4 October 2006
Pension firms battling against full-scale probe
The US equity arena has been the graveyard of many an aspiring fund manager. It is notoriously difficult to outperform the US equity market consistently - a fact to which many UK-based US equity managers can testify. The resulting shortage of supply often tempts US-based houses to come over to the UK to try and fill the gap.
The Committee of the Association of Member-Directed Pension Schemes says it is gravely concerned at the FSA's new requirement for IFAs to carry out research into a client’s religious background when advising clients on ASPs.
Offshore business Simon Hildrey says sales are booming after overcoming concerns about a new tax regime
Do you support Prudential's crackdown on churners? Yes: 43%No: 57%
Protection premiums to fall if FSA frees cash reserves for life offices
Now is the time to fight back and stop claim firms walking all over us
Multi-manager round table: reports by Matt Goodburn
It is with no pleasure that Money Marketing this week warns of a 2.8bn contracting-out problem which could hit the industry.
One of the supposed pleasures of being self-employed is that you can organise your own time, rather than stick to office hours. This week, I have plans to change my working week radically. I am going to start at 6.30am with the aim of clocking off at 2pm. This should allow me to power through my work first thing and log off after lunch when my brain slows like a computer with clogged-up memory.
The steep rise in unsecured debt has implications for lenders, especially banks
Fidelity International Limited has appointed Simon Jeffreys as chief administrative officer, responsible for finance, operations and product development.
Royal London's profits from new business grew by £22m in the first six months of this year compared to £37m for the full year in 2005. The provider is now the UK’s largest mutual life and pensions company since Standard Life's demutualisation was completed in July.
How do you solve a problem like IPI asks Defaqto's report on income protection which made for gloomy reading last week.
How advisers can use customer-focused marketing techniques to strengthen client relationships
Merricks says onset of legal claims and judicial reviews 'will not rock the foundations' for the watchdog
The FSA says reading its guidance will save firms time and effort when preparing for regulatory changes.
The line-up of fund managers for Skandia's UK best ideas fund is now unveiled and it is time to see whether this galaxy of stars can shine as brightly as their awesome reputations suggest
Canada Life technical manager Peter Carter says three Finance Acts have failed to provide true simplification of the pension tax regime and many IFAs and consumers are still confused over its workings
Labour conference: Paul McMillan reports from Manchester
Property has become the increasingly favoured asset class for many investors over the last few years and money has been pouring into UK property funds.
Find out how the latest technology can help your business and be in with a chance of winning a car
Helen Pow says educating clients is vitally important for retaining and growing business for advisers
Of all the world's major stockmarkets the only one to fall in real terms from the beginning of this year to September 13 has been Japan which, in terms of the Topix Index, fell by 4 per cent but is now recovering.
Fidelity's new global special situations fund manager has the toughest act in the fund business to follow in taking over from Anthony Bolton but he says he wants to get the message across to investors and advisers that the fund is all about absolute returns and he is not averse to taking substantial risk. Interview by Philip Scott
Law Commission proposals would introduce non-contestability after three years
Offshore mortgages: RBS International chief executive Ian Henderson explains to Philip Scott how he targets potential markets and why borrowers should be careful of speculating in foreign markets despite the lucrative deals often portrayed in TV property programmes
The unloved, the unglamorous and the misunderstood can all be great buying opportunities
Multi-manager round table
Old Mutual Asset Managers has axed five fund managers in an overhaul that will see the group’s quants team take on a greater investment role.
It is difficult to remember the world that existed before the introduction of credit cards in the UK. Barclays was the first and that was over 40 years ago.
Dividend yields are not the only value that an investor might hope for in holding equities as the vast majority of companies earn profits significantly higher than that required to maintain or even increase their dividend payments
Nine tenths of workers approaching retirement are in danger of burning through they savings well before they die, according to new pensions research from Fidelity International.
It now appears that valuing a life policy placed in trust will need to have regard to the premiums paid
A group of former Alexander Forbes directors has set up a professional indemnity brokerage for IFAs.
You will have read about the treating customers fairly initiative, the regulator's big theme of 2006. In September, the FSA published a discussion paper called, The Responsibilities of Providers and Distributors for the Fair Treatment of Customers.
The pressure is being piled on Scottish Widows to join equity- release trade body Safe Home Income Plans. A Money Marketing poll reveals that over two-thirds of our readers think Widows should join. Last month, Widows was ordered to change its Key Facts Illustration by the FSA after faults were uncovered.
About 15 years ago, shortly after becoming a journalist on this newspaper, I had an interview with a life office senior executive.
The sub-prime mortgage market was always expected to be the source of most problems after regulation but the FSA also has misgivings about the prime sector.
Key Retirement Solutions business development director Dean Mirfin says downsizing does not have to be the only route for equity-release clients and he tries to assess the FSA's compliance view on the matter
Transfer incentive business is risky and could come back to haunt advisers
McCarthy surprised many in the industry by seeming to morph into industry analyst Ned Cazalet while making a speech to pension industry leaders at Gleneagles. He called for urgent changes to the financial services distribution model, which he says is failing consumers, providers and advisers.
In last week's column, Mark Harris concluded that the "merger" of Nationwide and Portman would be positive for consumers in the short term but negative in the long term. It is worth returning to the subject as I think it will also be negative for consumers in the short term.
The FSA wants action taken to stem churning but is it always gratuitous?
Going bust is booming, says chm:ping joint managing director Rupert Pybus, and aggressive marketing of individual voluntary agreements is one of the main reasons for hundreds of thousands seeking a way out of debt problems
Here we are in October - that most unpredictable of months. Big stockmarket shakeouts happen in October. The Great Wall Street Crash of 1929, the Yom Kippur war in 1973, Black Monday in 1987 - all happened this month. This is meant to be the season of mists and mellow fruitfulness. It is also the month when seasoned investors are on the lookout for banana skins and the fact that, at the end of September, Wall Street reached its highest levels since 2000 will probably heighten investors' ...
On October 1 the Association of Investment Trust Companies is becoming the Association of Investment Companies.
Poor old Woolwich got a good kicking this week from the Building Societies Association.
The stormy shores of Dorset were not the most inviting of places last week for anyone trying to wring financial services policy details out of David Cameron's cuddly sunshine Tories.
Conservative conference: Paul McMillan reports from Bournemouth
Multi-manager round table: reports by Matt Goodburn
Our panel discuss the range of incentives offered to investment businesses based in Guernsey, Jersey and the Isle of Man
It's in both your interests to bully clients, in the nicest possible way, into having regular financial reviews