View more on these topics

Tenet and Leeds Building Society link for overseas advice

Tenet has teamed up with Leeds Building Society to expand the society’s overseas business model.

The society’s new subsidiary Leeds Financial Services Overseas will work with Tenet as an appointed representative to grow its services to clients in Southern Spain and Gibraltar, with plans to expand into other European countries at a later date.

Tenet has received permission to passport insurance mediation services through its Interdependence network, which will support LFSO.

Leeds BS has had a branch in Gibraltar since 2003 and has since built up a client base through its branch-based products. It also offers Sterling and Euro mortgages to UK residents, UK ex-patriates and Gibraltarians looking for holiday homes, second homes or permanent residences.

It says demand has led to its lending service expanding into Costa Del Sol, Costa Brava, Costa Blanca, Canary and Balearic Islands.

Tenet group distribution and development director Keith Richards says: “The potential market for professional financial advice abroad is one that has yet to be capitalised on and we are delighted to be supporting Leeds Financial Services Overseas in this exciting new initiative. Tenet’s innovative approach for LFSO will form a base from which it will be able to offer services to advisers operating elsewhere in the EU.”

Leeds Financial Services Overseas chairman Kim Rebecchi says: “We have launched this service to meet the demand for a UK standard Financial Planning service, which is regulated by the FSA in the UK and FSC in Gibraltar, and we have a fully qualified Financial Planning Manager based at our Gibraltar branch. We also plan to be able to provide the expatriate community in Spain with access to this service when MiFID is introduced later this year.”


Phizackerley ruling will effect all trusts making loans to beneficiaries

The recent high profile Phizackerley ruling on inheritance tax and will trusts has far-reaching implications for all trusts making loans to beneficiaries, warns Skandia.Although the Phizackerley case involved the use of a share in the family home within a will trust, Skandia says the same principles can also be applied to any trust arrangement where […]

Aegon looks for wider margins

Aegon UK says it plans to diversify into highermargin products and add scale by penetrating new distribution channels. It says it is currently ahead of its 2010 target plans to achieve a value of new business margin of at least 20 per cent and an overall market share in life and pensions of at least […]

Will the walls come tumbling down?

The forthcoming closure of one of the oldest retail technology funds in the UK market, Aegon technology (formerly known as Scottish Equitable technology) brings to mind the old debate of whether tech was really the investment of the future or simply a marketing gimmick.

‘Absolute returns the next big thing’

Gartmore deputy head of multi-manager Marcus Brookes believes that 130/30 and 140/40 funds are likely to be the next big fund trend.Brookes says the wider adoption of Ucits III and Nurs has given providers a number of different strategies to successfully run an absolute return offering.He says: “In the pre-Ucits III days, providers were restric-ted […]

 Article 50 Q&A: The negotiations to watch for 

Holly Cassell, Assistant Manager of the top-performing Neptune UK Mid Cap Fund, discusses the potential near-term impact of Article 50 and the Brexit negotiations that she believes investors should pay most attention to. Read article here Important information  Investment risks  Neptune funds may have a high historic volatility rating and past performance is not a […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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