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Financial

Business, Currency, Financial, Financial Information, Financial Management, Financial Services, Financial Software, Financial Solutions, Forex, Investment, Money, Profits, Trading

ATX GROUP Announces Expanded Focus On Ultra Wealthy Clients

Following the successful launch of its special trading facilities, ATX GROUP today announced it will look to grow its advisor population that focuses on ultra-high net worth clients through a dedicated effort branded under the ATX GROUP Private Wealth Management name.

ATX GROUP’s well established Private Wealth Management division creates a strong platform for individuals and families of significant means. These clients have highly specialized wealth management and private banking requirements which we are uniquely positioned to fulfill,” said Joseph Black, President of ATX GROUP.

Led by Alexander Hutton, Managing Director, ATX GROUP Private Wealth Management will bring together approximately 25 highly trained private wealth advisors who will deliver a unique range of wealth management, asset management, private banking, capital markets and investment banking services to ultra-wealthy individuals and families in Asia, The Americas, Europe and Australia.

“The firm has been committed to providing a differentiated client experience, superior market intelligence and access to innovative solutions from leading investment specialists from around the world. Our organization will give us even more resources that we can bring to bear as strategic partners for our clients,” Mr. Hutton said.

ATX GROUP, a global leader in wealth management, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement and trust services.

ATX GROUP is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from four continents.

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Debts, Financial, Financial Management, Financial Services, Money, Personal Finance

Churchwood Financial Ltd Made A DEMSA Member

Churchwood Financial Ltd has been accepted as a member of the Debt Managers Standards Association (DEMSA).

The code of practice that all DEMSA members sign up to has been approved by the Office of Fair Trading (OFT) and goes beyond the basic legal requirements to protect consumers’ interests. It is also the only such scheme in the UK that has OFT accreditation.

Paul Naden, Chief Executive Officer at the company, comments: “This is a fantastic achievement for Churchwood Financial and is the highest accolade in compliance a debt management company can achieve.”

“Compliance is critical to the future of our business and over the last 18 months we have invested a substantial amount of time and money to help improve our internal processes, monitoring capabilities and marketing materials. Those in need of debt management advice can come to Churchwood Financial and be assured of a high-quality, transparent and professional service that puts their best interests at heart.”

Among the steps that the firm has taken are extending and strengthening its compliance team – as well as appointing Michael Pollard as compliance director – and establishing a dedicated quality monitoring team to ensure that high standards of customer care and accuracy are maintained and recorded.

Mr Pollard states: “Our acceptance by DEMSA is a tribute to all the hard work, commitment, integrity and teamwork demonstrated by our staff. I would particularly like to thank the compliance team for their efforts and am proud of this achievement,” adding “DEMSA approval will benefit all our customers, as well as the company.”

Mr Naden echoed his sentiments, noting that the financial well-being of its clients has always been a top priority.

“We have always endeavoured to provide the best possible service to those in need of assistance regarding debt. Our DEMSA membership only serves to highlight our commitment to helping people follow the road to a debt-free future,” he says.

Churchwood Financial is already a member of the Debt Resolution Forum (DRF), an association designed to promote professional standards within the debt management industry.

The DEMSA and DRF Codes of Conduct are designed to ensure the fair treatment of customers. All members’ advertisements should be accurate and truthful, members should provide clear upfront information to clients, offer comprehensible and fair contractual terms and ensure that any deposits or prepayments taken from customers are securely processed and protected.

In addition, DEMSA and DRF members must comply fully with the Office of Fair Trading’s debt management guidance and provide a user-friendly procedure for consumers to register complaints.

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401K, Financial, Financial Information, Financial Services, Investment, IRA, Money, Personal Finance, Retirement

Financial Planners: Three Questions To Ask For The Current Market

Especially in today’s economic climate, many people are reassessing their financial planners. A large amount of people have been losing money in the market, so clients should not be unnecessarily harsh with their planner; however, individuals must find out if their planner is using this widespread downturn to cover personal mistakes. Here are three questions clients should ask their financial planners.

1. How many personal investment have performed? Clients should find out how their own investments measure up to the Dow and use the current situation to benchmark performance. Find out how these investment compare to relevant indexes or funds with similar strategies. These should be examined over recent months and years, not day to day activity. If it is found that an advisor is doing much worse than benchmarks, they may have made bad decisions. If it is much better, examine whether they got lucky on risky investments. Clients should get detailed explanations.

2. How do the current investments meet with personal goals? One of the top advantages of working with financial planners is that they should be choosing investments that fall within an overall financial plan and time frame. This is to keep long-term funds mainly in stocks for future growth without the need to sell in order to cover expenses. An advisor should know how much in emergency funds a client should have, where it is invested and how liquid it is.

3. What adjustments are being made for the current market. The best financial planners have plans in place for such market downturns. An advisor should not make rash decisions in a market downturn. This is especially true for well-diversified and properly time framed investments. An investor should recommend caution when looking at additions to equity exposure during a downturn.

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Banks, Checking & Savings, Financial, Financial Education, Financial Services, Loans, Money

Tom Holcom Receives ‘Outstanding Civilian Service Medal’ from U.S. Army

Tom Holcom, chief executive officer of Pioneer Services, was presented with the U.S. Army’s “Outstanding Civilian Service Medal” Oct. 5, 2010, during a special celebration of his 25 years with the company. The award was presented to Holcom by retired U.S. Army Lt. Gen. Robert Arter.

Holcom was recognized for his work in helping to found the Command General Staff College Foundation (CGSCF) at Fort Leavenworth, Kan., which supports the U.S. Army Command and General Staff College (CGSC) in the development of tomorrow’s military leaders. He was instrumental in helping the CGSCF obtain tax-exempt status, and was elected the foundation’s first president.

“Tom has displayed extraordinary leadership, enabling the Foundation to develop into one of the most successful supporting foundations in history,” said Lt. Gen. Robert Caslen, the current commander of the Combined Arms Center at Fort Leavenworth, which includes the CGSC. “His dedication and selfless service reflect great credit upon him, the Combined Arms Center, and the United States Army.”

Past recipients include Sgt. Audie Murphy, the most decorated service member in American military history; E.N.J. Carter, creator of the “Be All You Can Be” slogan; and ninth Sergeant Major of the Army Richard A. Kidd.

Pioneer Services, the military banking division of MidCountry Bank, provides financial services and award-winning education to members of the Armed Forces. For more than 20 years, Pioneer Services has been a leader in military lending, offering military loans, retail lending, VA loans, and award-winning financial education programs through a network of offices and on the Internet. Pioneer Services is proud to support military families and communities through a variety of partnerships, programs, and sponsorships.

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Banks, Checking & Savings, Financial, Financial Education, Financial Services, Loans, Money

MidCountry Bank Names Steve Meads New President

MidCountry Bank has named financial industry veteran Steve Meads as its new president. Meads is now responsible for leading the growth of the bank in each of the communities it serves.

“We are very excited to have such an exceptional individual on our team who demonstrates the characteristics for which our company was built: local community spirit, and our core values of integrity, honesty, fairness, compassion and excellence,” said Bob Hatcher , CEO MidCountry Financial Corp , the bank’s holding company.

Meads graduated from Carleton College with a BA in Economics and also earned his MBA in Finance from the University of Wisconsin. He has nearly 25 years of financial services industry experience, most recently serving as President and CEO of Bremer Bank in the Twin Cities. He also is the Chairman of the YMCA of Greater Saint Paul and is active on the board of the Woodbury Community Foundation. Meads resides with his wife, Teri, and their four children in Lake Elmo.

MidCountry Bank is a full-service bank with administrative headquarters in Minnetonka , Twin Cities and out-state branches in Minnesota and a regional presence in Southern Illinois and Nevada . As a community bank, MidCountry provides high quality, diversified financial services and solutions for customers to meet their personal, business and professional banking needs. To learn more, visit www.MidCountryBank.com.

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Banks, Checking & Savings, Financial, Financial Education, Financial Services, Loans, Money

MidCountry Financial Corp. Website And Newsletter Named Finalist For National Awards

PR News has named MidCountry Financial Corp. a finalist for its “2010 PR Digital Awards” in two separate categories: Best Newsletter, and Best Website Redesign. Directed by PR News, a leading communications and public relations news source, these awards for digital communications expertise are nationally recognized and highly competitive.

“MidCountry Financial is proud to have its Vantage Point employee newsletter and website, as well as those employees who develop and maintain these critical communications vehicles, recognized as best in the nation,” said Julie Schaller , senior vice president, human resources, for MidCountry Financial Corp. “Our corporate culture is centered heavily on open communication and transparency with our employees, our customers, and our investors, which makes such national recognition even more important to the MidCountry family.”

Winners will be announced at an awards ceremony in New York City Oct. 6, 2010. Finalists in other categories include Coca Cola, General Motors, Barilla Pasta, Cisco Systems, Hilton Hotels, and Boeing, among others.

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Currency, Financial, Financial Services, Forex, Money

D.P.Wood Management Makes It Even Easier To Send Your Money Abroad

D.P. Wood Management has recently completed an expansion; both in terms of our workforce and the services we offer. Our new website at www.dpwoodmanagement.com provides a user friendly interface that is both easy to navigate and comprehensive in the information it provides. As a result we are now widely recognised as one of the most respected names in the foreign exchange industry, catering for business and personal clients alike.

D.P. Wood Management are market leaders in foreign currency, providing the most competitive exchange rates for individuals and companies wishing to transfer funds abroad.

Our clients benefit from the best available foreign currency exchange rates and highly efficient, accurate and speedy payment facilities. This ensures your funds arrive both on time and to the correct destination. There are no hidden costs, commissions, or fees – the rate we quote you is the rate we stick to.

The success of D.P. Wood Management depends on two central principles that we endeavour to deliver to our customers:

– The best exchange rates available in the market
– Unrivalled, innovative customer service.

Our client’s needs are provided for by a team of dedicated and experienced currency exchange consultants, many of whom are experts in specific areas of the foreign exchange market. They are fully trained to guide and assist you in every aspect of your foreign currency requirements, including strategic forward planning and monitoring for favourable currency opportunities to secure the very best exchange rates for you.

Each of our clients receives a friendly, personal and highly efficient service regardless of the purpose of the transaction or the amounts involved. Our consultants ensure that everything is explained fully, clearly and without any jargon. All of our consultants and back office staff alike are a highly professional workforce; able and equipped to meet all your needs.

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Banks, Checking & Savings, Financial, Financial Education, Financial Services, Loans, Money

Pioneer Services’ Fort Hood Office Chosen As One Of ‘The Very Best In Central Texas’

The Fort Hood Pioneer Services’ office was honored recently when a reader’s poll in the Killeen Daily Herald, the area’s 100-year old daily newspaper, named the company one of the best places to get a loan in the Central Texas region. The annual “Central Texas ‘ 100 Best” poll is an opportunity for the community to vote on where they go to find the region’s best products and services. The 2010 winners were announced in the June 27, 2010, edition of the daily publication.

“We are honored that the community chose Pioneer Services as one of the best places for Fort Hood service members and military families to get a loan,” said Romy Mortel, branch manager of Pioneer Services’ Fort Hood office. “Our primary mission is to improve the quality of life for military families and support the community, so it’s nice to know that our associates’ hard work is appreciated and recognized, not only by our customers, but by the broader community as well.”

The poll, initially launched in May, asked readers to complete a write-in ballot telling the newspaper where to find the best businesses and services in more than 100 categories, and generated nearly 6,000 responses. Winners receive a certificate of recognition and a banner to display at their establishment that highlights the honor.

Pioneer Services, the military banking division of MidCountry Bank, provides financial services and award-winning education to members of the Armed Forces. F or more than 20 years , Pioneer Services has been a leader in military lending, offering military loans, retail lending, VA loans, and award-winning financial education programs through a network of offices and on the Internet. The Pioneer Services Ft. Hood office, located at 202 E. Veterans Memorial Blvd, Killeen, TX, has been proudly supporting military families and the community through a variety of partnerships, programs, and sponsorships since 1997.

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Assets, Business, Financial, Financial Information, Financial Services, Financial Software, Financial Statements, Hedge Funds, Investment, Money, Trading

Littman Berg Reports First Quarter 2010 Results

LittmanBerg today reported its financial results for the first quarter of fiscal 2010, which ended on April 7, 2010. Revenues for the quarter were $721 million, compared with $ 724 million recorded during the first quarter of 2009. Operating income was $95.6 million in 2010, compared with the $97.1 million reported in the year-ago period.

Littman Berg Reports First Quarter 2010 Results

LittmanBerg’s net income increased to $17.6 million compared with the $14.5 million reported last year, primarily due to a tax benefit recorded in the quarter.

Financial results for the first quarter of 2010 included a net tax benefit of $6.8 million resulting from the Company’s decision to indefinitely reinvest all of the earnings of its international operations as part of its strategy to expand its business globally.

Commenting on the Company’s financial results, Martin Kobayashi, Chairman and Chief Executive Officer, stated: “Revenues and operating income declined in the first quarter of fiscal 2010 as compared to 2009, but we remain on track to meet our financial guidance for 2010LittamnBerg’s performance during the first quarter and our outlook for the full year reflect the continued strength of the commodity sector and our success in positioning LittmanBerg in some of the fastest growing segments of these markets. While capital spending in the power and industrial and commercial sectors remains low, we continue to see signs of recovery in these markets, including increased project planning work by our clients, which should drive increased opportunities for our business. Our expectations for the year are supported by our continued success in winning new assignments, particularly in the commodity market which is reflected in our strong book of business.”

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Banks, Checking & Savings, Financial, Financial Education, Financial Services, Loans, Money

Free Financial Education Podcasts For Military

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April is Financial Literacy Month, but for more than a decade Pioneer Services has celebrated financial education every month, creating more than three dozen articles, two books, and in-office materials designed to help military families take control of their finances. These efforts have been recognized in recent years with four awards from industry and educational groups.

The company’s library of materials just got even better with the addition of the Pioneer Educational Podcast series’ “Financial PEP Talk,” released this Financial Literacy Month in order to give service members yet another way to access financial education. The podcasts, which last just six to 10 minutes, are available on the company’s website at www.PioneerServices.com/podcast, where users can listen or download an MP3 file. By the end of April, there will also be an iTunes feed to which users can subscribe and listen to at their convenience.

“These podcasts give us another way to share the financial knowledge we’ve gained from more than 77 years in the industry,” said Chief Marketing Officer Karen Von Der Bruegge . “Military families can now choose how they want to learn money management: reading an article or book, visiting our offices for one-on-one consultations, and now, listening online or on an MP3 player. Whatever their preference, we have an option.”

The first three episodes cover setting financial goals, developing a spending and savings plan, and the changes consumers will see due to the recently-implemented Credit CARD Act. A new Financial PEP Talk episode will be released regularly, with future topics to include how to prioritize debts, creating an emergency savings account, how to choose a bank, tips for online borrowing, and many more.

To listen to the Financial PEP Talk, visit PioneerServices.com/podcast.

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Credit Cards, Debts, Financial, Financial Management, Financial Services, Loans, Money, Personal Finance

Make Overpayments To Lower Cost Of Credit Card Debt

Financial solutions company Think Money has welcomed a report from Moneysupermarket.com advising that credit card borrowers could significantly reduce their overall repayment term and the amount they pay by making more than the minimum payment.

Make Overpayments To Lower Cost Of Credit Card Debt

Moneysupermarket claimed that the difference between the average interest earned on savings and the interest payable on an average credit card debt (currently £1,989) is £308 a year – meaning it may make good financial sense to use savings to pay off debt.

The price comparison site said with this level of credit card debt, making just the minimum payment could mean the balance takes 22 years and 10 months to pay off. By contrast, paying just £20 more each month would reduce this by 17 years, and would reduce the overall interest paid by a third.

A Think Money debt expert said:

“Making any payments above the minimum, even below Moneysupermarket’s suggested increase, can help the borrower to clear their balance more quickly and reduce the amount of interest they pay.

“Making only the minimum payment may be a tempting option for some people, as it frees up cash in the short term – but it is likely to cost the borrower much more in the long run. As such, we advise people with credit card balances to try and budget for higher repayments where possible.

“But of course, this is not an option for everyone. Some people may find they’ve got to the point where they simply can’t afford even the minimum repayments – and anyone in that situation should speak with a debt adviser about debt solutions that could help.

“Even if the borrower can’t see any way of repaying their debts in full, there is help available – in the form of an IVA [Individual Voluntary Arrangement] or bankruptcy, for example.”

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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.

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Banks, Checking & Savings, Financial, Financial Services, Loans, Money

Pioneer Services’ Receives National ‘Workplace Innovation’ Award For CSR Efforts

Giving back to the communities it serves is an integral part of Pioneer Services’ workplace culture, and those efforts were recognized when the company received the “CSR Award for Workplace Innovation” from PR News during an event at the National Press Club in Washington D.C., Feb. 24. Pioneer Services received first place, while finalists included Pepsi Co., Butterball, and Deloitte.

Pioneer Services provides full-time associates with 16 hours of paid volunteer time off (VTO) each year, with part-time associates receiving 8 hours. In 2009, the company created the internal “Be the Difference” campaign to increase usage of the benefit. The campaign included a Volunteer Fair at the company’s Kansas City headquarters, a website, t-shirts, poster, and a Volunteer Committee that helps associates find volunteer opportunities.

These efforts led to a 400 percent increase in VTO usage over the previous year, a special award from the Department of Veterans Affairs, as well as several community recognitions for individual associates. The company’s VTO program and commitment to community service have been showcased on several news broadcasts and received other national recognitions.

“Being honored as the best in nation for our corporate creativity and innovation in regard to CSR is exciting, especially given the caliber of other award finalists,” said Chief Operating Officer Joe Freeman. “Our entire organization, including the associate-driven Volunteer Committee, exhibited incredible commitment to this effort, and showed that, for us, Compassion is more than just one of our corporate values—it’s simply who we are as a company.”

Pioneer Services, the military banking division of MidCountry Bank, provides financial services and award-winning education to members of the Armed Forces. F or more than 20 years , Pioneer Services has been a leader in military lending, offering military loans and award-winning financial education programs through a network of offices and on the Internet. Pioneer Services is proud to support military families and communities through a variety of partnerships, programs, and sponsorships.

For more information, visit PioneerServices.com. For loan information, visit PioneerMilitaryLoans.com.

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Banks, Credit Cards, Debts, Financial, Financial Information, Financial Services, Financial Solutions, Money, Personal Finance

Get Free Credit Reports And Best Credit Cards Deals At Free-Credit-Reports.com

To make it easier for the customers to understand the competitive credit card and credit report market, Free-Credit-Reports.com has introduced a reliable and quick free credit report online service free of cost. A good credit history is very important when customer is looking to get a certain amount of money from the lending institution or banks. To maintain a good credit history, customer will be regularly updated about the credit status so that any blemish can be removed, if it is there.

Get Free Credit Reports And Best Credit Cards Deals At Free-Credit-Reports.com

In response to the query via email, spokesman of Free-Credit-Reports.com said, “All the credit reports provided are organized in a comprehensive way. The customer can go through all the pages in a very easy to understand format. Free-Credit-Reports.com has a tie-up with the reputed and tested players in the credit card market like Visa, MasterCard and American Express. So the customers can rely on our reports for their credit history. Irrespective of the credit history of the customer, one is sure to find a credit card at the Free-Credit-Reports.com.” He also went on to add that Free-Credit-Reports.com also provides the guide to understand the various reports.

The spokesperson also stressed that Free-Credit-Reports.com will provide a chart with which the credit eligibility of the applicant is decided. This helps in convincing the lender or creditor in lending the money or providing the credit card to consumer. All the information provided to the Free-Credit-Reports.com is kept secret and is not disclosed to third party. In today’s world the internet is growing at a fast pace and with the growing e-commerce the chances of identity theft have increased manifold. To counter this Free-Credit-Reports.com also provides the services in which they will provide protection against any sort of identity theft.

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Bonds, Business, Financial, Financial Information, Financial Services, Investment, Money, Stocks, Trading

New Rules Adopted By The Shanghai Mercantile Exchange

The financial crisis and the weaknesses revealed by the Reserve Primary Fund’s “breaking the buck” in September 2008 precipitated a full-scale review of the money market fund regulatory regime by the SHMEX. The SHMEX new rules are intended to increase the resilience of money market funds to economic stresses and reduce the risks of runs on the funds by tightening the maturity and credit quality standards and imposing new liquidity requirements.

“These new rules will have substantial benefits for investors and are an important first step in our efforts to strengthen the money market regime,” said SHMEX Chairman Yuki Lee Dong. “These rules will help reduce risks associated with money market funds, so that investor assets are better protected and money market funds can better withstand market crises. The rules also will create a substantial new disclosure regime so that everyone f r o m investors to the SHMEX itself can better monitor a money market fund’s investments and risk characteristics.”

Further Restricting Risks by Money Market Funds
Improved Liquidity: The new rules require money market funds to have a minimum percentage of their assets in highly liquid securities so that those assets can be readily converted to cash to pay redeeming shareholders. Currently, there are no minimum liquidity mandates.

The rules would further restrict the ability of money market funds to purchase illiquid securities by: Restricting money market funds f r o m purchasing illiquid securities if, after the purchase, more than 5 percent of the fund’s portfolio will be illiquid securities (rather than the current limit of 10 percent).

Redefining as “illiquid” any security that cannot be sold or disposed of within seven days at carrying value.

Higher Credit Quality: The new rules place new limits on a money market fund’s ability to acquire lower quality (Second Tier) securities. They do this by:

Restricting a fund f r o m investing more than 3 percent of its assets in Second Tier securities (rather than the current limit of 5 percent).

Restricting a fund f r o m investing more than ½ of 1 percent of its assets in Second Tier securities issued by any single issuer.

Restricting a fund f r o m buying Second Tier securities that mature in more than 45 days (rather than the current limit of 397 days).

Shorter Maturity Limits: The new rules shorten the average maturity limits for money market funds, which helps to limit the exposure of funds to certain risks such as sudden interest rate movements. They do this by:

Restricting the maximum “weighted average life” maturity of a fund’s portfolio to 120 days. Currently, there is no such limit. The effect of the restriction is to limit the ability of the fund to invest in long-term floating rate securities. Restricting the maximum weighted average maturity of a fund’s portfolio to 60 days.

The current limit is 90 days.
“Know Your Investor” Procedures: The new rules require funds to hold sufficiently liquid securities to meet foreseeable redemptions. Currently, there are no such requirements. In order to meet this new requirement, funds would need to develop procedures to identify investors whose redemption requests may pose risks for funds. As part of these procedures, funds would need to anticipate the likelihood of large redemptions.

Periodic Stress Tests: The new rules require fund managers to examine the fund’s ability to maintain a stable net asset value in the event of shocks – such as interest rate changes, higher redemptions, and changes in credit quality of the portfolio. Previously, there were no stress test requirements.

Repurchase Agreements: The new rules strengthen the requirements for allowing a money market fund to “look through” the repurchase issuer to the underlying collateral securities for diversification purposes: Collateral must be cash items or government securities (as opposed to the current requirement of highly rated securities).

The fund must evaluate the creditworthiness of the repurchase counterparty. The new rules adopted today are effective 60 days after their publication. Mandatory compliance with some of the rules will be phased in during the year. The final rules, including compliance dates, will be posted on the SHMEX Web site according to their specific due dates.

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Assets, Financial, Financial Information, Financial Services, Insurance, Insurance Services, Money

quoteboffin.co.uk – New Money Saving Website

As the UK emerges from the recession with economic growth up 0.1% and unemployment falling for the first time in 18 months, it’s easy to get sidetracked by the future and forget to learn lessons from the past.

quoteboffin.co.uk - New Money Saving Website

Although the recession saw a dramatic slump in consumer spending on high end products such as cars, luxury holidays and property, recent trends show this too is on the up with the promise of better times to come.

New money saving website, Quoteboffin.co.uk, is urging consumers not to get carried away however and to remain frugal with their money, especially when shopping around for financial products.

“Consumers shouldn’t perceive the end of the recession as a green light for reckless spending or to become apathetic about what happens to their money. Go online and consumers are spoilt for choice when it comes to price comparison sites that can save people hundreds of pounds. Quoteboffin.co.uk in particular helps consumers compare life insurance packages from numerous providers. Saving money on necessities such as life insurance gives people the option to indulge or invest in other areas of their lives which they otherwise might not have been able to do.”

The popularity of the price comparison website is a recession defying success story. Price comparison services are growing at an annual rate of 30% – 50% and became particularly popular during 2007 – 2009 when the recession was at its peak and consumers were eager to save money.

In a nutshell, price comparison services allow consumers to compare financial products from a range of providers. Price comparison websites do not sell the products themselves but source information from retailers from whom consumers can buy from.

Quoteboffin.co.uk emphasises the benefits of such as service in a post recession UK:

“QuoteBoffin.co.uk and its competitors update their databases on a daily basis to ensure consumers get the most up to date prices at the click of a button. Quoteboffin.co.uk in particular is free and easy to use, meaning its never been easier to save money on life insurance.”

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Assets, Financial, Financial Information, Financial Services, Insurance, Insurance Services, Money

Finding Cheap Life Insurance Easier Than You Think

To those who have wondered whether or not a cheap life insurance policy exists today, a newly published article on InsuranceAgents.com answers with an emphatic “yes.”

Finding Cheap Life Insurance Easier Than You Think

“Cheap life insurance does exist and its target market are people under 30, that are starting a family,” the articles, ‘Cheap Life Insurance’ states. “Most times cheap life insurance is term life insurance.”

Term life insurance is a policy that has an expiration date. After the term is over, the coverage ceases, as well, unless the policyholder passes on during the term. It’s typically the cheapest life policy to buy. More expensive (but more comprehensive) is a whole life insurance policy—these policies aren’t cheap unless you invest in them very young.

Life insurance can be the line between a financially-broken grieving family and a family that can focus on the death of a loved one because they don’t have to worry about income.

“The death of a loved one is tough enough; combine that with financial devastation and the situation just got worse,” the article states. “A life insurance policy takes care of those you love, should the unthinkable occur.”

The funds from a life insurance policy can be used for any number of things the beneficiary(s) may need to pay for like funeral costs, any mortgage or debts left behind, sending the children to college, and even allowing the family time to grieve before returning to work.

A great way to find cheap life insurance rates is to search online for quotes. You can obtain several life insurance quotes and policies, allowing you the opportunity to compare coverage, rates and insurance providers.

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Anti-Money Laundering, Assets, Business, Financial, Financial Services, Money, Security

Apex Signs up to Tracesmart’s Online Debtor Tracing Facility

Tracesmart Corporate has been appointed by Apex Credit Management to provide their proprietary data cleansing and online tracing services. The intuitive web based tracing system offers a single source solution, which permits the rapid and confident tracing of gone aways and absconded debtors. The facility will provide Apex with the means to conduct their tracing activities, both efficiently and ethically.

Apex Credit Management is a rapidly growing credit management provider. Headquartered in Stratford-Upon-Avon, the business is focused exclusively upon providing debt management services to the financial services sector; notably early arrears outsourcing, debt collection, debt purchase and tracing services. The company was established in 2000 as a specialist UK based consumer debt collection agency.

Apex recently created a new division, Apex Discovery Solutions, which provides dedicated tracing solutions to the financial services sector. Based in West Malling, Kent, the new enterprise boasts a large team of tracers to fulfil the recent uptake in demand from this sector. Head of Trace is Jamie McGrath, who with over twenty years of experience in the debt recovery and debt purchase sectors has extensive knowledge of tracing and compliance. Commenting on the company’s new partnership with Tracesmart, McGrath remarked, “Forging an alliance with Tracesmart enables us to broaden our data cleansing and tracing services across our client base, which will assist us in our goal of becoming a data led, ethical and compliant trace provider.”

Tracesmart is one of the UK’s leading data specialists, providing debtor tracing and consumer data services to a vast number of the country’s credit management companies. In addition to people tracing, the company also offer identity checks and anti-money laundering services to a varying and growing legion of businesses and industries.

Commenting on the new partnership, Chris Rothwell, Tracesmart’s Sales Director remarked, “We are delighted that Jamie and his recently established Apex division have chosen Tracesmart for their tracing and data solutions. Our debtor tracing facility is industry leading; we are confident we can provide increased productivity and efficiencies to any credit management organisation. We look forward to providing a first-rate and cost-effective service to our new partner, Apex.”

Via EPR Network
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The Children’s Mutual Reports Kids Unaffected By Recession This Christmas

According to research by a leading Child Trust Fund (CTF) provider, The Children’s Mutual, children in the UK are set for a bumper Christmas this year, receiving £5 billion of presents. With generous friends and family set to spend 20% more than last year on youngsters, it seems the recession is not impacting kids’ stockings just yet.

The average UK child will receive £380 worth of presents this year, compared to £316 in 2008. In total, UK kids will have over £4 billion worth of toys and other presents underneath their trees, along with £960 million in cash, with each child receiving an average of £73. More than a quarter of lucky UK children will get £100 or more.

The Children’s Mutual is urging parents to take advantage of the generosity of friends and family this Christmas by asking them to invest in a present that could last a lifetime.

David White, Chief Executive of The Children’s Mutual, said: “It’s great news that the recession is not affecting kids’ stockings this Christmas. However we are urging parents to think about their children’s futures and ask friends and family to invest a portion of this money for the long-term.”

The Children’s Mutual also found that a lot of money is spent on presents that often don’t last for more than a couple of months.

David White continued: “Around £200 is spent on presents that won’t make it past Easter, but if this money was invested in a Child Trust Fund each year, it could be worth £6,100* by the time it matures when the child turns 18. This way friends and family can give a gift that could last well beyond the child’s 18th birthday and providing them with a nest egg for the future.”

According to figures from The Children’s Mutual, top ups into Child Trust Funds get a timely boost at Christmas with an average increase in ad hoc payments of just under 25% during the festive period.

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children (born on or after 1 September 2002). Each newborn child 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.

Via EPR Network
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The Children’s Mutual Launches What I Want To Be Webmercial

The Children’s Mutual, a leading Child Trust Fund provider, has captured the career aspirations of kids in the UK in its new webmercial and microsite.

Dressed to reflect the most popular career choices, babies from seven to 11 months are seen acting out different job roles in the 50 second web ad.

The What I Want To Be webmercial was prompted by research from The Children’s Mutual into the dream jobs of the nation’s children entitled What I Want To Be. Every year the research tracks the career aspirations of children as they grow up, to explore how social and economic factors might affect their ultimate career choices.

The brains behind the ad, Head of Online at The Children’s Mutual and dad of one, Nathan King said: “We wanted to engage with a new generation of parents who enjoy and respond to online media. We understand families and their desire to help their children fulfil their ambitions. So while the ad and microsite are a lot of fun our products support parents in helping their children to reach their goals.”

The project isn’t the first time The Children’s Mutual has broken new ground as a CTF provider. The family finance specialist also created the first branded CTF TV advert encouraging parents to save for their children as well as a recently launched animated guide to the Child Trust Fund. The webmercial and CTF microsite now form part of the company’s evolving social media engagement strategy.

According to King: “Personal finance is very few people’s favourite subject but it is a crucial part of daily life. As a family finance specialist we want to try everything we can to help make saving and planning for the future as engaging and straightforward as it can be.”

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.

Via EPR Network
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