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30 July 2008

Money Marketing

  • First State India manager departs

    31 July 2008

    First State Indian subcontinent manager Vijay Tohani is leaving the firm after eight years. The move, revealed on money marketing.co.uk, sees co-manager David Gait become lead manager with Angus Tulloch as co-manager.

  • Supermarket visitors on the rise

    31 July 2008

    Visitors to moneysuper market.com's payment protection channel between January and June are up by 15 per cent on last year. The comparison site also recorded a 10 per cent rise in the number of visitors who bought a product.

  • Swiss Re buys Barclays Life for £753m

    5 August 2008

    Barclays has sold its life assurance arm to Swiss Re for £753m making the bank £330m in profit.

  • 38% fail to meet OMO rules and principles

    31 July 2008

    Nearly 40 per cent of companies that write pension annuity business provide literature to customers approaching retirement that fails to meet Open Market Option rules and principles, according to the FSA.

  • A striking problem

    1 August 2008

    Soaring public sector pension costs will eventually stretch political consensus to breaking point says Stewart Ritchie

  • A&L profits 99 per cent down

    1 August 2008

    Alliance & Leicester has revealed a 99 per cent fall in profits for the first half of this year.

  • Abbey cuts mortgage rates

    30 July 2008

    Abbey is to reduce the rates on its two and three-year fixed rate and tracker deals by up to 0.15 per cent from August 1.

  • Abbey fails to stop FSCS chasing it for alleged precipice bond misselling

    1 August 2008

    Abbey has failed in its attempt to challenge the Financial Services Compensation Scheme’s legal authority to sue the firm for £21m for alleged precipice bond misselling.

  • Abbey in challenge to HBOS as lending soars

    31 July 2008

    Abbey has moved closer to toppling HBOS from its position as the UK's biggest lender after its share of net lending soared to 26 per cent in the first half of 2008.

  • ABI panel says service levels risking industry reputation

    31 July 2008

    The Association of British Insurers' customer impact panel is warning that poor customer service standards at providers could damage the reputation of the whole industry.

  • Absolute return funds take 214m

    31 July 2008

    Investment Management Association figures show the absolute return sector took 214m in June. Equity funds saw redemptions of 371m, while bond inflows stood at 13m.

  • Adviser Fund Index

    31 July 2008

    Old Broad Street Research's decision to remove the ratings of the Credit Suisse region-specific multi-manager range this month has thrown doubt over the value of country-specific fund of funds offerings.

  • Aifa wants to know if

    31 July 2008

    Aifa has called on new FSA managing director of retail markets Jon Pain to demonstrate his affinity with the adviser community, given his strong banking background.

  • All mortgage brokers could be regulated

    31 July 2008

    The FSA is considering regulating every individual mortgage broker and making all IFAs giving mortgage advice subject to a separate approved person status for mortgages.

  • Aon Consulting warns additional DB pension transfer regulation is unnecessary

    4 August 2008

    Additional unnecessary regulation surrounding defined benefit pension transfers could force companies to withdraw the transfer option altogether, according to Aon Consulting.

  • Apcims voices fears over Mifid

    31 July 2008

    The rigorous implementation of Mifid in the UK is putting brokers at a competitive disadvantage compared with their European counterparts, said the Association of Private Client Investment Managers and Stockbrokers at the FSA's meeting last week.

  • Axa & Winterthur Wealth Management unveils new sales team

    30 July 2008

    Axa & Winterthur Wealth Management has announced the appointment of a new senior sales team led by David Thompson, managing director of sales and marketing.

  • Barings Pacific fund converts to ASEAN frontiers fund

    4 August 2008

    Barings has converted its Pacific fund to an Association of South-East Asian nations frontiers fund.

  • British Insurance launches MPPI product

    5 August 2008

    British Insurance has launched a MPPI product for homeowners under shared ownership schemes.

  • Broker Talkback

    31 July 2008

    Do you agree with the FSA's plans to force all mortgage brokers to be regulated individually rather than at a company level?

  • Brokers predict mortgage volumes to fall 6%

    1 August 2008

    Mortgage brokers are predicting that mortgage volumes will fall by around 6 per cent over the next 12 months, according to the latest survey by the Intermediary Mortgage Lenders Association.

  • Brokers urge swift response to Crosby

    31 July 2008

    Mortgage brokers are calling on the Government to take immediate action after Sir James Crosby's preliminary report suggested that the Bank of England's bail-out scheme could be extended to include new mortgages.

  • Canada Life adds 7 new funds to range

    4 August 2008

    Canada Life had added seven new funds to its range through Jupiter and Neptune Investment Management.

  • CAR could trigger pension penalty

    31 July 2008

    Skandia is warning that applying customer-agreed remuneration to pensions could result in an unauthorised payment and has called for clarification from the Revenue and the FSA.

  • Carr leaves Lifesearch for Pru

    5 August 2008

    Lifesearch head of protection strategy Kevin Carr is joining Prudential.

  • Cathedral chief says IFAs should be ready for RDR within two years

    31 July 2008

    Cathedral Financial Management director Timothy Ames believes the retail distribution review transition period should be just two years.

  • Chadborn says persistency is guide to business quality

    31 July 2008

    Advisers are calling on life offices to release protection persistency figures to help drive forward business based on quality rather than quantity.

  • Chadborn wants remuneration rethink for protection business

    31 July 2008

    New remuneration options are needed in the protection market to encourage more IFAs to advise in this area, says CBK principal Peter Chadborn.

  • CII certificate for back-office staff

    31 July 2008

    The Chartered Insurance Institute has set up a new certificate in life and pensions aimed at admin, technical and support staff working in back-office functions at life and pension providers.

  • Cleary believes mortgage market has turned corner

    31 July 2008

    Edeus managing director Alan Cleary believes the UK mortgage market will see a wave of buying activity over the next few months.

  • Clerical error

    31 July 2008

    Have you ever been in the situation where you really wanted to say something that you knew was going to seem incredibly rude but then finally succumbed and let rip?

  • CML says specialist lenders are working hard on arrears

    5 August 2008

    The Council of Mortgage Lenders says it is surprised at the FSA’s observations on specialist lenders, who it says have been working “extremely hard” to manage arrears.

  • Consumers support sales split

    31 July 2008

    Over three-quarters of consumers back the FSA's plans to create a clear differentiation between sales and advice.

  • Contradiction in contracts is threat to trail cash deal

    31 July 2008

    A clash in the business terms of provider and IFA contracts is clouding the remuneration debate, says Whitechurch Network managing director Ian McIver.

  • Coventry BS appoints two non-execs

    31 July 2008

    Coventry Building Society has appointed two new non-executive directors with effect from September 1.

  • Coventry issuing covered bond

    31 July 2008

    Coventry Building Society is making its first move into the covered bond market with a 1.5bn five-year covered bond.

  • Credit Suisse appoints David Norman as CEO asset management UK and Ireland

    5 August 2008

    Credit Suisse has announced the appointment of David Norman to the new position of CEO Asset Management for the UK and Ireland.

  • Creditors' report estimates TMO debts at £1.3m

    31 July 2008

    Creditors of defunct packager The Mortgage Operation stand to lose more than £1.3m.

  • DDM rebrands as Corazon after MBO

    31 July 2008

    Dawnay Day Milroy has completed its management buyout and will now trade as Corazon Capital Management.

  • Decent thoughts

    31 July 2008

    I have spoken at a number of pension seminars this year and have noticed that when other attendees and speakers talk about the 2012 changes, they often say that it will be the first time that every employee in the country will have a decent company pension.

  • Degrees of change

    31 July 2008

    For years, we have relied on anecdotal evidence that certain things are driving change and delivering positive outcomes. Some needed proof or would not believe what they were being told.

  • Demographic novel

    31 July 2008

    A fund with the word "consumer" in its name? I must be mad. With house prices falling rapidly in the UK, Spain and Ireland and looking truly awful in parts of the US, surely the consumer is buried?

  • Dividend approach that yields results

    31 July 2008

    Brewin Dolphin executive chairman Jamie Matheson takes a relatively simple approach to investment.

  • Document replaces menu and IDD

    31 July 2008

    The FSA will introduce a single services and costs disclosure document to replace the menu and initial disclosure document from August. It stresses the documents are only guidance and advisers can use the old documents until August 2009.

  • Don't bank on advice

    31 July 2008

    One of the concerns over the retail distribution review is that some financial advisers will be nothing more than salespeople or the type of advisers that are often found working in banks and building societies.

  • Dreaming of dividends

    31 July 2008

    Recent meetings at Martin Currie have focused on the big issues of our times - stagflation, monetary policy, banking crisis and recession. I often find that my mind is wandering and my eyes are staring out of the window. When that happens, I try and focus on what really matters for investors. No matter what the topic of discussion, my colleagues know what I am thinking about - dividends.

  • EEA Life Settlements fund hits £100m

    31 July 2008

    Equity, Environmental and Alternative investment group’s Life Settlements Fund has broken through the £100m mark after delivering two and a half years of consecutive positive monthly returns.

  • Efficiency drive

    31 July 2008

    With the UK stockmarket down by almost 20 per cent since its October peak, investors are increasingly focusing on capital preservation, particularly conservatively managed funds.

  • Exclusives return to market

    31 July 2008

    Growing numbers of lenders are offering exclusive deals through intermediaries, says London & Country mortgage specialist Richard Morea.

  • Expats in India are top savers

    31 July 2008

    Expatriates in India are saving or investing more than expats in any other country, says HSBC Bank International.

  • F&C appoints structured solutions specialist

    5 August 2008

    F&C has appointed Jeroen Wilbrink as product specialist for structured solutions to its asset liability management and insurance team.

  • F&C identifies three themes for inflationary markets

    31 July 2008

    Fund of hedge funds manager F&C Partners is weighing up investment opportunities in hedge funds that are benefiting from rising inflation.

  • First ETF to cover the Gulf

    31 July 2008

    Lyxor Asset Management if offering the first ETF to target the Gulf region with Kuwait-based Coast Investment & Development.

  • First State fund moves to Noble

    31 July 2008

    Noble Fund Managers has taken on the management of First State's British smaller companies fund.

  • Friends Provident International expands offshore team

    4 August 2008

    Friends Provident International has appointed Peter Drummond as international strategic business development and global account manager.

  • FSA considering enforcement action against several lenders

    5 August 2008

    The FSA is considering referring several lending firms to enforcement and has asked others to undertake remedial work following its review of responsible lending.

  • FSA finds no manipulation in HBOS rumours

    1 August 2008

    The FSA says it has not uncovered evidence that market rumours surrounding HBOS were spread as part of a concerted attempt by individuals to profit by manipulating the share price.

  • FSA fines Liv Vic £840,000 for PPI failings

    30 July 2008

    The FSA has fined Liverpool Victoria Banking Services Ltd £840,000 for serious failings in the sale of single premium PPI.

  • FSA makes arrests after insider swoop

    31 July 2008

    The FSA week arrested eight people and executed search warrants across London and the South-east in a probe into insider dealing rings. The operation involved 40 FSA staff, assisted by officers from City of London Police.

  • FSA refers seven mortgage advisers for enforcement

    5 August 2008

    Seven small mortgage advisors have been referred to enforcement and a further 23 are required to review customer files following the FSA’s second Quality of Advice review.

  • FSCS hits £1bn in compensation

    31 July 2008

    The Financial Services Compensation Scheme has passed the £1bn mark in compensation paid. The 2007/08 annual report shows it paid out over £82m last year bringing the total since 2001 to £1.04bn.

  • Fund superstars continue to feel the heat

    30 July 2008

    The Principal income study has always garnered its fair share of headlines in the press and the latest issue is no exception as again two of the UK equity income sectors biggest superstars were omitted from its highly regarded white list.

  • FundsNetwork adds BlackRock fund to range

    5 August 2008

    FundsNetwork has added the BlackRock UK absolute alpha life fund to its investment bond range.

  • FundsNetwork launches Sipp by-pass trust

    1 August 2008

    Fidelity FundsNetwork has launched a Sipp by-pass trust to help advisers cut IHT liabilities for their clients.

  • Gartmore plans absolute return offering

    4 August 2008

    Gartmore is to launch a multi-manager absolute return fund following a strategic review of the five-strong range.

  • Goodfellow to leave Skipton

    31 July 2008

    Skipton Building Society chief executive John Goodfellow is to leave at the end of the year. Group corporate development director David Cutter will become chief executive.

  • Government figures reveal the personal account losers

    31 July 2008

    The Government's own figures have revealed that people with less than 20 years until retirement in 2012 on salaries of up to £25,000 will see negligible benefits from personal accounts.

  • Government injects £3bn more into the Rock to ensure it meets capital requirements

    5 August 2008

    The Government has had to pump another £3bn into Northern Rock to shore up the lender after it announced losses of £585m for the first half of 2008.

  • HBOS sees net mortgage lending drop to 7%

    31 July 2008

    HBOS has seen its net mortgage lending drop to 7 per cent in the first half of 2008 as it also reveals its profit after tax plummeted 56 per cent to £950m from £2,139m last year.

  • Hendersons Pattullo welcomes IMA strategic bond sector

    1 August 2008

    Hendersons fixed income manager John Pattullo has welcomed the Investment Management Associations decision to launch a strategic bond fund sector.

  • Historic events

    31 July 2008

    In this last in the series on the taxation of investment life insurance policies effected by companies, I would like to look specifically at how the new loan relationship rules are applied when the investing company adopts an historic cost basis of accounting in respect of the investment. I looked last week at how the fair value basis operates. The Finance Act anticipates both bases.

  • HMRC liable to millions in VAT repayments for VCTs, says PKF

    30 July 2008

    HM Revenue & Customs could be liable to millions of pounds in repayments after ruling that fund management of venture capital trusts should have been exempt from VAT since 1990, says accountants PKF.

  • House prices fall 1.7% in July, says Nationwide

    31 July 2008

    House prices fell by 1.7 per cent in July, bringing the annual fall to 8.1 per cent, according to Nationwide Building Society's latest house price survey.

  • House prices forecast to rise 25 percent

    31 July 2008

    The average house price in England will increase by 25 per cent over the next five years, claims the Nat-ional Housing Federation.

  • I have a theme

    31 July 2008

    For years, we have had a plethora of me-too funds with little thinking outside the box. The search for something different has been a poor hunting ground. Yes, we have had the gold & general funds. Global privatisation and global basics were novelties. True, dotcom was a disaster but was merely an example of lemming-like me-too-ism.

  • IFA Life helps small firms get media coverage

    31 July 2008

    IFA Life is starting a free service to help IFA firms post press releases online and generate a media profile.

  • IFAs earn their fees

    31 July 2008

    I read with some irritation Peter Amott's diatribe about the state of the financial services industry. We are all aware that the past 20 years of regulation have cost a fortune while its effectiveness has been decidedly patchy.

  • IMLA refutes FSA attack on specialist lenders' arrears management

    5 August 2008

    The Intermediary Lenders Association has strongly refuted an FSA accusation that specialist lenders are taking a one size fits all approach to mortgage arrears.

  • Income fund set for Henderson

    31 July 2008

    Henderson Global Investors is to launch an absolute return fixed income offering early next month.

  • Indian stock market volatility masks investment opportunities, says JPMAM

    4 August 2008

    Current stock market activity in India is not reflecting the investment opportunities in the region, says JPMorgan Indian Investment Trust manager Ted Pulling.

  • iShares launches two new fixed income funds

    4 August 2008

    iShares has added two new ETFs to its fixed income range.

  • JPMAM’s Henderson says commodity run is sustainable for the long term

    4 August 2008

    JPMorgan natural resources manager Ian Henderson says he sees no reason why commodities should not see the same growth in the next 10 years as they have seen in the previous 10.

  • Judgement day on way as value starts to show

    31 July 2008

    M&G cautious multi-asset fund manager David Jane says he sees opportunities in US technology and has increased his global exposure to telecoms, defensive stocks and property.

  • Just Retirement sees 12.8 per cent increase in sales to £763.5m

    1 August 2008

    Just Retirement has reported a 12.8 per cent increase in group sales for the full year ending June 30 to £763.5m.

  • Kenmir quits FSA after 20 years in regulation

    31 July 2008

    David Kenmir is to leave the FSA after over 20 years spent in financial services regulation.

  • L&G launches individual pension plan

    4 August 2008

    Legal & General has launched a new individual pension plan.

  • L&G profits up 6 per cent

    5 August 2008

    Legal & General has revealed a 6 per cent rise in operating profits for the first half of the year, from £589m to £626m on an EEV basis.

  • Lifetime mortgages on the increase

    4 August 2008

    Over half of advisers dealing in lifetime mortgages have seen an increase in business since August 2007, according to Mortgage Express research.

  • Lloyd’s hires first country manager for Ireland

    31 July 2008

    Lloyd’s, the insurer has appointed Eamonn Egan as its first country manager for Ireland.

  • Lloyds TSB profit before tax plummets 70%

    30 July 2008

    Lloyds TSB has seen its statutory profit before tax plummet by 70 per cent to £599m in the first half of the year, down from £1,993m at the same period last year.

  • Mandrake hits back at censure from FSA

    31 July 2008

    Mandrake Associates Limited has defended itself against the FSA's public censure over complaint handling failures, claiming it was acting in clients' best interests and has saved the Financial Services Compensation Scheme millions of pounds.

  • Matthews says Friends will stick with Sesame

    30 July 2008

    There is no question of Friends Provident disposing of Sesame, the insurer’s chief executive officer Trevor Matthews made clear as he took up his new role today.

  • Misys saw £700,000 profit from Sesame sale

    31 July 2008

    Misys made a £700,000 profit from the disposal of Sesame last year, according to its latest results.

  • Morgan urges IMA to be flexible on yields

    31 July 2008

    JP Morgan head of UK retail sales Michael Parsons believes the Investment Management Association's new UK equity income requirements should be flexible in the current volatile market conditions.

  • Mortgageforce aiming to add 50 brokers with West Brom backing

    31 July 2008

    Mortgageforce says it plans to increase broker numbers by around 30 per cent thanks to strong backing from parent company West Bromwich Building Society.

  • Neptune on a wave

    31 July 2008

    The US stockmarket has performed much worse than the other major stockmarkets over the last three years and this year the S&P 500 is already down by around 15 per cent to the start of July.

  • Networking site lets IFAs share ideas

    31 July 2008

    A new networking site is aiming to help financial services professionals, including IFAs, mortgage brokers and financial planners, to grow and develop their businesses.

  • New Star hires associate director in Hong Kong

    4 August 2008

    New Star International has appointed Kanise Chan as associate director of the Hong Kong office.

  • Newcastle to put mortgages on IFA platform

    31 July 2008

    Newcastle Building Society is to use its new intermediary platform to provide point-of-sale mortgage offers to brokers.

  • NLA calls for code of practice feedback

    4 August 2008

    Landlords involved in the sale and rent back market are being encouraged to share their views on the National Landlords Association's draft code of practice.

  • Normal service will resume

    31 July 2008

    It is clear that Abbey has finally overhauled the mighty HBOS in share of the mortgage market. In happier times, brokers would have been more than pleased to see this happen as it would have meant an injection of competition and a big challenge to the presumed market number one.

  • Northern Rock to cut 1,300 jobs

    30 July 2008

    Northern Rock has confirmed today it will be cutting around 1,300 jobs through redundancy.

  • Norwich Union agrees £1bn reattribution with Spottiswoode

    30 July 2008

    Norwich Union has agreed a £1bn reattribution offer with policyholder advocate Clare Spottiswoode after long-running negotiations.

  • Norwich Union to outsource its wrap to Scottish Friendly

    30 July 2008

    Norwich Union is to wash its hands of the administration of its loss making Lifetime wrap and will migrate clients onto Scottish Friendly’s platform.

  • Now networks feel the pinch

    31 July 2008

    Mortgage networks are the latest section of the industry to suffer due to market conditions.

  • NU enhances equity release proposition

    4 August 2008

    Norwich Union is making improvements to its lifetime mortgage equity release proposition.

  • NU writes down £84m on outsourcing Lifetime to Scottish Friendly

    1 August 2008

    The cost of outsourcing Norwich Union’s wrap to Scottish Friendly is likely to be £84m, parent company Aviva revealed in its interim results this week.

  • Nucleus mission

    31 July 2008

    I first became convinced about the power of a wrap platform when Transact was demonstrated to me in 2000. It seemed to make sense that this would be how we could effectively manage our clients' assets in future. The only question I had was whether clients would be prepared to pay for the privilege of wrapping up their investments.

  • OBSR gives A ratings to Fidelity special sits duo

    31 July 2008

    Old Broad Street Research has awarded A ratings to Fidelity's two special situations funds.

  • Octopus to take over management of Close Investments AIM VCTs

    30 July 2008

    Octopus Investments has announced it is taking over the management of all three of the AIM VCTs managed by Close Investments, representing around £65m of assets.

  • OFT launches irresponsible lending consultation

    1 August 2008

    The OFT has launched a public consultation on the scope of its project looking at irresponsible lending in UK consumer credit markets.

  • Online sales see Bupa up by 39 percent

    31 July 2008

    Bupa's new protection business leapt by 39 per cent in the first half of this year.

  • Openwork appoints Hornbuckle Mitchell as second Sipp provider

    4 August 2008

    Openwork has appointed self-directed pension specialist Hornbuckle Mitchell to provide self invested personal pension services for its investors.

  • Out with the old, in with the banker

    4 August 2008

    Praise, speculation and conspiracy theories kicked off last week following the announcement that Jon Pain will take over as managing director of retail markets at the FSA.

  • Package deal

    31 July 2008

    I have just joined a new employer and have been given a 50-page explanation of what benefits are on offer to me. Can you briefly explain the main benefits that I should be looking out for?

  • Paraplanner service launches awards to boost industry recognition

    1 August 2008

    The Paraplanner.com has launched the Paraplanner of The Year awards in association with the Institute of Financial Planning.

  • Philip Rose's Chandos Rose to merge with Chadney Bulgin

    1 August 2008

  • Pink Home Loans to offer bridging finance

    31 July 2008

    Pink Home Loans has entered the bridging finance mortgage sector.

  • Platforms pose cost problem

    31 July 2008

    Institute of Financial Planning chief executive Nick Cann has warned that advisers who move clients on to platforms without improving service could face the wrath of the FSA.

  • Prestbury clash over restructure

    31 July 2008

    Prestbury shareholders are demanding the removal of chief executive Lee Birkett and his mother from the board after they refused to agree to a restructure proposed by the firm's chairman, Tory Shadow minister Francis Maude.

  • Private function for so solid Cru

    31 July 2008

    Cru Investment Management says sales of its multi-mana- ger portfolios have increased on the back of strong performance driven by investment in private companies.

  • Product matters

    31 July 2008

    True innovation is a rarity in the staid world of health protection, with the vast majority of so-called new products being a rehash of existing underachieving plans.

  • Prudential sees 9% increase in UK operating profit to £504m

    31 July 2008

    Prudential has reported a 9 per cent year-on-year increase in UK operating profits to £504m for the first half of this year.

  • RBS launches two year fix without arrangement fee

    1 August 2008

    RBS Intermediary Partners is launching a new two year fixed rate deal to its First Active remortgage range.

  • Resolution plans onshore fund versions

    31 July 2008

    Resolution Asset Management is to launch onshore versions of Hexam's global emerging markets and Emerging Europe funds.

  • Resolution to launch absolute return fund through Argonaut

    1 August 2008

    Resolution is to launch a European absolute alpha fund within its Argonaut joint-venture.

  • Results season begins

    31 July 2008

    Aviva stole the limelight this week kicking off the life sector’s interim reporting season with news that it has finally reached a £1bn reattribution deal with policyholder advocate Clare Spottiswoode.

  • Ricky Okey

    31 July 2008

    In every financial market, there are some companies that fare better than others. Abbey for Intermediaries managing director Ricky Okey is upbeat about the business's prospects despite the mortgage market facing its biggest crisis since the early 1990s crash. "We are lending and we have an appetite to lend," says Okey.

  • Risk business

    31 July 2008

    I find myself increasingly looking forward to my summer holiday, with a chance to recharge the batteries and get away from the credit crunch, the mortgage market, falling client valuations and turmoil in the markets. What a tough year we have had so far.

  • RLAM expands fixed interest and quant teams

    5 August 2008

    Royal London Asset Management has made two new appointments to its fixed interest and quant teams.

  • Rock failures break FSA's budget and bring fee rise

    31 July 2008

    Measures to ensure the FSA does not repeat its failures over Northern Rock will break the regulator's budget for this year and look likely to lead to a significant rise in fees in 2009 and 2010.

  • Royal Liver plans new life cover

    31 July 2008

    Royal Liver has unveiled plans to launch a product similar to the Fortis' real life cover. It will be working with Lifesearch to create its own version of the product.

  • Royal London hires portfolio risk manager

    31 July 2008

    Royal London Asset Management has appointed Carola Lawton-Browne to its investment team as portfolio risk manager.

  • S&P fund ratings now on Trustnet

    31 July 2008

    Standard & Poor's fund management ratings are now available on Trustnet.

  • Schroders maximiser manager joins Insight

    31 July 2008

    Insight Investments has appointed Richard Lloyd as head of structured solutions.

  • Scot Wids reports 53 per cent drop in IFA investment and saving sales

    30 July 2008

    Scottish Widows has reported a 53 per cent drop in IFA sales of savings and investment products driven partly by the changes to Capital Gains Tax announced in April.

  • Scottish Widows set to lift property fund restrictions

    30 July 2008

    Scottish Widows has announced it is to lift property fund restrictions imposed on certain transactions out of its life and pension property funds.

  • Select and protect

    31 July 2008

    When it comes to innovative use of technology, especially in the protection market, few companies have done more than Friends Provident.

  • Silence on Equitable report

    31 July 2008

    The FSA refused to answer questions about the Parliamentary Ombudsman's damning Equitable Life report at the meeting, citing legal constraints as the reason for the silence.

  • Simplyhealth rebrands

    30 July 2008

    Simplyhealth Group has unveiled its plans to integrate its trading divisions under one brand name, Simplyhealth.

  • Skandia keeps Whittaker in best ideas funds

    31 July 2008

    Skandia Investment Management is to keep New Star fund manager Stephen Whittaker on its best idea funds despite New Star replacing him on its UK equity income fund.

  • Skipton BS pre-tax profit drops to £44m

    31 July 2008

    Skipton Building Society has reported a pre-tax profit of £44.1m in the first six months of the year, a drop from £107.6m in the first half of 2007.

  • Spot the Dog shows more than one in eight funds underperforming

    4 August 2008

    More than one in eight funds is underperforming according to Bestinvest’s latest Spot the Dog list.

  • St James's Place profits fall by 5 percent

    31 July 2008

    St James Place has seen a 5 per cent fall in group operating profits for the first half of this year to 114.2m from 120.7m.

  • Standing innovation

    31 July 2008

    Protection products are like buses, you wait for ages and then three come along at once, says industry guru Peter Le Beau about the recent spate of innovative products.

  • Stark realities

    31 July 2008

    Ordinarily he was insane but he had lucid moments when he was merely stupid. This wise observation from Heinriche Heine surfaced as I read Nic Cicutti's recent diatribe against advisers Heather Moor & Edgecomb.

  • Sunny side up

    31 July 2008

    Summer should be filled with sunshine, frivolity and the prospect of holidays but this year the somewhat inclement British weather has been coupled with rising fuel and food prices and talk of a recession and housing market crash.

  • Swings and roundabouts

    31 July 2008

    Have we seen the worst? There is evidence of bottom-fishing on bad days but some sectors have been so comprehensively slammed that real value looks to have emerged.

  • SWIP appoints managing director for Europe

    5 August 2008

    Scottish Widows Investment Partnership has appointed Christian Elsmark as managing director of Europe.

  • Syndicate acquires two additional advice firms

    5 August 2008

    Syndicate Asset Management has announced the acquisition of two financial advice firms, St Andrews Asset Management and Pagan Osborne Independent Financial Advisers.

  • T Bailey disputes low-cost claims for ETFs

    31 July 2008

    T Bailey says exchange traded funds can be useful in multi-manager portfolios but are not as cheap as people think.

  • Take your partners

    31 July 2008

    The FSA clampdown on mortgage miscreants continues apace. None of us should be surprised as we have all seen it coming. The FSA made it clear at the end of last year that mortgage advisers can expect further hefty penalties if they step out of line and have reinforced that pledge over recent days. They have also confirmed that there were further enforcement actions in the pipeline and more investigations under way, with heavier penalties being issued where appropriate as a "credible deterrent ..

  • Target market

    31 July 2008

    UK equity income managers face a quandary. The past 12 months have arguably hit the sector harder than any other, especially where funds have exposure to banks, with the average fund losing 23.2 per cent.

  • TCF weighs heavy on firms

    31 July 2008

    The treating customers fairly regime must be overhauled as it is placing too heavy a burden on firms as well as taking up too much of the regulator's res-ources, says the Financial Services Practitioner Panel.

  • Technology company Logic 100 joins Aifa

    4 August 2008

    The Association of Independent Financial Advisers has announced that Logic 100 has become an affiliate member.

  • Thames River seeking UK opportunity

    31 July 2008

    Thames River investment director Michael Warren says the firm may look beyond the UK equity income sector as part of its planned move into the mainstream market.

  • The case in point

    31 July 2008

    FSA director of enforcement Margaret Cole noted recently that if firms settling cases stated publicly they did so for commercial reasons, the FSA might rethink the settlement process, saying those behaving in this way are guilty of "sour grapes".

  • The joke's on us

    31 July 2008

    Sir Callum McCarthy was asked last week whether his views had changed on the retail distribution review since he made his speech at Gleneagles in late 2006. He said the wider world felt a very changed place since he made that speech and that he had thought it important back then to focus on whether the business model served the interests of the industry and its consumers but that there was still no definitive answer to that question.

  • Towergate acquires M2 Financial

    5 August 2008

    Towergate Finanacial has announced the acquistion of Nottingham-based M2 Financial.

  • UBS and Cazenove staff among those arrested for insider dealing

    30 July 2008

    Employees of UBS and JPMorgan Cazenove were among eight individuals arrested yesterday by the police and the FSA following allegations of insider dealings.

  • UKU appoints sales and marketing director

    4 August 2008

    Alastair Harmby is to join UK Underwriting Ltd as sales and marketing director.

  • Verdin quits Direct Life in switch to join NU

    31 July 2008

    Direct Life and Pensions Services sales and marketing director Richard Verdin is leaving the firm after six years to join Norwich Union Life in September as director of marketing, protection.

  • Which? report shows divide between sales and advice

    31 July 2008

    Which? research which highlighted major shortcomings in the mortgage advice given to consumers has been welcomed by the Association of Mortgage Intermediaries for showing that independent brokers give the best service.

  • Who’s the new mortgage king?

    1 August 2008

    This week has seen the start of the half year results period for banks as well as the start of the battle for who will be the new king of the mortgage market.

  • Whole of market is not a pretence

    31 July 2008

    Regarding the letter from Peter Amott, of course, Ken Davy is right to say best advice is independent. How can it possibly be as good when you have a restricted list to choose from?

  • Wrap to take 60 percent of business

    31 July 2008

    Nucleus chief executive David Ferguson predicts that over 60 per cent of life, pension and investment business will be transacted on platforms by 2012.

  • Yousefi believes that a bank will swoop to buy B&B

    31 July 2008

    Bank of Ireland head of marketing Mehrdad Yousefi believes that Bradford & Bingley could be bought by HSBC or Lloyds TSB.

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