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DSFs are defecting to DBS

Network DBS is growing at a rate of up to 40 RIs a month, according to chief executive Tony Kempster.

DBS says 60 to 70 per cent of the new recruits are defecting from direct-sales offices such as Allied Dunbar. Kempster says Dunbar is losing one or two firms a month to DBS.

The remaining recruits are new to the game and join the Huddersfield-based network through its start-up programme.

DBS has recruited “a lot” of ex-Colonial salespeople after Colonial was taken over. DBS says the salespeople were attracted by the speed they could be processed into the network – six to seven weeks.

DBS has over 2,800 members. New recruits have to go through a training programme which depends on whether the adviser has competent designated individual status.

The network&#39s growth is part of a wider trend which has seen the number of IFAs grow at the expense of the direct salesforces. DBS says the total number of IFAs now tops 25,000, up from a low of 20,000 in the early 1990s.


NU chief tells IFAs to grow or get a niche

The UK&#39s biggest life office Norwich Union is telling advisers they must expand or find a business niche if they areto have a future.NU Life chief executive Philip Scott, speaking at the Aifa conference in London last week, said changes in the marketplace mean IFAs will have to adapt and focus on size or go […]

Credit Suisse creates new economics team

Credit Suisse First Boston has announced the creation of a new global economics research group. The group, based in London, will comprise Mary Davis, Maxine Koster and Umberto Alvisi. All will report to CSFB chief economist and head of fixed income research Giles Keating.

Unions fear stakeholder misbuying without advice

Financial services unions have joined the ranks of providers and IFAs warning that stakeholder pensions will be misbought if sold without advice.The Manufacturing Science and Finance Union, which has nearly 400,000 members, says it is wary of stakeholder being sold on an execution-only basis due to the risk of misbuying.The news comes after the UK&#39s […]

Lloyd George Management – Global Information Fund

Friday, 29th September 2000.Type: Open-ended investment company.Aim: Growth by investing in technology, media and telecommunications.Minimum investment: Class A shares – £1,000, class B shares £500,000.Investment split: US 50 per cent, Japan 15 per cent, UK 10 per cent, other 25 per cent.Isa link: Yes.Pep transfers: Yes.Charges: Initial &#45 A shares 3.5 per cent, class B […]


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