The Financial Services Authority has given a public seal of approval to the increasing numbers of IFAs switching to fee-based financial advice. The PIMS conference heard FSA director of investment business Michael Folger say he believed the increasing volume of fee-based business being done by IFAs is a "healthy development" and that IFAs should be offering their clients fee-based options.
Pensions minister Stephen Timms has left the door open for IFAs selling stakeholder despite capping charges at 1 per cent per annum. Timms says saying clients in existing pension schemes must get advice before they can move into stakeholders opening a clear market up for IFAs.And he admits it could be paid for by an […]
National IFAs are set to dominate the financial services marketplace according to KPMG Corporate Finance partner John Riddell.In his PIMS presentation Riddell predicted that networks will aim to set up their own national broking houses, while new national will be formed by aggressive, fast growing IFA firms and regional players seeking to grow their businesses […]
The Office of Fair Trading will sound the death knell for commission based independent financial advice in its long awaited report on polarisation.Money Marketing can reveal the report will accuse commission remunerated advisers of offering biased advice and is calling for only advisers who are 100 per cent fee-based to be allowed to call themselves […]
Deutsche Bank has ditched the name Morgan Grenfell from its asset management business.The fund managers will now be called Deutsche Asset Management or DAM.Morgan Grenfell the merchant bank was originally bought by the German bank in 1989 and was subsequently renamed Deutsche Morgan Grenfell.
By Douglas Turnbull, head of Chinese Equities, Neptune The 19th Party Congress is coming up late in 2017. During years of bears waiting for China’s challenges to turn critical, policymakers in Beijing have made meaningful steps to address them, and we believe will continue to do so. Even as growth is slowing, it is rebalancing […]
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Online wealth managers have struggled to enter the UK auto-enrolment market because of high costs and legislation and are now looking elsewhere for opportunities. Moneyfarm chief financial officer Paolo Savini Nicci tells Money Marketing the firm has no plans to get involved in auto-enrolment, because of a “crowded” marketplace, relatively low account values and high costs. […]
In recent months, providers have reassessed their plans on offering guaranteed drawdown products
The DFP Wealth Management IFA on the desperate need for a new generation of advisers and existing firms’ role in helping them in