View more on these topics

PIMS: Trail will cease by 2016

Tim Sargisson: ‘Already seeing instances where trail is being cancelled’

IFG Financial Services says all trail payments to advisers will be switched off by the beginning of 2016.

Speaking at PIMS on board the Aurora last week, chief executive Tim Sargisson said the firm has told its advisers to start planning for life without trail within three years of RDR implementation.

Sargisson said: “We think trail will be a thing of the past and when we were putting together our post-RDR plans we said we thought it would be finished within three years from the beginning of 2013.”

Sargisson said this time frame is still likely, but it is not clear whether the end of trail will come as a result of providers switching the payments off or whether the Financial Conduct Authority will force the move.

Sargisson said: “there is no certainty over whether the regulator will force providers’ hands or whether providers will just start to switch it off although we have already begun to see instances where certain trail is being cancelled.

“Another issue arising from the trail is whether or not providers will retain that payments if they are not going back to the adviser or whether they are going to pass them back to the customer.”

Sargisson added advisers will be under more pressure not to take trail payments if clients became more aware that the payments exist.



Multi-manager view: Eurozone equities look vulnerable

The European crisis of 2011/12 was a crisis of convertibility. Fears that the euro was a reversible experiment as opposed to an irreversible union meant that there was capital flight from peripheral Europe into ‘core’ countries. A deposit at a German bank, or a German bond, turned into a cheap option on eurozone break-up because […]


Lloyds sells further 15% stake in SJP

Lloyds Banking Group is selling a 15 per cent stake in St James Place for £500m in a bid to improve its capital position. Lloyds sold a 20 per cent stake in the firm March and agreed a 365 day “lock in” period when it could sell no more shares but advisers Merrill Lynch has […]


Intrinsic sets aside £2m for complaints as profits rocket

Intrinsic Financial Services has set aside over £2m for expected complaints settlements in its 2012 accounts as the adviser network reported a 62 per cent profit increase. Intrinsic’s 2012 accounts, published last week, show profit before interest, tax depreciation and amortisation increased from £3.2m in 2011 to £5.2m in 2012. The number of advisers at […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm