Berkeley Berry Birch says it will complete refinancing before its full FSA hearing in February and denies it will dump any liabilities on the Financial Services Compensation Scheme. BBB non-executive director Jonathan Hall says the capital deficit, currently 10.9m, will be met through investments from directors and senior managers and disposals of non-core businesses such […]
Savills Private Finance is set to enter the non-conform- ing mortgages market in the new year. In a break from its traditional focus on top-end lending, Savills is also considering a move into affordable housing and looking to double the staff in its international mortgages arm. The London firm is looking to expand its broker […]
Schroders is the hot favourite to buy Gartmore, with the firm’s American owners understood to have decided on a trade sale. Gartmore’s US owner Nationwide Mutual is reported to have ruled out a flotation of the business in favour of selling it, with industry sources believing that that Schroders is the most likely buyer although […]
MM is too modest to include its own 20th Birthday Somerset House extravaganza in its parties of the year list although it had all the right ingredients – ambulances, chocolate fountains and drunk bucking bronco riding – so here is the run-down. Number one is the Lifesearch karaoke party with the now famous Austin/Lappin transvestite […]
At the beginning of 2015, we highlighted that the new pension freedoms that come fully online on 6 April also represent a very attractive opportunity for the criminal fraternity to scam savers out of some, or all, of their accumulated retirement savings.
Some investors holding money with Blackmore Bonds are yet to receive July interest payments, despite the firm’s insistence all funds have been transferred and cleared. One such investor has told Money Marketing they have been “ignored” by Blackmore. Chief executive of the mini-bond provider Patrick McCreesh told Money Marketing this week that some investors holding Isas […]
Rebates have been confirmed as taxable this month, in the long-running clash between Hargreaves Lansdown and HMRC. This effectively confirms “superclean” share classes are the most tax-efficient mechanism for delivering preferential rates on funds, rather than the oxymoronic “clean with rebates”. Asset managers will be very reluctant to implement multiple share classes at varying prices […]
Collapsed Sipp administrator GPC Sipp has nearly £1m in debts owed to creditors according to a statement of affairs document published on Companies House. It shows there is a shortfall of £964,832.00 owed to creditors and most of the Sipp shares are owned by managing director Kathryn Taylor who holds 73 shares. The others are […]