Hargreaves Lansdowne has the most efficient sales force in terms of turnover per adviser, according to a report from Datamonitor. The report, which also reveals that in 2003, 15 per cent of turnover in the total IFA market came from IFA firms which were part of the Sesame network, says IFAs will retain their supremacy in the life and pensions market come depolarisation. Datamonitor predicts that new business through multi-tied financial advisers will increase from 13 per cent to 46 per cent of the former IFA market but says that banks will not challenge the dominance of IFAs.
With less than two weeks to go before the onset of mortgage regulation, concerns are surfacing about the considerable number of mortgage brokers yet to be accounted for by the FSA. Recent figures released by the FSA show that it had received 3,995 applications for direct authorisation and 2,917 applications for variation of permission for […]
ARLINGTON PROPERTY INVESTORS Arlington UK Balanced Property Fund Type: Oeic Aim: Income and growth by investing in UK commercial property Minimum investment: Lump sum £90,000 Investment split: 26% offices, 23% retail shops, 24% industrial, 27% leisure Place of registration: Dublin Charges: Initial up to 2%, annual 1.25% Commission: Subject to negotiation Tel: 0141 306 7600 […]
Asset managers could rep-lace annual management charges with performance fees as a trade-off for access to multi-ties, says Investec managing director Andy Sowerby. Sowerby, joint MD of Investec Fund Managers, says firms are almost ready to make the switch to performance fees. Hedge fund managers are frequently remunerated based on performance. It is only since […]
Scottish Provident has made a U-turn on a critical-illness policy after it originally refused to pay out following an admin blunder. Rodney Neil Financial Services partner Rodney Neil says ScotProv refused to pay out when a client was diagnosed with multiple sclerosis, claiming there had been non-disclosure of a pre-existing condition. Now the insurer has […]
Royal London commissioned Opinium to run our State of the Protection Nation research to find out how people felt about their own protection needs and the industry as a whole.
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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 […]