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&#39Isa failure spells end of pricey mailshots&#39

The failure of this year&#39s Isa season will force fund firms to scrap expensive mailshots in favour of simple, point-of-sale marketing aids, says Credit Suisse Asset Management.

Writing in this week&#39s Money Marketing, managing director Ian Chimes says fund managers must take drastic action to change the way they market funds to IFAs and their clients as mailshots are likely to become an onerous cost.

Predicting the death of the year-end rush for Isas, Chimes says mailing lists, which failed to generate new business this year, will be replaced by straightforward point-of-sale marketing aids, making the case for long-term equity investment.

He says this will mean Isas are sold month in month out through the year as tax planning solutions. To reach this point, however, Chimes says fund groups must collectively decide not to mail investors who have no long-term belief in Isas.

He says: “The mailing lists that should have provided future new business are likely to become a very onerous cost if drastic action is not taken. The future will be different from the past. We are back to face-to-face advice.”

Artemis product development & communications director Nick Wells says: “IFAs tell us that investors have simply departed the planet. They are only prepared to enter the market on the basis of point-of-sale material, not mailshots.”


DBS MD Pearson to head Misys mega firm

Misys has appointed DBS managing director Steven Pearson to head its new combined mega network of 4,000 member firms. Pearson, who was also previously managing director of Financial Options, will take control as MD of the mega network group created by collapsing all five of its existing IFA networks, Countrywide, DBS, Financial Options, IFA Network […]

SFS dropping Inter-Alliance from panel

Lawyers&#39 service provider Solicitors Financial Services is ending its contract with national IFA Inter-Alliance. It is refusing to elaborate on why it is dropping the firm although Inter-Alliance says it is because they failed to reach a deal on fees. SFS acts as an IFA referral services for its 1,000 members, putting them in touch […]

L&H fixes for two years at 3.99%

Leeds & Holbeck Building Society is offering a two-year 3.99 per cent fixed-rate mortgage designed for the intermediary channel. It is available up to 90 per cent loan to value and offers a free valuation.

Opra offers guides for new pension scheme trustees

The Occupational Pensions Regulatory Authority is launching a nw range of leaflets that give scheme trustees information about their duties. The leaflets are designed as a starting point for trustees who need to learn their obligations under the Pensions Act 1995. Opra also has more detailed guidance publications to extend trustees&#39 knowledge. The leaflets give […]


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