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Re-registration at heart of wrap fears

How can the big wrap players get advisers to wrap around the clock? Well, there are a few things that might get advisers and their clients dancing.

Clearly, near the top of the list would be value for money, the fullest range of assets and asset classes, security of client data, concrete reassurances about the use of that information and good levels of service. Ease of getting your clients’ assets on to the site must be a priority, too. But the ability to get them off again is one vital ingredient often neglected.

The one thing many wraps and supermarkets do not promise is easy movement off their platforms, in other words, re-registration. Now Fidelity, Cofunds, Skandia, Selestia and Standard Life have formed a committee to debate many of the issues facing wrap and fund supermarket providers.

They say re-registration is a priority. We suggest that IFAs get on to these companies to make sure it stays a priority and is top of the agenda for the first meeting a few weeks hence.


Focus on Protection

The FSA is expected to recommend relaxing the solvency rules that require life companies to keep huge reserves of capital to mitigate potential losses.

NU to slash 4,000 jobs by 2007

Norwich Union will announce 4,000 job losses across its UK operations by the end of 2007.Around half of these will be in the form of compulsory redundancies, with about 1,000 support roles being offshored to India and 500 IT roles outsourced to third party suppliers.Following a review of its businesses, NU says it is hoping […]

Nationwide tipped to flourish after merger

The Building Societies’ Association has trumpeted the merger of Nationwide and Portman as an opportunity for a mutual to give the banks a run for their money.The BSA claims its members do not get the same grief as banks for treating customers unfairly and it is healthier to have strong building societies in the mortgage […]

FSA hosts asset management conference

The FSA is hosting its third annual asset management conference on Thursday 21 September including speeches from a number of senior FSA staff.Chief executive John Tiner will be outlining his vision of the regulator’s Treating Customers Fairly initiative and director retail policy and asset management sector leader Dan Waters will chair the day. Head of […]


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