Money Marketing
30 September 2010
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Ebb and low
30 September 2010
Our panel assess the lowest monthly lending figures for 10 years and the prospect of yet more regulation
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£6K annual pension top-up is needed
30 September 2010
The UK has the biggest pension gap in Europe, standing at £318bn, according to Aviva.
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10 MINUTES WITH...SIMON THORP
4 Oct 2010
James Smith talks to Liontrust fixed income manager Simon Thorp.
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500 More jobs are cut at RBS
30 September 2010
Royal Bank of Scotland has shed a further 500 jobs, with the majority coming from its investment banking division in London.
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95% Of staff want advice on retirement
30 September 2010
Scottish Widows says 95 per cent of employees would like either financial advice or general information on their retirement savings options.
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A site for sore eyes
30 September 2010
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A test for Turner
29 Sep 2010
Former IFA and Ukip Member of the European Parliament Godfrey Bloom challenges FSA chairman Lord Turner to an independent debate.
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Active tense
30 September 2010
Understanding the key differences between passive and active funds is important in a sideways flat market
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Adviser Fund Index
30 September 2010
As the November mid-term congressional elections in the US loom on the horizon, doubts are growing over the early optimism on the country’s recovery.
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Adviser hits out at CII exam journey
1 Oct 2010
Concern that advisers are having to travel long distances to take the Chartered Insurance Institute’s financial planning exam.
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Advisers find L&C middle ground
30 September 2010
London & Capital says the managed portfolios in the middle of its range, with risk profiles three to seven, have been the most popular among advisers.
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Aegon retains protection business
30 September 2010
Aegon UK chief executive Otto Thoresen has stressed his commitment to distributing through intermediaries after revealing that the provider will retain its life insurance and protection offering.
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Alpha test
30 September 2010
The debate between active and passive investments has become more heated in the past decade, with the number of academic studies nearly outnumbering the number of active managers themselves. Indeed, the traditional capital asset pricing model, or single-factor model as it is now commonly known, attempted to identify the alpha empirically as a value that does not change over time while more recent multi-factor models attempt to add additional factors such as value and market momentum factors.
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Anger as Lifemark levy looms for IFAs
30 Sep 2010
Advisers are furious at facing another big Financial Services Compensation Scheme Keydata levy.
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Anxiety syndrome
30 September 2010
Gain the attention of clients by explaining the problems they may face and then take a proactive approach
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Are you going Places?
30 September 2010
Facebook’s new location-based service offers opportunities for IFAs
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Auditor report move will cost up to £2,500
30 September 2010
FSA proposals to improve the quality of auditors’ reports on client assets are set to cost regulated firms between £280 and £2,500 a year.
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Aviva wraps global cities in customer photos
4 Oct 2010
Aviva is to wrap buildings in six cities around with portraits of its clients as part of a global marketing campaign.
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Bean says low rate is to boost spending
30 September 2010
Bank of England deputy governor Charlie Bean has suggested that it makes sense for people to spend as opposed to save at a time of historically low interest rates and says the bank’s current monetary policy aims to encourage such behaviour.
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Brave Newby world
4 Oct 2010
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Brazilian blend
30 September 2010
Elections have shaken the Brazilian market in the past but it is a much changed country that gets ready to go to poll
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Cann is aiming to offer a viable alternative to CII
30 September 2010
Institute of Financial Planning chief executive Nick Cann is aiming to position the IFP as a viable alternative to the Chartered Insurance Institute.
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Cann tells FSA to make plans for RDR catastrophe
1 Oct 2010
IFP boss warns FSA it must develop a “catastrophe strategy” in case it reaches June 2012 and half of advisers are not yet meeting the RDR requirements.
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Cazenove points to risk success of its diversity strategy
30 September 2010
Cazenove says the risk-adjusted returns of its multi-manager diversity fund over the past five years prove that its multi-asset strategy performs throughout an economic cycle.
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'Certify schemes to cut the prospect of levelling down'
30 September 2010
Legal & General wants the Government to rubber-stamp existing corporate pension schemes to reduce the likelihood of employers cutting their pension contributions in line with Nest.
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Chadney Bulgin goes fully fee-based for loan advice
1 Oct 2010
Chadney Bulgin is to become fully fee-based for mortgage advice after a successful six-month trial.
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Check pension input time to avoid charges
30 Sep 2010
Skandia is warning IFAs to review pension input periods to prevent clients being hit with tax charges when pension tax relief rules change.
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Churchlow takes head role at LGIM
30 September 2010
Legal and General Investment Management has appointed Robert Churchlow as head of active equities.
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Commission rethink on protection sales
30 September 2010
The FSA says advisers will not have to disclose commission on protection sales where an adviser charge has been agreed more than a year before the sale.
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Core financial advice has to be face-to-face
30 Sep 2010
Colin Jackson says Lord Newby is mistaken in claiming the future of financial advice is online.
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Curse of the consultants
30 September 2010
Over the years, those of us who are regulated, which I presume is all of us, have frequently been hugely irritated by the arcane, involved, complex and often needlessly bureaucratic systems with which we have had to comply over the years. It has been natural for us to wonder about the mindset of the regulator.
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Dampier dismisses bond bubble fears
1 Oct 2010
Hargreaves Lansdown head of research Mark Dampier says there is no reason for bonds not to conitnue doing well in the short term.
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Daunting task in EU risk rating system
1 Oct 2010
Kira Nickerson says new EU rule changes could see cautious funds placed under the same risk rating as Japanese equity funds.
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Director banned for faking £160k FOS award letter
30 September 2010
The FSA has banned a director from working in financial services after he faked a letter from the Financial Ombudsman Service claiming that a £160,000 award had been made in a client’s favour.
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Don't jeopardise the crucial adviser role
1 Oct 2010
Skandia chief executive Peter Mann says strike the right balance between rules and encouraging saving
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'Don't leave small firms out of auto-enrolment'
30 Sep 2010
Eagle: ‘Labour market will simply restructure itself to avoid paying Nest contributions’
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Double standard
1 Oct 2010
The FSA plans to extend the strict rules on remuneration for banks to investment firms but the same code will not work in both industries, says Derek McGibney, senior consultant at MMS Regulatory Solutions
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Eastern philosophy
4 Oct 2010
Last week, Aberdeen’s Hugh Young was over from Singapore to share his views on Asian markets with investment professionals in London. I have known Hugh for some time and respect his judgement. He was responsible for developing the Aberdeen Asset Management investment process and recently he and his team picked up the outstanding investor accolade at the OBSR Awards.
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Eddie Grant
4 Oct 2010
The new PFS president is intent on raising the image of financial services so it is an attractive career for young people and he believes that advisers will continue to raise the bar in terms of standards and qualifications Interview by Natalie Holt
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Euro rules could dilute RDR
29 Sep 2010
European regulation could “unpick” work done on the RDR, particularly regarding commission, according to Royal London.
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Fears that Scottish Life will trigger endowment claims
30 Sep 2010
Advisers have warned that a let-ter sent by Scottish Life to clients with maturing endowments may trigger claims against them.
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Fee for all
1 Oct 2010
Lee Jones reports on a marked move by mortgage brokers to charging fees for advice
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Fidelity global special sits cuts US weighting and moves into Asia
30 September 2010
Fidelity global special situations fund manager Jorma Korhonen has cut his US weighting and boosted his Asia exposure in a series of bottom-up moves.
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Figure out the FOS
1 Oct 2010
Alan Lakey says advisers have little sympathy for the FOS because it is believed they are under political pressure to uphold complaints to provide consumer confidence.
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'FSA doesn't understand planners'
30 September 2010
The FSA insists on using the language of a product regulator and lacks understanding of how financial planning businesses operate, IFP chief executive Nick Cann told the annual conference last week.
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FSA fines advisers over Lehman
30 September 2010
The FSA has handed out three fines to advisers after they improperly advised clients to invest in structured products backed by Lehman Brothers.
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FSA sends investment IFA to loan seminar
1 Oct 2010
A Cumbria-based IFA has hit out at the FSA for ordering him to attend a day-long seminar that was irrelevant to his firm.
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FSA urged to keep UK competitive
29 Sep 2010
The FSA should avoid rushing through new regulation and instead work with global regulators to maintain the UK’s competitiveness, says The CityUK chief executive Chris Cummings.
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Goodbye to the golden age
30 September 2010
Gregor Watt contrasts the views and figures coming out of the mortgage and property sectors which indicate strongly that the so-called gilded age of homeownership is over with the optimistic opinion of housing minister Grant Shapps who believes we are at the door of the Age of Aspiration
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Goodfellow joins US private equity firm
30 September 2010
US private equity firm JC Flowers has recruited former Skipton Building Society chief executive John Goodfellow.
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Grace under fire
30 Sep 2010
John Greenwood says it is time to end antiquated grace and favour pensions.
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HSBC's Geoghegan to step down
30 September 2010
HSBC chief executive Michael Geoghegan is set to step down at the end of this year after being overlooked for the vacant chairman’s role.
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IFP's YouTube videos mock RDR-bashers
30 September 2010
Two YouTube videos poking fun at adviser firms that are still resistant to the RDR have been produced by the Institute of Financial Planning in a bid to shake up the debate.
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IMF backs UK recovery
30 September 2010
The International Monetary Fund says it is confident that the UK economy is on the mend but is concerned at persistently high inflation.
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It is regulation that is killing off the IFA species
30 September 2010
Essentially, what Liberal Democrat Treasury spokesman Lord Newby is saying is that regulation is killing financial advice, which is true.
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Journalists are qualified to do their job
1 Oct 2010
Nic Cicutti says advisers are wrong to expect journalists to sit the same exams as themselves.
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Just 31% of public say they'll pay for advice
30 September 2010
Less than a third of consumers would be prepared to pay for an hour of financial advice and, of those, over half would only be prepared to pay £50 or less, according to KPMG.
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Keep CTF systems so parents can carry on saving
1 Oct 2010
Shadow Treasury minister David Hanson is calling for the coalition Government to retain the IT systems that enable parents to save for their children through child trust funds.
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Landlords locked out
1 Oct 2010
As Lloyds pulls back on buy-to-let lending, Paul Thomas finds out what this will mean for the market
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Let the right one in
4 Oct 2010
When I mention Europe to investors, most tend to roll their eyes with a mixture of astonishment and shock.
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Life planners aim at lower-income sector
30 Sep 2010
Six well known financial planners are forming a business venture to promote George Kinder’s life planning concept to lower-income groups across the UK.
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Love plea for plan to boost saving
30 Sep 2010
Treasury select committee member criticises Government for not having a plan to increase the rate of saving among the public.
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MM Leader: Leaky logic in gagging press
30 Sep 2010
Last week’s statement from the regulator regarding the interaction between regulated firms and the media is an unnecessarily heavy-handed reaction.
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Morningstar data shows four absolute funds are among worst performers
30 September 2010
Morningstar data shows that four of the 20 worst-performing UK retail funds are absolute return funds.
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N&P to press ahead with bailout
30 Sep 2010
Norwich & Peterborough Building Society chief executive Matthew Bullock is to push ahead with his Lifemark bailout efforts despite the FSCS’s decision to compensate investors.
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New Saga chief Altmann pledges to shake up Omo
30 September 2010
Incoming Saga director general Ros Altmann has vowed to shake up the open market option for the company’s 2.7 million customers.
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Newby wants to make Northern Rock a mutual again
1 Oct 2010
Liberal Democrat Treasury spokesman Lord Newby has called for Northern Rock to be remutualised.
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Nudge, nudge, save some more
30 September 2010
David Thompson, managing director of wealth investments & distribution, Axa Wealth, says a generation facing a later state retirement age need to have their choices set out by making lower-cost advice available to the mass market
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OFT cracks down on debt management
30 September 2010
The Office of Fair Trading has clamped down on the debt management sector by telling 196 firms that they face losing their consumer credit licences unless they take action to comply with its debt management guidance.
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One in 10 Europeans do not trust insurers
30 Sep 2010
European consumers do not buy protection due to an inherent lack of trust in insurance companies.
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Online advice cannot tackle complex issues
5 Oct 2010
Phil Jeynes says Lord Newby’s view that people will not want to spend an hour going through their financial details is wrong.
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OPM reduces risk for fixed-interest fund
30 September 2010
OPM Fund Management has been reducing risk in its fixed-interest fund and increasing the fund’s exposure to non-sterling assets.
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Out of Context
30 September 2010
“The PIIGS are doing what they do best - flying.”
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Paragon sends message with BTL return
30 September 2010
Paragon Group director of mortgages John Heron says the firm’s return to new buy-to-let lending should send out a message for others to return to the BTL market.
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Pensions are much cheaper than pay rises, says Boulding
30 September 2010
Boulding: ‘Employer should spend on paying advisers to promote pension scheme
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Portfolios aid IFAs on ethical exposure
30 September 2010
Fund Intelligence has set up three model portfolios for IFAs to create ethical exposure for their clients.
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Premier shuts Euro fund as range is restructured
30 September 2010
Premier is restructuring its fund range, including eight name changes, a change of mandate and the closure of its European growth fund.The changes will be implemented on October 31 pending an EGM on October 15.
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Pru already using Solvency II on annuities
30 September 2010
Prudential is already factoring the cost of Solvency II into its annuity pricing and claims that other providers are doing the same, causing rates to decrease.
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Real story behind the statistics
30 September 2010
Statistics in isolation can be very misleading but when linked together are most revealing, as follows:1: 2 per cent of complaints come from clients of IFAs (61 per cent from clients of banks) 2: About 45 per cent of IFAs either make a loss or a profit of less than 5 per cent of turnover 3: To gain diploma level will take about 400 hours study. For chartered, it is about 1,000 hours 4: The average person has about £28,000 in their pension at retirement 5: The average person has ...
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Regulator poised to take tough line on ETN trading by DFMs
30 September 2010
Gilchrist: ‘DFMs may find the FSA breathing down their neck’
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Right on track
4 Oct 2010
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Row over FSA changes for quitting companies
30 Sep 2010
FSA denies changing regulatory requirements for firms leaving the industry despite significant changes to its cancellation of the part IV permissions form.
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ScotLife wants regulator to emphasise value of advice
1 Oct 2010
Scottish Life has urged the Government and the regulator to communicate the value of financial advice to consumers.
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Suitability letters failing to meet FSA standards
30 September 2010
A law firm has warned advisers that their suitability letters are failing to meet FSA standards, which could open firms up to the risk of regulatory action.
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Swap shop
4 Oct 2010
Exchange traded funds are gaining traction, says John Kenchington, but a gulf is opening between traditional offerings and their racier synthetic cousins
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Taking advantage of the rental sector
1 Oct 2010
John Malone says that there will be opportunities for mortgage intermediaries as we move to more of a rental culture.
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Target is to double members in three years
30 September 2010
The Institute of Financial Planning hopes to increase its membership by around 50 per cent in the next 12 months and more than double it to 5,000 in the next three years.
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Tenet awarded J05 accreditation
30 September 2010
Tenet has been awarded prior learning accreditation with the Chartered Insurance Institute. The move means that the firm can develop, administer and mark the JO5 exam module.
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The final countdown
30 September 2010
With final-salary pension schemes in terminal decline and more employers looking to initiate member transfers, Tim Sutcliffe, managing director of Pi Financial, says advisers must move fast to open a door on this sector
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The FSA's professional foul
5 Oct 2010
Tom Baigrie says the FSA should not have extended total premium disclosure to all monthly-paid long term cover.
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Too much exposure to UK economy sees BlackRock fund lag
30 September 2010
BlackRock’s UK equity manager Mark Lyttleton has spoken out about the performance lull on his £1.5bn UK dynamic fund, saying his exposure to the UK economy was too high.
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Two-thirds of CFEB's 800 volunteers are IFAs
1 Oct 2010
Two-thirds of the 600 volunteers running the Consumer Financial Education Body’s workplace seminars are IFAs.
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Webb backs Napf on foundation pension
30 September 2010
Pensions minister Steve Webb has slated the state pension system as “hopelessly inadequate” and hailed the National Association of Pension Funds’ idea of a foundation pension.
