Money Management articles from July 2009

Money Management archives from July 2009

Secret societies?
July 1, 2009... Byline: Joe McGrath Building societies like to promote their mutual status as a benefit, but many have been forced into mergers in recent months. Joe McGrath asks how strong they really are and considers where the next casualty may come...

Getting ahead of the game.
July 1, 2009... Embracing (not so) new technology made a huge difference to IFA Trevor Harrington 's business so much so that he successfully sold it last year. It would be wonderful if IFAs were able to design their business models in such a way that,...

Versatile SSAS is under-used.
July 1, 2009... Byline: John Chapman Combining corporate planning ruses with pension saving makes SSASs potent weapons, says John Chapman Small self-administered schemes (SSASs) appear at first sight to be simply niche pensions for small firms. But...

Taking stock - does diversification work?
July 1, 2009... Former investment banker Russell Taylor asks if recent history shows that portfolio diversification helps investors Those brave enough to invest after the financial panic of last autumn, and the economic collapse that followed, have done...

A dead cert?
July 1, 2009... Specialist products such as self certified and fast tracked mortgages have been identified as villains. Laverne Hadaway wonders if there is any future for that sector of the market? Mortgage brokers were not the only ones to come under...

Transparently obvious.
July 1, 2009... Byline: Janet Walford OBE At the time I was writing this column, the High Court had still not announced its decision in the FSA vs ICO case regarding the principle of confidentiality and the naming of the Lautro offices. The decision...

Is the price right?
July 1, 2009... Byline: Geordie Clarke Income protection is often touted as one of the most important elements of financial planning, yet awareness of it remains low. Geordie Clarke surveys the market to find out why Income protection is proving a...

With profits special: endowments and bonds update.(Survey)
July 1, 2009... Byline: Gareth Shaw The latest with profits results are out and, although returns are down, they still stand up well against the competition, finds Gareth Shaw No financial product has been excoriated more in the past decade than...

Advisers in commission sacrifice.
July 1, 2009... Byline: Geordie Clarke Lack of notification catches IFAs unaware of remuneration cuts Changes to the way that Living Time calculates commission on its Income Plan have left advisers frustrated and out of pocket. Living Time altered...

Statistics - July 2009.
July 1, 2009... Byline: Gareth Shaw Click on any of the links below to view this month's statistics in a PDF file UK Registered Investment FundsUK Registered Investment Funds Investment Trusts Investment Trusts Insurance Funds Insurance Funds...

SIPPs - flying solo.
July 1, 2009... Byline: Mike Morrison It has been two decades since the SIPP was created. Mike Morrison, head of pensions development at AXA Winterthur Wealth Management, looks at their creation and how they have evolved Personal pensions first...

Discretionary trusts and dividends.
July 1, 2009... The consequences for trustees of discretionary trusts distributing income to beneficiaries just got worse with this year's Budget, says Marcia Banner There are already some horrendous consequences for the trustees of discretionary trusts...

Here to stay?
July 1, 2009... Byline: Paul Hudson Short term IP products have been developed to fill the gap in the market left by the demise of PPI. Are they the answer, asks Paul Hudson, chief executive of Cirencester friendly society? There is a lot of talk...

Coming into its own.
July 1, 2009... Byline: Justin Harper Shunned for many years as complex, time consuming and expensive, is now the time for income protection? Justin Harper, head of strategic marketing at LV=, examines the future of IP An income is the keystone to...

Life - but not as we know it.
July 1, 2009... Why are sales of the infamously expensive over 50s plans soaring, when those of other types of protection are falling? Helen Pridham looks for an answer Swiss Re's Term and Health Watch 2009 report showed that most life products suffered...

Disclose annuity charges.
July 1, 2009... It is impossible to judge whether annuitants are getting a fair deal, says Harry Carnell. What we need is more transparency Each year over 400,000 people are forced to buy annuities without having the faintest idea whether they are getting...

PADA investment consultation too narrow.
July 1, 2009... Instead of a wide debate on reducing money purchase risks, PADA leaders seek a dialogue with fellow fund managers, laments John Chapman The proposals from the Personal Accounts Delivery Authority (PADA) on investment mechanisms for Personal...

Deferring State pensions.
July 1, 2009... Deferring the State pension gives an increase of 10.4% pa. Is it as good as it looks? Janet Walford OBE investigates The basic State pension is one of the few benefits that is not means tested. So everyone who has paid enough NI...

Scot Prov's Highland fling.
July 1, 2009... Byline: Gareth Shaw Scottish Provident's Susan Barclay and Emma-Louise Fernandes scaled the terrifying heights of Ben Lomond mountain in Scotland on 20 June, raising over GBP1,000 for Macmillan Cancer Support. Scottish Provident's...

Financial Planner of the Year 2009.
July 1, 2009... Byline: Janet Walford OBE Closing date for entries Wednesday 15 July 2009 Now in its 14th year, the annual Money Management Financial Planner of the Year awards - dubbed the "Oscars of the financial services industry" by the BBC...

Key person gap now at GBP400bn.
July 1, 2009... Byline: Joe McGrath Business protection figures show huge shortfall There is a shortage of key person protection insurance in the UK to the value of GBP400bn, according to the first survey of its kind from Legal & General. The...

Powershares capitalises on Lyxor delistings.
July 1, 2009... Byline: Joe McGrath But new launches are ruled out in the short term EXCLUSIVEInvesco Powershares has witnessed inflows of GBP12m to its FTSE RAFI US 1000 ETF following Lyxor Asset Management's announcement that is delisting 12 of its...

LVAM starts legal process for CS funds.
July 1, 2009... Byline: Joe McGrath LV's expansion of retail operation looks imminent EXCLUSIVE LV Asset Management has moved a step closer to acquiring the GBP800m Credit Suisse Income fund range, having begun due diligence to assess the worth of the...

NIS rolls out business saver.
July 1, 2009... Byline: Geordie Clarke New account for firms launched by building society Newcastle Intermediary Services (NIS) is launching a suite of corporate deposit accounts aimed at small firms. Having been in the works for the past few...

PruProtect surveys group risk.
July 1, 2009... Byline: Geordie Clarke Insurer rumoured to be eyeing up employee benefits market EXCLUSIVE PruProtect has informally surveyed IFA opinions for product suggestions and is believed to be sizing up the group risk market for a potential...

Top 15 stories online.
July 1, 2009... Byline: Gareth Shaw Most read Money Management content online from 16 May - 15 June 2009 1) Hundreds lose FOS payout as claims firm goes under (Joe McGrath) 2) Revealed: Building societies' highest paid directors (Joe McGrath) ...

Turner urges Solvency II UK allowances.
July 1, 2009... Byline: Gareth Shaw FSA chief says new European regime must recognise British insurance differences Cross border regulation and the implementation of the Solvency II rules will need to take into account the unique business that British...

Calming influence.
July 1, 2009... Byline: Geordie Clarke Structured products In a move to attract the most cautious investors, NDFA is offering a deposit plan with full protection under the FSCS. Additionally, NDFA has released its latest Defined Income Plan, paying...

Life in Tokyo.
July 1, 2009... Byline: Gareth Shaw Japanese funds Fears of Japan becoming embroiled in the global economic crisis so soon after its own financial meltdown seem to have been allayed in recent weeks, making Jupiter Asset Management's new launch an apt...

Adviser speaks out against S&P apathy.
July 1, 2009... Byline: Lindsey White An adviser has spoken out against Standard & Poor's for what he believes is its short sighted volatility ratings. The criticism comes after Whitehall Financial Independent received a complaint from a client whose...

Who's next?
July 1, 2009... Byline: Lindsey White Will another friendly follow in Nottingham's footsteps? Nottingham's struggle to remain solvent raises questions about how other friendly societies are holding up in the credit crunch. Holloway Friendly...

N&P hires worldwide brand agency.
July 1, 2009... Byline: Lindsey White Norwich based mutual splashes out on new image despite downturn Norwich & Peterborough paid for a major rebrand with one of the world's leading advertising agencies, despite the recession taking a serious toll on...

Asia Pacific fund launch.
July 1, 2009... Byline: Lindsey White Cavendish introduces fifth equity fund in a month Cavendish Asset Management launched an Asia Pacific equity fund on 15 June 2009. The fund will invest in a diversified portfolio of equities within the Asia...

With profits stand firm in downturn.
July 1, 2009... Byline: Gareth Shaw Often described as the dinosaurs of the investment world, with profits endowments have maintained strong payouts throughout the recession. Latest research from Money Management magazine shows that the average with...

Abbey Life under fire over service.
July 1, 2009... Byline: Gareth Shaw An adviser has branded his treatment by life assurance and pensions specialist Abbey Life as "farcical" after the company took almost two months to supply details of retirement benefits for his client. John...

BSA defends mutual directors' pay.
July 1, 2009... Byline: Joe McGrath EXCLUSIVE The Building Societies Association (BSA) has moved to defend its members after Money Management revealed that directors of the UK's building societies took home payouts of over GBP38m last year. Nationwide...

Long stop fight continues.
July 1, 2009... Byline: Gareth Shaw Human rights committee and FOI request battle on two fronts The Joint Committee on Human Rights (JCHR) has vowed to pursue justification for the lack of a long stop for financial complaints, after its recent demand...

A pathway for the people.
July 1, 2009... Byline: Gareth Shaw Infrastructure funds With sovereign debt at its highest levels and the banks still reluctant to lend money for infrastructure projects, Gravis Capital Partners hopes to plug a gap in the market with its latest...

Russian into the UK.
July 1, 2009... Byline: Geordie Clarke Equities Julius Baer is passporting its Russia fund into the UK to capitalise on recovery in that country's markets. Originally launched on 30 June 2008, the Julius Baer Russia fund is an offshore,...

History repeats as friendly fends off insolvency.
July 1, 2009... Byline: Lindsey White Why didn't the regulator step in? "We are facing some very serious solvency issues and the FSA is increasingly unhappy with our situation. We have not met our statutory solvency for eight years." This...

Tech care.
July 1, 2009... Byline: Joe McGrath IFA networks are employing technology to navigate FSA pension requirements, Joe McGrath, finds out why IFA networks have begun implementing pension transfer systems to help log client audit trails, ahead of the...