IFAs are losing out to tied agents in the Isa sales stakes, according to latest figures from the Association of Unit Trusts and Investment Funds.
The figures show that tied sales forces were responsible for 68 per cent of Isas sales recorded in April, with IFAs languishing on just 15.5 per cent.
Tied agents share of the Pep market averaged 30 per cent while IFAs averaged 46 per cent of the market.
Gross sales for Isas invested in unit trusts and Oeics reached £556m in April.
National Savings says it has already received thousands of inquiries about its new two year pensioners guaranteed income bond.The bond goes on sale on 2 June.National Savings chief executive Peter Bureau says:”We are delighted to be able to offer savers more choice in the way they want to save.”
Stockbroker Walker Crips Weddle Beck has launched a maxi-Isa fund specialising in technology stocks.Investments into the WCWB High Tech Maxi Isa are split into three established technological funds. These are SG Asset Management, Aberdeen Asset Management and Framlington Investment Management.The three funds are the SocGen Technology, Aberdeen Technology and Framlington NetNet.WCWB charges investors a £15 […]
The PIA Ombudsman has warned that many free standing additional voluntary contributions are still being missold.In its fifth annual report, the ombudsman says there is continuing confusion over how FSAVCs should be sold. It says that its evidence suggests PIA guidelines are being overlooked or even ignored.And it says it has been receiving a significant […]
Glasgow Investment Managers Shires Income trust has posted a return on net assets of 8.5 per cent with a proposed final dividend of 5.4p in 12 months to March.This brings the total divident over 12 months to 17.5p. The assets now total £164m.
The insurer UNUM has just published a new report on The Future of Employee Benefits, which makes an interesting read for anyone considering reshaping their existing remuneration package.
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Why it’s time to reconsider structured products
HMRC is clamping down on remuneration schemes designed to avoid income tax and National Insurance You may have seen a bit in the financial news lately on the loan charge tax to be levied on payments received by employees through disguised remuneration schemes used to avoid income tax and National Insurance contributions. Those involved will […]
The FCA has drawn a blank on providing an estimate of the level of so-called “phoenixing” by financial advice firms. Phoenixing is the term used to describe the practice where directors of advice firms with impending complaints wind the firm down, so do not pay out on the claims, which then have to be handled […]