6 May 2009
JPMorgan Asset Management has introduced its strategic bond fund, a global best ideas fund that can invest anywhere in fixed income markets.
Private equity firm 3i has revealed a £47m writedown on its Bestinvest investment.
Over 45 per cent of law firms are considering outsourcing the financial function within their business due to pressure, research from Prince OMC reveals.
Three quarters of IFAs says recent stock market gains represent no more than a bear market rally, according to a survey from 1st- The Exchange.
Abbey For Intermediaries2 Year Fixed Remortgage
Abbey For Intermediaries2 Year Fixed Remortgage
Abbey For Intermediaries3 Year Fixed Rate
Aberdeen Asset Management saw profits fall by 45 per cent in the six months to March 31 to £17.9m from £32.5m.
Noise about the retail distribution review seems to have subsided as other matters are beginning to shape the distribution of UK financial services.
The Advertising Standards Authority has launched a formal investigation into NatWest's MoneySense adverts with a particular focus on its claims of impartiality.
Hopeful investors are starting to look for signs of green shoots in the American econ- omy and the rhetoric of recovery is being increasingly aired among politicians and some economists.
Advisers have raised concerns that the merger of Scottish Widows and Clerical Medical sales teams could see service levels suffer.
Aegon is withholding £90,000 in payment from Positive Solutions, claiming the network failed to deliver on a package of adviser initiatives agreed for 2008.
The Association of Independent Financial Advisers is calling for the “law of agency” to apply under the retail distribution review, with regulatory dividends for advisers who act on behalf of their clients.
Aifa chaiman and Conservative MP John Gummer has been dragged into the expenses row for claiming £9,000 on gardening, the Telegraph reports.
AIG Life is paying out £100m, or just over 5 per cent, to investors in its protected recovery fund on June 6.
Managing one's investments (incorporating appropriate asset allocation) to produce acceptable returns while managing risk takes absolute priority in portfolio planning. However, maximising the tax efficiency to minimise tax on investments can substantially add to the bottom line.
America’s unemployment rate rose from 8.5% to 8.9% in April.
Insurers have raised concerns that the Government's new Equalities Bill may curb how they are allowed to price annuities and life insurance and potentially push up costs.
Apollo Multi-Asset Management will unveil an aggressive offshore multi-asset fund in June to prepare for the creation of funds of alternative investment funds in the UK.
Apollo Multi-Asset Management believes that exchange traded funds provide the best way for multi-managers to gain exposure to gold.
Tenet and the Financial Services Skills Council are launching two apprenticeship programmes for mortgage and investment advisers to help bring new blood into the industry.
The ifs School of Finance says Ofqual has formally approved amendments to its level four diploma for financial advisers, designed to meet QCF level 4 requirements.
Arc Capital & IncomeBricks & Mortar Plan 4
Arch Financial Products has announced that it plans disclose the "significant holdings" for each of cru Guernsey cells in its monthly reports going forwards.
Artemis Fund ManagersStrategic Assets Fund
Artemis has introduced a multi-asset fund which boasts the widest investment remit within its unit trust range.
Jersey-based asset manager Ashburton’s Philip Childs says an onshore fund offering is key for the firm to make its mark on the UK retail market.
Aviva has appointed Rexam chief executive Leslie Van de Walle as an independent non-executive director.
Aviva has renegotiated the reattribution deal for its inherited estate after backtracking on a previous £1bn offer earlier this year due to a drop in the value of investments.
Aviva has revealed plans to grow an in-house distribution channel to sell products direct to consumers as it anticipates adviser numbers will be cut in half due to the retail distribution review.
Advisers must reassess the benefits of using insurance bonds for IHT planning, says AWD Chase de Vere.
Axa has launched a pooled Sipp aimed at offering a tax efficient way for families or business partners to invest together.
Living Time has called on the most active and influential IFA firms to lend their weight to the Omo - Offer More Options campaign that seeks to introduce fresh thinking to the £14bn retirement income market.
The Bank of England's Monetary Policy Committee has frozen the base rate at 0.5 per cent and boosted its quantitative easing programme by £50bn to £125bn.
The FTSE 100 opened at 4,338 this morning with gains from the previous session slipping as financial stocks lost some ground in early trades.
Banks have been the principal authors of their own demise, according to a damning report from the Treasury select committee released last week.
The FTSE 100 opened higher at 4,414 with banks pushing ahead following the results of the US stress tests.
Barclays Global InvestorsiShares Barlcays Euro Government Bond 10-15 Years
Barclays Global InvestorsiShares Barclays Euro Treasury Bond
Barclays will have to think again if it believes its extremely limited mea culpa over the advice given around investing in Aviva’s global balanced income fund has put an end to the matter.
Barclays has posted pre-tax profits of £1.37bn in the first quarter, up 15 per cent from £1.19bn from the same period last year.
Barclays Wealth is reissuing its minimum return plan and protected FTSE plan with a new feature to lock in returns for cautious investors.
Former Mortgages PLC chief executive Peter Beaumont is set to launch a new sale and rentback provider.
Alain Bourrier has left his fund manager role at BlackRock causing a reshuffle on the emerging markets desk.
John Charcol is warning that borrowers on variable rate mortgages should be “very aware” of the risk of a rapid rise in their payments once base rate does start to rise.
Bramdean Alternatives investment trust non-executive director Peter Barton has resigned from the firm.
The Equal Pay Act was introduced in 1970 and yet nearly 40 years on, it seems that the gap between men and women's pay is yet to disappear completely.
I'm waiting for the apology from Callum McCarthy. The one that says "I got it wrong in September 2006."
Do you agree with Council of Mortgage Lenders' chairman Matthew Wyles that lenders were not to blame for the current 'dysfunctional' mortgage market?No 100%Yes 0%
Brokers have hit back at the Council of Mortgage Lenders fierce attack onintermediaries.
Advisers have slammed a mortgage firm looking for broker recruits promising no need for FSA authorisations, compliance, qualifications or experience.
Fund managers have given a mixed reaction after fund guru Anthony Bolton called the start of the next bull market.
Finance and Technology Research Centre director Ian McKenna has urged platforms to go direct to reinsurers to launch good value protection products.
We all know the current system of regulation has failed, somewhat miserably, to keep markets under control.
Threesixty has warned there is a danger of platforms being seen as "a cash piñata" with too many players trying to make money out of them.
AWD Chase de Vere marketing director Martyn Laverick has warned that adviser charging is a likely target for the Treasury to raise revenue through VAT.
The Council of Mortgage Lenders has called for aspects of the retail distribution review to be read across to the mortgage market in a fierce attack on brokers.
Cofunds has teamed up with Technical Connection to offer country-wide workshops to help advisers get to grips with the latest tax changes from the Budget and Finance Bill.
Investment Quorum has warned that some IFAs may be tempted to jump on the platform bandwagon to increase their margins in the market turmoil.
We live in an incredibly small world. We might imagine that we are the only people facing constant change and attacks to our profession, yet almost every country faces similar pressures.
Conforto Financial Management has selected Raymond James as its platform partner.
The Consulting Consortium has set up a web-based Risk Frameworker tool to allow firms to self-assess their internal risk management systems and controls.
Consumers do not want to be involved in adviser remuneration under a guided sales process, according to research conducted by Focus Solutions.
We have much on our plates as an industry at the moment, dealing with clients in a volatile market on the one hand and preparing for retail distribution implementation in 2012 on the other. It leaves little time to think about changing consumer trends and needs and how we prepare for that.
Lazard Asset Management is building a position in real estate funds within its UK alpha fund.
Barclays Bank is understood to have received up to three new bids for its ishares division.
Chancellor Alistair Darling has admitted there is "no science" behind his decision to set the higher-rate tax threshold at 150,000.
After what has been an extremely drawn out process, Aviva and policyholder advocate Clare Spottiswoode have finally agreed on a renegotiated reattribution deal which sees pay outs to policyholders slashed in half.
Two former members of the Chartered Insurance Institute have been referred to a disciplinary panel following allegations that confidential CII documents were passed to a rival.
The fall in interest rates to 0.5 per cent should finally have brought a smile to the face of many UK equity income managers.
This newspaper's exposure of errors at Barclays Bank which allowed the Aviva global income fund to be wrongly classified and expose clients to unacceptable risk and financial loss has since been picked up in the wider media and we continue to unearth more examples of the bank's clients receiving inappropriate advice concerning this fund.
Ascentric head of sales Shaun Sandiford believes demand for exchange-traded funds and other passives is rocketing due to the economic climate.
Equitable Life chairman Vanni Treves has decided to retire later this year after eight years in the role.
Worldwide IFA Nick McBreen says investors do not have to sacrifice returns to invest in ethical funds as many have held up well in the downturn.
Ted Scott has returned to F&C but will no longer be managing money for the firm.
As I enter the final years of my life, I am beginning to plan my financial affairs in terms of inheritance for my family. Can you please tell me what I need to bear in mind, particularly for my autistic son?
More questions than answers from the wonderful world of investment over the last weeks or so - not least, is Hargeave Hale new boy Patrick Evershed now officially the Duracell Bunny of fund management?
The Financial Services Skills Council’s bid for a new licence has been officially denied by the UK Government, bringing the role and strategy of the body under review.
Since the introduction of regulation in 1986, Britain has seen a dramatic reduction in choice and competition in many areas of the financial market.
Fitch Ratings has downgraded both Assurant General Insurance and Assurant Life Insurer.
Friends Provident is consider- ing a push into the individual Sipp market.
Friends Provident is restructuring up to £300m of its debt to strengthen capital ahead of the demerger of F&C Asset Management.
The FSA has banned an Essex mortgage broker and fined him £101,279 for submitting a fraudulent mortgage application.
The FSA has closed its investigation into Clive Cowdery and several other Resolution directors.
FSA managing director of retail markets Jon Pain said the FSA will look to prevent distressed mortgage books from being sold to unregulated firms.
The FSA has sent 10 staff home after one colleague returned from America with a probable case of swine flu.
The FSA says it may scrap the payment of mortgage proc fees and introduce adviser charging instead in a bid to stamp out product bias.
The FSA employee sent home with a suspected case of swine flu has been cleared of the illness.
The Financial Services Authority could impose higher fines on those who commit financial crime under new proposals due in the summer chief executive Hector Sants suggested last night.
The FSA is to investigate all issues relating to Lehman-backed structured products under the “wider implications” process.
FSA chairman Lord Adair Turner today highlighted the complexities of product regulation in the mortgage market in a speech at the FSA mortgage conference.
The FTSE 100 opened marginally higher today but soon slipped into the red as banks and mining stocks led the index lower.
London equities opened higher today at 4,409 with financial stocks lifting the index as high as 4,510 ahead of the results of the US stress tests.
The FTSE 100 opened at 4,436 today and dropped as low as 4,405 in early trades with banks and miners amongst the hardest hit.
Gartmore has appointed Kam Tugnait as head of high yield.
Gartmore's multi-manager absolute return fund is investing in a life settlement fund which it says has produced consistent positive returns.
GartmoreUK Absolute Return Fund
The downward trend in Germany’s economy appears to be slowing.
PSigma’s Bill Mott has warned that investors may get carried away with their view of the perceived strength of economic recovery.
The Financial Services Global Competitiveness Group says a global approach to regulation is needed to ensure the recovery of the financial services sector.
The attitudes and competence of the individuals who conduct governance within financial companies need radical overhaul, according to the FSA.
Hargreaves Lansdown has added Artemis strategic assets fund to its Wealth 150 range.
Hargreaves Lansdown has announced the appointment of Ian Gorham as chief operating officer.
Henderson Global Investors has announced the appointment of Simon Ward as chief economist.
The upper income limit under which people can receive higher rate tax relief on pension contributions can be extended by £20,000, according to Skandia.
Regulation, like many things, is cyclical. Light-touch, prescriptive, principle-based, outcome-based - and now "a regulator to fear". How many times have we heard these phrases in the past year or two? Does regulation drive market behaviour or is it the reverse? I'll let you decide.
The average price of UK homes dropped by 1.7 per cent to £154,716 in April, according to the latest figures from Halifax.
House prices have a further 9.2 per cent to fall, brokers polled by Exact have forecast.
Anyone who thought the Budget was a foregone conclusion was in for a surprise. There were a number of changes from the pre-Budget report and they all looked grim for higher-earners.
The Intermediary Mortgage Lenders' Association is warning the Government that capital adequacy requirements on 100 per cent LTV mortgages are as much as 185 times that on 70 per cent LTV deals.
Multi-manager John Husselbee of North Investment Partners is buying into MedicX, a fund which invests in doctors' surgeries.
The Association of Medical Insurance Intermediaries is hosting a session for IFAs at its annual conference that will focus on private medical insurance as an additional revenue stream.
Poland has become second country after Mexico to receive approval for a flexible credit line from the International Monetary Fund (IMF).
Advisers say the promotional literature for National Savings and Investments' "inflation-beating" index-linked savings could mislead the public.
Insurance firms must develop more products for migrant groups working in the UK, according to research published by the Chartered Insurance Institute today.
Investec Structured ProductsFTSE100 and RPI Combination Plan 7
Investec Structured ProductsFTSE 100 and RPI Combination Plan 7
Total investment funds under management fell by £12.8bn to £347.9bn at the end of Q1 this year from £360.7bn in the previous quarter, according to the latest statistics from the Investment Management Association.
The Isle of Man today signs a double taxation agreement with Estonia.
The Institute for Public Policy Research says the collapse of the housing market was largely caused by reckless lending behaviour of mortgage lenders and calls for a strict adherence to lending guidelines in the future.
Lifesearch has this week launched what it claims to be the first service offering consumers the ability to buy protection products with advice and receive instant cover.
Bristol-based IFA firm AWD Chase de Vere has entered into a consultation period which may lead to redundancies. The firm refused to comment on the cuts.
JPMorgan Asset ManagementJPM Strategic Bond Fund
Keydata Investment Services has launched the extra income plan issue 27.
Kingston Unity Friendly Society is launching its products through IFAs in the third quarter of this year.
Legal & General has appointed Nigel Wilson as group chief financial officer, in succession to Andrew Palmer who is retiring.
Legal & General is one of two pension funds in early talks with the Homes and Communities Agency over investment in building new rental properties.
British insurer Legal & General is in talks with unions to make up to 560 of its staff redundant.
Landlords could have to apply for a licence to let residential properties in Government plans to clamp down on rogue landlords.
Latin America has often lured investors with the promise of riches. From the Europeans who crossed the Atlantic in search of El Dorado in the 16th Century to the Latin American debt bubble of the 1820s and beyond, the region's vast natural resources have attracted attention.
Satisfying our due diligence and the overriding obligation to treat our customers fairly were the key drivers in our wrap selection process. The variety of approaches and flavours in this market and the lengths that some players go to gloss over gaps and weaknesses in their propositions meant that this is not an easy process.
Lifesearch has launched a consumer-facing website helping those who are less financial savvy purchase protection products.
Part-nationalised Lloyds Banking Group has warned that it expects to make a loss in 2009, despite “good progress” in the first few months of the quarter.
Suffolk Life says the Government should require people to lock in to a minimum level of annual income when they buy an annuity at 75 but be allowed to use their remaining pension pot as they choose.
Legal & General has appointed London Stock Exchange chief executive Dame Clara Furse as an independent non-executive director of the group.
Lutine Assurance Services has made IFA sales manager Shaun Murphy redundant.
Australian banking giant Macquarie Group has successfully priced a £266m capital raising by way of a fixed bookbuild.
Rising costs and confusion between the responsibilities of managers and the independent boards of investment companies are some of the potential implications of draft rules issued by the European Commission last week.
The Matrix ascension fund provides sophisticated retail investors with access to a diversified portfolio of global futures by investing in the sterling share class of the Winton futures fund.
The journey toward the new model of financial advice is much discussed and seems set to play an important role in how advisers review their business models to build their businesses and remain profitable in a changing landscape.
Money Marketing swept the board at this year's prestigious Headline Money awards. MM won personal finance trade title of the year while Lee Jones was mortgage writer of the year and Helen Pow was pensions writer of the year. Former editor John Lappin was crowned journalist of the year while Chris Salih was runner-up as investment writer of the year and Julian Marr was runner-up as columnist of the year.
More than 300 directly authorised mortgage brokers left the industry in the first three months of this year, according to the latest FSA figures.
European Financial Solutions has bought up Mortgage Intelligence and announced plans to merge the firm with its existing network Mortgage Next.
Corporate Training Partnerships and Perception Support are setting up a website to provide RDR resources.
MPs grilled the Chancellor over the lack of exit strategy for the Bank of England's £75bn of quantitative easing programme.
The Treasury Select Committee has called on the Government to monitor the effect of the removal of higher rate tax relief on pensions contributions and consider an alternative if it has a negative impact on pension savings.
Peter Hargreaves is an early riser. I know this because as I was motoring up to London last week, his dulcet tones could be heard on BBC Radio 5 at about 6am complaining about the Government's 50 per cent tax plans for earnings over £150,000.
A Which? investigation into NatWest's MoneySense service has borne out Money Marketing's findings that it is sometimes failing to deliver on its promise of impartial advice.
NDFARegular Fixed Income Plan April 09
NDFA has launched the April issue of its defined income product range.
Network Data was temporarily suspended from Aim on Tuesday after Lighthouse revealed it had abandoned talks for a potential takeover of advisers and some key staff. A source says Network Data's bank, HBOS, blocked the deal when it failed to release security over the company by last week's Friday afternoon deadline. The source says HBOS believes it can get more money for the company than Lighthouse was offering.
Norwich and Peterborough Building Society has appointed Eric Stobart to its board of directors.
Octopus Investments Ltd has entered into a strategic relationship with Paradigm Partners to provide its offering to network members.
The admission by Barclays that it incorrectly categorised the risk of one its biggest-selling funds will do little to calm the nerves of the public, most of whom probably now rate bankers below estate agents when it comes to those they trust least.
Old Mutual has reported a 25 per cent drop in group-wide life sales from £423m to £316m but it has boosted its capital position by almost 20 per cent to £900m in the first quarter of 2009.
Parliamentary Ombudsman Ann Abraham has branded the Government’s response to her report into the Equitable Life collapse as “deeply disappointing” saying it provides insufficient support for the rejection of her findings.
I ended up in this industry as a result of a three-week rugby tour to the US. At the end of the tour, I missed my plane home (don't ask), met a girl, married her and, having obtained my Green Card, followed the very pointed advice of my new mother-in-law to "find a proper job".
Openwork has appointed Kate Avery as non-executive director.
The Personal Accounts Delivery Authority has suggested spurning traditional lifestyling methods for personal accounts in favour of 'target date funds' which relate to investors' expected retirement dates, in a consultation launched today.
Paradigm Mortgage Services has teamed up with Aegon to host a series of business protection workshops for members.
This year's Budget will be certainly go down as memorable in the pension history book.
Axa Distribution Services appointed three new Elevate distribution directors Roz Simcock, Bruce Cargill and Dominic Clabby.
FourWinds Capital Management, the alternative investment manager, has appointed of Lydia Whyatt as managing director in the environment group. Prior to joining the firm, Whyatt spent four years as managing director at Foursome Investments. In her new role, she will focus on deal execution and implementation and will be based in the London office.
Nationwide has appointed Andy McQueen as divisional director for mortgages and savings. McQueen, who replaces Matthew Carter, was previously divisional director of specialist lending, covering both The Mortgage Works and the building society's former intermediary arm UCB Home Loans. He will be responsible for the creation and marketing of all mortgage and savings products.
Prudential chief executive Mark Tucker is to step down from his position in October, with group financial officer Tidjane Thiam taking over the role. Tucker, who has been at the insurer for 25 years and held the position of CEO for the past four, has not revealed his future plans although he insists he has "one more big job" in him.
The Personal Finance Society, in partnership with the Personal Finance Education Group, is launching a school-based financial skills and awareness project.
The Personal Finance Society is rolling out a series of regional study groups to help its members prepare for the diploma in financial planning exams.
Pi Financial's Harriet Mackenzie Williams has resigned as a director of the firm.
PMS has extended its protection panel to include the likes of Bupa, Bright Grey and Pru Protect.
Premier Network Group is going into administration amidst claims it owes money to many of its appointed representatives in renewal commissions and procuration fees.
Positive Solutions has set up a partnership initiative offering members referral opportunities with solicitors and accountants.
Australian-based technology platform provider Praemium is cutting its UK workforce in a bid to save the firm £2m per year.
Intelliflo profits for 2008 leapt by 65 per cent to £1.6m.
Over a third of consumers who look for an IFA on unbiased. co.uk are specifying qualification levels in their search.
RBS has appointed three new senior executives, including ANZ executive Committee member Brian Hartzer.
Royal Bank of Scotland has posted a pre-tax loss of £44m for the first quarter compared to profits of £479m the same time last year.
The possibility of a flu pandemic may mean that businesses need staff to work at home to cut the risk of infection.
There could be an early sale of Northern Rock if the price is right, Chancellor Alistair Darling revealed to MPs last Wednesday.
Royal Liver has appointed accountants Ernst & Young to oversee a sale of its loss-making distribution arm Park Row, according to reports.
Smith & Williamson has added to its fixed-interest range with the launch of the short-dated corporate bond fund managed by Ian Kenny.
Schroders has appointed Thomas See as the new head of its income maximiser fund following the departure of John Teahan from the firm.
Seven people have been arrested after the FSA, in co-operation with police, raided a number of premises in the South East of England as part of its investigation into boiler room scams.
The Serious Fraud Office is to begin proactively looking for cases of misconduct rather than waiting for them to be handed over by the police or regulators.
Skandia has enhanced its platform price comparison tool by adding four new functionalities to the service.
Skandia Investment ManagementGlobal Dynamic Equity Fund
Her primary role is to increase awareness among employers, employees and potential new joiners to the industry of the training and development opportunities that exist.
The Financial Services Skills Council has been threatened with closure after Whitehall found it to be incompetent, according to the Financial Times.
The Small Business Practitioners’ Panel has attacked Network Data for leaving its appointed representatives and their borrowers out in the cold.
I guess being in Government is not about winning popularity contests, unless you count the general election, of course.
Aviva policyholder advocate Clare Spottiswoode and consumer champion Which? have lambasted the FSA for allowing shareholders to raid life companies’ inherited estates to the detriment of policyholders.
Money Marketing has teamed up with Ignis Asset Management to bring you the best in desktop sporting action.
I was impressed by the comments from Michael White of Email Mortgages regarding the destruction of advised choice by lenders.
I wonder how many brokers recognise the name of William Littlewood. He was the star UK fund manager of the 1990s and is also probably the best fund manager I have ever met.
This year has brought about many changes for recruiting within the financial services sector. Demand for well qualified and experienced IFAs is still strong despite the economic downturn. The option of being self-employed is still popular as it allows a high level of earnings and more autonomy.
Sylvia Perrins has a daunting task in front of her. In addition to her responsibilities to increase the quality of training available for new recruits for financial services and promote the opportunities available in the industry, the new chief executive of the National Skills Academy for Financial Services is also looking to tackle the widespread ignorance about finance in the wider population.
Taylor Young Investment Management has appointed Efi Ontopoulou as head of fixed income.
Tenon Financial Services is launching a new wealth management platform.
RWC Partners originally launched under a different name and with a hedge fund focus in 2000, changing tack with the arrival of Peter Harrison as CEO six years later.
Variable annuity providers have rushed to reassure advisers they are committed to the market after Hartford announced its decision to shut down its UK new business operations last week.
A new report from the Building Societies Association predicting the shape of the mortgage market in 2020 suggests that IFAs rather than brokers will take centre stage in mortgage distribution.2020 Vision: The Mortgage Of The Future, written by mortgage expert Peter Williams outlines some of the possible outcomes resulting from the changing funding environment and demographic shifts.
A gainst the backdrop of the last 18 months, top-down macro calls of which asset class to invest in have become increasingly important and helped shape a significant element of overall returns.
Transact head of marketing Malcolm Murray has hit out at Skandia for making incorrect claims that certain funds were not available on Transact.
A discussion paper released by HM Treasury today says the UK's insolvency and regulatory regimes were not fully adapted to deal with the collapse of Lehman Brothers' because such an event had not been anticipated by any country.
Liberal Democrat Shadow Chancellor Vince Cable has written to the FSA demanding that it release details of how it is stress testing banks’ capital.
I have been thinking of putting some more cash back into the market. Not yet, mind. Perhaps after the next wave of nervousness drives shares back below 4,000. We are, after all, in May - the season to sell and retire to the country. And we have an approaching flu pandemic - or at least that is what the media would have you believe. There are still plenty of people around to whom the glass is half empty, rather than half full.
Parliamentary Ombudsman Ann Abraham says the Gov-ernment's response to her July 2008 report on Equitable Life was "deeply disappointing" and provided insufficient support for the rejection of her findings of maladministration and injustice.
The WAY Group has partnered with Ascentric to offer advisers a new open architecture inheritance tax solution.
It may be considered sad to be on holiday and thinking about the financial services market but I have to admit that it did cross my mind on a recent trip to Florence.
London's stock market rally hit the brakes today after shooting above 4,500 in intraday trading last week as investors eased away from banks and miners.
A Which? investigation into NatWest’s MoneySense service has borne out Money Marketing’s findings that it is sometimes failing to deliver on its promise of impartial advice.
Royal Bank of Scotland finance director Guy Whittaker is to step down from his role and the RBS board.
Is it only me that is questioning the worth and the motives of the Association of British Insurers? In 2007, its lobbying succeeded so famously that the initial retail distribution review publication appeared to be a replica of its official submission.
Zurich's operating profit world-wide has plunged 40 per cent in the first quarter to £728m compared with the same time last year.
Zurich has launched a new international portfolio bond aimed at high net worth UK residents.
Zurich has admitted it does not expect to go live with the Association of British Insurers' open market option initiative for annuity transfers until the third quarter.