The Financial Services Compensation Scheme is processing 501 claims against Berkeley Independent Advisers, 354 of which relate to endowments. Berry Birch & Noble Financial Planning (Weston) has now been declared in default by the FSCS, with five claims against the firm.
Hiscox insurance portfolio manager Alec Foster says the 68m fund’s recent performance has been driven by the benign US hurricane season. Foster says many insurers took evasive action after destructive hurricane seasons in 2004 and 2005 by increasing premiums. The 32-stock fund has a 40 per cent weighting in reinsurance and Foster says it has […]
Edward Jones has restructred its UK operation dividing the group into five regions with dedicated leaders. The five regions are Scotland and Northern Ireland, the North, Midlands and North London, East Anglia and the South. The US firm has 200 investment advisers across the UK. Edward Jones UK principal Tim Kirley says: “Our philosophy is […]
The DTI has laid regulations to remove audit requirements for small regulated firms and appointed representatives after an FSA study. The new regime comes into force in November and the FSA estimates it will save firms £15.25m, with the biggest beneficiaries being financial advisers.
SVM Asset Management is launching the all Europe Socially Responsible investment (SRI) fund on October 31.The fund will be run by SVM Continental Europe manager Hugh Cuthbert and SVM UK opportunities manager Neil Veitch and will adopt a ‘positive screening’ approach to investing by engaging with companies rather than ‘negative screening’ which automatically excludes many […]
The global economy isn’t headed into recession, at least not yet. This month, David Lafferty, Chief Market Strategist at Natixis Global Asset Management, examines current capital market and portfolio risks for signs of recession. Click Here for Capital Market Notes
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It is encouraging to see the FCA close in on lazy fund management, but more needs to be done Without fanfare, the FCA has confirmed its intention to punish lazy fund management. Several groups have been persuaded into voluntarily compensating investors who bought their beta-posing-as-alpha products, otherwise known as closet trackers. The regulator suggests that […]
Ex-GBST man and FinoComp chief executive Ray Tubman on the need for a brave new world of interoperability Platforms running on proprietary technology often see this as a competitive advantage, even if it is expensive to run. But ex-GBST man and now FinoComp chief executive Ray Tubman does not believe outsourcing is the poor relation. […]
Ahead of speaking at Money Marketing Interactive in May, founder and director of The Yardstick Agency Phil Bray gives tips on how advisers can improve their public image and why the FCA should rethink their plans for the register On a scale of 1 to 10, how optimistic are you about the advice market for […]