View more on these topics

Bankhall rings the insurance changes

Bankhall is urging its members to consider diversify into general insurance. It argues that the arbitrary divide created by the fact that the IFAs were regulated and general brokers were not has ended.

It believes that, as a business, it can take advantage of this and that its members can too. Bankhall adds that hundreds of its members never stopped being composite brokers and a model that many thought had had its day never really went away

It hopes that more members form partnerships, formally merge or hire in general expertise. It says there is client demand, an ability to meet all their needs in one place. It will also guard intermediaries against downturns in any one part of the market.

Sales director Shaun Godfrey also suggests that, out of the IFA groupings, only Bankhall & Sesame have the scale to deliver the support for such businesses, echoing previous remarks about multi-ties.

Certainly, the idea is interesting and may appeal to some IFAs if their owners and managers can afford the time to examine it.

Where intermediaries lead, it is likely that product providers will follow.

Recommended

IFAs being deluged with marketing material

IFAs says they are being are deluged by indiscriminate marketing from fund management companies. BestInvest business development manager Justin Modray claimed that he often gets 10 to 15 identical copies of the same factsheet. Technology and Tech-nical founder Kim North questioned whether enough research has been done into how IFAs want to receive marketing information. […]

IFAs wait to see the block buster show

With combined sales of UBS’s absolute return bond fund, and DWS’s Ratebuster product topping 90m in their offer periods, the industry has been reflecting on whether these apparently safe products can deliver on their promises.

IFAs won’t be hit by client money rules

IFAs will not be deemed to be holding client money when they rebate commission under a menu fee arrangement, the FSA has confirmed. Aifa director general David Severn raised concerns that the menu system could lead to IFAs effectively holding client money when they get commission from providers under fee arr-angements. This would place them […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment