View more on these topics

‘PFS misses wrap point’

The Personal Finance Society’s wrap questionnaire has been criticised by IFAs who feel it neglected to include the main reason for using platforms.

The PFS is researching how and why wraps are being used. But one adviser says by not including “the ability to del-iver superior investment planning advice’ as a potential reason for using wraps, the PFS had bypassed the most important point.

Patersons principal Stan Kirk says: “It is very curious that one of the questions, ‘Reasons for using wrap’, does not mention the single most compelling reason of all – the ability to deliver a superior investment proposition. I would defy any IFA firm to be able to consistently and economically deliver holistic asset allocation, unfettered manager selection for each asset class and rebalancing when necessary across all tax wrappers without a wrap platform.”

But PFS public affairs director John Ellis says: “We did not want to lead the questions. There is an opportunity for advisers to include other reasons if they see fit.

“The whole object of the FSA’s investment retail review is to determine potential impact for consumers. This questionnaire is only a very small part of the project just to establish the facts.”

Recommended

Striding hedge

Funds of hedge funds will start to creep on to the retail investment radar, following the FSA’s decision to relax its ruling on the maximum amount a fund can invest in unregulated collective schemes, but I am sure most investors will be reaching for the Valium at the thought of putting their money into hedge funds.

‘Competition adds to confusion on CI’

Bright Grey has warned against protection providers racing each other to cover the most conditions under their critical-illness policies.

Firms use net to find out more about prospective employees

Employers are increasingly using internet networking sites to find out more about their prospective employees, according to Poolia.com.The recruitment consult-ancy found that 66 per cent of clients regularly carried out internet searches on prospective candidates to help determine their suitability.But Recruitment and Employment Confederation director of external relations Tom Hadley says: “Taking into account a […]

The investment clock

While Trump blazes blond in the political foreground, it’s easy to overlook the economic background to the new political dimension of 2017. Political risk will be a feature of the year: the unpredictable and untested Trump administration has already created uncertainty, which is unlikely to diminish, especially if protectionist rhetoric starts to outweigh promises of […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment