View more on these topics

Fund firms in stand-off with S&P over fee rise

Fidelity, Framlington, Merrill Lynch, Schroder and Threadneedle are withholding payment from Standard & Poor&#39s Fund Research over the level of its fees.

The stand-off, which includes other fund managers, began after S&P raised its fees in July following its decision to make fund research free to IFAs. S&P&#39s fund research service has continued despite the failure to pay.

The new structure charges managers an annual flat fee plus a fee in proportion to the number of funds it expects will receive a research rating. But several fund managers face double their previous bills.

S&P UK sales director Chris Butterwick says: “There are a number of firms fully paid up but others we need to have further discussions with.”

Merrill Lynch Investment Managers head of marketing and communications Richard Royds says: “I will be interested to know whether making it free to IFAs will make a difference, given that the industry pays for the printing of fund research reports for distribution on a fairly wide-scale basis already.”

Recommended

CML endorses FSA endowments&#39 announcement

The CML have responded to this week&#39s announcement by the FSA by re-affirming the need for borrowers with endowment pensions to monitor their plans for repayment It states the FSA&#39s assertion that existing endowment customers have generally fared better than if they had taken out a repayment mortgage was re-assuring. It advises borrowers to consider […]

B&B finance director in move to Murray Financial

Bradford & Bingley finance director John Smith has been recruited for the same role at Edinburgh-based IFA Murray Financial Corporation.Murray Financial is making no secret of its expansion plans, having tried to take over Leek United Building Society in a £30.5m bid. The firm was set up in 1998 and floated on the Aim with […]

The facts on PI

At Collegiate Insurance Brokers, we specialise in the professional indemnity market, especially for IFAs.We have access to all the major PI underwriters within the market.Notwithstanding PYV&#39s recent reported comments, it is our opinion that the endowment mortgages exposure is unlikely to cause premium increases of the magnitude stated.We are able to obtain quotations very similar […]

Amnesty or amnesia for Isa chaos?

The lessons learnt from the first year of Isas could push investors towards seeking financial advice the next time around.The industry fears that many investors have unwittingly broken the Isa rules because they do not understand the difference between mini and maxi Isas.Out of a survey of 1,000 adults, over half who had heard of […]

2016 Global Survey of Individual Investors: How is investor behaviour rewriting the job description for financial professionals?

Trapped between expectations for near double-digit returns and strong apprehensions about investing in persistently volatile markets, investors worldwide are of the opinion that professional financial advice is worth the fee. But even though they believe individuals who work with a financial professional are more likely to achieve their goals, investors have a clear vision of […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment