Money Marketing
Online - February 2010
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Glendevon King Asset Management - MFM Glendevon King Global Bond Fund
1 Feb 2010
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Merchant Capital - Growth Plan: Twin Win
16 Feb 2010
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Moody’s allays euro sovereign debt fears
10 Feb 2010
Ratings agency says fears of a eurozone meltdown are over-stated.
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Pru to offer free investment seminars for IFAs
22 Feb 2010
Pru teams up with OBSR and O&M Solutions to offer free IFA seminars in March.
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Ucits III absolute return funds could double in a year says Blacksquare
4 Feb 2010
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£8m misappropriated in Guernsey property fund
26 Feb 2010
£8m due to a Guernsey property fund has not been paid due to a misappropriation of monies.
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2plan launches company share scheme for advisers
5 Feb 2010
The scheme is open to all existing 2plan members and any new joiners appointed prior to May 31 this year.
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84% of advisers to remain independent post-RDR, says JP Morgan
3 Feb 2010
Research by JP Morgan Asset Management found one in seven IFAs will leave as a result of RDR, but 84 per cent will remain independent.
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A first from Citi
18 Feb 2010
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A&L to launch £5.5bn RMBS
24 Feb 2010
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A2O sale fails over liability concerns
17 Feb 2010
The administrator for Alpha 2 Omega says it has failed in its bid to secure the sale of the adviser network due to liability concerns.
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Abbey For Intermediaries – Two-Year Tracker
3 Feb 2010
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Abbey for Intermediaries launches new broker division
22 Feb 2010
Associate Accounts offers commercial arrangement to select brokers.
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Aberdeen to merge away UK and European opps funds
1 Feb 2010
Aberdeen is merging away its UK and European opportunities fund in a bid to improve the efficiency of its range.
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Absolute return funds top December sales, IMA stats
2 Feb 2010
Absolute return was the best selling Investment Management Association sector in December, and the second best seller for the whole of 2009.
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Aegon appoints COO and reports 23% drop in life/pensions new business
25 Feb 2010
Aegon has appointed Adrian Grace as chief operating officer for life and pensions as it reports a 23 per cent drop in new business for that sector.
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Aegon brings global opportunities fund to market
4 Feb 2010
Aegon Asset Management has launched a global opportunities fund which invests in derivative and non-derivative assets.
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Aegon increases discounts for multiple-benefits
17 Feb 2010
Aegon has increased the multi-benefit discounts for policyholders who take out two or more benefits on the same plan.
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Aegon to host protection seminars for IFAs
16 Feb 2010
Aegon is hosting a series of protection workshops for advisers.
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Aifa calls on FSCS to publish legal opinion on Keydata levy
23 Feb 2010
Aifa urges FSCS to publish legal opinion which led to £43m Keydata bill falling on investment advisers.
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Aifa chairman and MP John Gummer told to pay back £29,398
5 Feb 2010
Gummer made the claim for gardening expenses and lawnmower repairs.
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Aifa warns of increased fees for firms with seven or more advisers
12 Feb 2010
The Association of Independent Financial Advisers says any directly authorised firm with seven or more advisers will see their FSA fees increase in 2010/11.
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Albion Ventures - Albion Development VCT D Shares
4 Feb 2010
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Amati Global Partners acquires Noble Fund Managers
1 Feb 2010
Amati Global Partners acquire VCT manager.
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AMG buys private equity FoF firm Pantheon
10 Feb 2010
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AMI hits out at FSA's fee hike
12 Feb 2010
Director Robert Sinclair says some mortgage firms will see an 82 per cent increase in fees.
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Another stockbroker fined by FSA
18 Feb 2010
Glasgow-based firm Direct Sharedeal ordered to pay £101,500 for allowing appointed representative to mislead customers.
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Artemis set for buyout
1 Feb 2010
Artemis Investment Management is set to be bought by its senior management and US fund house Affiliated Managers Group.
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Audit Commission warns elderly care costs could double by 2026
18 Feb 2010
New report issues a wake-up call to councils about how to fund an ageing population.
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Aviva enhances PMI cover
12 Feb 2010
Enhancements include the addition of two new reduced out-patient benefit options and a choice of higher excess options.
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Aviva pulls out of offshore bonds
8 Feb 2010
Aviva Life International closes offshore bonds to new business following fall in demand from the UK market.
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Aviva removes initial charge on platform
10 Feb 2010
The move comes two weeks after Aviva reopened its wrap for new business seven months later than expected.
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Aviva UK group pension sales plunge 55%
4 Feb 2010
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Aviva UK Health appoints international BDM
18 Feb 2010
Teresa Rogers joins Aviva UK Health from Pru Health.
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AWD appoints head of development and training
1 Feb 2010
AWD Chase de Vere has appointed Carl Pimlott as head of professional development and training.
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Axa UK life and savings sales fall 20 per cent
18 Feb 2010
In line with other insurers, the firm saw group pension sales fall 15 per cent to £287m over 2009.
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Baillie Gifford turns to global income
1 Feb 2010
Baillie Gifford is to launch a global equity income fund for Dominic Neary, Money Marketing understands.
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Bank halts QE and holds at 0.5%
4 Feb 2010
Bank of England to wait and see the effects of £200bn easing programme.
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Bank predicts inflation spike
10 Feb 2010
Inflation spike of more than 3% likely in short-term according to the Bank of England.
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Barclays chief warns against excessive capital requirements
9 Feb 2010
John Varley warns MPs against overly onerous capital requirements and regulation.
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Barclays increased risk rating of funds without telling investors
3 Feb 2010
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Barclays looking at platform launch
24 Feb 2010
Bank understood to be planning a direct-to-consumer platform proposition.
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Barclays provides kick-out choice
25 Feb 2010
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Barclays records £11.6bn pre-tax profit
16 Feb 2010
Bank posts 92 per cent pre-tax profit increase due to the sale of its investment arm.
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Barclays Wealth - Defined Returns Plan Annual Kick-Out February 2010
24 Feb 2010
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Barclays Wealth - Growthbuilder
11 Feb 2010
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Blue Sky Asset Management - Capital Accumulator Auto-Call - Dual Index Series V
2 Feb 2010
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Blue Sky's income plan waits in the corridor
1 Feb 2010
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Bluefin triumphs as newcomer Lift-Financial scoops two gongs at Corporate Adviser Awards - Full list of winners
11 Feb 2010
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Bolton China fund set to raise £630m
9 Feb 2010
Fidelity plans an initial capital raising of £630m for Anthony Bolton’s China special situations investment trust.
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Bonuses hurting pension funds, says Myners
9 Feb 2010
City minister will tell the NAPF to do more to crack down on bonus culture.
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Borrowers rushed to catch stamp duty deadline
1 Feb 2010
CML says Bank stats show a “bunching” of approvals at the end of 2009.
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Bravura CEO resigns
23 Feb 2010
Bravura group chief executive and managing director Iain Dunstan has resigned.
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Bright Grey pays 93% of CI claims
24 Feb 2010
Bright Grey paid out 93 per cent of all critical illness claims in 2009, latest figures show.
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Brooks Macdonald appoints two investment managers
24 Feb 2010
The double appointment brings the number of investment managers to 33.
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Brown says global bank tax is close
11 Feb 2010
PM says international powers will draw up a bank levy by June.
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Building blocks from Russell
24 Feb 2010
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Building societies to agree capital deal with regulators
15 Feb 2010
Creation of mutual ordinary deferred shares would help building societies meet capital requirements.
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Bupa enhances online IP trading system
23 Feb 2010
The system now allows IFAs to upload multiple product applications in one action.
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Business of advice - Complacency is an enemy: Regularly fine tuning your business
19 Feb 2010
In this final extract from the Taxbriefs book Business of Advice, author David Shelton explains the need for updating your business from time to time.
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Business of Advice - Service design without process design will fail
9 Feb 2010
In this extract from the Taxbriefs book Business of Advice, author David Shelton explains the need for a strong business process.
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Business of advice - You can grow with or without capital
2 Feb 2010
In this extract from the Taxbriefs book Business of Advice, author David Shelton looks at the ways advisers can grow their respective businesses.
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Cable slams practices of bailed out banks
23 Feb 2010
Lib Dem Shadow Chancellor says banks should be prevented from aiding international takeovers.
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Calls for specific RDR exam for corporates
23 Feb 2010
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Campbell Dallas joins Succession
1 Feb 2010
The IFA firm has £200m in funds under management and will become Succession’s Scotland-based hub.
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Capita launches all-encompassing website
15 Feb 2010
The new website combines Capita Financial Software’s Quay, Synaptic and Webline propositions.
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Capita launches split protection service
23 Feb 2010
The new service allows advisers to quote on different life and CI cover levels on the same illustration.
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Capita underwriting services transfer to Scottish Provident
19 Feb 2010
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Charles Stanley eyes up Chartwell Direct
24 Feb 2010
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Chatfeild-Roberts takes over as Jupiter CIO
2 Feb 2010
Jupiter director of independent funds John Chatfeild-Roberts is to take over as the group’s chief investment officer from Edward Bonham Carter.
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Citizens Advice warns tenants of fraudulent money transfers
15 Feb 2010
The Citizens Advice Bureau is reporting cases of people falling victim to a money transfer scam.
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Cleri Med managing director John Van Der Wielen to leave
8 Feb 2010
Van Der Wielen to return to Australia following Lloyds restructure.
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CML predicts a "bulge" in repossessions
16 Feb 2010
The CML predicts a slow increase in repossessions over the coming years
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CML warns against buy-to-let regulation
15 Feb 2010
The CML warns the Treasury against extending the scope of FSA regulation to cover buy-to-let.
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Committee of Public Accounts calls for tax clarity for elderly
25 Feb 2010
Chairman Edward Leigh MP says more work needs to be done to make tax reporting for older people clearer and more efficient.
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Coronation Street star records death tax warning video
19 Feb 2010
William Roache, who plays Ken Barlow, raises concerns about any potential death tax.
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Could the Tories scrap the DWP?
19 Feb 2010
Iain Anderson suggests the Tories could move pension and welfare responsibility to the Treasury.
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Councils warn of costs of free care pledge
10 Feb 2010
Government plans to provide free home care under the Personal Care At Home Bill could cost local authorities more than £20m.
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Couple jailed and fined £4m for offshore tax dodge
26 Feb 2010
Husband and wife jailed for six years – couple laundered money through property and hid it in offshore accounts.
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Coventry sits pretty
8 Feb 2010
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Creating the Way for specialist funds
17 Feb 2010
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Dalton Strategic Partnership - Melchior Selected Trust: European Fund
18 Feb 2010
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Darling, Osborne and Cable to face off in TV debate
1 Feb 2010
Chancellor Alistair Darling, Conservative Shadow Chancellor George Osborne and Liberal Democrats Shadow Chancellor Vince Cable to battle it out on live TV.
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Deutsche Bank sets aside £196m for UK bankers’ supertax
5 Feb 2010
Deutsche Bank has revealed that it has set aside £196m towards the payment of a UK “supertax” on bankers bonuses.
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Dow drops as eurozone crisis continues
9 Feb 2010
Dow, Nikkei down as speculators turn against Euro.
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DSP creates Ucits III mirror of European hedge fund
19 Feb 2010
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DWP personal accounts head 'unable to explain position on RDR' : Altmann joins criticism of consultancy charging
23 Feb 2010
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Economists rain on positive OECD UK results
8 Feb 2010
Former IMF director says the UK is next European country in line for sovereign debt crisis.
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Economists urge delay on spending cuts
19 Feb 2010
Sixty economists have written to the Financial Times warning that further spending cuts could be dangerous if they come too soon.
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Economists warn Govt must speed up deficit cuts
15 Feb 2010
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Emerging markets gain ground on Vantage platform
16 Feb 2010
Several emerging market funds appeared in the bestseller list on Hargreaves Lansdown’s Vantage platform in January
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Entrepreneur Tony Banks calls for 1% tax increase to fund elderly care
23 Feb 2010
Banks says Government should introduce a 1 per cent tax increase that is ring fenced for elderly care.
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Equities will outstrip gilts over decade
12 Feb 2010
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EquityCare merges with Better Retirement
4 Feb 2010
Brands combine to offer combined domiciliary care proposition.
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EU pledge fails to appease markets
15 Feb 2010
Global developed stockmarkets gave last week’s accord between the European Union and Greece a muted reaction, while bonds rallied and the euro fell.
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EU to dictate Greece’s austerity measures
17 Feb 2010
Eurozone members to decide the fate of the indebted nation.
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Euro directive could cause “systemic failure”, says BoE committee
8 Feb 2010
Committee warns Alternative Investment Fund Management directive is unworkable in its present form.
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Eurozone debates Greece debt crisis
10 Feb 2010
Experts argue over solutions for Greek debt crisis.
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Ex-Burns Anderson IFA remanded in custody
12 Feb 2010
Ex-Burns Anderson IFA remanded in custody in suspected £8m fraud trial.
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Ex-Cazenove partner took cash for share tips
18 Feb 2010
The Times reports of alleged insider deal profit of ex-Cazenove partner delivered in envelopes of cash.
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Ex-FSA director and Stroud & Swindon chief join as Checkmate rebrands
22 Feb 2010
Firm also signals intention to collect retail deposits by the appointment of a savings director.
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ex-HSBC employee reveals high pressure sales culture
26 Feb 2010
Which? Commission witness reveals sales culture in her fomer role at bank branch.
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Experts call on HMRC to redraft tax advice rules
18 Feb 2010
Calls come after fears legislation could catch advice on reducing tax liabilities.
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Experts paint bleak picture of UK debt crisis
1 Feb 2010
Talking point of Davos illustrates UK’s “acute” debt problems.
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Ex-Thinc advisers launch IFA network
9 Feb 2010
Former Thinc advisers launch IFA network with a flat fee and no contractual ties.
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Fidelity bullish on gilts
4 Feb 2010
Fidelity Bond manager says there are still gilt-hungry investors regardless of instability fears following the QE halt.
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Fidelity offers re-reg and Isa cash payment
16 Feb 2010
Fidelity is offering advisers a payment for each re-registered case and £5 per online Isa application.
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Fidelity to host IFA workshops
4 Feb 2010
Fidelity Fundsnetwork is hosting 27 workshops across the UK this month, focusing on regulation and the economic environment.
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Final Solvency II rules to be "far less onerous", says analyst
18 Feb 2010
But KBW still expects the proposals will cause “inertia” in the market for bulk annuity deals in 2010.
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Financial Services Bill gives FSA too much power, warns Ignacity
2 Feb 2010
Regulatory consultancy Ignacity has urged the House of Lords to carefully scrutinise the Financial Services Bill at the second reading.
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Financial stability committee warns of £1trn refinancing conundrum
12 Feb 2010
FSA chairman Lord Turner also warns committee of danger of UK getting too far ahead of other countries in regulatory reforms.
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Former IMF chief says sovereign defaults will happen
23 Feb 2010
Man who predicted 2008’s bank crash says national debts are unsustainable.
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FOS figures reveal increase in complaints against big banks
25 Feb 2010
Barclays Bank leads the way with investment complaints.
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FOS hits out at lenders using debt-advice firms
19 Feb 2010
FOS says insisting on using debt-advice firms may delay resolution.
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Friends Provident joins group pensions dive in sales
11 Feb 2010
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Friends slams "buy now while stocks last" commission tactics
11 Feb 2010
Shareholders are not getting good value for this business, Friends warns.
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FSA and SEC to expand supervisory cooperation
1 Feb 2010
The FSA and the US Securities and Exchange Commission agree enhanced supervisory cooperation is “critical to market integrity”.
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FSA attacks private equity “arrogance”
12 Feb 2010
Dan Waters criticises fund manager for questioning regulation.
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FSA bans and fines hedge fund manager for ‘mis-marking’
3 Feb 2010
The Financial Services Authority bans BlueBay Asset Management’s Simon Treacher for ’mis-marking’.
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FSA bans firm director after failings cost clients £85,000
5 Feb 2010
Bridgewater House UK director Matthew Sixsmith’s failure to protect client money cost his clients £85,000.
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FSA bans West London mortgage broker
4 Feb 2010
Broker submitted application for himself where income was 1,200% higher than the £15,000 he declared to HMRC.
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FSA censures Park Row - Peter Sprung fined
24 Feb 2010
Regulator hits out at IFA for sales failings and orders up to £7.8m in client redress.
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FSA censures stockbroker Falcon Securities
1 Feb 2010
Regulator censures London-based stockbroking firm for TCF failures by its appointed representative.
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FSA fines IFA £700,000 for Lehman failings
25 Feb 2010
FSA finds failings in RSM Tenon Financial Services’ advice on Lehman-backed products and pension switching.
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FSA funding requirement for IFAs to fall 8%
12 Feb 2010
The FSA’s fees and levies for IFAs will fall £3.6m in 2010/11.
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FSA issues share fraudster warning
1 Feb 2010
The FSA and City of London Police have written to 10,000 people whose details appear on a list being circulated by fraudsters.
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FSA issues share scam warning
24 Feb 2010
The Financial Services Authority has issued a warning over an increase in overseas fraudsters selling shares by imitating FSA authorised firms and individuals.
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FSA launches three separate investigations into RBS
26 Feb 2010
The City regulator will look into the ABN AMRO takeover, compliance with money laundering regulations and complaints handling.
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FSA raises concerns over traded life settlements
24 Feb 2010
Regulator says it has uncovered “major flaws” in the marketing of products.
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FSA raps stockbroker Wills & Co
17 Feb 2010
The firm would have faced a £1.5m fine had it not been winding down its business.
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FSA returns £270,000 to share fraud victims
23 Feb 2010
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FSA slaps Turkish oil execs with £1.16m fine
16 Feb 2010
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FSA still concerned on European fund directive
26 Feb 2010
Despite progress, the FSA says it is still concerned about several aspects of the European alternative investment fund managers’ directive.
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FSA takes property company to court on rule breaches
15 Feb 2010
The Financial Services Authority is taking a billion-pound company to court over charges that they breached rules on corporate takeovers to the regulator.
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FSA warns on risks of increasing retail bond market access
24 Feb 2010
Regulator warns of risks of increasing retail access to bond markets.
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Fund of fund sales highest on record, says IMA
11 Feb 2010
Funds under management for fund of funds for 2009 had highest year end on record.
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Gartmore - Japan Absolute Return Fund
3 Feb 2010
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Gartmore expands absolute return range wth Japan fund
11 Feb 2010
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Gartmore newcomer takes active approach to portfolio revamp
8 Feb 2010
Gartmore’s head of Asian equities Jan de Bruijn has revamped two funds he took over since joining the firm from Threadneedle in January.
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German house poised for UK launches
22 Feb 2010
DWS set for absolute return and global equity fund launches
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Glendevon King enters retail market with bond fund
4 Feb 2010
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GLG rolls out hedged version of Japan fund
8 Feb 2010
GLG Partners has launched the GLG Japan CoreAlpha Equity fund, a currency-hedged replica of its £698m Japan CoreAlpha fund.
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Global bank levy gains support
1 Feb 2010
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Goldman Sachs admits currency swaps role in Greek crisis
23 Feb 2010
Chairman Gerald Corrigan says it is possible the UK was involved in similar deals.
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Government reveals “worrying” debt figures
18 Feb 2010
ONS reveals worse than expected public borrowing figures for January.
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Govt ends 100% guarantee for Northern Rock savers
24 Feb 2010
Savers will now be protected by the Financial Services Compensation Scheme.
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Govt proposals could hit tax advice
17 Feb 2010
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Govt removes pensions transfer trap
26 Feb 2010
Pension savers can now keep their contribution history to avoid tax charges, if they switch provider.
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Govt revises GDP to 0.3%
26 Feb 2010
ONS says a strong December meant Q4 2009 GDP was better than initially thought.
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Greece may rebuff fiscal tightening plans
15 Feb 2010
European Central Bank and Germany want Greece to increase tax and cut public sector pay.
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Greece to answer questions on derivatives trading
16 Feb 2010
Reports say complex derivative trades hid Greek debt from EU.
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Greek debt fears hit global markets
8 Feb 2010
Mounting fears over Greece’s debt position spilled into global equity markets last week, as share prices in America, Asia and several European countries all fell.
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Half of advisers think wraps will fall under RDR whole of market test
11 Feb 2010
Scottish Widows research shows advisers think wraps will be subject to the same test as investment products.
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Halifax scraps guarantor mortgages
24 Feb 2010
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Hank Paulson blames FSA for Lehman collapse
1 Feb 2010
Former US Treasury Secretary holds UK regulator responsible in new book.
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Hargreaves Lansdown drops Skandia UK best ideas from Wealth 150
16 Feb 2010
Hargreaves Lansdown has dropped Skandia’s UK best ideas fund from its Wealth 150 range.
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Hargreaves Lansdown pre-tax profits up 9%
10 Feb 2010
Net business flows and assets under administration jump more than 50 per cent.
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Hargreaves team with IG to offer spreads and CFDs
24 Feb 2010
Hargreaves to offer spread betting and CFDs through joint venture with IG Group.
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Heartwood to use passive funds in three ways
18 Feb 2010
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Hector Sants to step down from FSA
9 Feb 2010
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Henderson looks to barbell
25 Feb 2010
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Henderson moves back into profit
24 Feb 2010
Henderson Group has unveiled a £15.5m pre-tax profit in 2009 despite an 8 per cent fall in its recurring profit before tax.
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HMRC extends consultation following tax advice outcry
18 Feb 2010
Experts warn legislation as currently drafted would penalise any advice that leads to a tax loss to the Treasury.
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Honor Blackman takes up Equitable cause
19 Feb 2010
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House prices dip 1%, says Nationwide
26 Feb 2010
The average house price fell by a seasonally adjusted 1 per cent in February to £161,320.
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House prices rose by 2.1 per cent in January, says Land Registry
26 Feb 2010
Second month in a row the figure has been positive means average house price now £165,008
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Housing minister slated for "insensitive" repossession comments
11 Feb 2010
John Healey has been lambasted by his Tory and Lib Dem counterparts over “insensitive comments”.
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Howard Flight, Ben Gunn and Keith Carby to join Metro Bank
22 Feb 2010
New hires lined up ahead of launch of new bank.
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HSBC abandons salary increase for CEO
24 Feb 2010
HSBC has abandoned its plans to increase the salary of chief executive Michael Geoghegan following shareholder protests.
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Iceland to resume Icesave talks
15 Feb 2010
Iceland expected to reopen talks with Britain and Netherlands to deal with £3.5bn Icesave bill.
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IFA authorisations fall 35 per cent
2 Feb 2010
IFA authorisations fell 35 per cent and mortgage broker authorisations plummeted 61 per cent from Q1 to Q4 in 2009, according to IMAS Corporate Advisors.
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IFA helps workers hit by steel plant closure
12 Feb 2010
IFA firm Carterbar has been asked by the FSA to help workers at Corus steel plant manage their finances.
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IFAs hit by £70m FSCS interim costs
12 Feb 2010
IFA firms will be forced to pay the Financial Services Compensation Scheme an interim levy of £70m by March 31, 2010.
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IFAs want a new regulator in 2010
10 Feb 2010
A change of regulator tops IFAs’ wish lists for 2010, according to the Marketing Innovation Forum.
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IFAs will only get 30 days to pay £70m FSCS bill
12 Feb 2010
Firms will be notified of their levy by March 31, 2010 and payment will be due within 30 days.
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Ignis enters into partnership with Castle Hill
4 Feb 2010
Ignis takes 49 per cent stake in credit investment manager Castle Hill.
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Inflation up to 3.5%
16 Feb 2010
Inflation up again in line with the Bank of England’s recent predictions.
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Ingenious dual VCT dishes up D shares
5 Feb 2010
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Ingenious Investments - Entertainment VCTs 1 and 2
1 Feb 2010
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Insynergy and Gam to launch China fund
19 Feb 2010
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Insynergy Investment Management - Absolute China Fund
24 Feb 2010
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Insynergy teams up with Reliance to launch absolute India fund
25 Feb 2010
Insynergy teams up with Reliance Capital Asset Management for new fund launch.
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Invesco Perpetual's two Pauls talk tactics
11 Feb 2010
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Invesco reshuffles fixed income team
25 Feb 2010
Michael Matthews and Stuart Edwards replace Paul Read and Paul Causer on five fixed income funds.
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Investec Structured Products - FTSE 100 Income Deposit Plan 8
9 Feb 2010
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Investment firm fined £1,000 for acquiring firm without FSA approval
17 Feb 2010
Semperian PPP Investment Partners has been fined £1,000 for acquiring a firm before it had received approval from the FSA
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IOD says raise retirement age to 68
1 Feb 2010
The Institute of Directors says the Government should increase the default retirement age, initially to 68.
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It’s a WAG’s life
9 Feb 2010
Bright Grey’s Roger Edwards says protection advisers should spend more time with existing clients.
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January lending falls to 10-year low
18 Feb 2010
Gross lending falls 32 per cent from December when borrowers had looked to beat stamp duty holiday
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Jupiter unveils fund for all seasons
17 Feb 2010
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Just Retirement founder Mike Fuller to retire
17 Feb 2010
LV= managing director Rodney Cook will take over at the Just Retirement helm when founder Fuller steps down in July.
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Just Retirement sales up 26 per cent
3 Feb 2010
The provider recorded increases in both annuity and equity release business in the six months to December 2009.
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Ken Davy to chair alternative assessment RDR support group
16 Feb 2010
Alternative Assessment Project Group set up to examine practical issues of the FSA’s proposed alternative assessment RDR route.
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Kent Reliance appoints new chairman
1 Feb 2010
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Keydata missing assets trail could lead to rainforest
16 Feb 2010
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King Sturge Financial Services/Yorvale Capital - Northern UK Properties
26 Feb 2010
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King to take "whatever actions are necessary" to keep to inflation target
16 Feb 2010
Bank governor King tells Chancellor that he is ready to increase fiscal stimulus to control inflation.
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L&G annuity sales jump 13 per cent
17 Feb 2010
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L&G enhances corporate platform
3 Feb 2010
L&G is adding an employer-financed retirement benefit scheme and a cash Isa on its corporate platform.
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L&G enhances IP plan
3 Feb 2010
Enhancements include an increase in the maximum benefit and an increase in expiry age.
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L&G offers split sums assured
1 Feb 2010
Different sums assured are available on critical illness cover and term assurance.
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L&G records 34% increase in life business
16 Feb 2010
Legal & General has reported a 34 per cent increase in the number of whole of life policies sold for inheritance tax planning.
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L&G's rating lowered due to UK focus
9 Feb 2010
Standard & Poor’s says L&G’s concentration on the UK makes it more vulnerable to industry and economic risks.
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Law firm probes Skipton SVR hike
18 Feb 2010
Solicitors investigate legal implications of Skipton scrapping its SVR ceiling.
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Lawyer claims A2O is being packaged to sell with reps
3 Feb 2010
A law firm representing members of Alpha 2 Omega has raised concerns that administrators are trying to “pre-pack” the business and sell it on.
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Leeds Building Society records 56% profit increase
23 Feb 2010
The society recorded a pre-tax profit of £31.7m for 2009, up 56 per cent on the previous year’s £20.3m.
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Legal & General - European Absolute Return Fund
23 Feb 2010
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Legal & General - UK Absolute Return Fund
23 Feb 2010
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LGT favours discretionary macro over computer based trading
25 Feb 2010
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Life Settlement industry draws up code as FSA interest grows
24 Feb 2010
European Life Settlement Association draws up practice code as FSA prepares to outline its concerns.
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Lifemark looks to stop income on Keydata plans
1 Feb 2010
Lifemark securities suspended on Luxembourg Stock Exchange as firm seeks to restructure its debt.
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Liontrust hires John Ions as head of retail
8 Feb 2010
Former Tactica chief joins to rebuild the business.
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Liontrust sees further outflows and reveals cost-cutting measures
4 Feb 2010
Liontrust Asset Management is to embark on a cost-cutting exercise in view of its current funds under management.
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Liontrust unveils European fund details
15 Feb 2010
Liontrust has revealed details of the upcoming European value fund it is launching for Ross Hollyman and Rob Cornish.
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Lloyds chief Eric Daniels may get £6m in salary and bonuses
15 Feb 2010
Daniels could take home £1m basic salary plus 225 per cent in bonuses.
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Lloyds' Daniels under pressure as RBS' Hester waives bonus
22 Feb 2010
Stephen Hester waives £1.6m bonus, putting pressure on Eric Daniels to follow suit.
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Lloyds' Daniels waives £2.3m bonus
23 Feb 2010
Eric Daniels’ decision comes after Stephen Hester waived his £1.6m bonus yesterday.
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Lloyds mortgage and wealth heads to step down
5 Feb 2010
MD of mortgages Dan Watkins leaves as GI MD takes helm of streamlined life and pensions business.
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Lloyds reports £6.3bn loss
26 Feb 2010
Group reports £3.3bn loss in new wealth and international division which includes SWIP.
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Lord Myners calls on fund groups to get tough on bank bonuses
3 Feb 2010
Fund managers are urged to scrutinise bank bonus arrangements.
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LV= launches fixed-term annuity
8 Feb 2010
The firm joins Living Time in the temporary annuity market with the launch of its hotly anticipated fixed-term product.
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Markets recover as Europe plans Greek rescue
11 Feb 2010
European leaders hammer out plans to guarantee indebted nation.
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Marlborough rebrands Quantock UK growth fund
15 Feb 2010
Marlborough Quantock UK growth fund to rebrand as UK primary opportunities fund.
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Martin Werth: How to close the gap
16 Feb 2010
Martin Werth says breaking things down is the key to growing the protection market.
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Matrix Group - Matrix Income & Growth VCT 4 Top-Up
2 Feb 2010
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Maven Capital Partners - Maven income & Growth VCT, VCT 2, 3 & 4 Joint Offer
12 Feb 2010
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Members look for last minute A2O buyout
10 Feb 2010
Appointed representatives from Alpha to Omega are planning a late bid to snare the network from Moneygate.
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Merchant provides hard act to follow
24 Feb 2010
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Meteor Asset Management - Prima Platinum Plan 4
8 Feb 2010
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Meteor confirms acquisition of NDF/DRL books
8 Feb 2010
Meteor deal to acquire structured product providers NDF/DRL confirmed.
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MGM launches delayed asset-backed annuity
15 Feb 2010
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Midas looks to private equity
4 Feb 2010
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Misbehavioural finance
1 Feb 2010
“Should you tell your clients they’re being irrational? Ouch. But what if you don’t?”
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Moneygate frontrunner to acquire A20
10 Feb 2010
North East IFA network Moneygate has emerged as frontrunner to acquire Alpha to Omega, this week’s Money Marketing reveals.
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Moneygate: A20 deal “unlikely”
12 Feb 2010
Moneygate chief executive Lee Hartley says a deal for network Alpha to Omega is now unlikely despite a third offer for the business remaining on the table.
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Montello bridges finance gap
26 Feb 2010
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Montello Private Finance - Income Fund
22 Feb 2010
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Moody's warns more lenders will be forced to merge
15 Feb 2010
Many building societies will find it “increasingly difficult to survive”, warns ratings agency.
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Morgan Stanley opts for deceleration
5 Feb 2010
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Mortgage firm exposes 15,000 customers' account details
24 Feb 2010
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MPs launch follow-up mortgage inquiry
11 Feb 2010
The Treasury select committee has launched a follow-up inquiry into households struggling with mortgage arrears.
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MPs slam Treasury secrecy over £18bn to cover BofE loans
9 Feb 2010
Public accounts committee says Chancellor’s failure to notify Parliament was of “significant constitutional importance”.
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NatWest Intermediary Solutions - Two Year Fixed
25 Feb 2010
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NatWest Intermediary Solutions - Two Year Fixed-Rate Shared Equity
22 Feb 2010
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NatWest Intermediary Solutions - Two Year Tracker
25 Feb 2010
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NatWest Intermediary Solutions - Two-Year Tracker
5 Feb 2010
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NatWest Intermediary Solutions - Two-Year Tracker
8 Feb 2010
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NeedAnAdviser.com directors launch referral service
8 Feb 2010
Ashley Clark and Joanne Roberts have launched referrals and compliance portal Advisers United.
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Network members likely to face fee hikes
12 Feb 2010
Members of the largest IFA networks are likely to be hit with the biggest increase in FSA fees and levies.
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New Tory regulator could up industry fees
12 Feb 2010
Hoban admits industry may have to pay more for a regulator “who understands” financial services.
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New wealth manager launches
4 Feb 2010
Wealth manager revives historic name of Albert E Sharp.
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Newcastle launches 90% LTV range
22 Feb 2010
New mortgage range targets first-time buyers.
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Nine in 10 firms want advice on pension reforms
22 Feb 2010
Pada says most businesses intend to seek advice on auto-enrolment.
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Northern Rock cuts mortgage rates
12 Feb 2010
Northern Rock cuts selected fixed and tracker rates.
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Northern Rock Intermediaries - 2-Year Everyday Fixed - Purchase
17 Feb 2010
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Northern Rock Intermediaries - 2-Year Everyday Fixed Fee Saver - Remortgage
19 Feb 2010
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Northern Rock Intermediaries - 2-Year Everyday Fixed - Remortgage
15 Feb 2010
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Northern Rock Intermediaries - 2-Year Everyday Fixed Fee Saver - Purchase
15 Feb 2010
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Nottingham building society reports £1.9m loss in 2009
26 Feb 2010
The lender reports loss after profit of £0.5m in 2008
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Nucleus predicts market divide in 2010
17 Feb 2010
Ferguson says “true wraps” will emerge as the winners in 2010.
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Nucleus unveils new IFA advisory board
5 Feb 2010
Reeve Sims and The Fry Group have joined the seven-strong board.
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OFT urges action on broker referral fees
18 Feb 2010
OFT says Government should consider ban on broker to estate agent referral fees.
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Online pensions referral service launched
2 Feb 2010
Founder of comparemypension.com launches thepensionspecialist.com for advisers who want to outsource pensions advice.
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Oxfam and Ivan Massow launch comparison site
17 Feb 2010
Compare for Good has been launched by Oxfam and will be managed by former IFA Ivan Massow.
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Parmenion - IFA Platform
18 Feb 2010
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Pearl Group to rebrand as Phoenix
19 Feb 2010
Group has £500m to make acquisitions immediately after stock market float.
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Pension fund assets plunge in recession
23 Feb 2010
ONS data shows value of self-administered pension fund assets dropped 15 per cent in 2008 to £928bn.
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Political clash over long-term care
15 Feb 2010
The Labour party has called for a cross-party conference on the issue of funding long-term care for the elderly.
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Political interference is the biggest risk to banks, according to industry survey
1 Feb 2010
Political interference, credit risk and increased regulation threaten banks, according to the latest Banking Banana Skins survey.
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Positive about protection
4 Feb 2010
The next Government should be focused on reform to build on the great work being carried out by advisers.
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Praemium UK doubles assets under administration
5 Feb 2010
The platform firm recorded £39m in assets under administration by December 31 last year, up from £17.5m by the end of Q3.
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Private Finance hires Mortgageforce's Katie Tucker as chief operating officer
9 Feb 2010
Private Finance hires Mortgageforce’s Katie Tucker as its new chief operating officer.
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Prudential to close corporate pensions new business team
24 Feb 2010
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Pru's with-profits fund performance outstrips rivals
26 Feb 2010
Prudential’s fund returned 18.7 per cent in 2009.
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QE to be questioned
2 Feb 2010
Economists will assess the affects of quantitative easing as the MPC is expected to call a halt to the stimulus.
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RAM Capital Partners/Climate Change Capital - Ventus VCT and Ventus VCT 2 C-Share top up
12 Feb 2010
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Rathbones opens office in Aberdeen
8 Feb 2010
Rathbones increases Scottish footprint with a new office opening.
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RBS reports £3.6bn loss
25 Feb 2010
The loss is down from £24.3bn in 2008.
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RDR could reduce Omo usage further
23 Feb 2010
Fitch Ratings says the RDR is likely to see fewer people exercise their open market option because many will not pay fees.
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Regulator extends Lifemark administration by 6 months
16 Feb 2010
KPMG given six more months to work on a restructuring plan for Lifemark which underpins Keydata life-settlement plans.
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Remortgaging cheaper than most SVRs, says Moneysupermarket.com
8 Feb 2010
Comparison website says 85 per cent of borrowers on SVR deals are better off switching.
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Repossessions much lower than predicted
11 Feb 2010
Repossessions in 2009 much lower than initially forecasted.
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Resolution and Blackstone join bidding for RBS branches
5 Feb 2010
RBS is shedding more than 300 branches as a result of European state aid rules.
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Risks remain "to the downside" says King
23 Feb 2010
The risks to the Monetary Policy Committee’s view of a gradual recovery in Britain’s output “remain to the downside” according to the BoE governor.
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RLAM converts unit trusts to Oeics
1 Feb 2010
Royal London Asset Management plans to convert four unit trusts to Oeics at the end of this month.
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RLAM unveils global index linked fund
8 Feb 2010
Royal London Asset Management has launched a global index linked fund.
-
Rock’s 100% savings guarantee to end
10 Feb 2010
Government’s gold-plated guarantees on Northern Rock savings set to end in March.
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Royal London Asset Management - Global Index Linked Fund
11 Feb 2010
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Royal London in talks to acquire Royal Liver
22 Feb 2010
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Royal London slams "unsustainable commission" on group pensions
3 Feb 2010
Criticisms come as Scottish Life new group pensions business falls 19 per cent.
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RPS appoints new managing director
22 Feb 2010
Pete Thomson promoted to MD of sale and rent back firm.
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Russell eases asset allocation confusion
25 Feb 2010
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Russell Investments - IM Russell ICVC Defensive Assets Fund
26 Feb 2010
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Russell Investments - IM Russell ICVC UK Growth Assets Fund
26 Feb 2010
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Russell unveils four funds
4 Feb 2010
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Sale of Alico to Metlife may be delayed due to tax dispute
17 Feb 2010
Dispute is over whether Alico has to deduct US taxes from overseas annuity and life insurance clients.
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Santander expands portfolio range
1 Feb 2010
Santander Asset Management has launched a sterling corporate bond fund and and an enhanced income fund to sit within its portfolio investments range.
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Santander mulls UK flotation
8 Feb 2010
Bank may be planning to float UK operations this year.
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Santander UK profits up 30%
4 Feb 2010
Santander has revealed its UK profits have risen over 30 per cent in 2009.
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Sants flees an uncertain future
9 Feb 2010
Resignation of the FSA chief executive adds to the uncertainties facing the industry in the run-up to the election.
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Sants will not be replaced before election
10 Feb 2010
Treasury orders FSA to hold fire until its fate is decided.
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Sarasin & Partners - Sarasin EquiSar UK Thematic
4 Feb 2010
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Sarasin & Partners - Sarasin Equisar UK Thematic Opportunities
4 Feb 2010
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Sarasin takes the theme tune to UK
12 Feb 2010
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Scottish Mortgage Investment Trust gets deputy manager
3 Feb 2010
Baillie Gifford has appointed Tom Slater deputy manager of its Scottish Mortgage Investment Trust.
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Senior RBS bankers resign over bonus frustrations
15 Feb 2010
Staff are reportedly angry that the taxpayer-backed bank is having to scale bank bonuses for 2009.
-
SFO drops case against UK arm of Madoff scheme
2 Feb 2010
SFO says there is “insufficient evidence” against Madoff Securities International and its directors for a conviction.
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Should the Government cut now or cut later?
22 Feb 2010
The doves and the hawks debate continues over the future of UK finances.
-
Should the inflation target be 4%?
17 Feb 2010
IMF economists pose question as they look at the fundamentals of monetary policy.
-
SIG drops trio from UK best ideas fund
2 Feb 2010
Skandia Investment Group has removed a number of managers from its UK best ideas range, including Jupiter income guru Anthony Nutt.
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Sir Malcolm Williamson appointed as Friends Provident chair
9 Feb 2010
Williamson replaces Sir Mervyn Pedelty who died at the end of last month.
-
SJP heaps pressure on Lloyds to sell stake
22 Feb 2010
Bumper results and shareholder concerns may see Lloyds sell the wealth fund manager.
-
Skandia creates two new support teams for IFAs
4 Feb 2010
Skandia has created a new technical support team and online team to help advisers.
-
Skandia launches online Isa tool
11 Feb 2010
Isa tool launched by Skandia to help advisers identify unused allowances for the tax year.
-
Skandia to cut 150 jobs to lower wrap costs
15 Feb 2010
Skandia to cut 150 jobs as part of 20 per cent cuts aimed at lowering platform charges.
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Skipton blunder reveals account details of 3,000 customers
2 Feb 2010
Building society admits data blunder which saw customer account details sent to other customers.
-
Skipton to merge with Chesham Building Society
24 Feb 2010
News comes as Skipton posts 189 per cent profit increase to £63.5m.
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So, what should TPD be renamed?
23 Feb 2010
The Association of British Insurers is inviting the IFA community to help it think up a new name for total permanent disability.
-
St James's Place reveals £363.2m profit
24 Feb 2010
Lloyds-backed distributor St James’s Place reports a pre-tax profit of £363.2m for 2009 on an EEV basis.
-
Standard Life sees Sipp inflows fall 28%
3 Feb 2010
Wrap assets more than double to £3.6bn, up from £1.7bn.
-
Stellar Asset Management - Technology EIS Fund
17 Feb 2010
-
T.Bailey reduced EM exposure
18 Feb 2010
-
TCF Fund Managers appoints ex-Cleri Med director to investment committee
26 Feb 2010
Former Clerical Medical director of pension funds David Somers joins the committee as an independent member.
-
Tenet appoints Jon Barham as head of sales
11 Feb 2010
Tenet Group has appointed Jon Barham as head of sales.
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Tenet sees profits slashed
9 Feb 2010
Tenet Group has seen its pre-tax profits slashed to £1m in the 12 months to September 30, 2009.
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That's entertainment from Ingenious
5 Feb 2010
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The Mortgage Works - 1 Year Buy-to-Let Fixed
5 Feb 2010
-
The Mortgage Works - Buy To Let Stepped Tracker
9 Feb 2010
-
The wrap/technology debate
1 Feb 2010
David Child believes wraps will not replace the need for back-office systems.
-
Think tank slams FSA's mortgage market reforms
1 Feb 2010
Think tank Long Finance says the MMR fails to offer viable reform.
-
Thorp to run new Liontrust vehicle
22 Feb 2010
Liontrust is preparing to launch an absolute return bond fund for Simon Thorp, the head of fixed income at the firm, next week.
-
Threadneedle poaches RWC’s Chris Kinder
17 Feb 2010
Threadneedle boosts UK equities team with new hire from RWC Partners.
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Threadneedle’s Harrison sends out hung Parliament warning
10 Feb 2010
Threadneedle’s head of UK equities says investors would react badly to a hung Parliament.
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Three sentenced for false accounting at Yorkshire Trading Standards
25 Feb 2010
-
Tories boycott conference to discuss care costs
19 Feb 2010
The Conservatives are refusing to take part in a conference about the funding of social care for the elderly.
-
Tories free financial advice to cost industry £50m a year
3 Feb 2010
New “social responsibility levy” on industry would pay for free advice service.
-
Tories pledge to scrap annuitisation at 75 and hike stamp duty threshold
2 Feb 2010
Shadow Chancellor George Osborne announces the Conservative Party’s economic plans.
-
Tories promise discounted bank shares for all
22 Feb 2010
Lib Dems accuse Conservatives of trying to buy votes.
-
Tories rule out switch to the Euro
10 Feb 2010
Conservative leader David Cameron has ruled out a change of currency.
-
Tory treasurer under fire for share sell-off
8 Feb 2010
The Lib Dems call for Tory party treasurer Michael Spencer to be sacked.
-
Towergate bought Charcol out of administration
23 Feb 2010
-
Towergate buys John Charcol
23 Feb 2010
-
Towergate launches corporate business and platform
15 Feb 2010
Towergate Financial has launched its new corporate solutions proposition, which includes a corporate platform.
-
Treasury slashes forecast for revenue from 50p tax rate
2 Feb 2010
City minster Lord Myners reveals Treasury has significantly reduced revenue estimates for new tax rate.
-
Triple Point Investment Management - TP70 2010 Trading Share Class
16 Feb 2010
-
TUC calls for £100bn bank tax
15 Feb 2010
Proposals echo Brown’s call for a Tobin tax.
-
Turner hints at crackdown on carry trade
1 Feb 2010
FSA chairman Adair Turner has labelled the carry trade “economically valueless”.
-
Twin chance for growth with Merchant Capital
10 Feb 2010
-
Two solicitors charged in alleged £50m mortgage fraud
18 Feb 2010
-
Two thirds of older couples fail to take out joint annuities
10 Feb 2010
Aviva’s Real Retirement Report says more than half of people over 55 do not understand what a joint annuity is.
-
UK firms cut dividends by £10bn
8 Feb 2010
-
UK needs to capitalise on ageing population
3 Feb 2010
A leading economist has warned that a financial crisis is inevitable unless we change the way we think about what older people contribute to the economy.
-
UK/Icesave talks collapse
26 Feb 2010
Iceland has rejected an offer from the British and Dutch governments yesterday to soften the repayment terms of the £3.4bn lost in the failed bank Icesave.
-
UKFI approves RBS bonus pool
25 Feb 2010
RBS bonus pool approved despite £3.6bn loss.
-
Unemployment dips
17 Feb 2010
-
Vast majority of advisers want default Omo
4 Feb 2010
More than 85 per cent of advisers are calling for the open market option to be the default to ensure retiring investors get the best deal.
-
Virgin sets sights on Lloyds and RBS branches
2 Feb 2010
-
Walker Crips Structured Investments - FTSE 100 Deposit Plan Issue 2
19 Feb 2010
-
Way Fund Managers - Way Charteris Gold Portfolio Fund
10 Feb 2010
-
Way Fund Managers - Way Green Portfolio Fund
10 Feb 2010
-
Way gets green fingers
18 Feb 2010
-
West Brom partners with Axa Bancassurance
11 Feb 2010
The agreement sees West Brom’s advisers advise exclusively on Axa’s products.
-
Which? launches money helpline
1 Feb 2010
-
Why do policymakers want to stifle the home ownership dream?
12 Feb 2010
Housing minister John Healey doesn’t want people getting a leg-up on the property ladder, and doesn’t mind if they slip off.
-
Winds of change from Ventus
18 Feb 2010
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With-profits not suitable for 9 out of 10 people, says research
12 Feb 2010
Skandia polls 600 advisers for their opinions on with-profits.
-
Yorkshire and Chelsea building societies post combined losses of £40m
25 Feb 2010
Yorkshire posted losses of £12.5m, while Chelsea posted losses of £27.1m for 2009 as their merger proceeds.
