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Barclays’ challenge to IFAs is laughable

Thank you, Money Marketing, I never imagined that your paper would ever give me a good belly laugh but the headline in your June 14 edition certainly did.

So Barclays think they are going to take business away from IFAs? Excuse me while I wipe away my tears of mirth.

Hardly a day goes past that banks are not castigated in the national press and on exactly the same day as you published Barclays’ plan, the headline in my daily paper was, Banks are accused of overdraft fee racket.

I don’t think that IFAs have much to fear from banks as long as we have the press writing these sort of headlines.

I have yet, in my rather extensive experience (as customer in both industry and financial services and as a professional adviser), to come across anyone who has a good word to say about a high-street bank. I am sure there is always a first time but I am still waiting.

I have already seen financial planning efforts that Barclays has produced and am not impressed. It was nicely bound, though.

The most amazing thing for me is how employees and executives of these big organisations can be so out of touch with reality. If this is the only thing that IFAs have to worry about, I do not think they will be needing sleeping pills.

Harry Katz
Norwest Consultants


Floggers will not find a safe haven with banks

I agree with Brett Davidson of FP Advance that IFAs at the product-flogging end of the market who are unwilling to move to a fee basis will, sooner or later, be forced out of their present positions. As in so many other walks of life, the climate in financial services is changing and in certain […]

Henderson Row teaches dogs new tricks

Investment manager Henderson Rowe has teamed up with Way Fund Managers to launch the dogs of the FTSE 100 fund, which invests in the 15 highest yielding stocks on the FTSE 100 index.

Invesco looks to beat S&P 500

Invesco Perpetual is introducing a US equity benchmark plus fund which aims to beat the S&P 500 index by 2.5 per cent over a full market cycle.The fund, due for launch on July 9, will be managed by the global structured products team using a quantitative investment model which adopts a 4 per cent tracking […]

Harrison slams system structure

David Harrison has launched platform True Potential with a damning indictment of industry inefficiencies for leaving advisers reliant on big commission because current structures do not support thousands of small transactions.He also claims that wrap is making things worse and says his system offers the best route to profitability.TP will offer fact-finds, two-way tracking, real-time […]

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Johnson Fleming set to host webinar on auditing auto-enrolment schemes

With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.


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