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

National IFA Millfield says Sandler&#39s consultation period of two months is too short to be able to cover all the issues under its remit.

The company says no one seems to be clear about Sandler&#39s scope as the term “medium to long-term savings” does not have a clear start and end point.

Millfield believes the shock to the economy caused by the terrorism attacks in the US last month may refocus the review and its initial comments on with-profits.

It says the review may have knocked with-profits a few months ago but in the current economic climate a unitised with-profits fund is one of the safest options.

It says the view that IFAs lack investment knowledge is too much of a sweeping statement as this varies between individuals, even within one firm.

Millfield claims that the IT systems now available for portfolio analysis and access to historical information enables advisers to make recommendations to satisfy the majority of clients.

The company believes the FSA and Sandler review must work together and may end up becoming one as the Treasury is the key decision maker on both.

Chief executive Paul Tebbutt says: “It is a massive generalisation to say that independent advisers are not equipped to give investment advice, especially with the research tools available now.”


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Mark of distinction?

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To be and not to be – Multi asset investing with conviction

At Pictet Asset Management we believe active management of asset allocation is the most important generator of returns. What is not to be in our portfolio is just as important as what is to be because good performance is determined as much by the assets you avoid as by those you hold. The FP Pictet Multi Asset Portfolio managers are not wedded to any particular […]


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