FP Advance has set up a business consultancy practice which offers help to advisers looking to move towards a fee-based model.The firm says it will offer specialist advice and training to advisers, networks, nationals and wrap or product providers looking to support fee-only practices. FP Advance, formerly operating as FP Transition, says with the changing regulatory environment and increasing cost pressures on IFAs, many advisers think that moving to a fee-based model will add another layer of complexity. But managing director Brett Davidson, an Australian financial planner who migrated his own practice remuneration from commission to fees, says the methodology that his firm employs will enable firms to increase their profitability as well as provide better service to clients, with reduced admin. Davidson says FP Advance’s charges are based on a percentage of the client firms’ turnover but all programmes are developed on a bespoke basis. He says: “Our methodology has enabled many firms to look at a new way of working, with increased profitability, better client servicing and reduced admin burden.”
Eighty six per cent of advisers think the National Pensions Savings Scheme will lead to a reduction in contributions for existing schemes, according to a Scottish Life BeeHive Poll.
Pensioners have seen an average rise of 34 per cent in the cost of the goods and services they purchase, in the last ten years, says new research from Clerical Medical.
Lifesearch has finally completed a life insurance policy which has taken two years to process. The 50,000 life-only policy for 16 years was submitted in June 2004. Head of protection strategy Kevin Carr says there were delays such as changes in the client’s circumstances, including occupation and health and delays in getting various medical reports […]
Last week saw me visiting Liontrust in its offices adjacent to the Savoy. Nigel Legge, one of its founders, and I go back a long way. Indeed, it is true to say that most of the original team and I are old muckers, as we all worked together at James Capel. Liontrust may have had […]
With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.
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The Association of Investment Companies will not be hosting the new key information documents on its website saying to do so would be irresponsible. Since 1 January, Priips legislation has meant advisers have to publish a stand-alone, standardised KID to their client including performance scenarios, risks, and the total cost of products. However, trade bodies […]
The Financial Services Compensation Scheme has paid out £5.7m so far to nearly 800 customers of collapsed discretionary fund manager Strand Capital. The payments were made to 796 investors over the past two weeks. The payments related to client cash only. The compensation was paid directly into customers’ self-invested personal pensions. An administrator’s report published in […]