In January we posted a copy of the quarterly market commentary sent to wealth management clients of No Monkey Business Limited. We repeat the exercise here. The focus is on the risks facing financial markets in the late stages of an unusually long expansionary phase of the business cycle
read more Commentary by Stuart FowlerFTfm editor Pauline Skypala reports in today’s weekly review of the fund management industry that indpendent consultants Oxera have supported (in a report out later this week) the Association of British Insurers’ claims that an industry-led model for the new National Pensions Savings Scheme will not have higher costs than the centralised model (with competition by contract bids) favoured by the Turner Commission.
read more Commentary by Stuart FowlerThe FT and AMRO Asset Management launched a competition in the summer for the dream savings product. The winning entry, in the spirit of the challenge, was a simple rounding-up scheme at the supermarket till: cash added instead of cash back.
Chris Drew and I, as creators of the ‘Lambda’ long term asset model, had a [...]
Stung by the strength and frankness of the FSA’s rebuke of the long-terms savings industry at Gleneagles (see Commissions: you’re going to have to help yourself), Stephen Hadrill, DG of the Association of British Insurers, struck back at a Labour Party fringe meeting in Manchester. “Carry on churning” said the headline in the advice industry rag MoneyMarketing reporting his reposte.
read more Commentary by Stuart FowlerThe FSA understands perfectly well that the commission-based model for selling long-term savings products to the public is deeply flawed. In a recent speech to industry leaders, Chairman Sir Callum McCarthy spelt it out. The regulator’s powers do not extend to forcing changes in the business model.
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