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Jupiter not surprised by move away from AFA

Jupiter says it is not surprised the FSA appears to be having a change of heart over its Authorised Financial Adviser proposals, saying it allows IFAs to make a decision over the future in the cold light of day.

The fund manager says it now expects Aifa&#39s menu option for the remuneration of IFAs to adopted by the FSA in place of the Defined Payment system.

Joint managing director Steve Glynn says: “I was not surprised by the FSA move to do away with authorised adviser status. We welcome the proposal. It was clear that there needed to be a relaxation to ensure a more practical application of the FSA regulations in the market place.

"Independents can now sit down in the cold light of day and work out what will be the best thing for their business working from a commercial model not an inflexible piece of legislation.


Dobell moves in as Pegrum leaves M&G

M&G has appointed Tom Dobell as manager of its British opportunities fund, replacing Neil Pegrum who quit to join Insight Investment at HBOS last week.Following the departure of the high-profile Pegrum to Insight, where he becomes director of UK equities, M&G immediately filled the position internally with Dobell, the manager of its recovery fund.M&G says […]

Independent view

Do you remember the rather silly Tory “demon eyes” campaign against Tony Blair during the run-up to the 1997 general election?Well, at the time, I must say I thought it was a bit ridiculous, even desperate, of the Tories to have such a campaign but, having experienced five years of the Government as an IFA, […]

Northern manager appointed to Baillie Gifford

Fund manager Baillie Gifford has announced the appointment of a Melville Bucher as regional sales manager responsible for the North of England, the Midlands and the Isle of Man. Bucher will take control for developing and maintaining IFA relationships in those areas and will report to sales and marketing director Ken Edwards. He joins from […]

Folger says public should take on more annuity risk

The FSA is recommending that annuity providers should pass on more investment risk to consumers and take care not to overexpose themselves to guarantees they cannot afford.Speaking at the Pensions in Crisis conference in London, director (conduct of business standards) Michael Folger urged decumulation product providers to pass on some of the risk in annuity […]


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