Financial Advisor articles from February 2003

Financial Advisor archives from February 2003

Targeting Isas.(Brief Article)
February 12, 2003... DESPITE the awful topsy turvy performance of the equity markets and the failure of Isas to attract new savings in the way anticipated by the government, the uncertainty of stocks and shares have made the risk of buying that much more exciting....

Tenable options for stock pickers; It is no coincidence that the most successful funds in recent years have been run by experienced managers with proven stock-picking skills.
February 12, 2003... Gordon Davidson THE British public have had little to cheer about of late and the stream of bad news coming from the financial services industry seems endless. The Equitable Life saga has led the way but the split capital investment...

Tax-free saving then and now; Successive administrations and chancellors have found tinkering with the savings system irresistible.
February 12, 2003... Peter Shipp WHEN Prime Minister Tony Blair first arrived in Downing Street in May 1997 Peps had been around for more than 10 years and GBP38bn had been subscribed by Pep holders to a scheme then valued at around GBP46bn. Similarly,...

Guidelines on how to direct investors; Hopefully, what Isa guides lack in quantity this upcoming season they will more than make up for in quality.
February 12, 2003... THE end of the tax year is not far away and so the season of Isa guides will once again be upon us. It is likely, however, that slightly less unsolicited guides will appear than in previous years as the demand for them has decreased due to...

Suisse makes a clean sweep; Credit Suisses Bill Mott remains the IFAs favourite manager, while the firms income fund tops the Isa rankings.
February 12, 2003... Hayley Frain FINANCIAL Adviser invited 10 investment-orientated IFAs to choose their top three Isas and top three fund managers for this Isa season. Experienced stock pickers occurred most frequently among the names of popular fund...

Finding the perfect bargain; Bargains this year may be found on Oxford Street but they can also be found about a mile away, in the City.
February 12, 2003... Sue Concannon IT IS that time of year again, when the billboards advertising exotic holiday locations at railway stations and on the London Underground give way to adverts for exotic places to invest your money before the end of the tax...

Gold is showing its true value; The Merrill Lynch Gold and General Fund has topped this years charts for the best performing Isa. Graham Birch, managing director, discusses some of the reasons for its success.
February 12, 2003... by Bruce Kemble THE two funds topping the FT Fund Ratings Isa performance tables are poles apart in their approach to the markets and to investors. Top of the chart is the Merrill Lynch Gold and General Fund and hot on its heels is the...

Building a sound portfolio.
February 12, 2003... Mark Dampier PORTFOLIO construction is the key to obtaining a portfolio that fits a clients goals and constraints. What is he investing money for? If the time horizon is shorter than five years, the client should consider cash deposits...

Selecting the best Isa options; With the Isa season approaching, IFAs need to understand the risks and benefits attached to different investment choices.
February 12, 2003... Bob Riach INVESTING in an Isa concerns amounts of money invested with a long-time frame of mind. Perhaps to build up a fund for school fees, to pay off the mortgage, or to create a retirement fund. There is normally an element of...

Escaping the bear market intact.
February 12, 2003... Nick Dewhirst INVESTMENT advisers work in a world where simplification is often needed to explain complex concepts to financially-naive clients. When it comes to investment this can easily become dangerous over simplification. Since...

Forming a bond with your investors; What looks painful to the equity investor is good news for those who put their money into bonds.
February 12, 2003... James Gledhill WHEREVER you look these days in the financial press, you seems to come across a common theme corporate restructuring. This term is likely to be applied to 2003 as much as it was to 2002. What began in the wake of falling...

Cash Isa? Suits you; Small investors, without thinking too hard about it, have cash languishing in standard high-street accounts but the cash Isa is a gift not to be ignored.
February 12, 2003... By Bruce Kemble AT A time when the stock market seems to have poorer prospects than a drunken tightrope walker, it is no wonder small investors find the benefits of a cash Isa attractive. Not only is the interest paid on a cash Isa tax...

Style of an economic alchemist.
February 12, 2003... Melody Bartlett melody.bartlett@ft.com BILL Motts forecast is for a bracing season and the sickly markets are in no state to shrug the harsh climate off, according to the star fund picker. Something of an alchemist, the managing...

Youll warm to this subtle star; New Stars Theo Zemek is proud that her tentative approach is working so well, bringing strong but safe returns.
February 12, 2003... By Melody Bartlett AT FIRST glance, Theo Zemek seems to be surrounded by contradiction a star manager who works in partnership, achieving excellence in steady not spectacular growth. But it works. Ms Zemek has GBP1.3m under management...

Funds Focus.
February 12, 2003... Welcome to the FA Investment Extra statistics section for February. Every month these pages are filled with facts and figures on unit trusts, investment trusts and open-ended investment companies. The first part of the section (below) helps...

Funds Focus.
February 12, 2003... Stephen Marriott MAKING money in equity markets during recent years has been nearly impossible. The FTSE100, languishing close to the 3500 mark on 1 February, is now half its level of three years ago. However, one area of the market...

Ending funding inflexibility; Would axing the MFR spell less protection for pension scheme members?
February 12, 2003... Stewart Ritchie THERE has been a lot of talk about defined benefit schemes winding up but many schemes particularly the bigger ones will not wind up for the foreseeable future, even if some of them close to new entrants or stop future...

The bene?ts of shopping around; With annuity rates unlikely to improve, pensioners must understand that they do not have to stay loyal to their pension fund when they reach the annuity stage.
February 12, 2003... Peter Quinton FOR the past few years, most people approaching retirement have had their ears to the ground listening intently for any rumblings underfoot that could signal an increase in annuity rates. Ever hopeful pensioners have been...

Selling the argument for Sipps; When advising on Sipps it is vital IFAs adhere to clients particular needs.
February 12, 2003... John Moret SELF-INVESTED personal pensions were introduced in 1989 by Nigel Lawson, the then Chancellor of the Exchequer. They were heralded as the next stage in the evolution of the pensions industry. It was widely accepted that Sipps...

Justifiable age discrimination; In a recent case found that schemes are permitted to treat members differently on the grounds of age under both UK and European law.
February 12, 2003... Monica Ma Two recent cases have highlighted topics that are subjects for new legislation. The first considers a complaint of discrimination on the grounds of age. The complainant was a member of the Consignia Pension Plan until 1999,...

Futility of looking back in anger; The ombudsman has shown himself unwilling to side with employees who retrospectively find they have made a poor pension provision decision and seek compensation.(cases involving pension plans)
February 12, 2003... Mark Panayiotou NUMEROUS cases have been brought over the years with the intention of imposing duties on employers, administrators and pension scheme trustees to advise members on their benefits in order that they do not reach decisions...

Axa cracks down on its sales team.(Brief Article)
February 12, 2003... AXA has sacked 30 people from its 200-strong IFA sales team for underperformance and unacceptable behaviour. Steve Muir, marketing manager, said the reasons for the firings from the sales arm of Axa Sun Life included failure to write...

Life insurers battle key facts proposal; FSAs plans for consumer information revamp costly and unnecessary.(Brief Article)
February 12, 2003... By Jason Corcoran LIFE insurers are trying to head off FSA proposals to simplify consumer information that could cost them GBP110m. The regulator wants providers selling pensions, savings and investment products to replace the...

FSA backs Sandlers with profits plan.(Brief Article)
February 12, 2003... THE FSA says it backs Ron Sandlers recommendations on the future of with profits. The regulator is now seeking views on proposals arising from the Sandler Review of long-term retail savings. The review, published last year, endorsed...

Make a date with FAs annual awards.(Financial Adviser's seventh annual IFA & Provider Awards )(Brief Article)
February 12, 2003... Financial Adviser will hold its seventh annual IFA & Provider Awards on 12 May. About 300 providers and IFAs are expected to attend the event, which takes place at Quaglinos restaurant in Londons West End. FA will be handing out provider awards...

Keenan takes over BoIs UK operation.(Roy Keenan, new chief executive of Bank of Ireland)(Brief Article)
February 12, 2003... Roy Keenan has taken over as chief executive of Bank of Irelands UK financial services division. He will be in control of the group that incorporates Bristol & West, Chase de Vere Investments, MX Financial Solutions and the Bank of Irelands...

Move to ensure City continuity.(Brief Article)
February 12, 2003... The FSA is asking senior executives at financial services firms to review business continuity standards. The regulator has worked closely with the Treasury, the Bank of England and the financial services sector to raise business continuity...

Wood moved on to Russian board.(Brief Article)
February 12, 2003... RENAISSANCE Capital, Russias investment bank, has appointed Sir Andrew Wood to its advisory board. Mr Wood will replace the late Sir Michael Alexander and will work alongside Dr Abel Aganbegyan and Yegor Gaidar, former Prime Minister of...

Moving On.
February 12, 2003... Newton Asset Management has bolstered its private investment division with two senior appointments. Harry Morgan has been appointed as head of its Scottish division and Peter Henderson as a fund manager in its charities team. Mr Morgan,...

Legge up North for James Hay.(Brief Article)
February 12, 2003... JAMES Hay Pension Trustees has expanded its Scottish operations with a consultancy in Edinburgh, to be headed by David Legge. Mr Legge, who joins from Leicester-based pensions consultant Berkeley Burke & Co, will be in charge of setting up...

Moving On.
February 12, 2003... John Robbie, corporate development manager for Momentum, has been promoted to national accounts director for the company. The employee benefits consultancy created the position to give Mr Robbie responsibility for the companys national clients....

Insight targets new-to-market investors.(Brief Article)
February 12, 2003... INSIGHT Investment has rolled out an Isa proposition that targets experienced as well as new-to-market investors. The company said it had introduced the Insight Investment Focus and the Insight Portfolio Builder plans to invest in a...

IPPR calls for better Isa saving incentives; Low-income families need more encouragement to save into Isas.
February 12, 2003... By Ashutosh Kumar THE Institute for Public Policy Research has recommended that equity-based Isas be scrapped and more progressive incentives considered. It said the governments drive to encourage more low-income families to save was...

Isa investors can exploit flexibility.(Brief Article)
February 12, 2003... INVESTORS are being urged to exploit flexibility in Isa regulations and avoid stock market volatility without losing their 2002-2003 allowance. The flexibility relates to the timing of investing in stock Isa funds. Andrew Watson, director...

Warning issued over 1 per cent cap on Sandler suite; Treasury consultation on new products provokes industry condemnation of charge cap.
February 12, 2003... By Jason Corcoran THE investment industry has warned that a 1 per cent charge cap on the proposed Sandler suite could undermine the initiative. In its long-awaited consultation on the make-up of the Sandler suite of products, the...

Industry waiting for FSA.(Brief Article)
February 12, 2003... THE next move following the Sandler Review is in the hands of the FSA, according to industry experts. Now that the product details have been outlined, commentators are looking to the regulator to map out how the products will be...

Ditch stigma of stakeholder.(Brief Article)
February 12, 2003... THE Sandler suite of products will be tarnished by the name stakeholder and should adopt a new name, according to IFAs. The Sandler Review of medium to long-term retail savings, published last July, recommended the title "stakeholder...

Health check idea creates ill feelings.(Brief Article)
February 12, 2003... THE government has proposed a "stakeholder financial health check" to increase access to financial advice. It suggested the service could be benchmarked and included within the suite of products. The consultation document said this could...

Sandler suite has grown from the seed sown by Myners.(Brief Article)
February 12, 2003... The Sandler Review of medium and long-term retail savings was set up in July 2001 in response to a recommendation by the Myners Review. The consultation document came more than a year after the publication of Myners, the equivalent...

Aifa seeks funding for brokers body; Advisers Association to launch subsidiary replacing troubled Namba.(Brief Article)
February 12, 2003... By Bjorn Sodeland THE Association of IFAs is looking for sponsors to finance its separate body for mortgage advisers. Aifa is expected to launch the subsidiary unit as soon as adequate funding has been secured. It will not take money...

Wentworth Rose and Telegraph renew link.(Brief Article)
February 12, 2003... IFA Wentworth Rose and the Telegraph Group have extended the retirement service provided to daily and Sunday readers. The service enables Wentworth Rose to continue advising readers until 31 December 2006 on regulated retirement...

Go for an A-day out with ScotEq.(Scottish Equitable hosts roadshows)(Brief Article)
February 12, 2003... SCOTTISH Equitable is hosting roadshows to help IFAs prepare for A-day when the pensions green paper proposals go live. The two-hour seminars, due to be held this month, aim to mirror the governments regional green paper roadshows. Scottish...

Some Abbey bonus rates slashed to zero; Abbey National Life, Scot Mutual and Scot Provident with profits are hit.(Abbey National )
February 12, 2003... By Holly Thomas ABBEY National has cut bonus rates on with profits policies to nil in some cases. The move will affect about 1m customers of Abbey National Life, Scottish Mutual and Scottish Provident who have either a with profits...

Warning to people eager to buy abroad.(IFA Conti Financial Services issues warning and publishes guide for property buyers)(Brief Article)
February 12, 2003... IFA Conti Financial Services has issued a warning to buyers hoping to cash in on the boom in overseas properties. The Sussex-based overseas mortgage specialist said plenty of research and careful planning was needed before taking the step...

Packager attacks service standards.(Terry Markham responds to mortgage brokers and advisers survey)(Brief Article)
February 12, 2003... A CARDIFF-BASED packager has attacked sub-prime lenders for what he claims are deteriorating service standards. Terry Markham, managing director of Next Generation Mortgages, was responding to a survey conducted by the company among 200...

Ex-Britannia man joins PMI.(Eddie Smith appointed country manager for PMI Europe)(Brief Article)
February 12, 2003... EDDIE Smith, former director of Britannias now defunct lender Verso, has taken on a leading position with PMI Europe. Mr Smith, together with the rest of the top management at Verso, was made redundant when Britannia Building Society...

Brokers suffer paper overload; More than half a day spent on regulation and admin.
February 12, 2003... By Bjorn Sodeland MORTGAGE brokers are struggling to cope with the increasing burden of regulation, according to a survey. Intermediaries in the mortgage industry spend more than half their working day dealing with regulatory matters...

FMO launches network.(First Mortgage Options )(Brief Article)
February 12, 2003... FIRST Mortgage Options, the packager, has launched a mortgage network. Initially FMO will be limiting membership to 200 Mortgage businesses but it hopes to have signed up 450 members during this year. Mick Clarke, sales and marketing...

Sandler sparks Excise response.(Customs and Excise issues consultation paper on the VAT treatment of pension funds )(Brief Article)
February 12, 2003... By Holly Thomas RON Sandlers review of savings has sparked a consultation paper from Customs and Excise on the VAT treatment of pension funds. The review, published in July 2002, said: "The government considers making the playing field...

Record figures for regional society.(Stafford Railway Building Society posts increases in lending )(Brief Article)
February 12, 2003... STAFFORD Railway Building Society reported its lending has increased by 40 per cent in 2002. The society, one of the smallest in the UK, lent a total of GBP24.4m in 2002. Mike Heenan, chief executive of the society, said: "2001 was...

CML welcomes housing plan.(Council of Mortgage Lenders)(Brief Article)
February 12, 2003... THE Council of Mortgage Lenders has welcomed the governments GBP22bn plan to solve Britains housing crisis. The sustainable communities plan, announced by John Prescott on 5 February, the day before the Bank of Englands shock announcement...

T&G offers extra VCT share class; Aim VCT: C class of shares.(Teather & Greenwood introduces extra share class for venture capital trust)(Brief Article)
February 12, 2003... TEATHER & Greenwood has launched an extra share class for its Aim venture capital trust. The smaller company broker is raising GBP5m for the tax years 2002-2003 and 2003-2004 to fund a C class of shares. The extra share class will...

Government set to slam split-cap management; Split-cap industry bracing itself in anticipation of government report due out today.
February 12, 2003... By Sam Dunn A GOVERNMENT committee is to castigate the split-cap industry for losing savers money in a report due out today. Findings from the Treasury Select Committee are also likely to demand compensation be paid to retail investors...

Treasury searching for successor to Sir Howard.(seeks replacement for Sir Howard Davies )(Brief Article)
February 12, 2003... GORDON Brown has announced that the Treasury is advertising for a chairman of the FSA to succeed Sir Howard Davies. The post will be advertised in national newspapers and through the Treasury website. The Treasury confirmed that the...

Equitable Life case against Ernst & Young dismissed; High Court blocks providers attempt to take auditor to task for GBP2.6bn in damages.
February 12, 2003... By Jason Corcoran THE High Court has blocked an attempt by Equitable Life to force its former auditor Ernst & Young to pay GBP2.6bn in damages. A judge in London dismissed Equitable Lifes allegation that the accountant was liable for...

Standard Life to pay bonuses to bosses.(directors will get bonuses, but payouts to 2.3 mil policy holders have been cut)
February 12, 2003... STANDARD Life is to pay bonuses to its directors after slashing payouts for 2.3m policyholders. The insurer will reveal the bonus payments due to its executive directors Iain Lumsden, chief executive of Standard Life Investments, Alexander...

Lender aids theatre project.(Portman Building Society puts up money for production of Macbeth in Southampton)(Brief Article)
February 12, 2003... PORTMAN Building Society is supporting a project aiming to make Shakespeare more accessible to nine to 16-year-olds. The society is funding a production of Macbeth at the Nuffield Theatre in Southampton. Portman was given 20 tickets to see...

Executive drain puts pressure on Lazard.(investors respond to departure of key Lazard Asset Management fund managers by withdrawing funds)(Brief Article)
February 12, 2003... THE departure of key Lazard hedge fund managers appears to have prompted investors to withdraw funds from the company. William von Mueings resignation from Lazard Asset Management last month has been followed by those of other senior...

Advantage to expand southwards.(Advantage Mortgage Services expands lending business )(Brief Article)
February 12, 2003... ADVANTAGE Mortgage Services is expanding its north-west-based packager and branded lending business to London and the south-east. The move follows record growth figures for the business and successful expansion into the Midlands. ...

IFAs get full support from Adviser Assist.(Brief Article)
February 12, 2003... Adviser Assist offers a full range of support services to IFAs. Adviser Assist was created by Richard Allum and Ian Hunt. The firm said it allowed small and medium-sized IFA businesses access to resources usually only found in larger companies...

Starring 21st century intermediaries.(Matrix Data to hold financial intermediaries seminar)(Brief Article)
February 12, 2003... Matrix Data is to hold a seminar based on financial intermediaries in the 21st century in London on 26 February. The seminar will feature David Severn, head of retail projects for the FSA and Graeme Laws, former chief executive of National...

Millfield takes on 20 per cent of RST.(Brief Article)
February 12, 2003... IFA Millfield Partnership has acquired 20 per cent of accountants RST for GBP840,000. The deal is the first stage of an eventual takeover of RST by Millfield in 2006. RST, which is based in Richmond, north Yorkshire, has 24 accountants and six...

Appel to get his teeth into Gmac.(Gmac appoints Rober Appel chief executive)
February 12, 2003... Gmac, the mortgage lender, has appointed Robert Appel as chief executive. Mr Appel will take on responsiblity for the overall management of the residential mortgage business based at the head office in Bracknell, Berkshire, and will report...

Mortgages plc hosts packaging classes.
February 12, 2003... Mortgages plc is holding strategy workshops for the packager community. The seminars will look at regulation and other issues affecting the packaging industry. Mortgages plc has written to every packager on its database and asked for input. The...

Billingham offers IFAs a free seminar.
February 12, 2003... Consultant Phil Billingham Associates is organising a free seminar in March on depolarisation. The seminar, entitled CP166 Made Simple, is aimed at IFAs who may be weighing up their options in light of the FSAs proposals. It will be held at the...

Lloyds in talks with FSA over mis-selling of bonds; Bank faces fine over mis-selling of stock market-linked bonds under Scottish Widows brand.(Financial Services Authority)
February 12, 2003... By Jason Corcoran LLOYDS TSB is in discussions with the FSA over allegations that it mis-sold stock market-linked bonds. The bank, which sold the products under the Scottish Widows brand, is in talks with the regulator over possible...

Foresters extends charity support.(donation to Barnardos children's charity)(Brief Article)
February 12, 2003... INTERNATIONAL financial and charitable group Foresters is to extend its four-year support for childrens charity Barnardos for another three years. Foresters will donate a further GBP600,000 to the charity in addition to the GBP1m it has...

Abbey expected to consolidate brands.(Abbey National )(Brief Article)
February 12, 2003... ABBEY National is expected to unveil further consolidation of its intermediary brands. In an attempt to put the struggling bank back on its feet, Luqman Arnold, chief executive, is expected to announce substantial cutbacks in its business...

Morley turns to property; NEW PRODUCT: UNIT TRUST.(launching a High Income Property Unit Trust )(Brief Article)
February 12, 2003... MORLEY is launching a High Income Property Unit Trust in March, aiming for an annual gross yield of 6 per cent. Some 75 per cent of the fund will be invested directly in property, 20 per cent in property related corporate bonds and UK...

Luckraft repositions Framlington portfolio.(George Luckraft manager of the fund)(Brief Article)
February 12, 2003... GEORGE Luckraft has repositioned the portfolio of the Framlington Equity Income fund. Talking to IFAs in a teleconference call, Mr Luckraft, manager of the GBP36.8m fund, said he chopped the exposure to large cap stocks such as Vodafone,...

Get the complete guide to Isas with FA.(Brief Article)(Buyers Guide)
February 12, 2003... Financial Adviser provides the complete guide to the Isa season in this months Investment Extra. The Isa Special 2003, free with FA this week, features the history of tax-free saving, asset allocation and Isa guides. It surveys IFAs to find out...

Norwich Union offers army cover.(will only provide standalone life insurance coverage to military personnel who can state that they will not be placed on standby)(Brief Article)
February 12, 2003... Norwich Union has clarified its plans for life cover for armed forces personnel and will only offer mortgage life insurance. It can only offer standalone life cover for personnel who can state that they are not, and will not, be placed on...

OAP workers are healthy and wealthy.(majority of people who continued working past state pension age were healthier)(Brief Article)
February 12, 2003... People who carry on working beyond state pension age appear to be healthier, wealthier and happier, according to new research from the Department for Work and Pensions Age Positive campaign. It found that 76 per cent of men and 71 per cent of...

Equitable joiners speak out on claims.(group claims to have evidence that Equitable settled the claims of some late joiners in full)(Brief Article)
February 12, 2003... The Equitable Late Joiners Group has hit out at Equitables discrimination on settling victims claims. Neil Britten, chairman of Elag, said his group had found evidence that Equitable was settling some late joiners claims in full, while the...

FSA to monitor property fund risks.(unit and investment trusts, single property syndicates and other aspects of property fund sector will be examined)(Brief Article)
February 12, 2003... The FSA has launched a project to look at the risk to retail consumers from investing in property funds. It will cover unit and investments trusts, offshore closed-ended companies which can be incorporated in Isas, limited partnerships and...

Charging zone to hit homes; Congestion charge set to affect London house prices.(house prices could decline along border of London congestion charging zone)
February 12, 2003... By Bjorn Sodeland AREAS on the border of the London congestion charging zone could be hit by a sharp fall in house prices. Concern in the industry is growing over the impact congestion charges will have on the housing market outside...

Lenders reluctant to cut rates.(interest rates )(Brief Article)
February 12, 2003... LENDERS have shown reluctance to trim interest rates for fear of fuelling the housing boom, according to an expert. The Bank of Englands decision to cut interest rates by 0.25 of a percentage point initially brought cheers from mortgage...

House market is slowing down.(Brief Article)
February 12, 2003... THE housing market is showing signs of a slowdown according to the latest figures from the Land Registry. The average property price fell by almost GBP900 in the last quarter of 2002, from GBP146,150 in the third quarter to GBP145,251 in...

MCCB denies a small firms blitz; Small mortgage advice firms facing tighter scrutiny from regulator.(Mortgage Code Compliance Board)
February 12, 2003... By Clare Bettelley THE Mortgage Code Compliance Board has declared war on small mortgage advice firms, according to a well-informed source. The source, who asked not to be identified, said an MCCB employee had confided in him that they...

IMA refutes abolition suggestions.(Investment Management Association feels the Institute of Public Policy Research suggestions on ISAs are misguided)(Brief Article)
February 12, 2003... THE Investment Management Association has dismissed as "misguided" suggestions that Isas should be abolished. Fund management companies Isis, Credit Suisse Asset Management and Framlington have also criticised the Institute of Public Policy...

IFAs advised to make time for love.(forgetting birthdays and anniversaries)(Brief Article)
February 12, 2003... VALENTINES Day is a perfect opportunity for IFAs to remind their partners they are loved. It comes hot on the heels of a report that financial professionals are forgetting their anniversaries through overwork. A study by the Co-operative...

Revenue changes its stance.(Inland Revenue alters policy on allowing pension plans to buy commercial property)(Brief Article)
February 12, 2003... THE Inland Revenue has done a U-turn on its proposal to ban Sipps and SSASs buying commercial property. In the pensions green paper it called for feedback on "restrictions that should apply to loans to employers, loans to self-invested...

Bank of Scotland launches deposit account for SMEs; Deposit account guarantees small businesses with GBP50,000 to spare returns at money market rates.(small- and mid-sized companies targeted)
February 12, 2003... CLARE BETTELLEY clare.bettelley@ft.com Bank of Scotland has set up a new account for small and medium-sized businesses. The Guaranteed Fixed Deposit account is available to businesses with GBP50,000 or more to invest over terms of...

Dampeners put on scheme to fire up entrepreneurs.(UK small business minister Nigel Griffiths' enterpreneur mentoring program criticized)(Brief Article)
February 12, 2003... An ONLINE government scheme designed to champion young entrepreneurs has been criticised by an industry trainer as a contradiction in terms. Peter Bennett, managing director of training and consulting firm Questionbank Management, said:...