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AWD Chase de Vere looks to escape CSAM FoFs range

IFA firm AWD Chase De Vere is considering whether to recommend clients to other fund of funds managers following the latest tranche of departures on the Credit Suisse multi-manager range.

Kelly Prior, Paul Green and Anthony Willis all tendered their resignations to the firm this morning, with the trio believed to be following former CSAM multi-manager co-heads Rob Burdett and Gary Potter to Thames River Capital.

“In view of the recent loss of Bill Mott and the experienced multi-managers Rob Burdett and Gary Potter, the latest departures and underwhelming appointments news from Credit Suisse really is the final straw. We have no option but to seriously consider recommending that our clients move to alternative fund of funds,” says AWD Chase De Vere research manager Justine Fearns.

“We have commenced discussions with a number of alternative providers. It’s unlikely that all the money would be moved to just one provider – the Credit Suisse FoF’s are varied and in order to try and minimise disruption to our clients portfolios in terms of risk, we may recommend different providers for different portfolios”.


FSA lays out next moves on TCF deadline

The FSA will consider the case for enforcement action for all firms failing to meet its March TCF deadline proceeding with referrals on the basis of alleged consumer detriment.Speaking at a Freshfields Bruckhaus Deringer TCF Seminar, FSA director of retail firms division Sarah Wilson said enforcement action would not automatically follow the failure to meet […]

Balls publishes consultation on unclaimed assets

Treasury economic secretary Ed Balls has today launched a consultation document on proposals to introduce an unclaimed assets scheme in the UK.The aim is to allow money in dormant bank and building society accounts to be reinvested in society, without taking away consumers’ rights to reclaim their money. The government has been working with the […]

Converting pension savings to a retirement income…

Since last year’s reforms to pension legislation, a significant number of retirees have chosen income drawdown over purchasing an annuity. Income drawdown is more flexible than an annuity. However, it also increases the likelihood that individuals won’t be able to maintain their income throughout their lifetime. In this short video, we explain the risks that […]


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