Online - January 2012
With the RDR clock ticking, the FSA must make its intentions clear as soon as possible.
Leading Aifa should be a position people get excited about.
As the clock ticks down to RDR ‘D’ day we are now witnessing a flurry of activity within the industry.
Mark Dampier says the attractions for gold remain undiminished in 2012.
The FSA must ignore the pleading of big lenders and stick to its guns.
Richard Saunders says 2012 is seeing a renewal of the misguided campaign to include trading costs in fund charges
How ready are you for the increase in life and CI premiums?
Phil Jeynes says trusts can be used for much more than just the mitigation of inheritance tax.
Philippa Gee calls on fund houses to make the most of their existing fund range.
If most customers think they have had advice, then this is what should be provided.
As Europe still reels from the after shocks of the banking crisis, politicians of all colours are looking to redefine capitalism.
UK unemployment rose by 118,000 in the three months to November 2011 to stand at 2.68m, according to the ONS.
Nine men have been jailed for a mortgage fraud that made extensive use of fake documents.
Only 25 out of 65 funds produced a positive return in 2011.
Lender is also reducing rates on existing products by 0.2 per cent.
Aberdeen Asset Management has appointed Singapore-based strategist Peter Elston as head of Asia Pacific strategy and asset allocation.
Open letter signed by 47 bodies calls for political parties to find a consensus for funding of long term care.
PPI and critical illness rank lowest in terms of understanding.
Products start at 4.89%.
FSA is seeking to ban Pave Financial Management and fine one of its directors £90,000 over Ucis sales.
Aegon UK has appointed Axa Wealth business development director Martin Coyle as head of platform sales.
The provider is also in “detailed discussion” with Nest over how to integrate the Government-backed pension scheme into its workplace savings proposition.
Scott Reid becomes head of pricing and reinsurance and Richard Halley becomes partnership manager.
Former BCC policy director will also be responsible for developing policy at the Association of Mortgage Intermediaries and the Association of Finance Brokers.
Aifa has urged its members to support its stance that trail commission continue to be paid until a product matures or is terminated.
Advisers question whether the trade body will be able find someone both willing and able to lead Aifa.
SCM Private launches new code of conduct after research from the firm suggest over £18bn a year in hidden costs in dealing alone.
Lender also raising its maximum portfolio size to five properties worth £2m.
Alliance Trust has announced that chairman Lesley Knox is to retire in April and will be replaced by another female chair, Karin Forseke.
Former Schroders head of multi-manager Andrew Yeadon is set to join Old Mutual subsidiary Nedgroup Investments.
The board of 18 Guernsey-listed investment vehicles is suing Arch Financial for £150m over the failing of the £400m Arch cru fund range.
Live developments as pensions minister Steve Webb faces the work and pensions select committee over auto-enrolment.
Mike Morrow joins Ascentric from HSBC where he was UK head of commercial wealth management.
Ashcourt Rowan has appointed Skandia Investment Management founder Jim Roberts as a non-executive on its board.
The retail asset management industry could suffer in 2012 as banks compete to attract savings business, professional services firm Ernst & Young predicts.
Aviva Investors plans to axe 160 jobs globally as the asset manager takes steps to reduce its presence in the retail funds market.
Aviva has sold its Czech Republic, Hungary and Romania operations to MetLife.
Aviva Investors has bolstered its multi-asset range with addition of two funds targeting defensive and moderately cautious investors.
Paul Fox joins AWD Chase de Vere as private client manager for the north.
Insurer also waiving monetary limits that may apply to cancer outpatient tests.
Provider is segmenting its adviser clients into four divisions and cutting the number of regional managers from nine to five.
Intermediaries given access to underwriters for residential mortgage applications.
Barclays is relaunching its 75% LTV buy-to-let deals through brokers tomorrow and introducing a new ten-year fixed rate on its residential range.
Barclays has earmarked its wealth management business for growth during 2012, according to chief executive Bob Diamond.
Barings is to launch a global mining fund in March.
MPC holds base rate at 0.5% for 34th consecutive month.
Advisers say fund charges are not clear and transparent.
Bluefin Wealth Management will now come under the name of Bluefin Personal Consulting.
Average payout for critical illness claims was £82,000.
MEPs will today decide whether to keep Sharon Bowles and Arlene McCarthy at the top of a powerful EU committee.
Lib Dem Sharon Bowles remains chair while Labour MEP Arlene McCarthy stays on as vice-chair.
Three year deal will see the wealth management group’s branding appear on the players’ kit and at the county’s home grounds.
Business secretary wants an increase in shareholder power and more transparent pay reports.
FSCS says there should be a single point of access for consumers across the different regulatory bodies.
Lib Dem minister Jeremy Browne says RBS chief should turn down £963,000 bonus in shares.
Prime Minister admits to concern over “cliff-edge issue”, signalling a possible rethink in Chancellor George Osborne’s Budget.
David Cameron says former RBS chief could be stripped of his title.
Capita Financial Software is to spend £4m on software solutions in 2012 after moving its headquarters.
The IMA cautious managed sector ended 2011 as the highest selling sector, according to the latest industry figures from fund supermarket Cofunds.
Cazenove is waiving the £1m entry level to its wholesale share class for advised business through a platform.
Role of Chancellor in financial crisis strengthened in financial services bill.
Guernsey is preparing to overhaul its pension rules from April this year.
T. Rowe Price International’s Mark Bickford-Smith is to join Charlemagne Capital later this month as joint chief investment officer.
Charles Stanley is launching a direct to consumer platform and will partner with retail asset aggregation service AllMyPlans.
Professional body marking the 100 years since it was granted the Royal Charter with a centenary golf challenge.
Claims firms accounted for over 16,300 PPI complaints over three years.
Deputy prime minister will call for a “further and faster” rise in the income tax threshold to £10,000.
Nick Clegg calls for employee right to request shares in their company - EIS extensions being considered.
Arrangement fees waived for customers taking out mortgage before February 25.
The coalition is looking at allowing shareholders a right to veto share packages and deals.
Cofunds investment proposition manager Edward Roberts is looking for sponsorship ahead of his attempt to run the Marathon des Sables.
The Financial Services Consumer Panel says PRA must have duty to consider its recommendations.
Handsworth Breakthrough members to get compensation over next week after credit union placed into default.
Dalton Strategic Partnership has announced a number of changes to its ownership and management structure, following the death last year of founder Andrew Dalton.
Prime Minister David Cameron has abandoned plans to scrap the 50p rate of income tax until at least 2015, according to reports.
Asitha Rodrigo joins research firm from Standard and Poor’s.
Bluefin head of research and development David Cartwright joins Defaqto as head of insight.
Deloitte appoints former CML director general to role of startegic adviser to its financial services practice.
Dentons Pension Management has launched a new open architecture Sipp product which allows advisers to view the assets held within a client’s plan online.
Malcolm Green of MG Financial and Insurance services charged with 44 seperate offences.
Labour and Conservatives vow “constructive engagement” over Dilnot Commission’s recommendations.
Andrew Dilnot warns ministers not to go too far.
Octopus Investments head of private equity Chris Allner is to leave the firm to move to Downing, where he will be responsible for a private equity EIS scheme.
Pensions minister Steve Webb has confirmed the revised staging dates for automatic enrolment following the Government’s decision to delay the reforms for small and medium sized businesses.
Hargreaves Lansdown head of pensions research Tom McPhail says the upper earnings limit for minimum auto-enrolment contributions should increase from £39,853 to £42,475.
EEA Fund Management has hit out at the FSA after the regulator described traded life policies as “high risk, toxic products”.
Michel Barnier says he hopes for a swift agreement on new rules for investor compensation schemes.
Standard Life head of pensions policy John Lawson says it is “crystal clear” that occupational defined-contribution schemes can continue to differentiate according to sex.
Clause in capital requirements directive calls for EU loans to be treated as if in default at 90 days in arrears rather than UK’s 180 days.
Eurozone crisis treaty draft says strict fiscal rules could become law for all EU members after five years.
Morningstar European fund flow data shows outflows of over £100bn from long-term funds in 2011.
The UK was one of two countries out of 27 that refused to sign an EU treaty that enforces stricter budgets.
European stock markets have fallen today as talks between Greece and its private bondholders stall.
Markets across Europe have fallen today as worries continue to rage over the eurozone’s most debt ridden countries.
The EP has backed a motion saying fiscal pact must increase democratic accountability measures, address growth and include financial transaction tax.
Malcolm Green of MG Financial and Insurance Services, made over £1m from fraud and deception offences.
Former James Hay duo Richard Mattison and Jane Davies have bought Manchester-based pension provider Whitehall Group.
Daniels joins firm which specialises in restructuring debt for companies in need of new financing.
Former T. Bailey chief investment officer Jason Britton has started his own investment management consultancy.
Phil Cliff has joined M&G Investments and will manage the M&G European dividend fund.
Govt accepts criticism dual compaints system will be less transparent and less effective.
Martin Wheatley says consumers are not rational and that the new regulator will protect them by getting involved earlier in product design.
FCA power to ban or restrict products for up to a year without consultation kept in financial services bill.
Fidelity Worldwide Investments has called on the asset management industry to create an industry standard in a bid to offer to greater transparency for fund charges.
Fidelity Worldwide Investment is to add to its equity income range with the launch of the Fidelity Global Dividend fund for manager Daniel Roberts at the end of the month.
Fidelity Worldwide Investment’s Sanjeev Shah says he remains convinced that markets will not enter into a double dip recession.
A fraudster has had almost £5m confiscated from him after exploiting Friends Provident between 2005 and 2009.
Fitch assigns special servicer rating of RSS3 to Exact.
Credit ratings agency Fitch has downgraded the sovereign ratings of five eurozone countries, including Italy, Spain and Belgium.
Former Skandia and Cofunds chief executive Brett Williams has joined private equity firm Lime Tree.
Former Royal Bank of Scotland chief executive Sir Fred Goodwin has been stripped of his knighthood.
Former Towergate adviser who conned grandmother out of £150k life savings jailed for two years and four months.
Ombudsman has had difficulty retaining staff as banks lure adjudicators with higher pay packages.
Under ombudsman proposals firms with less than 25 complaints referred to FOS in a year will not incur the £500 case fee.
Germany, the Netherlands, Finland and Luxembourg to keep AAA rating.
Fidelity chief investment officer for equities Dominic Rossi says the downgrade of France by S&P is part of a “general re-pricing of sovereign debt”.
France is to go ahead with its own Tobin tax, French president Nicolas Sarkozy has revealed.
Frineds Life has appointed Mark Anders as sales and marketing director for individual protection and David Williams as director of group protection.
F&C Asset Management says the move will have minimal impact on revenues for this year.
Friends pays difference between pension and what client would have received through OMO.
Friends Life has revealed details of an online automatic enrolment “hub” designed to help employers meet their duties under the reforms.
Lazard & Co vice chairman will provide experience on regulatory, market and consumer matters.
Former JC Flowers UK chief executive Ravi Shankar Sinha has been fined for a fraudulent invoicing scheme.
Regulator has levied fine to prevent files requested by the FSA from being “improperly altered”.
Alexander Ten-Holter banned from performing compliance and oversight functions.
The IMA has labelled proposed guidance on the treatment of legacy business as “unclear and incomplete”.
The FSA has appointed Nest chairman Lawrence Churchill as the new chairman of the board of the Financial Services Compensation Scheme.
Firms regulated by the FSA paid out more than £160m in compensation to their clients last year,
Richard Anthony Joseph has been charged with eight counts of insider dealing and two counts of money laundering.
FSA warns lenders over the wording they use in their contracts for interest-only mortgages.
Private customers of MF Global will receive a claim form for compensation within the next few days.
Chief executive Mark Neale says review of funding model should address unpredictability and fairness of current system.
The FTSE 100 has risen by more than 1% in early trades in reaction to the better-than-expected start to the U.S. corporate earnings season.
The FTSE has risen by more than 1 per cent in early trades.
FTSE 100 jumps 2.2 per cent to stand at almost 5,700.
European markets turn positive in late trading.
Fidelity FundsNetwork has added Hawksmoor Investment Management to its DFM service.
Germany is considering pushing for UK-style share stamp duty in an effort to get tax applied across the EU.
The Government has lost its appeal against a High Court ruling that its decision to lower solar feed-in tariff payments was illegal.
Treasury proposals reflect concerns over previous objective of ensuring “confidence”.
The Government has decided to appeal against a High Court ruling which said its solar feed-in tariff payments were illegal.
Financial services bill requires committee co-ordinating communication between UK and EU regulators.
Pensions minister Steve Webb is considering removing the requirement for private sector defined-benefit pension schemes to be index-linked to inflation, according to the FT.
Pensions minister Steve Webb’s plan to scrap inflation linking for defined-benefit schemes will only affect future retirees.
Pensions consultant John Ralfe says Government concessions offset savings from increase in retirement age to 67.
Government snubs BBA call for financial stability watchdog to ensure “stable and sustainable” supply of credit.
Financial Services Bill rejects FSA’s argument that it should not consult firms being investigated before publishing their details.
Shapps calls on councils to help pensioners downsize to free up housing stock for families.
Huhne says the Government is to looking to appeal to the Supreme Court.
The campaign, which begins on Monday, will include radio, print, online and outdoor advertising as the pensions industry builds towards the launch of auto-enrolment in October.
The Government leaves decision to publish FCA minutes up to board.
However, gross lending down 12% from £13.2bn advanced in November.
Guernsey Finance has backed the island’s plans to resist HMRC rules.
Number of FOS cases from claims management companies has gone from 18 per cent in 2007 to 45 per cent last year.
Henderson Global Investors has appointed Jim Irvine as head of its fixed income business.
RBS chief executive Stephen Hester is set receive an annual bonus of between £800,000 and £950,000, say reports.
Hennah joins HML after nearly 12 years with KPMG.
Treasury financial secretary Mark Hoban says France’s unilateral FTT does not make one across the eurozone inevitable.
Treasury financial secretary moves to reassure insurers they will not take a back seat to banks in new regulatory set up.
Statement by Honister Capital says firm will be able to pay debts over next 12 months.
Average house price now stands at £160,063, according to Halifax.
£3bn of lending set aside specifically for first-time buyers.
Countrywide is named panel manager.
Asset Protection Strategy says charges are potentially very punitive for customers.
Government concessions following negotiations with trade unions mean reforms will save “little or no money” in the long-term.
The IMA has hit back over accusations of hidden fund cost charges.
The IMA has launched the Mixed Investment 0-35 per cent Shares sector, after it was delayed earlier this year due to lack of demand.
The launch of one of the Investment Management Association managed sectors has been delayed as there are too few funds to populate it.
Lagarde says extension is needed to prevent the likes of Spain and Italy going into default.
IMF cuts forecast for 2012 from 4% to 3.3%; UK economy to grow 0.6% in 2012.
The IMF has warned that the global economy is “deeply in the danger zone” because of risks from the eurozone.
Invesco Perpetual is launching a global financial capital fund for managers Paul Causer and Paul Read.
Savers will be able to withdraw £3.4bn in with-profit bonds this year without paying a penalty fee, according to Skandia.
Carol Blair joins software firm from Focus Solutions while Simon Thomas and Johann Koch also join.
The Pensions Regulator has ordered broadcasting giant ITV to provide support for the Box Clever pension scheme, which has a £62m deficit.
Malone’s contract was due to end in December.
Bluefin Wealth Management and Bluefin Corporate Consulting chairman John Simmonds has left the Axa-owned advisory business to pursue other interests.
JPM chief says the firm considered quitting Ireland, Italy, Portugal, Greece and Spain.
Jupiter undervalued assets fund manager Patrick Harrington has quit the firm with immediate effect.
Rate cut from 6.5% to 6.4% for new applications.
Kames Capital has today made three new appointments to its fixed income team.
Mazars looks at the role of family-run IFAs in the wake of the RDR.
BoE governor calls for fair decisions on bonuses.
King said there was scope for more QE if needed.
MF Global administrator KPMG has defended its role in recovering assets for creditors and clients in the failed broker.
KPMG set for backlash over slow progress in recovering MF Global cash and assets.
Legal & General has agreed a £1bn longevity insurance deal with the Pilkington Superannuation Scheme.
LGIM has launched a commodity index tracking product with exchange-traded product provider Source.
Labour’s Lord Glasman slams weak Labour leadership and says 2012 must be a year of surprises from Ed Miliband and Ed Balls.
Treasury financial secretary Chris Leslie says £85,000 limit should apply to each company not the groups which own them.
Labour proposal for shareholder power over board appointments is not the answer to ineffective corporate governance, says CMS Cameron McKenna.
IMF chief Christine Lagarde backs Greece and says the embattled currency will survive the next 12 months.
One of Scotland’s biggest firms of surveyors has ceased trading after directors took the decision to place the company into liquidation.
Two-year fix now available for 5.69% at 80% LTV.
The SEC has charged a life settlements brokerage and three senior executives for their involvement in a fraudulent disclosure and accounting scheme.
Firm to launch European absolute alpha and Asian income funds in Q1.
Firm rebranded as Primetime Retirement and links with Investec to launch a new fixed-term annuity product.
Chief executive Kim Lerche-Thomsen says the firm is negotiating with several companies who could potentially underwrite the new products.
Lloyds Banking Group announces 700 job cuts in various parts of business as part of plan to reduce 15,000 roles.
Lloyds Banking Group has announced changes to its board and management team.
Rates cut by 0.1%.
Changes will result in more people getting immediate online decision.
M&G has appointed Colm D’Olier as deputy manager on two funds.
M&G Investments has appointed Alex Jeffrey as the chief executive of its real estate fund management business.
King says instead of reforming Bank’s court, a new in-house oversight committee should be set up.
The six month exclusivity deal means the provider’s Freedom Income Plan will now be available to clients and advisers on the pensions shopping around platform.
MetLife UK has recruited Friends Life head of group risk Stephanie Baillie as it prepares for an assault on the employee benefits market.
Dickson is currently global systems and operations director for Diageo’s global procurement function.
Annuity specialist MGM Advantage has appointed Jim Roberts as a non-executive director.
Cameron refuses to action legislation to force banks to publish how many staff earn over £1m.
Labour leader Ed Miliband says Cameron should take action to prove he is serious about taking on crony capitalism
Ministers advised to cap individuals long term care funding liability at between £50,000 and £60,000.
Under MMR rules at least a third of sub-prime borrowers would still be mortgage prisoners, despite a clause designed to help those trapped in their properties or loans.
MAS chief Tony Hobman and four senior managers shared a £100,000 bonus pot.
Anthony Bolton’s £510m china special situations trust has been rated as ‘neutral’ by Morningstar for its new investment trust service.
The Government says the NewBuy guarantee scheme will be available to movers as well as first-time buyers.
In November, market experiences only the second year-on-year increase of 2011.
Conservative MP Douglas Carswell says Bank policy helped stoke credit bubble and is failing to deal with fallout from the crisis.
Conservative MP Ben Gummer will today propose tax statements setting out how much tax you pay and how it is spent.
The MPC voted unanimously to keep the base rate on hold and maintain the quantitative easing programme at £275bn earlier this month, minutes of the meeting have revealed.
The Treasury select committee says Bank proposals to increase accountability are not enough.
Treasury select committee report says current proposals do not provide adequate scope for scrutiny and must be improved.
MPs disappointed by PM’s rejection of calls for investigation but will continue to push for inquiry.
Available up to 75% LTV with a fee of £295.
The study will focus on whether regulation of DC schemes by TPR effectively addresses the key risks to scheme members.
Field-based BDM team slashed from 40 to 19.
A ruling in a High Court case between GMAC-RFC and Countrywide Surveyors could result in fewer lenders making claims of negligence against surveyors.
TCAM will help the Government-backed pension scheme formulate policy on environmental, social and governance issues as part of its investment strategy.
The IMA has reported a year-on-year slump in net retail fund sales during November.
A revised draft version of HMRC’s RDR guidance on VAT liability suggests the entire advice process will be exempt from VAT.
Newton’s investment chief Jeff Munroe is to head up global equities.
Mark Nichols has taken over from Paras Anand on the F&C European growth and income fund.
Nucleus has bolstered its senior management team with the appointment of John McNeil as managing director.
The Office of Fair Trading is to look at the anticipated acquisition by Mortgage Brain of MortgageStream.
Old Mutual is to combine its continental Europe wealth management business and its Skandia Europe retail businesses.
Old Mutual Asset Managers has made head of strategic alliances Kevin Bull redundant, Money Marketing understands.
PwC and CBI survey shows optimism in the investment management industry shrank to record lows in 2011.
Paradigm is to launch its corporate wrap next week as a standalone business which is likely to be branded Amber.
The Paragon Group of Companies, Paragon Mortgages’ parent company, lent £38.6m in buy-to-let loans during the final quarter of 2011, an interim management statement has revealed.
Stopard joins the enhanced annuity provider from Sun Life Financial of Canada, where he was head of marketing.
The Pensions Regulator is examining whether the RDR makes IFAs less attractive to firms navigating auto-enrolment.
Perspective Financial Group announced has acquired Gateshead-based IFA practice, Vivienne Shepherd Limited.
Perspective Financial Group raises £3.5m through long-term partners Lloyds Bank Wholesale Banking and Markets.
12% of respondents said they have pet insurance, compared to 9% who had CI and 4% who had IP.
Phoenix Group has announced it is still in discussions with private equity firm CVC Capital Partners regarding a possible acquisition.
imco has launched two new actively managed sub-funds as part of its Global Investor Series fund range.
MP who led inquiry into financial education in primary and secondary schools says PM is supportive of campaign.
Parliamentary motion calling for urgent action on charges signed by over 40 MPs
Congrave joined firm in 1986 and will retire later this month.
Aegon, Friends Life, Legal & General, Prudential and Scottish Life set out common approach on adviser charging.
PSigma Investment Management is relaunching its discretionary investment management service with lower fees.
UK arm of PricewaterhouseCoopers fined £1.4m and severely reprimanded by Accountancy & Actuarial Discipline Board.
Capital Economics says Bank of England could increase its QE programme by a further £75bn in February.
Wealth manager Quilter is to be sold to private equity company Bridgepoint, according to owner Morgan Stanley Smith Barney.
Rathbones head of multi-asset David Coombs has criticised the over-representation of asset managers on investment trust boards.
UKFI has confirmed that the sale of the government’s stakes in Royal Bank of Scotland Group and Lloyds Banking will take longer than expected.
RBS chief Stephen Hester to waive £1 million bonus.
Royal Bank of Scotland is looking to sell of its investment banking arm as part of a restructuring plan that could see up to 10,000 jobs cut from the firm.
PPI complaints referred to the FOS have shot up by nearly 60 per cent over the last three months.
Victims of a suspected mortgage fraud face repossession after losing their appeal against a High Court ruling.
Consumer research shows many clients who use an adviser currently believe there is no cost for financial advice.
Bob Morton steps down as chairman and Andy Raynor as chief executive.
Russell Investments head of UK IFA sales Danny Callaghan is to leave the firm.
Standard & Poor’s downgrades EFSF from AAA to AA+.
Crown Mortgage Management’s primary servicer ratings upgraded to “above average”.
Sanlam Private Wealth acquires two new client banks, taking its funds under influence to over £550m.
Barclays set to launch £750m covered bond.
FSA chief executive Hector Sants tells MPs he “had no interest” in staying at the regulator for more than three years.
Schroders has appointed Ian Maybury as head of solutions in the multi-asset and portfolio solutions group.
Fiona Elbourne joins SEI Global Wealth as head of operations.
Knutsford-based network appoints former Sesame chief operating officer Stephen Young as commercial director.
Rory Gravatt joins Sesame Bankhall Group from Distribution Technology.
Sesame Bankhall Group has appointed Pan Andreas as head of its newly formed wealth management team.
Avelo head of financial planning and wealth management James Stevenson appointed as head of adviser technology.
Parliamentary watchdogs say Labour MP’s Jack Dromey failure was unintentional but serious.
Oil giant becomes the final FTSE 100 company to abandon final-salary pension provision.
SimplyBiz hires Martin Reynolds as mortgages chief exec.
CII-accredited gap-fill programme to launch in February through events across the UK.
Fund launches follow the launch of SJP’s global equity fund in September.
Tim Steer replaces Kames Capital’s Audrey Ryan on global and UK best ideas funds.
Firm says 80 per cent of its members are now at diploma level status.
A spokeswoman for Standard Life says cutting annual bonus rates will give the provider greater flexibility when making future investment decisions.
Standard Life Investments has added to its MyFolio fund offering with two income ranges.
SLI has teamed up with John Hancock Mutual Funds to offers GARS fund to the US retail market.
Standard Life has succeeded in a claim against 11 PI insurers.
Lender says it is exploring offering mortgages through intermediaries.
Aifa director general Stephen Gay is leaving the trade body to join the Association of British Insurers.
Gay says his departure to the ABI does not represent a switch “from one side to another” and says Aifa has made significant progress over the last year.
Steve Bee says small firms will need advisers to comply compliance with auto-enrolment not just choose products.
IFA consolidator adds four new partner firms with total of just under £500m AUM.
Swip has appointed Dr Lucy O’Carroll to the role of chief economist.
Teachers’ unions the NUT and the NASUWT are seeking urgent meetings with Government ministers over proposed pension reforms.
Tenet appoints Simon Thomas as head of regulatory policy and David Pearce as head of training.
Tenet Group reports £300,000 pre-tax losses for year ending September 30, 2011.
Threadneedle has launched a European absolute alpha fund.
The three were sentenced to combined total of over 13 years in prison.
Towry chief executive Andrew Fisher has put the company’s planned stock market flotation on hold due to turbulent market conditions, The Mail on Sunday reports.
Pre-tax profits fall from £17.6m to £14.6m after £3.5m FSA fine for client money breaches.
Chancellor George Osborne is planning to raid local authority pension funds to help finance UK infrastructure projects, according to The Times.
True Potential offers its advisers shares along with 50 per cent uplift on investments over £1.2m on its Wealth Platform.
MPs say current objectives need change to avoid confusion and perverse outcomes.
FSA chairman regrets not publishing a full report on its investigation into RBS at an earlier stage.
TSC chair Andrew Tyrie says internal reviews of policy decisions not good enough without radically reformed Court
TSC chair Andrew Tyrie slams Govt for publishing financial services bill before major committee report into FCA.
UBS has been fined $300,000 by the SEC for “failing to properly price securities” in three mutual funds that caused a mis-statement of net asset value.
Dividend payments in the UK hit £67.8 billion during 2011 and are expected to rise 11% to £75 billion in 2012.
The UK economy shrank by 0.2 per cent during the fourth quarter of 2011, with negative growth blamed on “weakness” in the production sector.
IMF looking to double resources to stabilise global economy and asked members for bigger contribution.
Average price of a home is now £163,822.
The UK consumer prices index has fallen to 4.2% in December, according to the Office for National Statistics.
Trade union says a leaked letter from Communities Secretary Eric Pickles in December pre-empting reform negotiations caused a “crisis of confidence and trust”.
Trade union Unite has unanimously rejected the Government’s latest proposals for reform of the NHS pension scheme.
US to rethink Fatca rules amid concerns over privacy laws.
Lender reveals executive team today.
Virgin to assume shirt sponsorship from Northern rock for remainder of season and following two seasons.
Pensions minister Steve Webb tells MPs unexpected provider competition invites “reflection” on role of restraints.
Pensions minister Steve Webb says availability of simple products means small firms should not pay for advice unnecessarily.
FCA chief executive Martin Wheatley says there has been too much bad advice in the past.
Which? says research shows that advisers charge a “huge variation” of charges for services.
Provider says the new name “reflects how different our business is now, how we have changed and our plans for the future”.
Woolwich is relaunching its 75% LTV buy-to-let deals tomorrow, through its direct only channel.
Lender advises intermediaries to hold off submitting cases for next couple of days.
Lender launched buy-to-let offering in August, in London and South East only.