Money Marketing
9 April 2008

  • HBOS targets expats with offshore arm

    10 Apr 2008

    HBOS has launched Halifax International, an offshore savings arm for British expats. It is offering a variable web saver and a regular saver account denominated in sterling, euros or dollars.

  • 71% of advisers breaching TCF on wrap migration

    11 Apr 2008

    More than two thirds of advisers could be in breach of TCF as a result of the way they transfer clients onto a wrap platform, new research suggests.

  • A platform for change

    10 Apr 2008

    The FSA has warned that it has concerns about potential for conflicts of interest, extra consumer costs and inappropriate investment advice when using wrap platforms.

  • A shaw thing

    10 Apr 2008

    Sam Shaw is a reporter on Money MarketingI had dinner on Wednesday with the inimitable Ian McKenna, director of Financial Technology Research Centre, at Wolfe's, somewhere in between Holborn and Covent Garden. Apparently it used to be a club called Zanzibar back in the day. I can proudly say that I was not old enough to remember it the first time around. But from some of the stories, I kinda wish I was.

  • A&L reduces standard variable rate following base rate cut

    11 Apr 2008

    Alliance & Leicester is responding to the Bank of England's base rate cut this week by reducing the standard variable rate on its mortgages by 0.25 per cent.   The bank will be changing its SVR for existing mortgage customers from May 2 to 7.19 per cent, down 0.25 per cent from 7.44 per cent.

  • Abbey withdraws last 100% deal

    10 Apr 2008

    Abbey has pulled the last 100 per cent mortgage deal from the market. A spokesman says: "This is normal given the current market conditions and is in line with recent moves by other lenders."

  • ABI disappointed at Lord Hunt's dismissal of external appeals process

    9 Apr 2008

    The ABI says it is disappointed that Lord Hunt's review of the Financial Ombudsman Service dismisses the idea of an external appeals process.

  • Accord to withdraw products today

    11 Apr 2008

    Accord is withdrawing all of its prime fixed rate and tracker products at 1pm today.The lender only sent an email to brokers alerting them of these changes an hour before the deadline.It says that new products will be launched on April 14 but warns that not all products will be replaced.

  • Adiviser -Latest News - Test article

    15 Apr 2008

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  • Adviser fears allayed on offshore client tax

    10 Apr 2008

    The Treasury has allayed fears that advisers could be hit by changes to non-dom legislation by promising a tax exemption on fees paid by offshore clients.

  • Advisers told not to rush into wrap

    10 Apr 2008

    Clerical Medical is warning advisers against rushing into wrap by highlighting problems that Australian advisers are having with legacy books on failed platforms.

  • Aegon to launch variable annuity next month

    15 Apr 2008

    Aegon is understood to be launching a variable annuity product next month which follows on from its 5 for life product.

  • Aifa attacks Hunt Review

    11 Apr 2008

    The Association of Independent Financial Advisers has criticised the Hunt Review, saying that the industry was expecting a more comprehensive report.

  • Aifa praises new FSCS funding structure

    14 Apr 2008

    The Association of Independent Financial Advisers says the new funding structure of the Financial Services Compensation Scheme will see its members paying less towards the levy.

  • Allianz Global Investors - Allianz RCM Global Agricultural Trends Fund

    11 Apr 2008

    Allianz Global InvestorsAllianz RCM Global Agricultural Trends Fund

  • Application fees doubled on fixed rate mortgages, say mform.co.uk

    15 Apr 2008

    Application fees on the best buy fixed rate mortgage deals have nearly doubled in the past year, according to mform.co.uk.

  • Ashley Clark

    10 Apr 2008

    Ashley Clark is a man on a mission. The co-founder of www.need-anadviser.com says he wants to see low-cost, fee-based and instantly accessible advice available to everyone in the world and he says technology is the key to achieving this goal.

  • Assumptions bear no resemblance to reality

    10 Apr 2008

    Standard Life is not alone in rushing to defend investment bonds (Money Marketing, April 3) under the guise of educating the adviser. Clearly, they are an important source of profit for insurance companies - and with commission of about 7 per cent, an important source of profit for some IFAs.

  • At retirement market to double within five years

    11 Apr 2008

    Watson Wyatt predicts the at retirement market in the UK will more than double within five years to over £30bn a year.

  • AWD Chase De Vere will double adviser sales force

    14 Apr 2008

    AWD Chase De Vere has launched a new recruitment strategy that will look to double its adviser sales force by 2012.

  • Axa introduces roving underwriter service

    15 Apr 2008

    Axa has introduced a roving underwriter service where underwriters will visit advisers around the country to answer their queries.

  • Balanced view needed of bonds v mutual funds

    10 Apr 2008

    It is important that advisers consider the changes to capital gains tax in respect of the bond versus mutual fund debate.

  • Bank manager jailed after raiding dormant accounts

    10 Apr 2008

    A bank manager who stole over £40,000 from dormant accounts has been jailed for 14 months.

  • Bank of England cuts rates to 5%

    10 Apr 2008

    The Bank of England Monetary Policy Committee has cut interest rates by 0.25 per cent to 5 per cent today.

  • Bank of Ireland to withdraw range today

    10 Apr 2008

    Bank of Ireland has announced it will be withdrawing its existing range of products at 5pm today.

  • Be seen but not herd

    10 Apr 2008

    JK Galbraith said "In economics, the majority is always wrong." and the present state of the markets could prove to be an opportunity to test the worth of the economist's claim.

  • BNP Paribas in IMS multi-manager deal

    10 Apr 2008

    BNP Paribas Investment Partners has bought IMS in a bid to strengthen its position in the multi-manager market.

  • BNY Mellon appoints Gartmore's Paul Feeney

    11 Apr 2008

    BNY Mellon Asset Management has appointed former Gartmore head of distribution Paul Feeney.

  • Boost for longer-term availability

    10 Apr 2008

    Woolwich has introduced this 10-year fixed-rate deal to help boost the availability of longer-term mortgages at a time when there is increased volatility in the mortgage market.

  • Bradford & Bingley deny rights issue rumours

    14 Apr 2008

    Bradford & Bingley has denied reports that it is intending to issue equity capital through a rights issue.

  • Broker Talkback

    10 Apr 2008

    Do you agree with some mortgage networks' call for brokers to understand and make allowances for the strain being place on lenders by the credit crunch?

  • Brokers angry as First Direct shuts door to new borrowers

    10 Apr 2008

    Brokers have questioned First Direct's decision to stop lending to new customers rather than reprice its mortgage rate.

  • Brokers not intimidated by HSBC rate matcher deal

    9 Apr 2008

    Mortgage brokers are not concerned HSBC's directly sold rate matcher offer will lose them business despite many believing it is a good deal.

  • Brown Advisory announces US equity smaller companies launch

    14 Apr 2008

    Brown Advisory has announced the launch of a US equity smaller companies fund under the management of Tim Hathaway and Chris Berrier.

  • BT will ring changes with insurance hub

    10 Apr 2008

    British Telecom is planning to launch an insurance hub it believes will overhaul the entire telecommunications and technology infrastructure of the UK financial services industry.

  • BTL buckles in the crunch

    10 Apr 2008

    Until recently the buy-to-let sector was the one area that has held up under the pressure of the credit crunch. Lenders have been slower to tighten up criteria and restricting lending than in other sectors.

  • Canada Life appoints Roger Smith as product development manager

    9 Apr 2008

    Canada Life has appointed Roger Smith as new product development manager.

  • Canada Life offers capital protection on standard annuity

    10 Apr 2008

    Canada Life says it is the first provider to offer capital protection on its standard annuity contract.

  • Causes for concern

    10 Apr 2008

    So far this year, we have seen volatile stockmarkets, a painful credit crunch which still has to reveal its full damage and rising distribution costs.

  • Cheshire Building Society - 10-Year Fixed

    11 Apr 2008

    Cheshire Building Society10-Year Fixed

  • CML urges Mervyn King to show leadership

    11 Apr 2008

    The Council of Mortgage Lenders chairman Steven Crawshaw has urged Bank of England governor Mervyn King to show leadership in response to the credit crunch.

  • Cofunds plans 4,000 fund links for institutional investors

    14 Apr 2008

    Cofunds is adding 1,000 instruments to its existing range of differently priced fund links for institutional investors.

  • Collins Stewart launches new probate service

    9 Apr 2008

    Wealth management firm Collins Stewart has launched a probate service to accompany its existing inheritance tax and investment management services.

  • Combine harvester

    10 Apr 2008

    Our business was paper-based until 2003, when we discovered that the filing cabinets had much more office space than the staff.

  • Commercial property ready for a comeback?

    9 Apr 2008

    New Star chairman John Duffield is feeling bullish about UK commercial property again.

  • Conservatives attack Brown for ignoring IMF warnings

    11 Apr 2008

    The Conservatives have attacked Gordon Brown for ignoring early warnings about the economy from the International Monetary Fund.

  • Coventry Building Society - First Time Buyer 6.99% Fixed

    11 Apr 2008

    Coventry Building SocietyFirst Time Buyer 6.99% Fixed

  • Credit crunch dire for transactional advisers says Bradbury Hamilton

    10 Apr 2008

    Bradbury Hamilton believes the credit crunch could be "the final nail in the coffin" for transactional advisers.

  • Cru leads alliance to create national IFA

    10 Apr 2008

    Cru Investment Management director Jon Maguire is launching an alliance forum of adviser firms which aims to become a national IFA in three years.

  • Crunching the numbers

    10 Apr 2008

    Mortgage inter-mediaries have largely backed the open letter written to them by Premier Mortgage Service managing director John Malone that was published in Money Marketing last week.

  • CSC to praise regulation of CMCs

    15 Apr 2008

    The Claims Standard Council will praise the Ministry of Justice for regulating the claims management sector at the trade body’s annual conference in Manchester tomorrow.

  • Dawnay Day Quantum - Protected Commodities Dynamo

    11 Apr 2008

    Dawnay Day QuantumProtected Commodities Dynamo

  • Duffield sees comeback for commercial property

    10 Apr 2008

    New Star chairman John Duffield believes the tide has turned for UK commercial property.

  • Durell Software launches new fact find system

    14 Apr 2008

    Back office software provider Durrell Software is offering brokers a free fact find system.

  • Duty of care

    10 Apr 2008

    Between September and December last year, the FSA visited 100 advisory firms, mystery shopping 50 of them. This was part of its ongoing efforts to gauge firms' commitment to treating customers fairly and the overall quality of financial advice. The FSA has now released its preliminary findings.

  • EC poised to give GPP auto-enrolment the go-ahead

    10 Apr 2008

    The European Commission looks set to agree that employees can be auto-enrolled into group personal pensions when personal accounts are introduced in 2012. Money Marketing understands that the EC has already informally agreed that this can go ahead but that written confirmation is yet to be received by the Department for Work and Pensions.

  • EC set for agreement on auto-enrolment in GPPs

    10 Apr 2008

    The European Commission has informally agreed that emp-loyees can be auto-enrolled into group personal pensions when personal accounts are introduced in 2012, Money Marketing understands.

  • Editor’s view - Fair lending and foul lending / Time for Living Time?

    11 Apr 2008

    There has been a lot of talk of fairness and unfairness and mutterings of profiteering in the mortgage market. Having spoken to a few brokers, here is the editor’s tuppence worth.

  • Em chief denies it is the end for packagers

    10 Apr 2008

    Em financial managing dir-ector Roger Morris has dismissed warnings that the closure of Lehman Brothers' two UK subsidiaries, SPML and Preferred, could signal the final blow for the majority of packagers.

  • Facts of life

    10 Apr 2008

    Until now, the Pensions Bill currently passing through the House of Commons has mainly been about two things.

  • Financial services causes highest financial loss to consumers, says OFT

    15 Apr 2008

    More consumers suffer financial loss through dealings with financial services firms than any other product or service, according to the Office of Fair Trading.

  • Firms under fire for defending lenders

    10 Apr 2008

    SimplyBiz and Mortgage Next have hit out at an open letter to brokers signed by mortgage clubs and networks, suggesting its support for lenders shows a lack of loyalty to brokers and borrowers.

  • First loyalty should be to your customers

    10 Apr 2008

    I feel compelled to respond to the open letter to mortgage intermediaries printed in Money Marketing last week. Had it been two days earlier, I might have dismissed it as an April fool.

  • Forget about sympathy and get on with the job

    10 Apr 2008

    I was intrigued by the outpouring of sympathy for the plight of lenders, expressed by a number of distributors in an open letter to intermediaries.

  • FOS says Hunt recommendations have 'significant implications' for budget

    9 Apr 2008

    The Financial Ombudsman Service says that Lord Hunt's review of the FOS contains some radical recommendations which are big departures from current practice.

  • Friends Provident relaunches online centre for advisers

    14 Apr 2008

    Friends Provident has relaunched its online information centre with additional content for advisers including webcasts, podcasts and blogs.

  • Friends urged to rethink takeover

    10 Apr 2008

    JC Flowers is putting pressure on Friends Provident to reconsider its rejected 150p per share takeover bid, saying it has funding in place for a 3.5bn cash bid.

  • FSA fines Liberata £525,000 for system failures

    9 Apr 2008

    The FSA has fined third party administration firm Liberata Financial Services Limited £525,000 for failures in its systems and controls concerning documents for its life and pensions policyholders.

  • FSA to appeal Financial Services and Markets Tribunal decision

    10 Apr 2008

    The FSA has applied for permission to appeal Financial Services and Markets Tribunal decisions in relation to Leeds-based solicitor firm Fox Hayes.

  • FSCS levy set at £131.7m

    10 Apr 2008

    The Financial Services Compensation Scheme has set its levy for 2008/09 at £131.7m, with the industry set to pay an initial net levy of £28.3m in new money.

  • Funding gap of £81bn in 2008, says Ward

    15 Apr 2008

    New Star chief economist Simon Ward says there could be a potential funding gap of £81bn this year.

  • GE Money cuts BTL rates by 0.45%

    10 Apr 2008

    GE Money has cut its buy to let rates by up to 0.45 per cent.

  • GMAC-RFC to cut up to 280 jobs

    15 Apr 2008

    GMAC-RFC has confirmed it will be cutting up to 280 jobs, equating to 40 per cent of its workforce.

  • Godiva Mortgages - Credit Impaired Near Prime Full Status 6.75% Flexx Fixed

    11 Apr 2008

    Godiva MortgagesCredit Impaired Near Prime Full Status 6.75% Flexx Fixed

  • Green grosser

    10 Apr 2008

    Jupiter's £306m ecology fund celebrated its 20th anniversary last week.

  • Hambi replaced in Gartmore multi-manager restructure

    10 Apr 2008

    Gartmore head of multi-manager Bambos Hambi has been replaced by his deputy Tony Lanning in a restructure of the product range.

  • Hargreaves Lansdown’s Sipp investments leap 50%

    9 Apr 2008

    Hargreaves Lansdown’s third quarter revenue rose following growth across its private investor platform and advisory and discretionary divisions.

  • HBOS rejects repeat of 1990 housing crash

    10 Apr 2008

    HBOS chief economist Martin Ellis believes a repeat of the 1990s housing crash is extremely unlikely in the foreseeable future.

  • Held to account

    10 Apr 2008

    There is a lovely phrase - its provenance is somewhat uncertain - which is "the triumph of technique over purpose". It has many applications within and outside our industry and probably nowhere more so than with the FSA.

  • Helm Godfrey profits up 13 per cent

    15 Apr 2008

    Helm Godfrey has announced net profit growth of over 13 per cent from £660,000 in 2006 to £744,000 last year.

  • Hip takeover for Green CO2

    10 Apr 2008

    Former Thinc Destini executive deputy chairman David Collett has taken control of socially-responsible Hip provider Green CO2 in a reverse takeover of his firm Innovative Hips.

  • Home loans down by third on 2007

    10 Apr 2008

    The Council of Mortgage Lenders says the number of loans taken out for house purchase in each of the last three months was more than 30 per cent down on the same period last year. It predicts this decline will continue throughout 2008.

  • House prices down 2.5% in March

    10 Apr 2008

    House prices fell by 2.5 per cent in March, the biggest monthly decline since September 1992, according to Halifax.

  • HSBC extends rate matcher deal to all UK homeowners

    9 Apr 2008

    HSBC has extended its mortgage Rate Matcher offer to all UK homeowners from April 14.

  • HSBC loses data on 370,000 customers

    10 Apr 2008

    HSBC has lost a disk containing personal details of 370,000 customers after sending it via unregistered mail to Swiss Re. It includes customer names, dates of birth and health information but not addresses or bank account details.

  • Hunt Review of FOS calls for crackdown on claims chasers

    9 Apr 2008

    Lord Hunt has recommended the Financial Ombudsman Service introduces a case fee for vexatious claims put forward by claims chasers and called for a crackdown on the way they advertise.

  • India insight

    10 Apr 2008

    I am not normally keen on single-country funds but I believe that the new Jupiter India fund offers outstanding opportunities.

  • Industry facing £28m FSCS levy

    10 Apr 2008

    The financial services industry will be asked to contribute £28.3m towards the Financial Services Compensation Scheme levy for 2008/09, down by £2.4m from original estimates.

  • Invesco boosts AJ Bell stake

    10 Apr 2008

    Invesco Perpetual has pumped a further £9.4m into AJ Bell, valuing the business at £107m.

  • Invesco set to boost international range

    10 Apr 2008

    Invesco Perpetual is investigating the launch of a number of international offerings in a bid to return its international range to the forefront of its business.

  • It pays to Pioneer

    15 Apr 2008

    The champion of the week is Pioneer, which paid out on 96 per cent of income protection claims last year.

  • JC Flowers could abandon chase for Friends

    11 Apr 2008

    JC Flowers could walk away from a potential deal with Friends Provident before the end of the month deadline which has been imposed by the embattled life insurer.

  • JC Flowers will not increase offer for Friends

    14 Apr 2008

    JC Flowers is refusing to increase its 150 pence per share offer for Friends Provident and says it will withdraw its proposal by the end of this week if the life office does not enter into discussions.

  • JOHCM entices Chris Lees to launch new strategies

    9 Apr 2008

    J O Hambro Capital Management has poached AAA rated fund manager Chris Lees from Baring Asset Management to launch its global and EAFE strategies.

  • JP Morgan fund aiming to tap into global trends

    10 Apr 2008

    JP Morgan has launched a fund that taps into the growing consumer and behavioural patterns in both Western and Eastern markets.

  • Kensington's April BTL tranche already full

    10 Apr 2008

    Kensington has told brokers that its tranche of funds available for direct applications for its prime buy to let range is full for April.It says new products will be available for brokers that submit direct to Kensington from May 1.Funds which have been booked by submitting online before 4.30pm today will be processed on its existing rates.

  • King called on to back British economy

    10 Apr 2008

    Alexander Hall chief operating officer Andy Pratt is calling on Bank of England governor Mervyn King to show solid support for the UK economy.

  • Kingfisher appoints Hargreaves Lansdown as group Sipp provider

    9 Apr 2008

    Home improvements retailer Kingfisher has appointed Hargreaves Lansdown as its group Sipp provider. The new scheme is being set up initially to accommodate maturing shares and AVC contributions. The scheme will run alongside Kingfisher’s existing closed defined benefits scheme, and its open defined contribution scheme run by Standard Life.

  • Leadership qualities

    10 Apr 2008

    The mortgage industry is not in the business of offering charity. There is regulation to be adhered to, there are customers or clients - take your pick of the terminology - to be served and serviced. There is money to be made within the law and within regulations.

  • Legal & General - Growth Investment Plan Plus 13

    11 Apr 2008

    Legal & GeneralGrowth Investment Plan Plus 13

  • Lyxor Asset Management - Lyxor ETF Dow Jones Industrial Average

    11 Apr 2008

    Lyxor Asset ManagementLyxor ETF Dow Jones Industrial Average

  • Lyxor Asset Management - Lyxor ETF MSCI World

    11 Apr 2008

    Lyxor Asset ManagementLyxor ETF MSCI World

  • Maximum impact from Impax

    11 Apr 2008

    Specialist environmental manager Impax Asset Management has introduced a fund that will invest globally in big and medium-sized companies that are developing products or services to solve the world’s environmental problems.

  • Money Marketing Markets: ‘Rate cuts, Libor and teacakes’

    11 Apr 2008

    Even the Bank of England’s Wednesday interest rate cut could not save the market from falling this week and its lack of impact is indicative of the problems in the banking sector.

  • 'More will follow HBOS loan move'

    10 Apr 2008

    Mortgage brokers have warned that more lenders will follow HBOS's decision to penalise borrowers who have deposits of less than 25 per cent.

  • MPs lack business experience

    10 Apr 2008

    Nearly three-quarters of politicians have no experience in business management or financial services, according to Parliamentary research.

  • Multi-asset fund makes the grade

    10 Apr 2008

    Multi-asset specialist Tactica has made its debut into the UK retail market with a range of risk-graded Oeics, which invest directly in a range of asset classes and through investment funds. One of them is the the S&W Tactica growth portfolio.

  • Nationwide withdraws selected fixed rate products

    10 Apr 2008

    Nationwide has withdrawn a selection of its fixed rate products and its open market home buy scheme.

  • Neptune hires ex Barclays md Richard Green

    11 Apr 2008

    Neptune Investment Management has appointed former Barclays UK managing director Richard Green to the role of corporate development director.

  • New firm could take 7IM stake

    10 Apr 2008

    Speculation is mounting that another firm is to take a stake in Seven Investment Management in a move that could see Zurich dilute its current 49 per cent holding.

  • New Star appoints three fund managers

    10 Apr 2008

    New Star has appointed three fund managers in a bid to boost performance across some of the funds in its range. Ex-Barings UK income specialist Charles Deptford and Allianz RCM fund manager Trevor Green will both join the UK desk. BDT fund manager David Cornell joins the emerging markets desk.

  • New Star books a passage to India

    10 Apr 2008

    New Star chairman John Duffield says setting up a joint venture with India's biggest private company could save it up to 15 years groundwork in the Indian market.

  • NLA launches buy-to-let service

    14 Apr 2008

    The National Landlords Association has launched a free service that enables landlords to source a range of buy-to-let mortgage products from a panel of lenders.

  • NU academy signs up 550 in its first week

    10 Apr 2008

    Over 550 advisers have joined Norwich Union's Financial Adviser Academy in its first week.

  • Objectivity holds the key

    10 Apr 2008

    A consequence of principle-based regulation is that interpretations of principles can vary enormously and this carries the risk of market failure. This is why the original platform paper highlighted, among others, two potential causes of market or regulatory failure.

  • Offshore foundations key to avoiding non-dom tax, says SCF Group

    9 Apr 2008

    Private interest foundations could allow non-doms to retain tax benefits and avoid the need to pay the new £30,000 tax exemption fee recently imposed by the Government.

  • On the Way to a winning combination

    10 Apr 2008

    The Way Group has appointed T Bailey fund manager Jason Britton to run the Way MA growth portfolio, its first fund in a range of multi-asset portfolios.

  • Open doors to closed books

    10 Apr 2008

    Recent research by Ernst & Young has identified that there is over £250bn of assets in closed funds.

  • Osborne pushes collateral swap programme

    14 Apr 2008

    Conservative Shadow Chancellor George Osborne has called for a broader collateral swap programme to combat the credit crunch.

  • Pain speaking

    10 Apr 2008

    By the middle of last week, markets were feeling a little calmer and it was beginning to look as though the FTSE was capable of climbing above 6,000. However, the fact remains that news is still not improving. With UBS announcing further write-offs and its chief executive falling on his sword, it is clear that turmoil in credit markets has some way to run yet. In the UK, we saw the fourth consecutive month of falling house prices and the number of lenders withdrawing their mortgage products ...

  • Panic button

    10 Apr 2008

    Every now and then I find myself on the receiving end of a tidal wave of emails from readers keen to correct any wrong points made in one of my columns.

  • Pension Corp waters down plans for Telent scheme

    14 Apr 2008

    The Pension Corporation has agreed to water down its plans for the Telent pension scheme after a six month battle with the Pensions Regulator.

  • Pension is the drug and I need to score

    10 Apr 2008

    Some people go to great lengths to supplement their income in retirement and a pensioner who is facing jail for dealing heroin is an extreme case in point.

  • Pioneer paid 96% of income protection claims in 2007

    9 Apr 2008

    Pioneer paid out on 96 per cent of income protection claims last year, down from 97 per cent in 2006.

  • Plum launches commission matching software

    15 Apr 2008

    Plum Software has released a new application which it says makes the process of matching commission statements against expected income “virtually instantaneous”.

  • Positive response

    10 Apr 2008

    Conditions in financial markets remain difficult and the volatility that has been with us for the last year or so continues to be a feature. Sharp swings in market indices are occurring on an almost daily basis as investors react to the latest set of economic data or corporate news release.

  • Positive Solutions' Reeve joins Aifa council

    10 Apr 2008

    Positive Solutions chief executive Jim Reeve has been co-opted to the Aifa council.

  • Proc fees set to be slashed

    10 Apr 2008

    Independent mortgage consultant Kevin Duffy is warning that procuration fees could be cut in the next wave of belt tightening to hit the industry.

  • Product matters - Simon Webster

    10 Apr 2008

    Places for People and the Co-operative Bank in conjunction with HomeBuy have come up with something for those trying to get on to the housing ladder.

  • Professional bodies sign declaration on standards

    10 Apr 2008

    Four professional bodies, including the Chartered Insurance Institute and the Institute of Financial Planning, have signed a joint declaration of principles setting out how they will supervise advisers in the future.

  • Protection points

    10 Apr 2008

    With the Budget out of the way and spring rolling round, a new tax year is upon us and talk of tax, tax forms, tax breaks - the list goes on - fills the money section newspaper columns.

  • Prudential draws up shortlist for new chairman

    15 Apr 2008

    Prudential is thought to have drawn up a shortlist of potential candidates to take over from chairman Sir David Clementi before the end of the year.

  • Range of options from Lehman Bros

    11 Apr 2008

    Lehman Brothers has brought out the enhanced deposit plan, a FTSE 100-linked guaranteed equities bond with two investment options.

  • Rate changes a go-go

    11 Apr 2008

    Mortgage brokers are continuing to deal with the difficult task of finding mortgages for their clients in an environment which sees some lenders reprice up to three times a week.

  • RBS cuts up to 200 jobs

    10 Apr 2008

    Royal Bank of Scotland has cut up to 200 jobs in its corporate banking division.The job cuts will hit its mortgage-backed securities division, leveraged loans and property finance.It is understood staff were told this week.

  • Record numbers of chartered surveyors report house price fall

    15 Apr 2008

    A record number of chartered surveyors have reported a fall in house prices with little expectation that demand will improve, according to the latest RICS survey for March.

  • Research and deliver

    10 Apr 2008

    The number of best advice systems has increased considerably over recent years.

  • Richard Lloyd quits Schroders

    15 Apr 2008

    Schroders co-head of structured investments Richard Lloyd has quit the firm after 11 years.

  • RPC hits out at Hunt Review recommendations

    11 Apr 2008

    The Hunt Review’s proposal to award wooden spoons to firms with particularly poor complaints records would put unfair pressure on companies not to oppose complaints, says law firm Reynolds Porter Chamberlain.

  • Sanlam acquires 60 per cent stake in Buckles

    11 Apr 2008

    South African financial services group Sanlam has acquired a 60 per cent stake in adviser firm Buckles.

  • Scot Wids adds income drawdown to retirement accoun

    11 Apr 2008

    Scottish Widows has added retirement income, an unsecured personal pension option, to its retirement account.

  • Sense of gilt

    10 Apr 2008

    In recent weeks, the gilt market has been mov-ing to a global rhythm rather than a specifically UK one. The UK has its own market idiosyncrasies which are apparent in the shape of the UK gilt yield curve compared with the US and European curves but the dominant global theme remains the credit crisis and the liquidity crunch accompanying it.

  • Setting sales

    10 Apr 2008

    Does the regulator believe that financial services and products are bought or that they are sold?

  • Seven uses ETFs for passive fund range

    10 Apr 2008

    Seven Investment Management believes the introduction of its asset-allocated passive funds of funds is part of a Darwinian evolution of the multi-manager concept.

  • Shareholders to vote on Transact's future

    10 Apr 2008

    A decision to float or sell Transact could be made in the next month as shareholders meet to vote on the future of the platform.

  • Shepherds Friendly - Mortgage Payment Protection Insurance

    11 Apr 2008

    Shepherds FriendlyMortgage Payment Protection Insuranc

  • Skandia announces best ideas manager meet and greet

    11 Apr 2008

    Skandia Investment Management is giving advisers a chance to meet and greet some of the managers behind its Best Ideas funds.

  • Skandia fund is too alternative for some advisers

    10 Apr 2008

    Advisers have given a lukewarm response to plans from Skandia Investment Group to bring out a multi-manager alternatives fund.

  • Skandia launches new European Best Ideas fund

    11 Apr 2008

    Skandia is adding to its selection of Best Ideas multi-manager funds with the launch of a new European fund.

  • Skipton takes 75% stake in Scottish IFA

    10 Apr 2008

    Skipton Building Society has bought a 75 per cent stake in Scottish IFA firm Thomson Shepherd which completes its current phase of expansion, having recently bought 85 per cent of Torquil Clark.

  • Smart thinking

    10 Apr 2008

    Two strands of industry comment have drawn my interest in the last few weeks. They involve the re-emergence of broker funds and the question of whether platform users can justify higher charges.

  • Spink to implement Rock reforms at FSA

    10 Apr 2008

    The FSA has formed a team of nine internal staff to implement the recommendations made following its investigations into Northern Rock. It will be led by head of supervision for small mortgage firms and credit unions Mandy Spink.

  • Stagecoach to use Sipp as default fund

    10 Apr 2008

    Stagecoach Group has become the first major employer to ditch its stakeholder scheme and use a group Sipp as its default option for employees.

  • Standard Life global Reit leaps into Baltic Sea

    10 Apr 2008

    Standard Life Investments has signed an agreement with financial group Nordea to distribute its Global Reit Focus fund in the Nordic and Baltic Sea region.

  • Survey shows HMRC staff disgruntled

    10 Apr 2008

    Sixty per cent of HM Revenue and Customs staff would not recommend the department as a good place to work according to an internal staff survey.

  • SVM offers cautious and balanced fund

    10 Apr 2008

    SVM Asset Management will launch cautious and balanced managed vehicles next month. The funds will be headed by managing director Colin McLean together with co-founder Donald Robertson.

  • T.Bailey goes for the right Way to Invest

    11 Apr 2008

    The Way GroupWay MA Growth Portfolio

  • Tactica goes for natural progression

    11 Apr 2008

    Tactica Fund Management UKS&W Tactica Growth Portfolio

  • Thames River tips smaller firms for return to form

    10 Apr 2008

    Thames River Capital's multi-manager team says funds focused on mid and small caps are a potential investment opportunity.

  • The efficient frontier spirit

    10 Apr 2008

    The importance of risk profiling and asset allocation to financial advisers has grown considerably in recent years. This is due in no small part to the decline in guaranteed products - particularly with-profits, which historically combined the benefits of equity investment and safety.

  • The Hunt is on

    14 Apr 2008

    Lord Hunt's review into the Financial Ombudsman service has ruffled more than a few feathers on both sides of the divide.

  • The last waltz?

    10 Apr 2008

    I am an Australian national and a UK non-domicile for tax purposes. Is there any point in me maintaining an offshore trust? What should I do with my other overseas assets following the new tax rules that have recently come into force?

  • The mean season

    10 Apr 2008

    It was a decent headline grabber at the time. Mike Webb, the former head of retail at Invesco Perpetual, proclaimed: "We could lose a generation of investors."

  • The Way Group - Way MA Growth Portfolio

    11 Apr 2008

    The Way GroupWay MA Growth Portfolio

  • Thinc spree continues with FS3 acquisition

    10 Apr 2008

    Thinc Group has acquired Southampton-based IFA firm FS3 as it continues its financial planning acquisition spree.

  • Thirty dancing

    10 Apr 2008

    Much attention has been given to the proposed new provisions for the additional charge payable by long-term UK residents who are either not UK-domiciled or not UK ordinarily resident and who wish to use the favourable remittance basis for income and gains arising overseas.

  • Tisa establishing retirement council

    10 Apr 2008

    Tisa is establishing a retirement advisory council, to be chaired by Standard Life head of pensions policy John Lawson. The council will lead Tisa's work on personal and corporate pensions and other long-term savings issues.

  • Tracker rates edge above SVRs

    10 Apr 2008

    Lenders' standard variable rates are beginning to look more competitive than some of their other products as they try to limit levels of new business.

  • Treasury appoints Crosby to chair credit crunch working group

    9 Apr 2008

    Former HBOS chief executive Sir James Crosby has signed on to chair a Treasury credit crunch working group.

  • Troubled times bring challenges

    10 Apr 2008

    The current liquidity crisis looks set to be worse than the fallout from the crash of technology stocks and it could be at least two years before the market recovers, according to a Morgan Stanley/Oliver Wyman report into the state of banking and financials stocks.

  • UNIFi Partners opens its unsecured portal

    10 Apr 2008

    UNIFi Partners has announced it is to open its unsecured portal to affinity partners.

  • VCTs dip by 25%

    10 Apr 2008

    Venture capital trusts have seen a fall of over 25 per cent in new investments for 2007/08.

  • Ward calls for coordinated action by BoE and DMO

    11 Apr 2008

    New Star chief economist Simon Ward has called for coordinated action by the Bank of England and Debt Management Office to extend up to £40bn of longer-term funding to banks to finance mortgage lending.

  • Warning of broad brush approach to bonds

    10 Apr 2008

    Advisers have warned life offices against using a "broad brush" approach to promote the benefits of bonds over mutual funds for self-preservation purposes following the capital gains tax changes.

  • Whose conflict is it anyway?

    10 Apr 2008

    Having read and listened to some of the more bizarre, misleading and ultimately misguided mutterings on the subject of "conflict of interest" as it relates to the ownership of wrap platforms, I hugely welcome this opportunity to pen a few words.

  • Woodford warns against deserting equities

    10 Apr 2008

    Invesco Perpetual head of investment Neil Woodford has called on investors to resist deserting equities in the current economic environment.

  • Woolwich cuts SVR by 0.25%

    10 Apr 2008

    Woolwich will be cutting its Standard Variable Rate by 0.25 per cent following the Bank of England’s base rate decision today. This will see its SVR reduce from 7.39 per cent to 7.14 per cent.As well as the cut in SVR, all customers on Barclays Bank Base Rate trackers will see their rates cut by 0.25 per cent.Existing customers will see the reduction in effect from May 1. New customers will see a cut in Barclays’ tracker rates from April 11 and SVR on May 1.

  • Woolwich helps long-term boost

    11 Apr 2008

    Woolwich10-Year Fixed Rate

  • Work together

    10 Apr 2008

    I have been quick to criticise the doom-mongers in the past who have been talking the mortgage market down and negatively affecting overall consumer confidence.

  • Wrap - This week's issue - article - test

    11 Apr 2008

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  • Yield of dreams

    10 Apr 2008

    Generally speaking, UK high-yielding shares have had a torrid time during the past year or so. Funds that specialise in this area have had one of their worst years since the end of the last century.

  • Yorkshire BS to open two new branches

    15 Apr 2008

    Yorkshire Building Society will be opening two new branches this year, taking its number of branches up to 136.

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