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Caught in network

I read with interest a recent letter concerning the way that some networks treat their members.

Having become an IFA a little over two years ago following 28 years&#39 insurance company experience, I was amazed to find the high-handed manner with which I was treated by a leading network.

As Ivor Harper intimated in his letter on December 18, choosing a network is something of a lottery. For my first six months, I was made to feel as though

I were a very junior recruit of a direct-sales organisation.

I was fortunate in that I had joined a group of like-minded IFAs who were also experiencing frustrations. We decided as a group to join The Kestrel Network and, for the past 18 months, we have each seen a substantial improvement in our business and mental well-being.

I would warn any adviser to exercise extreme caution when selecting a network. Choosing the wrong one can seriously dent your enthusiasm, harm your well-being and diminish your turnover.

Gary Halewood

Principal, G M Halewood IFA,

Rottingdean, East Sussex


Fidelity closes international bond fund

Fidelity Investments is closing its £95.6m international bond fund to new retail investment and converting it into a sub-fund of the company&#39s Oeic. Fidelity says interest in the fund from the retail sector has dropped but existing retail investors will be able to remain in the fund. The annual charge will decrease from 1 per […]

EFM turns trusts into Oeics

Edinburgh Fund Managers is set to convert its £600m in unit trusts into an Oeic. Group sales and marketing director Nigel Whittingham says the company is committed to transferring all its 21 unit trusts into open-ended investments. Edinburgh&#39s unit trust business represents 12 per cent of its £7.4bn total assets under management It also has […]

KBIM and Thornton merged by Dresdner

Kleinwort Benson Investment Management and Thornton Unit Managers are being merged by parent company Dresdner Bank. The two fund managers&#39 names will be ditched as they join Dresdner&#39s US-based RCM Capital Management. The new group, Dresdner RCM Global Investors, will be run from the US and control more than £35bn in assets. As part of […]

Higher return from lower expectations

I was very surprised by the comments of the normally excellent Julian Gibbs (Money Marketing, November 20). He is completely mistaken to say that “in reality it is most unlikely that any of the major world stockmarkets will be lower in five-and-a-half years”. He should know that it is only because there is a very […]

When is £1m not £1m?

Neil Jones is technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The residential nil-rate band (RNRB) was first announced in […]


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