View more on these topics

DBS makes Assureweb compulsory

All DBS members will have to sign up to Assureweb from April as part of the network&#39s minimum technology requirements, plans first revealed by Money Marketing in August 2000.

DBS will also risk-rate firms from N2 for training and competence.

All communication between members and the network will be by email. The 3,000 DBS members will have to become registered users of the portal and the Assureweb extra-net. Registration is free.

DBS says this will bring financial savings, improve efficiency and give all members online access to information. It says it is taking the lead from the FSA by adopting a risk-based approach from November 30. The network will use criteria such as number of investment advisers, turnover and complaints to rank members high, medium high, medium low and low risk.

On top of a basic compliance cost based on turn-over to cover an annual and review visit, firms have to pay £500 for each additional visit required to sort out compliance issues.

DBS member Best Advice consultant Anthony Moss says: “Whether it is good or bad to have to use Assure-web is questionable but it is inevitable as big corporations adopt more technology. I am sure all firms will be keen to see what the risk assessment is based on.”

DBS spokeswoman Anna Scarfe says: “Members must register for Assureweb but do not have to use it although it has useful information for members. The risk rating is in line with the FSA&#39s more adult approach to compliance.”

Recommended

Taking advantage

21st Century Health Plans has introduced the hospital advantage plan, an individual PMI plan that aims to provide affordable cover for hospital treatment. It operates through a public-private partnership between 21st Century Health Plans and selected NHS hospitals. Policyholders are given access to private NHS facilities at a negotiated rate. Premiums range from £176.27 a […]

Sandler stuns IFAs with client commission claim

Ron Sandler has stunned IFAs and providers by suggesting that IFA clients are only satisfied because they think advice is free when it is really an opaque loan paid for through commission. Speaking at last week&#39s annual Aifa dinner in London, Sandler, head of the Treasury-commissioned review into the long-term savings industry, said: “If it […]

Artemis – Aim VCT

Thursday, November 22, 2001.Aim: Growth and income by investing in companies quoted on Aim,OFEX and unquoted companies.Minimum investment: £3,000.Opening-closing date: November 8, 2001-April 3, 2002.Charges: Initial 5 per cent, annual 2 per cent.Commission: Initial 3 per cent.Tel: 020 7367 5600.

Independent view

The industry has been asking itself a lot of questions recently. As the Sandler consultation period closes, the ever-topical issues surrounding IFA remuneration have been given a good airing. But have we come up with any answers? My opinion (and one which is widely reflected in Charcol&#39s business strategy) is that there is, and should […]

Leading Edge – April 2017

There is little doubt 2017 will be a year of political uncertainty. Leading Edge is Royal London Asset Management’s regular review of investment markets. This edition explores some of the impacts that this uncertainty is having on investors, from the pitfalls of prediction within UK equity investing to the dangers of opting for convenience over […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com