Money Marketing
25 November 1998

  • ABI third quarter figures show eight per cent rise

    30 Nov 1998

    Demand for life insurance and pension policies is continuing to rise according to the Association of British Insurers.

  • ABI's third quarter figures show 8 per cent rise in life and pensions business

    1 Dec 1998

    Demand for life insurance and pension policies is continuing to rise according to the Association of British Insurers.

  • Aon urges pensions funds to heed the single currency

    30 Nov 1998

    Aon Consulting is urging UK pension schemes to start preparing for the launch of the euro in January next year.

  • BIIBA in Millennium Bug warning to brokers

    27 Nov 1998

    Over 1,000 brokers may be unable to trade at the turn of the Millennium because software providers have failed to make computer systems Year 2000 compliant.

  • Britannia offers free employment insurance on two capped rate mortgages

    27 Nov 1998

    Britannia Building Society is rolling out two capped-rate mortgages with free unemployment insurance for the first year.

  • Brokers give thumbs up to Standard Life's three minute mortgage

    27 Nov 1998

    IFAs have given the thumbs up to Standard Life's three minute mortgage suggesting that the service could prove a hit if it lives up to expectations.

  • BVCA says over 1 million employed by venture capital-backed firms

    30 Nov 1998

    Over 1 million people are employed by companies backed by investment from British venture capital, according to a survey by the British Venture Capital Association.

  • C&G cuts rates on two investment accounts

    1 Dec 1998

    Cheltenham & Gloucester is cutting the interest rates on two of its premier investment accounts.The Direct Transfer telephone account will pay 6.5 per cent gross per year on the top tier of £25,000 or more. It will pay 6.3 per cent on the lowest balance of £2,500.Investors in Branch 10 will receive an annual gross rate of 6.5 per cent on all balances over £1,000.

  • CGU projects environmental image

    26 Nov 1998

    CGU Life plans to project an illuminated 20-foot Energy Efficiency logo on to its head office building to demonstrate its commitment to environmental issues.

  • Clinicare rejects EC recommendations on alternative medicine

    1 Dec 1998

    Clinicare is opposing a European Commission recommendation that alternative medicine practitioners should be subject to much tighter regulation.

  • Consumers' Association comes out against Weinberg

    26 Nov 1998

    The Consumers' Association has slammed Sir Mark Weinberg's proposal for three-tiers of financial adviser saying it will only lead to more consumer confusion.

  • David Aaron Partnership recommends six corporate bond Peps

    26 Nov 1998

    The David Aaron partnership is recommending six Corporate bond Peps in its new guide. They are the Aberdeen Prolific Corporate Bond Pep, CGU Monthly Income Plus, Dresdner RCM Preference Share Pep, Legal & General Corporate Bond Pep, M&G Corporate Bond Pep and the Perpetual Cash Generator Pep.The guide considers the performance, risk and relative tax efficiency from April 1999 in comparison to equity income Peps.

  • Downing's Classic VCT

    25 Nov 1998

    Downing Corporate Finance has added another venture capital trust to its existing range with the aim of raising £10m.

  • Duncan Lawrie says Bordeaux wine performing better than FTSE

    30 Nov 1998

    Duncan Lawrie the private banker is advising clients to invest in next year's first growth Bordeaux wines.The returns on wine investments have compared favourably with the FTSE 100 and are not subject to Capital Gains Tax.Prices have dropped by 35 per cent following the economic crises in the Far East but the private bank says prices will start to rise in April 1999 when more stock becomes available.

  • Friends Prov launches flat load charging GPPs

    26 Nov 1998

    Friends Provident is launching a group personal pension plan using a level load charging structure.The Series 2 Plan has been designed to produce higher transfer values in the earlier years but lower maturity values compared to its existing plan.IFAs will be able to choose either Series 2 or the existing plan. Both plans offer Friends Provident full range of 16 investment funds, including With Profit Fund and the ethical Stewardship Fund.

  • Generali launches offshore website for IFAs

    25 Nov 1998

    Generali is developing an interactive web site to give international IFAs round-the-clock access to the full range of its literature and performance data.

  • Halifax says house price inflation will be steady next year

    26 Nov 1998

    Halifax says that its October House Price Index confirms its view that house prices will continue to rise at a moderate pace.It expects house price inflation next year to be in the region of 4 per cent, despite the expected economic slowdown.The survey also shows that the difference in the average price of a brand new home and an existing home is less than £800 at £74,045 and £73,371 respectively.

  • IFAs and brokers form Cardiff Society of Investment Managers

    30 Nov 1998

    IFAs in Wales will be able to join a new society bringing together investment advisers and fund managers.

  • Institute of Actuaries hits out at life offices' accounting

    25 Nov 1998

    The Institute of Actuaries has attacked the current accounting practices of UK life offices.

  • Interactive Investor aims to be sole provider of online share trading for IFAs

    1 Dec 1998

    Interactive Investor is planning an expansion backed by £8m of venture capital to make it the sole provider of electronic share trading for all IFAs and stockbrokers by next summer.

  • Latest VCT from Downing

    25 Nov 1998

    Downing Corporate Finance

  • Law firm warns on competition law

    30 Nov 1998

    A leading law firm is urging businesses and financial institutions to prepare for the launch of the new Competition Act or face heavy fines.

  • Lazard wins best global fixed income award

    30 Nov 1998

    Lazard Asset Management is celebrating being awarded Best Global Fixed Income Fund at the OFFEX 1998 Awards for Excellence.

  • MoneyStore cuts rates on one-year fixed rate products

    26 Nov 1998

    The MoneyStore is reducing its two one-year fixed-rate products by 0.74 per cent and 0.96 per cent respectively.

  • Nationwide leads way on cheaper mortgage products

    26 Nov 1998

    Nationwide is launching three-year and five-year fixed-rate mortgages at 5.49 per cent and 5.79 per cent respectively.

  • Nationwide offers 'lowest ever' mortgage

    27 Nov 1998

    Nationwide has launched a range of fixed and capped rate mortgage products, boasting they are its lowest ever deals.

  • Nationwide offers customers two new 'loyalty' bonds

    1 Dec 1998

    Nationwide is offering its members of three years or more the chance to invest in two savings bonds.The Members' Fixed Rate Bond is a one year fixed-rate bond paying 7.35 per cent gross.The Members' Reward Bond is a three year variable rate bond currently paying 7.75 per cent gross.The building society says the minimum investment for both bonds is £1 and qualifying members should apply at their local branch.

  • Nationwide's mortgage share falls over 6 months

    25 Nov 1998

    Nationwide Building Society's share of the mortgage market dip to 11.6 per cent in the six months to October from 11.9 per cent for the full year of 1997.Despite the slip in market share, the building society increased its pre-tax profits by 20.4 per cent to £212.7m, from £176.6m.Its net mortgage lending in the six months increased to £1.7bn.

  • OFT's Bridgeman sets out ideas on benchmarked mortgages

    26 Nov 1998

    The OFT is urging mortgage providers to develop a bench-mark-based code of practice to help produce a genuinely competitive market.

  • Old Mutual considers sale of life business

    25 Nov 1998

    South African financial services group Old Mutual is reviewing its UK life insurance subsidiary as part of its plan to focus on asset management.

  • Pearl sponsors after school kids' clubs with £2m

    1 Dec 1998

    Pearl is using Damon Hill as a figurehead for its £2m sponsorship of a nationwide initiative to provide children with a safe place to go after school.

  • Pension funds up just 1 per cent by Q3 due to market turmoil

    25 Nov 1998

    UK pension funds have successfully weathered this year's stock market turmoil, according to the WM company.

  • PIA calls for definition of consumer in FSM bill

    1 Dec 1998

    The PIA's independent consumer panel is calling for the definition of consumer to be amended in the draft Financial Services and Markets Bill.The panel wants a distinction to be made between the 'man-on-the-street' and the serious investor.It wants the Bill to include a broader scope to help provide one stop shops for customers including mortgage advice, lending and long-term care insurance.

  • Pru welcomes Government's internet ambitions

    26 Nov 1998

    Prudential has welcoming the Government's Electronic Commerce Bill as a means of improving competitiveness in the digital marketplace.The life office says that it specifically set up its direct banking operation Egg to make comprehensive use of the internet.It says quotations and applications are already available online and it will gradually introduce more internet services to complement Egg's telephone and direct mail facilities.

  • Royal & SunAlliance rehires former top salesman

    30 Nov 1998

    Royal & Sun Alliance International Financial Services has recruited its former top salesman as regional sales manager for the central London region.Mark Hurley was an executive broker consultant with Royal & Sun Alliance before becoming account manager at Canada Life.He was Royal & Sun Alliance's top salesman in 1992 and 1993.RSAIFS is also relocating taxation and trusts expert Chris Tagg. He is to move to southern England from the Isle of Man head office.

  • Scottish Life appoints two new senior managers

    27 Nov 1998

    Scottish Life is making two new appointments to its senior executive team.John Wallace will become general manager of customer services and David Hughson general manager of investment.Wallace joined Scottish Life's systems division in 1967 before becoming assistant general manager of administration in 1994.Hughson joined in 1981 and became chief investment manager in 1996.Both appointments are effective from January 1 1999.

  • Scottish Widows cuts standard variable rate mortgage

    26 Nov 1998

    Scottish Widows Bank is reducing its standard variable mortgage rate to 7.49 per cent from 7.99 per cent.

  • Sedgwick Noble Lowndes name to disappear in new year

    1 Dec 1998

    The Sedgwick Noble Lowndes name is set to disappear from January 1 as the firm is merged into William M Mercer. The move follows the takeover of Sedgwick Group by Marsh & McLennan, Mercer's parent company, in August. Mercer's UK chairman and chief executive David Barford will assume responsibility for UK operations. Sedgwick Noble Lowndes UK chairman Robert Walker has been forced into early retirement.

  • Sloc's IFA arm gets go ahead

    25 Nov 1998

    The PIA has given Sun Life of Canada regulatory approval to launch its IFA arm Sloc Independent.The IFA will operate on referrals from the company's field force, concentrating on products the insurer does not provide like healthcare. It will start with three registered individuals but may grow to over 30 depending on referrals.Sloc Independent will start trading on November 30. It will be headed by former Abbey National IFA regional manager for Scotland Barry Walsh.

  • Standard Life angers Tep providers by voicing projection doubts

    1 Dec 1998

    Standard Life has angered Tep providers with accusations that they are providing consumers with unrealistically high projections for maturity values.

  • Survey shows those in UK with £50,000 in assets to grow by 25 per cent by 2005

    30 Nov 1998

    Merrill Lynch is predicting that the number of UK investors with financial assets exceeding £50,000 will increase 25 per cent by 2005.

  • The Exchange ties up with Financial Express

    25 Nov 1998

    IFA technology specialists The Exchange has announced plans to merge its unit trust and key features documents service with price information provider Financial Express.The two services will be integrated next year. As part of the deal, The Exchange is buying a 25 per cent stake in Financial Express.The Exchange says the purchase is a sign of its increasing commitment to the unit trust and wider-invested funds market.

  • Tories attack ISA retreat

    25 Nov 1998

    The Government has watered down its commitment to extend savings to a further six million people through individual savings accounts, according to the Tory party.In a response to a Parliamentary question two weeks ago by Tory Treasury spokesman Nick Gibb, which raised the question of six million extra savers, Prime Minister Tony Blair avoided mention of any target.In December last year Blair said ISAs would give six million more people the chance to save.

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