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Follow the trail

I have read quite a bit about the proposal to stop trail commission. However, no one has ever thought to ask life companies what they do with their trial commission? On leaving a tied position, all of my renewal commission that I had built up stayed with Abbey Life. It was not paid to another adviser, IFA or rebated to the client. Would the life companies like to reply?

Michael Broadwood By email

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A great adventure for Close

CLOSE VENTURE MANAGEMENT Close Income & Growth VCT Type: Venture capital trust Aim: Income and growth by investing in unquoted companies Minimum investment: Lump sum £1,000 Closing date: April 4, 2005 Charges: Initial 5.5%, annual 2.5% Commission: Initial 2.5%, renewal 0.25% Tel: 020 7422 7830 The Close income and growth VCT is a venture capital […]

Direct Line pull out of mortgage market until M-day

Royal Bank of Scotland subsidiary Direct Line is the first lender to pull out of the mortgage market temporarily in the run up to mortgage regulation. The FSA requires lenders to lay out &#39key facts information&#39 uniformly so that easy comparisons between lenders can be made. This will come into effect on M-day (October 31) […]

Clerical Medical – Retirement Options Plan

Type: Income drawdown plan Minimum investment: £100,000 Minimum age: 50 Investment choice: Choice of 21 Clerical Medical funds,14 external funds from Newton Schroders and UBS, balanced, cautious and defensive fund collections Options: Self-investment, phased retirement Allocation rates: 95%-100% Charges: Annual up to 1. 8%, annual 1.25%-1.6% for external funds, additional charges for self-investment Commission: Initial […]

Get into training

I recently visited some clients to discuss options for constructing a broadly-based portfolio of investments for mediumto long-term growth but, eventually, for income. Their risk profiles ranged from two to nine on our notional scale of one to 10, so I thought it might be appropriate to consider a with-profits bond for some of the […]

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