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Mercer sets up Myners-style advice fee

Mercer Investment Consulting has set up a performance-related fee arrangement for advising on the Caterpillar Pension Plan, in response to recommendations from Myners. The new contract, which follows a full assessment of Caterpillar’s investment arrangements, covers both manager selection and strategic advice. Advice given to trustees by investment consultants in the past has not been formally measured. But Myners recommended trustees arrange a formal assessment of their advisers’ performance.

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Derbyshire buys Skipton loan portfolio

Skipton Mortgages, part of Amber Homeloans, has sold a 600 strong mortgage portfolio valued at almost £40 million to Derbyshire Homeloans. Specialist lender Amber, which is part of Skipton Building Society, says portfolio sales are a key part of its strategy and now it has completed its first portfolio sale to Derbyshire it hopes to […]

Darling reveals plan for price-cap pension family

The Department for Work and Pensions is planning a new range of price-capped regula-ted pension products which can be sold direct without advice.Speaking to Money Marketing at the NAPF Conference in Brighton last week, Work and Pensions Secretary Alistair Darling said the new products would be price-capped as the 1 per cent cap on stakeholder […]

Inside edge:

“We&#39ve got really nice brochures.”“Our buildings are very tall and in lots of different cities.”“Here&#39s a picture of a man with a computer and glasses on. Believe me, we are all very bright.” One year from now, these are the sort of bold advertising straplines that we will all be brainstorming as we contemplate trying […]

FSA launches investigation into split caps

The FSA has announced it is to investigate specific cases of alleged collusion in the split cap sector, start enforcement proceedings on marketing material , and investigate the possibility of misselling by advisers. FSA managing director John Tiner says: “It is important to recognise that while a minority of funds have created a contagious cocktail […]

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