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Hogarth says Sandler offers chance for new recruits to gain experience

IFAs should use depolarisation as a chance to recruit fresh blood into the business, says Bankhall joint chief executive Paul Hogarth.

He told the Sway conference in Monaco last week that depolarisation will present the perfect chance for new advisers to be recruited.

He believes new business models being presented by the change could help the industry to open to graduates.

Hogarth suggests that firms should have two arms to their business – an IFA and a multi-tied division.He thinks that firms should sell more mortgages and general insurance products as well as using the new Sandler stakeholder products which have a simplified sales process.

He believes that prospective advisers could sell Sandler products and advise on multi-tied business as they work their way up to becoming IFAs.

Hogarth says: “We are coming to a stage where one size does not fit all. For as long as I can remember, the number of IFAs working in the UK has not changed. You always hear IFAs complain that they cannot get any new talent. Well, we now have a chance to open the door and get new blood into the industry. We can get someone on board and get them selling straight away and there would be very little time when they are not working.

“Start by giving them a limited range, give them the Sandler products. Give them a chance to know the products. It is an opportunity to recruit good new staff.”


Ex-LIA presidents in secret summit

A secret crisis meeting took place on Tuesday between the LIA and former presidents who are unhappy with details of the merger with Sofa. Past presidents at the meeting at the RAC Club in London were Andy Bedford, Gavin Tisshaw, Peter Sprung, Len Warwick, Mike Bousfield, Tony Gordon, Christine Leach, Mike Clarke and Brendan Glennon. […]

Thrive on technology

The survival of financial advisory firms is likely to depend on the degree to which they embrace technology. Technology can increase productivity and profits for advisers and help advisers meet increasing regulatory demands. Advisers should use technology to help with the whole financial planning process,from the initial disclosure of services to fact-find, through sale and […]

Networks start to receive part 4 full authorisation from FSA

The following networks have received their part IV, full authorisation from the FSA in readiness for mortgage and general insurance regulation: BDS Mortgage GroupCartelComplete Mortgage & Loan ServicesGenesisLifelink ServicesMGM Home FinanceMortgage NextMortgage PlcPlatformPrestbury HoldingsProfessional Mortgage Partnerships NetworkTrustguard

&#39£8bn in underperforming funds&#39

Hargreaves Lansdown has highlighted underperform-ance of Scottish Equitable pension funds in a wide-ranging review of the sector. The report, Income-reducing Pension Funds, covers managed and UK equity funds. It reveals that two Scottish Equitable funds – the UK equities pension fund and the mixed pension fund – measured over one, three, five and 10 years […]

Japan Economic Insight

James Dowey, Chief Economist, and Paul Caruana-Galizia, Economist

The conventional wisdom is that following a roughly 50 per cent rise in the stock market in 2013 in Yen terms, the Japan trade is over and done*. So the story goes, those big gains were due to a one-off boost from quantitative easing (QE) and a depreciation of the Yen — policies that one should think of as a palliative to Japan’s economic weakness, but not a cure. Rather the cure, and by implication the necessary condition for a longer-term investment case, is deep structural reforms — a painstaking re-weaving of Japan’s economic and social fabric, no less. The story continues: this is a much tougher test than launching a blast of QE, and one that prime minister Shinzo Abe, although well intentioned and well supported by the public thus far, is likely to fail. Stick a fork in Japan, it’s done…continue reading


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