View more on these topics

EMX seeking new supermart deal

EMX, the new purchase, sales and valuation sys-tem for investment funds,

is trying to persuade new fund supermarket Consolidated Funds to use its


EMX chief executive Caroline Lee is meeting Consolidated chief executive

Sam Jensen later this week to discuss the potential of linking up.

Three of the founder funds involved in Consolidated Funds already have EMX

interfaces up and running according to Lee. She says that as Gartmore, M&G

and Thread-needle are already using EMX, it makes sense for Consolidated

Funds to come on board.

Jupiter is the only fund that has not built EMX interfaces.

Jupiter sales and marketing director Steve Glynn says: “Jupiter is not

using the EMX system. It is a commercial decision. We are waiting to see

how EMX develops.

“At the moment, the system has limited bene-fit for the shape of our business.”

Lee says: “Fidelity has confirmed that they will be using the EMX system.

I will be talking to Sam Jensen this week about Consolidated Funds using

the EMX system.

“The only alternatives are for funds either to continue to carry out

transactions on paper or build their own interfaces.

“It does not seem to make sense for funds to build interfaces to each of

the providers now that EMX exists.”

EMX launched this week with 19 providers but only 10 intermediaries.

The company says there are six more firms currently in the process of

signing, two of which are providers and four intermediaries.


Standard urging members to take a long-term view

Standard Life has allied itself with the building society movement in itsfight to stay mutual, warning that the future of fin-ancial services hangsin the balance.Chief executive Jim Stretton made a hard-hitting defence of mutuality atthe Building Societies Association conference in Edinburgh last week.Standard Life has also attacked the FSA for not including pastperform-ance in league […]

Legal advice service for £10 a month

Armstrong Neal Solicitors and its training organisation ProAct areoffering a legal service for IFAs for “the price of a takeaway”.For £10 a month, IFAs can join Legal Protect for guidance in disputeswith networks or a regulator. Armstrong Neal&#39s usual hourly rate is£250.Its caseload of IFA-based disputes has doubled this year. It says themajority of cases […]

£5m ads start the struggle to sell stakeholder

Pension providers believe the Government faces an uphill battle topersuade its target market about the merits of stakeholder.The Government is due to kick off its crusade to encourage stakeholderuptake in January with a £5m advertising campaign. But providersbelieve it will face a real struggle to overcome the apathy towards pensionsaving.Research from IFA Network has found […]

L & G warns against scoring pensions own goal

As the nation plunges into football frenzy, Legal & General is warning stars and fans alike that even premiership footballers could face a massive income shortfall when they retire. The life office claims the likes of Shearer, Owen and Beckham could score own goals in their pension planning and be forced in to retire with […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment