28 November 2007
Caveat emptor (let the buyer beware) is now a standard warning embedded in our marketplace. In contract or tort law, however, the doctrine of caveat venditor (let the seller beware) has become more prevalent. It is my contention that this trend should be followed by the IFA community.
Increasing numbers of schemes are being launched to create embedded value in adviser firms.
AberdeenAberdeen Global - Responsible World Equity Fund
Arc Fund Management is looking to raise up to £7.5m in C shares to increase the investment opportunities within the Arc growth company venture capital trust.
The gap between women's and men's pension provision is continuing to widen. Is it time for women to start taking more risks?
For an area of our lives that has enjoyed the close attention of politicians for so many years, it is amazing how resilient the housing market has been.
Often, the time to buy sectors is when they have performed poorly. Apart from Japan, which has performed badly, the next worst is North America which has gone up by only 22 per cent and 40 per cent over the last three and five years respectively.
The purchase of wholeloan books of business by building societies has come under close scrutiny from the FSA since the credit crunch took hold in August.
Financial adviser Billy Burrows has joined MPL Wealth Management but will continue to trade as William Burrows Annuities.
Liberal Democrat acting leader and shadow chancellor Vince Cable has warned that a house market crash is a real possibility.
Cavanagh has bought corporate adviser JRG Financial Consultancy for a cash and share sum of £5.3m.
Neptune has sold its two multi-manager funds to City Financial in a deal that will see the firm cut its ties with the fund of funds market.
Cheltenham & GloucesterFull Term Tracker
Cheshire Building SocietyThree Year Fixed Rate Mortgage
Clerical Medical has made corrections to some 64,000 life policies after discovering a discrepancy in the annual management charge.
At the start of the year, after having delivered double digit returns for the past three years, there was a growing consensus in the financial services industry that the commercial property sector was to take a hit.
Forty-six per cent of consumers want a choice of payment options for financial advice and a third believe advisers should be paid through commission, says Aifa.
The next regulatory wave to crash against the IFA sector will be a review of firms that have been conducting high-volume transfers out of finalsalary schemes.
One thing I always find fascinating about this job is the diverse range of opinions people have about various subjects.
Doric Asset Finance, is aiming to raise £170m from UK and German investors for Geno Lion Plaza GmbH & Co KG, a closed-ended fund that invests in a retail and office building in the City of London.
Edge Investment Management/RAM CapitalEdge Performance VCT D Shares
Epic Private EquityEpic VCT
Equitable Life has announced that its agreement to transfer £1.7bn with-profits annuity policies to Prudential has been approved by the Royal Court of Guernsey and the Royal Court of Jersey.
Big families are much less common than they used to be but I have a couple of clients with large numbers of children. Are there any financial planning issues that need to be looked at in this situation?
Fidelity has replaced two of the managers on its UK range with Mark Hodges and Carlos Moreno coming off the UK aggressive and UK growth portfolios respectively.
Fisher Investments has appointed Miles Standish as the new managing director of its wealth management arm.
Not content with reshaping the investment marketplace through the retail distribution review, the FSA has now signalled the RDR could have a heavy bearing on mortgages and protection.
The FSA has put back its retail distribution review timetable and suggested the final proposals will need to be less complex than originally suggested.
The FSA has warned the mortgage industry that there is a “very real prospect” that credit conditions will worsen further into next year.
An FSA review has found firms are not doing enough to ensure their Appointed Representatives are treating their customers fairly with four firms facing enforcement.
This year's difficult market conditions provide the perfect backdrop for multi-managers to restate their modus operandi and, indeed, their raison d'etre.
Henderson Global Investors is adding the Horizon global financials fund to its Luxemburg Sicav range.
One impact of the sub-prime crisis could be a reduction in Bank of England base rates.
This will be my last Money Marketing Expert column in my current role as in January my husband and myself are moving to South Africa.
New multi-manager Maia Capital opened its doors to business last month. Resolution's fourth joint-venture boutique has launched with an initial core range of onshore cautious, balanced and growth funds and two offshore portfolios. Former Fidelity managers Chris Ralph, Jason Collins and Simon Mungall were hired to run the money, with Resolution providing £200m of seed funding. Last week, the boutique revealed some of its investments.
IAF SecuritiesCapital Protected Commercial Property Plan
Invesco PowersharesPowershares Dynamic US Market
Invesco PowersharesPowershares Global Clean Energy Fund
Invesco PowersharesPowershares FTSE RAFI 1000
Investec Asset Management has announced the appointment of Amr Seif as a portfolio manager to its frontier investing team.
JPMorgan new Europe co-manager Amr Seif has left the firm to persue other opportunities.
Keydata has introduced two structured products which provide geared - also known as accelerated – returns that are linked to the FTSE 100 index.
Lazard Asset ManagementGlobal Equity Income Fund
Prudential is the latest life office to go down the outsourcing route with Capita taking on the administration of seven million life and pensions policies for the next 15 years.
Managing PartnersTraded Policies Fund
Royal London head of intermediary business John Deane has denied rumours that Bright Grey and Scottish Provident will merge if Pearl successfully acquires Resolution.
Meteor Asset ManagementPrima Growth Plan 5
Midas Capital's two multimanager funds exceeded a 10 per cent market share of Cofunds' net sales for the first time in October.
BlackRock Merrill Lynch has introduced the MLIIF European enhanced equity yield fund, which aims for income and growth by investing in dividend-paying European equities and derivatives.
Sometimes I wonder if the FSA isn't some strange collection of major public school sadists urging the market on to greater and greater levels of masochism. Industry-led self flagellation anyone?
Neptune has added two offerings to its investment range with the launch of both a Latin America and Asia Pacific opportunities fund.
Noble Fund Managers has appointed Paul Toon as the firm’s head of unquoted investments.
Octopus InvestmentsTitan VCT 1 and 2
Octopus InvestmentsTitan VCT 1 and 2
Pink Home LoansTMB House-To-House 90 Tracker
When I was a child, my late father took me to see Tommy Cooper and the next day I felt that I had bust a rib or two, such was the severity of the mirth he delivered.
Invesco PowerShares has launched its first exchange traded funds on the London Stock Exchange.
Next year marks the 25th anniversary of my first mortgage. It also marks the 25th anniversary of my endowment, which matures in May.
Last week saw the rollercoaster ride continue on the markets. Talking to a couple of investment professionals, I was alarmed to find them making comparisons with early 2000. The market feels far from comfortable but the malaise is not universal and we are not as overextended as we were at the start of the new millennium.
Prudential has signed a £722m outsourcing deal with Capita to administer seven million life and pensions policies for the next 15 years.
PSigma Asset ManagementEuropean Income Fund
The individual protection market is dominated by four or five providers but the latest Defaqto protection service report shows that IFAs do not get the level of service they expect.
The FSA has signalled the retail distribution review may well have a huge impact on the mortgage and protection market with questions to be answered over training and competence, churning and consumer understanding.
The son of Greek-Cypriot immigrants who moved to England after he Second World War, Axa Fram-lington chief executive Robert Kyprianou grew up in modest surroundings. His father worked in the catering business as a chef while his mother was in the rag trade.
What is the liability for taxpayers in the Northern Rock case?
Property fund of funds manager Seven Dials expects to complete a third acquisition for its European property fund in the next three to four weeks.
The UK has arguably the most sophisticated financial system in the world.
Thanksgiving is a time of celebration in the US and for investors looking at the world's biggest economy, there could be rich pickings among the sub-prime gloom.
Standard Life has pulled out of the UK protection market admitting its proposition is "sub-scale".
The vultures are circling round the Eaglet investment trust after a lengthy period of underperformance.
Acting Lib Dem leader Vince Cable has accused the FSA of a "dereliction of duty" in failing to suspend Northern Rock shares.
Swiss Life looks set to buy the German financial adviser firm AWD, parent company of AWD Chase de Vere, for £824m.
T1ps Investment ManagementSF T1ps Smaller Companies Growth Fund
What are the key points for smaller IFA firms in their response to the FSA's plans set out in the retail distribution review?
Asia has not been immune to the recent market turmoil but does hold growth opportunities for prudent investors.
If you thought before that the FSA was not focusing heavily on the mortgage market you had better think again.
Over the past few weeks, I have been looking at the potential impact that the pre-Budget report proposals on the taxation of capital gains might have on the most appropriate choice of investment wrapper for individuals. Similar considerations need to be applied for trustees, on tax grounds at least. Trustees can in effect be viewed as higher-rate taxpayers with a smaller annual CGT exemption.
Thinc Group has announced the acquisition of high-profie financial planning firms Chambers Morgan James and Cavendish Financial Management.
In my last article, I discussed reasons why a client might expect to profit by transferring a pension fund from one money-purchase contract to another. More pertinently, I suggested an outline format for a suitable recommendation letter which should ensure the client is made aware of the possible advantages and disadvantages of such a course of action.
The Treasury and the Bank of England are believed to be drawing up contingency plans to pay Northern Rock's depositors their money if the lender has to be put into administration.
Will Henley reports from an all-night vigil in the long battle for pension justice for thousands of people who were left desolate when their companies bust.
The fact that Paragon's warehouse lines were due to roll over in February has been well known for some time, so its half-year announcement should have come as no surprise. The near halving of its share price as a reaction shows yet again that common sense has gone walkabout. The position was compounded by the latest update from Northern Rock and the Treasury. The odds on Chancellor Alistair Darling presenting the next Budget must be shortening by the second.
Scottish Widows has stopped offering protection quotations through industry portals prompting speculation it may follow Standard Life and abandon the protection market.
Ours is an industry that depends on people being aware of the possibility of their own death, ill-health or disability and also being stimulated somehow into looking at how they might mitigate the financial implications for them and/or their dependants through insurance.
Woolwich has been forced to email brokers detailing its current service troubles after numerous complaints about the lender.
Traditional wrap services leave clients under-serviced and advisers over-stretched, according to Parmenion Capital Partners.