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The Wells Street Journal: Suspiciously cheap advice and Theresa picks up a spade

Money Marketing’s diary page, with a weekly account of the curious goings-on in the world of financial services

The name’s Bond…

Columbia Threadneedle has a director of responsible investment portfolio management, and the name’s Bond, Simon Bond.

WSJ can only imagine he goes around Europe foiling investment managers with cunning plans to hold world governments to ransom with short-term horizons and investments in natural resource stocks.

His own stock is on the rise, as Columbia informed us in a press release pointing to a “surge in bond issuance”. But Bond is not just an ethical policeman.

He also manages the Threadneedle UK Social Bond fundand the Threadneedle (Lux) European Social Bond fund. Bond by name, bond by nature. We are looking forward to such corporate video hits as Gold(rated)finger and Diamonds Are Forever (unless we need to rebalance).

Really, RBS?  

RBS made quite a splash last week, proudly declaring that it would be the first UK bank to offer robo-advice that actually gave, erm, actual advice. That is: in the regulatory sense of a personalised recommendation by a qualified individual, of course. How much is it all going to cost?  £10.

In RBS’ words: “If customers choose to make an investment, there’s a £10 charge for the advice and the personalised report.”

That’s pretty cheap. Suspiciously cheap, you might say. “Have to get new glasses.” IFA Nick McBreen wrote on Twitter. Fellow IFA Richard Ellis pointed out that this was the same bank that told us to “sell everything” last year.

Anyway, we look forward to seeing the full fund charges.

 Out of context

“I have made it my mission to build the homes the country needs”

Theresa May says she is taking ‘personal charge’ of the UK’s housing policy ahead of the Budget.

“1825 is just a pain in the arse”

An adviser suggests that the newly merged Standard Life Aberdeen might not be too happy with its advice arm.

“I mean, it could have been called QI”

An Old Mutual staffer is confident rebranding as Quilter won’t be confusing for an investment company.


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