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Schroders top the wealth league in financial sector

The Schroder family has maintained its position as the top retail financial services&#39 presence in the 2004 Sunday Times Rich List of the 1,000 richest people in the UK.

But Bruno Schroder and family dropped to 27th place from 24th last year even though their fortune increased to £1.15bn from £893m in 2003.

Rothschild Asset Management chairman Sir Evelyn de Rothschild and family are in 66th place with £560m, up from 95th and £345m last year. Rothschild recently stepped down as chairman of the merchant bank last month.

Sir Martyn Arbib, who sold fund company Perpetual in 2000 for over £1bn has dropped to 172nd place from 131st while increasing his fortune marginally to £257m from £255m. Arbib is two places ahead of New Star chairman John Duffield, whose worth has risen to £256m from £220m.

American Martin Finegold, with £51m and a £41.2m share in specialist mortgage provider Kensington Group was a new entry at 769th.

Mike Edge, co-founder of Chase de Vere Investments, with a fortune of £50m, slipped to 777 from 689.

The co-owners of Bristol IFA firm Hargreaves Lansdown, Peter Hargreaves and Stephen Lansdown, dropped out of the list after entering it for the first time last year in joint 956th place.


Fidelity offering £50 per account to consolidate on FundsNetwork

Fidelity is upping the ante in the fund supermarket battle for assets by offering IFAs and their clients financial incentives for re-registering investments on its platform FundsNetwork. In a move that the group says is designed to offset some of the costs of consolidation, Fidelity will pay IFAs £50 and their clients £25 for each […]

NU says strength comparisons are misleading Govt move to change wind-up priority

The Government says its decision to change the priority order on pension wind-ups will help to ensure that pension savers do not lose all their entitlements if their scheme goes bust. Under pressure from backbenchers calling for compensation for 60,000 wind-up victims, the Government has said it will bring in laws to ensure that pension […]

Out of context

•”I have to save the world, I&#39m Penrose, McFall and King Arthur all rolled into one.” – Alan Steel Asset Management director Alan Steel. •”If I was any better at writing, I&#39d be a journalist.” – Chelsea Financial Services managing director Darius McDermott on filing a column in record time. •”I&#39m very good at saying […]

Charcol relaunches Fed loan at 2.99%

Charcol is relaunching its federal reserve tracker mortgage. The mortgage is based on the lower US short term interest rates. The IFA says it will offer the product at an initial rate of 2.99 per cent until the end of September, after which the mortgage will track the US dollar three month Libor plus a […]

India: are further rate cuts on the horizon?

By Kunal Desai, head of Indian Equities, Neptune Kunal Desai, manager of the Neptune India Fund, discusses the key drivers of the Indian market’s outperformance and why he expects another rate cut, which will likely further support equities.  Read more here Important Information Investment risks The Neptune India Fund may have a high volatility rating […]


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