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Relying on family advice can be costly

Research from stockbroker Brewin Dolphin shows 53 per cent of people who invested in a unit trust over the past five years consulted an IFA and 77 per cent were satisfied or very satisfied with its performance.

Out of the 31 per cent of investors who turned to friends, family and colleagues, or the 37 per cent who relied on their own research, only 67 per cent were satisfied or very satisfied with performance.

The investment provider also found that people in the South-east are the most dissatisfied with their unit trust performance, with 17 per cent.

The happiest unit trust investors (81 per centre) are in Wales and the South-west.

Brewin Dolphin group fund director Harry Burnham says: “With thousands of unit trusts being invested in over the coming months, investors should bear in mind that relying on tips from family and friends or doing the research yourself can cost them dear.”


JPMF overseas trust under review

The JPMF overseas investment trust is to undertake a strategic review following the declaration of an 18.2 per cent holding in the firm by arbitrageur Carrousel Capital.

Equitable Life settles with former chief executive

Equitable Life has settled with one more of its former directors, Roy Ranson.The settlement with the former chief executive is on the basis that the society discontinues its claim with each side paying its own costs.The case against nine former directors continues, therefore Equitable Life is unable to make further comment.

FSA is flawed over customer controlled functions, says CII

The Chartered Insurance Institute is criticising the FSA for its proposals in CP 05/10 to remove customer controlled functions from the regulatory regime. The CII is stressing the importance of direct regulation of all individuals dealing with customers, rather than just senior personnel. The FSA is calling for the abolition of customer controlled functions when […]


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