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Retiring Brits Concerned For Health Not Wealth

Prudential has revealed the results of a new survey* that shows failing health tops the list of fears about retirement. The survey found that people planning to retire in 2010 worry more about ill health than having enough money to live on.

Retiring Brits Concerned For Health Not Wealth

Two-thirds (66 per cent) of people approaching retirement fear their health deteriorating, while more than half (55 per cent) worry about not having enough money to be able to enjoy themselves or do the things they want to do. A similar number (54 per cent) say they are concerned about the rising cost of living.

Women appear to worry about their health and money more than men. Almost three-quarters of women (71 per cent) are concerned about their health deteriorating as they get older, compared to 62 per cent of men.

Karin Brown, director of pensions and annuities at Prudential, said: “In reality, people need to be equally as concerned about their money as their health in retirement, particularly women, as we know from our own research that women get less in their pensions than men. It’s totally understandable that people would worry about their health worsening as they get older but without having sufficient money to enjoy retirement and actually keep healthy, there is little to gain from worrying about health.

“There is a direct link between financial security and health and so if you are well prepared financially for your retirement and put yourself in a position where you can live comfortably and have enough money to keep you going, then your health is less likely to be an area of serious concern. You don’t have to be super-rich to enjoy a financially secure retirement. It just takes a bit of careful planning and the earlier you start the better.”

Via EPR Network
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Report: Child Trust Funds Receive Over £5 Million A Week

The Children’s Mutual, a leading Child Trust Fund (CTF) provider, has revealed that over £700,000 a day, or £5 million a week, is currently being invested in Child Trust Funds.

Report: Child Trust Funds Receive Over £5 Million A Week

As the UK’s first universal children’s savings product reached its fifth birthday in April 2010, these figures give a clear indication that over the last five years the actions of parents, families and friends have changed the savings habits in the UK, for the better.

Prior to April 2005 less than one in five parents were saving for their children’s future. However since the launch of the CTF this figure has rocketed to three in five.

David White, Chief Executive of The Children’s Mutual, said: “Given recent economic problems it is essential that the UK reignites its savings culture. In five short years there has been a 200% increase in the number of people saving for their children over the long term and the Child Trust Fund has been the catalyst. This is nothing short of phenomenal, given the uncertain financial backdrop many families have faced.”

Since April 2005 parents of five million children who now have a CTF have used them as a means to change their savings habits.

This commitment from parents and the Government towards saving for children’s futures may mean that an estimated £2.96 billion will be available to young adults each year as they turn 18 – a significant amount towards the increasing costs of adulthood such as buying a car, attending university and getting onto the property ladder.

April this year also marks the beginning of additional payments into CTFs for disabled children who are entitled to Disability Living Allowance. These additional yearly payments of £100 or (£200 for severely disabled children) could mean an extra£3,000 at age 18.

David White concludes: “The introduction of additional payments for disabled children is crucial as it reflects the additional costs that disabled young adults and their families may face. Along with Government we hope that the additional money will help to enable these children have a smooth journey into adulthood.”

Via EPR Network
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Traders Advisory DMCC – A Specialize FX Firm Announces Its Opening

On April 18, 2010, Traders Advisory DMCC will start its business activities. Traders Advisory is based in Dubai, UAE and licensed and registered as a free zone company under the rules and regulation of Dubai Multi Commodities Center Authority; it centers its activities on the financial market specifically the FX market by providing alternative forecast and technical analysis of the currency market to traders. It will also offer FOREX training course in Dubai for starters who want to learn how to trade the currency market effectively.

Traders Advisory DMCC - A Specialize FX Firm Announces Its Opening

“Now a day, almost everyone is in to trading the financial market online, and almost all retail traders are in pursuit of finding the solution on how to make their trading easy and profitable. We are providing solutions; our specialized services will help FX traders”, said Mr. Monirul Quazi, Managing Director of the company.

As a trader, either full time or part time, doing all the hard work and research could be very exhausting. Traders Advisory DMCC can offer solution to make trading the currency market less stress and profitable. By simply acquiring to the company’s specialize technical analysis service, members are now leveraging with the company’s vast resources including its team of experts.

The list of services of Traders Advisory DMCC will be available in their website advisoryfx.com beginning on April 18, 2010. For the time being, you can visit advisoryfx.info to sign up for their Special Opening Promo of 30 days FREE access to their website.

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Saxo Bank On Track With Sound Results For 2009

Saxo Bank, the online trading and investment specialist, has announced that it has received sound and steady results for 2009 and achieved a positive emergence from the financial crisis.

Business picked up during the second half of 2009 after a relatively slow beginning to the year. Operating income for the year was DKK 2,228 million compared to DKK 2,518 million in 2008. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was DKK 441 million while net profit was DKK 201 million with 80% earned in the second half of the year.

As of 31 December 2009, the solvency ratio was 19%. The Bank’s Internal Capital Adequacy Assessment (ICAAP) process showed a minimum capital requirement of 8%.

The founders and CEOs of Saxo Bank, Kim Fournais and Lars Seier Christensen, said in a joint statement:

“Saxo Bank is a trading, investment and savings specialist not engaged in traditional lending activities and not dependant on traditional loan financing business. That has worked to our advantage in what was a very difficult year for everyone. Saxo Bank’s business model has shown some resilience to the financial crisis and we are satisfied with the results.

“2009 was a year of geographical expansion and establishing new business areas. We opened five new offices and our Asset Management business grew significantly. The new Saxo Equity Platform, which was launched in March 2010, sets the stage for a year, which will be characterised by new products and platform developments. Even though such investments have no or limited impact on income in the short run, we believe it is the right time to take advantage of the many opportunities available to take the Bank to the next level.”

The value of clients’ collateral deposits related to the trading business increased more than 70% to DKK 15 billion as of 31 December 2009. On 1 April 2010 it was more than DKK 17 billion.

In 2009, Saxo Asset Management was launched to cater for the top segment of High-Net-Worth Investors. The new business area is the combined concept of three asset management businesses acquired in 2009. The asset management activities of the Bank now include expertise within Danish bonds, Nordic Stocks, high-yield and emerging market bonds. The acquired companies, Sirius, Capital Four and the 51% stake in Global Evolution, grew assets under management organically from approximately DKK 10 DKK billion at the time of acquisition to more than DKK 20 billion as of 31 December 2009. On 1 April 2010 it had grown another 25% to DKK 25 billion.

Saxo Bank is a Forex, CFDs and Futures trading specialist and has no engagement in traditional lending activities. However, in response to the instability and lack of confidence in the financial markets, Saxo Bank chose to join the Danish state’s Guarantee Scheme (Private Contingency Association). On 24 March 2010, a majority in the Danish Parliament agreed on a new guarantee scheme, which would bring deposit guarantees into line with European Union rules. The new guarantee scheme is set to take effect from 1 October 2010. All Danish banks are covered by the scheme.

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Research Shows A Quarter Of IFAs Are Predicting Wide Spread Stock Market Fluctuations And Expect A W-Shaped Recovery In 2010

Prudential research shows a quarter of IFAs are predicting wide spread stock market fluctuations and expect a W-shaped recovery in 2010.

Research Shows A Quarter Of IFAs Are Predicting Wide Spread Stock Market Fluctuations And Expect A W-Shaped Recovery In 2010

The study revealed that 25% of IFAs expect wide fluctuations in stock market prices, with a further 24% expecting equity prices to stagnate, hovering between 5,000-5,500 points throughout this year.

While the majority of IFAs seem pessimistic about strong stock market growth, around 22% believe the FTSE index of leading shares will rise to between 6,000-7,000 points by the end of 2010. Just 4% of IFAs expect to see equity values fall in 2010.

The findings highlight ongoing caution regarding the UK’s economic recovery, with official figures released in January showing 0.1% GDP growth in Q4.

IFAs questioned for Prudential expect the impact of the recession, now regarded as the worse since World War II, to continue for some time, with 71% believing it will have a long term impact on how clients look to invest.

Andy Brown, Director of Investment Funds, Prudential said: “Clearly IFAs are cautious about the growth prospects for the stock market in 2010 and expect to see fluctuations in share prices for most of the year. However, it is encouraging to note that just 4% anticipate stock market prices to fall and, for investors, it is worth setting this against the background of very low returns on cash based savings accounts and the speed at which cash savings are being eroded by rising inflation.

“In the current environment it is more important than ever to actively manage investments and aim for savings to be placed in better performing funds and that the balance between cash and equity based savings and bonds is weighted to suit investors’ short and long term financial needs, aspirations and risk profile.

“While it is widely thought that stock markets will continue to fluctuate for the foreseeable future, there will be good opportunities and utilising a good fund manager and gaining financial advice is key if investors want to have the best chance of successfully riding a slowly rising market.”

Prudential recently launched five new actively-managed risk-rated multi-asset funds designed to help advisers focus on client management through an extension of its partnership with independent investment specialist Old Broad Street Research (OBSR).

The partnership gives advisers access to the asset allocation expertise of Prudential’s Portfolio Management Group* (PMG), which currently manages over £100 billion of capital, and the fund selection and recommendation experience of OBSR, in one place.

The funds are actively risk managed in line with their portfolio investment objectives and may help reduce the risk of potential TCF issues through running static portfolios.

The five portfolios – Defensive; Cautious; Cautious Growth; Balanced; and Adventurous – are available on a range of Prudential personal pension products, income drawdown, onshore and offshore savings and bonds.

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UK Savers Losing Billions Of Pounds In ISA Accounts Each Year

As billions of pounds of British savers money is being lost in ISA accounts, the government’s consumer watchdog Consumer Focus is due to launch an official complaint on the matter. The move which could potentially ‘shake up the ISA industry’ is a long time coming suggests Matt Spencer, founder of UK based personal finance blog Moneystand.co.uk.

Consumer Focus have highlighted numerous ‘unfair obstacles’ financial providers have put in place for savers to transfer their accounts to other banks, which pay higher interest rates.

The cash ISA market is currently worth around £158 billion, as savers flocked to the tax free service introduced in 1999. Upon its launch rates averaged a healthy 6.32 %, however this figure has plummeted to 0.42 %, a figure that is below the Bank of England base rate.

Mike O’Connor, chief executive of Consumer Focus suggests that a slow ISA transfer process and bureaucracy from the banks has caused many of these problems. He suggests that only 12 % of people have moved their ISAs to a more preferable savings rate, which is costing UK savers millions per year in lost revenue.

As a large consumer group, Consumer Focus can launch a ‘super-complaint’ to the Office of Fair Trading (OFT). This would force the OFT to give an official response within 90 days to the matter and a decision over what action it would take towards the issue.

Common issues that arose include the length of time it takes for transfers to occur when sending funds and information from one bank to another. Official government guidelines recommend a limit of four weeks for this process. Findings from Consumer focus show that a third of people switching their ISAs waiting more than five weeks for funds to clear into the new account.

Customers should be wary when looking for a new ISA provider however warns Matt Spencer, suggesting:

“Banks are offering introductory rates with high interest levels to entice new customers to open new ISA accounts. These short term bonuses often hide very poor interest rates once the honeymoon period is over.

It’s time for savers to get the rates they deserve, so be sure to make your money is working as hard as possible for you. This might mean that you need to change your current ISA provider, despite the long transfer times between banks.”

Personal finance blog MoneyStand provides unbiased personal finance, IVA help and debt related information. Founded in 2008, MoneyStand was created in response to the worsening financial situation of individuals in the UK and across the world. For more information on personal finance, visit www.moneystand.co.uk.

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Shopping Around More Important Than Ever As Housing Market Remains Fragile

House buyers must shop around if they want to secure the best mortgage deals in the current climate, according to a firm of UK mortgage experts. This is especially important for those who are looking for first time buyer mortgages.

Whole of market broker The Mortgage Point has stressed the need to check out finance deals from as many lenders as possible following the release of February’s figures from the Council of Mortgage Lenders (CML).

Gross mortgage lending in February grew to an estimated £9.2 billion, up from £8.7 billion in January. Analysts said an increase during the shortest month of the year was unusual, and the return of stamp duty at the start of the year on properties costing under £175,000 is likely to have distorted figures.

In their February report, the CML said while consumer confidence is expected to continue growing, the funding markets remain difficult, something which is due to impact on the supply of finance available in the coming months. And while last month saw an increase in lending, it was down 6 per cent on February 2009’s figure of £9.7 billion.

Stuart Codling, CEO of Salford-based The Mortgage Point, said “it is more important than ever for first-time buyers and homeowners looking to re-mortgage to shop around for the best deals.”

He said: “Confidence within the market is continuing to grow as the economic situation improves and we are seeing increasing numbers of people contacting us for mortgage advice and to arrange finance for properties. However, it remains imperative that people don’t limit themselves when it comes to choosing a new mortgage product.

“There are good deals to be had whether you’re looking for a fixed rate, capped rate or tracker mortgage. The important thing is understanding which product is most suited to your particular situation and then making sure you search a wide variety of lenders in order to secure the best option.”

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Knowledge To Action Stock Market Seminars Supply International Demand

Knowledge to Action, Europe’s largest trader coaching company, is expanding to offer its forex trading seminars in Singapore, Australia and New Zealand. This follows greatly increased demand for these events, at which attendees gain valuable insights into becoming successful private traders on the foreign exchange markets.

Knowledge To Action Stock Market Seminars Supply International Demand

Knowledge to Action originally started running stock market training in 2004 and launched its forex training courses in 2008. Knowledge to Action previously only held seminars in the UK, which houses its Trader Centre of Excellence and one of London’s most successful private trading floors.

After speaking to sell out Australian audiences in 2009, Knowledge to Action is officially launching an office in Australia this month. This offers more opportunities for private individuals to benefit from Knowledge to Action’s strategies and systems for gaining financial independence through stock market and forex trading. People living in Australasia can now benefit from these training events.

The company was set up by Greg Secker, who spent years working across foreign exchange trading floors in Europe and the US. He set up Knowledge to Action in 2003 in his home and soon expanded, offering stock market courses from 2004. The company has grown and developed explosively in the period since then, so that it is now the number one trader coaching company in Europe, and is on track to expand into the United States in the second half of 2010.

This growth over a period of just a few years is testimony to the effectiveness of Knowledge to Action’s award-winning forex training and stock market training courses, which are run from its London Headquarters. The success of this training was recognised recently by the company winning a place as a regional finalist in the 2009 National Business Awards.

About Knowledge to Action
Knowledge to Action, founded by Greg Secker, is the home of the award-winning Traders University® programme, and Europe’s number one trader coaching company.  Its stock market course has launched many private traders on the path to financial independence since 2004.

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New Online Inheritance Tax Planner

Principle First has announced the online launch of its unique Inheritance Tax Planner facility. Developed in close consultation with clients, the unique new online tool enables users to calculate their own personal liability for inheritance tax.

Levied at 40%, Inheritance Tax (IHT) is one of the most important taxes to HMRC (The Revenue Commissioners), and swells the taxman’s coffers by billions of pounds every year. The good news though, for many inheritors, is that a good financial adviser can radically cut a person’s IHT liability, in just a few simple steps.

The new Principle First online Inheritance Tax Planner alerts clients to their current Inheritance Tax liability and when used alongside Principle First’s financial planning advice it could enable them to vastly reduce or completely eliminate their exposure to what has been called ‘the most avoidable tax of all’.

The Principle First Inheritance Tax Calculator is an important tool as it helps with the crucial first step in avoiding this most expensive of taxes which is simply knowing how much could be owed.

IHT can apply to parts of a person’s wealth when they pass funds and assets on to their children. It is a relatively simple calculation based on the total assets in their ‘estate’, less debts and liabilities. Despite this, many people fail to take a few minutes to work out their IHT liability, and then take advice on how to reduce it.

The current tax-free allowance, or ‘nil rate band’ for IHT in 2010-11 is £325,000 (£650,000 for a married couple or civil partnership). This amount however covers a wide range of assets which are included as part of an estate. Calculations need to include the value of properties, cars, valuables, savings, investments, and insurances – less the value of any outstanding mortgage, loans and other debts.

By entering these values into the inheritance Tax Planner, in response to a series of simple questions, the user can calculate the value of their estate, and deduct their allowance to show how much of their wealth will be liable to Inheritance Tax. The calculator will then show how much of that they would have to pay in Inheritance Tax at this moment.

Principle First believes the new online tool will prove to be a simple but valuable asset for its clients which could easily help them save thousands of pounds which they would otherwise lose to HMRC.

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Prudential Reveals Recession Delaying Retirement For Nearly 3 Million UK Adults

Prudential research* shows that nearly 3 million UK adults aged over 45** have delayed their plans to retire because of the recession or a personal financial emergency, or because they want to keep working to build a bigger pension pot.

Prudential’s survey shows 9% – more than 1.6 million people – have put their retirement plans on hold because of financial emergencies and the effects of the recession while 7% (nearly 1.3 million people) are giving up retirement plans in favour of working in an effort to boost pensions so they can retire at a later date.

More than 710,000 people – 24% who have delayed plans to retire – fear they will now never be able to afford to retire completely because the economic slowdown or their financial emergency has had such a devastating effect on their retirement savings, Prudential’s nationwide Class of 2010 study shows.

The recession has also forced 17% to delay retirement for at least five years, while a further 51% believe they will have to wait between 12 months and five years before they can stop working.

Prudential believes these figures should be considered a warning to people who are still in a position to save for their retirement and urges people to save as much as they can for their retirement and to put money aside to fall back on in the event of a financial emergency.

Martyn Bogira, Defined Contribution Solutions Director, said: “It is imperative for people to realise what’s at stake before they come to retire.

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British Banks Continue To Put Pressure On Customer Finances

According to recent data released by the Financial Ombudsman Service (FOS), banks are rejecting thousands of requests every month from customers looking for help with their finances.

The Financial Ombudsman Service, which is an independently run service that deals with complaints from consumers and businesses in the financial industry, revealed that 13,053 cases were brought to its attention from consumers looking for more leniency from their banks. Debt management and IVA company Debt Free Direct expect to see this number of complaints increase in 2010 as thousands of individuals sought debt advice with the company in Q1 of 2010.

Derek Oakley, Insolvency Director at Debt Free Direct comments:

“We are continuing to see an increase in debt help enquiries from individuals worried about their finances. For many of these people, overdraft charges are adding to their already stretched budgets. We would always recommend that individuals seek professional debt advice if they find themselves struggling to pay their bills each month.”

Compared with just 2,800 similar complaints to the FOS in 2008, the 360 per cent increase in complaints may indicate the UK banking organisations are responding poorly to their customers needs during the economic downturn. In particular customers concerns include individuals in debt who are being charged fees on their overdraft facilities or insurance policy holders who have not been paid out on their claims.

Although traditional legal routes for reclaiming money lost through overdraft charges have now ended, there are still ways in which individuals can claim this money back if they are in financial difficulties. With charges of up to £35 every time the overdraft limit is exceeded, such fees could be contributing to furthering levels of personal debt for many customers in the UK.

According to the Ombudsman service, many banks will ignore individual’s pleas of hardship and refuse to suspend overdraft charges, renegotiate overdraft limits or restructure outstanding debts, despite this going against the industry lending code for personal banking. In the case of most complaints put forward to the Obmundsman, the customer will have already been refused a refund by their bank on any outstanding overdraft charges.

Debt Free Direct recommends the best course of action for anyone with financial worries is to seek professional, confidential debt advice. Many individuals may feel ashamed of their financial difficulties, but seeking advice is one of the first steps to becoming debt free.

They state, “Our aim is to suggest an effective debt solution for every individual using our Best Advice Model (BAM). BAM quickly and accurately analyses the financial information for each person and recommends the most appropriate, least drastic solution for them.”

Debt Free Direct, the UK’s leading Insolvency practitioners receive thousands of insolvency inquiries each month for debt advice. The company, which was founded in 1997 specialise in providing impartial debt advice and guidance for individuals in financial hardship.

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Report: Early Retirement Threatened Due To Costly Kids

The Children’s Mutual, a leading Child Trust Fund provider, has revealed that millions of parents in Britain are being forced to postpone their retirement to meet the rapidly rising financial burden of supporting their adult children.

Report: Early Retirement Threatened Due To Costly Kids

Research from the award winning Child Trust Fund provider has found 57% of parents of 18 to 30 year olds, say they have no choice but to retire later – with 43% expecting to work up to five years longer than they wanted because of the cost of their ‘adult’ children.

The news is worse for 9.3% of parents who believe they will now be forced to work over a decade longer with some abandoning the dream of retiring altogether.

Initially, 75% of parents planned to retire before they reached 65; now 40% have accepted the fact that they will not retire before the ‘official’ retirement age.

These stark figures show that 79% of parents claim their ability to save for their retirement has been impacted by the unplanned financial support being needed by their offspring – with a third of those (32%) suggesting it has been significant.

David White, Chief Executive at The Children’s Mutual said; “Worryingly, the number of parents getting caught in this middle age parent trap will almost certainly continue to rise – however parents of today’s youngsters can start to plan financially from the outset of having children and in so doing extricate themselves from this cycle.

“It’s clear that the concept of a retirement age will become increasingly fluid and for some it might even become totally irrelevant. It is imperative that we empower parents of today’s youngsters to ensure that their retirement dreams and the hopes for their offspring are not compromised. Investing in Child Trust Funds or other long term savings vehicle from the outset is one way to help ensure that the keel remains even.”

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives a £250 Child Trust Fund voucher (£500 for low income families) from the government when their parents register for Child Benefit. The government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child’s teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

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Saxo Bank Launches Property Investment Products

Saxo Bank, the online trading and investment specialist, will now offer property investment products for both private clients and institutional investors through a new company, Saxo Properties.

Saxo Bank Launches Property Investment Products

The newly formed investment firm Saxo Properties, fully owned by Saxo Bank, will launch closed-ended funds for both high net worth clients and institutional investors. Two of the Danish real estate industry’s most well-known individuals, Jesper Damborg and Claus Klostermann, will respectively become CEO and managing director of investments at Saxo Properties.

“Initially, Saxo Properties will focus on handpicked Copenhagen residential, office and retail properties. The first fund will close within the next three months, but we intend to establish a number of funds with a significant ownership capital of at least DKK 250 million,” said Jesper Damborg.

Saxo Bank’s business model is often described as a facilitator model where the bank through its trading platforms offers liquidity, products and services to clients as obtained from other financial institutions. Saxo Properties will use the same model. Saxo Bank has hired Flemming Schandorff, the former COO of ISS, one of the world’s largest commercial providers of facility services, to a similar position at Saxo Properties to facilitate administration of the estates.

“First and foremost, Saxo Properties will prioritize achieving attractive market returns, but we will also focus on how to capitalize on tight cost control and good management, such as rebuilding, mixed lease and general maintenance,” said Jesper Damborg.

Saxo Bank’s CEOs and founders, Kim Fournais and Lars Seier Christensen, said in a joint statement: “Saxo Bank holds asset under management of DKK 40 billion, and our focus on asset management has proved a great success. Many clients have asked for property investment products and there is also a clear synergy between Saxo Asset Management and Saxo Properties, which we can now utilize. Many properties are traded at a low price especially in Copenhagen, so the timing is right to expand our asset management to include property investment products.”

Last year, Saxo Bank bought Sirius Asset Management, Capital Four and 51 percent of Global Evolution. The three companies now form Saxo Asset Management, which has management expertise for Danish bonds, Danish equities, corporate bonds and emerging market bonds.

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Prudential Has Further Developed Its Annuity Range This Spring With The Launch Of A Reinvigorated Flexible Lifetime Annuity

The launch comes at a time when falling corporate bond rates are putting downward pressure on conventional annuity rates and people in retirement are increasingly looking beyond traditional choices when considering their retirement income options.

Prudential Has Further Developed Its Annuity Range This Spring With The Launch Of A Reinvigorated Flexible Lifetime Annuity

The new Flexible Lifetime Annuity launches with a £35,000 minimum purchase price (after tax-free cash) – down f r o m £75,000 – and no maximum limit, making it more accessible to more customers.

The fund range is also improved and now comes complete with a range of 50 funds, 32 of which are new.

The increased number of funds will mean a wider investment choice for people who select the Flexible Lifetime Annuity in their retirement. It will include funds f r o m the leading investment houses including Artemis, AXA, BlackRock, Gartmore, and JP Morgan among others, while retaining the current range which includes funds f r o m Invesco, M&G, Newton and Prudential.

The rationale behind increasing the number of funds is to provide greater variety and flexibility within the four investment strategies offered by the Flexible Lifetime Annuity product.

Flexible Lifetime Annuity customers can choose f r o m one of four investment strategies – cautious, standard, adventurous and the self-managed investment strategy – which reflect the level of risk for each strategy, rather than the funds within the portfolio.

By increasing number of funds within the Flexible Lifetime Annuity customers will have an opportunity for greater exposure to a complete range of risk graded funds, each designed to suit both current and future appetite to risk, and with the built-in option to switch funds throughout the lifetime of their Flexible Lifetime Annuity.

Vince Smith-Hughes, Prudential’s head of business development for retirement income, said: “We are seeing a shift in the options that people are prepared to consider when selecting an annuity. Greater choice, flexibility and investment diversity are becoming increasingly important to our customer base as it becomes more sophisticated.

“A new lower minimum investment amount and a revamped fund range has increased the choice available to customers and is part of our strategy to offer the widest range of annuities in the UK.”

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Agricote And Saxo Banque France Partner

Saxo Banque France, the online investment and trading specialist, has announced an exclusive partnership with Agricote, the agricultural broker, allowing farmers to manage their selling prices and negotiate agricultural or commodity futures and CFDS online using the award winning SaxoTrader platform.

The partnership with Agricote reflects the evolution of the agricultural industry, and the reality that a new generation of farmers want to control their production and sales, using futures to hedge their output and manage risk. Using SaxoTrader, the partnership enables both producers and buyers to manage market volatility and trade agricultural futures and CFDs online 24 hours a day, with access to 23 stock exchanges.

Commenting on the partnership, Pierre de Perthuis, co-founding partner of Agricote, said: “Our partnership with Saxo Banque will enable farmers to move forward and manage their own production and sales. Farmers no longer want to suffer from the pressures imposed by a volatile market, and seeing farmers taking positions on an online future trading platform is an innovative step forward for the industry. We are very proud to support these pioneers. Farmers are now able to control their destiny”.

Pierre-Antoine Dusoulier, CEO of Saxo Banque France added: “We are pleased to partner with Agricote and acknowledge that the agricultural industry is changing and needs strong support. Agricote was looking for a trusted partner and we met its requirements: Saxo Banque is a perennial French Bank and we have a highly efficient online trading platform and services for fast deployment.”

Main characteristics of the partnership:
– Privileged access to International Futures Markets
– Ability to adopt and implement own marketing strategy
– An appropriate account with user profile
– Trading account access via PC, website or cell phone
– Personalized assistance by Agricote
– A free demo account for 20 days

Farmers will be able to access their online trading platform via a dedicated page on the Agricote website.

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2009 SABEW Award For Mutualfundreform.com

The blog, www.mutualfundreform.com, has won the top award from the Society of American Business Editors and Writers (SABEW) in the best small blog category. The winning award was made as part of the 15th annual Best in Business Journalism competition, recognizing top publications,Web sites and the best business news reporting during 2009.

The blog,  mutualfundreform.com, won the award primarily for its original 7,000-word investigative series into how little-understood mutual fund fees, revenue sharing deals, high commissions paid to wholesalers and different share classes all benefit mutual fund salespeople and executives more than individual shareholders.

2009 SABEW Award For Mutualfundreform.com

The series, written by the site’s creator, Chuck Epstein, shows how these payments create conflicts of interest between shareholders and investment professionals which make it difficult for individual investors to obtain objective financial advice.

Other issues covered on the blog deal with the failure of SEC regulators, and the need for financial professionals to adopt the same fiduciary standards used by institutional investors and pension fund executives.

The site maintains that the need for mutual fund reform is essential since the load mutual fund industry currently has practices in place which essentially work against their own shareholders.

The creator of www.mutualfundreform.com is Chuck Epstein. He has been a senior writer for two large mutual fund companies and also won first place awards from the Mutual Fund Education Association (MFEA) in 2006, 2007, 2008 for writing and editing the best adviser and/or shareholder newsletters in the large-fund class category.

He also has held senior-level marketing positions with the New York Futures Exchange, Chicago Mercantile Exchange, and written by-lined articles for over 50 financial publications.

Via EPR Network
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Checking & Savings, Debts, Financial, Financial Information, Investment, IVA, Loans, Money, Personal Finance, Profits

Moneystand.co.uk: Take Advantage Of Saving Strategies

Savers must look for smart new ways to make the most out of their accumulated wealth in the midst of continual drops in saving rates. With easy access and notice accounts both dropping their rates in recent months, savers must act swiftly to ensure they make the most out of any savings they may have remaining.

For those relying upon savings accounts to support their income the consistently low rates of the past 12 months will have been particularly difficult to stomach. Moneystand.co.uk founder Matt Spencer suggests that there are ways around this reality for individuals willing to put in the extra effort to ensure they actually see a real return on their savings.

“Savvy consumers who assess how separate bank details can be played off one another are likely to see the best return on their savings. In these tough economic times, it is always important to make your money work as hard as possible.”

Some savings accounts, such as the Santander offer will reward you for making regular monthly payments in to their account; paying 6% as long as at least £1000 is deposited per month. Other banks, such as the Halifax are offering £5 per month payouts as long as a minimum £1000 monthly deposit is made.

Clearly logic implies that multiple accounts across banks will ensure maximum return and with both of these banks accepting direct transfer from other banks this technique is completely plausible. Many customers are already making use of this process to ensure that they acquire the saving rates they need to ensure they see a real return after tax and inflation are taken into account.

Moneystand suggests consumers must be wary not to fall into the overdraft facility if they do decide to take this approach. Multiple current accounts, all of which have had their overdraft facility used will reflect very negatively upon an individual’s credit rating and must be avoided at all costs. Proper planning must go in to making this decision to ensure that all accounts are clearing whilst still in the positive.

For the latest financial news and advice on individual voluntary arrangement, debt and insolvency issues visit our personal finance blog, http://www.moneystand.co.uk.

Via EPR Network
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