Money Marketing
Online - March 2010
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Montague Capital picks Praemium to run portfolios
11 Mar 2010
Montague Capital has picked Praemium’s discretionary platform to run its managed fund investment portfolios.
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Morgan Stanley - FTSE Tracker Plus Plan 2
16 Mar 2010
Morgan Stanley - FTSE Tracker Plus Plan 2
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Veritas bolsters global team
30 Mar 2010
Veritas Asset Management has appointed Neil Cooper as senior analyst for the global team.
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1st - The Exchange to rebrand
23 Mar 2010
The new name is expected to be unveiled in the summer, subject to consultation and legal planning.
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2plan launches client portal
19 Mar 2010
The portal provides online access to personal policy details and valuations direct from product providers.
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3A expects hedge fund managers to travel lite
1 Mar 2010
Fund of hedge funds manager 3A believes the introduction of hedge funds lite will force hedge fund managers who can operate in a more regulated environment to do so.
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3DCM introduces mortgage interest rate cap
1 Mar 2010
Cap insures protection against base rate increases.
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80% of IFAs support Aifa legal challenge against FSCS levy
31 Mar 2010
IFAs show strong support for an Aifa legal challenge against FSCS £80m levy.
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Abbey For Intermediaries - Two-Year Tracker
17 Mar 2010
Abbey For Intermediaries - Two-Year Tracker
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Abbey For Intermediaries - Two-Year Tracker
18 Mar 2010
Abbey For Intermediaries - Two-Year Tracker
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Abbey For Intermediaries - Two-Year Tracker
18 Mar 2010
Abbey For Intermediaries - Two-Year Tracker
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ABI warns crisis response could kill UK insurance industry
19 Mar 2010
ABI chairman Archie Kane says insurers are not as risky as banks.
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Absolute return funds boost Gartmore's assets under management
9 Mar 2010
Gartmore reports net inflows of £485m into its mutual funds boosting assets under management by 19 per cent.
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Accord withdraws products
15 Mar 2010
Accord has launched a range of new products after withdrawing its existing range on Friday.
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Advisers back register for qualification data
18 Mar 2010
Research reveals divide on meeting 2012 deadline
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Advisers question FSCS stance on non-Isa Keydata claims
22 Mar 2010
Several non-Isa Keydata clients receive rejections for compensation from the Financial Services Compensation Scheme.
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Aegon appoints ex-Sesame boss Gale as distribution chairman
4 Mar 2010
Patrick Gale becomes chairman and Iain Black chief operating officer of distribution, in charge of Origen and Pos Sol.
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Aegon launches RDR support centre
18 Mar 2010
The centre is available to all advisers and offers practical planning and guidance.
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Aegon pilots premium waiver and rehab service for IP
17 Mar 2010
Aegon is piloting a physiotherapy service and a waiver of premium for its income protection policyholders.
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Aegon targets pension funds with active property launch
2 Mar 2010
Aegon Asset Management is targeting pension funds with the launch of a value property fund that will offer an initial projected yield of 7 per cent.
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AES International gets first licence in Dubai
18 Mar 2010
International adviser firm AES International expands into the Middle East.
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Affinity links are big draw for advisers
18 Mar 2010
’The wishlist of the average IFA right now is that they simply want more clients’
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Aifa starts work on platform guide
3 Mar 2010
The guide aims to outline the due diligence dangers of picking a platform.
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Alistair Darling launches Moneymadeclear
11 Mar 2010
The new financial advice service is expected to help a million people in its first year.
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All-time low interest rate continues into 12th month
4 Mar 2010
MPC holds at 0.5% and continues to limit QE to £200bn.
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Amanda Davidson steps down from Aifa to pursue FSA role
18 Mar 2010
Aifa deputy chair Amanda Davidson is stepping down from the role following her appointment to the FSA board to avoid any potential conflicts of interest.
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An Ingenious idea
4 Mar 2010
Ingenious Investments - Entertainment VCTs 1 and 2 D Shares
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Architas tips the balance
26 Mar 2010
Axa Group’s multi-manager arm Architas has established two funds of funds that aim for a degree of capital protection through a time invariant portfolio protection investment strategy.
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Ascentric launches branding service for IFAs
12 Mar 2010
The service allows advisers to integrate their brand into the Ascentric platform and brand each page.
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Ascentric strengthens business development team
22 Mar 2010
Julia Dobell joins the wrap from The Hartford.
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Attractive flexibility from the Coventry
26 Mar 2010
Coventry Building Society - 3.99% Flexx Fixed Rate Remortgage
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Aviva academy aims to explain process of underwriting
18 Mar 2010
Aviva is setting up an underwriting academy to help advisers understand the process, following a successful pilot.
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Aviva adds drawdown functionality to wrap
24 Mar 2010
Aviva is adding a drawdown functionality on its wrap to allow customers to draw income on specific funds.
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Aviva calls for rethink on consultancy charging
17 Mar 2010
The insurer promotes factoring claiming current proposals are set to restrict access to advice on corporate pensions.
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Aviva doesn't rule out Pru UK bid as it posts £1.8bn profit
4 Mar 2010
This compares to a loss before tax of £1.3bn for 2008 on an IFRS basis.
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Aviva enters Indonesian insurance market with joint venture
18 Mar 2010
Aviva has entered the Indonesian insurance market after acquiring a 60 per cent stake in PT Asuransi Winterthur Life Indonesia.
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Aviva launches new group CI proposition
15 Mar 2010
Group customers can choose from a standard list of illnesses and procedures or an extended list.
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Aviva reduces acceptance time by 40%
19 Mar 2010
Aviva has almost halved the time it takes to accept a protection application.
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Aviva UK Health appoints chief surgical officer
23 Mar 2010
Tom Dehn will be working closely with Aviva UK Health chief medical officer.
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AWD Chase de Vere plans £1.4m investment to boost client offering
2 Mar 2010
AWD Chase de Vere has appointed Focus Solutions to provide software support to bolster adviser efficiency and its client service proposition.
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Axa IM to bring US fixed income fund to market
22 Mar 2010
Axa Investment Managers is planning to launch its US short duration high yield fund into the UK market, subject to regulatory approval.
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Axa terminates MPPI contract with Berkeley Alexander
23 Mar 2010
From March 31 the provider will no longer underwrite Berkeley Alexander’s mortgagesure and mortgagesure plus products.
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B&B debt holders denied payout
8 Mar 2010
Holders of PIBS will not be in line for compensation for missed coupons.
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Baillie Gifford - Global Alpha Growth Fund
22 Mar 2010
Baillie Gifford - Global Alpha Growth Fund
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Bank clerk and husband found dead, say reports
18 Mar 2010
An ex-HSBC bank clerk who went missing on Tuesday before she was due to be sentenced for stealing money from elderly clients has reportedly been found dead with her husband.
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Bank clerk who stole from elderly clients goes on the run
16 Mar 2010
Ex-HSBC clerk disappeared just hours before sentencing at Southwark Crown Court today.
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Banks are committed to repaying the taxpayer
18 Mar 2010
British Bankers’ Association chairman tells Lord Myners banks should not be a burden on society.
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Barclays Wealth - UK Accumulator February 2010 Issue
16 Mar 2010
Barclays Wealth - UK Accumulator February 2010 Issue
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Baring Asset Management - Mena Fund
15 Mar 2010
Baring Asset Management - Mena Fund
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Baring unveils a Mena machine
17 Mar 2010
Baring Asset Management is launching a Mena fund focusing mainly on equities in the Middle East and North Africa.
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Barings appoints head of Latin American equity
1 Mar 2010
Barings Asset Management has appointed Roberto Lampl as head of Latin American equity.
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Beware the pre-election spin
5 Mar 2010
You can tell a general election is in the air as the Government cranks up its spin machine a few notches.
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Blue Sky Asset Management - Capital Accumulator Auto-Call Plan - Dual Index Series VI
25 Mar 2010
Blue Sky Asset Management - Capital Accumulator Auto-Call Plan - Dual Index Series VI
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Blue Sky Asset Management - Enhanced Growth Plan FTSE 100 Series
31 Mar 2010
Blue Sky Asset Management - Enhanced Growth Plan FTSE 100 Series
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Blue Sky launches new growth plan strategy
31 Mar 2010
Structured product provider Blue Sky launches enhanced growth plan FTSE 100 series.
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Bluehone Investors - Aim VCT 2 Top Up
29 Mar 2010
Bluehone Investors - Aim VCT 2 Top Up
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Bradford & Bingley reports £196m pre-tax loss
19 Mar 2010
The bank reported a pre-tax loss of £196m in 2009, compared to a £278m loss in 2008
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Bramdean Alternatives to move to private equity
9 Mar 2010
The Bramdean Alternatives investment trust board is proposes re-branding to Aberdeen Private Equity.
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British Insurance appoints new MD
8 Mar 2010
Nel Mooy replaces Simon Burgess.
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Brokers being used to commit mortgage fraud
1 Mar 2010
UK’s fraud prevention service says fraudsters are using intermediaries to help them carry out their crime.
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Brown declares he is best person to lead recovery
10 Mar 2010
PM reveals Budget date of March 24 and says UK is at a crossroads.
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BUDGET 2010: "noise and no honesty", says Clegg
24 Mar 2010
Nick Clegg slams both parties for making “lots of noise” and showing “no honesty whatsoever” during the delivery of today’s Budget.
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BUDGET 2010: £2bn for new green investment bank
24 Mar 2010
Chancellor Alistair Darling has announced the Government is setting up an investment bank that will control £2bn worth of equity for investing in green transport and sustainable energy.
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BUDGET 2010: A muted affair?
25 Mar 2010
On the whole this was something of a Robin Hood Budget, milking the very wealthy for more tax to stave off tax rises for everyone else, for now at least.
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BUDGET 2010: AIC welcomes plans to review tax legislation on investment trusts
24 Mar 2010
The Association of Investment Companies has welcomed the announcement that the Government intends to review the tax legislation for investment trust companies.
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BUDGET 2010: Bank bonus tax nets twice as much as expected
24 Mar 2010
The Chancellor Alistair Darling has revealed that the one-off 50 per cent tax on bank bonuses announced in the pre-Budget report has netted £2bn –more than twice as much as was expected.
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BUDGET 2010: Cameron slams "pitiful" budget
24 Mar 2010
Tories call for “real action”.
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BUDGET 2010: Darling could increase stamp duty threshold to £250,000
24 Mar 2010
The Chancellor may abolish the stamp duty threshold for first time-buyers on house purchases under £250,000.
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BUDGET 2010: Darling expected to freeze income bands in 'stealth tax'
24 Mar 2010
Millions set for higher income tax bills as the Chancellor plans to freeze all income tax bands.
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BUDGET 2010: Darling unveils £200m fund for growth
24 Mar 2010
The Chancellor Alistair Darling has unveiled a £200m fund to help finance fast-growing companies.
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BUDGET 2010: Expert warns of clampdown on employee benefit trusts
25 Mar 2010
Trust and estate practitioner Paul Willans warns of Government action against trusts and special purpose vehicles that reward employees.
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BUDGET 2010: Experts query Isa increase
24 Mar 2010
Advisers and industry experts have questioned the decision by Chancellor Alistair Darling to increase the Isa allowance in line with inflation.
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BUDGET 2010: Fitch warns of continued UK economy fears
24 Mar 2010
Fitch Ratings says the UK economy is still vulnerable to any economic shocks regardless of the measures outlined in today’s Budget.
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BUDGET 2010: Govt announces new measures to combat tax evasion
24 Mar 2010
Govt announces it is ready to sign three new information agreements with Dominica, Grenada and Belize.
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BUDGET 2010: Govt backed group to investigate bank sales incentives
24 Mar 2010
The Retail Financial Services Forum will look at how staff targets and incentives within banks disadvantage consumers.
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BUDGET 2010: Govt cuts small business rates and doubles investment allowances
24 Mar 2010
Small business rates cut, CGT relief for entrepreneurs increased to £2m.
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BUDGET 2010: Govt extends help for unemployed
24 Mar 2010
Chancellor Alistair Darling is extending the support Government offers the unemployed.
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BUDGET 2010: Govt freezes IHT threshold for four years
24 Mar 2010
Chancellor Alistair Darling has announced Government is freezing the Inheritance Tax threshold for four years.
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BUDGET 2010: Govt to force state-backed banks to lend £94bn
24 Mar 2010
The Chancellor has set RBS and Lloyds lending target of £94bn for the coming year, half to SMEs.
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BUDGET 2010: Growth forecast for 2010 remains at 1-1.5%
24 Mar 2010
Darling holds steady on growth forecasts for 2010, but revised 2011 forecast downwards.
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BUDGET 2010: HMRC to consult on income verification service for lenders
24 Mar 2010
HMRC could formally introduce a service for lenders to check affordability.
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BUDGET 2010: IMA welcomes plans to improve competitiveness of UK funds
24 Mar 2010
The Investment Management Association has welcomed plans to improve the competitiveness of UK domiciled funds.
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BUDGET 2010: Isa limits to rise annually with inflation
24 Mar 2010
Isa limits to rise in line with inflation annually.
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BUDGET 2010: New adjudicator for credit with power to enforce judgements
24 Mar 2010
The Chancellor has revealed that the Government will set up a new adjudicator to review complaints from small and medium enterprises who have been denied credit.
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BUDGET 2010: No increase to CGT, confirms Darling
24 Mar 2010
Darling confirms there will be no increase to the capital gains tax rate.
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BUDGET 2010: One third of civil service to move out of London
24 Mar 2010
The Chancellor has revealed that a third of civil servants will be moved out of London, including the Ministry of Justice, in a bid to cut costs.
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BUDGET 2010: Stamp duty threshold doubled - rate hiked for £1m homes
24 Mar 2010
The Chancellor Alistair Darling is to double the stamp duty threshold from £125,000 to £250,000 for this year and next for first-time buyers but the rate for properties worth more than £1m is to increase to 5 per cent.
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BUDGET 2010: Tories bank tax plan would cost thousands of jobs
24 Mar 2010
Going ahead with UK banking regulation without global agreement would cost thousands of UK jobs, according to the Government.
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Budget hopes and fears
22 Mar 2010
Advisers warn Alistair Darling against raising Capital Gains Tax.
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Budget will be "workmanlike," says Darling
22 Mar 2010
The Chancellor says Wednesday’s budget will contain no “give-aways” and no VAT rise.
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Bupa - Dental Choice
23 Mar 2010
Bupa - Dental Choice
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Bupa - Dental Plan
23 Mar 2010
Bupa - Dental Plan
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Bupa enhances group dental plans
31 Mar 2010
Bupa has enhanced its group dental plan and dental choice plans by adding new levels of cover, new benefits such as oral cancer cover and worldwide emergency treatments, and increasing limits for frequency used benefits including routine examinations.
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Bupa offers Best Doctors to group CI customers
19 Mar 2010
Claimants and their families can now access independent medical information from Best Doctors.
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Bupa reports 117% surplus increase
9 Mar 2010
Bupa has reported a 117 per cent increase in surplus before tax for 2009.
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By the buy
18 Mar 2010
What consolidators are looking for in IFA businesses
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Can narrow banking ever be profitable?
3 Mar 2010
Bank governor argues for guaranteed deposits and low interest rates - but can narrow banks make a decent profit?
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Canada Life Investment appoints new marketing head
1 Mar 2010
Frank Maret joins as head of investment marketing and client service from Insight Investment.
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Cartel solicitor shut down
12 Mar 2010
Lawyer used by Cartel Client Review shut down by solicitor regulator.
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Cater Allen Private Bank - Capital Guaranteed Growth Plan 5
30 Mar 2010
Cater Allen Private Bank - Capital Guaranteed Growth Plan 5
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Charge ahead
18 Mar 2010
Fiona Tait - Provider View
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Chartered Institute of Taxation warns Chancellor not to rush Finance Bill
18 Mar 2010
The Chartered Institute of Taxation urges Darling not to rush through significant tax measures without adequate scruitny in the “dying days” of the current Parliament.
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Cirencester pays 94% of IP claims
16 Mar 2010
The income protection provider says declined claims were due to non-disclosure and no evidence of loss of earnings.
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City firms targeted in damning Lehman’s report
15 Mar 2010
Linklaters and Ernst & Young deny accusations they masked billions of debt for Lehman Brothers prior to its collapse.
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Clapper acquires stake in Viva Costa
5 Mar 2010
Ex-Enterprise founder and group chief executive re-enters broker services market in Viva Costa deal.
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Close appoints Nancy Curtin as CIO
15 Mar 2010
Ex-Fortune Asset Management CIO appointed new CIO of Close.
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Cofunds apologises for Park Row letter
17 Mar 2010
Platform says sorry to ex-Park Row advisers after contacting their clients directly and encouraging them to find a new adviser.
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Cofunds founder Creak sets up own firm
3 Mar 2010
Cofunds co-founder and former business development director Andy Creak has set up his own financial services firm.
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Cofunds/Fidelity team up to offer Isa/Sipp collection opportunity
16 Mar 2010
Fidelity Fundsnetwork and Cofunds have partnered to offer advisers help with any last minute collection of Isa and Sipp applications.
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Cognitive behavioural therapy added in Westfield’s cash plan revamp
12 Mar 2010
Westfield Health is adding cognitive behavioural therapy (CBT) to its Foresight Healthcare Plan as a part of a range of improvements to the product.
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Collins Stewart acquires Corazon Capital
18 Mar 2010
Collins Stewart acquires Corazon bringing assets under management to £6bn.
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Confidence in the property market fragile, says BSA
17 Mar 2010
Just 49 per cent of people surveyed agree now is a good time to buy a property
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Consumer Focus group issues super-complaint to OFT over cash Isa market
31 Mar 2010
The Consumer Focus group has issued a super-complaint to the Office of Fair Trading about the poor state of the UK cash Isa market.
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Contrasting fortunes for bond funds
30 Mar 2010
IMA stats show strategic bonds topped net retail sales for February with corporate bond funds staying rock bottom.
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Corporate bond funds hit rock bottom
8 Mar 2010
UK corporate bond funds saw net outflows of £228m in January, making them the least popular asset class, according to the Investment Management Association.
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Coventry Building Society - 3.99% Flexx Fixed Rate Remortgage
17 Mar 2010
Coventry Building Society - 3.99% Flexx Fixed Rate Remortgage
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Coventry Building Society - Three-Year Fixed Rate Mortgage
19 Mar 2010
Coventry Building Society
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Coventry building society reports pre-tax profit of £56.2m
2 Mar 2010
The society increased pre-tax profit 115 per cent from £26.4m in 2008.
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Crooked bank staff jailed for stealing half a million pounds
1 Mar 2010
A gang that targeted high value bank accounts in a bid to steal almost a million pounds have been sentenced at Southwark Crown Court.
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Darling to launch new offshore crackdown
23 Mar 2010
The Chancellor is expected to announce tough new measures on offshore tax evasion in tomorrow’s Budget.
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Deloitte requests more info from Keydata claimants on KPMG
31 Mar 2010
Deloitte asks Keydata clients for more information about the firm’s representations made about KPMG.
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DFM popularity down to perceptions says Apollo
4 Mar 2010
Apollo Multi-Asset Management believes the increasing popularity of discretionary fund management among IFAs is driven by perceptions that a DFM is better than a fund of funds.
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Downing Corporate Finance/NVM Private Equity - Northern 3 VCT
4 Mar 2010
Downing Corporate Finance/NVM Private Equity - Northern 3 VCT
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Dual charging for GPPs endorsed by DWP, say providers
16 Mar 2010
The Department for Work and Pensions’ approval of a combined charging structure for Nest marks a validation of dual charging for private sector schemes, say providers.
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Dunfermline unveils IFA service
23 Mar 2010
Customers can access whole-of-market independent financial advice throughout Dunfermline branches.
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Dynamic five from the Pru
5 Mar 2010
Prudential has unveiled five funds of funds for its dynamic portfolio range.
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E&Y to face questioning from audit watchdog
16 Mar 2010
Ernst and Young is to face questioning from the Financial Reporting Council over Lehman Brothers’ accounts.
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Employers to start moving to Nest within 14 months - Pada
29 Mar 2010
Pada is expecting employee benefits consultants to start placing large employers with Nest by next summer, just months after the scheme formally opens its doors to business.
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Equitable action group rejects Chadwick review
16 Mar 2010
EMAG labels Chadwick’s review a “Treasury stitch up” and refuses to cooperate.
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European Commission calls on UK to speed up cuts
16 Mar 2010
Brussels warns Gordon Brown that planned spending cuts are “not sufficiently ambitious”.
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European court rejects appeal to inflation-proof expat pensions
16 Mar 2010
European Court of Human Rights rejects appeal by pensioners by 11 to 6 majority.
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European investment directive delayed after Brown intervention
17 Mar 2010
EU legislation to curb the powers of hedge funds has been delayed until after the general election.
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Evercore launches first funds for the retail market
2 Mar 2010
Evercore Pan Asset Capital Management has launched its first set of funds for the retail market.
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Evercore Pan-Asset launches Oeics on Ascentric
9 Mar 2010
The two funds will run exclusively as model portfolios on Ascentric and will invest in selected ETFs.
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Ex-Cazenove partner jailed for 21 months
11 Mar 2010
Malcolm Calvert sentenced to jail after being found guilty of insider dealing yesterday.
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Exeter Family Friendly - Health and Stuff
31 Mar 2010
Exeter Family Friendly - Health and Stuff
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Exeter Friendly appoints head of intermediary sales
30 Mar 2010
Mike O’Brien joins the mutual from JMD Associates.
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Existing Quinn Insurance PII cover still valid, says FSA
30 Mar 2010
Regulator says IFAs with PII through Quinn remain covered after the firm went into administration today.
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Fidelity CIO Nicky Richards resigns
23 Mar 2010
Fidelity International chief investment officer Nicky Richards is leaving the firm after four years.
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Fidelity International - China Special Situations
24 Mar 2010
Fidelity International - China Special Situations
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Fidelity predicts corporate bond outflows for Isa season
23 Mar 2010
Latest Fidelity fund/sector stats show greater appetite for risk assets from investors.
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Final member of mortgage fraud gang jailed
19 Mar 2010
Fraudster who was on the brink of obtaining an illeagal £1.2m loan is sentenced to three-and-a-half years.
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Finance Bill could allow FSA to name and shame firms earlier
23 Mar 2010
The identities of firms under FSA investigation could be revealed earlier if the Financial Services Bill is passed.
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'Financial adviser' and ex-football club boss jailed
5 Mar 2010
Ex-Blackpool Football Club chief executive who described himself as a “financial adviser” jailed for laundering money for a drug dealer.
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Fitch downgrades Portugal
24 Mar 2010
Inspite of credible austerity measures the ratings agency says the Portuguese economy has siginificantly underperformed.
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Fitch says fast-track mortgages are performing like prime loans
3 Mar 2010
Agency found that, in most cases, fast-track loans are less likely to default than fully-income verified mortgages.
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Fitch takes shot across UK bows
9 Mar 2010
Ratings agency warns UK Government must announce debt plans or risk AAA status.
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Five themes from Sarasin
25 Mar 2010
Sarasin & Partners - Sarasin EquiSar UK Thematic Opportunities
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Foresight Group - Foresight Planned Exit VCT
9 Mar 2010
Foresight Group - Foresight Planned Exit VCT
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Former Aviva Investors head joins TCF's investment committee
17 Mar 2010
Former Aviva Investors head of retail structured products Dr Jeremy Bezant joins the TCF Investment Committee.
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Former Cazenove partner guilty of insider dealing
10 Mar 2010
Malcolm Calvert has been found guilty on five counts of insider dealing at Southwark Crown Court today.
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Former Lehman chief to head up Macquarie Europe
2 Mar 2010
Lehman Brothers COO to head up Australian group’s EMEA business.
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Former Lloyds TSB boss Sir Brian Pitman dies aged 78
12 Mar 2010
Former Lloyds TSB boss and chairman of Virgin Money Sir Brian Pitman has died aged 78.
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Former savings chief executive quits Standard Life
23 Mar 2010
Former Standard Life Savings chief executive Geoff Towers is leaving the group at the end of March.
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Fortis proposes name change to Ageas
10 Mar 2010
Fortis is to change its name to Ageas in 2011, subject to shareholder approval.
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FOS reports increase in complaints on deferral periods and MVRs
18 Mar 2010
The Financial Ombudsman Service has seen an increase in the number of complaints on deferral periods and market value reductions.
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Four banks charged with fraud
18 Mar 2010
UBS, JPMorgan Chase, Deutsche Bank and Depfa were charged with fraud yesterday.
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Free ifs roadshows mapping out the route to RDR success
18 Mar 2010
The ifs School of Finance will be running a series of retail distribution review regional roadshows in late March to offer advice to people working towards QCF level four.
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Free seminars offer training courses on structured products
18 Mar 2010
Research tool website structuredproductreview.com is now offering free structured product training courses for advisers.
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Friends demands immediate review of stakeholder structure in response to dual charge Nest
16 Mar 2010
Friends Provident is calling for an immediate review of stakeholder regulations to ensure a level playing field for providers by allowing them to adopt similar charging structures to that unveiled by Nest.
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Friends Prov urges employers to keep benefits package
16 Mar 2010
A recent Friends survey found that 34 per cent of employees would take a pay cut rather than lose their health benefits.
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Friends Provident MD Simon Clamp dies
12 Mar 2010
Friends Provident managing director of UK business Simon Clamp has died following a short illness.
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Friends Provident sells off Pantheon
24 Mar 2010
Friends Provident has sold its stake in Pantheon Financial Limited, writing off £23m in the process.
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Friends Provident to host business protection seminars
8 Mar 2010
The three seminars, available from March 22, are aimed at advisers who have different levels of business protection knowledge.
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FSA appoints Aifa's Amanda Davidson to board
18 Mar 2010
Aifa deputy chair and Baigrie Davies director Amanda Davidson has been appointed to the FSA board as a non-executive director.
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FSA bans former Merrill Lynch trader
16 Mar 2010
FSA bans a former senior trader at Merrill Lynch International Bank in London for mis-marking positions.
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FSA budget rises 18.3%, Sants warns better regulation costs more
17 Mar 2010
The FSA’s budget for 2010/11 has risen 18.3 per cent to £491m with an additional 460 staff planned.
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FSA cancels broker's permissions
5 Mar 2010
Oke Hassan failed to respond to several requests to pay £1,042 in regulatory fees
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FSA confirms Chelsea merger with Yorkshire
19 Mar 2010
The FSA has confirmed the merger of Chelsea Building Society and Yorkshire Building Society.
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FSA contacts 1,000 consumers targeted by share fraudsters
15 Mar 2010
The FSA and City of London Police have warned consumers on a “master list” used by fraudsters to protect themselves against scams.
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FSA delays liquidity requirements due to market conditions
8 Mar 2010
Higher liquidity requirements for firms have been delayed until economic recovery is assured.
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FSA estimates PPI redress could reach over £4bn
9 Mar 2010
The FSA says PPI redress could cost the industry over £4bn.
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FSA fines and bans mortgage broker for fraud
2 Mar 2010
Dele MacAulay has been fined £115,157 for knowingly submitting nine fraudulent mortgage applications for himself, his wife, and his brother.
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FSA fines could treble in size
1 Mar 2010
The FSA has published a new framework for penalties under which fines could treble in size.
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FSA fines IFA director £49,000 for pension switching failings
3 Mar 2010
Charles Palmer’s firm broadcast informational videos on the FSA’s pension switching review via IFA TV (see clip).
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FSA gives total premium disclosure deadline
30 Mar 2010
The FSA has given protection providers and distributors until the end of 2010 to implement its total premium requirement.
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FSA prepares for new financial stability objectives
17 Mar 2010
Bill will see FSA taking on new statutary objective of contributing to the protection and enhancement of the UK financial system.
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FSA reveals product regulation plans
12 Mar 2010
The FSA says it will intervene in product design to reduce risks for consumers.
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FSA signals re-reg crackdown
26 Mar 2010
The FSA has signalled it is looking to crack down on platforms that do not allow the re-registration of assets.
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FSA to crack down on bank advice
18 Mar 2010
The regulator plans to scrutinise bank advice and the incentives offered to sales staff.
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FSA to get tough on risky products
12 Mar 2010
Sants will set out new proactive strategy he believes will better protect the consumer.
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FSA to set out MMR rules in June
23 Mar 2010
The regulator plans to publish arrears and approved persons rules in June.
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FSA warns IFAs of increased conduct risk
10 Mar 2010
The regulator warns that moving into new product areas brings greater risks for advisers.
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FSA wins summary judgement against unlawful deposit-takers
25 Mar 2010
The High Court finds three people unlawfully accepted deposits from UK consumers.
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FSCS £80m levy offends every sense of natural justice
31 Mar 2010
This week’s clarification over the interim levy offers even more reasons to get angry.
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FSCS adds Lehman structured product claims to adviser Keydata levy
29 Mar 2010
Aifa says it will now explore other avenues to overturn the decision as advisers hit with £80m FSCS levy.
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FSCS clarifies no deadline for SLS claims after blunder
23 Mar 2010
FSCS confirms no time-limit applies for Keydata Category one claims after sending a letter stating forms had to be received by May 7.
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Gang jailed for £8m mortgage fraud
1 Mar 2010
Criminals bombarded banks with fraudulent mortgage applications.
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Gartmore suspends fund manager Guillaume Rambourg
30 Mar 2010
Gartmore has suspended fund manager Guillaume Rambourg pending the outcome of an internal probe regarding breaches in directing trades.
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Gilliat Financial Solutions - Captured Growth (UK Equities) - February 2010
8 Mar 2010
Gilliat Financial Solutions - Captured Growth (UK Equities) - February 2010
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Gilliat locks in growth
11 Mar 2010
Gilliat Financial Solutions has created a FTSE 100 linked structured product that provides growth of up to 61.5 per cent through a lock-in feature over a term of five years and three weeks.
-
Govt borrowing to fall below £178bn forecast
19 Mar 2010
Full-year Government borrowing figures are expected to come below Alistair Darling’s forecast of £178bn for the year.
-
Govt expands Post Office mortgage and savings offering
29 Mar 2010
Government injects £180m into Post Office financial services, as it aims to double its mortgage book in 2010/11.
-
Govt hints at ‘death tax’ for LTC funding
11 Mar 2010
LTC white paper may include a 10% levy on estates to fund care.
-
Govt needs £20bn to plug hole, says PwC
9 Mar 2010
PwC says sharp cuts have to be announced sooner to appease markets.
-
Govt says care specialists must help re-engineer LTC system
2 Mar 2010
Pensions minister Angela Eagle says politicians and elderly care specialists must work together.
-
Govt seeks winding up of property firm in the public interest
4 Mar 2010
The Secretary of State for Business, Innovation & Skills has presented a petition in the High Court to wind up European Property Management Ltd in the public interest.
-
Govt sets up commission to tackle care funding
30 Mar 2010
National Care Service Commission will advise ministers on how to fund a National Care Service after no political consensus was reached.
-
Govt trebles cost of pension tax changes
25 Mar 2010
The Government now estimates the one-off costs to total £900m compared to the £305m estimated in December’s pre-Budget report.
-
Greece prepares bond issue
29 Mar 2010
Greece mulling £4.5bn bond issue.
-
Guernsey Qrops providers to establish code of conduct
18 Mar 2010
Guernsey Qrops to publish code of conduct to raise standards on the island.
-
Hargreave Hale - Aim VCT 1 & VCT 2 Top-Ups
29 Mar 2010
Hargreave Hale - Aim VCT 1 & VCT 2 Top-Ups
-
Hawksmoor advances Vanbrugh with frontier fund
29 Mar 2010
Hawksmoor Investment Management is holding the Advance frontier emerging markets fund in its cautiously managed Vanbrugh fund of funds.
-
Health Insurance Counter Fraud Group to launch fraud qualification
30 Mar 2010
The news comes after the HICFG extends its membership to include cash plan providers.
-
Henderson confirms rebrand of New Star funds
12 Mar 2010
Henderson has finally confirmed that it is to drop the New Star name from its branding.
-
Henderson posts £15.5m pre-tax profits
29 Mar 2010
Dividend remains at 6.1p as firm extends policy of bonus deferrals to three years.
-
HML to axe over 100 jobs
30 Mar 2010
The third party servicer will decide which roles will go in April.
-
HMRC to publish names of tax cheats
3 Mar 2010
Taxpayers who deliberately evade tax will face being named and shamed, under new rules put in place today.
-
Hopes rise on FSCS Keydata levy
3 Mar 2010
Clarification by the Financial Services Compensation Scheme offers advisers glimmer of hope over £43m levy.
-
Hornbuckle's Stewart takes on sales director role
2 Mar 2010
Marketing director Mary Stewart has taken on the additional role of sales director at the Sipp provider.
-
House prices fell 1.5 per cent in February, says Halifax
4 Mar 2010
House prices fell for the first time since June 2009 after seven consecutive monthly increases.
-
House prices up 0.7 per cent in March
30 Mar 2010
Nationwide survey finds house prices increased 9 per cent since March 2009.
-
How Lehman Brothers hid its problems from the world
16 Mar 2010
Lee Jones reports on how investment bank employed accounting “gimmicks” to hide its true financial state.
-
HSBC Exchange Traded Funds – MSCI Japan ETF
25 Mar 2010
HSBC Exchange Traded Funds – MSCI Japan ETF
-
HSBC launches 1.99% mortgage
11 Mar 2010
HSBC is launching a two-year discount rate mortgage at 1.99 per cent
-
Iceland heading for referendum on repaying UK
5 Mar 2010
Iceland has said it will put plans to repay £3.4bn of debts for its banking collapse to a referendum vote.
-
Iceland voters reject Icesave deal
8 Mar 2010
93 per cent of Icelanders vote no to deal to repay UK and Netherlands depositors.
-
IFA network launches new website
24 Mar 2010
IFA network Financial Advisor has launched a new website designed to offer unbiased reviews and information on the financial advisers in the UK.
-
IFA workshops will offer an introduction to life planning
18 Mar 2010
IFA Life, Financial Weeks and Russell Investments have teamed up to offer a series of five introduction to life planning workshops to IFAs around the UK.
-
IFG completes £35m James Hay buy-out
10 Mar 2010
Firm announces that acquisition of James Hay from Santander has completed.
-
IFP says FSA has damaged consumer trust in financial services
19 Mar 2010
The Institute of Financial Planning says continuous regulatory changes and criticisms of financial services have damaged consumer trust.
-
IMA set to admit offshore funds to sectors
23 Mar 2010
The Investment Management Association has announced that it is to include a number of offshore funds within its sector classifications from April 1, 2010.
-
Income protection must be the priority product
16 Mar 2010
Canada Life’s Paul Avis says people should forget about pensions, mortgages and investments until they have protected the income that funds them.
-
Inflation falls to 3% in February
23 Mar 2010
Annual inflation on the Consumer Prices Index has fellen to 3 per cent in February.
-
Innovation an advantage for MGM
18 Mar 2010
MGM Advantage - Flexible Income Annuity
-
Insight to close UK small cap and evergreen funds
5 Mar 2010
Insight Investment is to close its UK small cap and evergreen funds after a number of principal investors chose to redeem their holdings.
-
Insynergy brings China into the Dragon's Den
1 Mar 2010
Insynergy, launched by Dragon’s Den entrepreneur James Caan and former Skandia director Spike Hughes, has teamed up with hedge fund firm GAM to create a Ucits III compliant China fund.
-
Intrinsic reveals new chief executive
19 Mar 2010
Intrinsic Financial Services has promoted Richard Freeman to the position of chief executive.
-
Invesco mulls Asian equity launches
8 Mar 2010
Invesco Perpetual is considering adding two new products to its Asian equities fund range.
-
Invesco shelves split cap launch
1 Mar 2010
Invesco Perpetual has shelved plans to launch the dual return split capital investment trust owing to a lack of demand.
-
Invest & Give appoints Angus Duncan as head of distribution
29 Mar 2010
Angus Duncan, the former head of distribution at Smith & Williamson, has been appointed as head of distribution at Invest & Give, the investment fund which supports the Princes Trust.
-
Investec buys up rest of Rensburg Sheppards
30 Mar 2010
Investec buys up remaining 53 per cent share in wealth manager for around £412m.
-
Investec Structured Products/Calculus Capital
22 Mar 2010
Calculus VCT
-
Investment banker and wife charged with insider dealing
15 Mar 2010
Couple are charged as third suspect is arrested overseas following warrant requested by the FSA.
-
IoD calls for public sector reform
19 Mar 2010
The IoD says the public sector wastes at least £25bn a year through massive duplication of services.
-
It’s Un-Belize-able!
24 Mar 2010
Labour MPs really enjoyed watching the Tory front bench squirm when the Chancellor announced that HM Treasury had signed up a tax deal with Belize – the political target being Tory vice chairman Lord Ashcroft.
-
JOHCM names global fund managers
1 Mar 2010
JO Hambro Capital Management has appointed Emery Brewer and Ivo St. Kovachev to manage its impending JOHCM global emerging markets fund.
-
JPM builds Bric with Brazil trust
25 Mar 2010
JPMorgan has completed its range of Bric investment trusts with the addition of its Brazil investment trust.
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JPMorgan Asset Management - Brazil Investment Trust
26 Mar 2010
JPMorgan Asset Management - Brazil Investment Trust
-
JPMorgan to launch Brazilian investment trust
1 Mar 2010
JPMorgan Asset Management plans to launch an investment trust investing solely in Brazil, with a target size of £50m.
-
Jubilee Financial Products - Early Redemption Plan Issue Seven
15 Mar 2010
Jubilee Financial Products - Early Redemption Plan Issue Seven
-
Jupiter looks at potential flotation
5 Mar 2010
Jupiter Asset Management has sought an amendment to its £375m loan documents, paving the way for a possible initial public offering.
-
Jupiter poaches Investec’s Tevenan for new sales role
2 Mar 2010
Jupiter Asset Management has hired Investec’s John Tevenan as sales director for global financial institutions.
-
Kerrie Kelly to open Protection Review dinner
30 Mar 2010
The Association of British Insurers’ director general Kerrie Kelly is to open this year’s Protection Review dinner.
-
L&G adds to absolute crowd
12 Mar 2010
Legal & General - UK Absolute Return Fund
-
L&G offers pooling facility to group clients
22 Mar 2010
Legal & General has joined All Net to offer quotes on group risk products to international clients on a pooled basis.
-
L&G pays over 93% of CI claims
11 Mar 2010
Legal & General paid 93.6 per cent of all critical illness claims in 2009, while Aegon paid 88 per cent.
-
L&G reports £552m profit and boosts dividend
23 Mar 2010
The firm’s EEV profits before tax jumped to £552m over 2009 from a loss of £1.38bn the previous year.
-
L&G takes European approach to absolute return
16 Mar 2010
The European absolute return fund is one of two absolute return funds recently introduced by Legal & General.
-
Labour win will add £65 to the cost of mortgage, says economist
5 Mar 2010
A hung Parliament or Labour win at the general election could add £65 to the cost of the average mortgage, a Citigroup economist has claimed.
-
Lancashire adviser jailed for five years for defrauding clients
29 Mar 2010
A Lancashire based financial adviser has been jailed for five years after being convicted of defrauding clients out of more than £600,000.
-
Lang and Pattisson set for boutique launch
8 Mar 2010
Former Liontrust star managers Jeremy Lang and William Pattisson are to launch their own asset management boutique this autumn.
-
LaSalle Investment Management appoints European MD
3 Mar 2010
LaSalle Investment Management has appointed Susan Lloyd-Hurwitz to the new role of managing director, Europe.
-
Legal & General - FTSE Early Bonus Plan 3
12 Mar 2010
Legal & General - FTSE Early Bonus Plan 3
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Legal & General - FTSE Growth Plan 3
25 Mar 2010
Legal & General - FTSE Growth Plan 3
-
Lehman bosses criticised for crash
12 Mar 2010
Report to NY bankruptcy court details ’misleading picture’ chiefs painted of ailing firm before its demise.
-
Lehman creditors to be put into same payment pool
16 Mar 2010
Investment firm may be restructured as asset manager.
-
Lending rises 6% in February, say CML
18 Mar 2010
Gross mortgage lending increased to £9.2bn in February
-
Lib Dems call for cross-party Council of Financial Stability
22 Mar 2010
Liberal Democrat leader Nick Clegg today called for cross-party agreement on the timetable and scale of deficit reduction.
-
Lib Dems say Tory social care plans are "unaffordable"
9 Mar 2010
The Liberal Democrats slam Conservative plans for residential social care at a cost of £8,000 to pensioners.
-
LibDems warn against forcing through spending cuts too soon
15 Mar 2010
Party proposes scrapping higher-rate pension tax relief and equalising capital gains tax with income tax.
-
Lifemark declares bonds in default
3 Mar 2010
Lifemark bond income payments frozen for 23,000 Keydata planholders.
-
Lighthouse expects £3.18m worth of complaints
22 Mar 2010
Lighthouse makes provisions for £3.18m worth of complaints for 2009, with the majority covered by PI insurance and advisers.
-
Lighthouse posts small profit and reveals “very few” acquisition opportunities
22 Mar 2010
Group has £13.4m in the bank but says very few possible acquisitions have been acceptable from a risk or valuation viewpoint.
-
LighthouseTemple appointed financial adviser to Royal Mint
3 Mar 2010
Firm will advise employees in relation to their deferred benefit pension transfer options under their new final salary scheme.
-
Lloyds offers overpayment option to variable rate borrowers
15 Mar 2010
Brokers welcome new flexibility which will be in place for a year.
-
Lloyds quashes talk of ousting chief
30 Mar 2010
Eric Daniels to stay on in job for at least another year, reports.
-
Lloyds set to sell St James’s Place stake
22 Mar 2010
Lloyds Banking Group is looking to offload some or all of its 60 per cent stake in St James’s Place this week, according to a report in the Independent on Sunday.
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London & Capital Asset Management - Managed Portfolios
8 Mar 2010
London & Capital Asset Management - Managed Portfolios
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London & Capital unveils 10 managed portfolios
8 Mar 2010
Independent wealth manager London & Capital has launched 10-risk graded managed portfolios to cater for the full range of client risk profiles.
-
London & Country launches one minute life insurance check
4 Mar 2010
The new tool will help customers determine if they are paying too much for their life insurance.
-
Lord Lipsey outlines principles to tackle social care reform
9 Mar 2010
Labour peer Lord Lipsey has drafted a paper outlining steps government needs to take to help tackle social care reform.
-
Lord Myners' press spokesman joins RBS
5 Mar 2010
City Minister Lord Myners’ Treasury press spokesman is joining Royal Bank of Scotland as head of group media.
-
Lowes Wealth Management launches distribution company
10 Mar 2010
Lowes Wealth Management launches new distribution company to promote fund range.
-
Luxembourg Court grants liquidation of SLS and LSC
26 Mar 2010
SLS Capital and LSC to be liquidated - liquidator says no assets appear to remain.
-
LV= appoints strategy director for life and pensions
25 Mar 2010
Myles Rix joins the provider from Aviva Health, where he was finance and commercial director.
-
LV= cuts CI rates
2 Mar 2010
The protection provider says it is slashing rates across 82.5 per cent of its CI range, with reductions ranging from 4 per cent to 31 per cent.
-
LV= goes for halfway house Usp
11 Mar 2010
LV= Protected Retirement Plan
-
LV= Protected Retirement Plan
5 Mar 2010
LV= Protected Retirement Plan
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LV= walks tightrope between annuity and USP
19 Mar 2010
LV=s protected retirement plan is established under unsecured personal pension rules, but income is not affected by stockmarket fluctuations because it is not investment linked. Neither does the plan tie policyholders to a set income for life as a lifetime annuity would.
-
M&G's Jane favours outcome-based definition of cautious fund
11 Mar 2010
Cautious funds should be defined in terms of the outcome for investors rather than IMA sector limits and risk profile, according to M&G Investments head of multi-asset David Jane.
-
Macquarie adds capital gains tool to platform
10 Mar 2010
Macquarie has added a capital gains and losses calculation tool to its wrap platform.
-
Macquarie appoints chief operating officer
8 Mar 2010
Macquarie Banking and Financial Services has appointed Neil Roderick as its group chief operating officer.
-
Macquarie appoints Michael Hawker to board
25 Mar 2010
Earlier this year Aviva appointed Michael Hawker as an independent non-executive director.
-
Manchester BS loses £2.5m in Network Data collapse
30 Mar 2010
The society lost £2.5 in Network Data shares in a deal made with the network in 2008
-
Mandelson attacks Obama’s bank plans
4 Mar 2010
Business secretary says Britain must be at the centre of any regulatory plans.
-
Mandelson wants more long-termism from fund managers
2 Mar 2010
Business secretary calls for a shake-up of take-over rules and a greater emphasis on long-termism from fund managers.
-
Mandelson warns of further tax hikes next year
19 Mar 2010
Business secretary Lord Mandelson has warned that further tax increases may have to be introduced next year if Labour regains power.
-
Martin Currie opens up access to China team
12 Mar 2010
Martin Currie has unveiled a China fund that will give UK retail investors access to the firm’s China team for the first time.
-
Martin Reynolds to leave PMS
22 Mar 2010
Sesame MD John Cupis to take on responsibilites.
-
Mazars chief Paul Willans resigns
5 Mar 2010
Willans intends to pursue “new opportunities”, which he indicates will be within the financial services sector.
-
Merchant Capital - Kick-Out Plan March 2010
30 Mar 2010
Merchant Capital - Kick-Out Plan March 2010
-
Meteor Asset Management - Protected FTSE Plan 2
12 Mar 2010
Meteor Asset Management - Protected FTSE Plan 2
-
Meteor withdraws from Keydata bid
15 Mar 2010
Meteor pulls out of the race for Keydata investment book, Money Marketing understands.
-
Metlife acquires AIG's Alico in £10bn deal
8 Mar 2010
Metlife is set to acquire AIG subsidiary Alico for over £10bn.
-
Metlife launches guarantee for Sipps
5 Mar 2010
Metlife is launching a unit-linked guarantee for Sipp and Ssas customers.
-
Metro Bank gets FSA licence
5 Mar 2010
US financial entrepreneur set to open new bank on the high street.
-
Metro Bank joins CML
30 Mar 2010
The CML now has 110 members and 76 associates.
-
MGM Advantage - Flexible Income Annuity
11 Mar 2010
MGM Advantage - Flexible Income Annuity
-
MGM annuity goes for flexible income
30 Mar 2010
Retirement income specialist MGM Advantage has designed its flexible income annuity to provide a greater income than policyholders would receive from a fixed-level conventional annuity.
-
Midas Capital sells subsidiaries to MitonOptimal
31 Mar 2010
Midas Capital offloads MCI and MCAM to refocus on UK business.
-
MMTV Budget special: Govt throw away their pension principles
25 Mar 2010
Money Marketing’s expert panel finds little to praise in Alistair Darling’s Budget.
-
MoJ confirms Grass Roots investigation
22 Mar 2010
Claims management firm shares the same offices as suspended Cartel Client Review
-
MoJ suspends claim chasers Cartel Client Review
18 Mar 2010
Suspension comes after Cartel’s solicitor firm was previously shut down by the Solicitors Regulation Authority.
-
Money Marketing hosts retirement planning roadshows
5 Mar 2010
Money Marketing is hosting a series of retirement planning roadshows across the country, bringing together some of the top retirement providers, distributors and commentators.
-
Moneygate plans expansion after capital boost
15 Mar 2010
Moneygate unveils expansion plan after “significant” capital boost from MGT Capital Investments.
-
Mortgage approvals for purchase down 49% in January
12 Mar 2010
CML says ending of the stamp duty holiday in December distorted figures.
-
Mortgage approvals lowest since May 2009
30 Mar 2010
The number of mortgage approvals in February were lower than the previous six-month average.
-
Moss takes on interim MD role at Friends
3 Mar 2010
Friends Provident has appointed Nathan Moss as UK managing director on an interim basis to replace Simon Clamp due to serious illness.
-
MPC member admits “seriously underestimating” the crisis
9 Mar 2010
Departing MPC member Kate Barker admits Bank should have taken longer-term view of crisis.
-
MPC minutes reveal split on inflation concerns
17 Mar 2010
Minutes from the MPC’s meeting earlier this month show that members drew different conclusions about inflation risks in the UK.
-
MPs blast social care system
12 Mar 2010
The health committee’s latest report says the social care system in England is underfunded, discriminatory and severely rationed.
-
MPs call on Treasury to reconsider UKFI relationship
9 Mar 2010
Treasury select committee calls on Treasury to consider whether its relationship with UK Financial Investments Ltd remains suitable.
-
MPs slam Govt's too big to fail mentality
29 Mar 2010
Treasury select committee chairman John McFall says financial institutions need to bear the consequences of their own actions.
-
Myners: banks must start behaving like they have something to lose
9 Mar 2010
City minister says recovery will only happen after the state safety net is taken away.
-
National Fraud Authority warns against rise in mortgage fraud
16 Mar 2010
New report calls for joint public-private effort to combat new mortgage fraud threats.
-
Nationwide for Intermediaries to introduce new lending assessments
3 Mar 2010
Nationwide for Intermediaries has altered the way it calculates lending assessments by replacing the current income multiplier element of its assessment with a new calculation it says is more tailored to a client’s individual circumstances.
-
NatWest Intermediary Solutions - Buy-To-Let Two-Year Tracker
5 Mar 2010
NatWest Intermediary Solutions - Buy-To-Let Two-Year Tracker
-
NatWest Intermediary Solutions - 18-Month Tracker
26 Mar 2010
NatWest Intermediary Solutions - 18-Month Tracker
-
Nest still cheaper than workplace schemes, despite 2 per cent contribution charge - Pada
16 Mar 2010
The National Employment Savings Trust will be cheaper for members than large occupational schemes despite carrying a 2 per cent up front charge, according to figures from the Personal Accounts Delivery Authority.
-
Nest to charge AMC plus 2% to recoup costs
16 Mar 2010
The Nest scheme is aiming for a 0.3 per cent AMC but will charge 2 per cent on all contributions until it recoups its set up costs.
-
Nest unveils trustee board and appoints Jeannie Drake as deputy chair
25 Mar 2010
Nest has also unveiled its trustee board.
-
New ABI chief calls for FSA to be proportionate
18 Mar 2010
Kerrie Kelly has appealed to the FSA to be more open-minded and balanced in its judgements on likely consumer detriment.
-
New business growth for Health Shield in 2009
12 Mar 2010
Health Shield increased the number of new employees brought into its corporate cash plans by 63 per cent in 2009, covering 40,300 new staff, compared to 24,600 in 2008.
-
No ordinary VCT from Downing and NVM
3 Mar 2010
Downing Corporate Finance and NVM Private Equity are raising up to £13.5m in ordinary shares for the Northern 3 venture capital trust.
-
Northern Rock "bad bank" to integrate with B&B
24 Mar 2010
The board of Northern Rock Asset Management – the so-called “bad bank” – has recommended an integration with Bradford & Bingley.
-
Northern Rock appoints new chief financial officer
16 Mar 2010
Former Lloyds financial director Jim McConville joins next month.
-
Northern Rock’s bad bank makes £257m loss
10 Mar 2010
Northern Rock Asset Management reduces losses after more than £1bn of bad debt impairments and Government clawbacks.
-
Norwich & Peterborough profits fall 78%
15 Mar 2010
The building society’s profits fell from £5.9m in 2008 to £1.3m in 2009
-
Novia's GIA available via Friends' offshore bond
12 Mar 2010
Novia’s gross general investment account is now accessible within Friends Provident International’s offshore bond.
-
Nucleus signs Glasgow-based IFA
8 Mar 2010
Glasgow-based IFA Strategic Asset Managers has joined Nucleus.
-
OBSR removes ratings of three funds
29 Mar 2010
Old Broad Street Research has withdrawn the ratings of three funds: Artemis international global equity, Artemis international Pan European equity, and GAM Star international pan European equity.
-
Octopus hires head of relationship management and partnerships
24 Mar 2010
Octopus announces new appointment.
-
OFT fines RBS £28.5m for breaching competition law
30 Mar 2010
RBS fined for disclosing pricing information to Barclays bank.
-
OFT unveils new banking commitments
17 Mar 2010
The Office of Fair Trading has announced new banking industry commitments on unarranged overdrafts.
-
Old Mutual profits down to £247m
11 Mar 2010
South African firm says it will be “ruthless” with poor performing parts of business.
-
Old Mutual to launch absolute return fund
4 Mar 2010
Old Mutual Asset Managers has announced plans to launch a UK absolute return fund for Luke Kerr in May.
-
Omam postpones launch as Kerr reduces work commitments
24 Mar 2010
Old Mutual Asset Managers has postponed the launch of its UK specialist absolute return following the announcement that Luke Kerr is reducing his work commitments for a few months to focus on his health.
-
Osborne renews call for early deficit reduction
15 Mar 2010
Shadow Chancellor George Osborne and Chancellor Alistair Darling battle it out over how to tackle the deficit.
-
Partnership model suggested to solve LTC dilemma
16 Mar 2010
The King’s Fund says a revised version of the partnership model is the fairest way of funding social care in the future.
-
Paul Armson leaves Prestwood
19 Mar 2010
Armson has stepped down to pursue other business interests.
-
Paul Armson sets up lifestyle planning support firm
26 Mar 2010
Former Prestwood head of marketing Paul Armson has set up a support panel for lifestyle financial planners
-
People on the move: Distribution
18 Mar 2010
Towergate Financial has appointed Steve Petrie as a director in its private client business. He was the owner of City IFA Alexander William.
-
People on the move: Life and pensions
18 Mar 2010
Aegon has appointed Adrian Grace as chief operating officer for life and pensions. Grace joined Aegon in January 2009 in the newly created executive role of group development director. He previously worked at HBOS and Barclays.
-
People on the move: Mortgages
18 Mar 2010
Checkmate Mortgages has rebranded to Portillion and appointed new directors. Former FSA director Ronnie Baird has joined as senior non-executive director and chairman of the audit committee. He was the FSA’s director of internal audit. Philip Dearing, previously chief executive officer at Market Harborough Building Society, has been appointed savings director, Gerald Gregory, previously a director of Britannia Building Society has been appointed ...
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Personal Touch appoints Doug Crawford as chief exec
26 Mar 2010
Personal Touch Financial Services has appointed Doug Crawford as chief executive officer.
-
Perspective acquires Chessman & Partners
25 Mar 2010
IFA consolidator Perspective Financial Group has made its second acquisition in 2010 after buying Chessman & Partners.
-
Perspective Financial Group launches corporate advice division
9 Mar 2010
IFA consolidation firm Perspective Financial Group has launched PFG Corporate Solutions to provide corporate financial advice.
-
Peter Jordan quits Skandia
11 Mar 2010
Skandia head of proposition marketing Peter Jordan has left the firm to pursue a career in teaching.
-
Phoenix purchases Mortgage Times assets
19 Mar 2010
Mortgage Times’ administrators reveal Phoenix has bought the rights to service orphan clients.
-
Pink Home Loans - Kensington 2 Year Fixed Rate
10 Mar 2010
Pink Home Loans - Kensington 2 Year Fixed Rate
-
Pink Home Loans - Kensington 2 Year Fixed Rate
9 Mar 2010
Pink Home Loans - Kensington 2 Year Fixed Rate
-
Pink Home Loans - Kensington 3 Year Fixed Rate
10 Mar 2010
Pink Home Loans - Kensington 3 Year Fixed Rate
-
Pink Home Loans - Kensington 3 Year Fixed Rate
11 Mar 2010
Pink Home Loans - Kensington 3 Year Fixed Rate
-
Platform to relocate 80 staff or offer them redundancy
25 Mar 2010
Platform has revealed it is relocating 80 mortgage and customer service staff from London to Leek and Stockport or offering them redundancy if they do not wish to move.
-
Pointon York scoping investors for £1.75m cash injection
22 Mar 2010
Sipp provider offering IFA clients opportunity to invest in the firm.
-
Ponzi scheme organiser Kevin Foster convicted of fraud
10 Mar 2010
Investment fraudster Kevin Foster has been remanded in custody after being convicted of defrauding investors of millions of pounds.
-
Pound plunges on hung Parliament fears
2 Mar 2010
The pound plunged to a ten-month low yesterday on fears that the UK is heading towards a hung Parliament at the general election.
-
Premier appoints Simon King
22 Mar 2010
Premier Asset Management has hired former Gartmore manager Simon King to run its UK thematic and smaller companies funds.
-
Pru agrees merger with AIA in £23.5bn deal
1 Mar 2010
Pru has agreed a merger with AIG’s Asian arm, but Resolution dismisses rumours it could swoop on Pru’s UK business.
-
Pru eyes Hong Kong rights issue
8 Mar 2010
Insurer to speed up Hong Kong flotation to aid £14bn rights issue.
-
Pru profits up £3.8bn on 2008
1 Mar 2010
The firm reports profits of £1.7bn for 2009, on an EEV basis.
-
Prudential - Dynamic Portfolios: Balanced Portfolio
3 Mar 2010
Prudential - Dynamic Portfolios: Balanced Portfolio
-
Prudential - Dynamic Portfolios: Cautious Growth Portfolio
3 Mar 2010
Prudential - Dynamic Portfolios: Cautious Growth Portfolio
-
Prudential - Dynamic Portfolios: Adventurous Portfolio
4 Mar 2010
Prudential - Dynamic Portfolios: Adventurous Portfolio
-
Prudential - Dynamic Portfolios: Cautious Portfolio
2 Mar 2010
Prudential - Dynamic Portfolios: Cautious Portfolio
-
Prudential - Dynamic Portfolios: Defensive Portfolio
2 Mar 2010
Prudential - Dynamic Portfolios: Defensive Portfolio
-
Prudential cash call risk spread across 30 banks
4 Mar 2010
Credit Suisse, HSBC and JP Morgan Cazenove spread underwriting risk of £14bn rights issue between 30 banks.
-
Prudential chief stresses commitment to UK
1 Mar 2010
Tidjane Thiam dispels rumours it will look to sell of its UK arm after merging with AIG’s Asian operation.
-
Prudential share price slumps 20%
2 Mar 2010
Fitch Ratings puts Pru on negative watch due to concerns over its plan to acquire AIG’s Asian arm AIA.
-
Pru's Thiam turns down SocGen role amid shareholder backlash
18 Mar 2010
Prudential chief Tidjane Thiam will not take up a non-executive role at Société Générale after claims he should be concentrating on his day job.
-
Rambourg investigated over broker favouritism - reports
31 Mar 2010
Gartmore is probing star manager Guillaume Rambourg for favouring certain brokers when carrying out dealings, reports suggest.
-
RBS deputy Pell to pocket bigger pension than Sir Fred
19 Mar 2010
Outgoing Gordon Pell will receive close to £600,000 a year while disgraced former boss Goodwin will get less than £350,000.
-
RBS plans debt buy-back
16 Mar 2010
The bailed-out bank is planning a £10bn restructuring in a bid to boost capital and confidence with bond holders.
-
RDR: Adviser fund charges must be in line with competing products
26 Mar 2010
The FSA outlines stricter rules for charging for advice relating to distributor influenced funds.
-
RDR: Commission to stay for Cobs/Icobs protection sales
26 Mar 2010
FSA allows commission to stay for all protection sales, and it will not read-across adviser labelling.
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RDR: Estimated compliance costs skyrocket
26 Mar 2010
One-off costs rise from £430m to between £605m and £750m and ongoing costs jump from £40m to between £170m to £205m.
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RDR: FSA confirms restriction on independent tag
26 Mar 2010
Firms that offer a single product that invests in a number of underlying investments will not be able to call themselves independent.
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RDR: FSA investigates platform incentives breach
26 Mar 2010
The FSA says it is currently looking into a potential breach by a firm of its incentives rules.
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RDR: FSA looks to make re-reg compulsory by RDR deadline
26 Mar 2010
FSA looks to make re-reg compulsory by December 31, 2012 due to the potential for customer detriment.
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RDR: FSA pushes platforms to unbundle charges
26 Mar 2010
The FSA has proposed to ban any payments from providers to platforms and stop rebates to consumers in a raft of measures seeking to unbundle platform charges.
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RDR: FSA to crack down on platform advice
26 Mar 2010
The FSA has pledged to take tough action against advisers who inadequately assess the suitability of platforms for their clients after a review uncovered poor practice.
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RDR: FSA undecided on simplified advice qualifications
26 Mar 2010
Regulator remains concerned about allowing lower qualifications.
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RDR: FSA warns advisers on single platform use
26 Mar 2010
Regulator suggests it will not be content with advisers using just one platform.
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RDR: No mandatory oral disclosure script for restricted advisers
26 Mar 2010
Restricted advisers will not be forced to use a mandatory script in their oral disclosure of their services to clients.
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RDR: Protection proposals could cost insurers £20m
26 Mar 2010
As a result of the FSA’s RDR proposals, compliance costs for providers will be between £10 and £20m.
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RDR: Providers will not monitor adviser charging
26 Mar 2010
FSA drops plans to make product providers police adviser charges.
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Reforming social care the Conservative way
2 Mar 2010
Shadow health minister Stephen O’Brien explains why the Conservatives can deliver real change to the social care system.
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Regulators and ombudsman propose new protection committee
11 Mar 2010
The Financial Services Authority, the Office of Fair Trading and the Financial Ombudsman Service have proposed the creation of a new consumer protection committee.
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Rejoice in the RDR
18 Mar 2010
Martin O’Connell
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Remortgage market showing signs of recovery
10 Mar 2010
John Charcol index shows remortgages increasing market share.
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Repossessions at lowest level since 2008
16 Mar 2010
The FSA’s latest Statistics on Mortgage Lending show repossessions down 15 per cent in the last quarter of 2009.
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Resolution falls out of FTSE 100
10 Mar 2010
Clive Cowdery’s consolidation vehicle is now the 123rd biggest company on the London market.
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Ricky Okey to leave Santander
19 Mar 2010
Abbey for Intermediaries managing director Ricky Okey is to leave Santander and will be replaced to Alan Matthewson.
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Rowanmoor welcomes new French property rules
22 Mar 2010
French pass new law recognising trusts which makes it easier for UK pension schemes to invest in French property.
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Royal Commission for elderly care proposals
30 Mar 2010
Commission to consider when and how fee should be applied to fund social care.
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Royal London 360° appoints marketing manager
18 Mar 2010
Andrew Dudgeon has been appointed product and investment marketing manager.
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Royal London posts £404m profit
31 Mar 2010
Royal London allocates £25m mutual dividend for with-profits members.
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Russell Investments - IM Russell ICVC International Growth Assets Fund
1 Mar 2010
Russell Investments - IM Russell ICVC International Growth Assets Fund
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Russell Investments - IM Russell ICVC Real Assets Fund
1 Mar 2010
Russell Investments - IM Russell ICVC Real Assets Fund
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Santander leads pack for £4bn RBS branches
8 Mar 2010
Spanish giants looks to enlarge its 1,300 UK branch network.
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Schroders reports record inflows
4 Mar 2010
Schroders revealed its annual results today, showing the group took a record £15 billion of inflows in the year to December 31, 2009.
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Scot Wids Bank reports profit increase
15 Mar 2010
Scottish Widows Bank has reported a pre-tax profit of £38.2m for 2009, but a £100m drop in its mortgage book.
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Scottish MPs urge OFT to investigate banking competition
19 Mar 2010
A committee of Scottish MPs calls on OFT to look at competition for mortgages, current accounts and business lending.
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Sesame Bankhall Group and Pantheon Financial profits fall 60%
24 Mar 2010
Resolution’s UK distribution businesses see profits of £4m, down from £10m in 2008.
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Sesame to launch IFA school
3 Mar 2010
Sesame is to launch an IFA school aimed at getting “new blood” into the industry.
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Seventh arrest made in insider dealing investigation
24 Mar 2010
Joint FSA and Serious Organised Crime Agency insider dealing investigation results in a seventh arrest.
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Shaun Sandiford joins Axa Elevate
17 Mar 2010
Former Ascentric head of sales joins platform as distribution director.
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Simply Biz academy pilots discounted J0 training
9 Mar 2010
Simply Biz’s New Model Business Academy offers cut price JO training courses.
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Sipp question time
8 Mar 2010
Corporate Adviser editor John Greenwood and Legal & General head of pension development Anne Dunlop answer adviser Sipp queries.
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Six arrested in insider dealing probe
23 Mar 2010
Six men have been arrested in a joint FSA and Serious Organised Crime Agency investigation into insider dealing.
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Skandia adds Elevate to Platformwatch tool
18 Mar 2010
The tool will now compare platform costs on Elevate, Skandia, Transact, Cofunds, Fundsnetwork, Nucleus and Standard Life Wrap.
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Skandia and Scot Prov pay 91% of CI claims
10 Mar 2010
Skandia and Scottish Provident both paid out 91 per cent of all critical illness claims last year.
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Skills Council licence approved
26 Mar 2010
The Financial Services Skills Council has been re-licensed by the UK Commission for Employment and Skills.
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SLI to boost alternatives with acquisition
23 Mar 2010
Standard Life Investments to take 75.1 per cent stake in fund of hedge funds manager Aida Capital.
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Social services
18 Mar 2010
Unbiased.co.uk chief executive Karen Barrett explains why an online marketing plan is key to generating new business and keeping current clients
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Societies confirm Stroud & Swindon Coventry merger talks
8 Mar 2010
Both societies confirm talks are taking place regarding a possible merger.
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SPC targets corporate IFAs with membership drive
11 Mar 2010
The Society of Pensions Consultants is launching a membership campaign aimed at boosting the numbers of corporate IFAs in the organisation.
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Speed up UK austerity plans, says CBI
8 Mar 2010
Industry body says Govt needs to speed up spending plans by two years.
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Spiers steps back again as Bestinvest appoints new chairman and chief executive
12 Mar 2010
John Spiers is to step down from the helm of Bestinvest for the second time after the group appointed a new chairman and chief executive.
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Sprung could face expulsion from PFS
10 Mar 2010
Park Row chief executive Peter Sprung could be expelled as a member of the Personal Finance Society and the Institute of Financial Planning after being fined £49,000 by the FSA.
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Staff contributions rise more than Govt payments for public sector pensions
12 Mar 2010
The National Audit Office says employees contributed 56 per cent more last year than in 1999-2000 while Government payments to pensioners only increased 38 per cent.
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Standard Life 2009 profits up 400%
10 Mar 2010
Insurer reveals profits of £474m up from losses of £158m in 2008.
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Standard Life acquires threesixty
15 Mar 2010
The insurer purchases the support services business from its former partners.
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Standard Life ponders sale of healthcare arm
9 Mar 2010
The group is considering the sale of its health insurance business, said to be worth around £200m.
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State-backed banks not passing competitive rates to taxpayer
9 Mar 2010
Government supported banks charging higher than average mortgage fees, according to Moneyfacts research.
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Stellar stays true to spirit of EIS
15 Mar 2010
Stellar Asset Management - Stellar Technology EIS Fund
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Stonehaven suspends equity release lending
9 Mar 2010
Stonehaven has become the latest provider to suspend equity release lending.
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Strategic bonds gain traction, says Cofunds
8 Mar 2010
Strategic bond sector ranked third best selling sector on Cofunds last month.
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Strengthening sterling hits F&C's AUM
10 Mar 2010
F&C Asset Management has reported a £800m fall in assets under management for the year ended December 31, 2009.
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Stroud & Swindon announces Coventry merger
23 Mar 2010
Stroud’s board announce merger which will take effect from September 1.
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Stroud & Swindon losses increase 71% to £5.8m
25 Mar 2010
The building society posted pre-tax loss of £5.8m, compared to pre-tax loss of £3.4m in 2008
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Stroud & Swindon temporarily pulls higher LTV products
19 Mar 2010
Lender pulls ITL Mortgages high LTV product range so as not to exceed business levels.
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Succession appoints Quilter to manage discretionary portfolios
16 Mar 2010
Quilter and Vestra Wealth to offer five risk-rated model investment portfolios.
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Sun Life rebrands Lincoln's products
1 Mar 2010
Lincoln National’s UK range has been rebranded Sun Life Financial of Canada after last year’s acquisition.
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Swip takes on DFM
3 Mar 2010
Scottish Widows Investment Partnership - Swip Multi-Manager Optimal Multi-Asset Fund
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Swiss Re appoints head of client markets for UK/Ireland
30 Mar 2010
Russell Higginbotham will take up the post in May when he returns from Swiss Re’s Australian operation.
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T Bailey to merge UK best ideas into growth fund
9 Mar 2010
T Bailey is to merge its £1.8m UK best ideas fund into its flagship £172m T Bailey growth fund.
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T. Bailey increases exposure to Japan
15 Mar 2010
Multi-manager ups Japan weighting in its growth fund and passive equivalent.
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Tata to sign Nest contract before general election
2 Mar 2010
Pada announces Tata as successful admin bidder and plans to sign contract early.
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Tenet appoints ex-Mortgage Next MD Gemma Harle
29 Mar 2010
Gemma Harle is appointed managing director of TenetLime.
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Tenet promotes Peter Charge to head of DA sales
18 Mar 2010
Peter Charge has been promoted to the role of head of sales for directly authorised firms at Tenet Group.
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The financial advisers who earn too much
2 Mar 2010
Justin Modray says the RDR will make little difference in the way most advisers are paid.
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This year's retirees £3.5bn worse off than last year
31 Mar 2010
This year’s retirees will be almost £3.5bn worse off than people who retired in 2009, according to Prudential.
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Threadneedle calls for absolute returns clarity
18 Mar 2010
Threadneedle has called for a better system of classification of absolute return funds due to the expansion of the sector and the divergence between different investment approaches.
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Time is right for Bolton China trust
31 Mar 2010
Fidelity - China Special Situations
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TMW launches guarantor mortgage range
9 Mar 2010
Borrowers can choose from a number of limited and full liability products.
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Tories "amazed" at speed of Nest contract deal
2 Mar 2010
Waterson says signing the administration contract before the general election will not inhibit a Tory review of the scheme.
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Tories pledge to reduce National Insurance rises for most people
29 Mar 2010
The Conservative Party would partially scrap the planned 1 per cent increase in most people’s National Insurance contributions due to come into effect next April.
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Tories vote down auto-enrolment in protest
4 Mar 2010
The Conservatives vote against auto-enrolment in protest at delays to implementation and news that Pada will sign the Nest admin contract before the general election.
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Tories would introduce unilateral bank levy
22 Mar 2010
Conservative leader says bank levy will happen whether or not other countries agree similar levies.
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Tory donor under fire for non-dom tax status
2 Mar 2010
Conservative deputy chairman and party donor Lord Ashcroft has come under fire for using non-domicile status to save himself millions of pounds in tax.
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Towergate Financial strengthens private client team
9 Mar 2010
Towergate Financial has appointed Steve Petrie as a director in its private client business.
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Transact reduces charges
1 Mar 2010
Transact is reducing the annual and transaction charges on its wrap.
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Treasury to review proposed changes to buy-to-let regulation
29 Mar 2010
The Treasury says it will reconsider some of the changes to buy-to-let regulation
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Turn for the better
18 Mar 2010
The economy is recovering after two brutal years
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Turner calls for greater powers to address asset bubble concerns
18 Mar 2010
FSA chairman suggests a number of tools to address role of credit in driving asset price cycles.
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Turner says narrow banking not enough
2 Mar 2010
FSA chairman argues against Bank governor King’s plans for safe narrow banking.
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Two GP Noble trustees charged in connection with £52m fraud
25 Mar 2010
Two former GP Noble trustees have today been charged with fraud and abuse of position in connection with the alleged theft of £52m of pension assets from nine occupational pension schemes.
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UK bonus supertax set to net £2.5bn
5 Mar 2010
The banker bonus supertax is set to pull in a total of £2.5bn for the Treasury, a survey by the Financial Times has found.
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UK signs tax information exchange agreement with Belize
25 Mar 2010
UK signs tax info exchange agreement with Belize.
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Virgin Money chief's pay nearly slashed in half
19 Mar 2010
Chief executive Jayne-Anne Gadhia’s total pay falls from £1m in 2008 to £609,000 in 2009
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Wesleyan Assurance outperforms with-profits rivals
15 Mar 2010
The Birmingham-based mutual has reported a 20.1 per cent gross return for 2009.
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What the Budget means for your clients
25 Mar 2010
Technical Connection director John Woolley rounds up the big Budget news for IFAs.
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Which? fails 90% of banks on advice
24 Mar 2010
Banks and building societies fail to give sound financial advice to mystery shoppers from Which?.
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Winterflood appeals against £4m FSA fine
10 Mar 2010
Winterflood Securities has challenged the FSA in the Court of Appeal over a £4m fine received from the regulator in 2008.
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Woolwich replaces telephone funds booking system
29 Mar 2010
Lender says new system is not a response to broker complaints about the old system.
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Wrap – a journey not a destination
1 Mar 2010
John Porteous says advisers must align themselves with their chosen platform.
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YFM Private Equity - British Smaller Companies VCT
19 Mar 2010
YFM Private Equity - British Smaller Companies VCT
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YFM tops up British smaller companies VCT
24 Mar 2010
YFM Private Equity is raising up to £1.99m for a top-up of its British smaller companies VCT.
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Zurich launches protection microsite
17 Mar 2010
The new site offers a suite of marketing tools and templates to help advisers kick-start an effective protection campaign.
