All Commentaries
Time for Life Settlement Funds to grow up?
July 28 2010
High, smooth, uncorrelated, and risk free returns. Sound familiar? Sounds like a life settlements promotion to us. Only a handful of years ago few IFAs were even familiar with longevity as an asset class, now retail money is pouring in like there's no tomorrow.
more...
MoD must stop living beyond its means
July 26 2010
The BBC has reported that the NAO, the independent body that monitors government spending, said the MoD had a tendency to revise up each annual budget as the year progressed. more...
Cocking a CNOOC?
July 23 2010
At the time of writing this, the BP gusher appears to have been capped. If true and sustained, then in Churchillian terms this is "Not the end. It is not even the beginning of the end. But it is perhaps, the end of the beginning", because this is just the stopping of the core damage and nowhere near the stopping of the financial damage. It seems almost inevitable that the BP we know today won't be the same BP this time next year. From where we are and what we know today, BP is unlikely to go bust, unless this 'spill' becomes an unstoppable flow. more...
Double dipping?
July 21 2010
I always thought that a double dip was some terrible faux pas at a cocktail party with limp celery and the warm houmus. Now I know better – it is of course a non specific economic term that appears to have now become common parlance. It certainly has little precision, as some imply that it could mean a dip back into recession and others that it is a mere slowdown. Either way though it seems to be talked about in the terms that imply that only dark days and doom lie ahead. more...
Barry's blog
July 21 2010
In speaking with a number of advisers recently it's clear that an increase in wrap research is now being carried out following the latest RDR papers which were published in the spring. Not only are the due diligence questionnaires we regularly receive here at Nucleus HQ becoming longer and more detailed, they are also beginning to focus on much wider elements of the wrap proposition. more...
Is this any way to run a ballroom?
July 19 2010
Despite Hector Sants stating at the FSA AGM in June that the £430m RDR would go ahead, the FSA considered scrapping the retail distribution review at a board meeting in March but decided to push on with plans for fear of "losing face". That is according to Lansons director of regulatory consulting Richard Hobbs in a report by Natalie Holt in last weeks MM. more...
CI Transformation and the role of the adviser
July 19 2010
Critical illness insurance has been undergoing a gradual transformation, which may have escaped the attention of casual observers. During the 1990s the product providers were caught up in a numbers game where new conditions were constantly being added, seemingly with the sole intention of appearing superior through the sheer volume of conditions.
more...
Moneyinfo gives advisory firms the online advantage for the first time
July 12 2010
PanaceaIFA is pleased to tell you about Moneyinfo, a totally new kind of online client service. It's portfolio plus bank accounts and credit card reporting all rolled into one. It's the first service that provides your clients the ability to view their 'whole financial life' in one place. And they can only get it from you, their adviser. more...
AEGON - Protect your offshore clients against market volatility
July 8 2010
If you have clients who want to invest in equities but are concerned about market volatility, our new Protected Fund Range can offer them growth and security. What is it? It's a range of six fund portfolios covering different equity markets, including North America, Europe, Japan, Asia (ex Japan), the UK and global emerging markets.
more...
Passion for fairness??
July 8 2010
The Sunday Times this weekend carried an advertisment for FOS Ombudsman position/s at a salary of £64,000 plus benefits. The organisation describes itself as a Statutory not for profit organisation with a commercial focus, professional rigour and a "passion for fairness". more...
A careful balancing act
July 8 2010
I am very grateful to an old friend, Jonathan Davis, for an excellent column in last week's FTfm in hich he addressed the issue of portfolio rebalancing. This might sound a somewhat tiresome and technical subject but it is actually one of the fundamental elements of effective and disciplined portfolio management. In his article (which might well be better reading than mine) he quotes the well regarded US fund management group Vanguard who have various research papers on this subject. more...
IFA letter of the week
July 8 2010
Prevention is better than cure... We're an irrational bunch - investors that is. We always will be; we can’t be cured. We seem to go out of our way to destroy our long term wealth prospects. We bottle it when markets fall, sell and then miss the recovery. A passive or active strategy - it doesn't matter, our irrational more...
Growth and inflation, or is it a double dip and recession?
July 5 2010
I recently wrote a note on inflation which came to the conclusion that, despite the policy of aggressive monetary easing in the long term representing a risk to higher prices, in the near term the risks of deflation had risen. more...
Butcher or Surgeon - and how much collateral damage?
July 2 2010
It's obviously still too early to say whether Osborne's budget has been a success or not, and sadly of course we will never know until its effects are well under way. As certain highly respected commentators have mentioned, cutting too deep into the economic body could injure some vital organs and cause further unintended damage, but too little and firm confidence in the control of the economy will ebb away. more...
IFA letter of the week
July 1 2010
CGT dilemma for those not keen on multi-manager funds - By Jeremy Askew, Conduit Financial Solutions. Investment and financial planners often ignore multi-manager funds because they do not believe they offer value for money. Where the manager is providing real value it's hard to argue against them. more...
Gartmore news in brief
July 1 2010
The Chinese Yuan to move freely. After months of speculation, the Chinese government has announced its plan to allow its currency to move freely. Charlie Awdry, Manager of the Gartmore China Opportunities Fund, considers the repercussions of such a move for the markets and his Fund.
more...
USA today, UK tomorrow?
June 30 2010
Social media, the next big wave for financial advisors? In light of the recent FSA Industry Update number 5 on Social Media and financial promotion rules, the take on social media from across the 'pond' is somewhat different. more...
Corporate and Political Hypocrisy
June 25 2010
What started as a corporate mess has quickly become a political quagmire for BP. The result has been not just a financial disaster but a reputational one as well. It is too early to be able to write the history of this disaster with the suitable amount of perspective, after all there is still going to be much to unfold over the coming months. more...
Big brother is watching you
June 25 2010
Twitter, Facebook, LinkedIn, iPhone apps, forums, blogs - what do they have in common? Simple really and of course "soooo" obvious. The FSA has issued an Industry Update no 5, June 2010 warning that firms must comply with financial promotion rules when using new media such as Twitter, Facebook, online forums, blogs and I Phone applications. more...
M&G update
June 24 2010
Emergency Budget Response from Jim Leaviss. Jim Leaviss, Head of Retail Fixed Interest at M&G gives his response to the emergency Budget, and looks at the implications for the UK bond markets, inflation, and the economy. more...
Adviser letter of the week
June 24 2010
Dilemma for those not keen on multi-manager funds. Investment and financial planners often ignore multi-manager funds because they do not believe they offer value for money. Where the manager is providing real value it's hard to argue against them.
more...
Compliance tip June - The small firms financial crime review
June 22 2010
The Financial Services Authority recently published their report into the financial crime systems and controls in small firms. The review undertook visits to 159 small firms across the retail and wholesale sectors. It covered three main areas: Anti-money laundering and financial sanctions; Data Security; and Fraud Controls. more...
"Your turn No. 5 get ready to listen"- Derek Bradley, PanaceaIFA.com
June 22 2010
Even before the lights dim out at the FSA offices in London's Canary Wharf, another new regulatory body is now in incubation. Last Wednesday night at the Mansion House, the Chancellor George Osborne, announced the establishment of a powerful new Consumer Protection and Markets Authority (CPMA), which will regulate the conduct of every authorised financial firm providing services to consumers. more...
Football - It's all about sport - No it's the economy stupid
June 18 2010
Love it or hate it, everyone will get some benefit from the World Cup. The South Africans hopefully will enjoy their role as host and despite the huge cost of the infrastructure, they will at least be able to showcase that beautiful country to the rest of the world. more...
The Tax Man Cometh
June 16 2010
Margaret Mitchell in 'Gone with the Wind' wrote "Death, taxes and childbirth! There's never any convenient time for any of them". Convenient or not, June 22nd 2010 is probably an important date that you will want to schedule into your diary. more...
IFA letter of the week
June 15 2010
Update - good news
Andrew Tyrie MP has been appointed Chair of the Treasury Select Committee. The FSA fits the BIG STATE small citizen problem outlined by David Cameron and now the FSA is on the back foot and answerable to its critics! more...
The Hunters' Tails
June 15 2010
To the tone of the trombone....
It could still all go horribly wrong, of course. With sovereign debt there are no lenders of last resort. Observes our ever-watchful CEO Mark Tyndall: "Several so-called 'deficit reduction plans' are about slowing the rate of growth in the deficit, rather than actually dealing with it." Diverging this week to the widest levels recorded, European interbank rates are showing signs of great stress. more...
Come in number 4, your time is up!!
June 14 2010
News hitting the wires is indicating that the FSA is to fall under the control of the Bank of England with a separate Consumer Protection Agency set up to regulate IFAs. Chancellor George Osborne is set to reveal the restructure in his first Mansion House speech tomorrow, the Chancellor is also set to announce the separation of the FSA’s consumer protection activities into a new body called the Consumer Protection Agency, as proposed by the Conservative Party before the election. more...
AEGON critical illness claims explained
June 10 2010
In 2009, we paid 88 per cent of critical illness (CI) protection claims. Of the 12 per cent of claims declined, 32 per cent were due to non-disclosure and 68 per cent were due to the definition not being met. more...
PanaceaIFA LinkedIn group
June 8 2010
"What do you think should be George Osborne's priorities in his emergency Budget on 22nd June and how will these affect your IFA firm"?
PanaceaIFA now has a discussion group on LinkedIn. Although this group has been live a very short time, it is attracting some interesting comment on issues that impact upon IFAs.
more...
Schroders - Asian opportunities, maximised income
June 4 2010
With a target yield of 7% p.a.*, the new Schroder Asian Income Maximiser offers a market beating level of income. You also get significant exposure to the growth potential of leading companies in some of the world's most dynamic economies. more...
Fighting Fear
June 4 2010
Whether fact, rumour, hearsay or tittle tattle, whether from an ill-informed or respected source, when fear grips a situation sometimes even the strength and sheer logic of facts will get washed away in the flood of a frenzy. more...
Learning to sell Austerity
May 28 2010
We all know the bad news is coming. The budget of 22nd of June is unlikely to be pleasant either reading or listening for any of us. However the new government has for the moment the brief period before the halo of honeymoon popularity fades all too quickly. Already, apart from the backfiring joke from the previous 1st Secretary of the Treasury that there was no cash left, the blame is inevitably being cast at the previous lot. Well that is to be expected and is understandable, but merely blaming someone else is not going to solve the problem. more...
Bright Grey - Win two tickets to see the 2010 F1 British Grand Prix
May 28 2010
Do you fancy a great day out at the British Grand Prix? Just submit an application and you could be spinning off to Silverstone as our guest! On Saturday 10 July and Sunday 11 July the British Grand Prix will be at Silverstone and we've reserved two tickets - they could be yours!
more...
Power and Responsibility
May 24 2010
It's all very well being able to wield power, but it is the responsibility that goes with it that is more important. As we have seen with the banking crisis, the irresponsibility of key officers and directors who seemed to be almost omnipotent was astonishing. No one seemed minded to criticise the sartorial elegance of these faux financial emperors. more...
Register now: An invitation to The Absolute Return Roadshow 4-16 June
May 21 2010
Registration for The BlackRock, Gartmore and J.P.Morgan Asset Management's Absolute Return Roadshow is now open. To reserve a place we recommend registering as soon as possible as places are limited and interest is high. more...
M&G - Fixed interest funds - update on sovereign and corporate bond markets
May 21 2010
Richard Woolnough and Stefan Isaacs, two of M&G's leading fixed income fund managers give a summary of how the credit default swap (CDS) market continues to price in a high risk of default for Greece, as well as other European countries. They also explain which sectors they believe are offering value.
more...
IFA letter of the week
May 19 2010
It was Caesar who ordered that the boats his army used to travel be burnt, so that when the army woke up in the morning they knew that they either had to win the war or would die. more...
Beware the Sand Devils
May 17 2010
I am sure you have seen in those natural history programmes those mini sand twisters that dance around with seemingly little impact - that is until they hit you. Well last week we saw what happened when several of such sand devils combined to cause a global fear of a devastating financial tornado. Each on their own could have had an effect but their combination suddenly brought markets up short as they saw the potential for something worse. more...
Resources Compliance - Compliance Tip - May 2010 - References Referenced
May 13 2010
The appointment of an approved person by a firm has always required that firm to establish that the individual is 'fit & proper' to carry out the desired controlled function(s). There are however also FSA requirements for the ex-'employer' of that individual to follow and some changes were made to these processes in summer 2009 as part of the approved person changes made by PS09/14.
more...