View more on these topics

Misys sets the trend as commission is slashed

Super-network Misys is gearing up to pass on cuts of up to two-thirds in

pension commission to its members as stakeholder rocks the sector.

As the biggest IFA grouping in the country with 4,000 registered

individuals, Misys is increasingly regarded as a trend-setter for the whole


It says the cuts will initially affect stakeholder-friendly products but

believes the change will hit all pension products and then all other

products sold by IFAs.

But the group is fighting to secure better deals by lobbying 20 life

offices for better terms. It has met with some success as some providers

are offering cuts of 40 or 50 per cent rather than two-thirds.

The expected two-thirds reduction to 50 per cent of Lautro rates or its

equivalent will be gradual, with the first announcements expected in the

third quarter of this year. Present commission is typically 130 per cent.

Misys, which plans further expansion next year, is making the final

judgements on its stakeholder panel which is expected to include six

pension offices.

Misys IFA services sales and marketing director Max Wright says: “There

will be a gradual reduction in commission for the stakeholder world and we

want to help IFAs compete in that world. We are facing a hard slog to get

consumers to realise the value of advice.”


Pass the portfolio with Autif and AITC courses

Autif and the AITC are joining forces to launch a course to help IFAsmanage investment portfolios.The course aims to enhance practical skills in planning, managing andmonitoring investment portfolios.A pilot course is being held on April 11 and there are plans to run aseries of courses from June across the UK.Autif says many IFAs have a […]

We have uplift off

Last week, I looked at some of the anti-avoidance provisions announced inthis year&#39s Budget. I will now continue the theme by considering some moreproposals which are directed at the use of non-resident trusts to avoid ordefer UK taxation.The first proposal which I will review is that relating to beneficialinterests in trusts moving abroad.Special capital gains […]

Euro funds talking telephone numbers

European funds have been flying in the last six months and it is helpingthe likes of Invesco and Gartmore to boost sales in the run-up to the endof the tax year.The Invesco European growth fund has swelled to more than £3bn from £250min the last two years and is the main reason why the company […]

Borrowers call for increase in lending ratios

An increasing number of mortgage borrowers are demanding higher loan tovalue ratios, according to research by The Mortgage Business.Just over a third of the brokers who were questioned in the surveycommissioned by the Bank of Scot- land-owned firm responded that theirclients want bigger loans and smaller deposits.TMB says this is potentially a great cause for […]


News and expert analysis straight to your inbox

Sign up


    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