Standard Life has appointed Sir Brian Stewart as its new chairman to take over from John Trott who retires on June 30. Stewart is chairman of brewing giant Scottish & Newcastle. He has been a non-executive director of Standard since April 1993. Trott has been with the life office since joining as a non-executive director in January 1974.
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'Isa failure spells end of pricey mailshots'
The failure of this year's Isa season will force fund firms to scrap expensive mailshots in favour of simple, point-of-sale marketing aids, says Credit Suisse Asset Management. Writing in this week's Money Marketing, managing director Ian Chimes says fund managers must take drastic action to change the way they market funds to IFAs and their […]
Income-seeking Isas dominate Cofunds top 20
Sales figures from IFA fund supermarket Cofunds show that income-seeking funds were by far the most popular choice in the recently closed Isa season. The number of incomeseeking funds in Cofunds' top 20 best sellers has more than doubled this year and represents 16 funds from seven in the previous season. No smaller company, European […]
Credit Suisse dominates Cofunds' Isa sales
Credit Suisse's income fund was the top-seller on supermarket Cofunds this Isa season for the second year running. From January 1 to April 5 the fund outsold Liontrust's first income fund, which came second, Legal & General's fixed interest fund in third and Old Mutual's corporate bond fund in fourth. Fidelity's special situations fund, often […]
Tax to rise on life bonds
Higher-rate taxpayers will face a tax rise of 2 per cent on encashment of life investment products next year after changes to the taxation of life investment bonds in last week's Budget. The underlying life fund will be taxed at 20 per cent rather than 22 per cent, leaving the higher-rate taxpayers facing tax bills […]
Artemis High Income: Crunches vs wobbles
Alex Ralph, manager of the Artemis High Income Fund, talks about high-yield bonds in the US and Europe – and why she favours the latter.
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SJP plans 10-day blackout for replatforming
Advice giant St James’s Place will block access to its investment platform for 10 days while it migrates services to a new provider. SJP tells Money Marketing that the work will affect online service ability for clients between 19 October and 29 October. A spokesman says: “SJP will carry out essential maintenance to our systems as part […]
Can advisers really beat the market downturn?
This summer saw the S&P 500 rule headlines for enjoying the longest-running bull market in history. Yet, as per the old adage, what goes up inevitably comes down, and it is the job of advisers to manage clients’ portfolios accordingly – either directly or via the third-party investment services they use. A crude assumption might […]
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Tom Hegarty: Should paraplanners be Level 4 qualified?
There is currently no minimum qualification level, but the majority of advisers think this needs to change The role of the paraplanner is a relatively new one and its definition and responsibilities can differ hugely between firms. According to the Chartered Institute for Securities and Investment, the role can be broken down into four key […]