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Pru polarises views

Prudential has shown its hand on its multi-tie strategy in dramatic fashion with its move to add Millfield to Sesame in its list of strategic partners.

Pru says it will offer more commission and multi-ties could get better deals on PI and compensation scheme levies. The numbers may begin to tempt many advisers. Others are having none of it. SimplyBiz&#39s Ken Davy warns this week of multi-tie madness. Falcon Group&#39s Allan Rosengren suggests that a system of higher commission for multi-ties is unsustainable.

Much of the dynamics of any fight for business between independents and multi-ties will depend on just how many advisers multi-tie. The bigger an independent sector the more interesting that particular fight for market share will be.

But for the moment even if the market isn&#39t, opinions on the issue are polarised.


Mortgage brokers concerned with paperwork for customers says AMI

Association of Mortgage Intermediaries policy officer Ben Stafford says there are concerns with the amount of paperwork being given to customers. The single consistent issue being brought up by intermediaries according to Stafford is the consumer may be “weighed down” with paper IDDs, KFIs and additional specific paperwork. Although Stafford applauds the positive affect this […]


Should the FSA grant an authorisation grace period if an IFA&#39s network collapses to allow the adviser to carry on trading? “No. Everyone should have a contingency plan. If you join a network, you are basically a glorified emp-loyee. I am not in a net-work and if something happened to me tomorrow, no one would […]

Destini sets out strategy after stress

Over 150 Destini IFAs met last week at the group&#39s first conference after what a spokeswoman for the firm described as a “stressful” period for the IFA sector. Intermediaries and senior managers met in Coventry for the company&#39s first annual conference to hear about business plans and updates on the business model. Destini, which was […]

Woolwich Plan Managers – Accelerated Growth Bond

Type: Capital protected bond Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £3,000-£500,000, Isa £7,000 Term: Six years Return: 700 per cent growth in the index up to 63% Guarantee: Original capital returned in full providing the FTSE 100 index does not fall by more than 50 per cent without […]


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