View more on these topics

Letter to the editor: IFAs aren’t fund pickers

Dear Sir,

Given that a large percentage of active fund managers (with all the resources available to them) struggle to beat their respective benchmarks, what makes IFAs think they can do any better?
The reason I ask this question is that having recently attended a PFS minds-stretchers event, I was astonished to note just how many of my fellow diners thought that they could do just that. 
Now I don’t doubt that some of those I met that evening are very well meaning but investment professionals they are not. 

Sadly I couldn’t help but get the feeling that their investment propositions were more about justifying their annual ‘advice fee’ than they were about providing a sound and robust investment service. 

RDR is raising many questions but perhaps one that is at the forefront of many advisers minds is ‘what is it that I actually do to justify my annual advice fee?’. It would appear from my recent observations that this is a question many of my peers are finding difficult to answer.    

Simon Torry

SRC Financial Services Limited


FSA finalises new Libor rules

The FSA has finalised new rules to regulate Libor and other financial benchmarks in the wake of last year’s rate rigging scandal. Libor will be regulated from 1 April when the Financial Conduct Authority comes into force. Under the final rules, published today, the Libor administrator will need to corroborate submissions and monitor suspicious activity. […]


Santander cuts 724 jobs as it pulls out of investment advice

Santander has confirmed it has pulled out of investment advice but has set up a “financial planning” arm of 150 staff to deal with existing customers resulting in the loss of 724 jobs, Money Marketing can reveal. The bank has completed the strategic review it began in December when Money Marketing revealed it suspended all […]

Govt aligns tax treatment of onshore and offshore bonds

The Government plans to change the tax treatment of “chargeable gains” on onshore bonds to bring them in line with offshore bonds. Under current rules investment gains on onshore and offshore bonds are treated differently when an investor moves out of the UK. For an offshore bond the proportion of any investment gain that is […]

All Cazenove fund managers to join Schroders

The full line-up of Cazenove Capital’s managers and their funds will move over to Schroders as part of the planned acquisition of the asset manager. This morning, the boards of the two companies announced that they have reached an agreement for Schroders to buy Cazenove for about £424m. The deal is subject to shareholder and […]


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. Just because you feel unable or unqualified and just because there may well be some who make a mess of it, it certainly does not follow that we are all numpties when coming to investment advice.

    Annual valuations compared to indices and APCIMS keeps you honest and if you feel that your performance holds its head up and that clients are also satisfied, then I guess in spite of your unctuous comments, some of us actually know what we are about.

    Comparing us to fund managers merely illustrates your lack of grasp. We are not wedded to individual fund managers of sectors. We are able to pick and choose and some in fact do quite nicely. We are able to place as many finds in a portfolio as may be warranted. True if you only have 4 funds in a £00k investment you are putting a lot of faith in those managers. Anyway what a lot forget is that at the bottom line it isn’t about funds or sectors it’s about companies, volatility and turnover. After all equity investing isn’t amorphous – it’s all about investing in decent firms, with good prospects and if appropriate decent dividends. That they are packaged up doesn’t mean you don’t look or consider. The acid test is how you manage your own money. Investing on your own behalf is a great object lesson.

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm