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News from PIMS 99 – FSA gives seal of approval to IFAs switching to fee based advice


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 &#34healthy development&#34 and that IFAs should be offering their clients fee-based options.

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Timms leaves stakeholder door open for IFAs

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 […]

News from PIMS 99 – National IFAs set to dominate

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 […]

OFT sound death knell for commission based IFAs

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 […]

Morgan Grenfell name dropped by Deutsche Bank

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.

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