View more on these topics

Fear over providers investing in IFAs

Almost 70 per cent of IFAs believe that providers investing in IFA firms will compromise the independent status of those businesses, according to a study by George Street Research.

Of the 204 companies surveyed in the research conducted exclusively for Money Marketing, only 19 say the image of independence will not be damaged by providers investing in their firms.

IFA firms across the board have responded negatively to the idea of accepting investment from providers, with 72 per cent of local IFAs, 67 per cent of national firms and 57 per cent of regional firms saying independence would be compromised.

Some IFAs reject the claim, however, saying there is alr-eady a number of IFAs such as Towry Law and Woolwich Independent Financial Advisory Services owned outright by providers.

A strong majority of all firms, regardless of their type, specialty or location, believe that providers will use the relaxation of the polarisation regime to buy a better distribution position.

The survey found that 170 firms believe there will be a dash for distribution as a result of the changes proposed by CP121.

George Street asked 204 IFAs a series of questions about their views on the proposed changes to the polarisation regime. The survey was conducted between February 11 and February 28.

Wentworth Rose managing director Philip Rose says: “You can run an independent business while still being owned by a product provider. I think it is a naive answer and I do not think it is true. As far as a dash for distribution, it is already happening.”


Fund manager deal speculation rife

Mellon has emerged as the leading bidder for Royal & SunAlliance Investments, according to a report in Sunday Business.If the bid is successful, Mellon is likely to merge RSAI with its existing UK fund management operation Newton.Also in the weekend&#39s papers, the Sunday Telegraph revealed Investec to be amongst the leading bidders in the race […]

SASS with Standard Life

STANDARD LIFE – Small Self-Administered Scheme Type: Small Self-Administered Scheme. Minimum investment: £416.67 a month first member, £208.33 a month average for additional members. Investment choice: Standard Life funds – sterling one, fixed interest one, property one, protection one, structured one, index-linked one, managed one, ethical one, international one, stock exchange one, Far East one, […]

Genesis Home Loans Planets & Moons Neptune

Genesis Home Loans Planet & Moons Neptune Type: One-year discountDiscounted term: Until June 1 2003Discount: 1.6%Payable rate: Full status — 6.27%, self-certification 6.77%Minimum loan: £25,001Maximum loan: £750,000 Income multiples: 3.5 x plus 1 or 3 x jointArrangement fee: £395Redemption fee: 6% in year one, 6% in year two, 5% in year three, thereafter 1% of […]

Time someone put FSA right

I read with interest the polarisation Q&A article in Money Marketing.One statement of Mr Severn&#39s highlighted to me the main problem we have as IFAs.He was reported to have used the phrase: “When an IFA sells a packaged prod-uct…” Doesn&#39t he know that IFAs don&#39t or should not sell products? I am an IFA and […]


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