View more on these topics

&#39Fund merry-go-round is damaging the industry&#39

Edinburgh Fund Managers managing director Harry Morgan says the constant merry-go-round of fund managers is bringing the industry into disrepute.

Speaking at the Money Marketing IFA UK conference in London last week, Morgan said the endless procession of star fund managers moving from one company to another is harming clients and leaving them confused about what to do with their investments.

His comments come as Lazard UK smaller companies manager Richard Smith has left to join Invesco Perpetual&#39s UK team.

Morgan said although many star managers deliver decent returns, there is a risk of investors becoming too dependent on them as there is no guarantee they will manage a fund for long.

His comments are welcomed by IFAs, who say clients are becoming angry about being left in the lurch by managers chasing lucrative deals.

Morgan says: “When managers go on gardening leave, what are their clients supposed to do? There is a risk of becoming too dependent on star names and this manager merry-go-round is bringing the industry into disrepute.”

Hargreaves Lansdown head of research Mark Dampier says: “There is a lot of greed involved. It is more like a City culture. Investors do not want to have to monitor their situation constantly. It is very unhelpful to the industry.”

Comment, p37


Verso puts advisers on rate-rise alert

Specialist lender Verso is urging mortgage intermediaries to be ready for an increasing number of queries from clients following indications that the Bank of England is set to raise interest rates.Last week, the bank&#39s quarterly inflation report raised its projections for growth and inflation, with deputy governor Mervyn King saying the monetary policy committee “stands […]

T&G enters Sipp market

Teather & Greenwood Investment Management has entered the self-invested personal pensions (Sipp) market with the introduction of the TGIM Sipp.The company has gained experience within this market by acting as an investment manager for the Sipps of other providers. It felt the time was right to go one step further by offering its own product, […]

Dennehy Weller names “dud” investments

IFA Dennehy Weller has produced its six monthly “duds” list of funds it says are failing investors. The analysis covers funds of £500 million held in UK all company and equity income sectors where the majority of private investor money is placed. Top of its table as the biggest “dud” is Aberdeen&#39s UK Blue Chip […]

Whistleblow while you work

Imagine a few scenarios. Perhaps your boss has instructed one of your colleagues to transact business which he knows that the individual is not approved to do by the FSA. Perhaps your boss has been sexually harassing a client or colleague or taking clients without authorisation. What do you do? Keep you head down? Think […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm