View more on these topics

Bestinvest pulls out of new trade body

Bestinvest has pulled out of the Association of Independent Discount Brokers just days after the trade body launched.

Bestinvest, which is the second largest discount broker in the market, originally agreed to join the trade body, which also includes the likes of Chelsea Financial Services, Willis Owen and Financial Discounts Direct.

A Bestinvest spokesperson says: “Bestinvest has decided to postpone its association with the AIDB as we feel that although a very worthwhile enterprise, the timing is not right for us at this moment. However, we remain certain that the AIDB will have a positive impact on the industry in the future and will remain supportive of the organisation and its aims.”

As revealed in this week’s Money Marketing, the AIDB has been launched on the back of the retail distribution review after numerous firms’ in the non-advised sales sector highlighted concerns that despite representing approximately 20 per cent of all fund sales they may have been overlooked by the FSA.

Hargreaves Lansdown has chosen not to take part in the trade body on the grounds that it is already a part of the UK Platform Group, with the majority of its business going through Vantage.

AIDB acting chairman Darius McDermott says: “We are obviously disappointed that Bestinvest have decided to relinquish their membership to the AIDB, but it does not change the course of the body, nor its aims. Our existing members remain fully behind the AIDB and look forward to working together to increase awareness of non-advisory sales concerns.”


Simon Massey

Scottish Widows intermediaries director Simon Massey has just returned from a holiday sailing around Ibiza but he insists the voyage was not a façade for all-night rave parties and is rolling up his sleeves for what he says is the biggest challenge the firm has faced.

Noise abatement

Freshly crowned as one of the UK’s biggest asset managers, Aberdeen might seem an odd choice for a column on boutiques.

In Focus image

In Focus — May 2015: private medical insurance market in Germany

Welcome to the latest edition of In Focus. In this issue, Jelf examines the private medical insurance market for employers with expatriate workforces in Germany. This includes the common challenges faced in sourcing appropriate coverage, along with a selection of available solutions. This will be of particular interest to HR/reward decision makers with employees based in Germany. It will assess the cultural norms, risks and backdrop that are relevant to organisations with expatriate staff in this location.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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