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“Multi-ties will limit consumer choice” – LIA

The LIA says allowing gap-filling may benefit consumers, but the creation of multi-tie firms will limit consumer choice to an unacceptable level. In its response to the FSA&#39s CP121 released this week, the professional body accuses the FSA of intervening anti-competitively to prevent IFAs from doing business solely on commission. It says a more reasonable outcome would be to allow consumers to decide how they want to pay their adviser. The LIA says it is not necessary for one channel to fail for another to prosper, and says the FSA&#39s proposals appear to be heading in this direction.

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Gartmore set to offer fund of hedge funds

Gartmore is setting up a fund of hedge funds product and seeking to recruit up to 10 fund managers over the coming year as part of its European expansion plans.Chief executive Glyn Jones says he is aiming for Gartmore to become the leading player in hedge funds and believes a fund of funds offering will […]

Investment fund and Isa press ads plummet by 40%

Investment fund and Isa advertising in the press plummeted in line with sales over the first quarter of 2002, down by 41 per cent on the same period last year.Total press advertising on investment funds between January 1 and April 4, 2002 fell to £53.3m from £90.72m last year, according to advertising monitors Thomson Intermedia.Legal […]

Skandia first with reregistration

I read with interest that Fidelity is the second company to be offering IFAs reregistration facilities on its platform.I am not so sure it is second. Skandia has been offering reregistration facilities (on our MultiFund product) for the past three years. Surely Fidelity and Cofunds are fighting over the second and third spots?So, why have […]

SLI picks new global team chief

Standard Life Investments has appointed Rod Paris to head its global bond team, triggering the departure of highly regarded UK fixed-interest manager Will Hay.The changes follow a disagreement about strategy, with the board wanting to put more emphasis on global rather than UK fixed interest.Paris is currently managing director and head of global fixed income […]

Flexible reversionary trusts and estate planning

The suitability of different estate planning solutions will depend on the individual’s own circumstances, needs and objectives. When considering the different solutions available there is a trade-off between inheritance tax (IHT) efficiency and access. Overall a flexible reversionary trust provides a greater level of flexibility than a discounted gift trust and can offer individuals a […]

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