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&#39Sandler must see value of IFAs&#39 – Bankhall

Bankhall support services group emphasises the distinction between independent and tied advice in its response to Sandler and calls on him to recognise the value of IFAs.

Bankhall describes an IFA as a “personal shopper” who resear-ches the whole market on behalf of the client, who recognises the value that this comprehensive service provides them.

The firm contradicts the perceived wisdom of the Government and regulators that consu-mers require more education, saying it is accurate information backed up by effective advice that is needed. Bankhall claims only the most sophisticated investors is able to assess the relevant importance of performance against charges, risk and features of the product wrapper, so this is where the IFA&#39s input is again vital.

It says the need of providers to gain the support of professional advisers for their products before they are presented to the investing public is the single most important factor in promoting competition and good value.

In response to Sand-ler&#39s question about whether branding would increase the volume of direct selling, it warns that this could have the adverse effect of confusing investors.


FSA says split-caps are steering clear of crisis

The FSA has dismissed concerns that the split-cap investment trust industry is on the verge of crisis, saying that only a handful of trusts are even remotely in danger.The regulator, which has been undertaking a review of the sector over the last two weeks, says that of around 115 split-cap trusts, only six are in […]

RSA pursues pension trustees

Royal & SunAlliance UK Life & Pensions has introduced a pension fund trustee plan for trustees of self-invested personal pensions (Sipps), small self-administered schemes (SSAS) and occupational pension schemes. The plan accepts single premiums only and aims to provide a range of investments to trustees that they would only otherwise be able to access through […]

Genesis Home Loans – Planet & Moons Fixed 6.74 Per Cent

Friday, 26 October 2001.Fixed term: Until January 1, 2003.Fixed rate: 6.74 per cent.Minimum loan: £35,000.Maximum loan: Up to 80 per cent of valuation subject to a maximumof £350,000, up to 75 per cent subject to no maximum.Income multiples: 3.5 times principal income plus second or threetimes joint.Arrangement fee: £395.Redemption fee: 6 per cent of original […]

Schroders picks ex-Grenfell chief Dobson as CEO and buys his firm

Schroders has appointed former head of Morgan Grenfell, Michael Dobson as chief executive and is to buy Dobson&#39s hedge fund firm Beaumont Capital Management as part of the deal.Dobson will take over from David Salisbury who quit Schroders after a 68 per cent fall in profits during the first half of this year.Schroders is to […]


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