Money Marketing
9 September 2010

  • Don't confuse Nest with auto-enrol

    9 September 2010

    Ian McKenna has fundamentally misunderstood both the 2012 pension reforms and the ABI’s position on auto-enrolment. First, Nest and auto-enrolment are not the same - the radical reform for 2012 is auto-enrolment, of which Nest is a part.

  • A mission to save

    9 Sep 2010

    Sesame’s Ivan Martin says the RDR has lost sight of its key objectives and it is time for the regulator to have a statutory objective of improving the savings ratio.

  • Aberdeen says emerging market bonds are safe for cautious fund

    9 September 2010

    Aberdeen’s multi-manager team has defended the introduction of an emerging market bond fund within its £244m cautious portfolio.The team has added a 2 per cent holding in the BlueBay emerging market select bond fund managed by David Dowsett.

  • Across the great divide

    9 September 2010

    Should Stephen Gay’s product provider background have precluded him from becoming the new director general of the Association of IFAs?

  • Adviser Fund Index

    9 September 2010

    Concern that the recovery in developed economies may be faltering is driving bond spreads to levels not seen since the worst of the credit crunch.Investors fear the divergence points to a longer-term trend. The bad news has focused on America, where home sales figures came in much weaker than expected. The US also suffered a sharp downward revision in GDP growth figures for the second quarter from 2.4 per cent to 1.6 per cent.

  • Advisers hope navigator Gay will steer them on right course

    9 Sep 2010

    Gay: ‘He is a navigator of issues’

  • AES Intl calls in specialist to mitigate Qrops risks

    9 September 2010

    AES International says it is commissioning external actuarial reviews before providing Qrops advice to clients to mitigate risk issues around the product.

  • Another Bric in the wall

    13 Sep 2010

    Chris Salih on Castlestone’s Next 11, a fund offering a way to tap newly emerging economies

  • AWD Chase de Vere in Quality deal for referrals

    9 Sep 2010

    AWD Chase de Vere has teamed up with law firm Quality Solicitors to provide a reciprocal referral service for clients.

  • Axa keeps corporate wrap capability

    9 Sep 2010

    Axa Wealth may resurrect plans to launch a corporate wrap.

  • Bateman heads Euro equities at Schroders

    9 September 2010

    Schroders has appointed Rory Bateman as head of European equities, replacing Gary Clarke, who left the firm in May to join JP Morgan.

  • BlackRock renames income fund

    9 September 2010

    BlackRock is renaming its £103m high income bond fund as part of a range of changes to the fund.

  • Blair says he came up with idea of an independent Bank of England in 1995

    9 September 2010

    Tony Blair claims he suggested the idea of giving the Bank of England independence to set monetary policy to Gordon Brown.

  • Bloxham says the focus is on Midas absolute

    9 September 2010

    Irish equity specialist Bloxham says that multi-managers are showing interest in its Midas global absolute return fund due to the underperformance of other funds in the sector.

  • Brokers must survive the 18-month time capsule

    10 Sep 2010

    Kevin Duffy says that those brokers who survive over the next 18 months willl emerge with great business prospects.

  • Brown's pension threat

    9 September 2010

  • Campaign: Give the regulator an objective to boost saving

    9 Sep 2010

    Money Marketing launches Pave The Way To Save campaign, calling for a more constructive approach to regulation.

  • Caution to the winds

    13 Sep 2010

    Paul Farrow says a bank’s advice could have put a 70-year-old investor’s cash at risk

  • Consumer concern

    9 Sep 2010

    Origen’s Stephen Greenstreet says fears about the switch to the CPI are escalating.

  • Control points

    9 September 2010

    After the first IFA fine over platforms, FSA conduct and risk division supervisor Rory Percival gives an overview of the key issues to be considered when using platforms

  • Correlation street

    9 September 2010

    We have witnessed some of the highest levels of stock correlations for years both in developed and emerging markets. Correlation can be defined as the closeness of returns by two individual stocks or a stock and market. Markets are described as having high correlations if, when one market is affected by a particular event, others react too.

  • Coury quits as dual roles lead to conflict of interest

    9 September 2010

    Malcolm Coury, a director of Moneywise IFA and a non-executive director of Ascentric, stepped down from his role at the platform after the FSA highlighted the conflict of interest.

  • Critical decisions on platform choice

    9 September 2010

    The recent announce-ment that the FSA was to fine a firm because of its advice failings when using a plat-form will produce sharp intakes of breath among many firms.

  • Cummings' fears have been allayed

    9 September 2010

    Outgoing Aifa director general Chris Cummings says he had misgivings over the use of platforms, fearing their take-up would lead to generic systems being forced on advisers.

  • Danger of over-regulation

    9 September 2010

    Over-regulation poses dangers as a response to the economic crisis, according to Tony Blair in his autobiography.

  • David Miliband wins backing

    9 September 2010

    The Blair memoirs, released on the day that ballot papers for Labour’s leadership campaign were sent out, contains reflections on some of the candidates.

  • Diamond to take over as Barclays chief executive

    9 September 2010

    Barclays president and chief executive of corporate and investment banking Bob Diamond will replace John Varley as the bank’s chief executive next March.

  • Divorce and disclosure

    9 September 2010

    A recent court ruling has blocked use of documents that have been obtained in a way that breaches confidentiality

  • EU creates new finance watchdogs

    9 September 2010

    A new European Systemic Risk Council and three new watchdogs covering banking, insurance and securities markets will oversee financial services across the European Union.

  • Euro body aims to help non-UK firms win Sipp business

    9 September 2010

    The Federation of European Independent Financial Advisers says it can offer help to international adviser firms which have had their requests for Sipp business rejected by providers.

  • Expats face 55% hit as HK Qrops loses status

    9 September 2010

    Expat UK investors who had their pensions transferred into a tax scheme in Hong Kong face losing 55 per cent of their savings as HMRC has crossed the scheme off its approved list.

  • Ex-pats snub offshore investments and send their savings home

    9 September 2010

    Ex-pat investors are underusing the offshore savings and investment centres that are available to them, according to HSBC.

  • Expense ratios on rise for investment trusts

    9 Sep 2010

    TERs jump despite increased scrutiny.

  • Firm sets up NZ deal

    9 September 2010

    Offshore Qrops has launched a New Zealand scheme allowing UK savers to transfer their pensions into a registered superannuation in the country.

  • FSA says all firms failed platform test

    9 September 2010

    The FSA has expressed concern at the inadequate systems and controls of firms using platforms in the wake of the regulator’s platform thematic review.

  • Function malfunction

    9 September 2010

    Am I the only broker appalled at the lack of useful functionality on the Fidelity FundsNetworks website?

  • Fund stars to get lock-in equity share

    9 September 2010

    Gartmore has awarded 3.5 per cent of the company’s equity to leading members of staff in a bid to lock them into the business.

  • G7 economic growth slowing, says OECD

    9 Sep 2010

    UK GDP growth healthier than most but growth is slowing fast, according to the international think tank.

  • Giving the CPMA a competition objective would be a mistake

    13 Sep 2010

    Chris Gilchrist says that if we want a more competitive market in financial services we have to remove a number of obstacles.

  • Global bond business hits record high

    9 September 2010

    Demand for corporate bond funds doubled between June and July, according to the latest Investment Management Association statistics.

  • Hawksmoor counters cautious claims

    9 September 2010

    Multi-manager Hawksmoor believes it is difficult, if not impossible, to legislate that a fund is being managed cautiously.

  • Higher ground

    10 Sep 2010

    Tax savings can be made by donating to charity both in terms of income tax and capital gains tax.

  • Hornbuckle Mitchell makes plea to protect pensions in LTA cut

    9 Sep 2010

    Hornbuckle Mitchell is calling on the Government to introduce additional protection requirements to shield investors if it presses ahead with plans to reduce the lifetime allowance from £1.8m to £1.5m.

  • HSBC chairman Green becomes trade minister

    9 September 2010

    HSBC chairman Stephen Green is quitting to take up the unpaid Government role of trade and investment minister.

  • IMF calls for tax evasion crackdown

    9 September 2010

    The International Monetary Fund has called for a crackdown on cross-border tax evasion and suggested the creation of a World Tax Organisation to co-ordinate efforts.

  • Is Australia still right for Qrops?

    9 September 2010

    Davies’ VIEW Although qualifying recognised overseas pension schemes were arguably born Down Under, we may now be seeing a swing away from funds being transferred to Australia.

  • Is it time for QE2?

    9 Sep 2010

    Should the MPC embark on a second round of fiscal stimulus?

  • Leaviss for M&G new bond fund

    9 September 2010

    M&G Investments head of retail fixed income Jim Leaviss is to hand his highyield corporate bond fund to Stefan Isaacs to focus on M&G’s new UK inflationlinked corporate bond fund.

  • Link-up for advice website

    10 Sep 2010

    Personal finance website Interactive Investor has teamed up with IFA firm Lee Associates to offer a new online service.

  • Liontrust duo back with new absolute return funds

    9 Sep 2010

    Lang and Pattisson hope to get FSA approval for trio of launches later this month.

  • LV= looks to build protection arm as market consolidates

    9 Sep 2010

    LV= is eyeing acquisition opportunities in the protection and retirement sectors

  • M&G moves to stop exit from property fund

    9 September 2010

    M&G has moved to deter clients from exiting its £360m Guernsey-based property fund by temporarily cutting the value of its units after its liquidity levels dwindled.

  • 'Maddening but still best Chancellor'

    9 September 2010

    Tony Blair has laid bare his rocky relationship with Chancellor Gordon Brown.

  • Make a clean break

    9 September 2010

    John Cassidy, tax investigations partner at PKF (UK) LLP, explains the benefits of using the ground-breaking agreement between HMRC and Liechtenstein to come clean on tax arrears

  • Make saving the goal

    9 Sep 2010

    CPMA should be given statutory objective of increasing the savings rate.

  • Moneywise first IFA to be fined over platform use

    9 September 2010

    The FSA has issued its first IFA fine related to platform advice after Moneywise IFA was hit with a £19,600 penalty over compliance failings on its use of platforms and discretionary portfolios.

  • Mortgage Advice Bureau sets up wealth arm

    10 Sep 2010

    The Mortgage Advice Bureau has launched a wealth management service.

  • Multi-manager chief Cheeseman quits F&C as funds go to Thames

    9 September 2010

    F&C head of multi-manager Dean Cheeseman is to leave the firm as his retail range passes over to Thames River Capital.

  • New world symphony

    13 Sep 2010

    The manager of the £1bn Murray International Investment Trust believes emerging markets have decoup led from the West and can continue with impressive growth

  • Newton's high flier

    13 Sep 2010

    10 MINUTES WITH… TINEKE FRIKKEE

  • OBR chief must be a quarter master

    9 September 2010

    With Chancellor George Osborne interviewing candidates to run the Office of Budget Responsibility, City headhunter John Purcell, founder of Purcell & Co, on why IFS director Robert Chote seems the ideal man for the job

  • Odd couple was a blunder

    9 September 2010

    The New Labour administration’s first welfare ministerial team was a “dating agency from hell mistake”.

  • Out of Context

    9 September 2010

    “If anybody’s phone goes off, they will be subject to the Aifa fine, which will directly contribute to the director-general’s leaving fund.”

  • Payback time

    10 Sep 2010

    FSA data shows increasing numbers of borrowers with interest-only mortgages without a designated repayment vehicle, reports Paul Thomas

  • Peter Brodnicki

    10 Sep 2010

    The chief executive of the Mortgage Advice Bureau says the firm has completed the client servicing chain with its wealth management division and is prepared for the rigours of the MMR Interview by Paul Thomas

  • Plan that lost an election

    9 September 2010

    Gordon Brown’s decision to fight this year’s general election as a battle between cuts and investment has been blasted by Tony Blair.

  • Plus ca change...again

    13 Sep 2010

    Back from my enforced summer holidays - did you miss me? I missed you - and we begin the new term pretty much as we finished the last one. Investors are still excited about risk assets one week, then scampering back to the so-called safe havens the next, Peter Hargreaves is still not terrifically keen on RDR and England have still not won a football World Cup since 1966.

  • Pre-Budget report is slimmed down

    9 September 2010

    The Government is to replace the pre-Budget report with a slimmed-down autumn statement in late November or early December

  • Protection at standstill but CI cover is resilient

    9 September 2010

    Le Beau: ’Mood of the moment’

  • Providers and advisers have cover cost duty

    10 Sep 2010

    FSA says advisers and providers responsible for complying with rules that require clients to be told the full cost of cover over the term of the policy.

  • Pru pledges to stick by IFAs

    9 Sep 2010

    Deal with Santander will not affect IFA distribution

  • Rate gap grows as just 10 lenders take 85% share

    9 September 2010

    The gap between average mortgage rates and the Bank of England base bank widened from 2.2 per cent in 2008/09 to 3.7 per cent in 2009/10, according to FSA figures.

  • Rathbone takes its highest weightings in alternatives

    9 September 2010

    Rathbone Unit Trust Management’s multi-asset portfolios have their highest weightings in alternative investment strategies since launch in 2007.

  • RBS axe falling on 3,500 more jobs despite £1.5bn profit

    9 September 2010

    Royal Bank of Scotland is set to cut 3,500 jobs, bringing the total number of roles slashed by the bank since 2009 up to 21,500.

  • RDR is top of Hargreaves' risk register

    9 September 2010

    Hargreaves Lansdown co-founder Peter Hargreaves has labelled the RDR as the biggest risk facing retail investors.

  • Regulator aiming to block misselling

    9 September 2010

    Aifa director general Chris Cummings (right) makes a point to the FSA’s Rory Percival as Standard Life’s Mark Polson looks on

  • Royal London 360 increases age limit for LifePlan benefits to 80

    9 September 2010

    Royal London 360º has increa-ed the maximum age limit for the term benefits on its LifePlan product from 65 to 80.

  • Santander and Barclays get most customer complaints

    9 September 2010

    Santander has emerged as the lender with the highest number of customer complaints relative to the number of customers after the FSA ordered banks to publish complaints data.

  • Seasonal complaint

    9 Sep 2010

    Nic Cicutti says that some people who have bemoaned the FOS for promoting National Complaints Day should get a life.

  • Set up audit trail to check for conflicts

    9 September 2010

    Companies using platforms should look at introducing a conflicts of interest policy to provide an audit trail for the FSA, according to Aifa.

  • Sipp business soaring by 44%

    9 September 2010

    Sipp sales were up by 44 per cent over the past year from 95,791 in 2008/09 to 138,151 in 2009/10.

  • 'Six-week PMI options need health warning'

    10 Sep 2010

    Association of Medical Insurance Intermediaries expresses concerns about the plans.

  • Slattery sets up new group for women IFAs

    9 September 2010

    Monetary Solutions Limited director Vivian Slattery has set up a new group of female financial advisers which aims to promote the standing ofwomen in the industry.

  • Smaller firms fund manager Williams leaves Gartmore role

    9 September 2010

    Ex-Axa Framlington boss Robert Kyprianou has joined Gartmore as a non-executive director while head of UK smaller companies Gervais Williams has left the firm.

  • Some tips on transparency

    9 September 2010

    Fund firms need to aim for uniformity in their cost menus

  • Something worth barking about

    13 Sep 2010

  • Standard Life slashing 500 jobs in shake-up

    9 September 2010

    Nish: ‘Necessary change’

  • Stop believing that Omo is good enough

    9 September 2010

    THE EDITOR’S COMMENT OF THE WEEK

  • Supermarket sweep

    10 Sep 2010

    William Watling says advisers need to ensure continuing due diligence when using fund supermarkets and platforms

  • Swing out sectors

    13 Sep 2010

    With one quarter left to go, 2010 has proved a tricky year for fund managers of all asset classes. Gary Potter, co-head of multi-manager at Thames River Capital, says he has never known such a time of uncertainty among fund managers. “Stockpickers have never found it so tough,” he says, adding that in such an environment it is important they remain true to their beliefs. The same could be said of investors.

  • The road to unintended consequences

    9 Sep 2010

    David Trenner hopes the Government reconsiders its proposed ban on transfers from DB to DC schemes.

  • UK equities can still deliver

    9 September 2010

    Doubts remain about future prospects for the British economy but there are companies that can pay off for investors

  • We must have credit control

    9 September 2010

    I am sorry, Ray Boulger, but I have to disagree with you regarding your column in last week’s Money Marketing. Not only is the FSA right, in my opinion, but our coalition Government has even said that it proposes some form of credit control on mortgages.

  • What's what with VAT

    9 September 2010

    The first in a short series covering VAT and financial services

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