IFA brands RJ Temple and Berkeley Wodehouse will disappear this week as Lighthouse implements its group rebrand.The new names will be Lighthouse Xpress – the appointed representative network which has 350 registered individuals, Lighthouse Temple – the national IFA with 150 RIs and Lighthouse Corporate – its partnership arm. The group is launching a new IFA – Lighthouse Wealth – based at the City of London branch which will specialise in high-net-worth clients. All four arms of the group now carry the Lighthouse brand name, giving it a stronger presence in the industry, says chief executive Malcolm Streatfield. In 2002, Berkeley Wodehouse Associates saw a large number of the defunct Can- ada Life salesforce joining its team. RJ Temple was forced to fold in July 2003, owing more than 1.5m to its creditors. The firm’s advisers were sold on to Lighthouse but its liabilities were passed back to the Financial Services Compensation Scheme in what is understood to have been a record burden on the compensation scheme. Lighthouse bought collapsed IFA RJ Temple in 2003, acquiring 150 advisers and its client base of around 250,000, trading as appointed reps of the BWA network. Streatfield says: “All four subsidiary brands will now lead with the Lighthouse name. This should give us much stronger brand recog-nition in the market. We gave members six months notice to wind down their stationery supplies and so on. It will now be business as usual.”
Tory backbencher Gregory Barker has tabled three written questions to Parliament about the the FSA, asking about future plans for reform, staff expenditure and malpractice. Treasury economic secretary Ivan Lewis said that apart from the complaint received by the Parliamentary Ombudsman alleging maladministration in respect of the prudential regulation of Equitable Life, there have been […]
Ethical investors are burying their heads in the sand when it comes to investing in oil and China, says Ecclesiastical Insurance Group. Manager of the firm’s 50m ethically screened Amity fund Sue Round says it will take a decision on whether to inv- est in oil by the first quarter of 2006 and the firm […]
Structured product provider Dawnay Day Quantum has introduced two capital-protected bonds that are linked to a basket of eight industrial metals and energy-related commodities.
Furness Building Society is moving into the non-conforming mortgage market with a distribution agreement with Mortgages plc. Furness will market the entire Mortgages plc product range to intermediaries using jointly branded marketing and promotional material.
Jim Grant – Senior Product Insight & Technical Support Analyst There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA. The money purchase annual allowance (MPAA) is a reduced annual allowance that can apply to contributions to defined contribution (DC) schemes. The following table […]
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
BMO Global Asset Management fund manager Robert Burdett has more than halved the exposure to passive funds in most of the multi-manager funds amid fears of a bubble in the market. Burdett, who co-manages the £1.2bn F&C MM Navigator Distribution fund with Gary Potter, says the team has been cutting exposure to passive funds across […]
Opinion differs as to what has caused the advice gap. Some believe the move from commission to fees has made advice unaffordable for the mass market, with advisers having to focus on wealthier clients for commercial reasons, while others say the trend was happening anyway, regardless of the RDR. For Simplified Money director Lesley James, […]
Sales of protection policies are back at peak levels, with the sector growing by more than 20 per cent in the past year, despite adviser complaints over protection’s lack of popularity. According to the latest figures from Equifax Touchstone, sales of protection policies surpassed £149m between July and September this year — their highest level […]