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.
By George Boyd-Bowman, Fund Manager at Neptune The Neptune Global Income Fund seeks exposure to the very best – and often overlooked – income opportunities from across the world. Unconstrained by benchmarks, the fund currently has 24 per cent invested in Japan, differentiating the high conviction portfolio from many of its peers. Watch Neptune Fund […]
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O&M Pension Solutions has changed its systems ahead of an October deadline to help advisers meet new regulations around transfer value analysis reports. From 1 October, the FCA’s new rules mean transfer value analysis reports will be replaced by a combination of a “transfer value comparator” and an “appropriate pension transfer analysis” The transfer value comparator is […]
deVere Group’s subsidiary UK Workplace Solutions has had regulatory approval to acquire WPS Advisory, which used to trade as Priscum Direct. UK Workplace Solutions was granted the approval notice from the FCA and will merge WPS under its own brand. deVere Group chief executive Nigel Green says WPS Advisory will focus on people facing “tough […]
If you agree with the premise that funds with high charges generally underperform those with low charges, then you must also agree a portfolio that accrues high costs will generally underperform one with lower costs. And if you accept this, the obvious conclusion is to hack away anything that increases that cost. Switching from higher-priced […]