469.

  • Profit warning from FSA on mortgages

    31 Jan 2008

    The FSA warns in its Risk Outlook for 2008 that mortgage intermediaries and packagers could face pressures on profitability due to declining business volumes. It also forecasts a rise in repossessions.

  • £1.66Bn harvest for agriculture fund

    31 Jan 2008

    Schroders has soft-closed its agriculture fund after strong investor demand. The fund, which uses futures, launched in October 2006 and is £1.66bn in size.

  • 3A adds further enhancements to range

    31 Jan 2008

    Fund of hedge fund manager 3A has added six funds of hedge funds to its alternative capital enhancement Sicav range.

  • A kind of magic

    31 Jan 2008

    I generally enjoy reading Nic Cicutti's column and his recent article featuring me (Money Marketing, January 17) was no exception, perhaps because I was on a Barbados beach at the time and read it on my Blackberry.

  • A shaw thing

    31 Jan 2008

    Sam Shaw is a reporter on Money MarketingAfter a very late arrival at Andrew Edmunds on Wednesday, I grabbed the tail-end of a rather interesting conversation led by Elliot Lane, head of media relations at the Chartered Insurance Institute, over lunch about Amy Winehouse and company expenses.

  • A&L secures funds but faces £185m hit

    31 Jan 2008

    Alliance & Leicester says it now has enough funding in place until the end of 2008. In a statement, the lender reveals it faces a £185m hit over the credit crunch, up from £55m last November.

  • ABI publishes protection factsheet for consumers

    1 Feb 2008

    The Association of British Insurers has published a factsheet outlining the different types of protection products available to consumers.

  • ABI warns over auto-enrolment

    31 Jan 2008

    The Association of British Insurers claims the pension reform programme could fail unless the Government fights for a change to EU law to allow auto-enrolment in group personal pensions.

  • A-Day effect just keeps on going for advisers

    31 Jan 2008

    The A-Day effect is far from over as advisers are predicting that clients' pension contributions will increase over the next three years, says Skandia.

  • A-day opportunities in risk

    1 Feb 2008

    A-day opportunities for group risk remain untapped, in part because of the separation of pension and group risk advice says Aegon Scottish Equitable.

  • Adviser Fund Index - Domestic upheaval

    31 Jan 2008

    UK equities took a battering at the start of last week as global stockmarkets reacted to fears over the US economy. The FTSE 100 fell by 5.5 per cent on Monday, January 21, finishing the day over 300 points lower at 5,578.2. The index has recorded far bigger single-day percentage falls in the past but many investors were surprised by the scale of the decline.

  • Advisers happy to adopt CAR, says Zurich

    31 Jan 2008

    The majority of advisers would welcome the introduction of customer agreed remuneration according to Zurich.

  • Advisers say service is improving

    31 Jan 2008

    Axa has again finished bottom of the Sesame Provider Service Index, with Just Retirement retaining top position.

  • Aegon cuts initial charge on UK trio

    31 Jan 2008

    Aegon Asset Management is discounting the initial fee on three UK funds.

  • Aifa issues publication to clarify Mifid

    1 Feb 2008

    The Association of Independent Financial Advisers has issued a publication that gives further clarification to firms about the rules surrounding Mifid.

  • All things price

    31 Jan 2008

    The last eight years have seen many changes in the world of pensions. In 2000, the traditional personal pen-sion was king. Multi-manager personal pensions and Sipps were viewed as niche products and on the horizon was the new kid on the block, stakeholder pensions.

  • Alliance Trust appoints new head of distribution

    1 Feb 2008

    Alliance Trust has appointed Edward Troughton as managing director of asset management distribution.

  • Annuity deal for smokers

    31 Jan 2008

    Partnership is offering what is claims to be the most competitive smoker annuity available .

  • Aon warns against hybrid charging structure for personal accounts

    31 Jan 2008

    Aon Consulting is warning the Personal Accounts Delivery Authority that a hybrid charging structure for personal accounts will penalise lower earners.

  • Arc pays 2m for adviser firm

    31 Jan 2008

    IFA Arc Fund Management has bought Independent Investment Associates for 2.1m.

  • Arc returns to fixed income plan

    31 Jan 2008

    Arc Capital & income has introduced its fourth fixed income plan, a capital-protected bond that provides monthly or annual income during a term of five years and three weeks.

  • Asset allocation in stormy times

    1 Feb 2008

    Today's volatile markets ram home the fact that defined contribution pensions pass all risk on to employees, making the issue of asset allocation crucial, John Greenwood reports

  • Asset aside

    31 Jan 2008

    In simple terms, estate planning is ensuring that when a client dies their assets pass on to their intended beneficiaries but while this is simple in theory, there are, in practice, a number of complications.

  • Atlantic crossing

    31 Jan 2008

    Adventure is obviously in stockbroker Leven Brown's blood as he is a descendant of Christopher Columbus.Brown, a former stockbroker at Brewin Dolphin, recently rowed the Atlantic in a 14-man team and shattered the long-standing world record for the 3,000-mile ocean crossing by two days.Brown and his team spent 33 days at sea before landing in Port St Charles, Barbados.Sponsorship raised by the crew will go to charities, including Cancer Research, Save the Albatross and the Cutty Sark.

  • Axa slaps six month notice period on life and pensions property funds

    31 Jan 2008

    Axa has deferred redemptions from its retail life and pensions property funds for up to six months in a bid to deal with falling liquidity levels.

  • Bank manager jailed as warning to fraudsters

    31 Jan 2008

    A judge has told a crooked bank manager he was sending him to jail as a warning to others.

  • Bank of Ireland withdraws products to protect service levels

    4 Feb 2008

    The Bank of Ireland has emailed brokers announcing the withdrawal of a selection of its products from its new business range tomorrow.

  • Bank robbery

    31 Jan 2008

    Bertolt Brecht said: "It is easier to rob by setting up a bank than by holding up a bank clerk."

  • Barclays Wealth - Regular Income Bond

    1 Feb 2008

    Barclays WealthRegular Income Bond

  • Battle fatigue

    31 Jan 2008

    Do readers believe providers have any obligation to honour policy conditions, adhere to their published service standards or recognise IFA complaints?

  • Bill of rights

    31 Jan 2008

    The headlines over the recent Pensions Bill have centred firmly on pension reform and the introduction of auto-enrolment and the personal accounts scheme. But this bill is not a one-trick pony. It also tackles other areas of pension rules.

  • Black and White withdraws from regulated mortgage market

    4 Feb 2008

    The Black and White Group has confirmed it is withdrawing from the regulated mortgage and insurance market.

  • Blanchflower the lone dissenter as MPC voted 8-1 to hold bank rate

    31 Jan 2008

    Bank of England monetary policy committee members voted 8-1 in favour of maintaining bank base rate in January.

  • Blue Monday but brighter outlook

    1 Feb 2008

    January generally is a dim month, and the financial crisis hitting global markets hardly brightens the scene, but all is not gloom and doom

  • Bonham Carter rallies investors

    31 Jan 2008

    Jupiter Asset Management chief executive Edward Bonham Carter has called for investors to hold their nerve amid market volatility as a sharp decline could provide long-term buying opportunities in equities.

  • Broker Talkback

    31 Jan 2008

    Is the FSA justified in increasing adviser fees by 10 to 15 per cent to pay for the costs of its treating customers fairly initiative?

  • Brokers hang on with remortgages

    31 Jan 2008

    Robert Sterling managing director Kevin Duffy says business levels are down by 20 to 40 per cent from last year.

  • Buffett meal

    31 Jan 2008

    This year has got off to a disappointing start with falls across all global equity markets. The latest bout of volatility stems from continued concerns about the state of the US economy.

  • By comparison

    31 Jan 2008

    Those of you who check out small details such as the email to use when berating me for any sins and omissions in this column will have noticed recently that I no longer use the moneysupermarket.com address. After nine interesting months at moneysupermarket, I have rejoined the freelance world.

  • CGT tripled for some SAYE savers

    1 Feb 2008

    Changes to capital gains tax, confirmed by the Treasury last month, could negatively affect over 270,000 employees in Save As You Earn (SAYE) schemes says ifs ProShare.

  • CII Group and Scottish Widows to produce professionalism package

    5 Feb 2008

    Scottish Widows and the CII Group have formed a partnership to deliver a “package of professionalism” to support financial advisers progressing towards specific diploma and advanced diploma qualifications.

  • Closepip shuts door on property

    31 Jan 2008

    Close Investments has temporarily closed the doors on its property investment portfolio.

  • Commercial conditions

    31 Jan 2008

    The times are certainly changing for retail investors in property funds. There is so much news around covering commercial property fund redemptions by retail investors such as Aegon stopping customers from withdrawing their money from the £2bn Scottish Equitable property fund run by Morley Fund Management.

  • Darling launches consultation paper on financial stability and depositor protection

    30 Jan 2008

    Alistair Darling has launched a consultation on strengthening the current framework for financial stability and protecting depositors.

  • Darling set for crisis talks with insurers

    31 Jan 2008

    Chancellor Alistair Darling is to hold further crisis meetings with the insurance industry to address the devastating effect that his capital gains tax changes will have on the insurance bond market.

  • DC Company pensions contract based schemes in favour

    1 Feb 2008

    Jeremy Ward, Head of Pensions Marketing, Friends Provident, considers why more employers are choosing a contract based work place company pension scheme

  • Deadline for Northern Rock bids today

    4 Feb 2008

    Virgin, Olivant and Northern Rock's management are expected to submit formal bids for the collapsed bank to meet today's deadline.

  • Death of brokers' champion Andrew Paddick

    31 Jan 2008

    Andrew Paddick, director general of the Institute of Insurance Brokers, died suddenly last week.

  • Derbyshire CEO Peter Richardson retires early

    30 Jan 2008

    Derbyshire Building Society chief executive officer Peter Richardson has decided to take early retirement from the society.

  • Diversify to multiply

    1 Feb 2008

    Volatility in employees' pension funds can cause unease among an employer's workforce. Paul Farrow examines how diversification can pour oil on todays troubled investment waters

  • Do individual investors have well-defined preferences?

    1 Feb 2008

    Over the last few decades, there has been a global shift from defined benefit plans to defined contribution plans. With that shift, the responsibility for retirement planning has been turned over to employees. In particular, employees have to decide how much to save and how to invest their money.

  • Do you know who I am?

    31 Jan 2008

    Kevin Lyon from Aegon gave a speech at the recent Falcon conference about the importance of attention to detail when cold-contacting potential leads, particularly emphasising how important it was to get their name right.

  • Dog days for fund firms

    31 Jan 2008

    Schroders tops the shame list in this year's Bestinvest Spot the Dog research, with £1.173bn of assets in the doghouse.

  • Don't get stressed

    1 Feb 2008

    Stress amongst employees is costing UK businesses increasing amounts. Edmund Tarbutt finds intermediaries can profit from de-stressing their clients' workforces

  • Duffield plans turn-round for New Star

    31 Jan 2008

    New Star has had a troubling start to the year after cutting its dividend following marked withdrawals from its funds.

  • Elastic bands

    31 Jan 2008

    This tax year, 2007-08, has been a vintage year for inheritance tax aficionados.

  • EU commission ban proposal overturned

    31 Jan 2008

    The Association of Finance Brokers and Association of Mortgage Intermediaries have claimed victory in securing an amendment to the European consumer credit directive which would have banned commission.

  • F&C reports record year as it prepares for sale

    31 Jan 2008

    F&C recorded gross new inflows of £703m into its Oeic range in 2007, a 37.3 per cent increase on 2006, in what was a record year for its open-ended investment funds.

  • Federal express

    31 Jan 2008

    Turmoil in the markets, the Fed catching us all out, Mervyn King warning of tough times ahead - not to mention the annual Davos Fest - it felt as though a whole quarter had been crammed into a single week.

  • Firm but fair

    31 Jan 2008

    Technology has long had a symbiotic relationship with regulation. Many of the regulatory changes that we have seen in the last 20 years would have been almost impossible without technology. Take disclosure, for example.

  • Fitch downgrades Friends Provident after strategic review announced

    31 Jan 2008

    Fitch Ratings has downgraded Friends Provident's insurer financial strength rating to A from A plus and its long-term issuer default rating to A minus from A.

  • Flint becomes housing minister

    31 Jan 2008

    Caroline Flint has been appointed housing minister at the Department for Communities and Local Government. She was previously minister for employment and welfare reform and minister for public health.

  • Friends International protects global growth

    31 Jan 2008

    Friends Provident International is offering an 80 per cent global growth protector fund.

  • Friends Prov shows commitment to protection

    5 Feb 2008

    Friends Provident decided last week to do away with its wealth management businesses to concentrate on the life and pensions and protection markets.

  • Friends to sell F&C and Pantheon but retain Sesame

    31 Jan 2008

    Friends Provident is to sell F&C, high-net worth IFA firm Pantheon and wealth management arm Lombard and cease development of its wrap in a massive group restructure announced today.

  • FSA bans Jonathan Hardie for mishandling mortgage endowment complaints

    30 Jan 2008

    The FSA has banned Jonathan Leigh Hardie, of Primedale Financial Services, from being a senior manager for mishandling mortgage endowment complaints over a period of five years.

  • FSA updates consumer site

    31 Jan 2008

    The FSA has relaunched its consumer website, Moneymadeclear, which offers information and product comparison tables. It plans to add payment protection insurance comparison tables soon.

  • FSA warns banks after SocGen loss

    31 Jan 2008

    The FSA has warned UK banks to check their risk management and controls after claims that a trader at Societe Generale lost the bank £3.7bn.

  • FundsNetwork Fofs tackle RDR challenge

    31 Jan 2008

    FundsNetwork is adding five fund of fund portfolios to its platform to help advisers deal with the regulatory changes expected from the retail distribution review.

  • Funnell defends fund fee

    31 Jan 2008

    GLG, the outsourced manager of Virgin Money's new climate change fund, has responded to adviser criticism of the product by claiming it is a progressive step in the market.

  • GE Money - Near Prime Plus Three-Year Discount Full Status

    31 Jan 2008

    GE MoneyNear Prime Plus Three-Year Discount Full Status

  • GE Money - Near Prime Three-Year Discount Self Cert

    31 Jan 2008

    GE MoneyNear Prime Three-Year Discount Self Cert

  • Get Ellison

    1 Feb 2008

    Robin Ellison is acknowledged to be Britain's legal authority on pension law. He discusses Maxwell, the Mafia and much more with John Greenwood

  • Going for gold

    31 Jan 2008

    Despite the recent fall, gold prices should continue to rise and some forecasters believe the price may reach $2,000 an ounce in the medium term. It would need to rise to this figure to reach an all-time high in real terms after taking into account inflation since 1980.

  • Gold stars

    1 Feb 2008

    Each month we bring you the opinions of the managers of the funds most likely to be selected for pension portfolios through external fund links or Sipps. This month - GRAHAM BIRCH'S BLACKROCK ML GOLD & GENERAL FUND

  • Government proposes financial incentives as a solution for obesity problems

    1 Feb 2008

    The Government is planning to promote healthy living by giving financial incentives for obese people to loose weight.

  • Grey area for Nutt as Geffen moves into list

    31 Jan 2008

    Jupiter income guru Anthony Nutt is the big name omission from the latest Principal Investment Management White List.

  • Half of Co-op pension clients opt for ethical fund choice

    31 Jan 2008

    Co-operative Insurance says around half of its new pension investors are putting money into ethical funds.

  • Heads should roll at the FSA, says Vince Cable

    30 Jan 2008

    Liberal Democrat shadow chancellor Vince Cable says Alistair Darling should be firing FSA chairman Sir Callum McCarthy after the regulator's "systematic failure" over Northern Rock rather than increasing his powers. He says: "After the Treasury Select Committee report concluded that the FSA was guilty of ‘systematic failure’ over Northern Rock, it is baffling that the Chancellor now seems intent on giving it a bigger role, rather than the Bank of England. “The Government ...

  • Health and wellbeing tax relief for SMEs considered

    1 Feb 2008

    Tax relief for SME businesses that buy health and wellbeing products is seriously being considered by the Government according to Nick Kirwan, head of health and protection at the ABI.

  • Health Shield updates direct and corporate health plans

    1 Feb 2008

    Health Shield has updated its voluntary corporate and direct health cash plan schemes, introducing new dental accident, parental hospital stay and health and wellbeing benefits.

  • Hedge fund RAB backs Northern Rock's in-house management team

    5 Feb 2008

    One of Northern Rock's biggest shareholders threw its backing behind the bank's in-house management proposals after Olivant announced it was no longer bidding for the stricken lender.

  • Heirs apparent

    31 Jan 2008

    Inheritance tax is an issue which rankles with many people and more IHT-mitigation products are coming on to the market.

  • Henderson goes Dutch to cut costs of hedge exposure

    31 Jan 2008

    Henderson's multi-manager team are holding a multi-strategy hedge fund that is structured as an investment trust because the fees are lower than a fund of hedge funds.

  • Hightree Financial Services...

    31 Jan 2008

    Hightree Financial Services employee Keith Galgut was a happy man last week after walking away with a Toyota Prius hybrid car courtesy of Schroders, which ran a competition last September to mark the launch of its climate change fund.

  • House prices remain static in January says Halifax

    5 Feb 2008

    House prices were static in January but there are continuing signs of weakness in housing market activity according to Halifax.

  • How green is your pension?

    1 Feb 2008

    Standard Life should be applauded for its 'Go Paperless' initiative - now the rest of the industry needs to green their financial products says Ian McKenna, director of the Financial Technology Research Centre

  • HSBC hits positive note in Russia

    31 Jan 2008

    HSBC InvestmentsHSBC GIF Russia Equity fund

  • Ian Lowes Live and kicking

    31 Jan 2008

    This capital-protected bond is linked to the FTSE 100 or a combination of the FTSE 100 and Nikkei 225 over six years.

  • IMA calls for total abolition of stamp duty

    1 Feb 2008

    The Investment Management Association is calling for the total abolition of stamp duty on investments to stem the flow of funds offshore where investors perceive them to be less heavily taxed.

  • In sickness and wealth

    1 Feb 2008

    Picking the right cash plan is about more than which offers the best value in payout terms. Sam Barrett finds a growing array of benefits designed to suit all sorts of workforces

  • Individual insolvencies decrease in Q4 2007

    1 Feb 2008

    Individual insolvences in England and Wales in the fourth quarter of 2007 has seen a decrease of 16.4 per cent on the same time in 2006.

  • Inflation letters may be on way

    31 Jan 2008

    Bank of England governor Mervyn King has warned of a tough year ahead with rising inflation and further tightening of credit.

  • Inheriting issues

    1 Feb 2008

    Last autumn's easing of inheritance tax criteria is welcome, but it has created fresh issues for advisers, says Sonia Speedy

  • Investment matters

    31 Jan 2008

    A $1,000 gold price may have looked to be an optimistic forecast not long ago but today it seems close to reality.

  • Investment matters - Bullion for you

    31 Jan 2008

    A $1,000 gold price may have looked to be an optimistic forecast not long ago but today it seems close to reality.

  • Jelf makes three acquisitions

    31 Jan 2008

    Jelf Group has bought adviser firm Manson Insurance Group and insurance brokers Bartlett Davies Bicks and Carter & Co Risk Management.

  • JO Hambro re-opens European funds

    5 Feb 2008

    JO Hambro Capital Management has re-opened its offshore £474m continental European and £178m European funds after re-evaluating the capacity levels on the range.

  • John Deane

    31 Jan 2008

    You don't fix what isn't broken, says John Deane, the Royal London executive director with responsibility for IFA business, apparently weary of persistent rumours that Bright Grey and new acquisition Scottish Provident will be merged.

  • John Tiner to take part in Tory review of regulation

    4 Feb 2008

    Former FSA chief executive John Tiner is a member of an independent review body which has been commissioned by the Tories to look into regulation in the UK.

  • Judgement week

    30 Jan 2008

    Now is perhaps not the best time for investment firms to judge the performance of fund managers given the recent market volatility.

  • Jupiter appoints non-executive chairman

    31 Jan 2008

    Jupiter Investment Management Holdings Ltd has appointed Jamie Dundas as its non-executive chairman.

  • Kelly returns to Sesame as MD

    31 Jan 2008

    Thinc operations director Nick Kelly is to return to Sesame as its network and direct managing director.

  • Kensington Mortgages chief executive resigns

    1 Feb 2008

    Kensington chief executive Alison Hutchinson has announced she will be leaving the firm at the end of March following its integration with parent company Investec.

  • Kensington rocked as it loses chief executive

    1 Feb 2008

    Kensington has lost its second chief executive in the space of a year after it confirmed Alison Hutchinson would be leaving the lender at the end of March.

  • Last call for Ultimate Default Fund votes

    1 Feb 2008

    The deadline is approaching for readers to vote in the Corporate Adviser Ultimate Default Fund competition and win a case of champagne.

  • Late exodus spoiled year for funds

    31 Jan 2008

    December saw one of the biggest-ever recorded outflows from retail funds, according to the Investment Management Association.

  • Less competitive rates as lenders wait for Rock fixed deals to expire

    31 Jan 2008

    Lenders have less need to produce competitive rates this year as thousands of Northern Rock five-year fixed deals come to an end, says The Mortgage Practitioner sole practitioner Danny Lovey.

  • Let the Bank take the lead

    31 Jan 2008

    The MPs of the Treasury select committee suggest the Bank of England should take responsibility for financial stability of banks from the FSA.

  • LibDems set out plans for care pledge

    31 Jan 2008

    Liberal Democrat leader Nick Clegg has outlined a £2bn care guarantee plan for the elderly as part of proposals to reform the NHS.

  • Life Trust income plan is long bet, claims McPhail

    31 Jan 2008

    Hargreaves Lansdown head of pensions research Tom McPhail has branded Life Trust's new longevity income plan a "gambler's investment" as it does not return value unless investors live until their mid-90s.

  • Like it or lump it

    31 Jan 2008

    I have an executive pension plan with a fund value of £100,000 and a tax-free cash limit of £35,000. I gather that the new pension rules do not allow me to transfer this fund without reducing my tax-free cash limit to 25 per cent of the fund. Is that correct?

  • London & Capital in multi-asset offering

    31 Jan 2008

    London & Capital has set up a portfolio management service offering the mass-affluent a combination of absolute return and multi-manager strategies.

  • Low cost Sipps hailed by L&G

    1 Feb 2008

    Low-cost group Sipps are being recognised as the company pension of choice by an increasing number of large organisations says Legal & General.

  • Market chaos may slow intermediary business

    1 Feb 2008

    Uncertain financial markets could put the brakes on those intermediaries seeking to grow their employee benefits business but should not threaten existing client relationships say advisers and providers.

  • Matthews quits Standard for Friends

    31 Jan 2008

    Standard Life head of UK retail Trevor Matthews has quit to join Friends Provident as group chief executive.

  • Mervyn King reappointed governor of the Bank of England

    30 Jan 2008

    Mervyn King has been reappointed governor of the Bank of England for a further five year term.

  • Michael Both

    31 Jan 2008

    The Epic venture capital trust is a generalist VCT that aims to raise up to 15m to invest initially in non-qualifying fixed-income and quoted mid-cap equity portfolios and then in qualifying unquoted companies.

  • Mike Kellard warns against RDR making commission "impossible"

    31 Jan 2008

    AXA & Winterthur Wealth Management CEO Mike Kellard expressed concerns that the RDR could make commission impossible in a speech at the Westminster & City conference today.

  • Modest drop in house prices for January

    31 Jan 2008

    House prices fell in January by a modest 0.1 per cent according to Nationwide's house price index.

  • Money Marketing Markets: FTSE rebounds after third worst month on record

    1 Feb 2008

    As January goes so goes the year, according to the cliché, but investors will be praying that it does not come true.

  • Mortgage approvals show dramatic fall

    31 Jan 2008

    Analysis from Connells Survey & Valuation shows a huge drop in mortgage approvals, with figures down by 21 per cent in December from November and showing a 43 per cent fall from December 2006.

  • Mortgage Business Expo: FSA increases enforcement resources

    30 Jan 2008

    The FSA says it has increased its enforcement resources in a bid to tackle those firms that continue to fail to meet the regulator’s Treating Customers Fairly guidelines.

  • Mortgage Business Expo: AMI aims to encourage new lenders into market

    30 Jan 2008

    The Association of Mortgage Intermediaries is to hold an event in May in a bid to encourage new lenders into the UK mortgage market.

  • Mortgageforce wins civil service deal

    31 Jan 2008

    Mortgageforce has secured a three-year contract to look after the mortgage needs of over 300,000 civil servants.

  • Mortgages Plc tests out technology platform

    31 Jan 2008

    Mortgages Plc is testing its new technology platform which aims to offer complete automation to brokers.

  • MPL launch property fund

    4 Feb 2008

    Managing Partners Limited (MPL) has launched a new property fund in a bid to take advantage of discounts in the market.

  • MPs back pay rise of 1.9%

    31 Jan 2008

    MPs have accepted a below-inflation pay rise of 1.9 per cent after pressure from Government and Opposition leaders.

  • MPs want Bank to take lead role over the FSA

    31 Jan 2008

    MPs have attacked the FSA for failing to properly supervise Northern Rock and have proposed a new office within the Bank of England to look after financial stability.

  • National Dragons' Den to boost enterprise says Tory review

    5 Feb 2008

    An independent review commissioned by the Tory party into the UK's enterprise environment has proposed that a national system similar to the TV show Dragons' Den should be introduced to boost entrepreneurialism in the UK.

  • Nationwide and Legal & General start distribution partnership

    5 Feb 2008

    Nationwide Building Society will sell Legal & General protection, investment and pension products to its members starting today.

  • NDFA - Twin Option Kick Out Plan

    1 Feb 2008

    NDFATwin Option Kick Out Plan

  • Negative charge?

    31 Jan 2008

    Standard Life set up discretionary investment management service Standard Life Wealth last week with a proposed 1.375 per cent charge.

  • New fees free overseas property mortgage broker launches

    4 Feb 2008

    A new fees free overseas property mortgage brokers has launched today.

  • No quick fix for borrowers

    31 Jan 2008

    Tracker products with no early redemption charges are the most popular mortgage deals so far this year due to the continued failure of lenders to offer competitive fixed rates.

  • Noble Fund Managers - Noble Aim VCT Top Up

    31 Jan 2008

    Noble Fund ManagersNoble Aim VCT Top Up

  • Northern lights

    31 Jan 2008

    The last few months have been a torrid time for Newcastle. The football club appears to be in turmoil while Northern Rock has been engulfed in the credit crunch. At least Jonny Wilkinson is fit and playing for the rugby team. One other thing prospering in Newcastle is NVM Private Equity but more of them later.

  • Norwich Union announces special bonus of £2.3bn to with-profits customers

    5 Feb 2008

    Norwich Union has announced it will pay out a special bonus of £2.3bn to 1.1 million with-profits policyholders and has put an improved reattribution offer to the policyholder advocate.

  • NU lowering protection rates

    31 Jan 2008

    Norwich Union has cut its protection rates for mortgage, life and term insurance. It has focused on providing affordable cover for sums assured of £175,000 and over.

  • NU threat to halt payouts as orphan cash row grows

    31 Jan 2008

    Norwich Union says it may halt the reattribution of its £5bn inherited estate if its dispute with policyholder advocate Clare Spottiswoode is not resolved quickly.

  • O'Brien backing Aifa's manifesto

    31 Jan 2008

    Pensions minister Mike O'Brien has thrown his weight behind the Association of Independent Financial Advisers' Manifesto for Advice.

  • Old can be gold

    1 Feb 2008

    Finding employers and employees better terms for their workplace pension schemes is a valuable service. There are still bad old contracts out there that need revisiting, says James Phillipps

  • Olivant pulls out of the race for Northern Rock as Virgin and NR Board submit proposals

    4 Feb 2008

    Olivant has announced today that it has decided to pull out of the running for Northern Rock while the Virgin-led consortium and NR's Board have confirmed their plans for the stricken lender.

  • Optimiser irons out emerging volatility

    31 Jan 2008

    Barclays Wealth is to widen its protected investments with the launch of an emerging markets product.

  • Origo launches agency service

    31 Jan 2008

    Origo is offering a new online agency registration service to allow advisers to set up trading relationships with multiple providers using a single electronic application.

  • Overseas pension products imminent

    1 Feb 2008

    UK life offices will within three years be offering British customers pension products that are registered overseas predicts pensions law guru Robin Ellison.

  • Pada is urged to publish its calculations

    31 Jan 2008

    Aegon is calling on the Personal Accounts Delivery Authority to publish the assumptions it is using to calculate charges.

  • Pada outlines charging options

    31 Jan 2008

    The Personal Accounts Delivery Authority launched its consultation paper on the scheme's charging structure this week. Chief executive Tim Jones outlines options including an annual charge, contribution charge, joining charge or combination of these.

  • Pension shadow Waterson arrested

    31 Jan 2008

    Conservative Shadow pension minister Nigel Waterson was arrested this week after allegedly assaulting his teenage son and daughter. A police spokesman says a 58-year-old man was released on police bail pending further enquiries.

  • PI firm aims to cut costs for mortgage brokers

    31 Jan 2008

    A professional indemnity insurance broker is to launch a new product in a bid to lower mortgage advisers' PI premiums, which face a massive hike this year.

  • PosSol Forum: New Mortgage Club launched

    31 Jan 2008

    Positive Solutions is launching a new in-house mortgage advice and sales service intended to offer its advisers exclusive deals from mortgage providers.

  • PosSol Forum: PosSol platform launch “uncoordinated” and “ineffective”, admits Jim Reeve

    31 Jan 2008

    Positive Solutions chief executive Jim Reeve has conceded the launch of True Potential, the firm’s chosen platform provider, has been blighted by inadequate training support and uncoordinated communication.

  • PosSol says Lexicon Partners appointment shows it is serious about flotation

    1 Feb 2008

    Positive Solutions has appointed corporate finance advisory firm Lexicon Partners to assist it with its planned stock market flotation in 2010.

  • Price pressure hits home

    31 Jan 2008

    House prices have fallen for the fourth successive month and the average time it takes to sell a property is now 8.5 weeks - the longest since Hometrack began its monthly surveys in 2001.

  • Pro planners taking on wealth managers

    31 Jan 2008

    Top-end advisers are making steady inroads into client business which has previously been the domain of private banking institutions, says Transact.

  • Product matters

    31 Jan 2008

    It is a life product, so it does have to cope with cumbersome pension rules. It combines an offshore bond of at least 10 years, with a 20-year purchased life annuity, so it is pretty tax-efficient.

  • Purnell takes over from Hain at DWP

    1 Feb 2008

    James Purnell has taken the role of secretary of state for work and pensions following the resignation of Peter Hain.

  • Purnell takes over Work and Pensions

    31 Jan 2008

    Former Culture Secretary James Purnell has become the fifth Work and Pensions Secretary in three years following the resignation of Peter Hain.

  • Putting a value on saving

    1 Feb 2008

    The second reading of the Pensions Bill has left unanswered several key questions, says John Lawson, head of pensions at Standard Life

  • Qualifications and commission central to Retail Distribution Review

    1 Feb 2008

    Commission structures and advisers' qualifications have taken centre stage in the battle over the FSA's Retail Distribution Review proposals.

  • 'RDR must consider role of solicitors'

    31 Jan 2008

    Sifa managing director Ian Muirhead is calling on the FSA to consider the Legal Services Act 2007 and its implications for advisers as part of the retail distribution review.

  • Ready for action

    31 Jan 2008

    Many will have buried their new year resolutions in the bottom drawer along with the discounted gym membership which was probably promoted by a leading health insurer.

  • Reita appoints IPF's Keane as first director

    4 Feb 2008

    Reita, the industry body for real estate investment trusts, has appointed former Investment Property Forum executive director Amanda Keane as its first director.

  • Rent rises boost buy-to-let returns

    31 Jan 2008

    Total returns for buy-to-let investors trebled to 21 per cent last year, says Paragon.

  • Review to assess rental market

    31 Jan 2008

    The Government has set out plans for a major independent review into the private rented sector.

  • Rough road ahead for mortgage firms, says Malone

    31 Jan 2008

    Premier Mortgage Services should have a replacement for managing director John Malone by the end of March with Malone set to become chairman.

  • Row breaks over Kilminster deal

    31 Jan 2008

    Minority shareholders have attacked Kilminster Financial Management for agreeing a deal to transfer most of its advisers to Alpha to Omega, saying it does not represent good value for the company or its shareholders.

  • Rowanmoor launches life assurance scheme with Lutine

    5 Feb 2008

    Rowanmoor Pensions has launched a life assurance scheme which will provide death-in-service benefits for members of its small self-administered schemes or family pension trusts.

  • Royal London new life and pensions business down 1%

    1 Feb 2008

    Royal London’s total new life and pensions business was down 1 per cent to £1,903m in 2007 from £1,919m last year.

  • Sacrifice to gain

    31 Jan 2008

    Gordon Brown ended his tenure as Chancellor with a grandstanding performance at his final Budget speech last March. He finished by saying that the basic rate of income tax would be cut "from 22p down to 20p".

  • ScotLife adds 16 core funds

    31 Jan 2008

    Scottish Life has added four investment partners and 16 funds to its core range.

  • Seminars show the fair way for with-profits

    31 Jan 2008

    Aegon and O&M Systems are running a series of free roadshows for advisers on treating with-profits customers fairly.

  • Shake-up aiming to bolster brand distinctions at Axa and Winterthur

    31 Jan 2008

    Axa Wealth Management and Winterthur have undergone a management restructure with the creation of three new roles.

  • Shock absorbers

    31 Jan 2008

    In recent weeks, analysts have been revising and re-revising down their outlooks for the eurozone economy along with global forecasts as a slew of bad news shocks have been digested by the market. This is a very different situation to that of six months ago and is in contrast to the region's business cycle over the last two years, which has been trending upward.

  • Shopping list

    31 Jan 2008

    The explosion of new lenders and intermediaries in the UK market over the last decade has driven competition, encouraged innovation and delivered huge choice for borrowers. However, as trading conditions tighten, funding remains difficult to secure and volumes shrink, the pressure on some companies may be too much to bear.

  • Six more IFA firms join ranks of Nucleus

    4 Feb 2008

    Six more adviser firms have joined platform Nucleus, taking the total number of businesses with a stake in the adviser-owned wrap to 34.

  • Small firms' relief at 10% rate to £1m

    31 Jan 2008

    Heavy pressure from small businesses has brought and significant concessions from Chancellor Alistair Darling on his capital gains tax plans.

  • Smith & Williamson EIS explores farmshop and dine concept

    31 Jan 2008

    The country food and dining enterprise investment scheme fund aims for growth by investing in up to five out-of town businesses that combine eating out with farm-style food shops.

  • Smooth running of CAR means articulating added value

    31 Jan 2008

    Julian Stevens has invited advisers to provide their views on customer-agreed remuneration following the poor experience he had with a prospective client who wanted to renegotiate his "fee". Julian's letter actually tells us very little about CAR but an awful lot about the need to articulate value rather than price to a client.

  • Standard Life calls for tax axe in bond funds

    31 Jan 2008

    Standard Life says scrapping taxes on gains within insurance bond funds is the best way to stop the damage that Chancellor Alistair Darling's capital gains tax changes would do to the insurance industry.

  • Standard Life grounds airline stocks

    5 Feb 2008

    Standard Life has removed all exposure to airline stocks from its ethical portfolios after receiving strong feedback from investors in its annual ethical survey.

  • Standard Life posts 18 per cent loss in individual pension sales

    30 Jan 2008

    Standard Life's UK life and pension sales increased by 15 per cent to £13,174m in 2007 but individual pension sales fell by 18 per cent to £782m compared with 2006.

  • Steven Crawshaw appointed CML chairman

    31 Jan 2008

    Bradford & Bingley group chief executive Steven Crawshaw has been appointed chairman of the Council of Mortgage Lenders for 2008.

  • Strong sales rise for St James's Place

    31 Jan 2008

    St James's Place saw business figures rise by 23 per cent last year to £428.6m from £349.1m.

  • Suitable case for treatment

    31 Jan 2008

    Perhaps I am just naive. I have always found it quite difficult to understand the need to have an initiative called treating customers fairly. After all, shouldn't service companies being doing that already? Isn't that the core of their business offering?

  • Sweeney to head up Hewitt's corporate pensions team

    1 Feb 2008

    Hewitt Associates is appointing Andrew Sweeney as leader of the corporate pension consulting team in its Leeds office.

  • Swip searches for Euro income

    1 Feb 2008

    Scottish Widows Investment Partnership has established the Swip European income fund to take advantage of the attractive dividends being paid by companies in Europe.

  • Syndicate acquires The Independent Financial Solutions Group

    5 Feb 2008

    Syndicate Asset Management has announced the completion of the final terms of its acquisition of The Independent Financial Solutions Group.

  • Tenet profits grow strongly

    31 Jan 2008

    Tenet Group's pre-tax profits rose by 67 per cent from £2.4m to £4.08m for the year ending September 30, 2007.

  • Tenet's LIME establishes franchise with Point Five Estate Agents

    4 Feb 2008

    Tenet's non-investment network Lifetime Insurance Mortgage Experts has established a franchise with Point Five Estate Agents.

  • The challenge for Trevor Matthews

    1 Feb 2008

    I am going to make a few bold and probably foolhardy predictions. The first is that Trevor Matthews departure from Standard will make next to no difference in the medium and long term to the life office.

  • The RDR Game

    1 Feb 2008

    The Retail Distribution Review (RDR) could produce the most substantial change to the structure of the industry since the demise of the direct sales force. I had a look at some simple game theory – modelling the incentives and penalties for each party to a transaction - in an attempt to understand what is driving it, and what a sustainable outcome might look like.

  • The simple life

    31 Jan 2008

    Planning for the consequences of death makes it easier to deal with the division and transfer of assets among heirs. Financial advisers should be aware of some simple steps that their clients can take.

  • There’s something about pensions

    31 Jan 2008

    The shock news that Tory Shadow pensions minister Nigel Waterson was arrested for assault came hot on the heels of former Work and Pensions Secretary Peter Hain’s resignation.

  • Threadneedle acquires Invesco Perpetual's £470m DC pension business

    4 Feb 2008

    Threadneedle has signed an agreement with Invesco Perpetual to acquire its full service defined contribution pension business with total assets of £470m.

  • Through the keyhole

    31 Jan 2008

    Any IFA who is not already offering business protection insurance is turning their back on a lucrative market that is desperately in need of advice and guidance.

  • Tim McCarron to step down from Fidelity European values trust

    30 Jan 2008

    Fidelity stalwart Tim McCarron is stepping down as manager of the £855m European values fund passing on the management of the vehicle to portfolio manager Sudipto Banerji.

  • Tories label HMRC incompetent after online tax return blunder

    31 Jan 2008

    The Tories have attacked the Government for being incompetent after the HMRC website crashed on the last day online tax returns could be filed.

  • Tories take another look at regulation

    4 Feb 2008

    The Conservative Party has commissioned an independent review body, which includes former FSA chief executive John Tiner, to look into the burden of regulation.

  • Towergate buys Burgess's firm

    31 Jan 2008

    Insurance giant Towergate has strengthened its grip in the protection market by buying payment protection provider Britishinsurance. com.

  • Towry Law aims to treble corporate business in the next ten years

    1 Feb 2008

    Towry Law is planning a drive into the employee benefits market that will see it increase its corporate business from 15 to 50 per cent of revenue within 10 years while moving all clients onto fees.

  • Trackers with no ERCs are mortgage top choice

    31 Jan 2008

    Borrowers have been opting for tracker products with no early redemption penalties in the first month of 2008, says John Charcol.

  • Transact profits take off

    31 Jan 2008

    Transact's profits nearly doubled in its past financial year, allowing its parent company to pay a dividend to shareholders of 600,000.

  • Trustee boards should seek independent advice

    1 Feb 2008

    More than a third of trustee boards do not seek any independent advice on employer covenant issues, according to research from Gazelle Pensions Advisory.

  • U-turn for the worse

    31 Jan 2008

    Last week, I started my look at the proposed changes to the taxation of UK-resident companies which invest in investment-based life insurance policies with an overview of a couple of key issues that have had to be taken into account when advising companies on the investment of funds.

  • Vital role for generic advice in workplace

    31 Jan 2008

    The National Association of Pension Funds says generic financial advice should be delivered through the workplace at an average cost of around £12 per employee per meeting.

  • Voice analysis could hit TCF targets, says Severn

    31 Jan 2008

    The FSA should use voice analysis software in its treating customers fairly phone interviews with small firms to save money and time, according to ex-regulator David Severn.

  • WdB gives long players a spin

    31 Jan 2008

    Williams de Broe has added the Resolution Cartesian UK equity 130/30 fund to three of its four multi-manager funds.

  • Whelan to join Fidelity Intl for European multi-manager

    31 Jan 2008

    Fidelity International has appointed of Dermott Whelan to its multi-manager team as portfolio manager.

  • With-profits bolsters Pru business figures

    31 Jan 2008

    Prudential's UK business figures were flat last year at £897m compared with £900m in 2006.

  • Woodford foresees 10% property fall

    31 Jan 2008

    Invesco Perpetual's Neil Woodford has forecast that house prices will fall by as much as 10 per cent this year.

  • Woolwich - Five Year Fixed Rate

    31 Jan 2008

    WoolwichFive Year Fixed Rate

  • Workplace stress linked to heart disease

    1 Feb 2008

    Stressful jobs are significantly increasing younger employees' chances of coronary heart disease, according to a study reported in the European Heart Journal.

  • Worth the sacrifice

    1 Feb 2008

    From pensions and childcare vouchers to bus passes and staff canteens, salary sacrifice is on the increase - in part because finance directors find it so palatable. Debbie Lovewell finds it a sacrifice worth making

  • Xafinity Consulting appoints head of new healthcare arm

    1 Feb 2008

    Xafinity Consulting has appointed Michael Lewars to its healthcare arm, Xafinity Healthcare.

  • Zurich job for Blair

    31 Jan 2008

    Former Prime Minister Tony Blair has signed an advisory agreement with Zurich Financial Services to provide guidance on international politics.

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