View more on these topics

Providers can give tech cash

Product providers will be allowed to give direct support, including cash, to help IFAs with technology for their businesses.

The rule change extends provision of reasonable indirect benefits to include information technology support.

Providers will be able offer IFAs cash or help towards developing software or computer facilities.

The provision will be at the FSA&#39s discretion and it will judge on a case-by-case basis what constitutes reasonable support.

Financial Technology Research Centre director Ian McKenna says: “This is a significant opportunity for providers to assist advisers in developing their businesses. It will be interesting to see which providers take advantage of this rule change and it will be a good indication of who is making a solid commitment to technology provision.”

Barclays Financial Planning commercial director Alan Keegan says: “It is a good thing for IFAs but it could send IFAs towards certain providers who will find it much easier to put business in their direction. What the industry needs is more access to platforms operated by multiple providers.”

Recommended

Tied sector faces equivalence

Banks and tied agents will have to disclose commission equivalence, according to the FSA&#39s menu proposals which were released last week. The move comes despite heavy lobbying by the tied sector, which was broadly reluctant to have to reveal how much it pays advisers. The FSA has identified five types of advisers and is determined […]

Friends sees menu at risk of failure

Friends Provident believe the long-awaited Menu is attempting to achieve too much. It believes the Menu is an improvement on the Defined Payment Scheme originally proposed by the FSA but thinks expectations are unreasonably high. Friends Provident director of marketing Graham Harvey says: “Using the Menu as a tool to help address product and provider […]

Axa IM appoints two new fixed-income fund managers

Axa Investment Managers has appointed Gareth Isaac and Jamie Grant as fund managers on its fixed-income team. Isaac, who joins from Newton Investment Management, will assume responsibility for running multi-currency and liquidity portfolios while Grant &#45 formerly with the Commonwealth Bank of Australia &#45 will focus on credit derivatives. Both will report to UK head […]

Nothing is free

I refer to recent correspondence on who pays for adding a five-year capital guarantee to a with-profits policy. To say policyholders do not pay as the cost comes out of the free assets is typical of the lack of transparency in with-profits. What this explanation fails to point out is the free assets come from […]

India: are further rate cuts on the horizon?

By Kunal Desai, head of Indian Equities, Neptune Kunal Desai, manager of the Neptune India Fund, discusses the key drivers of the Indian market’s outperformance and why he expects another rate cut, which will likely further support equities.  Read more here Important Information Investment risks The Neptune India Fund may have a high volatility rating […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com