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Friends, NU and Widows buying 40 per cent Assuresoft stake

Friends Provident, Norwich Union and Scottish Widows have taken a combined forty per cent share in Misys-owned IFA electronic portal Assuresoft.

The portal was bought by the Misys network stable as part of its purchase of DBS last year. The move will see the three companies invest a total of £9.2m in Assuresoft ltd taking their shareholding to 40 per cent in the next three and a half years. Misys will retain 60 per cent.

Misys says an additional £16.8m will be payable by the three life offices, once again over three and half years, for what it describes as services related to usage of Assuresoft.

The network giant says it will retain operational control, led by the existing managing director Helen O&#39Dea, but that the three providers will help shape portal strategy.

Misys also says the Assureweb portal will link “seamlessly” with its point of sale software Mi-Solution.


Dresdner investment trust flys the flag

Dresdner RCM British Portfolio Trust Product Details: Type: Investment trust. Aim: Income and growth by investing in UK equities. Minimum investment: £1,500. Maximum investment: No maximum. Investment split: 100 per cent in UK equities. Types of share: Ordinary. Isa link: Yes. Pep transfers: Yes. Redemption date: None. Charges: Annual 1 per cent. Commission: Initial up […]

Readers get a chance to grill Severn on 121

The head of the FSA&#39s polarisation review David Severn has agreed to answer questions emailed by Money Marketing readers on consultation paper 121.Given the length of the regulator&#39s consultation paper, many IFAs may not have time to study the report in detail.As such, we are providing our readers with this superb opportunity to put specific […]

&#39Fee increase may see 10% leave DBS&#39

DBS could lose up to 10 per cent of its members in the wake of last month&#39s 30 per cent fee hike, says a City analyst.It claims Misys&#39 IFA operations will be hit by increased competition from IFA service providers such as Bankhall getting significant backing from major product providers.The Commerzbank analyst&#39s report, seen by […]

Breakfast with Popplewell

Money Marketing&#39s IFA personality of the year Keith Popplewell is appearing on Channel 4&#39s Big Breakfast programme every day this week.To catch the cheeky IFA columnist, tune into Channel 4 between 7am and 9am each morning.Popplewell, with his wife and two children, make up Big Breakfast&#39s family of the week, and will be appearing regularly […]

Stop the cold-calling

Royal London is pleased to support the petition calling for a ban on cold-calling for pension and investment products. The petition, launched by IFA Darren Cooke of Red Circle Financial Planning and hosted on the Parliamentary website, calls on the Government to ban cold-calling for pensions and investment products. A similar ban is already in force […]


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