Financial Advisor back issues from July 2008:
ETFs take on Europe.
Jul 03, 2008 ... Byline: Marco Montanari Exchange traded funds will soon become a more dominant force in European investment than they have in the US Europe will soon pass a rather significant milestone: The European fixed income exchange-traded fund market will soon outstrip the US ...
Rock fallout rolls on with savings rule rejig.
Jul 03, 2008; ... Byline: James Redgrave Darling moves to protect GBP50,000 of savings but banks won't pre-pay for it. Depositors could see up to GBP50,000 of their funds protected under new Treasury proposals in the wake of the financial collapse of Northern Rock, but banks will not ...
Life Trust readies corporate longevity plan.
Jul 03, 2008 ... Byline: Stefanie Ives Company is to launch a corporate product by the end of the year Life Trust is set to launch a corporate offering to run alongside its retail product by the end of the year. Dominic Weeks, a spokesman for Life Trust, said the provider ...
Lord Turner: UK would be "lucky" to avoid another Rock.
Jul 03, 2008 ... Byline: James Redgrave The incoming chairman of the Financial Services Authority (FSA) has hinted the UK will be lucky to avoid another crisis on the scale of Northern Rock in the coming years. Lord Adair Turner's comments came as he was grilled by MPs on the House ...
Advisers urged to educate consumers on OMO.
Jul 03, 2008 ... Byline: Stefanie Ives Advisers have a distinct role to play when advising about the Open Market Option (OMO) as consumers continue to ignore providers prompting letters, managing director of IFA services for Bankhall David Golder has claimed. Referring to the recent ...
FSA fines Body Shop man.
Jul 03, 2008 ... Byline: Amy Brazil The FSA has fined John Shevlin GBP85,000 for alleged market abuse. The FSA has fined John Shevlin GBP85,000 for alleged market abuse. Mr Shevlin, a former IT technician for The Body Shop International Plc, is alleged to have established ...
Majority are clueless over state pension - study.
Jul 03, 2008 ... Byline: Stefanie Ives More than half do not know what they should be saving for their retirement, BC&E report finds Nine out of 10 UK workers do not know what the basic state pension is, research by employee benefits provider B&CE Benefit Schemes has revealed. ...
UK Third way guarantees 'not worth it'.(Steve Patterson of Intelligent Pensions)(Brief article)
Jul 03, 2008; ... Byline: Joy Dunbar Steve Patterson from Intelligent Pensions says that variable annuities are suitable for certain clients Guarantee costs for third-way annuities are not worth paying except in occasional circumstances, according to Intelligent Pensions. ...
Customers shunning advisers - survey.
Jul 03, 2008 ... Byline: Joy Dunbar Research from Standard Life reveals a drop in number of client/adviser relationships between January and April. The number of investors with an ongoing relationship with a professional adviser has decreased by 7 per cent, according to the latest ...
Ombudsman blames government over Equitable Life.
Jul 03, 2008 ... Byline: Joy Dunbar Government may appeal the Parliamentary Ombudsman's recommendations over the Equitable Life fiasco when it is published on 14 July. The Parliamentary Ombudsman will find the government guilty of maladministration over its handling of the near ...
RDR will push the Sipp market forward, says Suffolk Life.(Brief article)
Jul 03, 2008; ... Byline: Joy Dunbar The retail distribution review and the evolving platform market looks certain to act as a catalyst for growing Sipp demand, according to John Moret director of sales and marketing for Suffolk Life. Speaking after the Henry Stewart Sipp and ...
Lord Turner urged to look at FSA pay deals.
Jul 03, 2008 ... Byline: James Redgrave Lord Turner must look at the FSA's remuneration structure, senior industry insiders have warned, after former executive Clive Briault's redundancy package made him the regulators' highest paid employee this year. The regulator published its ...
FSA in the doghouse.
Jul 03, 2008 ... Byline: Tony Hazell Panel of experts My friends at the FSA have received a bit of a spanking from the Financial Services Consumer Panel. At one time this panel seemed to be little more than another gathering of the great and the good. But in the last few ...
St James's adds Bright Grey to panel.(St. James Place Capital)(Brief article)
Jul 03, 2008; ... Byline: Maryrose Fison Bright Grey, the protection specialist arm of Royal London, has been appointed to the St James's Place protection panel. Bright Grey, the protection specialist arm of Royal London, has been appointed to the St James's Place protection panel. ...
Abbey reveals fixed-rate deal durations.
Jul 03, 2008 ... Byline: Maryrose Fison One in 10 would choose a 10-year fixed-rate mortgage One in 10 people would now chose to fix for 10 years or longer on a mortgage, according to new findings from Abbey. The latest figures from the Abbey Remortage Index show that ...
Southern Cross shares plummet.
Jul 03, 2008 ... Byline: Joy Dunbar Southern Cross Healthcare fails to repay debt Shares in the largest provider of care homes for the elderly in the UK, Southern Cross Healthcare, dived after it announced that it would not be able to pay a GBP46m debt which is due by the end of June ....
Prices drop by GBP11.5k in a year - Nationwide.
Jul 03, 2008 ... Byline: James Redgrave According to Nationwide's latest figures house prices down month on month, although pace of falls has decreased House prices have fallen by more than GBP11,500 in the past year, according to figures released by Nationwide. However, ...
Charcol boss goes in staff cuts.
Jul 03, 2008 ... Byline: Joy Dunbar Chief executive Ian Kennedy leaves the broker after two years in a move which sees staffing levels reduced by 69 John Charcol has axed 69 of its staff, including chief executive Ian Kennedy and finance director Nigel Ward. The ...
Old Broad Street teams up with Origen.(Origen Financial L.L.C.)(Brief article)
Jul 03, 2008; ... Byline: Amy Brazil OBSR to assist Origen in expanding funds and products assessed for its panels Origen has appointed Old Broad Street Research Limited to develop a range of investment funds and product panels. As part of the announcement, OBSR will assist ...
Strawberry Tea is in season.(Brief article)
Jul 03, 2008; ... Byline: Stefanie Ives Breast Cancer Care fundraiser supported by Judy Murray Judy Murray, mother of Andy Murray, Britain's number one singles player and Jamie Murray, Britain's top doubles player, is encouraging people around the UK to hold a Strawberry Tea event for ...
Fitch calls for rise in scrutiny of property fund managers.
Jul 03, 2008 ... Byline: Maryrose Fison Analysis calls for strong management and understanding of dynamics Ratings agency Fitch has called for greater scrutiny of property fund managers' ability to manage liquidity. The 23-page report, which analyses the critical issues and ...
Advisers 'need reminding' of offshore bond benefits.
Jul 03, 2008 ... Byline: Maryrose Fison Defaqto report finds that 20 per cent of advisers do not know enough about offshore bonds to recommend them Advisers remain unsure of offshore bonds as nearly three in 10 avoid using them, a report by market analyst Defaqto has revealed. ...
Top bosses are cracking up.
Jul 03, 2008 ... Byline: Hal Austin The saga at Bradford & Bingley is another example of some of the serious problems that exist within the banking and building society sector as well as with the management of some of these institutions It was the late much mis-understood Labour prime ...
Court correct in Pickerings case, claims legal expert.
Jul 03, 2008 ... Byline: James Redgrave The Court of Appeal made the "absolutely right decision", says CMS Cameron McKenna The Court of Appeal acted correctly by upholding a decision by the Financial Ombudsman Service to order an IFA firm to pay a client for under selling his pension ...
Green joins Afi.
Jul 03, 2008 ... Byline: James Redgrave Abbey for Intermediaries has appointed Sara Green as its national key account manager. Abbey for Intermediaries has appointed Sara Green as its national key account manager. Ms Green's appointment signals the final step in the ...
Britannia scores high in leadership.
Jul 03, 2008 ... Byline: Amy Brazil Best Companies' survey shows 20 Best Big Companies to work for ranks Britannia Building Society has been ranked second in this year's 20 Best Big Companies to work for, beaten only by accountancy firm KPMG. Neville Richardson, its group ...
Cautious clients looking to intermediaries, claims IMA.(Investment Management Association)
Jul 03, 2008; ... Byline: Joy Dunbar The Investment Management Association's latest figures show that investors continue to be cautious Intermediaries represented 85 per cent of gross retail business for UK domiciled funds in May as investors remain cautious, figures from the ...
Flexible friends used more.
Jul 03, 2008 ... Byline: Amy Brazil Nearly a third of consumer transactions were completed on plastic as usage of debit cards has soared by 390 per cent in 10 years, research by Apacs has revealed. Nearly a third of consumer transactions were completed on plastic as usage of debit ...
Morgan gets four structured products.
Jul 03, 2008 ... Byline: Amy Brazil Morgan Stanley aims to appeal to cautious investors looking to benefit over the investment term Morgan Stanley has expanded its structured product range, bringing the total number of UK retail plans to 64. Launched on 1 July, the four ...
IFAs endorse emerging markets and UK equities - Virgin Money.
Jul 03, 2008 ... Byline: Maryrose Fison Gold is the least popular investment sector among IFAs IFAs are looking to emerging markets and UK shares when advising their clients over the next three months, according to Virgin Money. According to the latest investor sentiment ...
Howitt joins Nucleus as finance director.
Jul 03, 2008 ... Byline: James Redgrave Nucleus Financial Group has appointed Neil Howitt as its finance director. Nucleus Financial Group has appointed Neil Howitt as its finance director. He was previously an actuary and finance director for St. James's Place Wealth ...
Look beyond mortgages, brokers warned.
Jul 03, 2008 ... Byline: James Redgrave Mortgage brokers must diversify, claims Positive Solutions A major IFA has warned mortgage brokers they need to diversify to survive in the current difficult market conditions. Positive Solutions issued the guidance, claiming offering ...
FSA predicts 20% of firms will miss TCF deadline.
Jul 03, 2008 ... Byline: James Redgrave On current estimates firms will struggle to meet the regulator's December deadline Twenty per cent of firms will miss the deadline for complying with the FSA's treating customers fairly rules in December, the regulator has predicted. ...
Geden steps down as CEO of NFU Mutual.
Jul 03, 2008 ... Byline: Joy Dunbar Board of directors appoints Lindsay Sinclair as chief executive of NFU Mutual to take over from Ian Geden NFU Mutual has announced the retirement of its chief executive Ian Geden at the end of 2008 after nearly 40 years of service. NFU ...
Co-op must try.(Coop Group)(Financial report)(Brief article)
Jul 03, 2008; ... Byline: Hal Austin It is nice to see the Coop Group is making a healthy profit and returning some of that to members in a profit share. It is nice to see the Coop Group is making a healthy profit and returning some of that to members in a profit share. ...
Skandia axes Selestia brand.
Jul 03, 2008 ... Byline: Joy Dunbar Skandia is to re-brand its Selestia platform Skandia has announced plans to axe the Selestia platform and replace it with a full wealth management wrap platform. Due to launch on 1 August the new division, headed by Brett Williams, will ...
Pressure drop.
Jul 03, 2008; ... Byline: Hal Austin Companies must win Service Awards by fair and square means Our Service Awards questionnaire has now been published and it indicates two important markers in the personal finance calendar. First, it is the starting shot for the most ...
Lindsell to replace Brindle on FRRP.
Jul 03, 2008 ... Byline: James Redgrave Financial Reporting Council welcomes Lindsell David Lindsell has been appointed a deputy chair of the Financial Reporting Review Panel. Mr Lindsell replaces Ian Brindle who has completed his final term on the panel Mr ...
In the wake of ABN deal and credit crunch Fortis goes 'prudent' as it plans a GBP1.2bn rights issue.
Jul 03, 2008 ... Byline: Joy Dunbar Fortis accelerates the execution of its solvency plan The acquisition of ABN Amro and the credit crunch has forced Dutch-Belgian bank Fortis to take steps to increase its liquidity with a GBP6.3bn cash injection. The bank's board of ...
Borrowers feel sting as Halifax ramps up fees.
Jul 03, 2008 ... Byline: Maryrose Fison Lender introduced mortgage account fee Halifax has increased its mortgage fees for new borrowers by GBP70 meaning it now stands at GBP245. Explaining the fee - which replaces its existing mortgage arrangement charge of GBP175 and ...
Celdran heads to Paris for Standard Life Investments.
Jul 03, 2008 ... Byline: Jessica Mooney Standard Life Investments, one of the largest property fund managers in Europe, has announced the appointment of Frederic Celdran as its European development manager in Paris, effective September 2008. Standard Life Investments, one of the ...
Hepburn to lead Crown's servicing team.
Jul 03, 2008 ... Byline: James Redgrave Expansion of Crown Mortgage Management's servicing team will be key responsibility Crown Mortgage Management has appointed Kevin Hepburn as primary servicing manager. Mr Hepburn joins Crown from Money Partners, where he was ...
Hoskins to take care of private clients for Oxford Capital.
Jul 03, 2008 ... Byline: James Redgrave Richard Hoskins has become private client services manager for venture capitalists Oxford Capital. Richard Hoskins has become private client services manager for venture capitalists Oxford Capital. The ex-retail Noble Fund Managers ...
Marsh sends Arms to NY.
Jul 03, 2008 ... Byline: James Redgrave Marsh appoints Arms as international head of employee benefits Insurance broker firm Marsh has appointed Greg Arms as its international head of employee benefits. He will be based in New York, ...
Huertas vows to crack down on banks.
Jul 03, 2008 ... Byline: James Redgrave Banking sector chief will not shirk from using planned special resolutions regime The FSA has sent out a veiled threat to the banking sector over preserving capital and liquidity. In a speech to the City and financial banking seminar ...
Skandia warns over bias issue with the CAR journey.
Jul 03, 2008 ... Byline: Joy Dunbar Provider warns FSA it needs to looking into factoring arrangements or the idea will not work Factoring arrangements will create provider bias and must be prevented by the FSA as part of the retail distribution review, according to life company ...
Diversification is on the rise, says Barclays.(Brief article)
Jul 03, 2008; ... Byline: Joy Dunbar Almost two thirds of investors use funds because they provide diversification according to Barclays Stockbrokers. Diversification in a portfolio is the main motivation behind fund choices, research from Barclays Stockbrokers has revealed. ...
The four riders of charity.
Jul 03, 2008 ... Byline: Stefanie Ives Guide Dogs for the Disabled gets GBP5000 from S&S A team of four riders representing Stroud & Swindon Building Society have raised GBP5000 for Guide Dogs for the Disabled, following the completion of a gruelling 24 hour cycling marathon. ...
Pru shelves reattribution proposal.
Jul 03, 2008 ... Byline: Maryrose Fison After months of research company announces carrying on with current plans is the best option Prudential has shelved plans to carry out a reattribution on its with profits policy, following months of actuarial modelling. The news ...
Cheaper to buy than to rent by GBP10k - Abbey.
Jul 03, 2008 ... Byline: James Redgrave Rent v Buy Index shows stark difference The cost of buying property is falling below that of renting, the latest research from Abbey has revealed. Publishing its Rent v Buy Index, the company showed buying is GBP10,500 cheaper on ...
Baillie adds to Cofunds to raise adviser access.
Jul 03, 2008 ... Byline: Anna Lawlor Baillie Gifford launches a range of sub-funds on Cofunds platform. Baillie Gifford has listed 17 of its Oeic funds with Cofunds as part of its "further improved support for intermediaries". Ken Edwards, intermediary sales and marketing ...
Ami clarifies its stance on Fos and mortgage advisers.
Jul 03, 2008 ... Byline: Chris Cummings We would like to correct a report in Financial Adviser (FA, 26 June) that stated Ami had "urged" the Financial Ombudsman Service to turn its attention to mortgage advisers. This is not the case. We would like to correct a report in Financial ...
Aegon looks to Focus for intermediaries solution.
Jul 03, 2008 ... Byline: Maike Currie Aegon Scottish Equitable and Focus Solutions Group launch extranet service Aegon Scottish Equitable has teamed up with Focus Solutions Group to launch a new extranet service for intermediaries. The streamlined extranet service enables ...
'Difficult market' forces Mortgage 2000 to consider making 50 cuts.
Jul 03, 2008 ... Byline: James Redgrave Belt-tighening measures could mean redundancies for comparison website Financial comparison website Moneysupermarket is considering more than 50 members of staff from its Mortgage 2000 intermediary service redundant. The difficult ...
Majority predict future house price falls.
Jul 03, 2008 ... Byline: Joy Dunbar Three-quarters of people expect property prices to fall according to the Building Societies Association Three quarters of people expect property prices to fall over the next 12 months, according to the first quarterly price tracker survey by the ...
Mortgage debt for pensioners grows by 20%, says Key.
Jul 03, 2008 ... Byline: Stefanie Ives Outstanding mortgage debt for those at or nearing retirement in the UK stands at GBP207, claims report A third of the UK population, nearing or in retirement, owe GBP207bn in outstanding mortgage debt, a new report from Key Retirement Solutions ...
Duffy joins Mortgageforce during strategic review.
Jul 03, 2008 ... Byline: Joy Dunbar Kevin Duffy heads to West Brom Society's Mortgageforce Kevin Duffy has been appointed as a consultant at Mortgageforce as it undergoes a strategic review. Mr Duffy will work closely with Rob Clifford, chief executive, to identify ways in ...
IMA sees through transparency claims.
Jul 03, 2008 ... Byline: Joy Dunbar TUC calls on the government to force fund managers to disclose their voting records in a standard form. The Trade Union Congress continues to fuel myths about the lack of transparency and accountability in the fund management industry, the ...
Unbiased launches pension-focused IFA search facility.
Jul 03, 2008 ... Byline: Maryrose Fison Corporate pension schemes stand to gain from Unbiased.website, claims David Elms Adviser search engine Unbiased.co.uk has launched a new service to help put members of corporate pension schemes in touch with an IFA. The ...
MGM Advantage beefs up annuity team.
Jul 03, 2008 ... Byline: Maryrose Fison Life assurer poaches Aston Goody from Prudential and Eyeedul Haque Partnership Niche life assurer MGM Advantage has been head-hunting top staff from rival providers in an attempt to boost its annuity team. The recruitment drive forms ...
Devlin to head global sales for Castlestone.
Jul 03, 2008 ... Byline: James Redgrave Jerry Devlin has been appointed head of global of sales in a major shake up at Castlestone Asset Management. Jerry Devlin has been appointed head of global of sales in a major shake up at Castlestone Asset Management. Joe ...
O'Neill to head distribution for RBS.
Jul 03, 2008 ... Byline: James Redgrave RBS Asset Management has appointed Kate O'Neill as head of distribution. RBS Asset Management has appointed Kate O'Neill as head of distribution. The one time Henderson Global Investors pan-European distribution chief will be in ...
Good deeds pay off for Dix.
Jul 03, 2008 ... Byline: Joy Dunbar Kate Dix wins a Standard Life Chairman award Kate Dix, an account relationship manager for group pensions for Standard Life, has won a volunteering award at the life company's Chairman Awards. Standard Life's second annual Chairman ...
Aegon to review Property deferment options.
Jul 03, 2008 ... Byline: Joy Dunbar Asset manager's ban on cash withdrawals was put in place because of market uncertainty Aegon Asset Management is reviewing its redemption deferment periods on commercial property funds after imposing a 12-month ban on cash withdrawals in January. ...
Pensions Education Fund fights sales pitch stigma.
Jul 03, 2008 ... Byline: James Redgrave Phobia over retirement advice in the workplace affects SMEs the worse - report Small employers are rejecting the offer of pensions advice in the workplace, according to DWP research published last week. The 130-page document released ...