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Fidelity in call to zap the cap

Fidelity is voicing is disapproval of price or commission capping by enc-ouraging IFAs to speak out against any efforts to introduce anti-competitive controls by the Government or regulator.

The fund manager is encouraging IFAs to sport its “Zap the Cap” baseball hat which it distributed to advisers who attended its recent annual roadshows.

It says it wants to raise awareness among IFAs about the possibility of commission caps becoming a reality.

Fidelity says Sandler&#39s consultation paper, published in July, states that the commission concept is fundamentally flawed, an assumption it firmly rejects.

If commission caps are introduced, the company says it could be a potentially disastrous blow to the UK financial services sector.


Man at the top

The man who has been given the responsibility of turning the theory of a single financial regulator into a reality has had a busy time at the top.Between preparing the industry for N2 and dealing with episodes like Equitable Life or the aftermath of the September 11 terrorist attacks, FSA chairman and chief executive Sir […]

L&G sees growth in IFA online business

Legal & General says rolling out its online business completion service to include mortgage decreasing term assurance has shown that IFAs will trade online.L&G started offering mortgage decreasing term assurance online four weeks ago and says that 25 per cent of all new business applications for the product are completed online.L&G IFA e-commerce account director […]

Autif charts equity outperformance

Autif is encouraging investors to persevere with equity investment despite the recent hammering in stockmarket values.It says despite a 12 per cent fall in the UK stockmarket over the past three months, 10-year returns from equity and corporate bond funds have convincingly beaten bank and building society savings accounts.Its latest quarterly chartpack shows that every […]

Government looks at annuity trees and transfers

The Government is considering introducing decision trees for annuity purchase and allowing policyholders to transfer their annuity between providers after income has been drawn.The revelation on trees for annuities is likely to concern IFAs and will fuel fears of annuity misbuying.The proposals for decision trees and transferability are just part of a package of reforms […]


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