Brokers say its four main lending brands – RBS, First Act- ive, One Account and NatWest – need better definition to compete in the intermediary market.Group earnings were 6.9bn for the year to December 2004 and RBS Group vowed to challenge industry giants such as HBOS for market share. But brokers say it has a less clear vision of its components while the HBOS brands – particularly Halifax and BM Solutions – are successful in their own right. Savills Private Finance managing director Mark Harris says: “I suspect they are looking at a strategy to reaffirm the brands or perhaps be looking at creating a fifth intermediary-focused brand. As it stands, the brands are a little jumbled.” Hamptons International Mortgages technical director Jonathan Cornell says: “You do not need four brands to do the same thing. The group has a huge appetite to do more business to challenge HBOS but you have got to grow a lot more to do that.” First Active and One Account were unable to comment.
UK house price inflation is down to 4 per cent, its lowest since 1996, according to the OPDM.The Royal Institute of Chartered Surveyors notes that the Q2 inflation rate has dropped from 14.3 per cent last year, saying the market has been slowing for almost 12 months. House prices have risen 170 per cent since […]
Scottish Life has appointed Mark Polson in the new position of head of corporate business. Polson joins the pensions arm of Royal London with immediate effect, and will see him taking on responsibility for corporate pensions.Scottish Life says the appointment reflects its strategy to grow and develop this area through the UK independent intermediary market. […]
Legal & General is offering a sixth tranche of its protected capital growth plan, with returns linked to the performance of the FTSE 100 index. The product, which runs for six years, offers a minimum of 21 per cent growth or 50 per cent of the rise in the FTSE 100 if this is greater. […]
Morgan Stanley Quilter is launching three new portfolios within its managed portfolio service. The three new portfolios are adventurous, distribution, and cautious, adding to the firm’s growth, balanced and income portfolios. Morgan Stanley Quilter managing director Stephen Vakil says the firm has seen increased demand for both more aggressive and more cautious portfolios.Charges are 1.35 […]
The latest update from the Sustainable Investments Team at Royal London Asset Management, Responsibility Matters, is now available. In this edition the team look at issues such as the growing acceptance of sustainable investing and technology in China. Read the update here: The value of investments and the income from them is not guaranteed and […]
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Workplace savings and pensions business Punter Southall Aspire is to acquire Oxford-based IFA Focus Oxford as it outlines its ambition to set up a national advice service. The acquisition is part of the firm’s plan to integrate its retail advisory arm and corporate business. Focus Oxford has £200m of assets under management and the deal […]
Several independent boards of Baillie Gifford’s investment trust clients have written to the FCA about concerns with new Priips key information document rules. Baillie Gifford’s concerns relate to disclosure rules for the documents. It says these are based on past performance and could lead to investors being misled. Baillie Gifford compliance and legal partner Graham Laybourn […]
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