Financial Advisor back issues from August 2008:
Liver comes under ire on quotes.
Aug 07, 2008; ... Byline: Stefanie Ives An IFA has slammed Royal Liver for providing "misleading" information and failing to treat customers fairly by offering a different insurance quote online to that from a portal Andrew Oliver, director of Kent-based Andrew Oliver & Co, said he ...
Jannels steps down from the PMPA.
Aug 07, 2008 ... Byline: Stefanie Ives The Professional Mortgage Packagers Alliance has announced Vic Jannels has retired from his post as chairman of the organisation and Helen Hymos, lender relationship manager for PMPA, has taken on the role of acting chairman. The Professional ...
Defaqto unveils its pension study plans.(Report)
Aug 07, 2008 ... Byline: Stefanie Ives Defaqto has announced plans for the launch of its Retirement Savings and Income Report 2008 this October. Defaqto has announced plans for the launch of its Retirement Savings and Income Report 2008 this October. The report is designed ...
OFT sets its sights on irresponsible lending.
Aug 07, 2008 ... Byline: Stefanie Ives Public consultation marks first phase of OFT's study into consumer credit markets The Office of Fair Trading has launched a public consultation looking at irresponsible lending in UK consumer credit markets. The consultation follows ...
Industry is making a rod for its own back over skills - PFS.
Aug 07, 2008 ... Byline: Joy Dunbar The president of the Personal Finance Society said that he is struggling to find people he wants to hire IFA companies are not investing in their staff and the industry is now in danger of creating large numbers of unskilled staff, the president of ...
Now Financial set for a leaflet drop.(Brief article)
Aug 07, 2008; ... Byline: Jessica Bown Hale-based mortgage broker Now Financial is targeting 20,000 homes in its local area with leaflets championing fee-based mortgage advice as well as offering a GBP100 discount on its charges, which start at GBP250. Hale-based mortgage broker Now ...
Bulloch leaves Swip for Cornelian AM.
Aug 07, 2008 ... Byline: Colin Calder Bill Bulloch follows on from the hiring of Michael Walker of Maclay Murray & Spens Bill Bulloch, development director of Scottish Widows Investment Partnership, has joined Cornelian Asset Managers. At Cornelian, Mr Bulloch will work ...
Scottish Life draws on its own experience for drawdown aid.(Brief article)
Aug 07, 2008; ... Byline: Jessica Bown Royal London's pensions arm publishes income drawdown book for advisers Scottish Life, the pensions arm of Royal London, has published a series of leaflets offering technical information for advisers with clients interested in the thorny world of ...
SII approves IFQ.(Securities & Investment Institute)(Islamic finance qualification)(Brief article)
Aug 07, 2008; ... Byline: Stefanie Ives The Securities & Investment Institute benchmark Islamic finance qualification has been accepted onto the Financial Services Skills Council recommended qualifications list. The Securities & Investment Institute benchmark Islamic finance ...
Protection sector to be split on service versus price.
Aug 07, 2008; ... Byline: James Redgrave Simplification of the underwriting process will lead to a 'service versus price' split among income protection and critical illness providers Income protection providers are to be drawn into a competition that pits service against price, Axa ...
Road to recovery.
Aug 07, 2008 ... Byline: Maike Currie A perception of insurers looking for any excuse not to pay out is being blamed for the drop in sales of critical illness cover A decade ago players in the financial services industry predicted that the critical illness market would soar, ...
We're not going on a summer holiday.
Aug 07, 2008; ... Byline: Jeff Prestridge What with Equitable Life and dreary news on the housing market what better time for a holiday abroad? However, even thousands of miles away the UK's economic future looks bad I have just spent a glorious week in glorious Lanzarote with my ...
FSA gets heavy.
Aug 07, 2008 ... Byline: Tony Hazell Has the FSA finally woken up? I am prompted to ask following the flurry of activity from the regulator in the past few weeks. Has the FSA finally woken up? I am prompted to ask following the flurry of activity from the regulator in the past few ...
Experts speak out on universal arrears plan.
Aug 07, 2008 ... Byline: Stefanie Ives Imla claims FSA is wrong for telling specialists to adopt one-size-fits-all plan Lenders and advisers have expressed surprise at the FSA's suggestion that specialist lenders operate a one-size-fits-all approach to mortgage arrears. ...
BTL investors plunge into negative equity.(Brief article)
Aug 07, 2008; ... Byline: Stefanie Ives Nearly 200,000 buy-to-let investors have lost up to 90 per cent of cash put into property, a report by Hargreaves Lansdown has revealed. Nearly 200,000 buy-to-let investors have lost up to 90 per cent of cash put into property, a report by ...
Chandos Rose completes its merger with Chadney Bulgin.
Aug 07, 2008 ... Byline: James Redgrave London intermediary Chandos Rose has merged with Hampshire-based Chadney Bulgin. London intermediary Chandos Rose has merged with Hampshire-based Chadney Bulgin. The business will continue to use the Chandos Rose name for pensions ...
M2 comes into the fold as Tower continues conquests.
Aug 07, 2008 ... Byline: James Redgrave Towergate Financial has made its sixth acquisition since it was established in January. Towergate Financial has made its sixth acquisition since it was established in January. The Towergate Group's advisory arm bought up ...
Compulsory savings may be only answer, says B&CE.
Aug 07, 2008; ... Byline: Joy Dunbar Compulsion may be the only alternative to auto-enrolment into personal accounts, according to John Jory from B&CE, as research reveals one in four workers is not saving for retirement. Conducted among 816 individuals, research by stakeholder ...
Flexible working is the key to future of pensions - Tories.
Aug 07, 2008 ... Byline: Joy Dunbar Conservatives say Lord Turner's recommendation of raising the pension age to 70 is inflexible Flexible working is the key to tackling future retirement in the UK, according to the Conservatives who claim that looking beyond 2046, when the pensions ...
MorganAsh to talk tele-underwriting.(Brief article)
Aug 07, 2008; ... Byline: Joy Dunbar MorganAsh is organising a tele-interviewing and tele-underwriting seminar in September Tele-interviewing is conquering the non-disclosure problem, MorganAsh has claimed as it announces details of its one-day event in September. Andrew ...
Job fears grow.
Aug 07, 2008 ... Byline: Stefanie Ives Fears about the health of the UK job market have intensified further, as consumer confidence in employment prospects and the security of their jobs hits a new low. Fears about the health of the UK job market have intensified further, as ...
NU overhauls equity release offering.
Aug 07, 2008 ... Byline: Stefanie Ives Norwich Union is making changes to its lifetime mortgage equity release proposition in a move which will see its existing lifetime mortgages renamed and revamped. Norwich Union is making changes to its lifetime mortgage equity release ...
FSA finds no foul play in HBoS share price drop.
Aug 07, 2008 ... Byline: Stefanie Ives Rumours about funding difficulties at HBoS were not spread as part of a concerted attempt by individuals to profit by manipulating the share price, the FSA has decided. Rumours about funding difficulties at HBoS were not spread as part of a ...
Annuities struggle as summer arrives.
Aug 07, 2008 ... Byline: James Redgrave Annuity payouts have begun to falter after steady growth throughout the year, according to figures from adviser The Alexander Forbes Annuity Bureau. Annuity payouts have begun to falter after steady growth throughout the year, according to ...
Rocky road ahead.(Brief article)
Aug 07, 2008; ... Byline: Hal Austin It was August 9 last year when the Northern Rock crisis first became public and the autocratic reign of Adam Applegarth came crashing down. It was August 9 last year when the Northern Rock crisis first became public and the autocratic reign of Adam ...
Eagle eye on dishonesty.
Aug 07, 2008 ... Byline: Hal Austin The more things unfold the more it looks as if Margaret Cole, the enforcement don at the FSA, is proving, not through loud noise, but action, to be the most effective senior manager at the City regulator. The more things unfold the more it looks as ...
Mortgage Intelligence to make 18 redundant.
Aug 07, 2008 ... Byline: Jessica Bown Broker announces credit crunch inspired staff cuts The housing market slump has forced mortgage adviser network Mortgage Intelligence to make 18 of its staff redundant, reducing the size of its workforce to 50, the firm has said. ...
Rensburg reports drop.(Rensburg Sheppards)(Financial report)(Brief article)
Aug 07, 2008; ... Byline: Jessica Bown Revenue for investment manager Rensburg Sheppards dropped 1.4 per cent year-on-year in the three months to the end of June, despite its burgeoning private client arm, the company has reported. Revenue for investment manager Rensburg Sheppards ...
Widow becomes a mother.(Brief article)
Aug 07, 2008; ... Byline: Stefanie Ives Hayley Hunt, the face of Scottish Widows, gave birth to her first child, daughter Mia Elizabeth, on 31 July. Hayley Hunt, the face of Scottish Widows, gave birth to her first child, daughter Mia Elizabeth, on 31 July. Ms Hunt has been ...
Just sees sales rise.(Financial report)
Aug 07, 2008 ... Byline: Stefanie Ives Just Retirement, the specialist UK life assurance group, reported a 12.8 per cent increase in group sales for the year ending 30 June 2008. Just Retirement, the specialist UK life assurance group, reported a 12.8 per cent increase in group sales ...
Adviser speaks out over discretionary explosion.
Aug 07, 2008 ... Byline: Stefanie Ives Many of the advisers moving into discretionary management do not have the investment experience to offer value for their clients, Richard Gough, of Cardiff-based Castle Court Consulting, has claimed. Many of the advisers moving into discretionary ...
Standard readies for swap.
Aug 07, 2008 ... Byline: Stefanie Ives Standard Life has announced it will be ready for business from 18 August to allow people to transfer and invest their existing protected rights pension pots into the Sipp, following a change in government legislation. Standard Life has announced ...
Banfield joins Link Lending.
Aug 07, 2008 ... Byline: James Redgrave Link Lending has appointed Nicola Banfield as business development manager for the south west region. Link Lending has appointed Nicola Banfield as business development manager for the south west region. Ms Banfield joins Link ...
Mead joins Propertyfinder.com.
Aug 07, 2008 ... Byline: James Redgrave Propertyfinder.com has appointed Natalie Mead as marketing and products director. Propertyfinder.com has appointed Natalie Mead as marketing and products director. Ms Mead is a former marketing director of MSN, and vice president of ...
Moore joins Julius Baer as head of UK sales.
Aug 07, 2008 ... Byline: James Redgrave Wealth manager Julius Baer has appointed Stephen Moore as head of UK sales. Wealth manager Julius Baer has appointed Stephen Moore as head of UK sales. Mr Moore joins the firm from Threadneedle Asset Management where he was director ...
Brokers expect a year of falling or stagnant house prices, warns Imla.
Aug 07, 2008 ... Byline: Joy Dunbar A majority of intermediaries expect house prices to continue falling or to remain the same - poll About half of intermediaries surveyed in a poll believe house prices will fall in the next 12 months, according to the Intermediary Mortgage Lenders' ...
Fidelity offers By-Pass trust.(Fidelity FundsNetwork)(Sipp By-Pass trust)(Brief article)
Aug 07, 2008; ... Byline: Stefanie Ives Fidelity FundsNetwork has launched a Sipp By-Pass trust to help advisers tackle the increasingly complex tax burden faced by their clients. Fidelity FundsNetwork has launched a Sipp By-Pass trust to help advisers tackle the increasingly complex ...
Former UN worker joins IDEAcarbon.
Aug 07, 2008 ... Byline: James Redgrave British research company IDEAcarbon has appointed Nitin Desai, former UN under secretary general, as an advisor to its board of directors. IDEAcarbon is an independent provider of ratings, research and strategic advice on carbon finance. ...
250 Chandos JR.(Brief article)
Aug 07, 2008; ... Byline: James Redgrave London IFAs Chandos Rose was officially merged with Hampshire's Chadney Bulgin on Friday last week. London IFAs Chandos Rose was officially merged with Hampshire's Chadney Bulgin on Friday last week. The business will continue to use ...
New York Mellon hires Deutscher as communication chief.
Aug 07, 2008 ... Byline: James Redgrave The Bank of New York Mellon has appointed Sarah Deutscher as communications manager to work on the company's asset management media relations programmes focusing on Continental Europe, the UK and the Middle East. The Bank of New York Mellon has ...
Royal London appoints Lawton-Browne.(appointment of Carola Lawton-Browne at Royal London Asset Management)(Brief article)
Aug 07, 2008; ... Byline: James Redgrave Royal London Asset Management has made Carola Lawton-Browne portfolio risk manager of its investment team. Royal London Asset Management has made Carola Lawton-Browne portfolio risk manager of its investment team. Ms Lawton-Browne ...
BlackRock appoints Devlin to head greater Europe trust.
Aug 07, 2008 ... Byline: James Redgrave BlackRock Greater Europe Investment Trust has appointed Vincent Devlin as co-manager of its Greater Europe Investment trust. BlackRock Greater Europe Investment Trust has appointed Vincent Devlin as co-manager of its Greater Europe Investment ...
Brown joins Collins Stewart as head of fund sales.
Aug 07, 2008 ... Byline: James Redgrave Mike Brown has joined Collins Stewart Fund Management as head of fund sales. Mike Brown has joined Collins Stewart Fund Management as head of fund sales. He joins from Investec Asset Management where he has been responsible for ...
A&L sees the crunch crush margins.
Aug 07, 2008 ... Byline: Stefanie Ives Meanwhile HSBC reports a GBP5.2bn rise in profits before tax representing a fall of GBP1.98bn on the first half of 2007 Alliance & Leicester saw its half year profits drop to GBP2m, down from GBP290m as HSBC reveals a 28 per cent fall in profits ....
'No end in sight' for Dawnay dismantling.
Aug 07, 2008; ... Byline: James Redgrave Administrator admits that due to the complexity of the business there is no firm date for creditors to receive cash Administrators have admitted they have no idea how long the distribution of assets to Dawnay Day creditors is likely to take due ...
Money Guidance will not replace IFAs, says FSA.
Aug 07, 2008 ... Byline: Joy Dunbar The government's Money Guidance project will not replace IFAs as it aims to help those who may mistrust financial services, Chris Pond, director for financial capability for the FSA, has claimed. Speaking after a high-level Money Guidance summit in ...
Scot Widows vows to grow despite product sales fall.
Aug 07, 2008 ... Byline: Stefanie Ives Edingburgh-based company puts 53% fall in sales down to challenging conditions, CGT changes Scottish Widows has vowed to grow its market share in the IFA sector as sales of saving and investment products through intermediaries have plummeted by ...
Rapid email benefits.
Aug 07, 2008 ... Byline: Maike Currie Businesses not set up to respond to emails rapidly are missing out on lucrative new business contracts, according to the annual Vodafone critical response time index. Businesses not set up to respond to emails rapidly are missing out on ...
Lincoln i2Live offers income guarantee on large pensions.
Aug 07, 2008 ... Byline: James Redgrave Lincoln Financial Group has launched a new service to enable customers to receive income guarantees on their retirement products. Lincoln Financial Group has launched a new service to enable customers to receive income guarantees on their ...
Act early on retirement investment plans: MPL.
Aug 07, 2008 ... Byline: Joy Dunbar Advisers need to pay closer attention to the investment strategy of those approaching retirement especially as annuity rates are high and equities are in the doldrums, a senior annuity IFA has claimed. Advisers need to pay closer attention to the ...
Firms looking beyond pension, says study.
Aug 07, 2008 ... Byline: Joy Dunbar About half of senior executives are now being rewarded through pensions in respect of current service, according to Watson Wyatt Only half of FTSE 350 senior executives are now being rewarded through pensions in respect of current service, according ...
Juggling a week of work and study.
Aug 07, 2008 ... Byline: Penny O'Nions Penny O'Nions, principal of Buckinghamshire-based The Onion Group, spends her week rushing between work and and studying for law school at the weekend. As well as the usual mix of meetings she also manages to find time to speak to a provider about new ...
Analysing the body of evidence.
Aug 07, 2008 ... Byline: Peter Done A range of healthcare officials, and not just doctors, can produce a recommendation that an employee would benefit from time off work, and although it does not carry the same legal weight any note they produce should be used to carefully consider any absence ...
Average drop of GBP15k in July sees house prices reach two-year low.
Aug 07, 2008 ... Byline: Joy Dunbar House prices are falling according to Nationwide's latest index Nationwide has warned that the risk of a recession in the UK "is now clearly rising" as its latest market report revealed that house prices fell 1.7 per cent in July. This ...
UK lagging behind Europe in terms of family-owned firms.
Aug 07, 2008 ... Byline: Maike Currie Family-owned firms in the UK are a 'neglected' part of economy - research Research conducted by Credit Suisse showed that family-owned firms are a neglected part of economy in the UK. The report's authors say the UK is lagging behind ...
DIY spirit lives on.
Aug 07, 2008 ... Byline: Maike Currie The UK's entrepreneurial community still believes it is worth taking the plunge and starting a business despite an economic slowdown, new research has revealed. The UK's entrepreneurial community still believes it is worth taking the plunge and ...
Skandia warns on RDR tax sting.(Brief article)
Aug 07, 2008; ... Byline: James Redgrave Advisers could be hit with extra tax charges for pensions contracts as a result of the retail distribution review, Skandia has warned. Advisers could be hit with extra tax charges for pensions contracts as a result of the retail distribution ...
Market for SME pension scheme advice has to grow, says CPRM.
Aug 07, 2008 ... Byline: James Redgrave The pensions advice market for small to medium sized enterprises is not being filled adequately, according to one firm offering actuary services. The pensions advice market for small to medium sized enterprises is not being filled adequately, ...
Definitely maybe over risk levels.
Aug 07, 2008 ... Byline: Simon Lovegrove Work on measuring risk levels is progressing Before the move towards more principles-based regulation, when defined rules formed the basis of the regulatory framework, it was often possible for lawyers to give a firm answer as to whether or not ...
Don't bank on this advice.
Aug 07, 2008 ... Byline: Peter McGahan Banks will never be able to truly offer unbiased financial advice I wonder how many IFAs out there have experienced the 'job lot' advice from banks that seems to go unnoticed by the regulators. Are the regulators really aware of how poor the ...
Bridging the gap.
Aug 07, 2008; ... Byline: Paul Davies Critical to closing the insurance protection gap in the UK is a new advice-based regime, which boils down to a more effective distribution system The protection gap has gained high visibility in our industry over recent years, it is currently ...
We're still standing, but we need to walk.
Aug 07, 2008 ... Byline: Peter Hamilton A rafter of changes in the last year have helped the sector in terms of confidence but more needs to be done Changes to critical illness definitions by the Association of British Insurers are a year old. So what has happened over the last 12 ...
Cambridge expands fixed rate range.
Aug 07, 2008 ... Byline: Stefanie Ives Cambridge Building Society has added to its mortgage range with the launch of two fixed rate mortgages. The society has launched a two-year fixed rate mortgage deal, offering customers an initial rate of 6.14 per cent. It has also ...
Baring appoints Lord to head client service team.
Aug 07, 2008 ... Byline: James Redgrave Baring Asset Management has appointed Tim Lord as head of client service and relationship development. Baring Asset Management has appointed Tim Lord as head of client service and relationship development. Mr Lord joins from ...
Mystery shopper: Wolverhampton.
Aug 07, 2008; ... Byline: Girlie Garduce The mystery shopper visits Wolverhampton this week to find out about protection plans. This week the mystery shopper is looking into protection plans. The shopper and her husband are seeking protection options which will cater for their ...