View more on these topics

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.”

Recommended

Nearly 50% of IFAs say unit trust charges are too high

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

Friday 8 February, 2002 Type: Capital protected offshore fund. Aim: Growth linked to the performance of the FTSE 100 index. Minimum investment: Lump sum £6,000, Lump sum Isa £5,000. Place of registration: Dublin. Investment split: 100 per cent linked to the FTSE 100 index. Guarantee: Capital returned in full at end of term. Isa link: […]

Standard of living is increasing for state-dependent

State-dependent single pensioners have seen a significant increase in their standard of living in the past 12 years, according to research from Britannic Asset Management.Using a new “standard of living index”, BAM shows that retired single state-dependent households have inc-reased their standard of living by 47 per cent since 1990 compared with a rise of […]

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 […]

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