View more on these topics

Minister is the one who needs advice

I was very interested and somewhat concerned to read the story of Melanie Johnson&#39s comment about stakeholder clients not needing advice (Money Marketing, March 22).

The kindest thing I can say is she did not receive advice before saying it. Presumably, she believes all stakeholder provi-ders are the same, that all funds are equal and if the client wishes to invest in an ethical or socially responsible fund they are all the same?

Does she not realise that, apart from helping clients choose the best or most appropriate fund to suit their needs, IFAs also provide a much-needed check on performance by product providers?

This does not only mean fund performance but also administration. Product providers also use IFAs for market research, which is a very valuable exercise for them to remain competitive.

My clients rely on me to advise them and will, no doubt, seek my advice on whether to start a stakeholder plan. There will not be any income for me to provide this but over the years the commission from business I do for them will cover it.

I wonder if we can run a competition for IFA readers of MM for the best example of doing away with people no longer thought necessary. Can I start with MPs (including ministers)? We can always enter their known reactions to any sit-uation because it has happened before. So we can just have a computer program as our Government – the mind boggles.

Derek Vivian

The Ethical Partnership, Whyteleafe, Surrey

Recommended

Clerical demands clear disclosure of white-labelling

Clerical Medical is calling on the FSA to bring in a tough disclosure regime if white-labelling is introduced under phase two of the polarisation review later this year.Research carried out by the life office shows consumers are in favour of full and clear disclosure of product providers if white-labellingis introduced.Ninety-four per cent of those surveyed […]

Norwich & Peterborough mortgage lending falls

Mortgage lending by Norwich & Peterborough Building Society fell by 32 per cent to £304m in 2000 from £447m in 1999.But Norwich & Peterborough increased profits by 1 per cent to £17.9m from £17.7m over the same period.Norwich & Peterborough chief executive Matthew Bullock says: “We decided not to join the number of lenders who […]

Act puts a ceiling on liabilities

If you can be caught decades into the future by latent damages, you need to consider damage limitation as an exercise.All network contracts have clauses passing on liability for damages usually without time limitation. A latent damage can come back to haunt you decades into the future. The solution to the problem is insurance. But […]

Multi-manager online service from Keydata

Fund research firm Keydata is setting up a multi-manager investment fund service for IFAs to rival existing services such as Skandia&#39s multi-fund range.The service, which is in the early stages of planning, could be running by the summer and will offer both online and offline trading facilities for IFAs.It will offer a range of multi-manager […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment