IFAonline News

Midas begins fund rationalisation

Wed, 01 Jul 2009 09:45:00 GMT

Midas Capital is beginning its fund rationalisation programme, bringing its Miton and iimia ranges together through a series of mergers.

Aberdeen completes £297.6m Credit Suisse deal

Wed, 01 Jul 2009 09:30:00 GMT

Aberdeen has completed the final closing on its Credit Suisse acquisition, creating a £133.1bn asset manager.

Tesco could bid for Northern Rock - papers

Wed, 01 Jul 2009 09:30:00 GMT

Tesco has emerged as a potential bidder for Northern Rock as the Government races to sell the state-owned lender before a general election, The Times has learnt.

JPM launches multi-asset income fund

Wed, 01 Jul 2009 09:20:00 GMT

J.P. Morgan Asset Management has launched a new multi-asset income fund, with a target gross yield of one-month Libor +2.5% over a five-year cycle.

Blue Sky products safe from latest Keydata saga - Taylor

Tue, 30 Jun 2009 17:30:00 GMT

Blue Sky Asset Management CEO Chris Taylor says the major problems engulfing Keydata will not affect his business.

Consumer confidence knocks Dow

Tue, 30 Jun 2009 16:00:00 GMT

The Dow Jones fell 100.59 points (1.18%) to 8428.79 this morning, after the Conference Board announced its consumer sentiment index slid to 49.3 in June, from 54.8 last month.

Banking regulation 'essential' - Lord Turner

Tue, 30 Jun 2009 16:00:00 GMT

The FSA's chairman, Lord Turner, has warned bankers radical changes in regulation are essential in order to avoid future crises.

SIPPs are RDR-proofed - Defaqto

Tue, 30 Jun 2009 15:50:00 GMT

SIPPs are future-proofed and will prove robust in the post-RDR world, according to Defaqto.

Employers rake in savings as DB declines

Tue, 30 Jun 2009 15:30:00 GMT

Employers are saving up to £4.53bn a year in pension contributions as millions of employees withdraw from final salary schemes, MGM Advantage research reveals.

Sesame in talks to buy Bankhall and PMS

Tue, 30 Jun 2009 14:25:00 GMT

Network IFA Sesame has confirmed it is in talks with Skandia to acquire its Bankhall and Premier Mortgage Services (PMS) businesses.

Keydata can't be sold as a whole; Secure Income funds disappear

Tue, 30 Jun 2009 14:25:00 GMT

Keydata cannot be sold as a whole as potential issues have come to light including the fact some 5,500 investors in seven Secure Income plans will be told their assets have been 'misappropriated'.

IFA bemoans 'scarce' run-off cover in long-stop absence

Tue, 30 Jun 2009 14:00:00 GMT

An influential adviser is calling on insurers to increase the availability of Professional Indemnity (PI) run-off cover to ease fears over delayed complaints.

Get your CPD points here

Tue, 30 Jun 2009 14:00:00 GMT

IFAonline's print title Professional Adviser has linked with the Institute of Financial Planning (IFP) to allow advisers reading the publication to accrue CPD points.

House prices rise by 1.1%

Tue, 30 Jun 2009 12:10:00 GMT

House prices in the UK rose by 1.1% between the first and second quarter of this year, according to new statistics.

UK accounts frozen in Stanford investigation

Tue, 30 Jun 2009 12:00:00 GMT

The Serious Fraud Office (SFO) says it has frozen $100m of assets in London in connection with Sir Allen Stanford's suspected $7bn fraud.

Chief ombudsman Merricks to step down

Tue, 30 Jun 2009 11:50:00 GMT

Chief financial ombudsman, Walter Merricks, has announced hill be step down, after ten years with the Financial Ombudsman Service (FOS).

Midas completes bank debt restructure

Tue, 30 Jun 2009 11:21:00 GMT

Midas Capital has issued almost 12.25m new shares to Bank of Scotland (BoS) as part of the restructuring of its debt with the bank.

OECD says UK faces 'double' downturn; hedge funds attacked

Tue, 30 Jun 2009 10:30:00 GMT

A continuing drought in bank lending, evidenced in the latest figures from the Bank of England, and the threat that spiralling public borrowing will feed through to higher interest rates and inflation, are judged by international economists to be mortal dangers to a sustained recovery.

Utilities weigh heavy on FTSE

Tue, 30 Jun 2009 09:00:00 GMT

Utility companies are an early drag on the FTSE 100 this morning, driving the index down 6.07 points (0.14%) to 4,287.96.

With-profits investors 'unhappy' with funds

Tue, 30 Jun 2009 08:00:00 GMT

A majority of with-profits investors are unhappy with the performance of their fund, and more than one million say they will not invest in with-profits again, according to Managing Partners Limited (MPL).

Fraudster Madoff given maximum 150 years

Mon, 29 Jun 2009 17:15:00 GMT

Fraudster Bernard Madoff was today given the maximum prison sentence of 150 years for conning investors out of $65bn (£40bn).

AIFA calls for greater workplace retirement advice

Mon, 29 Jun 2009 16:20:00 GMT

More needs to be done to promote retirement planning advice in the workplace, according to a new report from AIFA.

Sesame demands RDR factoring re-think

Mon, 29 Jun 2009 16:15:00 GMT

Sesame is urging the FSA to revisit proposals in last week's RDR to ban provider factoring.

Net retail fund sales up 37% in May

Mon, 29 Jun 2009 16:00:00 GMT

UK net retail fund sales climbed 37% in May, up to £2.84bn for the month.

Auto-enrolment unlikely to solve pensions crisis - OECD

Mon, 29 Jun 2009 15:30:00 GMT

Auto-enrolment is unlikely to have a dramatic effect on pension saving in the UK, according to the OECD's head of pension policy analysis, Edward Whitehouse.