View more on these topics

Another approach to renewals

I read with interest the comments by Gareth Fatchett regarding renewal

commission being withheld by networks.

An alternative approach I have is in fact to do entirely the opposite. On

joining, I ask each member to complete a form of nomination so that in the

event of his premature death I know to whom I should continue to pass

renewal commission. Equally, that nominated person would be asked the same

question at that time so the renewal stream continues.

I am not giving anything away – renewal commission is a servicing

commission and not related to advice. It is only from the latter that I

expect my network to earn its income stream. Perhaps my approach helps to

explain why addit-ionally I take no charge against renewal commission

anyway during membership for exactly the same reason.

Ian McIver

The Whitechurch Network



Misys buys US business systems firm

Misys continues its programme of expansion with its £288m acquisitionof US healthcare business systems provider Sunquest in a deal that placesits purchase of DBS last week firmly in perspec-tive. Misys also closeddown its Screentrade and fledgling TheFormula consumer retail operations,ending the company&#39s retail ambitions, while its IFA Services arm launchedan interactive online mortgage service for […]

SocGen Looks to corporate bonds

SOCGEN ASSET MANAGEMENTCorporate Bond FundType: Unit trust.Aim: Income by investing in corporate bonds.Minimum investment: Lump sum £1,000, monthly £50.Investment split: High-grade sterling-denominated corporate bonds 80 per cent, fund manager&#39s discretion 20 per cent.Yield: 5.5 per cent.Isa link: Yes.Pep transfers: Yes.Charges: Initial 3.5 per cent, annual 1.25 per cent.Commission: Initial 3 per cent, renewal 0.5 per […]

Lending hits all-time high

Mortgage lending surged to an all-time high in May, with lending up 0.8 per cent to £4.23bn from £3.82bn in April, suggesting a renewal of confidence in the housing market.Lenders saw the number of loans approved increase to 107,000 in May, up 9 per cent on the average of 98,000 in the three months to […]

FSA warns IFAs on pension review

The FSA is warning that it will look closely at firms that fall behind in settling personal pension review cases.The warning comes as the FSA says evidence shows progress is slowing down in some firms, although half of the phase two cases have now been settled and £2.7bn paid in redress.FSA director of the pensions […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm