View more on these topics

Aviva calls for re-reg ahead of RDR

Chief executive of Aviva UK Mark Hodges is calling on platforms to introduce a standard industry-wide approach to re-registration before the Retail Distribution Review is implemented.

Hodges is writing to chief executives of platform providers arguing the re-registration of assets on and off platforms without incurring a tax liability should be made compulsory well ahead of the RDR deadline in 2012.

In his letter Hodges says: “We believe that the ability to re-register assets on and off platforms should be made compulsory. We also believe that this should be mandated as soon as possible, well before the implementation of the RDR.

“We believe that where re-registration off platform is not made available, this should be disclosed to customers at point of sale – and should form part of the Financial Services Authority review of platform disclosure.

“Aviva is also supporting the Tisa-sponsored industry working group in order to create an automated solution to re-registration. As platform operators, we believe it is crucial that we are seen to be working together to remove barriers to platform use for both consumers and advisers.”

Aviva intermediary and partnerships director Angela Seymour-Jackson says: “Why wait until RDR to have a standard approach to re-registration? Platforms should be acting now to make sure the re-registration is simple for investors and advisers.”

The FSA said in March that it was “minded to make it compulsory” for platforms to ensure that assets can be re-registered by the RDR deadline.



Maguire hits back over blame for cru debacle

Cru founder Jon Maguire says people who blame him for the Arch cru fund debacle are ignorant of the facts. Maguire (pictured), who has joined Voila Asset Marketing as investment development and marketing director, says he understands why the issue has been centred on him but advisers should focus on the roles played by Arch, […]

Call for global solution to alternative directive

Members of the European Parliament continue to disagree over the alternative investment fund managers directive, with UK MEPs fighting against “protectionist” regulation that they say will harm the City. Debating the directive at a press briefing in Brussels last week, MEPs clashed over the direction of the directive. Key sticking point in negotiations is the […]

Life assurance protection gap hits £2.4trn

Swiss Re has calculated that the life assurance protection gap has increased for the first time since 2004 to reach £2.4 trillion. The reinsurer has published its latest annual Term & Health Watch report which builds a picture of the level of new individual protection business written in 2009. Swiss Re says that the life […]


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