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Ex-FOS deputy Tony Boorman joins compliance firm


Former Financial Ombudsman Service deputy chief executive Tony Boorman has joined regulatory and compliance consulting firm Promontory Financial Group.

Boorman is taking up the role of senior adviser in the firm’s London office.

His initial focus will be working with clients facing a range of consumer protection issues, in particular relating to customer redress and complaints.

Boorman stepped down from his role at the FOS in November and took up a non-executive directorship at trade body the Peer-to-Peer Finance Association. He will retain this role alongside his full-time position at Promontory.

Boorman took on the role of interim FOS chief executive between January and July last year, following the departure of Natalie Ceeney.

Former FOS principal ombudsman and legal director Caroline Wayman was appointed chief executive of the organisation in July.



Investment trust purchases hit record £125.3m

Adviser firms have piled into investment trusts with purchases through platforms reaching a record £125.3m in the first quarter of this year, according to data from Matrix Financial Clarity. The record figure represents a 14 per cent increase on Q1 2014. Annual purchases also reached a new high of £468.6m for the 12-months to the […]


7IM close to takeover deal with Caledonia

A takeover of Seven Investment Management by Caledonia Investment Management is just weeks away, according to reports. The £9bn wealth manager is in advanced talks with Caledonia over the proposed acquisition, reports Sky News. More than half of 7IM is owned by Aegon and Zurich Insurance, which Caledonia would be purchasing, with the remainder of […]


Hornbuckle and Pru launch new Sipp

Hornbuckle and Prudential have launched a new Sipp that combines the PruFund range of funds with full access to the new pension income options. Clients will be able to switch between the range of PruFunds and have the option of adding capital guarantees. The Sipp will allow access to the new pension income options, flexi-access […]

Apple: a stellar technology story

By Ali Unwin, head of technology sector research

Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.

At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.

Global income: preparing for a rate rise…

In the five years since we launched the Artemis Global Income Fund, its manager Jacob de Tusch-Lec has built a distinctive portfolio that is first among its peers. Here he explains why his “quality, cyclical and value yield” stocks, and flexible approach, leave the fund better placed to benefit from uncertainty than funds that depend […]


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