View more on these topics

Don&#39t be a test cash dummy

Interactive Investor has launched what its describes as phase two of its Interactive IFA service ( Although a fuller review of this service and a more detailed overview of the benefits or otherwise of their services to the market will appear in the near future, I do have some initial reactions.

Most of this is nothing out of the ordinary and certainly not things that are not available elsewhere or being developed by insurers to provide to IFAs free of charge. There is, however, one interesting service.

This enables IFAs to set up client portfolio details under a confidential code number and identify changes which they would want notified to them. This is a seriously good idea. Now for the bad news – at this stage, you can only set up 20 clients for the service.

Most IFAs I know have more than 20 clients. What Interactive Investor really wants you to do is test the system and tell it how to get it right. Next year, I am told it will launch a version of this which will allow IFAs to keep details of as many clients as you want on the system, but guess what, then the IFA will to have to pay!

This introduces a concept in the area of client policy information that I believe should be strangled at birth – the IFA pays! How would IFAs feel if they had to pay for every quotation from The Exchange? At the same time, the company would like your help in developing the service.

As if this were not enough, you are tied to a service it runs and control, it holds the method of you continuing to be able to supply a service to your clients. Personally, I think this sounds to me like an excellent example of the Hotel California syndrome – you can check in any time you like but you can never leave. I will leave readers to form their own opinion if they would want to play this game.


Public warming to phone sales

Investors are more interested in buying life and investment products direct than they were three years ago. According to a survey by NOP for ad agency DMB&B Financial, 17 per cent of investors say they would buy shares or other investments over the phone – up from 10 per cent in 1995. The poll, which […]

Consultant hired to seek new shareholder for GFH

Guinness Flight Hambro has hired DLJ Phoenix to find it a new shareholder just two weeks after the sale of Bank of Yokohama&#39s stake in the company to Investec. The management of Guinness Flight Hambro is fuming at BoY for selling its parent company, Guinness Mahon Holdings, as a whole rather than selling its stake […]

Give common-sense advice as we wait and see

This is the most surprising Budget that I can remember. On the face of it, it is give, give, give. Say goodbye to ISA-friendly gimmicks in the Pep market. Flexibility and choice in Peps are paramount. An example from the past is when people selected providers of retirement annuities and, following the introduction of personal […]

Guide cover

Guide: how to… communicate with your pension members

Effective communication of your pension scheme is a large part of getting auto-enrolment right. Delivering the same message to all employees is not necessarily the way to go. To assist you with the communication of your pension scheme, we have provided some key areas to think about, such as:

  • What to consider when segmenting your workforce
  • How to communicate to pension scheme members at the right time in their member lifecycle
  • What topics you should be discussing with your pension members
  • The new pension freedoms and the importance of communicating them


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