View more on these topics

Fidelity surges ahead as IFAs&#39 favourite fund firm

Fidelity raced ahead of its rivals to secure almost a quarter of IFA fund recommendations in May, according to research company Keydata.

Its latest findings show that Fidelity received 24 per cent of IFA recommendations, an increase from its 14 per cent share at the same time last year.

Fidelity was well ahead of second-placed Credit Suisse, which received 9 per cent of recommendations.

Third was Invesco Perpetual with 8 per cent. Newton was fourth with 7 per cent and joint fifth were ABN Amro and Jupiter – which secured 9 and 7 per cent respectively last year – with 5 per cent.

The biggest faller was Norwich Union which, having been placed sixth last May with 6 per cent of IFA recommendations, fell to a lowly 18th, with just 1 per cent.

Keydata attributes Fidelity&#39s surge to its heavy ad spend. It believes that Credit Suisse&#39s ascent – it was 28th with 0.54 per cent last May – is due to its position as a leading manager in the income sector, currently the most recommended by IFAs.

Credit Suisse&#39s income fund, run by star manager Bill Mott, was the individual fund which received most recommendations from IFAs in May, followed by Invesco&#39s higher income fund.

Keydata director Hugo Huggett says: “Fidelity continues to spend heavily on advertising and this is reflected by its position. Credit Suisse is dominating the income sector and Invesco&#39s third position represents a vote of confidence in the Perpetual deal.”


An oversight by the FSA

Six months on, N2 is coming home to roost. In its rush to impose the new regulatory regime last December, the FSA faced the thankless task of telling us how the changes would affect us.Not surprisingly, it failed to get beyond the headlines and it is only now that the ramifications of some aspects of […]

GMAC-RFC slices up to 1% off rates

GMAC-RFC is cutting interest rates by up to 1 per cent on most of its non-conforming mortgages and offering a new mainstream capped-rate loan.The moves come as it leaps into the top 20 UK lenders for the first time, ranked 14th in terms of volume of gross lending, according to CML figures for 2001.It is […]

Equitable deals a new blow to policyholders with harsher penalties

Equitable Life has slashed its maturity and surrender values further in a bid to maintain solvency, blaming recent stockmarket falls.In a move described by Equitable as “most regrettable”, it will now reduce maturity values by 10 per cent, rather than 4 per cent, unless this brings the value to below the guarantee, which it will […]

Gay IFAs lead assault on insurers&#39 &#39homophobia&#39

The Terrence Higgins Trust, gay rights lobbyist Stonewall and a group of gay IFAs have come together to fight what they claim is homophobia and Aids&#39 discrimination in the life insurance industry.The group is spearheaded by Compass IFA director Chris Morgan and includes Ruth Whitehead Associates and former IFA Roger Taylor. It is meeting with […]


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