Your very welcome leader article in Money Marketing of September 22 suggested that Fellows of the Personal Finance Society will be “grandfathered” as Chartered Financial Planners.It is important to make it very clear that there will be no grandfathering in the awarding of the Chartered Financial Planner title. All those who receive it will need to be qualified to degree level. It just happens that Fellows of the Personal Finance Society and some hundreds more members of the CII have already achieved the necessary qualification level of 290 credits, equivalent to about eight full AFPC units in addition to the FPC s they will be the first to be granted the title next year. I would just add that Chartered Financial Planner may never be abbreviated. The Privy Council instructed us that it must always be used in full. We will therefore take action against anyone who abbreviates the title. It would seem to me that this cuts the ground from under the suggested conflict with Certified Financial Planner, which, of course rests on the incorrect assumption that both Chartered Financial Planner and Certified Financial Planner are capable of being reduced to acronyms. John Ellis Group public affairs director, Chartered insurance Institute’ London
European smaller companies are an attractive asset class to own because of the much higher growth rates achieved by some smaller companies compared with their bigger rivals. This is my biased view as a fund manager in this asset class but a view which I am happy to back with my own savings. The marketing messages you keep hearing about undiscovered smaller companies offering higher rewards to stockpickers are true.
Three companies have managed to achieve our highest triple e rating for income drawdown products. Scottish Equitable, Scottish Widows and Skandia all scored significantly ahead of the competition when it came to delivering the services that our adviser panel indicated were most important. Having said this, it became apparent in the course of the research […]
At first sight, you may think it is madness to offer a house-price-linked plan at this stage in the housing market cycle. However, once you have got to grips with the concept and its potential uses, the new Abbey plan stacks up well. It has an investment term of 10 years and on maturity aims […]
The fact that we have such an array of multi-managers to choose from should be seen as an advantage for advisers but is it?
By Fiona Hanrahan, senior product insight and technical support analyst We’ve received lots of queries on scheme pays and when it can be used. This article explains how it works and the conditions which apply. What is ‘scheme pays’? If an individual exceeds the annual allowance (AA) and an AA tax charge is due, they […]
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Another investment manager offering enterprise investment schemes has alerted clients of a 10 per cent drop in value for one of its portfolios following new Mifid rules. Mifid II, which came into force on 3 January, requires firms to notify clients when the overall value of their portfolio, relative to its value at the beginning of each reporting […]
The recent enquiry by the work and pensions select committee has reignited the debate about the future of collective defined contribution schemes. Whether these sort of schemes can be incorporated into the current UK pensions landscape is a moot point. Let’s consider some of the arguments for and against CDC. First of all, it is […]
Retirement interest-only mortgages are set to become more popular following the FCA removing hurdles to selling them. The regulator sees RIO mortgages as a possible aid to the waves of maturing interest-only loans with no repayment strategy. However, the FCA also wants RIO mortgages to be sold more widely, for example as an additional option […]