View more on these topics

Raymond James targets IFAs

Online stockbroker Raymond James Investment Services has created a self-invested personal pension (Sipp) which enables advisers to establish and manage their clients portfolios online.

This full Sipp provides access to all investments that the Inland Revenue allows for Sipps, except commercial property. It has a low minimum investment of £1,000 for a lump sum or monthly contributions of £150. There is no set up or annual management charge and no commission paid on the Sipp itself. Instead, charges are levied on the investments that people choose to put inside the Sipp and commission arrangements for IFAs can be negotiated out of this charge.

The product is available only to IFAs who affiliate with Raymond James. To do this, advisers have to bring £25m worth of business to Raymond James within six months. The company says that it is interested in building relationships with fee-based IFAs who focus on the high-net-worth end of the market.

The advantage that this Sipp has over some Sipps is that it can deliver real time prices, so Sipp investors know exactly what their portfolio is worth at any given time. It also enables advisers to keep track of the portfolio by logging on to one website, rather than going through a series of websites to find all the information they need.

Sippcentre&#39s Sippdeal is a similar online Sipp product, but is aimed at the IFA market. It is also a full Sipp that invests in all Inland Revenue permitted investments except commercial property. However, it has an initial charge of £120 and although its minimum investment is the same as Raymond James for a lump sum, its monthly premium is higher at £200.


IFA firm opens new office in Glasgow

Telford-based IFA Start Independent is opening a branch in Glasgow, with 18RIs set to join its sixth regional office when it opens on February 1.Start Independent is part the Lifeboat Group, which also includes IFAnetwork A La Carte.Start Independent, which has 70 RIs, aims to recruit 600 more advisersbefore parent Lifeboat&#39s proposed flotation in 2005. […]

Warnings of backlash on multi-manager fees

Fund-of-funds providers could face resistance from investors if theycontinue to hit them with costly and obscure charges in falling stockmarketconditions, IFAs claim.Research conducted for Money Marketing reveals that third-party fundmanager fees and attributable expenses continue to raise total expenseratios for many multi-managers to between 2.5 and 3 per cent a year.The worst offender is Artemis, […]

DriveTec EIS revolutionises gearbox transmission

Kreis Consulting is promoting DriveTec, an enterprise investment scheme (EIS) that aims to raise between £750,000 and £1m to fund an innovative gearbox transmission system. A gearbox transmission system enables a car engine to drive the wheels. In a normal car, the gearbox needs less power at certain points while driving, but the engine may […]

Product matters

With the end of the tax year fast approaching, this is the time wheninvestment houses pull out all the stops to bring exciting new funds to thetable. This season will be no exception but what we will see is a biastowards the more cautious end of the market.The balance between equities and bonds is essential […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment