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Investing time in pensions

What an extraordinary article from Lee Birkett from Prestbury.

He says most IFAs should stick to mortgages and general insurance which I would have thought were the absolute cripplers for the average good IFA. I gave up mortgages ages ago to concentrate on pensions and investments, which occupy most of my time, particularly the former.

Apparently, his network has 200 advisers turning over around 50,000 a year. I hope that does not mean what it says because that amounts to about 25 each. I presume it means 50,000 each.

I would have thought that was very much on the low side these days and difficult to see that this in itself would be viable.

Most people want imnvestment and pensions and the advent of pension simplification, which I call complification, has been an absolute godsend as people look at the internet, find that they cannot cope with it and come to me.

It has dramatically increased the number of drawdown and Sipp cases and I find that having a network of overseas contacts (I hold a passporting licence which makes it all legal) gives me lots of new business from expats which obviously have to be dealt with by a UK-registered IFA.

Where does Mr Birkett get his figure of “70 per cent of IFAs who do not need to be IFAs” from? I feel that this figure has been plucked out of the air without any research.

BGW Jamieson
Jamieson Financial Management
Bognor Regis, West Sussex

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