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Profits down at Rathbone Brothers

Discretionary investment management and private client services group Rathbone Brothers saw its pre-tax profits fall 21 per cent to £11.2m in the six months to June 2001, from £14.2m for the same period last year.

But the group saw funds under management increase by 20 per cent to £6bn from £5bn a year ago.

Rathbone Brothers chairman Micky Ingall says: “Stockmarkets remain weak but the underlying business is growing and I am confident that when stability or, dare I say, growth returns to the market, this underlying strength to our business will show through.”


Merrill Lynch grows PIPs

Merrill Lynch HSBC, the online financial services company, has designed a capital protected bond linked to the FTSE 100 index over a five-year term.The FTSE 100 growth protected investment product (PIP) is the company&#39s third PIP, but it covers different ground compared to the previous ones. The first PIP was linked to four stockmarket indices […]

Minister credits industry

The Department of Work and Pensions is likely to make significant changes to the proposed pension credits in response to industry consultation. The pension credits, announced in November last year, are planned to ensure it always pays to save into a pension even for low-earners who could expect to benefit from the minimum income guarantee. […]

FundsNetwork increases partnerships

Fidelity&#39s FundsNetwork has signed white-labelling deals with online bank Smile and IFAs Allenbridge and Rosan Helmsley. The move brings the fund supermarket&#39s white-labelling partners to 11.Fidelity is also adding two new fund groups to the platform. Gerrard Investment Funds and First State Investments take the total number of providers to 36, offering more than 525 […]

Chelsea Building Society – Call-Direct 30 Account

Thursday, 6 September 2001.Type: High interest account.Minimum-maximum investment: £2,500-£250,000.Interest rate: 5.75 per cent gross a year.Term: None.Offer period: Until further notice.Withdrawal penalties: 30 days&#39 notice or 30 days&#39 loss of interest.Tel: 0800 344504.

Stop the cold-calling

Royal London is pleased to support the petition calling for a ban on cold-calling for pension and investment products. The petition, launched by IFA Darren Cooke of Red Circle Financial Planning and hosted on the Parliamentary website, calls on the Government to ban cold-calling for pensions and investment products. A similar ban is already in force […]


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