Money Marketing
4 March 2010
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£16M losses for PosSol and Origen
4 March 2010
Aegon’s adviser businesses Positive Solutions and Origen racked up losses of £16m in 2009 after a £1m loss in 2008.
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£700K fine sets tone for FSA's Lehman action
3 Mar 2010
Hannah Stodell reports that the first regulatory moveagainst an adviser firm for misselling Lehmanbacked structured products could see £1.8m in redress payments
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£8M homeloan fraudsters jailed
4 March 2010
A gang of fraudsters who conned high-street banks out of almost £8m through fraudulent mortgage applications have been jailed at Southwark Crown Court.
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75% Of IFAs say simplified medical forms could hit enhancement
4 Mar 2010
Nearly three-quarters of advisers believe that simplified medical forms for enhanced annuities could result in a lower enhancement, according to Just Retirement.
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A good year for the rises
8 Mar 2010
10 MINUTES WITH…MARY CHRIS GAY James Smith
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ABI takes on protection push but without ads
4 Mar 2010
The Association of British Insurers’ protection strategy committee has taken up the reins from the failed consumer protection and insurance engagement campaign but it will not feature a media push.
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Adviser Fund Index- A note of caution
4 March 2010
Since its launch in November 2004, the Adviser Fund Index series has experienced some extraordinary market conditions.
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Advisers braced for China correction
5 Mar 2010
China: ‘Could be big hits and misses’
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Aegon property aim is pension funds
4 March 2010
Aegon Asset Management is targeting pension funds with a new value property fund offering an initial projected yield of 7 per cent.
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Aegon rolls out tele-claims service for protection
4 Mar 2010
Aegon is rolling out its tele-claims service for critical illness and terminal illness claims following a successful pilot.
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Ailo will get international IFA views on rule changes
3 Mar 2010
The Association of International Life Offices has commissioned cross-border consultancy and research firm Acuity Consultants to engage with 20 key international advisers for its consultation into regulatory changes.
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All downhill from here?
9 Mar 2010
Bright Grey’s Roger Edwards says advisers need to recognise new ways of doing things or risk losing protection business.
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Apollo rollout meets growing demand for DFM
4 Mar 2010
Apollo Multi-Asset Management believes the growing popularity of discretionary fund management among IFAs as due to perceptions that a DFM is better than a fund of funds.
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At all costs
4 Mar 2010
Thameside’s Tom Kean says a system that deals clearly with all remuneration methods is critical.
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Back to the future
4 March 2010
“While other big economies will become increasingly dominated by talk of exit strategies, there is little chance of any monetary tightening in Japan for the foreseeable future”
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Bank staff tell inquiry of pressure to sell
4 March 2010
Which? Future of banking commission - reports by Lee Jones
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Base line
5 Mar 2010
Sally Laker says anyone considering a tracker needs to make sure they are not just storing up a problem for the future.
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British Friendly picks IP consultant
4 Mar 2010
British Friendly Society is developing a new income protection product and has hired former Pioneer Friendly Society chief executive Paul Protheroe on a consultancy basis to work on the launch.
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Bromley broker banned
4 March 2010
The FSA has banned and fined a Bromley mortgage broker £115,157 for submitting fraudulent applications for himself, his wife and his brother.
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Candles in the wind
5 Mar 2010
Bridgewater’s Peter Welch says power cuts provide an interesting analogy for the home-reversion business.
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Capita set for admin sale as it sets aside £30m for Arch cru
4 March 2010
Capita has revealed that it is in active discussions to sell off part of admin arm Capita Financial Managers as it set aside £30m for potential losses arising from the Arch cru debacle.
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Casting the net
4 Mar 2010
The imminent introduction of an effective 60% rate of tax should prompt advisers to get informed to help clients
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Cause for complaint
4 March 2010
I am sure that many of your readers share my frustrations and irritations with these so-called vulture funds. Our clients are ripped off and treated abominably. (No bonuses on WP, for example) and we are treated with a disregard and distain of truly biblical proportions.
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Chelsea and Yorks £40m losses as merger nears
4 March 2010
Yorkshire Building Society and Chelsea Building Society, which are in the process of merging, have posted combined losses of nearly £40m.Yorkshire made a loss of £12.5m in 2009 compared with losses of £22m for 2008 while Chelsea revealed a loss of £27.1m, compared with a loss of £39m in 2008.
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Chesham deal for Skipton as profits rocket
4 March 2010
Cutter: ‘We remain vigilant’
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Cofunds founder Creak sets up own firm
4 March 2010
Cofunds co-founder and former business development director Andy Creak has set up his own financial services firm.
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Coventry profits more than double
4 March 2010
Coventry Building Society made a profit of £56.2m in 2009, up by 115 per cent on £26.4m in 2008.
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Crouching tiger
5 Mar 2010
The Asia Pacific investment story is dividing opinion, with some pointing to the massive potential of China while others fear a bubble. One thing is certain, says James Smith, the region is changing the global financial landscape
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Dealing with rejection
9 Mar 2010
The critical-illness insurance market is finally managing to shake off a bad reputation based on high numbers of past claims being thrown out on the basis of non-disclosure. Annie Shaw reports
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Don't write off UK stocks
4 Mar 2010
Standard Life’s UK equity unconstrained fund has been picking the winners in the UK market and is focusing on quality firms
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Ex-Lehmans COO for Macquarie EMEA
4 March 2010
Macquarie has appointed former Lehman Brothers chief operating officer Benoit Savoret to head its EMEA operations.
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F&C ups active US exposure to reflect upbeat outlook
4 Mar 2010
F&C’s multi-manager team has trimmed its passive exposure to the US through S&P 500 exchange-traded funds in favour of the actively managed Robeco US premium equities offering.
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Fair and loathing
5 Mar 2010
Alan Lakey ponders whether he has been too “beastly” about the FSA.
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Fidelity's share buying move could stop the stags
5 Mar 2010
Winterflood Securities head of research Simon Elliot says Fidelity’s decision to buy its own shares on an ad hoc basis may prevent investors stagging Anthony Bolton’s China special situations trust.
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Firm spotted bias but failed to stop advisers
4 March 2010
Park Row: FSA’s final notice
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Forestall rule change lets savers protect contributions if they transfer
4 March 2010
The Government has released new regulations which allow savers to protect existing regular contributions if they transfer to another pension scheme under the anti-forestalling rules.
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FSA alert over abroad fraud web grabbers
4 March 2010
FSA: ‘Never deal with unauthorised firms’
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FSA fines set to treble in size as amount is linked to revenue
4 March 2010
The FSA has published a new framework for penalties which will see fines treble in size.
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FSA triple probe for RBS
4 March 2010
Royal Bank of Scotland is facing three separate investigations by the FSA - into its takeover of ABN Amro, compliance with money-laundering regulations and complaint-handling procedures.
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FSA unsettled by life settlement business
3 Mar 2010
Hannah Stodell reports on concerns over high rates of commission
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FSA's Dewar warns of rising retail bond risk
4 March 2010
’Authorised firms will need to fully explain to their retail clients the potential risks associated with buying corporate bonds’
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Hargreaves Lansdown says RDR will not cut Omo take-up
4 Mar 2010
Critics have disputed claims that the retail distribution review will reduce the use of the open market option for annuities.
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Henderson funds deliver best returns for five years
4 March 2010
The Henderson multi-manager funds reported their best sales figures for five years in 2009, with gross sales of more than £175m - up from £11m in 2008.
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IFS leads pleas to scrap tax relief restrictions
4 March 2010
The Institute of Fiscal Studies and PricewaterhouseCoopers have both slammed Chancellor Alistair Darling’s decision to restrict tax relief onpensions for high-earners in their response to the Treasury’s consultation.
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Insynergy in deal on absolute India fund
4 March 2010
Insynergy Investment Management has signed an exclusive investment management agreement with Reliance Capital Asset Management to launch an absolute India fund.
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Invesco puts off split-cap plans
4 March 2010
Invesco Perpetual has shelved plans for a dual-return split-capital investment trust due to lack of demand, uncertain stockmarkets and the forthcoming general election.
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Invesco shake-up for fixed income
4 March 2010
Invesco Perpetual has reshuffled its fixed-income team.
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Isa breakers
8 Mar 2010
As low interest rates fuel a search for income, 2010 is gearing up to be a vintage year for Isas, says Chris Salih
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Jail for gang that targeted high-value Barclays clients
4 March 2010
A gang that targeted high-value bank accounts of Barclays customers and stole almost £1m were jailed at Southwark Crown Court last week.
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JP Morgan investment trust to invest only in Brazil
4 March 2010
JP Morgan Asset Management plans to set up an investment trust investing solely in Brazil. The fund will be managed by Sebastian Luparia and has a target size of £50m.
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King says regulators need to lay down law
4 March 2010
Which? Future of banking commission - reports by Lee Jones
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Label condition
5 Mar 2010
Robert Sinclair says consumers will be left “royally confused” by the array of channels offering them financial products.
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Life and pension profits slump at Lloyds Bank
4 March 2010
Lloyds Banking Group’s UK life, pensions and investments division saw a 25 per cent drop in profits last year to £617m from £826m in 2008.
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Lloyds tops FOS list with over 20,000 complaints
4 March 2010
The number of new complaints received by the Financial Omb-udsman Service against the big banking groups has increased significantly.
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Mandelson wants takeover rules’ shake-up
4 March 2010
Lord Mandelson has called for a shake-up of takeover rules and a greater emphasis on long-term investing from fund managers and other institutional investors.
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Master plan
5 Mar 2010
Ian McKenna
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MD Golder leaves Bankhall
4 March 2010
Bankhall managing director David Golder has left the Sesame Bankhall Group.
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MM Leader: Which? commission should be catalyst to major banks probe
4 Mar 2010
Which?’s future of banking commission continues to expose sales practises the banks would rather the general public remained unaware of.
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Moody's rating warning for insurers over RDR
5 Mar 2010
Insurers which rely too heavily on IFA distribution could see their ratings affected following implementation of the retail distribution review, warns Moody’s.
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Moss takes on interim MD role at Friends
4 March 2010
Friends Provident has appoin-ted Nathan Moss as UK managing director on an interim basis to replace Simon Clamp due to serious illness.
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Mott looks on the bright side
5 Mar 2010
Why, when we are by no means out of the long grass, is Bill Mott is feeling optimistic?
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MP says 2.4m older people get tax raw deal
4 March 2010
Leigh: System for dealing with older people’s tax is too complex
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New Star acquisition helps Henderson back into black
4 March 2010
Henderson Group has unveiled a £15.5m profit for 2009 despite an 8 per cent fall in its recurring profit before tax.
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Now Transact joins the platform price-cutters
4 March 2010
Transact is reducing annual and transaction charges on its wrap.
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Out of context
4 March 2010
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Playing politics?
5 Mar 2010
“What do the Conservatives expect to happen? Simply a shiny new name badge on the front door of the FSA?”
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Pru and LV= top WP fund returns
4 Mar 2010
Prudential’s with-profits fund outperformed its competitors last year, returning 18.7 per cent.
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Pru in UK pledge after Asia buy
4 March 2010
Prudential’s move to buy AIG’s Asian operation this week has left advisers questioning its commitment to the UK market even though Pru’s chief insists it will remain a “key” area.
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RBS beats downbeat forecasts with loss of £3.6bn
4 March 2010
Royal Bank of Scotland produced a better than expected result with a £3.6bn loss for last year.
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Reach a settlement
4 Mar 2010
Aegon’s Rachel Vahey says political parties should work together to find an LTC solution.
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Recovery positions
5 Mar 2010
“For the handful of funds actually named recovery, what exactly is a recovery stock now that consensus seems to agree recovery is under way?”
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Redstone rapped for leaking personal data
4 March 2010
Redstone Mortgages breached the Data Protection Act by accidentally revealing 15,333 customers’ account details.
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Relationship problem
4 March 2010
Most IFAs have taken on board the need for risk profiling of clients. While it is not always possible to put people into neat little categories, nevertheless, it acts as a break against vexatious claims by clients afterwards if the value of their investments fall due to market conditions or does it?
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Resilient results at SJP
4 March 2010
Lloyds-backed distributor St James’s Place made a profit of £363.2m for 2009 on a European embedded value basis after losses of £115.9m in 2008.
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Rising to the challenge
8 Mar 2010
Liontrust’s Anthony Cross says with a little digging, value can still be found.
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Rockingham in Rita risk row
4 Mar 2010
Advisers have raised concerns that Rockingham Retirement has understated the risks of traded life settlements in its Sipp marketing literature.
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Royal Liver faces £7m bill
4 March 2010
Royal Liver: Counting the cost
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Savers give funds a vote of confidence
5 Mar 2010
The IMA’s view
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Sprung is banned from senior roles for five years and fined £49,000
4 March 2010
Sprung: Would have been hit with £70k fine without reduction
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Statistics reveal stronger recovery from recession
4 March 2010
The Office of National Statistics has revised its gross domestic product figures for the fourth quarter 2009, showing growth was 0.3 per cent rather than the 0.1 per cent earlier reported.
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Stewart becomes director of sales
4 March 2010
Hornbuckle Mitchell marketing director Mary Stewart has been appointed director of sales and marketing following the resignation of head of sales for London Elaine Turtle.
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Tax-dodging couple get six-year jail terms
4 March 2010
£4m is syphoned off through false accounting
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The toll truth
4 Mar 2010
Nic Cicutti believes that there are only two options open to those who want to challenge the FSCS decision to levy IFAs £43m on the back of the Keydata collapse.
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Thoresen rebuts commission claims on corporate pensions
4 March 2010
Thoresen: ‘Just a gentle recovery in market activity’
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Tony Stenning
8 Mar 2010
BlackRock’s UK head of retail is a stickler for detail and finding the best solution for his clients.
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Tory anger as Pada set for Nest signing
4 Mar 2010
The Conservatives have attacked Pada’s decision to sign the Nest administration contract before the general election, insisting that the Tories would not be governed by any contract signed by a Government in its “dying days”.
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Towergate says it saved Charcol being thrown on to the FSCS
4 March 2010
Some liabilities have been left behind with the administrator
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Turn for the verse
5 Mar 2010
“A little while back it was Spandau Ballet, then Virgil and now we can add Philip Larkin to our ever growing list of unexpected investment commentators”.
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Turner warns there is no easy prescription for product regulation
3 Mar 2010
The FSA is still grappling with the extent to which product regulation should be introduced.
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Under warranty
5 Mar 2010
Paul Thomas measures industry reaction as Halifax scrap its guarantor mortgage for brokers
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Vanguard looks to boost index trackers
5 Mar 2010
Vanguard is looking to add to its UK range of index trackers with the launch of both an index linked bond and real estate property fund.
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Was it an accident waiting to happen?
4 March 2010
Advisers’ comments on the Park Row debacle
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Weaker house prices as momentum is lost
4 March 2010
House prices fell by 1 per cent in February, the latest Nationwide monthly house price index reveals.
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Weatherston joining Xafinity as programme director
4 Mar 2010
Aegon head of operations for at retirement Nichol Weatherston has been made redundant and is to join Xafinity Paymaster as programme director.
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Whitechurch reduces UK growth holdings to zero
4 Mar 2010
Whitechurch Securities has cut its holding in UK long-only growth equities to zero for the first time within discretionary client portfolios.
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Why we switched platforms to Novia
8 Mar 2010
Wessex Investment Management’s Kevin Bailey says Novia’s platform ticked all his boxes.
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Working agreement
4 March 2010
The distinction between Cobs and Icobs should be abolished. All business is either investment-related or non-investment relatedThis difference, in itself, gives clarity and is very easy to understand.
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Wrap race
4 Mar 2010
Providers must act fast as corporate wraps are there for the taking.
