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Referrals will still be only to IFAs

Professional introducers such as accountants, solicitors and trade unions would still be obliged to refer business only to IFAs if Sandler&#39s vision of independence is accepted by the FSA.

Sandler says the review team considered relaxing the regulations, which state that introducers may only refer business to IFAs, but decided against it.

This means that IFAs who opt not to operate under Sandler&#39s remuneration proposals would not only lose the independent and adviser labels but could not conduct referral business, a significant revenue stream for many advisers.

But many IFAs say that under Sandler&#39s definition of independence, more advisers would opt to remain independent so the fact that only they could conduct referral business would not be a problem.

Sandler says that by limiting who introducers can refer business to, the independent proposition is made more attractive to advisers.

Syndaxi Financial Planning principle Robert Reid says: “If his definition of independence comes through, then I would imagine a lot more advisers would stay independent and the referral issue will not be a problem. The real question is how independence will be defined.”


Gartmore mixes government bonds and corporates

Gartmore has added the Gartmore Sicav European bond fund to its offshore fund range.The fund invests in government bonds as well as investment-grade corporate bonds. It aims for capital growth over the long-term and is expected to have around 52 holdings including Spanish, German and Swedish government bonds, plus corporate bonds from Tesco, hotel group […]

GE Life – Simplified Sipp

Wednesday, 17 July 2002 Type: Hybrid Sipp Minimum investment: £100,000 Investment choice: GE Life&#39s 26 funds, any unit trust, Oeic, trustee investment plans Administrator: GE Life Charges: Annual £100 Allocation rates: 100% Commission: Initial up to 6%, renewal up to 1% Tel: 01462 447002

&#39Regulation of GPPs needs to be tidied up&#39

Many IFAs do not have sufficient specialism to deal with corporate pensions and there is a need to tidy up the regulation of group personal pensions, according to the Pickering report.Pickering is also calling for a “new kind of regulator” to police the way that IFAs deal with occupational pensions and the way that group […]

IFA calls for help to fund Gambian girl&#39s surgery

A Devon-based IFA aims to raise £10,000 to fly a seven-year-old Gambian girl to the UK for major plastic surgery after she suffered third-degree burns in an accident last year.Castellan Asset Management director David Goss met Fatou Ceesay when he visited her village in The Gambia last November. Six months earlier, Ceesay was badly burnt […]


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