View more on these topics

DBS MD Pearson to head Misys mega firm

Misys has appointed DBS managing director Steven Pearson to head its new combined mega network of 4,000 member firms.

Pearson, who was also previously managing director of Financial Options, will take control as MD of the mega network group created by collapsing all five of its existing IFA networks, Countrywide, DBS, Financial Options, IFA Network and Kestrel, into one. The new name for the network will be revealed next month.

Misys says the move will save £250,000 in regulatory fees, with further cost savings expected over the longer term, which will be passed on to members.

The group says that it will not be rewriting contracts and all members will come under the new network as soon as it becomes regulated as a single body by the FSA in June.

Pearson does not deny that the move will bring job losses but says the group will also be recruiting in areas such as customer sales.

He says that, at 7,000 members, the network will not have reached capacity and will continue to be acquisitive.

Pearson says: “This is not about slashing costs for Misys but improving the look and feel of the network for the members. When we talk about value, price is just one dimension. One thing that comes across loud and clear is the value of the service. For most, the name of the network was unimportant – they want sensible and consistent compliance.”

As investors become increasingly cautious, Zurich&#39s Paul Wright says it is important to use an advice process which helps clients understand the role of risk in today&#39s markets


Freeze on stamp duty threshold condemned as another stealth tax

The Chancellor&#39s announcement that he freeze on thresholds for stamp duty on homes and business properties has brought an angry response from mortgage brokers who are branding it a stealth tax. Stamp duty will remain at 1 per cent on properties priced over £60,000, rising to 3 per cent on properties over £250,000 and 4 […]

UCB sets out steps to buy-to-let success

Nationwide&#39s specialist lender UCB Home Loans is publishing a free guide for budding landlords who want to take their first steps into the buy-to-let market. UCB says buy to let is a rapidly increasing market and spring has become a traditional time to seek out new properties. The guide, Buying to Let – Know The […]

Remortgages rise amid loan lull

Advisers are reporting a 14 per cent fall in new mortgage business for the first quarter of this year, according to the Paragon Mortgages financial adviser confidence tracker index survey. The survey reveals that new mortgage introductions fell by 14 per cent to 26.1 per adviser introductions from a record 30.2 in the final quarter […]

Enterprise Investment Scheme – The Water Machine

Thursday, 17 April 2003 Aim: Growth by investing in a water handling and purification system Minimum investment: Lump sum £2,500 Opening/closing date: March 26, 2003/May 30, 2003 Charges: Implicit Commission: Initial 2.5% Contact:

FAMR – a familiar response

Pension specialist Fiona Tait takes a look at the Financial Advice Market Review and assesses the three areas where it suggests improvements can be made With significant budget changes ruled out (for a while anyway), the pension community briefly turned its attention to the FCA’s final report on its Financial Advice Market Review (FAMR), hoping […]


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