Lloyds axes mass-market investment advice

Lloyds axes mass-market investment advice
News from Money Marketing:

Lloyds Banking Group is axing its mass-market investment advice service from November, Money Marketing can reveal.

Only consumers with £100,000 or more to invest will be offered face-to-face advice through LBG’s private banking services.

In February, the group announced it will split its advice offering between basic protection advice and a “financial planning” service. LBG says this service will no longer be offered to consumers with less than £100,000 to invest after research showed the majority of these consumers are not prepared to pay a fee for advice.

Basic protection advice will continue to be offered to all consumers.

Money Marketing understands around 1,000 advisers will be affected by the decision but Lloyds says there will be no compulsory redundancies as a result of the move.

A Lloyds Banking Group spokesman says: “An extensive review of how the market will…………… continues on Money Marketing

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Questor share tip: Shanks is not a wasted investment
News from Telegraph.co.uk:

The company is highly exposed to the Benelux region, which generated 74pc of its revenue last year. The eurozone crisis has hit the house-building industry particularly hard, with new housing starts in the Netherlands current at their lowest level since 1953. Such macro pressures are expected to continue.

Operations in the Low Countries have now been reorganised into a combined Benelux solid waste business, with ongoing implementation of a shared service model. The business was built up by acquisition and there should be some scope to tidy up and centralise certain functions to reduce costs. This could also open up opportunities for generating additional revenues. Full details of further reorganisation will be announced at Shanks’s first-half results statement on November 8.

Analysts are now likely to cut current-year profit forecasts to around £30m.

However, the rest of the business is performing “robustly”. Shanks’s hazardous waste operation, which makes up about 38pc of profit, is trading strongly. The unit processes contaminated soils, waste water and petrochemicals. It has a “solid” order book and a good pipeline of future orders. We can also hope for some margins expansion from cost cuts.

The organics division, which uses food and other organic waste to produce energy, generates about 8pc of profit. In the first half of the year Shanks…………… continues on Telegraph.co.uk

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Student Solution Manual for Investments
This is the Student Solutions Manual for Investments 8th Edition 2009….