Money Marketing
8 August 2007

  • MPs want talks on orphan assets

    9 Aug 2007

    The Treasury select committee is calling on the Government to consult with the industry about including life insurance assets in its unclaimed assets scheme. The committee also wants the scheme to be made compulsory and to include assets held by National Savings & Investments.

  • A new isa age

    9 Aug 2007

    This little piggy can go to market when the new Isa rules come in next April. Standard Life product manager for savings and investments Gerry McGrath says detailed changes unveiled last month will clear up the mini-maxi confusion and allow cash holdings to be transferred to stocks and shares

  • A shaw thing

    9 Aug 2007

    Sam Shaw is a reporter on Money MarketingDespite having had to turn down at very short notice an invite to Goodwood, courtesy of Invesco Perpetual (sorry Rick), I assure the I team I will make up for it on Saturday at England v Wales at Twickenham. Promise.

  • ABI to launch new climate change initiative

    8 Aug 2007

    The Association of British Insurers will launch a new industry climate change initiative at its third climate change conference, to be held on September 13.

  • Advisers warned not to exploit SSAS loophole

    9 Aug 2007

    Finance Bill allows IHT avoidance but Standard's Lawson says charges to be imposed retrospectively

  • Aegon life and pensions business increases 21 per cent

    10 Aug 2007

    Aegon UK’s new life and pensions business increased by 21 per cent from £499m in the first half of 2006 to £606m in the same period this year.

  • Aifa issues first RDR paper to advisers defining CAR

    9 Aug 2007

    Aifa has issued its first paper on the retail distribution review, entitled RDR Issues Paper 1: Commission and Customer Agreed Remuneration.

  • An American intern's tale

    9 Aug 2007

    Diary editor Sam Shaw has requested that I, the summer intern (Aka "The American Bird", for those of you who have seen MMTV), contribute to the Diary pages for my final day at Money Marketing.

  • An inspiration to us all

    9 Aug 2007

    Over curry last week, the Diary was delighted to discover inspiring information about the past life of one Standard Life PR.Under the employ of the Cabinet Office, Paul Keeble used to promote across the country the Citizens' Charter for public services. The brainchild of then Prime Minister John Major, the Charter cherished and celebrated transparency, accountability, responsiveness and the right to information.A rallying cry for PRs if ever there was one.

  • Anger at Clerical call for firms to sell up over RDR

    9 Aug 2007

    Aifa and Sesame have rejected Clerical Medical's suggestions that advisers who think they cannot meet retail distribution review requirements should consider selling up now and not rely on networks to be their saviour.

  • Annuity warning for Resolution investors

    9 Aug 2007

    Hargreaves Lansdown head of pensions research Tom McPhail says Resolution's pension policyholders could end up with a poor deal on annuities if the life company's merger with Friends Provident goes through.

  • Average house price to hit £300k

    9 Aug 2007

    A new report from the National Housing Federation says the average house price in England will break the £300,000 barrier in five years.

  • Aviva operating profit falls due to floods

    9 Aug 2007

    Aviva released its interim results today which showed a 25 per cent growth in worldwide sales of £19.2bn in the first six months of 2007 compared to £15.6bn in the same period last year.

  • Aviva to merge investment arms

    9 Aug 2007

    Aviva is to pull its investment arms under the Aviva Global Investors banner after hiring new Morley chief Alain Dromer to head up the operation.

  • Axa results show strong life and savings growth

    9 Aug 2007

    Axa’s 2007 first half results show that life and savings APE business is up 26 per cent on a like for like basis, from £438m to £553m, compared to the same period in 2006.

  • Bacon or cheap insurance?

    14 Aug 2007

    Vegetarian life insurance has been a hot topic since Animal Friends Insurance, the pet insurance specialists, said they would give vegetarians and fish-eaters an average 6 per cent discount on their life premiums.

  • Bacon or cheap insurance?

    14 Aug 2007

    Vegetarian life insurance has been a hot topic since Animal Friends Insurance, the pet insurance specialists, said they would give vegetarians and fish-eaters an average 6 per cent discount on their life premiums.

  • Barclays changes terms following FSA investigation

    13 Aug 2007

    Barclays has changed Woolwich terms and conditions which the FSA has deemed unfair under the Unfair Terms in Consumer Contract Regulations 1999.

  • Base rate held at 5.75%

    9 Aug 2007

    The Bank of England's monetary policy committee voted last week to maintain the base rate at 5.75 per cent. This week, the Bank publishes its inflation report which will influence the direction of any rate move at its next meeting.

  • Bateman is latest to follow Falcon duo

    9 Aug 2007

    Bateman Financial Management has become the latest adviser firm to defect from national IFA Kilminster to Falcon Group.

  • BBA’s Angela Knight says FSCS “olive branch” is not enough

    8 Aug 2007

    British Bankers’ Association chief executive Angela Knight has hit out at the FSA over its latest Financial Services Compensation Scheme reform announcement claiming the regulator has failed to address all her concerns.

  • BoE August inflation report hints at rate increase to 6 per cent

    8 Aug 2007

    The Bank of England’s latest quarterly inflation report has hinted that UK interest rates may need to rise one more time if inflation is to be brought down to the 2 per cent target.

  • Bonham Carter highlights healthy correction

    10 Aug 2007

    Jupiter Asset Management chief executive Edward Bonham Carter says the recent correction is just a healthy part of market behaviour and could result in a number of opportunities in the market.

  • Bowes warns of dangers in plan for Isa equity switch

    9 Aug 2007

    AWD Chase de Vere says the Government is being "duplicitous" with its Isa reforms and risks massive consumer detriment by not allowing a switch back from shares to cash.

  • British Insurance launches new MPPI

    13 Aug 2007

    British Insurance has launched a new mortgage payment protection insurance product which will be underwritten by Norwich Union and distributed by Paymentshield.

  • Broker Talkback

    9 Aug 2007

    Do you agree with Aifa that the IFA model is not broken?

  • Buyer be aware

    9 Aug 2007

    F&C's Jeremy Tigue says lace up your buying boots, reports Chris Salih

  • Canada Life reduces policy fee

    8 Aug 2007

    Canada Life Group Insurance has announced its policy fee for business written through the eQuotes module of Class will reduce to £100. Canada Life says following the extension of eQuotes in April 2007, to allow intermediaries to complete the ‘on risk’ process online, this 66 per cent reduction in the policy fee reflects a sharing in the cost efficiencies achieved through the online portal.

  • Capita launches modular website builder for IFAs

    13 Aug 2007

    Capita Enabler has launched a web service for advisers who want to create their own tailor-made and e-commerce-enabled web presence.

  • Chasers' court challenge in bid to lift the time bars

    9 Aug 2007

    Four claim management companies have joined forces for a High Court challenge on the legality of time-barring for endowment compensation claims.

  • Cheltenham & Gloucester to close 31 branches in November

    8 Aug 2007

    Cheltenham and Gloucester will close 31 of its 195 branches this November, affecting 315 staff in total.

  • ClosePip is cautious on UK commercial property

    9 Aug 2007

    ClosePip, the property fund of funds managed by Close Investments, will hold stakes in two new property funds that the company plans to launch later this year.

  • Cloudy days

    9 Aug 2007

    Phew, what a week. As share prices approached freefall last week, it seemed the message that problems in credit markets could spill over into equities had finally struck home. Not that the real pain lasted for too long. Still, it was a reminder that shares can fall as well as rise.

  • CPI inflation drops to 1.9 per cent in July

    14 Aug 2007

    CPI inflation has dropped to 1.9 per cent in July, down from 2.4 per cent in June, according to the Office of National Statistics.

  • Critical duty of care

    9 Aug 2007

    Ensuring customers are aware of all the facts in the sales process is vital

  • Crunch time

    9 Aug 2007

    Over recent times, the financial news has been dominated by headlines concerning credit problems, specifically those associated with sub-prime lending.

  • Crunch time for sub-prime sector

    8 Aug 2007

    DB Mortgages has withdrawn its entire sub-prime product range from the market in what could be seen as the first major sign of a credit crunch in the UK market following the deepening US sub-prime crisis.

  • Crunch time for sub-prime sector

    9 Aug 2007

    Mortgages and securitisation deal withdrawn as US crisis makes impact

  • CSAM appoints global equities chief

    9 Aug 2007

    Yong-Moon Kim has joined Credit Suisse Asset Management as managing director and head of global equities for asset management. Yong-Moon arrives from Mirae and will report to head of equities for asset management Kim Goodwin.

  • DB Mortgages to withdraw remaining products this week

    13 Aug 2007

    DB Mortgages is withdrawing its remaining products, Near Prime+ to Super Light, this Friday.

  • Derek lines up dominoes

    9 Aug 2007

    I am about to sell a substantial investment but am concerned about the tax implications. Is there anything I can do to offset the capital gains tax liability?

  • Don't put out sale signs yet

    9 Aug 2007

    Clerical Medical says advisers who are not prepared to meet the requirements of the retail distribution review should consider selling up now before the review leads sale prices to fall.

  • Ethical funds bring in the green

    10 Aug 2007

    Ethical funds under management have grown by almost a third in the past year according to new figures from the Investment Management Assocation.

  • Fidelity predicts opportunities in global bond markets

    13 Aug 2007

    Fidelity International says the recent volatility in global bond markets may soon start to represent a buying opportunity for skilled portfolio managers.

  • Fidelity says review could kill off half of advisers

    9 Aug 2007

    Fidelity believes that the retail distribution review could squeeze out almost half of advice firms.

  • Firm bids to build in full online security

    9 Aug 2007

    The founders of Webline have set up a new business aiming to develop a secure email system for online transactions.

  • First-time buyers could pay £1m for starter homes in 2024

    13 Aug 2007

    First-time buyers could have to pay £1million for a starter home in 17 years time, according to new research from Stroud & Swindon.

  • First-time buyers fall in June says Council of Mortgage Lenders

    14 Aug 2007

    There was a fall in the number of first-time buyers in June dropping to 35, 600, according to new stats from the Council of Mortgage Lenders.

  • Focus on profits pays off for Pru

    9 Aug 2007

    Prudential's profits surged by 39 per cent in the first half of this year despite the restructuring of its UK arm which resulted in sales falling by a fifth.

  • Foil mystery shoppers

    9 Aug 2007

    I refer to the letter from Julian Stevens (July 26) regarding the activities of mystery shoppers and ask why practitioners are getting so agitated about it.

  • Food for thought

    9 Aug 2007

    Commodities investors are looking to reap the benefits of growing demand for food and new fuel sources, says Samantha Downes

  • Friends goes beyond FOS guidelines

    9 Aug 2007

    Friends Provident says it goes beyond ombudsman guidelines on paying out on critical-illness insurance claims where there has been non-disclosure.

  • Friends quotes for income protection online

    10 Aug 2007

    Friends Provident has launched an online income protection quote service.

  • General financial adviser is seen as a holding role

    9 Aug 2007

    JP Morgan Asset Management believes that the general financial planner category proposed under the retail distribution review should be temporary as it considers that most advisers will eventually fall into the certified financial planner or primary advice brackets.

  • GMAC-RFC latest lender to re-price sub-prime product range

    14 Aug 2007

    GMAC-RFC has become the latest sub-prime lender to re-price its product range in the wake of the US sub-prime crisis.

  • Guide aims to help IFAs optimise search results

    9 Aug 2007

    IFA Life has developed an e-book which is aimed at helping advisers boost their internet search engine presence and Money Marketing readers are being offered the opportunity to use it for less than half price.

  • Hales joins Simply Biz advisory board

    9 Aug 2007

    Former Chartered Insurance Institute president Peter Hales has joined the Simply Biz advisory board.

  • Hargreaves Lansdown warns against protected products

    14 Aug 2007

    The best way to achieve long-term success in the stock markets is to avoid most protected products and put together your own portfolio of actively managed funds, according to Hargreaves Lansdown.

  • HBOS retail CEO Higgins to step down at end of year

    10 Aug 2007

    Lending giant HBOS has announced that retail chief executive officer Benny Higgins is to step down at the end of the year.

  • HBOS to home in on FTBs as market share sags

    9 Aug 2007

    HBOS has admitted that it has neglected first-time buyers sector as it focused on remortgaging.

  • Holding back the fears

    9 Aug 2007

    Bond market volatility is well and truly with us and the equity market is joining in

  • Home makers

    9 Aug 2007

    With a shortage of available housing and spiralling prices putting buying a home beyond the reach of many, the Government intends to act to provide some much needed assistance in the market. But are these measures enough, asks Will Henley

  • HSBC underpins division with property specialists

    9 Aug 2007

    HSBC's specialist institutional property investment team has been transferred to HSBC Investments' multi-manager division.

  • Huge private cost of public sector pensions

    9 Aug 2007

    Liberal Democrat research has found that for every £1 a private sector worker contributes to their own pension, they are in effect paying 91p into a public sector worker's retirement scheme in tax.

  • IFAs concerned over pseudo-Sipps

    9 Aug 2007

    IFAs are calling for Sipp providers to be more clearly defined as concerns mount that many personal pensions are masquerading as Sipps to cash in on investor interest.

  • Infinity Mortgages next lender to pull out of sub-prime

    10 Aug 2007

    Investec-backed Infinity Mortgages has become the latest lender to announce it will be withdrawing its entire sub-prime mortgage range from the market on August 17.

  • Insurer called on to flesh out details of veggie-only cover

    9 Aug 2007

    Bupa has questioned how Animal Friends Insurance intends to police its offer of discounted life insurance for vegetarians and ensure carnivores do not take out cover.

  • Insurers' flood costs set to reach £2.5bn insurers

    9 Aug 2007

    Aviva and Zurich look set to be the insurers worst hit by this summer's floods.

  • Integrity rescues HIP provider First Sellers Pack from administration

    8 Aug 2007

    Integrity has rescued home information pack provider First Sellers Pack from administration.

  • JFSC proposes regulation changes

    9 Aug 2007

    The Jersey Financial Services Commission has published a consultation paper proposing amendments to the Commission’s regulatory laws.

  • Just Retirement tops Sesame provider service index

    8 Aug 2007

    Just Retirement and The Hartford edged out more established product providers to make the top three of Sesame’s first provider service index.

  • Just Retirement turns the tables

    9 Aug 2007

    Just Retirement and The Hartford edged out more established providers to take two of the top three places in Sesame's first provider service index.

  • Kensington says it will not withdraw sub-prime products

    10 Aug 2007

    Kensington says it will definitely not be withdrawing its sub-prime mortgage products from the market.

  • L&G has put 25,000 applications on risk with L&G Max underwriting service

    9 Aug 2007

    Legal & General has put over 25,000 protection applications on risk through its L&G Max underwriting service.

  • L&G recruits head of protection sales

    9 Aug 2007

    Legal & General has appointed Martin Noone as protection sales director. He will be responsible for protection sales through the IFA channel. Noone previously ran Bupa's individual protection and group risk sales operation.

  • Leaviss heads M&G corporate bond fund

    9 Aug 2007

    M&G head of UK retail fixed income Jim Leaviss is to take over the group's £1.1bn high-yield corporate bond fund from David Fancourt, who is moving to M&G's collateralised debt obligations team.

  • Lessons from US experience

    9 Aug 2007

    Advisers in the UK should look to the US for lessons about how a shakeout of the market is likely to affect their businesses, according to JP Morgan Asset Management.

  • LV= appoints Hopkinson and Heard to IFA division

    9 Aug 2007

    LV= has boosted its intermediary division by appointing Chris Hopkinson as head of national accounts, Carl Heard as national account manager and four new key account managers.

  • MBSL acquires PMP creating combined network of 400 mortgage advisers

    14 Aug 2007

    Mortgage Broking Services Ltd has acquired Professional Mortgage Partnerships Network Limited which will create a combined network of more than 400 mortgage advisers within 294 Appointed Representatives.

  • Moffatt quits Portal

    9 Aug 2007

    The Money Portal head of investment development David Moffatt is leaving the group this week and is returning to former employer Adnitor.

  • Moret plea to tackle transfer turmoil

    9 Aug 2007

    Poor administration on pension transfer business is damaging the industry and must be tackled head on, says Suffolk Life director of sales and marketing John Moret.

  • Mortgage Business Expo outlines improvements

    14 Aug 2007

    Mortgage Business Expo has outlined its priority action points to be completed ahead of its London exhibition, following the first meeting of its advisory panel.

  • Mortgage lenders roll out 25-year fixed rate mortgages

    8 Aug 2007

    Yorkshire Building Society has become the latest lender to launch a 25-year fixed rate mortgage.

  • Mortgages plc announces sub-prime rate rise with Edeus to follow next week

    14 Aug 2007

    Merrill Lynch subsidiary Mortgages plc has confirmed it will be re-pricing its sub-prime product range as Edeus admits that rates will have to go up.

  • Most advisers reject PFS knitting stance

    9 Aug 2007

    A moneymarketing.co.uk straw poll found that 58 per cent of advisers disagreed with the Personal Finance Society's stance that it should "stick to its knitting" and keep out of controversial debates surrounding the RDR and 42 per cent agreed.

  • New chairman Kane says ABI firms to rely on IFAs

    9 Aug 2007

    The Association of British Insurers has rejected the accusation that it is anti-advice and anti-IFA, claiming its members' view the adviser channel as an essential part of future growth.

  • New chief exec appointed at Collins Stewart Limited

    8 Aug 2007

    Collins Stewart has announced the appointment of Martin Bralsford as chairman of the company’s portfolio management, stockbroking and funds business based in the Channel Islands and Isle of Man.

  • New director of education at the IFP

    9 Aug 2007

    The Institute of Financial Planning has announced the appointment of Lucy Courteney to the position of director of education.

  • New FPP Asia hedge fund

    9 Aug 2007

    Fabien Pictet & Partners has announced the creation of the FPP golden Asia fund, an Asia ex-Japan hedge fund with seed assets from Jade Absolute Fund Managers.

  • No surprise over sub-prime withdrawal say brokers

    10 Aug 2007

    Premier Mortgage Service managing director John Malone says he is not surprised by the amount of UK non-conforming lenders withdrawing their sub-prime mortgage range from the market.

  • No surrender

    9 Aug 2007

    I concluded my last article - relating to pension rights in divorce proceedings - by expressing my opinion that pension sharing orders will become more widely used in the longer term as their relative simplicity is accepted.

  • Old Mutual to merge funds and raise fees

    9 Aug 2007

    Old Mutual Asset Managers is to streamline its fund range in a move that will see charges rise on some products and its managers given the ability to adopt Ucits III powers.

  • One rep beyond

    9 Aug 2007

    Scottish Equitable faces a £700,000 payout after a rep was deemed to have wrongly given advice in a client meeting. John Lappin examines the implications for the adviser-provider relationship

  • Open season

    9 Aug 2007

    The open market option is a prime example of commission abuse

  • Openwork pledges £150k for charity

    9 Aug 2007

    Openwork is launching a three-year partnership with Winston's Wish, the charity which helps bereaved children, through its community programme, the Openwork Foundation.The adviser network will provide £150,000 of funding over that period, with the money raised by its executives, advisers and employees.The charity, which is in its 15th year, says an extra 75 children will benefit from its counselling services due to this funding.

  • Organ takes finance role at AWD Group

    9 Aug 2007

    Robert Organ is joining AWD Group as finance director. He will replace Doug Richards, who leaves next month. Organ, who is a chartered accountant, joins from AMP in Australia.

  • Origen appoints two new executives

    8 Aug 2007

    Origen has recruited two senior executives to its management team with Mark Pearson joining as business development director and Chris Holmes joining as head of professional connections. New board member Pearson joins from PIFC Consulting where he was a director and prior to that was managing director of Baker Tilly Financial Services.

  • Origo launches online forum

    10 Aug 2007

    Origo has announced the launch of an online forum to provide advisers with a platform to share experiences of eservices and seek advice from peers.

  • Our five years on a platform

    9 Aug 2007

    At Cathedral, we were early adopters of the fund supermarket concept. Having worked with Fidelity FundsNetwork for more than five years, we have now accumulated nearly £55m on the FundsNetwork platform, which is a big proportion of the £170m of assets that we have under advice.

  • Out of context

    9 Aug 2007

    "For years people laughed and took the mick out of me for drinking cider but because of Magners I'm now cool."Leadbay PR Debbie Staverley

  • Over 70 per cent support proposals for generic advice

    14 Aug 2007

    Over 72 per cent of people support proposals for a new generic financial advice service, with only 7 per cent opposing this, according to research commissioned by the Resolution Foundation.

  • Pensioners have a total debt of £57bn

    13 Aug 2007

    The total nationwide debt held by those in retirement is £57bn according to the Scottish Widows UK Pensions Report 2007.

  • Pensions Office backlog after exodus

    9 Aug 2007

    The Pensions Office is apologising to introducers for the late payment of commission after 90 per cent of its staff walked out on the same day.

  • PFS and IFP must work together

    9 Aug 2007

    The nonsense being spouted by Tim Eadon cannot go unchallenged. The PFS needs to adopt an honest, descriptive title for chartered members before it can begin to be taken seriously and gain respect.

  • pi Financial grows Scottish arm

    13 Aug 2007

    pi Financial has picked up three more financial advisers from Scottish firm Your Financial Matters.

  • PMPA appoints rival packager director as managing director

    13 Aug 2007

    The Professional Mortgage Packagers Alliance has announced the appointment of Eddie Smith as its new managing director.

  • Political regulation war on the way?

    13 Aug 2007

    The political fight to woo the industry and be seen as the masters of deregulation will move up a gear this week with the publication of the Conservative Party’s Economic Competitiveness report.

  • Poll surveys faith in a cure for cancer

    9 Aug 2007

    A Legal & General survey has found that 92 per cent of people do not think there will be a cure for cancer in the next 10 years, 27 per cent don't think there will be a cure in 50 years and 17 per cent believe a cure will never be found.

  • Pot luck

    9 Aug 2007

    The significance of at-retirement planning is still lost on many people

  • PPF aims to create more stability through three year estimates

    8 Aug 2007

    The Pension Protection Fund is consulting on setting its levies for three years to improve stability for schemes.

  • Premier critical of league tables

    9 Aug 2007

    Premier Fund Managers is warning against buying funds of funds on the basis of sector rankings and says there is a case for banning performance tables.

  • Premier fails in initial MBO move

    13 Aug 2007

    The proposed management buyout of Premier Asset Management has come under threat today after the group attracted less than half the required shareholder support.

  • Premier wins fight to use PMS name

    9 Aug 2007

    Premier Mortgage Service has secured the name PMS as a trademark after a lengthy battle to prevent other companies using the title.

  • Providers buying distribution to create market dominating DSFs, says Scot Life

    13 Aug 2007

    Scottish Life says the recent rash of insurers buying up distribution is part of strategy aimed at creating a new breed of direct sales forces to try and dominate the advice market.

  • Providers urged to ensure clients have realistic goals

    9 Aug 2007

    The Association of British Insurers' customer impact panel is urging product providers across financial services to do more to ensure that customers have realistic expectations about performance.

  • Pru hedges corporate bond exposure due to concerns over private equity

    9 Aug 2007

    Prudential had hedged the corporate bond exposure within its £73bn with-profits fund amid concerns about the impact of private equity on the markets.

  • Pru launches factory-gate priced model

    13 Aug 2007

    Prudential has launched a factory-gate priced remuneration model to its investment portfolio after research showed 65 per cent of advisers believe the model will ensure greater transparency.

  • PTA alert as the pipeline closes for business

    9 Aug 2007

    Bright Grey is urging brokers to make sure their clients know that if they let a pensions term assurance policy with tax relief lapse, they will not be able to reinstate it on the same basis.

  • Questions over reforms still need answering

    9 Aug 2007

    During the past couple of years we have read tome after tome from the FSA. It wants clarity and transparency from us yet hides behind smokescreens and mirrors in an attempt to thwart EU law.

  • Redwood’s group to propose flexible lifetime savings vehicle

    14 Aug 2007

    John Redwood’s Economic Competitiveness report will include proposals for a flexible lifetime savings account where funds can be accessed to buy a first home or pay for education.

  • Reliance Mutual takes Hearts in friendly first

    9 Aug 2007

    Reliance Mutual Insurance Society has bought friendly society Hearts of Oak.

  • Repo rise could be 'tip of the iceberg'

    9 Aug 2007

    Home repossessions soared by 30 per cent in the first half of the year and analysts warn the figures could continue to rise.

  • Resolution's superwoman

    9 Aug 2007

    With the industry eagerly anticipating the latest addition to Resolution's boutique ranks, the Diary can exclusively reveal that she will be the fund manager's first lady superhero.

  • Results season is upon us

    9 Aug 2007

    It is interim results season and my favourite time of year as I attempt to write up all the life company results usually on the same day and schedule phone calls with each of their head honchos.

  • Retail sales boost profits at F&C

    9 Aug 2007

    F&C Asset Management has reported profits of 7.9m boosted by a 23 per cent increase in retail sales compared with the same period last year.

  • Richard Thomas new chair of JFA

    14 Aug 2007

    Ogier partner Richard Thomas has been appointed the new chairman of the Jersey Funds Association after Gary Clark stood down.

  • Rock and a hard place for HBOS

    9 Aug 2007

    Tanya Powley analyses a mortgage market turn-round as Northern Rock's lending business has soared while giant HBOS has slumped

  • Royal Liver factsheet aims to end critical confusion

    9 Aug 2007

    Progress by Royal Liver has produced a factsheet amid concerns that many advisers are judging criticalillness products based on their Defaqto rating rather than by comparing features.

  • RSA to cut 700 jobs

    9 Aug 2007

    Royal & Sun Alliance is cutting 700 jobs in an attempt to minimise losses inflicted by the summer floods.Chief executive Andy Haste says 500 jobs will be axed in the UK and another 200 in Europe in an attempt to save £70m.The June floods set the insurer back £55m which contributed to its first-half operating profits dropping from £416m to £403m. The July floods cost RSA another £65m which will likely impact on the insurer's second-half profits.

  • Sants to speak at Aifa Annual Dinner

    14 Aug 2007

    New FSA chief executive Hector Sants will be the main speaker at this year’s Aifa Annual Dinner.

  • Scale of current credit fears last seen after 9/11, says F&C

    10 Aug 2007

    Volatility in the financial markets is at its greatest level since September 2001 with the market trading on fear, says F&C.

  • Securitisation crisis signals “major paradigm shift”, says Portman

    10 Aug 2007

    Securitisation lenders face difficult trading conditions in what will be a “major paradigm shift” in the UK mortgage market, says Portman Group Development Director Matthew Wyles.

  • Seize the opportunity

    9 Aug 2007

    Despite recent volatility in the financial markets, many experts stand firm in the belief that there is no need to panic and that the markets could yet provide rich pickings for investors Sarah Coles reports

  • Shareholders approve CSAM MM changes

    13 Aug 2007

    Shareholders in Credit Suisse’s multi-manager funds have given their approval for the group to consolidate its range and introduce a multi-asset diversified fund.

  • SimplyBiz backs Just Retirement annuity campaign

    14 Aug 2007

    SimplyBiz has joined Just Retirement’s Campaign for Better Annuities, a new initiative designed to raise awareness of key aspects of the annuity market and ensure people get the best possible income in retirement.

  • Standard sees 82% surge in Sipp sales

    9 Aug 2007

    Standard Life sales of Sipps soared by 82 per cent in the first half of the year, boosting UK life and pension sales by 45 per cent.

  • Stay the course

    9 Aug 2007

    Funds that perform constantly over the long term are key to successful fund selection

  • Stephen Kenny

    9 Aug 2007

    The chief executive of the Property Investment Market says it was in the late 1990s that he recognised the potential for promoting property investing via internet exchanges. Today, with consumers more confident over web-based transactions, he has signed up over 600 members to his exchange, which he claims offers more flexible and affordable access to property - with the benefits of Sipp availability as well. By Will Henley

  • Suitability letter guidance confirmed

    13 Aug 2007

    The FSA has published its guidelines for a simplified, less prescriptive version of the suitability letter as part of its final disclosure measures for the new conduct of business sourcebook.

  • Support for forced annuitisation halves

    9 Aug 2007

    Public acceptance of forced annuitisation has almost halved in the last seven years, according to Skandia.

  • Survey reveals multiple funds

    9 Aug 2007

    Over half of IFAs' clients have three or more pension funds, with just 12 per cent having only a single pension pot, according to MetLife.

  • Survey shows latent demand for advice could outstrip supply

    9 Aug 2007

    Four out of 10 of advisory firms believe small IFA businesses will go out of business over the next five to 10 years, according to research by JP Morgan Asset Management.

  • Taken to task

    9 Aug 2007

    In June, shortly before the FSA's retail distribution review was published, I wrote a column taking issue with financial advisers who criticised the menu system as if it were some alien construct that had offered them no benefits at all.

  • The bid issue

    9 Aug 2007

    UK property funds moving to a bid basis is not all that shocking. The worry is whether this creates panic among investors, forcing funds to sell assets and suspend dealing.

  • The simple life

    9 Aug 2007

    Businesses should fear the RDR if they cannot be bothered to progress

  • There’s nothing silly about summer 2007

    8 Aug 2007

    Between the RDR and the proposed merger of Friends Provident and Resolution it seems the summer silly season has been cancelled with no traditional rest for the wicked- advisers, providers, regulators and journalists alike.

  • Thinc Group buys employee benefits consultancy PIFC

    9 Aug 2007

    Thinc Group has acquired HR and employee benefits consultancy PIFC Consulting marking its first move into the corporate benefits market.

  • Threadneedle bolsters hedge fund business

    13 Aug 2007

    Threadneedle has added to its hedge fund business with the acquisition of emerging markets specialist firm Convivo Capital Management Limited.

  • Tierful ending

    9 Aug 2007

    The RDR document has been described as revolutionary. That it certainly is, but it is also deeply divisive. It is a product of flawed thinking, in fact a madcap scheme, a confused drawing, where few of the dots are joined up.

  • Time is needed to make fee move

    9 Aug 2007

    JP Morgan Asset Management has raised concerns that IFAs may not be given the time and regulatory support to move to the fee-based model favoured by the retail distribution review.

  • Tory group to call for repeal of mortgage regulation

    13 Aug 2007

    The Conservatives’ Economic Competitiveness Group looks set to advocate the removal of mortgage regulation as part of its radical report aimed at cutting £14bn a year through deregulation.

  • Treasury frozen out

    9 Aug 2007

    Considering the implications of the Arctic Systems case

  • Unity Homeloans closes sub-prime mortgage range

    10 Aug 2007

    Unity Homeloans has become the next lender to confirm it has closed its sub-prime mortgage product range to all new business with immediate effect.

  • Urch quitting Swip

    9 Aug 2007

    Scottish Widows Investment Partnership UK opportun-ities fund manager David Urch is leaving the firm after four years.

  • Urch to join Fidelity

    14 Aug 2007

    David Urch is to join Fidelity after announcing his decision to leave SWIP last week.

  • US economy fears are unfounded says Invesco

    14 Aug 2007

    Fears that the downturn in the US housing market will cause instability and retrenchment in the wider US economy may be unfounded, says Invesco Perpetual.

  • US sub-prime crisis hits UK shores

    10 Aug 2007

    What a week it has been in the mortgage market. Money Marketing revealed that DB Mortgages has withdrawn its entire sub-prime mortgage range in what commentators believe could be the first major sign of a credit crunch in the UK market following the deepening US sub-prime crisis.

  • Variable mortgages uptake sees 50 per cent increase says Spicerhaart

    8 Aug 2007

    The percentage of borrowers opting for variable mortgages has increased by 50 per cent in July, according to the Spicerhaart Financial Services monthly mortgage survey.

  • Vinke in the chain

    9 Aug 2007

    One of the questions that we often ask fund managers is do they have a distinct style bias towards value or growth when it comes to investing.

  • Volatile times

    9 Aug 2007

    In today's turbulent stockmarkets it is sensible to diversify into other assets with low volatility. An investment I particularly like is the EPIC Life Settlement fund managed by the EEA Fund Management group based in Guernsey.

  • Waiting for wave of wrap consolidation

    9 Aug 2007

    The growing number of wraps will only convince more advisers to delay choosing a single provider and wait for consolidation in the market, according to JP Morgan Asset Management.

  • 'Weak' FSA exits without action

    9 Aug 2007

    The FSA says it has achieved its aim with its probe into mortgage exit fees despite brokers branding it weak for failing to take action against lenders that continue to charge excessive fees.

  • Woodford fund tops white list

    9 Aug 2007

    Neil Woodford's Invesco Perpetual high-income fund tops Principal's latest equity income fund manager survey.

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