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Contender for London mayor is backing IFAs

Liberal Democrat candidate for London mayor Susan Kramer has backed IFAs,

calling them ” a crucial part of the financial services sector”.

She claims IFAs are necessary to help individuals who do not have

investment expertise. Kramer made the comments in an interview with

MoneyMarketing while on the last week of campaigning in the race to become

the capital&#39s mayor.

Although whoever wins the mayor&#39s job will have little direct say in

financial matters, Kramer&#39s views are especially interesting because she

spent her career working in financial services in the US.

When she left Chicago to return home to the UK with her family she held

the title of vice-president of corporate finance at Citibank.

Kramer and her husband now operate their own venture capital firm that

invests primarily in developing economies in Eastern Europe.

Kramer says that when she went to seek financial advice she ensured that

the individual from whom she sought advice was genuinely independent and

not tied to any one company.

She says “If you do not have the time to do a lot of homework, having

someone there who is independent makes a huge difference. I feel much more

comfortable if an individual can look at a whole range of products before

they make a recommendation as to which is best for me.”

Aifa director general Paul Smee says of Kramer&#39s views of the IFA

industry, “I am delighted to have that endorsement.”


IFAs name stakeholder pensions as the crucial issue facing industry

Independent financial advisers unanimously place stakeholder pensionsabove polar- isation and regulation as the key issue facing the industry.Research carried out by Zifa polled 250 randomly selected national IFAs,network IFAs and sole traders and reveals stakeholder is uppermost in allIFAs&#39 minds.But when asked to rank two further issues in order of importance, theanswers were coloured by […]

Review work at a halt as FSA delay drags on

IFA networks are complaining that they have departments sitting idlebecause the FSA is making them wait a year for a pension reviewrecalculation.The regulator withdrew a formula relating to some transfers in phase twoof the pension review last autumn, saying it was wrong.Industry sources say they were led to believe that the correct formulawould be issued […]

Independent View

The last-minute rush to subscribe for an Isa has come and gone andhopefully we can all breathe a little more easily and plan our workaccordingly.Despite their complexities, Isas have been a success. This has beenfuelled partly by the desire of investors to get into technology funds.But there is no doubt that Isas are complicated. It […]

Reasons to be fearful

This business with stakeholder is getting quite ridiculous, not leastbecause the media are whipping it up into an issue of frenzied paranoiabearing little if any relationship to the attitude of the industry itself.First, customers are supposed to have freedom of choice, aren&#39t they? Oris the Treasury intent on taking that away? Commission-free contracts meanfees, the […]

Artemis Monthly Distribution Fund: positioning and outlook

Managers James Foster and Jacob de Tusch-Lec outline the fund’s investment approach and discuss current investment themes and outlook for the bond and equity markets. As James and Jacob confirm, the Artemis Monthly Distribution Fund’s aim is to generate an income from both equities and bonds. They explain their investment approach in each asset class, the sectors where they are […]


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