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Fantasy league

The only really relevant comment on your
Superleague supplement is: “Turnover is vanity – profit is sanity.”

How many of these “super” IFAs actually make a profit? For heaven’s
sake, one of them listed is even in administration.

Even if they manage to show a meagre return, what is this as a
percentage of turnover? What are the tangible assets? Do not include
goodwill, that is just hype.

Which sane investor would put money in these organisations? Look at
share price performance – graphs that would make an Olympic diving
champion proud.

What about a list of the most profitable IFAs? That would be
impossible as most are not listed and who would be interested in
these small businesses anyway?No wonder life offices are cruising
around like kerb crawlers in a red-light district trying to pick up
multi-ties. Will a similar fate await them – the procured selling to
the highest bidder and the procurer waking up with a dose that is
painful, embarrassing and very debilitating, if not ultimately fatal.

Harry Katz Norwest Consultants,Stanmore, Middlesex


Resolution Life buys Swiss Life closed book

Closed fund administrator Resolution Life has bought the closed book of Swiss Life Groups UK business for 205m.Resolution Life says the 750,000 in-force policies, which are mainly non-profit protection contracts such as term, life and disability assurance, have an imbedded value of 271m.In September the company bought the closed book of Royal & SunAlliance for […]

Tilney wins AA rating for hedge

Sarasin Chiswell, formerly Sarasin Investment Management, will include the property investment funds – the proposed UK version of real estate investment trusts – in its new multi-manager global property fund.


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