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‘Multi-tie firms will have to go whole of market for survival’

Ernst & Young insurance leader Shaun Crawford says any multi-tie organisations will have to seriously consider moving to a whole of market offering if their businesses are to survive.

He says any multi-ties considering flotation could suffer from the effects of the retail distribution review as their entire distribution model will need a rethink.

Crawford says: “It is quite clear that organisations such as Thinc, Intrinsic and Openwork will have to now be thinking about their overall strategy and introducing a whole of market offering.

“They will also have to review their platform propositions, simplifying the offering in order for less-qualified advisers to use them effectively. If the FSA goes ahead with this, and it looks as though it will, then multi-tied advice models will take a real kicking.”

Crawford says in order to meet the regulator’s proposed requirements, advisers must be diploma-qualified or equivalent and he suggests that many multitied advisers might have to undertake a long period of additional training to reach this level.


Cash in on volatility

Too many people have nearly all their money on deposit with banks and building societies. It is sensible to keep an emergency fund in cash but equities have shown the best returns over the medium to long term if run by the top managers.

A wake-up call on Omo

Annuity providers have been given until December to improve consumer correspondence on the open market option after the FSA found that much of it fails to meet regulatory standards.

Naming a reward programme

Six tips to get your reward programme name right

by Debra Corey, group reward director  Choosing a name isn’t easy. Whether it’s for your new puppy, a bundle of joy or your reward programme, a name determines a first impression – and often a lasting memory. When it comes to your reward programme, the name will determine how your employees feel about it even before […]


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