Money Marketing
3 December 2009
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Long division
3 Dec 2009
A complete overhaul of decumulation is required, says Aegon’s Rachel Vahey.
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£1.4M deficit for ifs School of Finance
2 Dec 2009
The ifs School of Finance accounts show a £1.4m deficit last year, following a surplus of £1.7m in 2007.
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Adviser Fund Index
3 December 2009
Commercial property funds were the big winner in the November Adviser Fund Index rebalancing, as panellists demonstrated renewed appetite for the asset class.
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Advisers wary of China choice
3 December 2009
There has been a mixed response from advisers to the news of Anthony Bolton return to running money in a new China fund.
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Aifa assesses guidance impact
3 December 2009
Aifa is concerned about some of the assumptions made by the FSA in its guidance on the structured product market following its review of Lehman-backed plans.
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Aifa waiting to see the effects of EU reshuffle
3 December 2009
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Ailo research aims to reveal scope of mirroring RDR charging abroad
3 December 2009
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Air of sympathy
4 Dec 2009
There has been a marked change in public perception of IFAs says Fiona Sharp.
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Bank bail out has cost taxpayer £850bn so far
4 Dec 2009
National Audit Office says the Treasury was “justified” in using taxpayers’ money to bail out banks.
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Blue Sky Asset Management - Absolute Return Plan
1 Dec 2009
Blue Sky Asset Management - Absolute Return Plan
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Blue Sky Asset Management - Capital Accumulator Auto-Call - Dual Index Series IV
1 Dec 2009
Blue Sky Asset Management - Capital Accumulator Auto-Call - Dual Index Series IV
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Bond strategy changes focus
4 Dec 2009
Hannah Stodell reports on a shift of emphasis
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'Brand, people and processes will be decisive influences'
3 December 2009
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C&G manager is jailed for stealing mortgage cheques
4 Dec 2009
Branch manager jailed for stealing mortgage repayment cheques.
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Cautious return to commercial sector
3 December 2009
Multi-managers T Bailey and Midas Capital are reintroducing UK commercial property back in to their portfolios but both remain cautious in their outlook for the sector.
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Chatfeild-Roberts back in tech but warns of deflation in US
3 December 2009
Jupiter director of independent funds John Chatfeild-Roberts has warned that the US is facing a deflationary threat on a par with that of Japan.
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Check the labels
3 Dec 2009
“I believe that those seeking the term “advice” or “adviser” need to make sure that is the core of the proposition, whether it is restricted or not.”
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CML associate members fall by fifth in two years
4 Dec 2009
Trade body lost 20 per cent of associate membership at a cost of £125,000.
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Conferences clash for PFS and IFP
3 Dec 2009
The Personal Finance Society and the Institute of Financial Planning have scheduled their annual conferences for the same dates in September next year.
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Discretionary firms pose threat to multi-manager
3 December 2009
Defaqto says discretionary fund managers are creeping into the market as potential competitors to multi-manager products.
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Draft standards
3 December 2009
The Financial Services Skills Council has published drafts for the QCF level four specialist standards, as the Professional Standards Advisory Group signs off the final version of the core standards.
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Dubai crisis shows market fragility
3 December 2009
Experts have warned that reaction to the Dubai debt crisis has highlighted the continuing fragility of the markets.
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Elephants on the trail
3 December 2009
Towry Law’s chief executive’s justification for taking “up to £6m annually in trail commission’ from the funds of 300,000 investors for whom he admits he provides no service whatsoever highlights two elephant-in-the- room questions which many fund industry participants previously concealed from consumers, namely:
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Enterprise Group in administration
3 December 2009
Packager Enterprise Group entered administration on November 27. Enterprise Finance will continue to trade as normal while Enterprise Broker Services has gone into administration along with several other subsidiaries.
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Ex-Suisse chief slams fund fees
3 December 2009
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Filling in the gaps with CPD
3 Dec 2009
PFS chief Fay Goddard discusses the RDR exam gaps that need to be filled by CPD.
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Firms set up equity-release body
3 December 2009
Equity-release specialists Mortgage Portfolio, Bower Retirement Services, Kelly Financial Services and Charles Cameron & Associates have formed a new trade body called The Society of Equity Release Advisers.
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Foresight saga
3 December 2009
Nothing that Barry Johnson has said in his letter to Money Marketing convinces me that I should soften my view on grandfathering - quite the opposite in fact.
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Former BoE deputy joins GLG
4 Dec 2009
Sir John Gieve to focus on the group’s UK equity business
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Fosberry calls for professionalism to bring in graduates
3 December 2009
The newly elected president of the Personal Finance Society, Mike Fosberry says the industry needs to encourage graduates to see financial advice as a career.
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FSA bans loan firms for management failings
3 December 2009
The FSA this week banned two mortgage brokers for management failings and for failing to treat customers fairly.
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FSA picks fined firms' bosses to advise on screening applicants for industry top jobs
3 December 2009
The FSA last week appointed Nomura chairman Colin Marshall as a senior adviser on corporate governance just two days after it fined the firm £1.75m for system and control failings.
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FSA won't give way on caveats for projections
3 Dec 2009
Regulator warns it will not cave in to pressure from the ABI to allow companies to continue using standard projection rates for cash.
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High-earners told to add to pensions before PBR
3 Dec 2009
Hargreaves Lansdown writes to clients recommending planned pension contributions are made before next Wednesday.
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Hoban sees drawbacks in product regulation
3 December 2009
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Hope for self-employed loans
3 Dec 2009
Nationwide and Platform both developing new self-employed mortgage products in light of the proposed FSA self-cert ban.
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House prices rise
3 December 2009
The Nationwide house price index shows house prices rose by 0.5 per cent in October, up by 2.7 per cent over the last 12 months.
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Howard moves to Barclays
3 Dec 2009
Former Prudential business director of investment platforms Carl Howard has joined Barclays UK Retail Banking as head of direct investments.
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IFA accuses Aviva of bid to poach client
4 Dec 2009
Adviser says provider contacted his client two weeks ago without his consent to discuss retirement options.
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Illogical arguments
3 December 2009
Open letter to FSA director Lesley Titcomb There has been much comment about the advent of the RDR in 2012 and, in my view, the long overdue requirement that the minimum benchmark qualification be raised to the meagre level four diploma standard.
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Late filing
3 December 2009
Mortgage brokerages John Charcol and Alexander Hall are both more than a month late in filing their accounts to Companies House. Both firms were due to file 2008 accounts on October 31, 2009 but have not yet done so. Last year, John Charcol’s directors pumped £2.1m into the business on top of the £1.5m put up in 2007.
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LibDems rein in mansion tax
3 December 2009
The LibDems have scaled back mansion tax proposals to properties worth more than £2m.
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Living will fears for insurers
3 December 2009
Royal London is concerned that insurers will be forced to draw up living wills along with banks after it emerged that the Financial Stability Board has drawn up a list of 30 international firms that could be most at risk in the event of a financial global meltdown.
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Loan sector may be frozen out of standards board
4 Dec 2009
AMI warns the mortgage industry may get no representation on the proposed Professional Standards Board.
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Midas Capital to sell wealth management arm
3 Dec 2009
Midas Capital is selling its wealth management business to Jardine Lloyd Thompson.
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Missing the point
3 December 2009
May I clarify the issues that I am raising regarding the open market option, particularly in light of Maggie Craig’s recent comments in Money Marketing.
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MM leader: Big benefits in protection boost
3 Dec 2009
The failure of insurers and reinsurers to agree to fund the Consumer Protection Insurance Engagement Campaign is depressing news.
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Moonraker is backing India to outperform China
3 December 2009
Moonraker Fund Management expects India to perform better than China over the next 10 years.
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Mortgage Alliance in off-plan deal for buy to let
3 December 2009
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MPC was in dark over secret bank bailout, says Blanchflower
3 Dec 2009
Former MPC member says hiding the banks’ secret £60bn loan from the committee was “questionable at best”.
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Nils Bolmstrand
3 Dec 2009
Skandia Investment Group’s cosmopolitan new chief executive has an international perspective and believes in a worldwide blend to bring the best results Interview by Lee Jones
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No hiding place
4 Dec 2009
Bob Reynolds sets out the terms of the latest and final Revenue tax amnesty on declaring offshore assets and warns that time and places are running out for evaders
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Novia clashes with Skandia on platform transparency
3 December 2009
Novia has hit out at Skandia for failing to mention the retail distribution review drive to transparency over charging in its new platform due-diligence guide.
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Options' average stays at 11 days
3 December 2009
The average transfer time under the Association of British Insurers’ Options initiative remained 11 days in the third quarter, unchanged from the Q2 figure.
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Out of context
3 Dec 2009
”At lunchtime he went out and got himself a perm.”
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Painting the big picture
4 Dec 2009
Julie Lord
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Pattullo sees boost for strategic bonds
3 Dec 2009
Henderson manager says strategic bond sector could rival corporate bonds in size.
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Price of performance
4 Dec 2009
Paul Farrow says the furore over fund fees is really about sub-standard returns.
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Property is top-selling fund sector
3 December 2009
Property funds topped the fund net retail sales in October while sales of corporate bond funds turned negative, according to the latest Investment Management Association statistics.
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Property principles
4 Dec 2009
Alan Borrows has begun to look more kindly on the UK property market as a source of income.
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Protection push fails over aggregator fears
3 December 2009
The Consumer Protection Insurance Engagement Campaign has failed to raise the funding to take its plans forward after providers feared online aggregator sites would attract most new business as a result of a campaign.
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RBS board may quit if Treasury blocks £1.5bn staff bonuses
3 Dec 2009
Board advised to resign after the Chancellor said the government would have the right to veto bonus amounts.
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RBS set to back down over bonuses
4 Dec 2009
RBS insider claims pay-outs in the investment division will be “at the low, low end of the scale”.
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Recruiting drive for Adviser Alliance
2 Dec 2009
Recently formed IFA lobby group Adviser Alliance is fully operational and accepting members.
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Revenue extends final deadline for tax amnesty
3 December 2009
HM Revenue & Customs has announced a last-minute extension to its tax amnesty for offshore bank accounts.
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Ruling shows bank aren't expected to TCF, says Bradshaw
3 December 2009
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Shifting sands
4 Dec 2009
Brian Tora says that Dubai’s debt problem serves as a reminder that the full price for easy money has still to be paid.
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Skandia looking at bringing South Africa guarantees to the UK
3 Dec 2009
Skandia Investment Group is considering launching guaranteed products.
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Special sits will be stock style
3 December 2009
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Swip buys Aviva property portfolio for £260m
4 Dec 2009
Swip property trust buys12-property portfolio.
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Tenet set for three-way rebrand
3 December 2009
Tenet Group is to rebrand its operations early next year.
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The feeling's Mutual
3 Dec 2009
“What is quite surprising, given the quality of fund managers in the small cap sector, is how unfashionable UK smaller companies have been over the years.”
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The flaw in Fisher's claim
3 December 2009
I have read many of the letters on this topic and am staggered that no one has yet spotted the obvious flaw in Towry Law chief executive Andrew Fisher’s statement.
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The future of advice
3 Dec 2009
Ian McKenna examines the future technology landscape for financial advice.
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Tories believe Govt must have more say on EU
2 Dec 2009
Shadow minister Mark Hoban says Government should have done more to influence European regulation.
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Uncover Sipp costs
3 Dec 2009
Advisers must scrutinise the opaque charges
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We need reassurance on lenders
4 Dec 2009
Personal Touch’s Dev Malle says FSA proposals for lender responsibility could have serious repercussions.
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Yorkshire and Chelsea merger talks
3 December 2009
Chelsea Building Society is in advanced talks with Yorkshire Building Society over a potential merger. In August, Chelsea posted a £26m loss for the first half, making provision for a £41m mortgage fraud.
