The terrorist attacks on New York may slow the UK housing market more than previously forecast, the Council of Mortgage Lenders is warning. Director-general Michael Coogan says the trade body may have underestimated the impact of the terrorist atrocities due to the continued strength of mortgage lending, which hit a record high last month. He says the CML now expects the market to slow next year as the fallout on the economy and consumer confidence begins to make an impact.
IFA retirement specialist firm Wentworth Rose has appointed Malcolm Thomas as head of pensions, the second recruit from Towry Law in the last month. Thomas joined Hogg Robinson in 1994 and moved to Towry last year as sales manager leading its retirement advice teams. Towry is requiring board director Tudor Taylor to honour his contract […]
Michael Bolton is not a man known for his reluctance to express an opinion on anything from the future of securitisation to the comeback of the mini-skirt. Something of a character in a market beset with blandness, the “Big Bopper” (watch the man dance) has risen up the ranks with a refreshing lack of verbal […]
The PIA has suspended the investment business of IFA Complete Financial Services of Hillside, Bishops Walk, Shirley Hills, Croydon because it has failed to comply with an award made against it by the ombudsman.The award was made in August and the firm is contesting the decision and has failed to offer redress to the complainant. […]
Schroders has appointed Lucy Colback as the new manager of its Global Emerging Markets fund as the first step in an overhaul of the fund. Colback, who takes over from Giles Neville, will now restructure the fund under a more aggressive mandate, firstly trimming the number of stocks to 130 from 150. Colback has worked […]
Jelf Employee Benefits explores the draft Income Tax (Recommended Medical Treatment) Regulations 2014 and why intervention is such an important aspect of absence management.
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Providers are reviewing their marketing packages to advisers at conferences and on websites amid concerns they will fall foul of new inducement rules under Mifid II. Mifid II, which came into force on 3 January, brought in more stringent rules around “non-monetary benefits” from providers to advisers. The rules have been translated into the FCA conduct of […]
A misleading headline rate of unemployment means opportunities are being overlooked by investors
The FSCS is budgeting an extra £3.5m to cover the cost of running the scheme this year. The management expenses levy, which is used to cover the cost of administering the scheme separately from any compensation payments made, proposed for 2018/19 by the FSCS today is £77.7 million, up 5 per cent on the previous […]