5 September 2007
I have been spending time, probably too much time, dissecting the propositions in the RDR document.
Aifa has attacked the lack of logic behind the Retail Distribution Review and reaffirmed that whole of market advice is an essential condition for independence.
Aifa has warned advisers with clients residing abroad they must ensure they are operating within the confines of Mifid after receiving confirmation on cross-border definitions from the FSA.
'Lenders will be watching to make sure they will not be the only one on the merry-go-round'
Tanya Powley analyses whether securitisation lenders blocking business in the sub-prime aftermath will see BDMs move to balance-sheet firms
Will there be 'a dead cat bounce' in protection sales?
As the OECD warns of a potential economic slowdown following the crisis in the subprime market, F&C says opportunities are emerging in credit.
The founder of True Potential postponed retirement plans to set up a company which aims to deliver an electronic platform which IFAs can use to run their whole business. Interview by Gregor Watt
In this week's article, I am returning to a subject which is very close to my heart, career and IFA business - pension transfers.
I have just become a partner in a law firm and in my new role I have been asked to review a number of trusts that the firm acts for. In a number of these cases, one of our senior partners is a trustee and the trust monies are managed by a local stockbroker, with whom the partner has had a good personal relationship over many years. These trusts do not appear to be actively reviewed and I am concerned that we may not be complying with the requirements of the Trustee Act 2000. What can I ...
Colin Sloss, head of business developers at The Exchange, says advisers should have few problems in adapting and thriving under the retail distribution review plans
Edeus has told Money Marketing that its funding lines are secure stating that its 24 month contract with Merrill Lynch is not up for renegotiation until October 2008.
Edeus has repriced its adverse product range after it sent out an email to brokers yesterday alerting them that it would be withdrawing its current adverse range to reprice with rises around 65 basis points.
It would be true to say that over the years I have had the odd run-in with Evan Owen of the IFA Defence Union. Two or three years ago, I wrote some pretty uncomplimentary things about him.
'There is a clear lack of multi-asset portfolios and most pension funds are far from balanced'
Aegon UK has announced the appointments of Feilim Mackle as director of individual business and Steve Clode as the director of marketing and customer strategy.
Paul Kennedy, director of trusts & tax planning solutions at FundsNetwork, sets out the calculations that need to be made on discounted gift trusts
Will Henley says despite predictions from some analysts of sharp falls in property prices, equity-release advisers believe it is dangerous to speculate on future trends and prefer to focus on meeting clients' needs
Friends Provident and Resolution have announced a change to the legal structure for the proposed merger and creation of Friends Financial Group plc.
The FSA announced last week it would be calling its expensive lawyers into action to battle against the Information Commissioner's decision to force it to reveal the names of 12 providers who misused Lautro projections.
The FSA is appealing to the Information Tribunal against the Information Commissioner's decision to make it name and shame the 12 endowment mortgage providers which misused Lautro projections in setting premiums.
Mortgage guru Stephen Knight is expected to launch a lender in 2008/9 with sources indicating that former GMAC-RFC managing director of operations Barry Searle will join his previous boss in the new venture.
Goodman Property Investors has announced that its eurozone fund of funds has raised over €250m since launch just over a year ago.
Old Mutual Asset Managers (OMAM) bond manager Chris Higham is leaving the firm to rejoin Morley Asset Management.
iimia has announced a proposed merger with fund management firm MitonOptimal for a total of £18.6m.
Confusion over the application of the law of insurable interest makes early reform highly desirable
Legal and General has kicked up a storm by launching a joint pilot study with Hargreaves Lansdown to look into the benefits of using customer postcodes as a risk factor in determining annuity rates.
Standard Asset Management says that while it does not foresee a US or global recession, the weakness in financial markets has damaged investor risk appetite.
Multi-manager Lawrence House is focusing its cautious managed fund on equity income funds and fixed-interest funds that invest in higher-quality bonds, including gilts and index-linked gilts.
Turbulence in the financial markets has entered its third phase, with investors trying to understand the economic and profit consequences of the higher cost of capital and tighter credit conditions, says BlackRock.
ABN AMRO Asset Management claims market volatility has historically produced attractive investment opportunities.
Midas Capital has used the recent stockmarket falls to feed money back into markets after going underweight in UK equities for the first time in three years as a result of recent volatility.
Bestinvest head of communications Justin Modray has left the firm after four years.
This week saw the first UK best ideas vehicle hit its first anniversary as Rensburg's UK manager focus trust recorded first quartile performance.
Investec Bank Switzerland has announced the appointment of Oliver Betz as the bank’s new general manager.
JM Finn is opening up its very successful global opportunities fund to the wider market and it is focused intently on the epoch-making shift of economic power from the West to fast-growing emerging countries
Sub-prime meltdown seems to be the focus of the news at the moment. It is worth having a look at some of the fundamentals and what is likely to happen when, as it certainly will, a new stability appears in the marketplace.
Moneycorp is predicting a surge of UK residents buying overseas property in the coming months.
OPM Fund Management says it is experiencing problems finding a benchmark for its property fund of funds because it combines a range of property-related investments including property funds, listed securities and Reits.
London-based fund of hedge funds manager P-Solve Alternative Investments has added its fund of hedge funds on the Nucleus financial IFA platform.
Why are performance figures left out of group pernsion statements?
Polar Capital Holdings has announced the appointment of Nick Evans as senior fund manager on the group’s technology fund.
Getting to grips with the array of power supply offerings is daunting task but the independent watchdog energywatch currently lists 12 accredited price comparison websites and these sites will tell you precisely: "You could save £X with supplier Y."
Chris Salih looks at the trend for some fund firms to raise annual charges, claiming performance justifies higher fees
Some lenders fear that the sub-prime crisis and the credit crunch may begin to have an impact on prime mortgages as well.
The RDR shows the FSA's flawed thinking on raising industry standards
It is perhaps unsurprising that the FSA, in its retail distribution review discussion paper, has fastened onto the word "professional" to describe those financial advisers whose business model resembles most closely that of the established professionals, solicitors and accountants.
Should protection be ring-fenced from the Retail Distribution Review? Lifesearch head of protection strategy Kevin Carr certainly thinks so.
Protected investments can have nasty surprises for investors
Does the shadow of the RDR fall on the protection and mortgage markets too? The question is being asked in the marketplace but the answer is simple.
Unity is needed to produce qualifications that are recognised industrywide
Rathbone Investment Management International has launched a new strategies fund service that it says offers a range of targeted risk and return funds specifically designed for the offshore marketplace and the needs of trustees.
Standard & Poor's fund services has announced the release of its fourth annual fund of hedge funds directory.
Skandia Investment Management Limited has announced the full manager line up for its new UK strategic best ideas fund, to be launched on September 19.
Last week, I indicated the increasing dominance of the stockmarket by investment professionals was behind the upsurge in share volatility. With hindsight, this appears a little oversimplistic. There have been other changes that add to the potential for wide swings in indices and the value attributed to individual companies.
Long-term investors are seeing Japan in a more positive light
T. Rowe Price has announced the addition of a regional equity strategy to its Luxembourg-domiciled SICAV range, focusing on investment in the Middle East and Africa.
Fidelity FundsNetwork has announced that Thames River has joined the platform, with five Thames River Funds available from September 10.
The clock is ticking for real-time pricing of protection products but will it increase commoditisation of the industry?
Towergate has become the largest independent broker to gain Chartered status and has become a flagship partner of the Chartered Insurance Institute.
Summer may have been fairly miserable but there has been a golden ray of sunshine for every IFA firm since the FSA board met in July and approved proposals to reform the Financial Services Compensation Scheme. It is also good news for consumers who will benefit from a scheme, now given a new lease of life, which will offer some financial recompense when no one else can. The FSCS is a vital regulatory safety net which helps maintain consumer confidence in our industry.
Fidelity’s managing director Richard Wastcoat is stepping down from heading the UK business at the end of this month and will work on special projects till the end of this year when he will take a six month sabbatical.
The mortgage industry is buzzing with the news that Lehman Brothers will be withdrawing from the second charge market in the UK with the closure of both its Southern Pacific Personal Loans and London Mortgage Company brands.
UK growth funds have marginally outperformed UK income funds in recent times but income funds have consistently outperformed over the longer term. In today's volatile markets, higher dividends and increasing profits matter more than ever.
Life offices will have different routes on the way to wrap, says Winchester White Management Consultants managing consultant Martin Davies