Bankhall has introduced a compliance service that all- ows members to conduct file checks online.The service, launched at its Berlin conference, has three formats – a full review, suitability review or pre-sale review. Costs range from 30 for a pre-sale or suitability review on non-investment products to 75 for an investment, pension or mortgage plan. For some more complex plans, the charge will be 75 an hour. Bankhall says it introduced the service following member demand, with the FSA regularly requiring at least 10 per cent of files be reviewed. Compliance director Roy McKean said it acts as a healthcheck, enabling IFAs to pinpoint compliance gaps in their firm. McKean said: “All these steps are aimed a freeing up the IFA’s time. It also provides a full audit trail the FSA can lay its hands on if ever it is required.” Bankhall is also giving members access to Techlink services from Technical Connection, in association with Zurich, via its revamped technical centre.
Shadow Treasury Financial Secretary Mark Hoban called for the Government to fight the growing trend of European protectionism if the UK financial services sector is to continue to flourish. At a British Bankers’ Association and Cicero Consulting fringe event at last week’s annual conference in Bourne-mouth, Hoban said the “hostile protectionism’ of mainland Europe was […]
Investors with nous are latching on to the new-style investment trusts
There has been a lot of comment recently that the days of smaller company funds’ outperformance are over because valuations are now comparable with those of bigger companies.
Over £100m in voluntary contributions has been contributed to child trust funds in the first 16 months, according to data from the Pep and Isa Managers’ Association. It says its survey of CTF providers shows that nearly 30 per cent of accounts are getting additional contributions. It says £20 is the average monthly direct debit […]
The strong dollar is hurting exporters, but the domestic economy is growing, the banks are strong and consumers are paying off their debts, says Cormac Weldon, head of Artemis’ US team.
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A High Court judge says the FCA can submit evidence in a case that could shape how Sipp misselling claims are handled in the future. In the case, which started today, lorry driver Russell Adams alleges Carey Pensions missold him a self-invested personal pension. Carey Pensions is accused of using unregulated introducers to invest Adams’s […]
Studies have found funds can be too big or too small to outperform, suggesting size does matter The assessment of whether to invest in a certain fund is a tricky business. Bearing in mind roughly 90 per cent of active funds do not beat their benchmarks over periods longer than 10 years, the odds are […]
The following sorry verse embodies procrastination on a whole new level: “Hello there, my name’s Phil; I rap like a small bear writing a will [diligently]; Estate-planning, ninja-whooping IHT; Shame I’m not as bizzie [urban affectation] with the RLP.” These words were penned in response to my father’s short verse sent to me, after the […]