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Few IFAs believe generic advice would lift saving

Only 16 per cent of advisers believe generic advice will improve the take-up of savings products.

Research by shows that 24 per cent of IFAs believe generic adv-ice will lead to a decline in take-up of savings products and 61 per cent think that it will have no impact. says IFAs welcome the apparent FSA U-turn on linking the word “independent” to remuneration methods rather than whole-of-market advice.

It says IFAs favour increasing the level of qualifica-tions among their profess-ion, with 74 per cent stating that it is important to hold incremental qualifications over and above the current benchmark.

Chief executive David Elms says: “We have seen a multitude of different views and opinions on the future shape of the UK financial advice market over the last six months.

“Looking forward, the debate needs to focus on the nitty-gritty of creating transparent payment options for consumers that apply on a level playing basis across all distribution types.”


McCarthy plays down effects of his departure

Sir Callum McCarthy says his departure this year from the FSA will not herald a change in policy direction from the regulator.Speaking last week at the Cass Business School in London, the FSA chairman said that a change in senior personnel would once have caused uncertainty in the industry but not any more.McCarthy said: “When […]

Thinc Group acquires Watterson Wealth Management

Thinc Group is expanding its wealth management offering with the acquisition of Watterson Wealth Management. The Knutsford-based firm, servicing the high net worth end of the market, brings 18 staff including three advisers into Thinc. It looks after over 250 clients and has £152m funds under management. The deal was completed for an undisclosed sum.Thinc […]

Former Skandia head Jim Roberts joins Sarasin & Partners

Sarasin & Partners has appointed former Skandia group investment director Jim Roberts as the group’s non-executive director.Roberts, who was also chairman of Skandia investment management, will look to build on Sarasin & Partners drive into the mainstream UK wholesale market.Sarasin & Partners managing director Guy Monson says: “We are very pleased to have attracted Jim […]

Greg Broomer 2

Survey looks at the challenges facing businesses post auto-enrolment

A survey conducted by Johnson Fleming at the Pension & Benefits Show 2014 highlighted the key challenges faced within organisations post auto-enrolment. The results showed that communicating the changes and the value of them to staff, and receiving timely data from the payroll provider proved to still be the most challenging aspects of managing an auto-enrolment scheme.


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