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Clerical urges IFAs to move into wealth sector

Clerical Medical is urging IFAs to seize the opportunity to move in to

wealth management before high-street banks sew up the market.

The life office believes wealth management represents a massive

opportunity for IFAs, as they have the right skills to provide a valuable

service to their clients.

But Clerical says advisers must get in on the act now or face the danger

of letting high-street banks grab the winning formula and dominate the


HSBC, Abbey National, Barclays are some of the high-street banks trying to

make a play in wealth management. IFA Lighthouse is one of the few IFAs to

make a high-profile move into the wealth management arena.

Clerical says current attempts at wealth management are not tackling the

market from the right app-roach and the services should co-ordinate other

advisers such as stockbrokers and solicitors.

It believes that wealth management is about managing high-net-worth

clients by providing a consistent relationship.

Clerical strategic marketing director David Shelton says: “IFAs must take

care or they could miss the boat. The majority of the market is not in the

position to make the most of it but those who are, given the existing

connections they must have, are sitting on a big opportunity. If they do

not act, high-street banks might just get it right.”


Lending at another new high

Mortgage lending in June hit a new high for the third consecutive month,according to the latest figures from the Council of Mortgage Lenders. Total gross mortgage lending by banks and building societies rose to£15bn from £13.6bn in May – the most lent in one month since CMLrecords began in 1998. Lending purely for house purchase […]

Free loan cover from Leeds & Holbeck

Leeds & Holbeck is offering free mortgage payment protection insurance onall new mortgages from this week. Cover is provided against sick-ness,accident, unemployment or hospitalisation. The offer is for£154.14-worth of cover over six months on a 20-year £60,000capital and interest mortgage at its standard variable rate.

SocGen arm links with Assureweb

Societe Generale subsidiary Inora Life has linked up with IFA portalAssureweb&#39s offshore platform to distribute its products into the UK IFAmarket, bringing the total number of providers on Assure-web&#39s offshoreservice to 14.

Charitable drive targets advisers

IFAs are the target of a new campaign encouraging people to maketax-efficient donations to charity as part of their financial planning. The independent Giving Campaign was launched last week with support fromthe Government and the voluntary sector. It hopes to boost charitable donations by at least £500m over thenext three years. Total donations in 2000 […]

Key themes for 2017

Capital Market Notes, December 2016 Dave Lafferty, chief market strategist at Natixis Global Asset Management, assesses the accuracy of his 2016 outlook and provides his thoughts and outlook for 2017. Click here to read the full article


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