Money Marketing
5 August 2010
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10 firms could quit Openwork to join Carby
5 Aug 2010
Openwork says only 10 more firms are looking to join former chief executive Keith Carby’s new venture.
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3A buyback aims to cut discount
5 August 2010
Fund of hedge funds manager 3A is buying back up to 10 per cent of shares in its Altin fund as part of its discount management programme.
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Advisers say Euro comparison on pension fees is misleading
5 Aug 2010
Advisers slam study claiming that UK pension savers are being hit by huge charges compared with their European counterparts.
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Asset facet
5 August 2010
How asset valuation fits in with calculating capital gains tax
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Aviva adding levy on 21 funds
6 Aug 2010
Aviva Investors is to add a 0.1 per cent charge across a total of 21 funds within its range.
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Aviva protection deal with Santander
5 August 2010
Aviva has signed an exclusive five-year deal with Santander which will see Aviva’s life insurance, critical-illness and income protection products distributed to Santander’s UK customers.
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Bad bank in profit as good bank makes loss
5 August 2010
Northern Rock’s so-called “bad bank” Northern Rock Asset Management has posted a profit of £349.7m for the first half of 2010 while the “good bank” made a loss of £142.6m. Bradford & Bingley also revealed a return to profit.
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Bank problems are systemic failing
5 August 2010
THE EDITOR’S COMMENT OF THE WEEK
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Baring turns to US bonds as gold loses its allure
5 August 2010
The Baring multi-asset fund is holding long-dated US government bonds because it is one of few areas to buck the trend of an increasing correlation between asset classes now that gold no longer works as a diversifier.
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Bright adds three firms
5 Aug 2010
IFA consolidator brings total number of acquisitions to 29.
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Christian leaves HL after 19 years
5 August 2010
Hargreaves Lansdown managing director of Vantage and broking operations Andrew Christian has left the firm after 19 years.
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CII's alternative to exam will cost advisers £2,000
5 Aug 2010
The Chartered Insurance Institute’s QCF level four alternative assessment is likely to cost advisers almost £2,000 - nearly four times the cost of its written exams.
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Conscious decisions
5 August 2010
Improving working practices means being ’consciously competent’ throughout the whole business process
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Cummings calls for IFA unity
5 Aug 2010
Outgoing Aifa director general wants IFAs to show that they are a “core part” of the future of financial services.
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Default retirement age set for scrapheap
5 August 2010
The Government plans to scrap the default retirement age from October next year.
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Discovery completes SL Healthcare buy
5 August 2010
Discovery has completed its acquisition of Standard Life Healthcare, making Discovery-owned PruHealth the fourth-biggest private medical insurer in the UK.
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Dromer takes over ABI committee chair
5 August 2010
The Association of British Insurers has appointed Aviva Investors chief executive Alain Dromer as investment committee chairman, replacing Standard Life chief executive Keith Skeoch.
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Enter Story Headline
5 August 2010
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European star turns
9 Aug 2010
Cherry Reynard says European managers’ skills have been tested in tough conditions
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FCPT shareholders vote against merger
9 Aug 2010
Shareholders in the F&C commercial property trust have voted against its proposed merger with the Ignis Investments’ UK commercial property trust.
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Forum is forewarned
5 Aug 2010
Ian McKenna
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FSA warning to advisers not to dabble in Ucis
5 August 2010
The FSA has warned that unregulated collective investment schemes are using aggressive sales techniques to lure advisers into selling risky products.
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Fund Managers' Views
9 Aug 2010
Lee Jones asks four fund managers to give their outlook for the Europe ex-UK sector
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Geared Tep clients were not told of risk
5 August 2010
The FSA has publicly censured The Garrison Finance Centre Limited for failing to communicate the risks of geared traded endowment policies to their clients, some of whom remortgaged their properties to buy policies.
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Get your annuitisation processes in order
5 Aug 2010
John Greenwood says IFAs could well find themselves in the firing line if the annuity misselling bangwagon starts to rumble.
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Iain Anderson
9 Aug 2010
Director and chief corporate counsel of Cicero Consulting urges IFAs to unite and seize the opportunity to help shape regulatory reform
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India's road to riches
9 Aug 2010
Brian Tora says India could prove to be a core holding for investors.
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Inter-Alliance FSA permissions updated
5 August 2010
The FSA has updated its register to clarify Cyprus-based firm Inter-Alliance Worldnet Insurance Agents and Advisors is not permitted to conduct Sipp business in the UK under its passport.
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Is direct the way forward?
6 Aug 2010
Nic Cicutti asks why a move to direct-only mortgages is taking place and what can be done about it?
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Jupiter duo misjudged effect of stimulus
6 Aug 2010
De Blonay: We underestimated the power of government intervention.
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Keeping advice at the core
5 Aug 2010
Chris Cummings calls on IFAs to come together to prove to the Government that the sector is a “core part” of the future of financial services.
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Kent RBS transfer
5 August 2010
Kent Reliance is to transfer its business, assets and liabilities to a new bank as part of a restructuring deal agreed with private equity firm JC Flowers.
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Keydata Lifemark clients fear waiting years for cash
6 Aug 2010
Investors meet FSA, FSCS and administrators amid concerns that they may not get compensation for several years.
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King leaves Hodge in shake-up
5 August 2010
Hodge Lifetime managing director Jon King is to leave the firm amid a restructure of its equity-release business. The firm will write new equity release at reduced levels and focus on annuities.
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Life in the real savings world
5 August 2010
Half the population is not listening to the message that they must save for their retirement. Lee Jones looks at the findings of a Scottish Widows study
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Loading premiums row splits industry
5 Aug 2010
Advisers and providers hit out at practice of inflating premium rates in order to take a higher commission.
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Long-stop appeal is rejected
5 Aug 2010
The Information Tribunal has dismissed an appeal challenging the FSA’s refusal to disclose the legal advice it received against allowing IFAs to have a 15-year long stop.
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MM Leader: Regulator should have objective of access to advice
5 Aug 2010
CPMA could be the perfect opportunity to revitalise the savings and protection market.
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MMR should hold no fears for IFAs
6 Aug 2010
John Cupis says the mortgage market review will make the intermediary sector even more valuable to consumers and lenders.
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MMTV: Michael Johnson tells IFAs to stop the infighting
6 Aug 2010
Former secretary to the Conservative Party’s economic Competitiveness review says industry is wallowing in vested interests.
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Moneysupermarket flawed research angers brokers
5 August 2010
Brokers have attacked moneysupermarket.com after a press release said borrowers should think twice before using mortgage brokers because 90 per cent of products are now direct-only.
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Nucleus picks Prowse
5 August 2010
Nucleus has appointed former Standard Life head of legal for wrap business Leanne Prowse to the new role of head of legal, risk and compliance.
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OPM sells L&G fund to top up bank holdings
5 August 2010
The OPM fixed-interest fund has sold out of the Legal & General dynamic bond fund to increase its investment-grade corporate bond exposure through top-ups to three existing holdings.
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Out in the open
6 Aug 2010
There is no need to hide behind the cloak of anonymity
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Performance freeze
9 Aug 2010
Chris Salih looks at the response to a call to shun funds with performance fees
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Pittaccio raises £20k in tour de force
5 August 2010
Get an Eiffel: Mark Pittaccio celebrates a towering achieve ment in Paris after ‘suffering in paradise’
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Providers reward IFAs for quality
6 Aug 2010
Product providers are measuring and rewarding factors such as levels of disclosure on business submitted to them by IFAs, according to Pacific Life Re.
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Qrops hit by Australian tax change
5 Aug 2010
Australian government has abolished foreign investment fund regime.
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RBS hit by £5.6m fine
5 August 2010
The FSA has fined Royal Bank of Scotland Group £5.6m for failing to have adequate systems and controls in place to prevent breaches of UK financial sanctions.
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Rethink the RDR
10 Aug 2010
Tom Baigrie calls on the industry to take this “last chance” to consult on the future of financial advice.
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Scheme pensions on rise
5 Aug 2010
Talbot & Muir says it has seen a rise in scheme pension enquiries since the Government announced plans to extend unsecured pensions beyond age 75.
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Schroders doubles retail inflows to £5.1bn
5 Aug 2010
Profit before tax jumps to £188.2m.
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Schroders slammed over Sloane performance fee
6 Aug 2010
Yearsley says fee for emerging markets fund is “outrageous”.
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Skandia pulls out of multi-bonds and CI in RDR move
5 August 2010
Skandia is to stop offering multi-bond and critical-illness policies from the end of September.
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Small wonders
5 August 2010
It is becoming increasingly popular for investors to take the passive route when gaining exposure to equity markets, says Fidelity’s Steve Gibson.
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Spill sell-off could see takeover of BP
6 Aug 2010
Tony Yousefian says BP will eventually be ripe for a takeover.
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State expectations
10 Aug 2010
We must dispel the myth that the welfare state will provide
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Strategic bond choice clouded
6 Aug 2010
Alliance Trust fixed income head warns on lack of transparency in the strategic bond sector.
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'Switch from DB before CPI move'
5 Aug 2010
Experts warn those planning to transfer out of final-salary schems to do so while valuations are still being calculated under RPI.
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Talks on private sector replacing Nest
5 Aug 2010
The Government is talking to providers about the possibility of scrapping Nest and asking the private sector to fill the gap.
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The Chinese way
5 August 2010
The reasons why inflationary repercussions should not be harmful to long-term prospects in China
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Tory horror at IFA in-fighting
6 Aug 2010
Senior Conservative MPs ’appalled at inconsistency, lack of clarity and lack of real focus’.
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Towergate in talks with four firms and unveils toolkit to help IFAs move to fees
5 August 2010
Towergate Financial is in acquisition talks with four companies as it launches a deal to help IFAs develop RDRready businesses.
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Towry Law charging clients to quit
5 August 2010
Towry Law has started applying transfer charges for clients leaving the firm but insists that the charges were always written into Edward Jones’ terms and conditions.
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Towry Law charging clients to quit
5 August 2010
’Appalled at inconsistency, lack of clarity and lack of real focus’
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Treasury getting cold feet over the tax costs of Nest
5 Aug 2010
Altmann warns that the Treasury is concerned that Nest may lose money in the short term because of the increased cost of tax relief.
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Treasury plan would slash DB benefits
5 Aug 2010
Members of final-salary pension schemes could see the benefits they can build up slashed by a third as a result of Government reform plans on annual allowances.
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Views of the low land
6 Aug 2010
Paul Thomas assesses reaction to forecasts of low interest rates continuing for the next three years
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Waterson warns that pensions could lose focus
5 Aug 2010
Waterson says pension reform may stall as Work and Pensions Secretary Iain Duncan Smith and pensions minister Steve Webb are focused on other issues.
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We must solve confusing protection criteria
10 Aug 2010
Alan Lakey says the industry must design a product that provides an anticipated level of protection to consumers.
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Web comments on the article, Barclays has made me a poor pensioner
5 August 2010
The blame lies with whoever it was at Barclays who put the global balanced fund on to the “balanced” panel for the advisers to use.
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Web comments regarding, FSA warns IFAs on unregulated investment schemes
5 August 2010
I have had the dodgiest imaginable Ucis promoted to me by another IFA. I have warned him off in the strongest possible terms but he will not listen. Sooner or later he will end up fined and banned. I know of two other IFAs to whom it has been promoted and they are as stunned as I am that the regulators miss scams like this.Neil Liversidge
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Web comments regarding, Hargreaves says boycott performance fees
5 August 2010
It is all about choice, we could debate whether a Bugatti Veyron supersport is worth £1.4m. No one makes advisers buy funds with a performance fee, it is choice. If the adviser thinks the manager deserves a fee, they will pay, as is proved on numerous hedge funds and Ucits III funds.Neil Bridge
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Will the regulatory landscape change for the better?
9 Aug 2010
Suzanne MacDonald comments on what the industry can expect from the new regulatory structure.
