Barclays’ profits rose by 8 per cent in the the first half of this year to £2.98bn from £2.75bn in 2008 while HSBC’s profits halved to £2.98bn from £6.1bn.
Bright Grey and Scottish Provident propositions director Roger Edwards has warned that the consumer protection insurance engagement campaign could be a short-term fix to a long- term problem.Edwards says the recommendations to be presented to the CPIEC next month by Cicero Consulting will probably inc-lude a media campaign costing each of the 22 members £1m-plus […]
Platforum has launched a service for IFAs to anonymously review platforms in order to help other advisers in their wrap selection process.
Capita Financial Managers is suspending trail commission to advisers who have clients invested in the £400m CF Arch cru fund range.On July 29, Capita announced that all charges from investors in the fund range, including annual management charges to the funds’ investment manager and trail commission to IFAs, are being suspended.The suspension applies to fees […]
Legal & General has almost halved its dividend to 1.1p per share from 2p last year but has ruled out a rights issue.The firm’s interim results on Tuesday reveal operating profit on an international financial reporting standards basis plunged by 92 per cent to £31m in the first half of this year, down from £391m […]
Loomis Sayles senior global economist James Balfour looks at the three main macro themes evident during October: a world lacking in demand; the strength of global market performance; and the required exit from profits recession. Click here
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Another investment manager offering enterprise investment schemes has alerted clients of a 10 per cent drop in value for one of its portfolios following new Mifid rules. Mifid II, which came into force on 3 January, requires firms to notify clients when the overall value of their portfolio, relative to its value at the beginning of each reporting […]
The recent enquiry by the work and pensions select committee has reignited the debate about the future of collective defined contribution schemes. Whether these sort of schemes can be incorporated into the current UK pensions landscape is a moot point. Let’s consider some of the arguments for and against CDC. First of all, it is […]
Retirement interest-only mortgages are set to become more popular following the FCA removing hurdles to selling them. The regulator sees RIO mortgages as a possible aid to the waves of maturing interest-only loans with no repayment strategy. However, the FCA also wants RIO mortgages to be sold more widely, for example as an additional option […]