Money Marketing
5 September 2007

  • £10,500 Fine for homeloan firm

    6 Sep 2007

    The FSA has fined Select Mortgage Services £10,500 for poor financial promotions, inadequate sales processes and inappropriate systems and controls to manage its business.

  • A different story

    6 Sep 2007

    I have been spending time, probably too much time, dissecting the propositions in the RDR document.

  • A Shaw thing

    6 Sep 2007

    Annie Shaw is a freelance financial journalist

  • ABI wants to axe sex exemption

    6 Sep 2007

    The Association of British Insurers has proposed abolishing the existing exemption which allows insurers to differentiate based on sexual orientation. The ABI says insurance companies see no need to differentiate between customers in civil partnerships and married couples.

  • Advisers say independence is down to product range, not remuneration

    6 Sep 2007

    Ninety-four per cent of advisers believe that independence should not be determined solely by the way they are remunerated, as proposed in the retail distribution review, according to Skandia.

  • Advisers stamp on postcode annuities

    6 Sep 2007

    Advisers have poured scorn on a joint pilot study by Legal & General and Hargreaves Lansdown which aims to use customer postcodes as a risk factor in determining annuity rates.

  • Aifa attacks RDR independence logic

    10 Sep 2007

    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 jubilant as FSCS reforms get go-ahead

    6 Sep 2007

    Aifa has hailed the FSA's decision to press ahead with the proposed reforms of the Financial Services Compensation Scheme in the face of opposition from insurers and banks.

  • Aifa warns advisers with clients abroad on Mifid compliance

    11 Sep 2007

    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.

  • Arc building on wealth with Throgmorton buy

    6 Sep 2007

    Arc Fund Management has bought IFA Throgmorton Asset Management in a deal potentially worth £1.6m.

  • Axa UK acquires employee support specialist ICAS

    6 Sep 2007

    Axa UK has acquired ICAS International Holdings, a global provider of employee support and well-being services. Axa says the move will help its healthcare division, Axa PPP, to strengthen its presence in the growing market for employee support and well-being services.

  • Balance-sheet firms could be left exposed

    6 Sep 2007

    'Lenders will be watching to make sure they will not be the only one on the merry-go-round'

  • Bank of England moves to ease UK liquidity crunch

    5 Sep 2007

    The Bank of England has made its first move to help ease the liquidity crunch hitting the UK financial markets.

  • Base rate to stay at 5.75 per cent this month

    6 Sep 2007

    The Bank of England has kept base rate at 5.75 per cent for September as widely expected.

  • BDMs in the balance

    6 Sep 2007

    Tanya Powley analyses whether securitisation lenders blocking business in the sub-prime aftermath will see BDMs move to balance-sheet firms

  • Bearing up in volatile markets

    6 Sep 2007

    Volatility in global markets has caused some concern this summer but losses in open-ended funds have been somewhat subdued compared with those in the down years of 2000-03.

  • Bowe says primary advice will fill gap if RDR hits IFA numbers

    6 Sep 2007

    The head of the FSA's retail distribution review Amanda Bowe says if the number of IFAs falls, the gap can be filled by primary advisers no longer restrained by price caps.

  • Bright ideas are shining

    6 Sep 2007

    Rensburg and Skandia's UK best ideas vehicles have recorded top-quartile performance since their launches in autumn 2006.

  • Broker talkback

    6 Sep 2007

    Do you think it is acceptable for fund managers to charge a premium for consistently outperforming funds?Yes 38%No 62%

  • Brokers expect RDR to cover mortgages

    6 Sep 2007

    Over 61 per cent of mortgage brokers expect the RDR to apply eventually to the mortgage intermediary market, according to research by Alliance & Leicester.

  • Buffalo wings it for BBQ

    6 Sep 2007

    The MM team was both bemused and amused to be invited to, and repeatedly reminded of, the Buffalo BBQ last month.

  • Cat nap

    6 Sep 2007

    Will there be 'a dead cat bounce' in protection sales?

  • Cavanagh announces 38 per cent profit increase

    10 Sep 2007

    Cavanagh Group has announced a pre-tax profit of £712,000 for the first six months of 2007, up 38 per cent from the same period in 2006.

  • Cofunds lobbying for tax-free bond transfers

    6 Sep 2007

    Cofunds is to petition HM Revenue & Customs to allow investors to transfer funds within a bond wrapper without risking a tax penalty.

  • Commercial lender 5D Finance launches into Scotland

    5 Sep 2007

    Commercial mortgage lender 5D Finance has announced it is launching into Scotland, opening itself up to an extra 265,435 small to medium business.

  • Credit opportunities are on the rise, says F&C

    7 Sep 2007

    As the OECD warns of a potential economic slowdown following the crisis in the subprime market, F&C says opportunities are emerging in credit.

  • David Harrison

    6 Sep 2007

    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

  • Defensive measures

    6 Sep 2007

    In this week's article, I am returning to a subject which is very close to my heart, career and IFA business - pension transfers.

  • Don't leave it to trust

    6 Sep 2007

    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 ...

  • Easy RDR

    6 Sep 2007

    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 reassures market that its funding is secure

    11 Sep 2007

    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 reprices adverse product range

    5 Sep 2007

    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.

  • Evan-sent opportunity

    6 Sep 2007

    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.

  • Experts who helped draft RDR plans warn of perils

    6 Sep 2007

    The FSA has come under attack from leading retail distribution review committee members, with True Potential's David Harrison warning that it endangers the IFA channel when consumers need hundreds of thousands of new advisers.

  • Ex-Portman marcomm chief Farr joins AMI

    6 Sep 2007

    The Association of Mortgage Intermediaries has appointed former Portman head of marketing communications Richard Farr as its new director.

  • F&C targets pensions with diversified fund

    6 Sep 2007

    'There is a clear lack of multi-asset portfolios and most pension funds are far from balanced'

  • Fact-find not needed for generalities

    6 Sep 2007

    I think Filip Slipaczek's letter is really quite silly. Of course, one can give generic advice without having to have a full fact-find because otherwise someone trying you out on the phone to see whether or not they might like to become a client will have no idea what knowledge one has.

  • 'Fed must act to avoid recession'

    6 Sep 2007

    Concerns have been raised that the US economy could fall into recession unless the Federal Reserve acts decisively on interest rates.

  • Feilim Mackle and Steve Clode join Aegon

    10 Sep 2007

    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.

  • Figure out a formula for discounts

    6 Sep 2007

    Paul Kennedy, director of trusts & tax planning solutions at FundsNetwork, sets out the calculations that need to be made on discounted gift trusts

  • First State rolls out global infrastructure vehicle

    6 Sep 2007

    First State Investments is introducing a listed global infrastructure fund investing in transport, gas storage and oil.

  • Former Pension Commissioner Drake appointed to PADA

    11 Sep 2007

    Former Pensions Commission commissioner Jeannie Drake has been appointed non-executive director of the Personal Accounts Delivery Authority from September 17.

  • Former Tory deputy chairman joins Tenet

    6 Sep 2007

    A former Conservative Party deputy chairman has been appointed non-executive chairman at Tenet Group.

  • Former UCB head of sales joins Edeus

    5 Sep 2007

    Edeus has confirmed that former UCB head of sales and business development Gary Webster has joined the firm as director of distribution.

  • Foundation course

    6 Sep 2007

    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 and Resolution amend merger in bid to scupper Pearl opposition

    10 Sep 2007

    Friends Provident and Resolution have announced a change to the legal structure for the proposed merger and creation of Friends Financial Group plc.

  • FSA appeal could shed further light on Lautro injustice

    10 Sep 2007

    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.

  • FSA appeals order to name and shame Lautro 12

    7 Sep 2007

    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.

  • FSA fines mortgage firm for re-mortgage and PPI failings

    6 Sep 2007

    The FSA has fined Hadenglen Home Finance and its chief executive Richard Hayes for re-mortgage and payment protection insurance selling failures.

  • FSA spent £13m on consultants

    6 Sep 2007

    The FSA paid out more than £13m in fees to external consultants last year.

  • FSA trouble-shooter Knight joins law firm Bevan Brittan

    11 Sep 2007

    FSA legal adviser and trouble-shooter Harvey Knight has left the regulator to head up the financial services arm of law firm Bevan Brittan LLP.

  • FTBs fell by 7 per cent in July says CML

    11 Sep 2007

    The number of loans to first-time buyers fell by 7 per cent in July to 32,400 according to new statistics from the Council of Mortgage Lenders.

  • GMAC is sticking to sub-prime LTV after £1bn securitisation

    6 Sep 2007

    GMAC-RFC completed a £1.1bn portfolio sale to Bradford & Bingley just a day after it confirmed it would not be making substantial changes to its sub-prime lending criteria.

  • GMAC-RFC Searle to join Stephen Knight in new lending venture

    7 Sep 2007

    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.

  • GMAC-RFC to increase intermediary sub-prime rates over 85 per cent LTV

    11 Sep 2007

    GMAC-RFC has revealed it will be re-pricing its non-conforming products over 85 per cent loan to value tomorrow.

  • GMAC-RFC to up sub-prime partner rates by 0.5 per cent on high LTVs

    10 Sep 2007

    GMAC-RFC has announced that it has increased its partners rates by 0.5 per cent on its sub-prime products over 75 per cent loan to value.

  • Goodman Property Investors' eurozone fund of funds on target

    7 Sep 2007

    Goodman Property Investors has announced that its eurozone fund of funds has raised over €250m since launch just over a year ago.

  • Great expectations

    6 Sep 2007

    Amber Homeloans' "china dolls" are setting off on a march across sections of the Great Wall. The team, from left, are Laura Tudgey, Carla Weatherall, Sarah Brewer and Gail Lloyd. They are braving the walk at an average altitude of 738 metres and have already raised more than £13,000 for their chosen charities.

  • Higham set for Morley return

    10 Sep 2007

    Old Mutual Asset Managers (OMAM) bond manager Chris Higham is leaving the firm to rejoin Morley Asset Management.

  • HSBC launches "one-stop shop" protection product

    5 Sep 2007

    HSBC has launched a new protection plan designed to cover against death, sickness, trauma and unemployment.

  • IFA banned in catalogue of failings

    6 Sep 2007

    The FSA has banned Liverpool IFA Michael Sheron from carrying out any regulated activities after finding him not fit and proper to oversee or manage a business.

  • IFA's shock at Clerical indemnity-only stance

    6 Sep 2007

    Clerical Medical has been criticised for restricting advisers to taking commission on an indemnity basis.

  • iimia announces MitonOptimal merger plans

    11 Sep 2007

    iimia has announced a proposed merger with fund management firm MitonOptimal for a total of £18.6m.

  • In everyone's best interests

    6 Sep 2007

    Confusion over the application of the law of insurable interest makes early reform highly desirable

  • In the line of fire

    6 Sep 2007

    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.

  • Investec backing Unity relaunch

    6 Sep 2007

    Unity Homeloans will continue to be funded by Investec when it relaunches its sub-prime product range. Unity chief executive Paul Thomas, who has been seconded from Investec as a replacement to former ceo Ian Nelson, says the firm is working on its next securitisation issue and new range of products.

  • Investor risk appetite damaged, says Standard Asset Management

    6 Sep 2007

    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.

  • Investors focusing on corporate profits, says BlackRock

    6 Sep 2007

    Investors are beginning to focus on corporate profits to gauge how well companies are holding up amidst the slowing economy and ongoing credit problems, according to BlackRock.

  • Is this proof of unethical practices?

    6 Sep 2007

    I would like to raise a point in connection with estate agents. Having just recently obtained the agreement in principle for a client, the estate agent requested that they see this agreement. No problem. I am used to this and agree with the process of confirming that the client is able to obtain a mortgage.

  • John Jory to speak at Labour conference

    11 Sep 2007

    B&CE Benefit Schemes deputy chief executive John Jory is to be on a panel of speakers at the Labour Party's annual conference.

  • Kensington to increase medium to heavy LTV adverse rates by 1.5 per cent

    6 Sep 2007

    Kensington has confirmed it will be adjusting its sub-prime criteria from Friday as revealed by Money Marketing online last week.

  • Lawrence House boosts quality

    6 Sep 2007

    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.

  • Lehman Brothers to close Southern Pacific Personal Loans and London Mortgage Company

    7 Sep 2007

    Lehman Brothers has announced that it will be withdrawing from the second charge market and will close both Southern Pacific Personal Loans and London Mortgage Company.

  • Life firms blast Lawson over publishing annuity rates

    6 Sep 2007

    Life companies have hit back at Standard Life head of pensions policy John Lawson, saying that his call for all annuity providers to publish their rates is "nonsense".

  • Market turbulance enters its third phase, says BlackRock

    10 Sep 2007

    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.

  • Market volatility brings attractive opportunities, says ABN AMRO

    6 Sep 2007

    ABN AMRO Asset Management claims market volatility has historically produced attractive investment opportunities.

  • Midas moves back into UK equities

    6 Sep 2007

    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.

  • Modray quits Bestinvest

    5 Sep 2007

    Bestinvest head of communications Justin Modray has left the firm after four years.

  • Modray quits over BestInvest strategy changes

    6 Sep 2007

    Bestinvest head of communications Justin Modray has left the firm after four years.

  • Money Partners confirms medium and heavy adverse criteria changes

    6 Sep 2007

    Money Partners has confirmed details of criteria changes to the medium-to-heavy adverse products in its Origin Mortgages product suite.

  • Money Partners to announce criteria changes to sub-prime products today

    6 Sep 2007

    Money Partners has confirmed it will be announcing criteria changes to its sub-prime range of products today.

  • More than a gimmick?

    6 Sep 2007

    This week saw the first UK best ideas vehicle hit its first anniversary as Rensburg's UK manager focus trust recorded first quartile performance.

  • New GM at Investec Bank Switzerland

    10 Sep 2007

    Investec Bank Switzerland has announced the appointment of Oliver Betz as the bank’s new general manager.

  • New ideas for Skandia and Bailey

    6 Sep 2007

    T Bailey is to launch a UK best ideas portfolio on October 1, meshing fund of funds and conviction investing. It will be made up of 10 UK equity funds, each with a weighting of 10 per cent. It will be managed by Richard Martin and Jason Britton. Skandia Investment Management is to launch its new UK strategic best ideas fund on September 19. The portfolio will allow each manager the flexibility to profit from rising shares (longs) and falling shares (shorts).

  • New world order books

    6 Sep 2007

    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

  • Off balance

    6 Sep 2007

    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.

  • Offshore property sales set to rise this autumn, says Moneycorp

    10 Sep 2007

    Moneycorp is predicting a surge of UK residents buying overseas property in the coming months.

  • OPM is building up property Fof

    6 Sep 2007

    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.

  • Out of context

    6 Sep 2007

    "I look like Chewbacca from the neck up and knees down and Princess Leia in between."

  • PAI adds fund of hedge funds to Nucleus platform

    10 Sep 2007

    London-based fund of hedge funds manager P-Solve Alternative Investments has added its fund of hedge funds on the Nucleus financial IFA platform.

  • Pair stole £1.6m from pensions in fraud aimed at fund surpluses

    6 Sep 2007

    A former executive of a British-based engineering and transport group has been convicted in South Africa of defrauding the company's pension fund.

  • Performance art

    6 Sep 2007

    Why are performance figures left out of group pernsion statements?

  • Platform cuts LTVs and raises rates

    6 Sep 2007

    Platform has become the latest lender to tighten its lending criteria and increase rates across its non-conforming range by 1 per cent.

  • Polar Capital announces Evans appointment

    6 Sep 2007

    Polar Capital Holdings has announced the appointment of Nick Evans as senior fund manager on the group’s technology fund.

  • Positive Solutions confirms Reeve as chief executive

    6 Sep 2007

    Positive Solutions has appointed former Barclays Financial Planning managing director Jim Reeve as its new chief executive.

  • Power points

    6 Sep 2007

    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."

  • Premier set for specialist sector

    6 Sep 2007

    Premier chief executive Mike O'Shea says the company will be aiming at the specialist sector after gaining approval for its management buyout last week.

  • Premium bands

    6 Sep 2007

    Chris Salih looks at the trend for some fund firms to raise annual charges, claiming performance justifies higher fees

  • 'Primary advice puts consumers at risk'

    6 Sep 2007

    Consumer advocate Mick McAteer has blasted the RDR for "completely missing the point" by failing to understand consumer needs and playing into providers' hands.

  • Prime numbers

    6 Sep 2007

    Some lenders fear that the sub-prime crisis and the credit crunch may begin to have an impact on prime mortgages as well.

  • Professional foul

    6 Sep 2007

    The RDR shows the FSA's flawed thinking on raising industry standards

  • Professionalism and the Retail Distribution Review

    10 Sep 2007

    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.

  • Profits leap by 67% for Hargreaves Lansdown

    6 Sep 2007

    Hargreaves Lansdown's first annual results as a listed company show a 67 per cent increase in operating profits to £40.7m from £24.3m.

  • Property products pledge 'risk-free' high yield

    6 Sep 2007

    Seven Continent Investment is offering three property products that it claims are high return with no risk.

  • Protect against the RDR

    11 Sep 2007

    Should protection be ring-fenced from the Retail Distribution Review? Lifesearch head of protection strategy Kevin Carr certainly thinks so.

  • 'Protect pure protection from RDR'

    6 Sep 2007

    Lifesearch head of protection strategy Kevin Carr is calling for pure protection business to be "ringfenced" from the retail distribution review.

  • Protection downfalls

    6 Sep 2007

    Protected investments can have nasty surprises for investors

  • Protection plan

    6 Sep 2007

    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.

  • PSigma set for US large-cap launch

    6 Sep 2007

    PSigma has recruited former Credit Suisse manager James Abate to set up a large-cap US equity growth fund.

  • Public lose faith in pensions

    6 Sep 2007

    Pension investment is collapsing among the public who are looking to other forms of savings to provide most of their retirement funding, according to YouGov research.

  • Quest for quality

    6 Sep 2007

    Unity is needed to produce qualifications that are recognised industrywide

  • Rathbone launches new strategies fund service

    10 Sep 2007

    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.

  • RDR - will it all end in tiers?

    6 Sep 2007

    With the first stage of the retail distribution review now published, it seems time to step back and summarise how we think the review will affect the IFA community.

  • Resolution AM launches two new European funds

    10 Sep 2007

    Resolution Asset Management is launching two funds for its restructured European equities desk following its overhaul of the £112m European Growth fund.

  • 'Restructure must address non-advice'

    6 Sep 2007

    Aifa is calling on the FSA to look more closely into non-advised sales as it says consumers are confused over what constitutes advice.

  • Retirement revolution for Tebbutt

    6 Sep 2007

    Former Millfield chief executive Paul Tebbutt has rejoined the financial services industry to launch a new product for the retirement market which he says is "revolutionary".

  • Risky lending to decline but BTL boom goes on

    6 Sep 2007

    High-risk categories of lending are expected to see a reduction in business in the coming months, according to Intermediary Mortgage Lenders' Association's latest member survey.

  • Royal Liver attacks ABI on script-based sales

    6 Sep 2007

    Royal Liver has criticised Association of British Insurers' guidance which suggests that underwriters should stick to scripts when interviewing consumers buying over the phone, saying it will stop experienced underwriters from doing their jobs.

  • Royal Liver set for multi-manager

    6 Sep 2007

    Royal Liver will introduce a range of multi-manager investment funds in early 2008 as part of its modernisation strategy.

  • RSA launches new PI cover for SMEs

    7 Sep 2007

    Royal & Sun Alliance has launched a new Professional Indemnity cover for small and medium sized businesses.

  • S&P releases new fund of hedge funds directory

    11 Sep 2007

    Standard & Poor's fund services has announced the release of its fourth annual fund of hedge funds directory.

  • Santander rebrand for Abbey Financial Markets

    11 Sep 2007

    Abbey Financial Markets is rebranding to Santander Global Banking & Markets following a merger of the two businesses.

  • Sceptical IFAs take CAR for test drive

    6 Sep 2007

    Only one-third of advisers think that customer-agreed remuneration would remove product bias and improve persistency.

  • Schroders reaps aggie rewards

    6 Sep 2007

    The Schroder agriculture fund has taken $1bn in assets in less than a year.

  • Second emergency loan for Barclays

    6 Sep 2007

    Barclays has taken out its second emergency loan from the Bank of England in the last two weeks.

  • SJP grows fund offering

    11 Sep 2007

    St. James’s Place has added two new fund managers and three new investment funds in its growing fund proposition. The new funds and managers have been chosen to broaden the range of investment styles available for St. James’s Place clients and will be available from October 1.

  • Skandia announces new fund manager line-up

    10 Sep 2007

    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.

  • Skipton Building Society launches two new capped rate mortgages

    10 Sep 2007

    Skipton Building Society has launched two new capped rate mortgages.

  • Slowdown as new buyers fall away

    6 Sep 2007

    Nationwide says affordability constraints, higher interest rates and lower house price expectations are more likely to affect UK property prices in the short term than the current market volatility.

  • Speed traps

    6 Sep 2007

    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.

  • Standard Life UK profits strengthen

    6 Sep 2007

    Standard Life's life and pension gross operating profit in the UK rose by 70 per cent to £252m in the first half of 2007, up from £148m in the same period in 2006. Standard Life's interim results show new business contribution was up by 71 per cent to £133m from £78m due to 45 per cent growth in sales. The group's gross European embedded value operating profit rose by 71 per cent to £353m, up from £206m but the IFRS gross underlying profit fell by 10 per cent to £219m from £243m in ...

  • Strait to the point

    6 Sep 2007

    Instead of taking it easy on the bank holiday weekend, two employees of Investec Asset Management decided to swim from Europe to Africa across the Straits of Gibraltar.

  • Sunny side up

    6 Sep 2007

    Long-term investors are seeing Japan in a more positive light

  • T. Rowe Price adds new strategy to its SICAV range

    10 Sep 2007

    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.

  • Tax relief could boost consumers' savings by £5.5bn

    7 Sep 2007

    Around three quarters of potential UK investors are not taking advantage of tax relief from a personal pension and they are losing out on £5.5bn per year as a result.

  • Thames River joins FundsNetwork platform

    7 Sep 2007

    Fidelity FundsNetwork has announced that Thames River has joined the platform, with five Thames River Funds available from September 10.

  • The real deal

    6 Sep 2007

    The clock is ticking for real-time pricing of protection products but will it increase commoditisation of the industry?

  • The right blend

    6 Sep 2007

    Wraps are becoming exceptionally popular in today’s marketplace among IFAs. I have been using wraps and, in particular, Transact’s wrap, for over a year and I have been very impressed with its offering.

  • Thinc acquires Cameron Scott

    10 Sep 2007

    Thinc Group has acquired Maidstone-based IFA Cameron Scott, bringing 18 advisers into the group. Chief executive John Simmonds says the acquisition illustrates its developing group strategy of attracting "top flight" advisers wanting to become a part of its success.

  • Thoresen Review to pilot generic advice from September 17

    10 Sep 2007

    HM Treasury's Thoresen Review has announced a series of generic financial advice consumer pilots to be held in the North West, London, Staffordshire and South Yorkshire from September 17.

  • TMB offers packagers help following closure of Victoria Mortgages

    10 Sep 2007

    TMB has stepped in to help packagers affected by the closure of Victoria Mortgages announced today.

  • Towergate gains Chartered status

    6 Sep 2007

    Towergate has become the largest independent broker to gain Chartered status and has become a flagship partner of the Chartered Insurance Institute.

  • Trade bodies can get FSA guidance

    6 Sep 2007

    The FSA's new framework for recognising industry guidance came into effect this week in a step towards principle-based regulation. Trade associations, professional bodies and firms can seek formal confirmation for their guidance to help their members understand and meet the FSA's regulatory requirements.

  • Two-year fixes dip below bas rate

    6 Sep 2007

    Up to one in 10 of the most competitive two-year fixedrate deals are now below the Bank of England base rate with the return of 4.99 per cent mortgage offers, says online broker mform.co.uk.

  • Victoria Mortgages enters administration

    10 Sep 2007

    Victoria Mortgages has announced that it has gone into administration today and will not be able to complete outstanding mortgage offers.

  • Victoria Mortgages represents 0.064 per cent of mortgage lending as FSA confirms administration

    10 Sep 2007

    The FSA has confirmed that Victoria Mortgage Funding has been placed in administration and says that up to 381 customers could be affected.

  • Voice of hope

    6 Sep 2007

    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.

  • Wastcoat to step down as MD of Fidelity in the UK

    6 Sep 2007

    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.

  • Waving goodbye to more UK brands

    7 Sep 2007

    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.

  • White knights

    6 Sep 2007

    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.

  • Wrap map

    6 Sep 2007

    Life offices will have different routes on the way to wrap, says Winchester White Management Consultants managing consultant Martin Davies

  • Zurich adds protection duo

    6 Sep 2007

    Zurich is offering two new protection products, decreasing mortgage cover and level protection plan.

Poll

Will Greece leave the euro?

Current Issue

Advanced search