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Re-reg is more stressful than moving house

Yellowtail Financial Planning managing director Dennis Hall hit out at platform providers, claiming re-registration of client assets is too stressful.

Speaking at the conference last week, Hall said he has been trying to move assets from one platform to another over a period of about 18 months, and feels the experience “is worse than moving house”.

He said: “Everyone is talking about technology and how their processes work but they do not work if you are trying to move from one onto another. You need manual intervention.

“If there is any platform provider out there who wants to knock on my door, you can forget it because I am not going through another 18 months of pain just because you may have a better platform.”

“I have accepted that my platform is going to grow with me and I am going to grow with it, as it is too painful otherwise.”

James Brearley & Sons director David Hannis said: “From an equity holding point of view, the transfer of a nominee-held equity from one party to another is a simple process and can be done in a few days. The unit trust is the issue everybody is having to battle with.”


David Newman

In last week’s issue, Money Marketing reported that former Co-operative Bank marketing director David Newman had taken up a role at Residential Property Solutions. MM is happy to clarify that this David Newman is, in fact, now chief executive of Carole Nash and not the David Newman working for RPS, who was formerly finance director of The Mortgage Operation.

Special sits for Pease

Henderson New Star is planning to launch a European special situations fund headed by European fund manager Richard Pease.

KSF creditors reject Manx plan

Creditors of Kaupthing Singer & Friedlander Isle of Man have voted against a scheme of arrangement put forward by the IoM authorities. The KSFIOM Action Group says the scheme would have offered little more than liquidation.

Solving the income puzzle

There is a puzzle at the centre of financial markets. The global economy is growing, there are signs of inflation and interest rates are going up, yet yields remain low. In this article, James Foster, manager of the Artemis Monthly Distribution fund, unpicks this conundrum and looks at where investors can find income. There is […]


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