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Breakaway IFA firm finds new direction

Two Edinburgh-based financial advisers are breaking away from their firm to set up on their own and the new IFA may be one of the youngest in the country.

Julie Clapperton and Eve Callaghan, 27 and 25 years old respectively, have just 10 years experience between them but have decided to venture out on their own, establishing the firm Financial Direction for Women.

In 2001, Callaghan was the youngest woman in the UK to pass the Advanced Financial Planning Certificate.

The company is set to join Sesame this week, breaking away from The Newton-Barr Partnership.

Its main areas of advice are pensions on divorce, stakeholder pensions, protection and investment trusts.

Aifa and Sofa say the women must be two of the youngest IFA owners in the country.

Clapperton says: “There is definitely the view that the older you are, the more exp-erienced you are in the ind-ustry and therefore you make a better adviser. Naturally, I do not agree.

“We aim to provide a fre-sher approach and to use plain English and no jargon which is what people tend to appreciate.”


FSA warns on provider incentives to IFAs

The FSA is warning financial services companies against given hidden sweeteners to IFAs to secure business relationships. FSA chief executive John Tiner told the Treasury select committee that the regulator has written to chief executives of UK product providers telling them that any payments to IFAs must be clear, open and transparent.

Axa says single-tie firms will not die out

Single-tie operations will not die out with the onset of depolarisation, according to Axa Life head of distribution (building societies) Steve Jenkins. Jenkins predicts that open architecture products will evolve, providing an element of choice to consumers but through the economies of a tied wrapper so the tied sector will not be as vulnerable as […]

Bidders lining up for Charcol

Industry speculation suggests that a management buyout of mortgage broker Charcol by a team of senior advisers could rival a bid by the firm&#39s senior technical manager Ray Boulger and head of mortgage development Walter Aberilli. Other possibilities include Charcol being bought by estate agents Spicerhaart, Countrywide or leading broker Savills Private Finance, according to […]

Standard in external search for finance director

Standard Life is aiming to boost the plc experience on its board by looking externally for a new finance director to replace John Hylands. Hylands will move to a new role leading the project to demutualise Standard. Two weeks ago, the appointment of Trevor Matthews as chief executive of life and pension business marked the […]

A tough start for 2017 consensus trades

By Kacper Brzezniak Every year, starting around November, investment banks (and fund managers) begin to drip out their outlooks for currencies, rates, economies, you name it, for the following year. The consensus has been largely wrong for the past four or five years; those multiple rate hikes never came, the bond market is still alive […]


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