View more on these topics

Porteous dismisses claims on price levels

Growing concerns that house prices are nearing unsustainable levels have been rubbished by RBS senior economist Stuart Porteous.

Porteous&#39 claims go against those made by several fund managers and analysts, who expect to see a dramatic crash in the housing market in the next two years.

Before we witness a dramatic decline in the UK property market, Porteous told the summit that interest rates would have to rise sharply and unemployment would have to rocket.

Both of these are tipped to occur but Porteous does not believe they will be to the extent that it would have a significant knock-on effect on the housing market.

Porteous acknowledges that first-time buyers are struggling to put together large deposits, which may be contributing to the gradual slowdown in the market.

He said the margin between those renting and property owners is vast and will take years to close up.

On the conflicting opinions between the mortgage industry and the City about the prospects for the market, Porteous said: “Some people in two years time will be eating their hats.”


Jefferson joins Henderson

First State head of UK and European retail sales Phil Jefferson is joining Henderson Global Investors in a similar role. He will be reporting to UK and Asia managing director Mike Clare.The position has been vacant since Simon Ellis departed for Axa Investment Managers at the beginning of the year.

Churchill to leave Zurich

Lawrence Churchill is stepping down as chief executive officer of Zurich Financial Services UK, Ireland and international life business. Until a replacement is found his responsibilities will be covered by Zurich chief executive, global life insurance business Paul van de Geijn. Van de Geijn says: “I thank Lawrence for his leadership at an important juncture […]

61% of advisers say FSA struggling to do its job

The FSA once more received a vote of no confidence last week as 61 per cent of advisers indicated they believe the regulator is struggling to do a good job. Results from a poll of 600 advisers at the LIA conference revealed that there is still deep dissatisfaction with the regulator in light of the […]

Inter look for further capital and cost cutting

Inter-Alliance has indicated it will need to find alternate ways to raise capital following yesterday announcement that merger talks with Berkeley Berry Birch had collapsed. The company says it is pleased with progress made in improving its operating loss but that further “cost saving initiatives across the Inter-Alliance Group” were necessary. It says it now […]


Guide: 10 required letters — what to send, to whom and when?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. The topics in this guide include: the letters you need to send out; what to send and when; the importance of employee engagement; and what to consider as additional communication.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm