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AWD throws down gauntlet to providers on CAR

AWD is introducing customer-agreed remuneration and challenging providers to apply it to in-force policies as well.

The national IFA is also white-labelling Cofunds as its wrap and introducing minimum advice service levels nationally.

Group chief executive Mike Kirsch will warn the FSA it needs to concentrate on ensuring advisers are acting as the client’s agent in its retail distribution review submission. He says this should be the priority rather than exams or capital adequacy increases.

He believes in increasing professional standards but disagrees with distinct professional financial planner and general financial adviser categories.

Kirsch says: “We will be early adopters of the CAR concept within the RDR. We should take the high ground so clients know what services they are getting and how they pay for them in initial and trail payments. This should be explicit.”

He adds: “The company’s drive towards ever increasing levels of ongoing service means ongoing charges need to be fully reflective of the advice and services provided. This means providers and fund management groups need to accommodate this, not only regarding new business but existing business. This is vital with customer agreed-remuneration.”


Broker Talkback

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Stamp duty increases by a quarter on last year

The average amount of money paid in stamp duty has increased by an average of 24.76 per cent, according to online mortgage company says Treasury data indicates the average amount of stamp duty has increased since last year from £2870.65 to £3,581.37. says as stamp duty rises, more people will look to pay […]

Lawrence House emerges from cash shelter

Lawrence House has brought down the cash levels on all its funds to within the normal 2 to 3 per cent range from August highs of almost 10 per cent.The company had allowed cash to build up to 9.8 per cent in the equity income portfolio, 8.5 per cent in its cautious portfolio and 5 […]

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How the ‘what if’ business development tool can aid advisers

Rise of the machines

Head of Sustainable Investing at Royal London Asset Management, Mike Fox, looks at the case for including artificial intelligence within a sustainable investment strategy. Read the article in full here The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not get […]


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