You are here: cherry > Latest news stories

Latest news stories

The latest news - always available on cherry Cherry

Mainly mortgage news…

Comment: Fortune comes in various guises

Yesterday

For the time being, remortgage activity will continue to secure the market – so are you making the most of that activity? Unless you are one of life’s eternal optimists, you will probably not be feeling too positive about 2017. Sure, we will probably not have a year as difficult as 2016, but we are […]

The post Comment: Fortune comes in various guises appeared first on Mortgage Strategy.

Your Views

Yesterday

Retention proc fee dam is starting to give way… Regarding the news that Coventry Building Society will be paying retention proc fees this year – as it has been reducing rates and paying £250 cashback to existing customers who switch rates, it is only fair that it is supporting its brokers by paying retention proc […]

The post Your Views appeared first on Mortgage Strategy.

Comment: Opportunity knocks for innovation

Yesterday

This year should bring opportunities for specialist lenders, many of which want to fill the gap in limited company BTL Despite obstacles such as the Mortgage Credit Directive and buy-to-let changes…

Property 118 launches free landlord tax tutorials

Yesterday

Landlord group Property 118 has launched a range of free tax tools and tutorials for landlords. The tutorials include information on tax planning opportunities, understanding limited company incorp…

Aldermore now needs one year’s accounts for self-employed

Yesterday

Aldermore has eased its self-employed lending criteria by changing the minimum accounts a borrower must provide from two years to one. The lender says residential mortgage applications should be ac…

Peter Williams to leave IMLA this year

Yesterday

Intermediary Mortgage Lenders’ Association executive director Peter Williams will leave by the end of 2017. Williams is stepping down to concentrate on a non-executive director role at Vida H…

Moneyfacts: Building societies beating banks on rate war

Yesterday

Building societies are winning the mortgage rate war against banks, according to new figures from Moneyfacts. Moneyfacts found that building societies offered cheaper average rates than banks on al…

Castle Trust relaunches mortgage proposition

Yesterday

Castle Trust has relaunched its mortgage proposition to make it easier for brokers to do business with the lender. The relaunch involves clearer website navigation and information. Castle Trust has…

Market Watch: Which way for UK house prices?

Yesterday

The ONS says house prices rose by 6.7 per cent in the year to November – but Rics believes price growth is weakening Trump is about to create an administration that will have ramifications for all of us. For the US he will no doubt be incredibly pro-business, pro-tax cuts and pro-military might. Whether this […]

The post Market Watch: Which way for UK house prices? appeared first on Mortgage Strategy.

Lloyds hit in international cyber attack

Yesterday

A cyber attack by an international criminal gang saw Lloyds Banking Group customers temporarily unable to access their accounts online. The Financial Times reports several high street banks were hi…

Mainly IFA news…

Jack Rose: How to spot a good VCT manager

Yesterday

<!-- summary --> Advisers and their clients need to be on top of their VCT research and due-diligence and complete it as soon as possible this year, warns Jack Rose, as it is likely the best offers will fill well before the end of March <!-- end-summary -->

Nick Train issues ‘sober’ warning on trust performance

Yesterday

Nick Train has issued a ‘sober’ warning to investors, stressing that the Lindsell Train investment trust (LTIT) is trading on a ‘meaningful’ premium and its continued outperformance ‘cannot be guaranteed’.

FE's Crown Ratings rebalance: Strategic bond funds 'struggle to add value'

Yesterday

<!-- summary --> The latest bi-annual rebalance of FE's Crown Ratings has seen the IA Sterling Strategic Bond sector come out worst in terms of the number of top ratings, with only three funds in the sector gaining five Crowns. <!-- end-summary -->

HMRC updates GAD tables triggering drawdown limit changes

Yesterday

Gilt yields lower limit moved from 2% to 0% meaning the calculation numbers for capped drawdown will change.

Regulation cost biggest threat for advisers, PFS survey finds

Yesterday

The cost and uncertainty surrounding regulation is the biggest threat to advice firms, according to the results of a PFS survey.

Cost of regulation still biggest threat to advisers - PFS

Yesterday

<!-- summary --> Cost and uncertainty of regulation remain the biggest threats to adviser businesses, according to a survey from the Personal Finance Society (PFS). <!-- end-summary -->

Fairstone bolsters Yorkshire presence with adviser acquisition

Yesterday

<!-- summary --> Fairstone has bought Wakefield-based workplace adviser Lofthouse Gate, representing its fifth deal in three months. <!-- end-summary -->

Meet the Investment Influencers: Scottish Widows' Jon Beckett

Yesterday

<!-- summary --> In this week's video interview for Professional Adviser's Investment Influencers series, where editorial director Lawrence Gosling chats with the most respected individuals who select funds, decide ratings or otherwise influence the allocation of investor fund flows, we hear from Scottish Widows senior manager Jon 'JB' Beckett. <!-- end-summary -->

40% of asset managers unprepared for Mifid II unbundling

Yesterday

Many asset managers are ill-prepared for the unbundling rules that are due to come into force in a year's time.

Kymin Financial Services launches robo-advice tool

Yesterday

<!-- summary --> Kymin Financial Services has launched Kymin Direct, an automated online investment service for clients with between £1,000 and £50,000 to invest. <!-- end-summary -->

DeVere launches private bank

Yesterday

<!-- summary --> Independent financial adviser deVere has launched its own private bank, catering for private clients and small businesses. <!-- end-summary -->

FTSE falls as Trump fears send dollar lower

Yesterday

Resurgent pound hits internationally-focused FTSE 100 as fears over Donald Trump's presidency spark dollar sell-off .

Scottish Widows removes early exit fees

Yesterday

<!-- summary --> Scottish Widows has removed its early exit charges on all personal pension policies, including workplace pensions. <!-- end-summary -->

Scottish Widows scraps early exit pension charges

Yesterday

Scottish Widows will scrap all early exit charges on pensions ahead of a Financial Conduct Authority cap due to be introduced in March.

Ex-Aifa director Stephen Gay joins savings body

Yesterday

Stephen Gay and Renny Biggins both join the savings membership organisation.

'Let's NOT do lunch': Donate to Cancer Research UK instead

Yesterday

<!-- summary --> Lawrence Gosling explains why Professional Adviser is supporting the wealth management industry's CASCAID charity campaign to raise £1m for Cancer Research UK - and today's 'Let's NOT do lunch'event <!-- end-summary -->

UK dividends hit record in Q4 thanks to weaker sterling

Yesterday

<!-- summary --> A weaker pound following the Brexit vote in June led to UK dividends reaching £84.7bn in 2016, including a record fourth quarter. <!-- end-summary -->

Top FCA lawyer quits for multinational law firm

Yesterday

The Financial Conduct Authority's top lawyer is leaving to join a multinational law firm.

Adviser noticeboard: Post-it note size stuff for IFAs

Yesterday

<!-- summary --> It's Professional Adviser's weekly heads-up on events, hires and other useful bits for financial advisers… <!-- end-summary -->

Pension funds overestimate payment costs by £25bn

Yesterday

Pension scheme members will die four months’ earlier than expected, according to a study that shows pension funds have overestimated the cost of future retirement payments by £25 million.

Mainly insurance news…

Tokio Marine Kiln adds drone insurance to online platform

Yesterday

Insurer says product is immediately available on its One TMK digital exchange and features a newly enhanced policy wording.

Brokers more upbeat as profits returned to positive growth

Yesterday

CBI/PwC Financial services survey also saw growth in business volumes strengthen over the quarter.

Warning of tens of thousands of UK jobs losses from personal injury legal reforms

Yesterday

Consultants state job cuts will stretch across the UK but especially in the South East and cities such as Manchester, Liverpool and Sheffield.

Transactor adds Broker Direct to panel

Yesterday

Users gain access to home insurance scheme.

CBI/PwC: Competition bigger threat than Brexit for insurers

Yesterday

Insurers continue to target investment in technology to bring in new customers and improve efficiency.

#Insagepeople: 23 - 29 January 2017

Yesterday

Keep up to date with the latest people moves.

Venture Insurance buys Poole Martin

Friday

The deal will take Venture’s GWP up to £13m a year.

Meet the techies: Nicholas Phair

Friday

REG UK programme manager Nicholas Phair tells us how technology can elevate broking to new levels of efficiency.

Quizzical questions: 20 January 2017

Friday

Test your knowledge of the week's news with our topical quiz.

Applied Systems to double its headcount in Brighton

Friday

Software house sees opportunities to grow in the UK as it launches Applied Epic later this year.

Broking Break: Your top five of the week

Friday

Two major insurer restructures, CEO changes, swapping software houses and a new product make up this week's most read stories.

Zurich restructure puts 240 people at risk of redundancy

Thursday

The insurer has begun consultation with employees as it proposes to remove jobs from the UK as the business is restructured.

SSP explains power outage

Thursday

Software house stresses the issue was not caused by its Pure platform.

Further disruption on SSP's Pure platform

Thursday

The software house acknowledged that a further issue had occurred.

Aviva reorganises to bring general insurance, health and life together

Thursday

The move will not impact brokers working with its UKGI business and Colm Holmes remains UKGI CEO.

Axa rolls out minifleet on Open GI and Applied Systems

Thursday

Policy can cover up to 15 vehicles at inception.

Startupbootcamp InsurTech announces startup in residence

18 Jan 2017

French start-up CBien appointed to advise its 2017 programme and may look to enter UK market.

A-Plan moves from SSP to Acturis for commercial

18 Jan 2017

Broker already in deal with Applied Systems for personal lines.

Biba welcomes PM’s speech on Brexit

17 Jan 2017

Trade body pleased with strategy articulated by Theresa May and her preferred direction of travel.

Theresa May to seek phased approach to exiting Single Market

17 Jan 2017

PM says negotiations will be for Free Trade Agreement.

Mainly international news…

Rising volatility likely to dominate multi-asset income return

Yesterday

Eugene Philalithis, portfolio manager for Fidelity’s Multi Asset Income Fund, listed the risks on the horizon as including a more aggressive US Federal Reserve, continuing political uncertainty and questions...

73-year-old London broker jailed in £1.2m Ponzi scheme

Yesterday

According to UK newspaper the Daily Mail, Stephen Greig, who was 73 years old when he was sentenced on Friday, persuaded people to invest up to £500,000 in fictional investments that offered a 7.5% return....

Gibraltar ups due diligence for stock exchange approval

Yesterday

The exchange introduced the measure on Monday as it believes investors value third party due diligence and research for its independent view of a company's potential and/or actual performance; valuation...

South African IFA firm kicks off adviser internship programme

Yesterday

According to the firm, it recruited 28 “high achieving” university graduates across South Africa, after a rigorous recruitment process – all of whom have enrolled on the Carrick’s 2017 foundation training...

Regulatory costs the biggest challenge facing advice firms

Yesterday

Three quarters of advisers said the impact of regulatory and compliance costs were their primary concern, up from 72% in 2015 and 67% in 2014. It marks the fifth consecutive year that these costs have...

UK advisers to recruit as more pass £1m income barrier

Yesterday

The financial advice market continued to show healthy signs of growth in 2016, Aviva’s Adviser Barometer found. The income of over 30% of advice firms passed the million pound barrier, compared with...

deVere launches private bank following St Lucia acquisition

Yesterday

According to a statement on Monday, the firm said its new banking operations, called deVere Group Bank St Lucia, has been “facilitated by the acquisition” of the locally-based Arton Bank. “Whilst we...

Pictet targets robotics in latest fund launch

Yesterday

Lingen, who spoke to our sister publication Fund Selector Asia in Hong Kong, co-manages with Karen Kharmandarian the Pictet Robotics Fund, which has about $2.6bn (£2.1bn, €2.4bn) in assets. The fund...

US corporate tax cuts not priced in, says Standard Life Investment

Yesterday

Milligan said corporate profits in the country are expected to grow 5-15% on average this year. “Towards the end of last year, we started to see an improvement in company profits in many countries...

Using Qnups in retirement wealth planning

Yesterday

Wealth management and pension planning may not always go hand in hand, often based on the logic that pension benefits are out of kilter with the long-term financial aspirations of the wealthy. Indeed,...

Talib Sheikh on the bespoke nature of JPM’s income fund

Yesterday

It seems inevitable 2016 will be defined as a momentous year, both politically and economically. It will surely go down as the most explosive 12 months since 2008 and the tribulations of the global financial...

97% drop in FCA fines not a return to light touch regulation

Friday

Speaking at the Practising Law Institute on Thursday, Steward said that the FCA and its predecessor the Financial Services Authority levied more than £3bn ($3.7bn, €3.5bn) in financial penalties in the...

Beneficial ownership data requests may breach UK legal rights

Friday

Firms that advise clients on setting up offshore companies and trusts may soon receive letters from HMRC requesting information on their beneficial owners. The letters will precede formal notices that...

Trump’s treasury pick fails to disclose $100m in assets

Friday

According to the New York Times, the revelation came to light on Thursday, hours before the former Goldman Sachs banker testified before the Senate Finance Committee and a day before Trump’s inauguration....

ECB remains in wait-and-see mode as inflation picks up

Friday

Inflation in the Eurozone reached a two-year high in December, hitting 1.1%. While Draghi said at today’s press conference that “inflation is likely to pick up further in the medium term”, he also stressed...

Zurich cuts 240 jobs from UK under restructure plan

Friday

The jobs will be shed from its UK business as the company undergoes a more than $1bn (£690.3m, €879.9m) cost cutting and efficiency drive that will impact around 8,000 of Zurich’s 55,000 employees by the...

PEOPLE MOVES: Fidelity Intl, StanChart, US SEC

Friday

Fidelity International Fidelity International's Beijing chief representative, Jackson Lee, has been appointed country head of China. Lee joined Fidelity in 2010 and has worked in China for six years....

Impax AM sees Asia environmental opportunities

Friday

“In the context of the weakness of the Eurozone and uncertainty about president Donald Trump’s policies, the Asian region is potentially emerging as one of the leading areas for environmental opportunities...