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1st – The Exchange says IFAs must take “ruthless” approach

1st – The Exchange says now is the time for IFA firms to adopt a “ruthless” approach to help them identify profitable clients going forward.

In its white paper, Future Distribution, the web portal says adviser firms now need to commit extensive time and research to determine the most appropriate and cost-efficient distribution channels necessary to move their business forward.

The paper also encourages advisers to recognise that a “ruthless approach may also be necessary, with some client segments possibly having to be ‘farmed-out’ or dropped altogether”.

The paper says: “For those client groups which do not appear to offer any profitable longer term revenue, it will also be necessary to consider the disposal options – selling, pushing or perhaps leaving this group to natural attrition – if the costs of this are not prohibitive given shorter-term servicing needs.”

According to the paper, 75.2 per cent of advisers expect face to face advice to continue by 2012, while 20 per cent foresee a multi-channel distribution strategy.

Over 51 per cent expect business to be focusing on high net worth individuals by 2012, with 41 per cent will be focusing on a multi-strategy by that time.

The report also highlights the potential to include mortgage-related insurances, general insurance and protection products within the new RDR proposals.
It said: “Many industry commentators would suggest, perhaps wisely, that it would be foolish to believe that longer term, these channels will escaped unscathed.”


No fee for active Sipp clients

Hargreave Hale is offering a Sipp with no annual charge for active investors. Investors must generate over £250 commission a year to be eligible for the product. Pension admin will be outsourced to Dunstan Thomas.

Pension savings-2015

Pension tax relief: parked (for the moment)

The national news agenda has been dominated by pension issues this month. For those that missed it (and there cannot have been many given that this was the lead story in spoken and written media), the Chancellor announced a decision to make no decision on pension tax relief in his 16 March 2016 Budget speech. To […]


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