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Over half of IFAs fear depolarisation threat

More than half of IFAs fear FSA changes to polarisation will be either a very significant or significant threat to their businesses, according to a survey conducted by Orc International.

In an extensive survey of IFAs&#39 reaction to the regulator&#39s proposed changes to polarisation carried out exclusively for Money Marketing, 56 per cent say the result will damage their businesses.

The group showing most concern is single-outlet IFAs, 66 per cent of whom are worried about scrapping polarisation, followed by 53 per cent of network members expressing fears. Only 17 per cent of national IFAs working from a head office say the proposals are a cause for concern and 42 per cent say it is not at all significant.

But 44 per cent of national IFAs in branch offices are either very significantly or significantly concerned and so are 45 per cent of regional IFAs.

When broken down by income, 61 per cent of IFAs earning £50,000-£100,000 a year and 63 per cent of those on £100,000-£250,000 express significant fears about their future.

The numbers drop as earnings rise, with 45 per cent of advisers earning more than £250,000 a year having fears about the changes.

Roberts Clark director Ashley Clark says: “The results do not surprise me. As far as I am concerned, it is probably one of the biggest changes to the industry since the original Financial Services Act. It is a nightmare scenario. It is a threat to our business but only on the basis if we do not react to it.”

The survey was conducted in January after the publication of CP121, with 233 IFAs questioned.


Newton fund manager in car crash

Newton Income fund manager Robert Shelton was seriously ill in hospital this week, following a car crash on Friday. In a statement issued on Tuesday, Newton said: “We are all hoping that Robert makes a full and speedy recovery and obviously our thoughts are with him and his family at this time.”

Theatreshare – Theatreshare

Tuesday 26 February, 2002 Type: Enterprise investment scheme Aim: Growth by investing in the Really Useful Group of theatres Minimum investment: Lump sum £2,500 Opening-closing date: January 21, 2002-May 3, 2002 Charges: Implicit Commission: Initial up to 3% Tel: 020 7494 5200

Newcastle makes its mark

Newcastle Building Society has brought out a second issue of the capital safe bond, a guaranteed equity bond that is linked to the FTSE 100, Nikkei 225 and Eurostoxx 50 indices.The bond has a five-year term and to mark itself out from similar products, a loan back facility is offered. If investors need access to […]

Future signs up packagers

Non-conforming lender Future Mortgages is doing business through packagers for the first time to extend its distribution channels in a bid to increase its market share.It has selected six packagers, EM Financial, Midland and General Mortgages, National Guarantee, Oryen, Premier Mortgage Packagers and the Finance Centre. It will also continue to deal directly through IFAs […]

How QE is distorting the gilt market

By Mike Riddell The moves in gilts in August were truly exceptional. Volatility in the gilt market (based off 10-year gilt futures) has soared to close to the highest levels seen this millennium, on a par with the eurozone debt crisis of 2011/12 and behind only the global financial crisis of 2008/09. The first distortion […]


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