Money Marketing
2 February 2012
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A little patience
6 Feb 2012
When I entered the industry in the early 1980s, pretty much the only way of achieving a growing income was to use UK equity income funds. Cash and bonds provide income but are less able to combat the effects of inflation. On balance, UK equity income has provided exceptional returns for investors but it arguably led to a rather one-dimensional portfolio as diversifying into other areas such as Japan or Asia meant reducing the income potential. Retiring investors looking for income therefore ...
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ABI criticises PRA power to protect future policyholders
2 February 2012
The Association of British Insurers has criticised the Government’s decision for the Prudential Regulation Authority to protect future policyholders in its insurance objective.
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Advisers slam Webb over auto-enrol advice stance
2 Feb 2012
Advisers have hit out at pensions minister Steve Webb for saying it will be unnecessary for small firms to seek advice over auto-enrolment.
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Alan Lakey: The true cost of RDR 'savings'
3 Feb 2012
Alan Lakey says the RDR makes no financial sense.
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Align auto-enrolment trigger with NI, says Hargreaves Lansdown
2 February 2012
Hargreaves Lansdown is urging the Government to bring the upper earnings threshold for minimum automatic enrolment pension contributions into line with National Insurance.
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Alliance Trust mulls target return bond
3 Feb 2012
Alliance Trust is considering launching a target return bond fund and has dropped plans for a strategic bond fund.
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Ardevora adds cheap info tech stocks to global equity
3 Feb 2012
Ardevora partner Jeremy Lang has added 9 per cent in information technology stocks in the Ardevora global equity fund.
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At-retirement demand booms
2 February 2012
The demand for at-retirement advice outweighs the number of advisers providing it, according to Ernst & Young director Malcolm Kerr.
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Aviva renames multi-asset range and adds two funds
2 February 2012
Aviva Investors has bolstered its multi-asset range with two funds targeting defensive and moderately cautious investors.
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'Bank governance plans don't go far enough'
2 February 2012
The Government’s proposals to improve the governance of the Bank of England do not go far enough to address the committee’s concerns about its lack of accountability, according to Treasury select committee chairman Andrew Tyrie
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Bank of Ireland looks to sell more UK mortgage portfolios
2 Feb 2012
Bank of Ireland is looking to offload two of its UK mortgage portfolios worth nearly £2bn, Money Marketing understands.
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Black marketing
6 Feb 2012
These days IFAs talk about obtaining chartered status, the introduction of adviser charging and how they are ensuring the technology is right from wrap to suitability tools. These areas will continue to form IFA chatter in the run-up to the retail distribution review.
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BlackRock mulls strategic bond fund launch
2 Feb 2012
BlackRock is considering launching a strategic bond fund this year to help with investors’ search for income.
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Calculated risk
2 February 2012
Mike Morrison, head of pensions development at Axa Wealth, says it is vital that advisers help clients work out their attitude to risk if investors are to realise their long-term financial goals
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Call for RDR qualification clarity on EIS and ETFs
2 Feb 2012
Threesixty is calling for the FSA to clarify over which QCF level four qualifications they require.
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Cash on delivery
6 Feb 2012
The economic outlook means dividends are providing an even greater portion of total return on equities. Gregor Watt reports
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Chancellor can direct BoE in crises
2 February 2012
The Chancellor will have the power to direct the Bank of England during future financial crises, under new proposals.
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Committee to oversee UK and Euro communication
2 February 2012
A committee is likely to be set up to co-ordinate communication between UK regulators and European supervisory authorities.
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Concerns over 16% commission pension transfer scheme
2 Feb 2012
Advisers have urged caution over a scheme advertising 16 per cent commission rates on pension transfers for people aged 55 and under.
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Co-op gets social policy role for Nest
2 February 2012
Nest has awarded a responsible ownership contract to The Co-operative Asset Management.
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Coyle to head Aegon Retirement Choices sales
2 February 2012
Aegon UK has appointed Axa Wealth business development director Martin Coyle as head of platform sales.
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Defensive pays off for UK equity income
6 Feb 2012
James Smith looks at the UK equity income market, which remains a safety-first environment delivering sustainable dividends and long-term growth.
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Diamond says Barclays will boost wealth management
2 February 2012
Barclays chief executive Bob Diamond says the bank plans to grow its wealth management business during 2012.
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Direct platform for Stanley
2 February 2012
Charles Stanley is launching a direct-to-consumer platform and will partner with AllMyPlans as an aggregation service to include off-platform investments.
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Ellipse moves into absence management
2 February 2012
Munich Re subsidiary Ellipse has moved into the group income protection market with a product that includes an absence management service designed to reduce long-term claim costs.
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Enforcement plea rejected
2 February 2012
The Government has rejected the FSA’s calls to scrap the requirement for the Financial Conduct Authority to consult firms and individuals before publicising details of ongoing enforcement investigations.
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Europe split could see Mifid impact
2 February 2012
Zurich has warned that the UK’s strained relations with Europe could prevent it being granted an exemption from Mifid II, which would see the return of commission for restricted advisers.
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FCA's focus will be to check that markets 'function well'
2 February 2012
Changes to the Financial Conduct Authority’s strategic objective are planned to make its main focus is ensuring that financial markets “function well”.
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FE Adviser Fund Index
2 February 2012
The economic crisis in the Western world was spelled out by the International Monetary Fund last week.
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Fidelity Worldwide adds global dividend fund
2 February 2012
Fidelity Worldwide Investment is adding to its equity income range with a global dividend fund for manager Daniel Roberts.
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Firms will have duty of care to customers
2 Feb 2012
Financial services firms will have to provide an “appropriate” level of care to consumers as part of a strengthened consumer protection remit for the Financial Conduct Authority.
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FSA cap-ad plans could see wealth manager Sipp sell-off
2 Feb 2012
Wealth management firms could be forced to sell their Sipp operations if the FSA follows through with plans to increase capital adequacy requirements for providers.
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'FSA is still determined to bring in simplified advice'
2 February 2012
The FSA is still committed to producing a practical solution for simplified advice, according to Ernst & Young director Malcolm Kerr.
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Goldilocks and the forbears
3 Feb 2012
Paul Thomas reports that a combination of low interest rates and a change of attitude by lenders means borrowers are faring better than in previous recessions
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Government reveals new auto-enrol staging dates
2 February 2012
Delays to the introduction of auto-enrolment will see the scheme fully implemented three years later than originally planned.
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Government takes appeal to Supreme Court after solar feed-in tariff defeat
2 February 2012
The Government is to make a second appeal against a High Court ruling which found that its decision to lower solar feed-in tariff payments was illegal.
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Greenlight fined for market abuse
2 February 2012
The FSA has fined US hedge fund Greenlight Capital, owner David Einhorn and trader and compliance officer Alexander Ten-Holter a total of £7.4m for market abuse.
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Ian McKenna: How technology is reforming the group risk market
6 Feb 2012
F&TRC director looks at the tech behind group risk propositions.
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IMA figures dismiss the myth of 'hidden charges'
2 February 2012
The Investment Management Association has released research that aims to dispel criticisms over “hidden charges” in investment products.
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IMA's new sector gets a mixed response
2 February 2012
The Investment Management Association launched the mixed investment 0-35 per cent shares sector last week.
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John Lawson: Act quickly to save client's pension allowance
2 Feb 2012
John Lawson says the end of the tax year offers advisers a number of opportunities for last minute planning.
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Meteor Asset Management - FTSE Income Deposit Plan 6
20 Feb 2012
Meteor Asset Management - FTSE Income Deposit Plan 6
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Misery loves companies
2 February 2012
Economic pain is not going away but the corporate sector is facing the headwinds in rude financial health
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Miton funds continue low-risk approach
2 February 2012
MAM Funds is continuing to favour low-risk assets for its CF Miton strategic portfolio and CF Miton special situations funds due to the current market uncertainty.
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MM Leader: Time needed to scrutinise new financial services rules
2 Feb 2012
The current Financial Services Bill offers policymakers a rare chance to radically reshape financial services regulation for the better.
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MM Profile: Russell Higginbotham
2 Feb 2012
Swiss Re’s chief executive officer for the UK and Ireland has had a cosmopolitan career and believes the UK could learn from Australia on regulation and pensions Interview by Rachael Adams
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More QE could be needed
2 February 2012
The Bank of England monetary policy committee voted unanimously to keep its programme of quantitative easing at £275bn in January but some members felt it The minutes of January’s meeting show all nine members voted to keep bank rate at 0.5 per cent for the 34th consecutive month.
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Multi-manager View
2 February 2012
Diaries in December and January are filled with presentations from different organisations where they put forward their outlook for the coming year. It may be a bit of a generalisation but, to cynical investors, the equity-oriented houses tend to be more positive than the bond-oriented houses, which could be seen as propounding a gloomy outlook to make bonds a more attractive investment.
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New horizons
6 Feb 2012
Anaemic growth and the sovereign debt crisis in Europe have encouraged investors to look to emerging markets in search of returns.
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New regulator to tighten financial promotion rules
3 Feb 2012
New regulatory powers will force financial services firms to make public instances where the regulator has intervened to stop a misleading promotion.
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Nic Cicutti: Sellers still need policing
2 Feb 2012
Nic Cicutti says there have been many inadequate products that IFAs have filled their boots with in the past.
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Numis sees drive for closed funds
2 February 2012
Numis Securities believes interest from multi-managers will drive demand for specialist closed-ended funds investing in areas that cannot easily be accessed through Oeics and unit trusts.
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Offshore offers choice and performance
2 February 2012
Although offshore funds are included in the IMA fund sectors and available to buy on popular platforms such as FundsNetwork, for some people they retain a certain louche image and lack the respectability of UK-domiciled funds.
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OFT probes Brain buying MortgageStream
2 February 2012
The Office of Fair Trading is to investigate whether Mortgage Brain’s acquisition of MortgageStream breaches UK competition laws.
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Old Mutual builds up Euro banks
3 Feb 2012
Old Mutual corporate bond manager Christine Johnson has added 6 per cent into European banks in the £550m Old Mutual corporate bond fund.
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Out of Context
2 February 2012
“The Australian currency’s been jumping around like a mad kangaroo.”
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Poll finds firms failing to use social media potential
2 February 2012
Almost 60 per cent of senior management in financial services firms think the industry has yet to utilise social media to its full effect, according to research from Cicero Consulting.
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Providers says half of advisers set for restricted move
3 Feb 2012
Around 50 per cent of advisers will move to a restricted model over the first three years of the RDR, according to Zurich and Partnership.
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Regulator tells ITV to put cash into pension scheme
2 February 2012
The Pensions Regulator has ordered ITV to provide support for the Box Clever pension scheme, which has a £62m deficit.
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Regulators will look into how rules affect mutuals
2 February 2012
The Financial Conduct Authority and the Prudential Regulation Authority will consider how their rules will affect mutuals.
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Sants says he never wanted to head FSA
2 February 2012
SA chief executive Hector Sants says he never wanted to head the regulator and is only in the role because he was persuaded to apply.
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Senior Tory presses for UK final say on Euro regulation
3 Feb 2012
Peter Lilley is urging Michel Barnier to give the UK the final say on EU financial services regulation and directives.
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Simon Webster: Clients will pay fees if you demonstrate your worth
7 Feb 2012
I quite like the idea of being able to charge every client that walks through the door.
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Single point for credit
2 Feb 2012
Consumer credit regulation is to be transferred from the Office of Fair Trading to the Financial Conduct Authority.
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'Solvency II will hit capital'
2 February 2012
Prudential has warned that Solvency II could stifle insurers’ ability to provide capital to the economy and invest in infrastructure and corporate bonds.
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Tech providers warn London Olympics could bring down internet services
3 Feb 2012
Technology experts have warned advisers, providers and platforms to put contingency plans in place as internet services may be disrupted during the London Olympics.
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Tenet: Set aside differences and back a trade body
3 Feb 2012
Tenet says IFAs need to put aside some of their differences and show support for a single trade body if they are to have a united voice and lobby effectively.
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The Martin Wheatley effect
3 Feb 2012
Head of the Financial Conduct Authority Martin Wheatley has every reason to be committed to the regulator’s more intensive style of supervision.
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The MMR vaccine
3 Feb 2012
Two years, ago I wrote an article, “Have you had your MMR jab?” and although we are still 18 months away from implementation, some of the main themes still resonate. As intermediaries, we have worked with the proposed change, as consumer behaviour will continue to drive changes to mortgage requirements.
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Three-quarters of PPI complaints to FSCS came through claim firms
2 February 2012
Over three-quarters of consumers submitting payment protection insurance claims to the Financial Services Compensation Scheme do so through a claim management company.
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Ties that bind
2 Feb 2012
People in contract-based schemes get the worst deal once again
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Tisa to work on restrictive covenants pact post-Towry case
3 Feb 2012
The Tax Incentivised Savings Association will try to form an industry consensus on how restrictive covenants should apply in the financial services industry.
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To have and to hold
2 February 2012
There are ways to secure a spouse’s income after a divorce if they are without a pension
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Tony Wickenden: Introducing Seis and changes to VCTs and EIS
6 Feb 2012
Investment opportunities are widening with the introduction of the Seis and changes to EIS and VCTs
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Treasury snubs call to publish FCA minutes
2 February 2012
The Government has refused to bow to pressure to take up Lord Turner’s recommendation that the FCA should be required to publish its board minutes.
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TSC says rapid switch will lead to mistakes
2 February 2012
Treasury select committee chair Andrew Tyrie says the Government is legislating too quickly for the regulatory switch and risks making mistakes as a result.
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Use power carefully
2 February 2012
EDITOR’S COMMENT OF THE WEEK
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'Value for money' FCA
2 Feb 2012
The Financial Conduct Authority is intended be a “value for money” regulator but it will not regulate prices.
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Webb: Auto-enrolment review will go ahead in 2017
2 Feb 2012
Pensions minister Steve Webb says the review of auto-enrolment will go ahead in 2017 as planned and is likely to look at more than just restraints on Nest.
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Winter warmer
6 Feb 2012
February has arrived! Can it be as kind to investors as January? At least, January appeared to be proving kind towards the end of last week.
