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&#39Focus on planning and delegate fund selection&#39

Independent insurance analyst Ned Cazalet believes the time has never been better for giving independent advice.

In his Life 2003 report, Cazalet says an increasingly older and wealthier population means that, despite difficulties such as increasing regulatory costs and falling commission levels, there are great opportunities for IFAs.

However, he says many IFAs have been product pushers and are lacking the technical skills and resources to deal with an environment focused on wealth preservation and pure investment advice. He says the average small IFA is too overloaded by heavy regulation to re-equip and reinvent himself to take advantage of the “forecast massive demand for private wealth counselling”.

Cazalet says: “The logical solution with regard to investment business would seem to be for many IFAs to focus on acting as financial planning specialists and helping to determine their clients&#39 asset allocation strategies. Creation of investment portfolios, including manager selection, should be delegated to an appropriately qualified competent third party having the resources to select managers and monitor them closely on a day-to-day basis.”


It shouldn&#39t happen to a vet

Two old acquaintances from the public service were reunited at this year&#39s Aifa dinner – FSA chairman Callum McCarthy and Aifa director general Paul Smee. After McCarthy&#39s keynote address, reassuring IFAs that the regulator is here to help, Smee felt the need to complete some unfinished business. Smee told McCarthy: “When you were secretary to […]

Free test is offered to IFAs for Funds Library

Hargreaves Lansdown is offering 600 IFAs and stockbrokers six months&#39 free subscription to Funds Library, its online index of mutual funds. The online database, set for launch in the second quarter of 2004, has secured the support of 20 fund firms and covers over 410 retail funds. HL is presently embarking on a full technological […]

CML urges Government to intervene positively in housing market

At the Council of Mortgage Lenders&#39 annual conference yesterday director general Michael Coogan said the Government should resist the temptation to intervene in the housing market unless intervention would result in lower costs, major efficiency gains, practical market improvements, or an increase in sustainable home-ownership. He said: “It must be tempting for any Government to […]

BSA chief says industry will rue &#39unnecessary&#39 regulation

Building Societies&#39 Association chairman and Skipton chief executive John Goodfellow has hit out at the FSA over mortgage regulation, saying it is totally unnecessary and will be regretted by the industry. Speaking at the CML&#39s annual conference on Tuesday with FSA chief executive John Tiner and chief financial ombudsman Walter Merricks, Goodfellow told delegates the […]


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