View more on these topics

Review of 2004: Investment

Yet another Government savings initiative slipped into freefall as the Chancellor managed to ruin what was a successful product by stripping away some of the reasons for people buying them. Isa sales fell off a cliff, with the first-ever month of net redemptions.

Never mind, what he takes with one hand, he gives with another. The Chancellor’s new tax breaks for VCTs provided considerable excitement and then embarrassment as they failed to inspire the public to part with billions, as the industry had seemed to expect. Several high-profile groups rushed out products only to struggle to raise enough cash to get the things off the ground.

Fidelity continued to dominate fund sales but plucky New Star, which passed its third birthday, gave the giant a run for its money, beating it in several months.

Another relative toddler, Skandia Investment Management leapt to the top of the multi-manager tree, outselling more seasoned players such as Jupiter and Hendersons.

Recommended

Scottish Provident CII cover rates are reviewed

Scottish Provident has adjusted its premium rates on death or earlier critical illness and standalone critical illness self assurance plans.Price sample:Death or earlier CII (not TPD), 100,000 sum assured, male non smoker with guaranteed rates.35 years old nb, 15 years term would now pay 29.90 per year, a saving of 1.66.Abbey for Intermediaries director Ambrose […]

FOS must strike right balance

When Walter Merricks comments: “The rise in mortgage endowment complaints to the FOS is not necessarily a drive to higher standards by firms but a minimising of their payouts,” I presume this is based on facts – but even if only on hearsay, what about the percentages also given in this article?Twenty per cent of […]

Digest

LSE turns down £1.35bn offerThe London Stock Exchange has turned down a £1.35bn offer from German rival Deutsche Bourse. The LSE says the offer undervalued the business but it will continue to hold talks with the Frankfurt-based operation to see if an improved offer is likely.

Review of 2004: FSCS

What was the biggest headache for IFAs in 2004? With professional indemnity premiums dropping, it has to have been the unprecedented rise in FSCS costs which soared by up to 1,000 per cent for some advisers.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com