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IFAs give polarisation overwhelming backing

IFAs have overwhelmingly given their backing to the current polarisation regime, acc ording to a survey by IFA the Lighthouse Group.

Its research found that 98 per cent of IFAs believe the Government&#39s plans to relax polarisation will cause confusion and clients will not rec eive appropriate advice.

The survey questioned 160 IFAs in England and Wales during November and Decem ber. The results suggest chan ges to polarisation could not have come at a worse time with 96 per cent of IFAs rep orting a growth in demand for independent advice within the last five years.

The IFA sector is unhappy with the Government over proposed changes to polarisation, believing it will create more red tape. Eighty-nine per cent of IFAs estimate administration and compliance takes more than a third of their time at the moment and 78 per cent say they feel “bogged down” with that aspect of their business.

Looking at competition in the personal finance sector, the research says 84 per cent of IFAs are unconcerned about competition from fund supermarkets as they believe their products are bought as part of a complete package. But 90 per cent say they must focus on adding value through advice as many basic products become cheaper and easily available through other channels.

Lighthouse sales and marketing director Nick Hamson says: “If the polarisation proposals were shelved for one year, the picture would then become clearer and therefore a more informed decision could be made.”


Royal Skandia targets corporate market

Royal Skandia is revamping its capital redemption bonds to win more business from the corporate and trustee markets. The collective redemptive bond has access to a range of internal multi-manager funds as well as other collective investment funds. Using the collective bond Royal Skandia hopes to beef up its presence in the UK. The executive […]

Exclusive Connections launches 4.99 per cent capped rate

Mortgage packager Exclusive Connections has launched a 4.99 per cent capped rate until Feb 1, 2002. The product, funded by Bristol & West, will revert to a discounted rate of 1.25 per cent of its Standard Variable Rate until February 1, 2003. Its current SVR is 7.74 per cent. Exclusive Connections marketing director Patrick Day […]

Aifa urges extreme care on advice

Aifa has issued an urgent statement alerting its members to take extreme care when advising Equitable Life clients of their options. As part of its newsflash bulletin service, it has emailed members, warning: “We do not believe that anybody is currently in a position to give clear guidance in such a sensitive and complex situation.” […]

Close Plays FTSE

Close Plays FTSEClose Fund Management FTSE Euro eTX FundType: Oeic.Aim: Growth by tracking the FTSE eTX Euro 50 index.Minimum investment: Monthly £100, lump sum £1,000.Investment split: 35 per cent computer services, 34 per cent computer software, 11 per cent semi-conductors, 8 per cent internet, 6 per cent telecommunications equipment, 4 per cent computer hardware, 2 […]

Large-cap growth alpha thesis: seeking risk-adjusted excess returns

Content supplied by Loomis, Sayles & Company — an affiliate of Natixis Global Asset Management For mutual fund investors and managers of large pensions or endowments, a major challenge is to identify those portfolio managers who are most likely to deliver superior risk-adjusted returns in the future. Understanding how an investment philosophy informs a manager’s decision […]


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