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Discretionary move studied

RSM Bentley Jennison Finan- cial Management is looking at launching a discretionary fund management arm.

The Standard-Life backed firm says it would operate alongside its advisory business but may have a separate brand name.

Investment director David Wynn says: “We are looking at discretionary because we run model investment portfolios for our clients and on an advisory basis it is difficult because you have to wait for clients to write back to give you authority to trade. From an administration perspective, we are looking at how we can make the whole process more efficient for clients.”

The firm uses a selection of platforms but will use just one for its discretionary service. Platforms under consideration include Standard Life, Raymond James and Seven Investment Management.



Providers fight factoring ban

Providers will continue to lobby the FSA over its ban on factoring, arguing that the regulator has failed to make a case for removal.

Medicals Direct acquires Capita arm

Medicals Direct Group has bought the medical support business of Capita Insurance Services which has a client base of 50.


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