Financial Advisor back issues from March 2007:
Skandia adds Maple to Asian equity range.(Skandia Investment Management hires Maple-Brown Abbott to manage its fund)(Brief article)
Mar 01, 2007 ... Skandia Investment Management has added Maple-Brown Abbott to its multi-manager range. This has prompted the Australian-based investment management company to reallocate assets across its portfolios, but without directly replacing any existing managers. The firms ...
Fidelity Int'l continues expansion.
Mar 01, 2007 ... Fidelity International has appointed Brian Boyd as business development manager, as part of a continuing, international expansion of its multi-manager team. The expansion of Fidelity's multi-manager business began in September last year, when it launched a dozen multi-manager ...
Northern Trust brings in Swip to man flagship fund.
Mar 01, 2007 ... Scottish Widows Investment Partnership has been appointed by Northern Trust Global Investments to manage its AGBP165m flagship multi-manager fund. The fund, which is a sub-fund of the Northern Trust Multi-Manager fund and is named the NTMF UK Equity fund, will be managed by ...
Advantage to give Wilson the credit for underwriting, risk monitoring.
Mar 01, 2007 ... Byline: Mutual One appoints Dearing to promote benefits of sector Skipton Building Society has appointed Philip Dearing as managing director of Mutual One. The group was set up at the end of 1998 as a joint venture between eight building societies to help smaller ...
FSA defends stance on 'unlawful' listings plan.
Mar 01, 2007 ... Byline: AIC claims two-tier listing plan is unlawful, but retail policy man defends policy Regulation There are significant attractions for a single set of listing rules for all investment companies, a senior FSA official has conceded, despite the regulator's ...
Drop two-tier investment scheme: McFall.
Mar 01, 2007 ... The FSA's proposals for the two-tiered regulation of investment companies could open a regulatory gap larger than the one that allowed the split cap crisis to develop, a senior politician has warned. In a letter to the regulator, John McFall, chairman of the influential ...
Keeping your p*ssport safe.(Brief article)
Mar 01, 2007 ... Keeping your p*ssport safe One football fan lost his chance to witness Liverpool's demolition of Barca last week. Scott Mowbray, of Virgin Money fame, was supposed to be taking two lucky journalists to Barcelona for the crucial Champions League game. Unfortunately, ...
Advice is a weapon of mass destruction?
Mar 01, 2007 ... Never say advisers do not have a way with words. Or no sense of dramatisation, for that matter. Livid with Standard Life for recently releasing an exclusive Sipp to HSBC for direct sales purposes, adviser Jonathan Fry did not refrain from making his feelings known to Insider. ...
Winning a battle, losing the war.
Mar 01, 2007 ... Byline: The Isa changes go some way to addressing investor grievances, but its failings have strong tax implications How will the new Isa changes affect your customers? Chancellor Gordon Brown used his 6 December Pre-Budget Report last year to confirm that Isas are here to stay, ...
We've come a long way, baby.
Mar 01, 2007 ... Byline: After being started by Gordon Brown Isas are nearing their 10-year anniversary, and are set for a busy year A lot happened in 1987. Financial Adviser graced the industry with its presence and Nigel Lawson paved the way for Isas. A lot has happened since and some argue ...
The Trojan horse.
Mar 01, 2007 ... Byline: If the industry knew the full implications of the shift to principles-based regulation it would not welcome it The warm response from the industry to the FSA's news that it plans to shift away from rules-based regulation to a more principles-based approach can only ...
Are friends electric?
Mar 01, 2007 ... Byline: Technological advances have opened up the non-conforming mortgage sector to advisers and clients alike Perhaps George Orwell's predictions for the year 1984 were a couple of decades too soon. Why say this, you ask? Well, in 2005, for example, we saw a significant ...
Paying out for the sins of others.
Mar 01, 2007 ... The recent publication of the 2007/ 2008 budget for the Financial Ser- vices Compensation Scheme is a good reminder of why there is a desperate need for some innovative thinking. The current arrangements are unsustainable and both the FSCS and the FSA need to be looking to ...
Who is fairest of them all?
Mar 01, 2007 ... Byline: The industry needs to wake up to the fact giving customers external links to funds may not fall within TCF Treating customers fairly - funny we should have to talk about that but no doubt this will be the theme for many years to come. It is with that in mind that I ...
Power to all people.
Mar 01, 2007 ... Byline: Shifts in the global market are helping to reduce the wealth imbalances of old - not exaggerating them I've got loadsamoney," said Harry Enfield's TV character during the late 1980s. But he did not stay around forever. His stereotype was killed off by the 1990s, but it ...
Film investment tax breaks are 'not enough to curb risk'.
Mar 01, 2007 ... n INvestment A new trend in film company enterprise investment schemes is not for the faint hearted, advisers have warned. Since the chancellor's film industry tax breaks, investment firms of all shapes and sizes have brought EIS offerings to the market. The ...
Mortgages.(Buyers guide)
Mar 01, 2007 ... Buy-to-let Mortgage Next Type: Buy-to-let tracker Description: Funded by West Brom for intermediaries, this five-year buy-to-let tracker mortgage is offered for a maximum loan-to-value of 85 per cent. The initial rate is 5.95 per cent, Bank of England base ...
Unfair dismissal cases can be a threat to SMEs, claims DTI.
Mar 01, 2007 ... In a litigious society SMEs must protect themselves during, and take action to prevent, unfair dismissal cases, according to the DTI. From February, payments awarded to successful unfair dismissal claimants have been increased by AGBP200 to AGBP4200 for basic awards, and from ...
Capitalise on IHT, Zurich urges IFAs.
Mar 01, 2007 ... Almost two-thirds of IFAs consider themselves knowledgeable on inheritance tax planning, research has revealed. However, according to the results of the survey conducted by Zurich, IFAs believe that almost three-quarters of their clients do not understand how IHT might affect ...
IFAs fear threat to business from FSA reviews - Aegon.
Mar 01, 2007 ... Regulation One-fifth of IFAs see the FSA's retail distribution review as a threat to their business, research has shown. A slightly higher proportion of IFAs interviewed by Aegon said they did not know what the impact would be. However, 55 per cent were ...
Sipp provider playing field is 'not level' due to regulation gap - Moret.
Mar 01, 2007 ... Newly regulated self-invested pension plan providers will not give consumers the same level of protection as life companies, according to Suffolk Life. John Moret, director of sales and marketing for Suffolk Life, said that a gap in the regulation meant the playing field for ...
DCLG defends shared equity after slow start.
Mar 01, 2007 ... The department of communities and local government has defended its shared equity home ownership scheme, after reports that only 100 first-time buyers have used the service. Lester Posner, a spokesman for the DCLG, confirmed that 100 people had used the scheme to buy equity in ...
FSA warns on income withdrawal.
Mar 01, 2007 ... Byline: Watchdog warns small firms to look at business practices after its review fines three firms for mis-selling Regulation The FSA has asked small firms advising on income withdrawal to review business practices, after a review which has seen the regulator ...
NU trail aims to entice IFAs to property fund.
Mar 01, 2007 ... Norwich Union has introduced trail commission on a property fund in a bid to expand its retail sector share. David Hewison, collective investment development manager for Norwich Union, said that he hoped the move would attract more customers through IFAs. Since its launch in ...
Default option will be too hard to find: NAPF.
Mar 01, 2007 ... Byline: The delivery authority has no standard in the market to follow, claims NAPF pensions When the delivery authority comes to design a default fund for personal accounts it will not find a single standard template in the market, the National Association of ...
Postpone Hips until tried and tested: CML.(Council of Mortgage Lenders on home information packs)(Brief article)
Mar 01, 2007 ... The Council of Mortgage Lenders has called for the implementation of Hips to be postponed until "they have been properly trialled and tested". The announcement follows the government revealing it will launch a consumer campaign to inform households about home information packs ...
CI providers are 'mugging' clients - website.
Mar 01, 2007 ... Consumers are "getting mugged" by critical illness providers that use non-disclosure to turn down claims, according to bestdealinsurance.co.uk David Thomson, chief executive of the insurance website, also said that consumers should avoid buying critical illness from their ...
HomeBuy scheme benefits are 'dubious', mortgage expert says.
Mar 01, 2007 ... Mortgages A leading mortgage expert has attacked the government for fudging its manifesto commitments on housing. Ray Boulger, senior technical manager for John Charcol, claims the proposed revisions to the HomeBuy scheme are "a dubious investment" for those on low ...
Pink aims to realign structure as parent company assets soar.
Mar 01, 2007 ... mortgages Pink Home Loans has undergone a major shake up in both its executive and its business structures. Key changes to the mortgage adviser network include the promotion of Kay Leslie to the newly-created role of network services director. The changes ...
With profits leave IFAs 'frustrated' - Fidelity.(with profit funds, independent financial advisers)(Fidelity FundsNetwork)
Mar 01, 2007 ... Byline: Lack of information for comparisons leading to advisers INVestments Financial advisers are becoming increasingly frustrated by with profit funds, with almost two-thirds telling Fidelity FundsNetwork that they do not receive sufficient information from ...
Mform reveals duty burdens up.
Mar 01, 2007 ... Rising UK house prices over the past three years have forced UK homeowners to increase their mortgage by more than AGBP10,000 in order to accommodate stamp duty payments. The findings were revealed in research by mortgage search engine Mform.co.uk, it also showed homeowners are ...
Ascentric plans wrap expansion.
Mar 01, 2007 ... Byline: Director claims business will expand alongside the market wrap Ascentric will expand its wrap offering beyond only high net-worth clients as the market expands, the managing director has claimed. Hugo Thorman, managing director of Ascentric, said: ...
Run at the chance to catch a dream prize.
Mar 01, 2007 ... It is now less than a fortnight until the first ball is bowled in the Cricket World Cup on the sun-kissed wicket of Sabina Park, Jamaica. With their Ashes humiliation fading as their form improves, England expects a gutsy performance from its squad. And with Scotland and Ireland ...
IFP aims for east Midlands drive.
Mar 01, 2007 ... The Institute of Financial Planning will open a new branch and has appointed two new chairmen as part of the professional body's growth strategy. Becky Taylor, managing director of Dunham Financial Services in Peterborough, will launch the IFP's new east Midlands branch on 15 ...
FSA set to Connect with industry bodies on MiFID.
Mar 01, 2007 ... Byline: Organisation claims that it will aid watchdog with implementation of directive Regulation An unofficial organisation called MiFID Connect has claimed that it has been asked by the FSA to help with regulation. It follows the speech made by Dan ...
Standard unveils platform to IFAs.
Mar 01, 2007 ... Standard Life has launched a mutual fund platform called FundZone that aims to build on the success of its Sipp and wrap propositions and offers a wide choice from leading managers. To help advisers manage the increased choice, FundZone provides a range of tools to make their ...
Pym resigns as A&L announces record-breaking profits for 2006.(Richard Pym, Alliance & Leicester PLC)
Mar 01, 2007 ... Results Alliance & Leicester has become the latest bank to announce strong profits, recording pre-tax profits of AGBP569m last year. This compares with its pre-tax profits of AGBP548m in 2005, and comes as British banks face criticism for record-breaking profits; ...
Robinson adds to the exodus of managers from RBS Intermediary.
Mar 01, 2007 ... Jim Robinson has resigned his position as mortgage support manager for RBS Intermediary Partners on the day of its first anniversary. He is the fourth senior member of the mortgage team to leave in recent months. He follows Jayne-Anne Gadhia, managing director of mortgages left ...
Act now on Isa offers, say firms.
Mar 01, 2007 ... Byline: Companies and trade bodies remind general public that that there is just over a month to the end of the tax year investment Investors will have to move quickly to take advantage of Isa offers, with only a month-and- a-half left until the Isa season ends, ...
Montpelier plans UK drive after RST deal.
Mar 01, 2007 ... IFA business the Montpelier Group has acquired RST Group, a financial planner and accountancy company. RST primarily provides accountancy services, but also deals with all aspects of financial planning through RST Financial Consultancy. The Montpelier Group - ranked ...
UK private lending grows AGBP22bn in Jan, claims BBA.(British Bankers' Association)(Brief article)
Mar 01, 2007 ... Total lending to the UK private sector has increased by nearly AGBP22bn in January, but manufacturing, retail and construction are borrowing less, according to the latest figures from the British Bankers' Association. The BBA has reported total sterling lending to the UK private ...
Industry gets behind proposed gift change.
Mar 01, 2007 ... Byline: The move comes alongside calls from the Institute of Directors to scrap IHT Taxation Providers have welcomed news that the government is considering increasing the limits of gifts to most trusts, although HM Revenue & Customs said no final decision has yet ...
Beacon seeks out Money Portal.
Mar 01, 2007 ... Leading mortgage adviser The Money Portal has announced it will start accepting packaged business from the Beacon Group. Mortgage packagers were predicted by many to disappear from the market following regulation, but many have, in fact, gone from strength to strength, despite ...
Liv Vic draw nearing fever pitch.
Mar 01, 2007 ... There is still time left to grab a chance to be a winner in the Liverpool Victoria mimi flexible plan promotion. The competition gives financial advisers the opportunity to win a share of the Liverpool Victoria prize fund, which increases every time an adviser tries out the ...
Saga and Risk team up to insure over-50s.(Brief article)
Mar 01, 2007 ... Risk Placement Services is to provide a protection-finding service for Saga's non-standard risk clients. The online specialist will help the many Saga Personal Finance clients who, because they are aged over 50, are deemed as non-standard risk by insurance companies and may ...
Forget the rear-view mirror tactic - HSBC.
Mar 01, 2007 ... Byline: Head of research urges IFAs to look beyond quantitative data-picking funds RESEARCH IFAs should be wary of multi-managers that use quantitative research to pick underlying funds, according to HSBC. Nick Pothier, head of UK commodity and equity ...
ABI questions RU64 move.
Mar 01, 2007 ... The Association of British Insurers has questioned the FSA's commitment to a principles-based regime, following its announcement on 26 February that it will be retaining the RU64 rule. The rule states that advisers must explain in writing to a client why the personal pension ...
My Sipp will go into the fund, so my wealth will be allied with the clients'.
Mar 01, 2007 ... FINANCIAL ADVISER: What will your role at PSigma be? BILL MOTT: There are three partners to the new venture Ian Chimes, myself and Graham Fuller who was head of balanced pensions funds for Newton. The three of us are setting up a joint venture with Punter Southall, ...
Commission disclosure attacked.
Mar 01, 2007 ... Byline: EFFAFI to call on European Commission to scrap rules that favour large businesses and disadvantage small firms Commission Commission disclosure is not acceptable, brings no advantages for consumers and only benefits large brokerages, a leading figure in the ...
Own up, Mr Hutton.
Mar 01, 2007 ... The high court has now come down strongly in favour of the 125,000 pensioners who have lost their pensions through no fault of their own. It is a victory for the Parliamentary Ombudsman. All they have done, like good citizens, was to put something aside every pay day for their old age, as ...
Take on the challenge.(Brief article)
Mar 01, 2007 ... PRESSURE is now building on high street banks to temper their aggression and stop imposing punitive charges on accountholders who overshoot their overdraft limits or, even worse, who prudently use their credit cards to the minimum. At a time when we are reminded of the so-called ...
Time for financial advice to pay debts.(Column)
Mar 01, 2007 ... A few years ago I arrived at work early one morning to get some pressing proofreading out of the way before the phones started ringing. It was a good idea until shortly after I arrived my early-bird start was disturbed by a phone call from a troubled female colleague in another part of the ...
The winds of change.
Mar 01, 2007 ... Pearl's new crew finally sets sail Hugh Osmond is that rarest of creatures, a modern thinker in the insurance world. Coming from outside of this archaic industry I think it is fair to say he has at times been baffled, perplexed and horrified by what he has found, while as a ...
Hold the Bolly.
Mar 01, 2007 ... On 26 January 2007 the FSA announced that its MiFID consultation programme was complete and that the necessary changes to transpose the Markets in Financial Instruments Directive into the Financial Services and Markets Act 2000, its secondary legislation, and to the FSA Handbook had been ...
Some are more equal than others.
Mar 01, 2007 ... The recent High Court decision that the government was wrong to reject the findings of Ann Abraham, Parliamentary Ombudsman, when she determined that the government had issued misleading information about company pension schemes, has caused me to reflect on the nature of complaints and of ...
Left hand must watch what right hand does.
Mar 01, 2007 ... Ah, the success story that is joined-up government. The problem is, you really need to know what your own minister is doing before you start getting involved with other departments. A valuable lesson for the department of work and pensions then, which recently had to call the ...
Devise the recipe to suit your taste.
Mar 01, 2007 ... Byline: Match evaluations of performance numbers and risk profiles to your client's needs to make up the strongest portfolio Many have talked about property funds and their attractiveness, but choosing the right property fund is missing the point. Choosing to have the right ...
Aifa calls for costs of watchdog's work to be put under microscope.
Mar 01, 2007 ... An IFA trade body has called for the work of the FSA to be evaluated every two years by the National Audit Office to judge the cost of its move to more principles-based regulation. In a submission to a House of Lords Select Committee inquiry into UK Economic Regulators, the ...
Conditions ripe for open season.
Mar 01, 2007 ... Byline: While take up may have been slow, strengthening markets will ensure good conditions for Isa season The Isa figures have not made comfortable reading recently. According to statistics from the Investment Management Association, investors deserted the equity version of Isa ...
A battle has been won but the war is lost.
Mar 01, 2007 ... Byline: The Isa changes go some way to addressing investor grievances, but its failings have strong tax implications How will the new Isa changes affect your customers? Chancellor Gordon Brown used his 6 December Pre-Budget Report last year to confirm that Isas are here to stay, ...
All stand together.
Mar 01, 2007 ... Byline: An FSA review gives opportunity for advisers to improve service by producing a symbiosis with providers When the FSA announced last year that it was to launch a major investigation into the distribution of retail financial products, there was a sharp intake of breath ...
Evolution solution.
Mar 01, 2007 ... Byline: Expectations are changing - businesses with vision and effective management will not only survive, but thrive The world is changing. No surprise. The population is aging rapidly and the baby-boomer generation, worried about how they will cope financially in their ...
Zopa calls on IFAs to make the most of social lending.
Mar 01, 2007 ... Social lending as an asset class has produced average returns of 6.75 per cent and up to 14 per cent a year, according to Zopa, the world's first lending marketplace which cuts out the banks. Zopa has launched a campaign to promote awareness among IFAs of the benefits to their ...
When money talks high standards walk.
Mar 01, 2007 ... Byline: Demutualisation has proved to be a plague on once-successful businesses Time was when the members of our once mighty building society movement were probably as well known for the catchiness of their TV advertising as they were for the competitiveness of their products. ...
Lights go out on index as oil and gas falters.
Mar 01, 2007 ... Is not it always the way? Just when you think you have found the asset class answer to all your investment dreams, you wake up to find that the asset class is not what it appeared. There will almost certainly be some institutional investors out there that will be feeling this way about ...