The FSA has confirmed the number of registered IFAs has rocketed in the last three years by more than 40 per cent. Howard Davies announced the rise at a polarisation meeting in London on Thursday. He said: "Over the last three years the number of independent advisers registered with the FSA is up by over 40 per cent as direct sales forces have reduced."
Christopher Mellor made a very valid point over his deal-ings with that bastion of monumental incompetence, the PIA Ombudsman.I was subject to a complaint about paying my fees. I instit-uted court proceedings so the complainant, advised by another IFA, complained to the ombudsman. I was asked for £500 but refused on the grounds that the […]
Now the £75m takeover of Towry Law is in place, AMP is finally hoping to lay the ghosts of pension misselling to rest and build AMP as a strong advice-led brand in the UK.UK managing director Tom Fraser, still less than a year into the job after joining from Norwich Union, has spent millions since […]
Morley Fund Management, which is part of CGNU, has put the spotlight on Europe with the introduction of the European focus fund.Created as an open-ended investment company (Oeic), European Focus is aimed at medium-risk experienced investors who are looking for growth by investing in European equities.European focus will be based on the European element of […]
At the end of November, the FSA will finally get its full authority and the era of the single regulator will arrive. But the new regulator has already been busy, both in terms of preparation and in pursuing a number of projects that have arisen along the way.Perhaps an indication of the ambitious attitude tow-ards […]
By Paul Caruana-Galizia, Neptune Economist
Sub-Saharan Africa’s economic renaissance continues. After growing at an average rate of five per cent over the past decade, the IMF projects an acceleration to 5.5 per cent growth among Sub-Saharan economies in the next two years, as developed economies emerge from the crisis. We expect this growth to be sustainable for three broad reasons.
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Offsetting the cost of advice this way would benefit clients and advisers alike One of the multiple barriers to better take-up of financial advice is that some people are unwilling or unable to meet the upfront cost. In response to this, the government has allowed people to take small chunks (three lots of £500) out […]
Fund managers like to trade off having a unique style. There thousands of funds out there to choose from – the question I often hear from advisers is: what makes this person different? Sometimes this can be a really tough one to answer. “We invest for the long term” is all fine and good, but […]
With rising costs and an increasingly tough regulatory market more advisers are looking to outsource their investment proposition, with many leaning towards discretionary fund managers. But while the number of advisers using DFMs is on the up, overall satisfaction with them has dipped. According to a recent survey by financial information firm Defaqto, 74 per […]