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Davy challenge starts portals&#39 storm

DBS chairman Ken Davy is throwing the gauntlet down

to The Exchange by predicting Misys&#39 acquisition of DBS will deliver the number one portal for IFAs.

In an article in this week&#39s issue of Money Marketing, Davy says: “I believe the Misys/DBS combination will deliver a portal of choice in the advice market. Many IFAs say they are hungry for something better than the existing offering which dominates the electronic quotation market.”

Davy, who says he is to stay at the helm of DBS, claims Assureweb&#39s planned delivery of an electronic trading platform linking to back-office systems will give IFAs the seamless advice process they need.

But competitors claim, regardless of whether Assure-web or m-link survives the merger, market dominance is unlikely as different types of IFA want different portal solutions.

The Exchange managing director Jim Gaskin says: “Our key strength is our independence. We do not own distribution, which means we have to develop products and services that meet IFAs&#39 needs rather than forcing them to use what we decide is best for them.”

Torquil Clark investment strategist Philippa Gee says: “It will require something major to effect a major change on the workplace and they do not seem there yet. What they do is good but they are not going to achieve world domination.”

l Davy, p12


Teacher&#39s BS form master plan

Teacher&#39s Building Society has introduced the cashmaster mortgage plan, a five-year discounted rate mortgage with a cashback.This mortgage is available for loans of up to 95 per cent of valuation and has a 0.25 discount for the first five years. This gives a current payable rate of 6.49 per cent and borrowers who redeem during […]

Why DBS deal will benefit all IFAs

From the press coverage in recent weeks, you&#39d have thought that DBS and Misys had been cast in a David and Goliath battle, portrayed as the mighty network giants intent on domination of the financial advice market.In reality, I believe that we are playing David in a market that&#39s witnessing a frenzy of mergers involving […]

NU new stakeholder ads aim to reach individuals

Norwich Union is running the second stage of its stakeholder advertising campaign with a £3m spend on poster and press ads.This brings NU&#39s spending on stakeholder advertising this year to £10m, including a television campaign which ran in May.The poster ads carry the same theme as the TV campaign and will appear on billboards, bus […]

Fund managers set to fight for &#39baby bond&#39 default fund

Fund managers could find themselves competing with each other to win the mandate to manage the default option for the Government&#39s child trust funds.The Treasury, which first mooted the idea of child funds in the recent Savings & Assets for All paper, is looking to create a default investment option for parents who do not […]


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