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Half of IFAs back trail cash

The September Aifa survey on trail commission has found 51 per cent of IFAs believe trail commission should be received even if there is no evidence of ongoing service. Meanwhile, 39 per cent of the 374 respondents believe it shouldn&#39t. The survey was undertaken in light of the Treasury Select Committee&#39s report on long-term savings. The survey found 94 per cent of respondents receive trail commission and 55 per cent of these receive between 10 and 20 per cent of their income from it.

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Letters Extra

It is revealing that the report in Money Marketing (September 23) on Witan Investment Trust should cite the reason for IFA concern at Witan Investment Trust&#39s choice of managers as being “unknown in the UK retail market.” It seems strange that the primary factor in choosinga fund manager to look after a client&#39s money should […]

ScotEq shelves plan to ditch price pledge

IFAs have won a battle with Scottish Equitable over protection product real-time pricing guarantees after ScotEq threatened to introduce immediate price changes. ScotEq told IFAs in September that it intended to impose real-time pricing on e-submissions for protection policies but without a guarantee that these prices would remain valid for a set period. The move […]

Fast-track approval process from First4Brokers for ARs

First4Brokers is launching a fast-track approval process for broker firms of any size. With the creation of this process, F4B says it will confirm within 48 hours whether a due diligence process is required for the firm. Following completion of the full application form, F4B will then undertake the due diligence procedure and give full […]

Malone says TCF move will hit fees

The FSA&#39s initiative on Treating Customers Fairly will have a greater effect on the mortgage industry than the onset of mortgage regulation and will reduce procuration fees for mortgage advisers, says Premier Mortgage Services managing director John Malone. Speaking at Money Marketing Live in Manchester on Tuesday in a debate about mortgage regulation, Malone said […]

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