View more on these topics

Chance was missed on depolarisation

The AITC says the FSA missed an opportunity to promote the marketing of trusts during the consultation on depolarisation.

Director general Daniel Godfrey told last week&#39s Money Marketing/Sway round table meeting at Somerset House that the regulator could have done more to help by unbundling the cost of advice from the sale of the products.

Investment trusts are lagging behind unit trusts because IFAs prefer their commission structure. In a depolarised advice market, IFAs will have to offer clients a choice of paying fee or commission.

Sway chief executive John Maguire argued that marketing teams should have ensured that investment trusts were represented in multi-manager and fund of funds portfolios and were made simpler so they could be included in wraps.

Baillie Gifford sales and marketing director Ken Edwards said: “This represents an opportunity for investment trusts that we have to try and take. There are marketing challenges coming up. We have to also look at charging structures.”

Godfrey said: “There is plenty more the AITC can do in terms of the structural issues with investment trusts and in terms of commission. We were quite active in the depolarisation debate.

“We saw that as an opportunity and now we see that as a missed opportunity. We are not against commission but we do believe that there are times where it is not appropriate.”


LIA and Aifa attack FSA move to &#39de-skill&#39 advice

The LIA and Aifa say FSA plans for simplified products will de-skill financial advice and they want to see qualifications for the sale of stakeholder products. The LIA and Aifa are pressing for an exam and training sessions for people selling the simplified products. They are against FSA proposals that would see a scrip-ted list […]

Platinum joins premier league

Platinum Capital Management has established a hedge fund that will invest in UK, US and European government securities using a long/short strategy. The Platinum premier fund aims to produce absolute returns of between 10 and 18 per cent, with low volatility, in all market conditions. It will have what Platinum calls a short-term interest rate […]

Tesco starts supermart Sweep into mortgage business

Mortgage lenders believe Asda may move into homeloans proposition after Tesco revealed last week that it will add mortgage products to its personal finance scheme. Halifax press spokesman Paul Fincham says Asda and other leading supermarkets making an entry into mortgages should not be ruled out, saying: “There is a pretty low barrier to entry […]

Levy mettle

The Association of Mortgage Intermediaries is keen to establish a voluntary arrangement with lenders to subsidise intermediaries&#39 payments to the Financial Services Compensation Scheme after the industry becomes regulated. A similar subsidy has until now been in place for life and pension IFAs via the Pass scheme set up by product providers although this subsidy […]


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