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Schwab sets up B&B system for brokers

Charles Schwab has set up a system for intermediaries to carry out bed-and-breakfast deals on behalf of clients.

Bed and breakfasting – selling shares and buying them back the following day – is a common way for investors to realise their annual capital gains tax allowance, currently £6,500. Schwab is offering intermediaries a flat fee of £5 for repurchase of equities.

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Charcol may seek buyer after split with Private Label

Mortgage broker John Charcol is considering listing on the Stock Exchange or seeking a buyer within two years after splitting from Private Label. Charcol and Private Label, which have been part of Mortgage Group Holdings for eight years, demerged through a share swap last week. Charcol intends to embark on a strategic review of its […]

Virgin can teach AMP new tricks

One of the AMP&#39s most ambitious strategies as part of its effort to become a truly global player is its big investment in Richard Branson&#39s Virgin brand. AMP has six million customers, £50bn under management and makes more than £1bn a year profit yet it saw a future in making an alliance with a minion […]

Offices get merger or closure warning

Life offices face the prospect of merging or closing as the UK marketplace gets increasingly competitive, claims a new report. Insurance management consultancy Winchester White&#39s latest Marketwatch report says some companies will find themselves unable to live up to the task of becoming low-cost operators while developing simple innovative products. It warns that companies must […]

Hill Samuel sees healthy future for British Pep

In the expectation that the UK&#39s biggest companies will continue to outperform the FTSE All-Share index, Hill Samuel Asset Management has launched the British Pep. The Pep is based on its long-established British Trust and includes holdings such as Glaxo, HSBC and Barclays Bank. Hill Samuel says it is currently bullish about UK equities and […]

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