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Julian Gibbs

BMC Profiles of Shrewsbury has introduced what I believe to be much

the best value financial planning service available.It enables IFAs

to produce financial plan-ning reports that are appealing, easy to

understand and graphically translate to the client his or her

financial needs and, most important of all, motivate them to take


Profiles is a version of what is now probably the world&#39s most widely

used financial planning software for advisers. It has already been

tested on some UK IFAs.

For example, Clive Boosey of Sterling Financial Planning says: “I

must say, it is really rather good. Actually, it seems to make

difficult scenarios easy to understand, which is no mean feat. Unlike

some of the other packages I tried, it does not require hours of data

input, which is a welcome change. I think this will be a powerful

tool for our practice and not that expensive either.”

It costs around £1,000 per user each year. In the US, it is used

by many major companies including Merrill Lynch, Axa Group and

Metropolitan Life, as well as by a host of small broker agents. which

are similar to IFAs in this country.

The US experience is that it saves a huge amount of time for IFAs.

New users of Profiles increased their income by an average of 41 per

cent in the first year.

For those IFAs taking the fee-based route, most charge an average

basic fee of £850 for a Profile consultation and hourly rates of

£100 to £150 thereafter.

I find BMC&#39s presentation highly professional and impressive. Most

clients will love it and, more important, do business.


Packaging protection

For months, it has been well nigh impossible to have a conversationwith anyone about group income protection without the subject ofpensions and ill health early retirement rearing its head.The basic storyline is convincing enough. In the good old days of the20th Century, when stockmarkets used to rise, most defined-benefitpensionschemes enjoyed the luxury of boasting investment […]

Morley offers property fund

Aviva subsidiary Morley Fund Management is offering a highincome property fund.The Morley high-income property unit trust will be available fromMarch and minimum investment is £10,000. The fund will invest ina mix of direct commercial property and propertyrelated corporatebonds.Morley says it is taking a medium-term view of the commercialproperty market and adopting a diversified investment portfoliowhich […]

Leeds & Holbeck Building Society – Secure Growth Account

Friday, 21 February 2003 Type: Guaranteed equity bond Aim: Growth linked to performance of FTSE 100 index Minimum-maximum investment: £3,000-£9,000 Term: Six years Guarantee: Capital returned in full along with 10% growth regardless of the performance of the index Return: Up to 60% at end of term Closing date: Until further notice Commission: None Tel: […]

AMP offers active and passive choices

AMP has extended its fund range to included eight Barclay Global Investors passively managed funds for corporate pensions. The funds offer access to a selection of world indices, with trackers for both equities and bonds. These will compliment existing actively managed Henderson funds and other external fund links. The company now claims to be able […]

Who cares?

By Tracey Dickson, marketing consultant There are almost 7 million carers in the UK – that’s around 10 per cent of the population who provide unpaid care for a disabled, seriously ill or older loved one.1 But according to a report from the charity Carers UK, 20 per cent of people providing 50 hours or more of care […]


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