UBS is acquiring wealth manager Laing & Cruickshank from Crédit Lyonnais for around £160m. The wealth management service will approximately grow £5bn client assets and 75 advisers to UBS's present £5bn client assets and 100 advisers in its four-year-old UK business. Subject to regulatory approval the deal is scheduled to be finished in the second quarter of 2004.
Estate agency Jackson-Stopps and Staff has added its support to sellers' packs group Splinta who are campaigning against the packs. The company says it has reached the conclusion that the home condition report contained in the home information pack is totally inappropriate for the type of property the firm deals with.
There have been numerous attempts at replacing with-profits bonds. The product I like best is from Keydata. Its UK protected growth plan is totally transparent and is already winning much praise from leading investment IFAs. Best Invest's John Spiers, who I greatly respect, says: “This novel product could be the 21st Century's replacement for with-profits, […]
”I'm sorry, have you got to go now? Can't I bore you about how brilliant our mortgage is for another 10 minutes?” – Norwich & Peterborough press chief Alison Rolls. ”I'm just licking my lips because he is about to open a bottle of sour cherry vodka.” – HSBC Asset Management PR Dolly O'Neill on […]
The year has started with optimism that things will get better as markets become more buoyant. But for the financial services market to seize the opportunities that this optimism brings, it must encourage customer confidence. This is tricky to achieve when customers are asking themselves who they should trust as the FSA fines high-street names. […]
Matt Shafer, head of international distribution at Natixis Global Asset Management, tells Ignites Europe how he sees distribution changing in different European markets. Read the full article here:
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The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]