http://www.mbl.co.im/ MBL Financial Services help you build your investment portfolio with the expertise of professional fund advice. en Thu, 17 May 2012 00:00:00 +0100 http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=27 Thu, 17 May 2012 00:00:00 +0100 Over 100 competitors for round one of the KHG Funds Senior Open Competition 2012! The KHG Senior Open is back in 2012 with a bang! Over 100 entrants in round one of the series will take battle at Rowany Golf Club on the 24 th May - this first event will be sponsored by MBL Financial. Entries have been available during May and whilst the entry date has officially closed, ad hoc applications are still possible assuming entrants are flexible on tee time. The series is staged over four rounds commencing on May 24 th , June 28 th (Douglas), July 20 th (King Edward Bay) and August 16 th (Ramsey) the format will be Stableford with individual day prizes and overall prizes. This year's event has a new category, Super Seniors this class is for any player over 65, increasing the competitiveness of the event. The total prize fund is in excess of £3,000 the prize presentation for each day and overall will be held at a gala dinner on September 20 with Bernard Gallacher as the guest of honour. In addition to the four day sponsors MBL Financial Services, Boal & Co (Pensions), Creechurch Private Wealth and Black Grace Cowley, the series welcomes SMP Partners as spot prize sponsors of the day. The start times for the first event, held at Rowany Golf Club are listed below and all competitors should arrive 30 mins prior in order to register and receive refreshments before teeing off. KHG would like to wish all competitors good luck and should you have any queries regarding the event please do not hesitate to contact Debbie Gardiner on 653810. More information on the series including the start sheet can be found at www.khgfunds.com . Start Sheet 08:30 Mr B Mellor Mrs R Mellor Mr David Stacey 08:40 Mr Kevin Porter Mrs Kathryn Green Mr Les Millar 08:50 Mrs Pat Heesom Mrs Dorothy Yell 09:00 Mr Gordon Pairman Mr Adrian Copley Mr Gary Raeside Mr Rob Cowley 09:20 Mr William Roy Moore Mr David John Chrystal Mr John Brooks Mr Peter Crebbin 09:40 Mr Rod Jones Mr Derek Taubman Mr W J Moore Mr E Gleave 09:50 Mrs V Creane Ms G Orrell Pru Pell-Hiley Ms R O'Donohue 10:10 Mr Roger Butler Mr Bryan Waddington Wendy Hogan Ms Joy Phelan 10:20 Mr K Walls Mr D Christian Mr G Jones 10:30 Mr Mark Kneale Mr Roy Cooil Mr David Allan 10:40 Mr Sefton Henry Dent Mr Stephen Heap Mr Duncan Donald Mrs Joy Morris 10:50 Mr Anthony Thomas Mrs Rita Thomas Mrs Jillian Holmes 11:00 Mr Roland Birchall Ms Christine Bean Mr John Matthews 11:10 Mr Michael Atkinson Mrs Moyra Atkinson Mr Peter Henry Smith 11:20 Mr E Corkish Mr C Quayle Mrs Pauline Merrill Mr R Merrill 11:30 Dr Roy Bridson Clague Mr Frank Preece Mr E Watterson 12:00 Mr Peter Holt Mr Stanley Buzzar Mr Brian Kelly 12:10 Mr Mark Pugh Mr Billy Coleman Mr Brian Horne Mr Paul Daniels 12:20 Mr Alan Cook Mr Sammy Tumblety Mr John Shields - MBL Mr Dave Murray 12:30 Mr Matt Evans Mr Ian Duggua Mr Richard Ellis Mr P Craine 12:50 Mr G Harris Mr J Yardley Mr P Games Mr E Russell 13:00 Mr P Vanderpump Mr David Evans Mr Peter Whitfield Mrs Fay Evans 13:10 Mr Mike Henthorn Mr George Ferguson Mr Gordon Drake Mr Seamus Nugent 13:20 Mr M Kewley Mr Guy Sutton Mr Malcolm Quayle 13:30 Mr Jeffrey Gough Mr Andrew Walker Mr Colin Crawshaw 13:40 Black Grace Cowley Black Grace Cowley Black Grace Cowley Black Grace Cowley 13:50 Knox House Trust Knox House Trust Knox House Trust Knox House Trust 14:00 Mr John Fenlon Mr Patrick Delaney Mr Robert Walker Mr B Cowell 14:10 Mrs Jasmine Heginbotham Mr Roger Heginbotham Mr Brian William Kelly 14:20 Creechurch Private Wealth Guest Guest Guest 14:30 SMP Partners Guest Guest Guest http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=28 Thu, 17 May 2012 00:00:00 +0100 Greece's bombshell election results have given the world a lot to consider, none of which is comforting. For political pundits, it's the demise of mainstream parties; for some historians, it's Weimar Germany in the making; and for investors and corporates, its Greece's EMU exit. Looking back it's interesting that it is two years almost to the day that we were reeling from the 998 point brief intra-day flash crash in the Dow Jones Index, and a Greek situation that was continuing to spiral out of control taking other Sovereigns down with it. We also had President Trichet at the ECB press conference flippantly dismiss suggestions that the ECB would resort to buying Government bonds. A day of turmoil later and the cast was set for the subsequent weekend's activity where we saw the 'shock and awe' Trillion Dollar Sovereign EU/IMF rescue package for Europe and an ECB that first committed to buying European Government bonds. Two years on and several EU summits and bail-out updates later and we are still on the brink of major European Sovereign stress. We have just seen the fourth attempt at a Spanish bank rescue package whilst Investors continue to trade the latest political headlines in Greece. So it is crunch time for Europe's adjustment strategy. The initial 2010 crisis-fighting experiment has hit the rocks, with Greece now threatening to abandon the Troika sponsored program. Meanwhile in Spain, policymakers are backstopping the banking system as the sense of urgency escalates. Moreover, while financial markets wobble, the European Council is making room for a new, austerity sceptic, French President. As the growth outlook deteriorates, the euro area has to recalibrate its policy response and shore up market confidence. The growth-versus-austerity dilemma is heating up. Those in the growth camp argue that frontloading fiscal tightening during a recession is self-defeating. But the ECB backs austerity on the grounds that; (i) there is not much of a choice for countries that have lost market confidence; and (ii) although austerity hurts in the short-term, if accompanied by structural reforms the implementation of fiscal austerity can eventually help the economy through a confidence channel. The ECB and the northern euro area are crusading against moral hazard (giving bailouts without the assurance of future fiscal discipline) aiming to build a robust institutional framework for the future of the monetary union. However, regaining fiscal credibility is a marathon, not a sprint. Speedy deficit reductions can backfire, as political support for the adjustment wanes alongside faltering growth. This sounds like a 'Catch-22', but as IMF Managing Director Christine Lagarde recently remarked, growth-versus-austerity is a false choice; there is a middle road. The IMF has learned the hard way the importance of balancing moral hazard of inadequate adjustment against the risk of popular backlash and program failure. So when we read back on what was said about the Euro crisis two years ago it's particularly disappointing at the uncanny similarity to what we hear today. The reality is that unless the ECB become the unconditional, consistent and permanent provider of liquidity this crisis is likely to go on and on. It may lay dormant for periods and there may be heavy bouts of one-off interventions but the debt burdens are too large to grow out of naturally without an ever constant ECB operating in the background, especially if austerity continues to be the prevailing fiscal theme. When the Governor of the Bank of England declares that "Our biggest trading partner is tearing itself apart with no obvious solution" and revises down UK growth to 0.8% for 2012 we must acknowledge that like it or not Europe matters to UK Plc. Sadly, the path ahead for Europe looks to be one of continued pain, missed budget targets, and elevated financial market stress. For this stress to remain contained within the region, the firewalls and liquidity supports put in place last year must hold. Recent political developments raising the risk of a Greek exit from EMU will likely test their strength. Equities 1 Month Return Last 3 months Last 12 months S&P 500 INDEX -4.74% -2.68% -0.31% FTSE 100 INDEX -7.26% -9.43% -8.74% MSCI World USD -4.92% -5.90% -9.88% MSCI EUROPE x UK -7.23% -10.16% -17.70% Commodities GOLD SPOT $/OZ -6.44% -10.65% 3.50% S&P GSCI Tot Return Index -6.72% -8.22% -6.74% Foreign Exchange DOLLAR INDEX SPOT 2.59% 2.77% 8.13% Source: Bloomberg 14.02.12 http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=26 Mon, 30 Jan 2012 00:00:00 GMT Members of the Isle of Man Government Superannuation pension schemes face a huge decision, which will affect their pension benefits for the rest of their lives. The changes to the pension scheme, quoted as being the most radical in a generation, aim to streamline around 20 pension schemes into one single scheme. This will affect up to 7500 members. Members have until 28 February 2012 to make a decision. If members do not make a decision a default option will be selected on their behalf. MBL Financial's team of qualified advisers have received detailed information about the Unified Scheme and have been given access to relevant scheme documentation to help them understand the changes. Time is running out, if you are a member of Isle of Man Government employee pension scheme and have received your Pension Comparison Illustration, please contact a member of the advisor team at MBL Financial by emailing info@mbl.co.im or calling 672233 and ask to speak to an adviser. http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=25 Thu, 15 Dec 2011 00:00:00 GMT Building on the success of its range of Isle of Man trust-based personal pension solutions launched early in 2008, Boal & Co today launches 'Rewards' , a new trust-based group personal pension scheme which provides Isle of Man employers with a comprehensive and modern vehicle to enhance their existing employee benefit package. Rewards offers unprecedented investment access to over 6,000 investment funds from over 200 different investment managers, enabling advisers to select and define a unique range of funds suitable for the individual needs of companies and their employees. With state-of-the-art online interactive access for employees, employers and advisers, Rewards streamlines the workload of HR departments, provides instant up-to-date valuations, access to fund and scheme information, and provides a co-ordinated platform for advisers to communicate with their corporate and individual clients. Rewards is wholly administered by Boal & Co in the Isle of Man. Commenting on the launch, Boal & Co director Mark Kiernan said: "Following feedback from some of the Island's largest corporate financial advisers, Rewards has been developed from the ground up over the last 12 months to provide advisers, members and employers with a modern group pension solution. The Boal & Co team has worked hard to put together an Isle of Man pension platform, which takes full advantage of the recent pension changes introduced by Tynwald. "Companies, members and advisers will all be able to avail of the enriched online functionality which has been put together by Boal & Co's experienced team. "We are confident that what we have developed will not only be a great solution for new schemes, but also for existing schemes held off-Island in legacy UK insurance products which do nothing for the economy of IoM plc." Boal & Co (Pensions) Ltd is registered with the Isle of Man Insurance and Pensions Authority as a professional schemes administrator. Boal & Co does not offer investment advice, which is instead available through selected local financial advisers. David Wilkinson, CEO of the Island's largest firm of independent financial advisers, MBL Financial, added: "We have been working with Boal & Co for a number of years and we are really pleased to work with them again on what is a unique solution for corporate pensions. As a Manx company, MBL has served the Island for over 25 years and where possible endeavours to keep business local. Rewards is a perfect example of how local expertise can be used to take advantage of the subtle differences between UK & Isle of Man pension regulations for the benefit of the Manx public, and at the same time support the economy of the Isle of Man by keeping business and revenues on the Island." Boal & Co has been providing pension solutions to both local and international companies and individuals for over 15 years. Clients include some of the world's best-known companies, including five 'Fortune 500' employers alone. Whilst Boal & Co now has pension clients in over 30 countries, the local Isle of Man market remains an important one for the firm, which is evidenced by the launch of Rewards . http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=24 Thu, 24 Nov 2011 00:00:00 GMT We have announced that we are linking up with the Isle of Man Post Office in a ground breaking service for Manx residents. From December, customers using any of the Island's 25 post offices will be given the opportunity to receive a no obligation financial review from MBL Financial. It is an idea which has been given the full support of the Post Office and is being run as a joint venture project. The initiative will be promoted through a series of leaflets and posters at each outlet under the slogan "It's Always the Right Time for Financial Advice". Anyone needing assistance on key financial issues such as savings, pensions, mortgages, family income benefit, life and critical illness cover and investments can take advantage of the scheme. The campaign launches officially on Thursday 1 st December. Customers wanting help simply have to provide their contact details on the back page of the in-branch leaflet and either hand it in at the Post Office or post it using the Freepost address. A member of our team will then get in touch. Our Chief Executive David Wilkinson said that we are proud to be associated with the Isle of Man Post Office on such an important initiative. "Given the current economic climate, we believe it is vitally important for residents across the island to have "open door" access to an independent financial review service. We would stress that this is a no obligation service and our friendly and experienced advisors will be pleased to give a helping hand to anyone who feels they need it. "It might be about obtaining a mortgage, seeing whether you can get more out of your savings or maybe you are concerned about your current pension arrangements. Whatever the reason, we are here to offer a complete, impartial consultation," said Mr Wilkinson. Mr Geoff Corkish MBE MHK the newly appointed Chairman of The Isle of Man Post Office welcomed the introduction of the new service. "We are delighted to have entered into this collaboration with MBL Financial and to be promoting their services to all our customers across the Island. We believe that they will be able to provide an invaluable service to many of our customers who may need the benefit of a financial review at the current time." http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=23 Mon, 21 Nov 2011 00:00:00 GMT The savings outlook for Brits looks bleak at the start of Financial Planning Week, with one in ten people saying they doubt they'll ever be able to retire. Around 50 per cent of people are estimated not to be saving for retirement as they struggle to pay down debt, according to a new survey from the Institute for Financial Planning. In fact, the data found only one in five people think they're saving enough for their future needs. The study comes at the start of Financial Planning Week. Almost half of Brits said they are not confident they've saved enough to live comfortably when they retire, with women particularly at risk - 55 per cent fall into this category. Of the 2,000 people surveyed, 14 per cent have never made any pension contributions, and a further 31 per cent are not currently contributing to a pension plan of any sort, but have done in the past. Looking at what age the respondents think they will be able to afford to retire, one in ten think they will never be able to, including a worrying 12 per cent of over-55s. Despite concerns over their future standard of living in retirement, many people are not planning to put money into pension plans to try to improve their position, or may not even be aware that they need to. 41 per cent say they would consider making additional contributions into pension plans to avoid delaying their retirement due to the planned increases in the state retirement age. People are still reluctant to seek professional help when it comes to their finances, though. When asked about how they proposed to improve their future financial position, only 4 per cent said they would get professional help. The most popular response was to reduce debt, but 14 per cent said they had no idea how they would improve their situation. While 17 per cent say it is likely that they will seek advice from an IFA over the next six months, only 15 per cent felt that professional help would give them peace of mind that their financial affairs are in order and being monitored regularly. Nick Cann, the chief executive of IFP said: "Yet again this year, our survey findings present a worrying picture for so many people who are facing an uncertain future yet not taking appropriate steps to improve their financial situation." He added; "Whilst accepting that there are things that consumers can do themselves, the services of a professional Financial Planner are invaluable to help the consumer get the context that they need when planning their finances, and their lives, effectively." Source Lora Coventry 21 Nov 2011Trust Net http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=22 Thu, 29 Sep 2011 00:00:00 +0100 MBL Financial is delighted to welcome Jim Anderson as the latest addition to their experienced team of Financial Consultants. Jim has over 25 years experience in the Financial Services Industry, having spent 8 years with Liverpool Victoria Insurance as a Financial Consultant before becoming office manager. In 1994 Jim moved to the Isle of Man bank, (now part of the Royal bank of Scotland International group) and for the last 17 years has been providing independent financial advice to the clients of the Isle of Man bank, NatWest bank and Royal Bank of Scotland International. Jim commented that MBL Financial are committed to being the premier Financial Services provider on the Isle of Man and as such, the opportunity to join such an enthusiastic and dedicated team was too good to pass up. I look forward to the challenges ahead and assisting the many clients of MBL Financial in finding the savings, investment, life assurance, pension and protection contracts that are right for them. Commenting on his appointment, Ed Walter, MBL's Sales Director added 'I am really looking forward to working with Jim, I am delighted he has decided to join us. Together with our other additions to the team earlier in 2011, this truly underlines MBL's commitment to the local marketplace by demonstrating our ability to attract individuals of this calibre. http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=21 Mon, 19 Sep 2011 00:00:00 +0100 Amy is the lucky winner of the iPad 2 The lucky winner of the MBL Financial Apple iPad 2 competition has been drawn from over 200 entries in the prize draw. Amy Cochrane successfully completed the golf challenge at the MBL Financial stand at this year's Royal Manx Agricultural Show at Knockaloe Farm, Patrick, and correctly guessed the answer to the question: 'which anniversary is MBL Financial celebrating this year?', the answer being 25 years. Commenting on winning the iPad2, Miss Cochrane said, "I am really pleased to have won this, my laptop needed replacing and with my partner being recently posted to Afghanistan for six months I can now keep in touch with him on a regular basis". David Wilkinson, Chief Executive Officer of MBL Financial said "being at the Royal Manx Show this year was a great opportunity for our company to meet members of the public and highlight the range of financial services that we offer. We are extremely delighted to present the iPad2 to Amy and we are really touched that it is going to help her keep in touch with her partner serving in the armed forces". http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=19 Wed, 10 Aug 2011 00:00:00 +0100 This year MBL Financial will be attending the Royal Manx Agricultural Show in Patrick, 12th to 13th August, 9am to 5pm, Stand 65 As we are celebrating our 25th Anniversary of serving the Isle of Man, we would like you to join us at the show. This will be an excellent opportunity to meet some of the team and enjoy some light refreshments. There will also be a golf chipping challenge and a prize draw to win an Apple iPad. Whatever the weather, this year's show is set to be better than ever and a fun day out for all the family. We look forward to seeing you there. http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=17 Fri, 8 Jul 2011 00:00:00 +0100 MBL Financial is pleased to announce their latest appointments to its growing strength of experienced staff. Chris Wasley has recently joined the MBL Financial team as a consultant bringing with him over 35 years experience in the Financial Services industry, more recently with a major offshore Bank. Chris says he is looking forward to helping develop such a go-ahead company which has great plans for the future. He is Manx born and educated with two children and having been involved in several different sports over the years, is now happy to concentrate on his golf. Allen Widdup, adopts the role of Trainee Consultant bringing with him over 25 years experience in the retail industry. Allen moved to the island two years ago with his wife, Rebecca, and their two daughters, to take up the position of store manager for the prestigious brand, Bang & Oulsen. It was during his 5 years with the company that he earned the accolade of Sales Person of the Year for the UK, Ireland and Benelux. Allen is delighted with his new appointment stating.…"it is typical of the forward thinking of MBL Financial that allowed me this opportunity and their ethical aim to be the biggest and best financial services firm on the island is just one reason why I was attracted to the company". Allen hopes that his friendly, non-jargon, consultative approach and his knowledge of the financial industry will be a winning combination. Commenting on their appointments, Sales Director Ed Walter added 'Appointing Allen & Chris further underlines MBL Financial at the forefront of the advice sector and really bodes well for the future. To attract an individual of the calibre of Chris shows how well positioned we are as a company in the local market. Allen is the future of this company, and we are proud at MBL Financial to be able to offer someone of his experience the opportunity to transfer his skills to a new and challenging role. http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=18 Fri, 8 Jul 2011 00:00:00 +0100 With global interest rates at an all-time low and international real estate prices at rock bottom, has there ever been a better time to buy a property? There is a common misconception that as an expat living overseas, it can be almost impossible to get a mortgage, especially in the current economic climate. The reality is that the opposite is the case. Several major UK banks have international subsidiaries providing the internationally mobile expat with a range of services, including mortgages for an investment property or a holiday home overseas. Available in a range of currencies and for properties in most developed countries, including Australia, New Zealand, the USA, Canada, Hong Kong, Dubai, the UK and Europe, mortgages are being offered at rates from as low as 1.69%. But what about a deposit? Following the aftermath of the recent banking crisis and the issues that came out of the woodwork with revelations of banks poor credit policies, lenders have been forced to tighten their qualifying criteria. However, most see this as a return to the norm of traditional lending policy, such as the requirement for a 30% deposit. However, it is possible to use equity in an existing property or investment portfolio and mortgages are available for up to five times income. Some lenders will also use to 50% of any rental income too. Interest only mortgages are also available, particularly useful for investment properties or for tax and estate planning. Obviously there is a lot to consider when buying a property outside of your home country and you should be careful to make sure that you get all the appropriate professional and legal advice as well as a survey. Although it is possible to make a quick profit, if you are buying a property as an investment it should be seen as a long hold and always take into account the relevant taxes and fees whenever you buy or sell. If you plan to rent your property out and use the rental income to cover your mortgage, be sure that you can still afford your repayments if the property is not rented out. Remember, your home is at risk if you do not keep up the repayments on any loan that is secured against it. So if you are thinking of buying a home back home or overseas, you may be surprised how easy it is to take advantage of the current downturn in the property market and low mortgage interest rates. Stephen Burdett Cert PFS DipFA, Business Development Director, MBL Financial http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=16 Mon, 13 Jun 2011 00:00:00 +0100 The Chartered Insurance Institute (CII) has been looking into the cost of living for pensioners and has revealed that the average income in retirement will be 70% less than income pre-retirement. Their research also highlights a massive £9tn retirement shortfall in the UK when factoring in the increase in life expectancy, the decline in the number of final salary pension schemes and lower annuity rates. In addition to this, the amount of people still having a mortgage into retirement is on the increase, as some banks will lend into retirement, up to the age of 75, also, the amount of pensioners requiring long term care is also on the increase, with the average cost of long term care now in excess of £20,000 per year. David Thompson, Director of Policy and Public Affairs at the CII said 'the scale of the problem is massive, but can be combatted if the government clearly explain to the public that the state will not, and cannot, pick up the bill. Doing nothing is not an option if the public wants a reasonable retirement income.' David went on to say 'the financial services sector should shoulder its responsibility and embrace reforms in improving the standards and levels of trust in financial service products and providers.' Steve Burdett DipFA, Business Development Director at Isle of Man based IFA firm MBL Financial said 'the pension shortfall in the UK is definitely a major concern, the shortfall is actually greater than the total of the US 10-year budget deficit projection and most people will not fully appreciate the impact of the shortfall in retirement income until it hits them, by which time it is too late. The Isle of Man is no different, the average weekly income in the Island is now £590.75, however, even with the full Manx pension supplement of £49.85 and a full State pension of £102.15, this only comes to £152 per week, which is 75% less than the current average weekly income. Clearly this is a serious issue if we expect to maintain our standard of living throughout our retirement.' Steve went on to say 'the UK Government is addressing this issue by making private pensions compulsory for all employees in the UK. Every employer must fund some retirement provision for their employees under a new initiative called NEST (National Employment Savings Trust). From October 2012 UK employers will be required to automatically enrol employees into a 'qualifying workplace pension scheme'. This auto enrolment could be to an existing company pension scheme if it meets certain criteria. If it does not meet the criteria or if the employer does not operate a company pension scheme then employees will be enrolled into NEST, a simple, low-cost pension scheme. Between October 2012 and 2017, depending on the size of company, all UK employers will be required to contribute a minimum of 3% of each employee's eligible earnings into a pension, assuming the employee does not "opt out". This is intended to incentivise them to start saving towards their retirement. Employees will need to pay a personal contribution of 4% with a further 1% tax relief being added to make the minimum contribution 8%. This leaves UK employers with a pivotal role and the Government is proposing key measures designed to minimise the burden on them.' The Isle of Man has not made any compulsory requirement for employers to provide a pension on behalf of their employees, therefore it is down to us all to make sure we have adequate savings for our retirement. A pension is a tax efficient way to save for our long term income when we retire and the policy makers in the Island have made it easier for people to start a pension by simplifying the rules and increasing the limits. Steve added 'although there is no statutory requirement in the Isle of Man for employers to offer a pension to employees, now that the Government here has made pensions a lot easier for the public to understand and more flexible in terms of contributions, benefits and investment options, we have seen an increase in the number of providers offering pensions to Isle of Man residents and as a result of that, a much wider range of low cost, user friendly solutions, private pensions have never been more attractive than they are now. If any individual or company is thinking about their own pension options or if they have a personal or company pension in the UK and want to find out how an Isle of Man pension could be significantly more beneficial for them or their staff, they should contact us for a free initial consultation. http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=15 Mon, 9 May 2011 00:00:00 +0100 John Shields of MBL Financial has been dealing with mortgages for 15 years with 12 Years on the Isle of Man before which he worked in the UK for 3 years, with his years of experience he has seen a many changes in the market place and comments on the current property and mortgage market. With more that two years passed since the height of the credit crunch and the sharp decline in property prices in the UK, the Isle of Man property market continues to remain largely unaffected. We have been fortunate enough to escape unscathed and properties in some sectors have continued to grow in value year on year. Rental demands and yields have stayed strong and property sales have continued throughout the global economic downturn, owing mainly to the unique economic situation the island enjoys as a key partner in the international finance sector. MBL Financial have seen that local lenders have continued to offer mortgages and we even have seen the return of 90% Loan-to-Value deals and other 'helping hand' offers from banks assisting local residents to get on or move up the property ladder. Interest rates have been at a record low for over 24 months, meaning that mortgages have never been so affordable. Continued property development across all sectors and Government assisted house purchase schemes have also sustained the property market. To add credence to the strength of the local property market, a recent article published by the BBC states that the average house price in the Isle of Man is over £270,000, nearly double the average in the North West. With so many mortgage products available and so little free time available these days, it is no wonder that moving house is ranked in the top five of life's greatest stresses. All the shopping around trying to find the most suitable mortgage, the best deal for the legal work and trying to move all of your prized possessions from house to house whilst managing a full time job and a family, it is easy to see how this takes it toll. What a lot of people don't realise, is that we can help, MBL Financial work independently of all banks on your behalf to source the best mortgage deal for you, based on your requirements, saving you the time to search the high street for the most competitive rates. MBL Financial also work with the lender throughout the process and assist with valuations and lawyers and often can arrange special discounted terms for you, saving you money when it matters the most, after all, moving home is expensive enough. If you are thinking that nowis the right time for you to take advantage of a strong, active property market, or if you want to get on or move up the property ladder, why not take a lot of the stress out of buying your home by contacting MBL Financial on 672233 or via email info@mbl.co.im . http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=13 Thu, 21 Apr 2011 00:00:00 +0100 David Wilkinson CEO MBL Financial In response to the unprecedented economic backdrop that threatened the very foundations of UK banking system in 2008, the MPC took swift and decisive action slashing the UK Base rate to historically low levels. Although such action was necessary to assist in averting further problems in the economic system by reducing borrowing costs for debtors, specifically households, who benefited from the boost that they received through lower mortgage payments. This alongside companies ability to reset their existing loans at historically low levels has attributed to the low level of default that many commentators were predicting. Whilst the above action has assisted greatly in ensuring that loan repayments are made they have not resulted in lowering the large debt overhang which is still in place today, with variable rate mortgages at historically high levels the impact of the inevitable rate increases may be greater than expected making the predicted Base Rate of 2.5% in 3 years far from a certainty. In addition the 'elephant in the room' for all savers or those on fixed income is inflation. We are currently entering a new inflationary cycle which is being driven by higher energy and commodity prices, the impact is felt across society as there is little that can be done to avoid the impact as they are felt in the very basic and necessary items. It is therefore unclear as to how interest rate increases by the MPC would have any impact in countering these "cost push" inflationary pressures as they are external and driven by global forces, a point recently highlighted by the MPC Governor himself. That said, the impact is felt and it should be noted that since the Base Rate moved to 0.5% in March 2009, the Isle of Man RPI figure has increased from less than 5% to the current 6%. So against this backdrop the conversation that dominates a large part of society with savings and a reliance on the income from these, is how to generate an attractive rate without placing the capital at undue risk. This is a key point as anyone who is retired has to ensure that capital is relatively secure as they have less ability to replace any losses, unlike someone who is still in active employment. For this reason the asset class of choice for most retirees, is some form of bank/building society deposit. Although relatively secure, recent history has demonstrated that risks do exist, and also the market is clearly split between first and second tier institutions, the latter compensating for their weaker status with higher rates. In efficient markets that exist in the Western economies there is no such thing as a 'rate anomaly' instead there will always be a clear reason why a particular institution is paying higher rates than its peer group. Most likely it will be an underlying funding requirement that cannot be met from other sources, although at times the most solid of institutions may offer attractive terms for a limited period to capture market share. However, given the subdued interest rate outlook and the inflationary backdrop, it is worth looking at the options to diversify into more rewarding and sustainable assets. Bond Funds With longer term yields significantly higher than current interest rates, the attraction of a Bond Fund is that it provides access to a high income yield in a well diversified fund, which reduces risk. Depending on the mandate of the Fund, some also take credit risk through buying bonds issued by lower quality corporations and/or sovereign debt. Through this mechanism it is possible for these types of Funds to distribute up to 7% pa interest. That said, a number of commentators are not positive on this type of investment fearing rising interest rates and persistent inflation will impact the capital value of the bonds held. It is for this reason that the strategy of the investment manager and the funds mandate should be understood to see if there is flexibility for the Fund to evolve to changing market conditions to protect the capital. Commercial Property Although an asset class that has suffered in recent years, especially through a large number of funds having restricted access or closed to redemption, this is largely as a result of over aggressive leverage rather than a fundamental weakness of the assets class. Property has always provided a good inflationary hedge alongside an attractive income stream. Liquidity is always an issue and commercial property should always be viewed as a long-term investment, but with those proviso's certainly worthy of further investigation. A word of caution again surrounds understanding the mandate of the fund as the evolving use of commercial property means that the usage and areas of the assets held are key, as is the level of debt (leverage). Structured Products This is an area that has emerged as a key asset class over recent years. Their flexibility allows for an infinite combination of risk and reward, ranging from a straight forward enhanced deposit product with capital security through to a high risk, leveraged note on a basket of commodities or an emerging market. Understanding of the risks are key as is the ability to be able to lock away funds for the provider's term - usually 5 years although shorter terms are sometimes available. Equity Income Funds For sustainable long term income growth, Equities are often favoured and certainly over the long term are a useful, if imperfect, guard against inflation. In addition there are a wide range of Funds that have a specific mandate to produce income and whose yields are ahead of current cash rates. The volatility of the equity market cannot be ignored and for this reason any investment must be carefully considered and the correct professional advice taken. However, for those investors who can accept this volatility, an element of equity exposure should prove to be complimentary to the overall portfolio of assets. Summary As ever the challenges facing an investor today are many, and the outlook is far from certain. Geopolitical events, natural disasters and rising inflation make compelling reasons to diversify away from cash holdings and take steps to protect capital in equal measure. The choices are innumerable and as such the value of an independent financial advisor has never been of greater value, especially one that has the strength in depth to provide quality advice in this specialist area. http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=14 Thu, 21 Apr 2011 00:00:00 +0100 Back in 1986 we as a new IFA firm opened ourdoors to the public, with the hope of one day becoming one of the islands largest Independent Financial Advisors. Now 25 years on and under our new name of MBL Financialwe are still growing and are now one of the islands largest IFA firms in relation to the clients they look after. With 21 staff 14 of whom are qualified in their respective fields, along with new offices at 20 Finch Road they are "planning today for tomorrow's aspirations". As part of our celebrations over 75 guests including corporate and private clients attended the MBL Financial 25th Anniversary Client Seminar on the evening of Wednesday 13th April. The event was held at the Manx Museum Lecture Theatre & Art Gallery and was co-sponsored by Creechurch Capital and the Prudential. Guests listened to presentations by David Wilkinson, CEO of MBL Financial who welcomed the attendees and shared with them the wide range products and services from Pensions to Mortgages that MBL Financial are able to offer. John Greenwood , CEO of Creechurch Capital then talked about the Global Investment market place and how the services and products that Creechurch are able to offer their clients can assist them and finally Paul Fidell. Head of Business Development - Investments for the Prudential shared his thoughts on how the financial world had changed over the last quarter of a century and what he saw were some of the best options for portfolio Investment over the next few years. Guests were then invited and welcomed into the Art Gallery by the MBL Financial teamto enjoy canapés and drinks served by local professional caterers and were able to ask any questions and discuss any objectives they may have in respect of their own needs or with the Guest Speakers as well as the wider MBL Financial team. When clients departed they were presented with a gift package to mark the occasion which also included details on MBLand the two companies who supported the event. CEO David Wilkinson commenting on the evening "It was a pleasure to meet so many of our valued clients and corporate introducers at the seminar, and to share with them the services that MBL Financial can offer as well as how two of our valued partners see Investment Markets developing in the coming months". Left to right: John Greenwood - CEO Creechurch Capital. David Wilkinson -CEO MBL Financial. Paul Fiddell - Head of Business Development Investments. Left To Right: Lorna Gallagher Managing Director Property Wise, Paul Doyle Finance Director Forest Homes, Tony Weston Sales and Marketing Director Property Wise. Left to right: Steve Burdett MBL Financial Business Development Director, Charmin McMorris, Noel McMorris. http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=12 Tue, 19 Apr 2011 00:00:00 +0100 MBL are proud to sponsor 'The KHG Funds Senior Open' The tournament is aimed specifically at both male and female golfers aged over 50.The inaugural series, sponsored by KHG Funds, will be staged over three rounds on May 27, June 30 and August 5, Stableford format with individual prizes on the day and an overall. Prizes will be awarded at the end of each competition, and the overall winner total of the event, the total prize fund is in excess of £3,000. The series is designed to provide both a competitive platform but also an opportunity for senior golfers from around the Island to participate in an enjoyable and social day's golf. The action gets under way on Friday, May 27, at Castletown Golf Club, with round two at Ramsey on Thursday, June 30, and the final leg on Friday, August 5, at Peel followed by the prize presentation and buffet. Tee times have been reserved between 9am-3pm and players will go out in groups of three for the 54-hole tournament. Numbers are restricted and will be allocated on a first come first served basis. Entries received after all the places have been allocated will be held on file as a reserve list and any fees returned. A full handicap will apply and the entry fee is £40, which will include three days' golf greenage, refreshments pre and during every round with a buffet after the final round at Peel. It is hoped that the KHG Funds Senior Open will become one of the season's top events with prizes on each day for first, second and third places in both male and female categories in addition to the overall. David Wilkinson CEO of MBL Financial commented "the opportunity to be part of such a prestigious golfing event cements MBL Financial's commitment to the Island". Players requiring an entry form or any additional information should contact Debbie Gardiner at Creechurch Capital on 653810 or visit www.khgfunds.com . http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=11 Wed, 23 Feb 2011 00:00:00 GMT Following the recent appointment of CEO David Wilkinson, MBL Financial has announced three senior appointments within the company. Steve Burdett has been appointed as Business Development Director. Previously working for a major international bank for 5 years, Steve joined MBL in 2005 and worked as a Senior Financial Consultant, providing independent financial advice to local and international clients. As Business Development Director Steve is responsible for, identifying opportunities, working with international life and pension professionals to develop products and solutions that meet the ever changing needs and demands of clients. Commenting on his recent promotion, Steve said, 'I am delighted to be appointed to the role of Director within MBL Financial and have the opportunity to build on the 25 years of service that we have provided our clients. Over the past 6 months there have been significant developments within our company and we have strengthened our service proposition to the island and grown our team to 20 staff and now service around 5000 private clients'. Ed Walter has been appointed as Sales Director. Ed has over 18 years experience of Financial Services with the last 14 coming in the advice sector. Ed re-joined MBL in 2008, following a successful 3 and half year period with a major offshore Bank and has now been with the company for almost 6 years. His responsibilities include day to day management of the company's team of financial consultants, whilst ensuring his own portfolio of local and international clients are looked after to meet the ever changing financial climate we find ourselves in. Echoing Steve's comments, Ed added 'MBL is positioned at the forefront of the advice sector on the Island, and it is a fantastic opportunity to be involved in the day to day running of the company at such an exciting time. It is our intention to be regarded as the number one provider of financial advice locally, and with the team we have in place which boasts in excess of 270 years experience between them, we are well placed to achieve this goal'. Ed is married with 2 children, is a keen golfer, and it is his intention to complete this year's Parish Walk for a second successive time. Tracy Prescott has been appointed as Sales Support Manager and also continues her role as Financial Consultant. Tracy started her career undertaking a modern apprenticeship and went onto work for a major international bank for 8 years in several jurisdictions. Tracy joined CFS Financial Consultants in 2008, working as a Financial Consultant and Para Planner to the company directors. Through the merger of MBL Financial and CFS Financial Consultants Tracy continues in a dual role and remains MBLs only female Financial Consultant which adds another dimension to the team. Commenting on the appointment of Tracy Prescott as Sales Support Manager, Ed said, 'Tracy brings a wealth of experience to the team gained in three different jurisdictions, and her role is crucial to the ongoing success and continued growth of MBL. I am delighted that Tracy has been appointed to this role as it is a reward for her unwavering commitment to the business and her excellent attitude towards both clients and colleagues. http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=10 Tue, 15 Feb 2011 00:00:00 GMT Due to Government action, spending has been reduced further and faster than previously planned. In 2011-12 - We have achieved further savings of £25 million in addition to the £26 million delivered last year Spending is £11 million below last year's rebalancing plan. Staff costs are £26 million (8%) below the 2011-12 projected level and £9 million below last year's actual budget. Staffing was reduced by 99 posts last year. This year there will be a further reduction of 285 posts. Therefore, the reduction over two years will be 384 posts. In addition to these savings we have accommodated - Gross Spending on benefits of £248 million, £10 million (4%) higher than last year, including £141 million on the State Pension and Pension Supplement. Net spending on Health up by £7.5 million (6.5%), after adjusting for the transfer of shared services functions. A Capital Programme of £101.8 million for Government Departments and Statutory Boards. £67 million of construction schemes including, £21.2 million to be spent in the Local Authorities' Housing Programme. In respect of Taxation - The income tax standard rate for individuals remains at 10%. The income tax higher rate for individuals remains at 20%. Income Tax personal allowances unchanged at £9,300 for single persons and £18,600 for married couples. Additional Personal Allowance for over 65's remains at £2,020. The threshold at which the higher rate for individuals becomes payable remains at £10,500. Increase in Personal Allowance Credit from £650 to £700 per person or £1,400 per couple Removal of Tax relief on Class 4 National Insurance Contributions but do not increase rates of National Insurance on Class 1,2 or 4 contributions by 1% as introduced in the United Kingdom from April 2011. Removal of Tax relief on new Educational Deeds of Covenant, and reallocation to student awards. Cap on Mortgage and Loan Interest relief reduced by £2,500 to £7,500 per person per annum. Further information can be found on the budget website: http://www.gov.im/budget/ Source: IOM Gov 15 Feb 2011 http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=9 Mon, 14 Feb 2011 00:00:00 GMT The recently launched KHG Funds offers investors a range of opportunities to suit a wide range of investor objectives and risk appetite. With the successful launch of the Diversified Income, Balanced and New World Opportunities Funds already in place, the latest fund, the KHG Private Equity Fund, is set to launch in February. The KHG Private Equity Fund is the most intriguing and unique fund within the range and provides clients with the opportunity to invest in a portfolio of successful private companies within the simplicity of a locally managed and regulated fund structure. The Fund is targeting a return which aims to double a client's investment over a 5 year period. Local Investment Managers, Creechurch Capital, have been appointed as Investment Manager of the KHG Fund range. Creechurch Capital is the independent investment business based in the Isle of Man, and since its launch has maintained its stated objective of delivering fresh and attractive solutions to the market, through a combination of internal innovation and working with market leading external partners. John Greenwood, Chief Executive of Creechurch Capital commented, "With a minimum investment of just £10,000, the KHG Private Equity Fund offers investors access to an alternative asset class which has traditionally been the exclusive domain of large institutions and ultra-high net worth individuals. Whilst the vast majority of Private Equity funds are closed-ended structures typically over a period of 7 years, the KHG Private Equity Fund provides greater flexibility through its open-ended structure." The investment objective of the KHG Private Equity Fund is to provide medium-term capital appreciation primarily through acquiring significant majority stakes in mature, well-managed businesses which consistently generate profits and positive cashflows. Many investment analysts are tipping private equity as a key investment sector for 2011. In a recent market commentary from JP Morgan they suggest that the key pillars of the market will be supportive of private equity in the current year and beyond. Creechurch Capital has appointed investment experts Aston Ventures as the Fund's Investment Adviser. Established in the late 1990s, Aston Ventures has a successful track record of acquiring and managing old-economy manufacturing and engineering businesses across a variety of sectors such as nuclear, telecommunications, infrastructure, food and confectionary. Tim Eve, Partner of Aston Ventures commented, "We have been working over the past year to develop a strong pipeline of acquisition opportunities for the Fund which can be structured at attractive entry prices at a time in the macro-economic cycle that could deliver investors with strong medium-term upside as trading conditions improve. We have concentrated our focus on high-quality businesses with strong profitability and cash generation. We believe these companies to be attractive acquisition opportunities as a result of their longevity, strong management, niche market position, historical track-record of success and future growth prospects. Our acquisition structures will be equity-led ensuring that there is no undue leverage placed upon portfolio companies. Post-acquisition, the team at Aston Ventures takes an active management role within its portfolio of businesses, working alongside the incumbent management teams for on-going success." John Greenwood concluded, "Through Aston Ventures' dynamic investment approach of targeting profitable, well-established business and the use of equity-led structures, the Fund is well-positioned to generate enhanced returns for clients investments and pension funds." For further information onhow to invest into theKHG Private Equity Fund contact MBL Financial on 01624 672233. KHG Private Equity Fund Highlights Aiming to double a client's investment over a 5 year period. Isle of Man Regulated, open-ended fund structure so that investors can benefit from quarterly dealing dates, as opposed to typical Private Equity funds which are 7-year closed ended structures. Low investor entry level of just £10,000 making Private Equity an accessible asset class for the majority of clients, whereas historically it has been the domain of the super-rich and large institutions. Utilising investment services of Aston Ventures who have a proven track record within the profession Seeking low risk opportunities in a traditionally high risk sector. Fund will acquire significant majority stakes in well-established and profitable businesses. Returns are not dependant on selling portfolio companies - returns will be generated from the profitability of the underlying assets and the ability to pay coupon/premium, surplus cash redemptions by way of dividend and capital redemption premiums. Acquisition structures will be equity-led. Maximum borrowing within a portfolio company will be 33% providing comfort to investors, company vendors and banks. Market conditions are currently favourable for acquiring high-quality businesses. Business owners are looking to exit following the pains caused by the credit crunch. This is a unitised fund and prices can go down as well as up. http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=8 Wed, 2 Feb 2011 00:00:00 GMT We have followed up the appointment of David Wilkinson as our CEO by appointing two highly experienced Consultants. Paul Cubbon has recently joined the team from Barclays Wealth where he worked with a global client base within the investment team. Prior to his role within Barclays, Paul worked for the Pearl Insurance Company for a number of years and more latterly ran his own IFA business. Paul has over 20 years experience within the financial services industry. Paul says "I am looking forward to the challenge of working in a forward thinking organisation where I have the opportunity to use my skills and experience to benefit wholly and exclusively the client relationship within a fully independent role". The most recent appointment to the team is Andy Nicholson who joins us from Fairbairn Private Bank. Andy has been in the financial services industry since 1988 and has gained a wealth of experience of insurance and pensions within the banking arena both onshore and offshore, in addition to the banking experience. Andy was also Managing Director of Deanwood Financial Services until 2004 and Alexander Forbes until 2008. Andy commented "I am delighted to have the opportunity to joint MBL at such an exciting time for the company and I look forward to being part of its future success". Both Paul and Andy are Isle of Man born and educated. Both are married and each have three children. They are both well known within the local sporting circles. Paul was a top ranked athlete representing the Island at both schoolboy and at a senior level to a high standard. These days his time is taken up looking after his young family. Andy is a former international cyclist having represented the Isle of Man at three Commonwealth Games in 1982, 1986 and 1990. He is now more likely to be spotted on the golf course at Mount Murray where he is Vice Captain for 2011. Our CEO David Wilkinson added: "I am delighted to welcome Paul and Andy to the team, I believe it clearly demonstrates our ambition to attract high calibre advisers to the mbl team to complement our existing team, http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=7 Fri, 21 Jan 2011 00:00:00 GMT Our newly appointed CEO says he aims to make us 'the Island's biggest and best Independent Financial Advisory firm'. David Wilkinson took up his new role in early January and leads the team of 20 staff at the company's prestigious offices in Finch Road, Douglas. Following the merger of two well established Manx firms MBL Financial Services and CFS Financial Consultants. As the company prepares to celebrate its 25 th anniversary, David Wilkinson says: "I see this as a tremendous opportunity to develop and take forward MBL Financial using the firm foundations which have already been built. We already assist more than 5,000 clients with their financial needs, and there is tremendous potential to expand the business further." David Wilkinson has 29 years experience in banking and finance and moved to the Isle of Man in 1991 when he was appointed Manager of one of the first building societies on the Island. Immediately prior to joining MBL Financial he was Director of Intermediary Distribution at Standard Bank and his career also includes senior management roles with HBOS and Isle of Man Bank. Last year MBL Financial became the first Isle of Man firm to be accepted as a member of FEIFA, the Federation of European Independent Financial Advisors. FEIFA is a trade association that existsfor the benefit ofconsumers and its members which are IFAs. It provides a strong voice for the IFA community across Europe and, says David Wilkinson, "FEIFA provides a respected, independent, endorsement of selected IFAs. Membership of FEIFA is not available to all IFA companies, only members that are able to comply with a rigorous vetting and due diligence procedure are allowed to join." We are currently looking to recruit two more senior staff in the next few weeks and there are plans to make more appointments in the coming months. MBL Financial has recently joined forces with Cowley Groves Financial Services and is working closely with them to assist their clients. David Wilkinson is a keen golfer and a member of Mount Murray Golf Club. He is married and has two children. http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=6 Tue, 23 Nov 2010 00:00:00 GMT MBL Financial has teamed up with Boal & Co to create a new pension plan which is exclusively for Island residents and designed to meet their specific needs. The Prestige Personal Pension is exclusive to MBL Financial and offers access to a wide range of investments as well as annuity and pension income. Matt Evans, Joint Managing Director of MBL Financial, says the Prestige Personal Pension will provide a sensible solution for many Island residents. He said: "This pension plan bridges the gap between an inflexible traditional insurance company pension and Self Invested Personal Pension (SIPP). The Prestige Personal Pension meets the demands of Island residents by offering all the features and benefits that one would expect, such as a wide range of funds, access to bank deposit accounts and stocks and shares. It is suitable for individual and company pensions and can either be funded by personal contributions or payments from an employer. Company schemes can be set up with as little as one member." The plan is designed so that it can meet the needs of pension funds of all sizes and contributions can be made from as little as £50 per month. Also, due to the flexible nature of Prestige and its charging structure, no one is too young or too old to start a Prestige pension. This plan can also be used to contract out of the State Second Pension (formerly known as SERPS) and to receive Protected Rights transfers from any other scheme which may have been used in the past to contract out. Mark Kiernan, Director of Boal & Co, said: "We are delighted to be working with one of the Island's most respected financial advisers in this regard. Since the withdrawal of the last UK insurer from the Island's pensions market, Boal & Co has worked hard to design and create modern Isle of Man pension solutions, in partnership with premier local advisers." Boal & Co is licensed and regulated by the Insurance and Pensions Authority and MBL Financial is licensed and regulated by the Isle of Man Financial Supervision Commission http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=5 Mon, 25 Oct 2010 00:00:00 +0100 Frank Stennett CEO IOM FA commented The Isle of Man Football Association would like to place on record our sincere thanks to MBL Financial for their sponsorship of Women's Football for the 2010 - 2011 season. Women's football has developed tremendously in recent years on the Island and the support provided by MBL will allow this progression to continue. The sponsorship will allow us to continue with the women's league, the Astro Cup and also the national representative side. I am sure many of our ladies will be delighted that we can look forward to further progressing the game here on the Isle of Man with this invaluable support. Also the Women's senior representative team can all look ahead now to start planning ahead for the future. Simon Pickering (Joint managing Director) of MBL Financial commented….We are delighted to provide sponsorship support to Women's Football on the Isle of Man for the forthcoming season. My co-director Matt Evans and I are still active in local football in refereeing and coaching roles, and welcome this opportunity for our new company MBL Financial to put something back into the sport we have gained so much enjoyment from. We look forward to working closely with the IOMFA during the league and cup season and also in supporting the Womens' National Squad in the build up to next years Island Games in the Isle of Wight. Anna Dillon also commented - Speaking on behalf of Ladies football we are overwhelmed by the generosity and support that MBL have provided, with this we hope that ladies football will continue to prosper. A new younger generation of players are coming through into the senior teams - ladies football has never been stronger, we can now look forward with optimism to next June's Island games and hope to better our bronze medal from 2009. http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=4 Fri, 15 Oct 2010 00:00:00 +0100 Over 90 guests including corporate and private clients attended the launch party of MBL Financial, the new name for Morris Brokers Limited (MBL) and CFS Financial Consultants Ltd (CFS). Hosted at a private marquee within the grounds of our new offices at 20 Finch Road, Douglas, guests were treated to canapés and drinks served by local professional caterers and were entertained by a four piece Jazz band. MBL Financial staff were also on hand to meet and greet clients of MBL & CFS and introduce the new team. Joint Managing Director Simon Pickering commented on the evening 'it is great to see clients of both companies and introduce them to MBL Financial'. Guests were also given a tour of the new office and praised the quality of the refurbished office and meeting rooms. http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=2 Mon, 4 Oct 2010 00:00:00 +0100 Gross inflows into stocks and shares Isas have averaged over £400m a month since the Isa allowance was raised to £10,200 for over-50s in October last year, figures from the Investment Management Association (IMA) show. Between October 2009 and August 2010 net Isa sales totalled £4.66 billion. According to IMA research, this number would be greater if the allowance were raised even more. Net sales of Isas in October 2009 were the highest for any month since the savings accounts were introduced in 1999. In April, when the increased allowance was extended to the under-50s, net sales were at their highest since 2001. The research follows last week's warning that the government may consider reducing tax incentives on Isas in its comprehensive spending review later this month. Andy Love, a member of the Treas­ury select committee, said last week that the coalition government may target Isas as part of its package of cuts. Speaking at a fringe event during the Labour party conference, Love said: "We have seen the coalition cancel Child Trust Funds (CTFs) and the Savings Gateway, which were two of the primary incentives that were offered under the previous government. "There is also a debate over Isas, and while the coalition is saying they are supportive of Isa structures, there have been a lot of rumours that [Isas] may be subject to the spending review." Responding to Love, the Treasury pointed to its June 2010 budget, which stated that it will index link the annual Isa subscription limit from 2011-12. According to the IMA research, based on a survey of 2,100 investors, 36% said they would invest more if long-term savings remained consistent and 47% said they would invest more if the limit was raised. Meanwhile, 44% said they would put more money in Isas if there was a lifetime tax-free allowance. After its decision to scrap CTFs, it is understood the Treasury is consulting over plans to launch "junior Isas" for children. These would allow tax-free investment in cash or stocks and shares up to an annual limit. The Isa investments would be owned by the child but locked in until the child reached 18. Unlike CTFs, however, there would be no government contribution payments. Source: fundstrategy.co.uk - 4 October 2010 http://www.mbl.co.im/cgi-bin/mbl.cgi?Command=ShowNewsEPage&db_epid=1 Wed, 22 Sep 2010 00:00:00 +0100 A new business, MBL Financial, has been formed by the merger of Douglas-based firms MBL Financial Services and CFS Financial Consultants. Staff from both merged businesses have now moved to prestigious new premises at 20 Finch Road in Douglas. Derek Morris, Chairman of MBL Financial, says clients will continue to experience the same high levels of service they have become accustomed to, and from the same experienced personnel. He added that the merger opens up opportunities to expand the business. Morris said: "We have excellent new offices in Finch Road, but behind the scenes we have the same personnel who are trusted by clients of MBL and CFS. Clients can be assured of the same level of service but with the added benefits offered by the merger." Matt Evans and Simon Pickering joined the new company from CFS Financial Consultants and are now Joint Managing Directors of MBL Financial. Evans said: "The merger makes MBL Financial one of the largest IFAs in the Isle of Man and we are now in a strong position to pursue opportunities to develop the business in the months and years ahead." MBL Financial Services was based in Falcon House, Ridgeway Street, Douglas, and CFS Financial Consultants had offices in Athol Street, Douglas, and Parliament Street, Ramsey. The company will retain its Ramsey office to service its clients in the north of the Island.