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Amex unites advice and online trading

American Express is incorporating its independent financial advice arm with its fund supermarket and sharetrading platform Sharepeople, making it one of the first platforms to bring together advice and online trading.

Amex has 10 IFAs available to Sharepeople customers over the phone. The firm is believed to be looking to expand its IFA business following discussions last year with a number of IFAs including Inter-Alliance.

AMP, which owns IFA Towry Law and fund supermarket Ample, is another provider which is tipped to combine trading and advice services in the near future.

Amex is also adding a new 40-strong best-buy list to its fund supermarket, devised with Standard & Poor&#39s.

The list will be reviewed monthly and will only include funds which have a minimum of three Micropal stars, a minimum Standard & Poor&#39s A rating, and are top quartile over both one and three years.


Cut against the bias

One of the primary arguments made in the FSA&#39s consultation paper 121 which proposes scrapping polarisation is that there is commission bias at work in the IFA sector.It uses this as justification for a radical overhaul of the way that independent advisers are remunerated, which would force IFAs to charge fees and rebate commission.However, the […]

First State fund buys British

First State Investments has established the British mid-cap fund, an Oeic that aims for capital growth by investing in medium-sized companies within the UK.The fund is part of First State&#39s British range, which consists of three other funds, British smaller companies, British all companies and British opportunities.The British mid-cap fund will consist of between 60 […]

Two appointments at Standard Life Healthcare

Standard Life Healthcare has announced two key promotions to its sales and IFA relations team. Iain McMillan has been promoted to become head of sales and marketing from his current position as national sales manager intermediary division. He has been with the provider since 1995 when he joined as intermediary sales consultant for the Scottish […]

More than 50% of borrowers aware of loan code

Over half of new borrowers are aware of the consumer protection which the mortgage code and the FSA are intended to provide, according to new Mortgage Code Compliance Board research.The MCCB questioned 1,000 adults in October last year to gauge what people know about their rights under the code, introduced in 1997, and the role […]


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