View more on these topics

Bates in multi-manager deal with Aim

Bates Investment Services has appointed Axa Investment Managers as its preferred multi-manager provider in a move that the IFA hopes will protect clients against high manager turnover.

Bates, which last week sold a 33 per cent stake of its business to investor consortium Asset Strategies, will start selling Aim&#39s range of manager of manager funds through Isas, Pep transfers, pension and bond wrappers from next month.

The deal is not exclusive to either party – the IFA can use other manager of manager providers – but means that Bates will refer the bulk of its clients to Aim, which it believes offers a cheaper alternative to most fund of funds providers.

The agreement comes days after the industry was hit by more fund manager moves, with HSBC losing five of its top fund managers to Cazenove.

Bates head of research James Dalby says: “For a core holding for most clients, manager of manager funds are ideal given the number of moves, which have got beyond a joke. Manager of manager is also cheaper than fund of funds, which is a real bonus in the current marketplace.”

Aim director (head of retail) Patrick Cooper says: “We are excited to be working with such a well regarded IFA and we look forward to providing them with our product and service.”

Recommended

Tillinghast targets IFAs with risk projection service on net

Management and actuarial consultancy Tillinghast has set up an online investment risk projection tool for IFAs.The eValue system uses a technique called stochastic asset modelling, which help investors to understand the total risk profile of a portfolio of investments carrying different levels of risk.The process highlights the likelihood of investors achieving their financial goals and […]

FSA director quits after five months

FSA director insurance firms David Gittings is quitting his job after only five months to join the board of Wellington Underwriting. The FSA stresses there was no acrimony or dispute over policy despite the short notice period – Gittings is set to leave the regulator and take up his new job next Monday on September […]

Sean Ewing

If it had not been for Sean Ewing&#39s standing as a local golf hero in Londonderry in the mid-1980s he may never have secured the bank loan necessary to buy his first financial services business and launch his career.Having played senior amateur level golf for a decade up to 1986, Ewing found the local bank […]

Manor Park offers protection scale

Guaranteed investment specialist Manor Park has established a guaranteed growth bond that is linked to the performance of the FTSE 100 index for five years.The Manor Park guaranteed UK capital growth fund allows investors to choose the level of capital protection they want between 110 per cent and 85 per cent. The lower the level […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com