View more on these topics

IFAs plan to multi-tie

Almost half of the LIA&#39s IFA membership plan to take the multi-tied route following the shake-up of distribution after Sandler and CP121.

A survey of the association&#39s IFA membership reveals 57 per cent will move away from being independent and 70 per cent of those will opt for the multi-tied option in a depolarised world. This means 40 per cent of LIA IFAs say they will become multi-tied.

Among the rest of the advisers who said they would move away from the IFA sector, opinions were divided as to what status they would adopt. Answers included becoming Authorised Financial Advisers, selling their businesses, retiring and trying to fight the changes.

The LIA has around 25,000 members, 13,000 of which are IFAs while the rest are direct salesmen. The survey was a representative sample of this number, with 1,500 responding to the survey during August.

Head of public affairs John Ellis says: “It was a surprising clear-cut vote of no confidence in the Sandler approach. It demonstrates the fears that IFAs have in their abilities to continue running their businesses if Sandler&#39s proposals get implemented.”


M&G appoints new head of equity

M&G has appointed David Jane as head of equity investment to replace Vivian Bazalgette, who is retiring. Jane, who was previously M&G&#39s head of investment process, takes over the role this week in a move which will also see Hak Salih – deputy of its capital fund – take over as lead manager from Bazalgette.Jane […]

Zurich to cut 4,500 jobs

Zurich Financial Services Group announced it is to cut 4,500 jobs as it reports its half year results. It says this is part of major strategic and operational initiatives to sharpen its strategic focus, by concentrating on core insurance markets in the US, UK and Europe, improve operational efficiency, strengthen its balance sheet and improve […]

Women losing out on pensions, say LibDems

At least 4.5m women have no basic state pension rights despite having paid £8bn in National Insurance contributions according to Liberal Democrat work and pensions spokesman Steve Webb. He is calling on the Government to launch an immediate inquiry into this “misselling” of pensions and allow women to buy-back the NI contributions they did not […]

Morley appoints investment sales head

Morley Fund Management has appointed Charles Hoblyn as head of UK investment sales to head up the team responsible for the sales of investment funds to the discretionary market. He will report to head of UK retail Alan Gadd and manage the development of further distribution channels for Morley linked products. Hoblyn joins from Meinl […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment