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Cap Gemini says standard fund deals can cut costs

Cap Gemini Ernst & Young is urging IFAs and unit trust providers to develop a standardised fund transaction method to avoid what it calls the current “horror show” for conducting business.

In a review of the mutual fund industry, CGEY says providers and IFAs can cut costs and speed up the transaction process by creating a universal payment method with software firms.

It believes this system would enable providers to make cost savings of up to 75 per cent and reduce the amount of time IFAs spend on completing deals and reconciliation.

But it says firms should act quickly to mitigate the pressure on margins brought about by the entry of fund supermarkets and non-financial companies.

It believes IFAs and providers can increase market share if they concentrate their efforts on offering a more efficient service rather than the most competitive price.

Retail funds specialist and author of the report Paul Stratford says: “What is required is for industry participants to work together in areas where there is little competitive advantage so processes can be changed to the mutual benefit of all concerned.”


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Nearly half of IFAs believe the unit trust industry is overcharging for its products, acc-ording to research by Money Marketing and Virgin One on the State of the IFA Nation.The poll of Money Marketing readers shows a significant proportion of IFAs support Sandler&#39s probe into the costs involved in the unit trust industry, with 44 […]

Inora Life – Safeguard Fund

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AIG cuts waiting PMI deal

AIG Europe is offering a private medical insurance plan so customers can avoid NHS waiting lists for minor ailments.The company says the Healthnow plan is available at a third of the cost of many PMI policies.The plan guarantees an immediate appointment with a consultant for less urgent medical conditions, including hernias and hip degradation, which […]


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