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German IFA spots them early in UK

A German high-tech IFA which spots future wealthy clients while they are still at college enters the UK next month.

MLP consultants combine personal and online advice. It will initially have a branch network in the UK of 11 consultants targeting high-net-worth individuals. Its UK strategy will be similar to its German, Austrian and Dutch operations.

The Heidelberg-based group&#39s profits rose by 40 per cent over the past year to £68.8m from £48.6m in 1999. It has a client base of 370,000 and has 2,000 consultants in 220 branches based near university campuses across Europe. Training is intensive and consultants get up to 87 days training a year.

Millfield Partnership managing director Bryan Beeston says: “This is their first sojourn into a regulated market so it will be interesting to see if they adapt their business model.”


Scottish Widows – Stakeholder Pension Plan

Friday, 9th February 2001.Type: Individual stakeholder pension.Minimum premium: Monthly £20.Minimum-maximum ages: 18-75.Fund links: Consensus, all share tracker, fixed interest tracker, mixed, safety plus, European, UK equity, fixed interest, property, North American, Japanese, environmental, global equity, cash, Newton balanced managed, Merrill Lynch balanced managed, Schroders balanced managed.Charges: Annual 0.64-1 per cent.Allocation rates: 100 per cent.Minimum term: […]

Alliance & Leicester – Extra Income Fund

Thursday, 8th February 2001.Type: Unit trust.Aim: Growth and income by investing in corporate bonds and other securities globally.Minimum investment: £3,000.Investment split: 100 per cent in corporate bonds and other securities globally.Isa link: Yes.Pep transfers: Yes.Charges: Initial – 4 per cent Pep transfers nil , annual 1 per cent.Commission: None.Tel: 0800 0686699.  

PIA expels Thorwell (Insurance Consultants)

The PIA is expelling Nuneaton-basedThorwell (Insurance Consultants). The firm is being expelled on the ground it is no longer fit to conduct investment business as it no longer meets the PIA&#39s financial resources requirement. Any cases identified by the PIA&#39s pensions unit as having resulted in loss will be passed to the Investors&#39 Compensation Scheme […]

Don&#39t give away ground in manoeuvring on polarisation

Many have interpreted Money Marketing&#39s remarks on the need for Aifa director general Paul Smee to take the gloves off as a call for a Garry Heath-style campaign. This was not our intention. It might have been better to suggest that, rather than abandon diplomacy, Smee needs to be less diplomatic, as much with product […]

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Preparing for the changes to the pensions market

As more and more providers start to reveal their stance on the charge cap and removal of commission and active member discount pricing, we thought it would be worthwhile to look at what these are, and the steps businesses should be taking to prepare for this.


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