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Aifa and IFP want risk link

Aifa and the Institute of Financial Planning have called on the FSA to link regulatory fees to risk as the two bodies hit out at plans to base fees on firms’ income.

Aifa director general Stephen Gay says: “Income-based fees can run the risk of decreasing efficiency and productivity in the profession, punishing firms that have built successful, profitable businesses with higher than average ratios of income per adviser.”

He argues many successful firms have invested more in compliance and research, meaning they pose less regulatory risk. He says: “Aifa has consistently called for a fee regime based on a risk-based approach. This must be the overriding principle of the FSA’s approach.”

IFP chief executive Nick Cann says: “Surely, the new regime gives the regulator the opportunity to think a little more creatively about what it is creating and to consider other factors like risk as well as the shape of the business. At face value, it seems a decision has been taken to penalise successful businesses.”


Life in the cycle lane

Economic forecasters, by and large, have pretty poor track records but some have been more reliable than others. The Economic Cycle Research Institute enjoys one of the more solid records in forecasting cyclical turning points. According to its co-founder, Lakshman Achuthan, its set of leading indicators submits “overwhelming evidence” that the US economy is tipping […]

Bramdean confirms D2C platform launch

Bramdean Asset Management chief executive Nicola Horlick has confirmed plans to launch a direct-to-consumer platform called Bees and Honey. The new platform, revealed by Money Marketing in September, is due to launch by the middle of next year. Horlick says: “The FSA has undertaken a major review of the way that investment funds are sold […]

Boosting our annuity strategies

Targeting annuity purchase in lifestyle strategies isn’t anything new but we’ve just lifted the bonnet and injected an enhancement shot into the end-point of these solutions. The recent volatility has shot short-term volatility into equity markets and painted a very turbulent backdrop but we’re also equally faced with a stressed fixed interest environment. This can […]


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