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Research shows public prefer commission to fee-based advice

Moving to a fee based system of financial advice will deter people on low incomes from seeing a financial adviser, according to research carried out for Intelligent Finance.

The research shows 59 per cent of those who expressed an opinion would be more likely to seek advice under a commission-based system than if they had to pay fees. Lower income groups were twice as likely to seek advice if the financial adviser was paid by commission rather than an up front fee.

The survey was carried out by ICM Research, who questioned 1005 adult in January 2001.


New pension rules could hit directors and higher earners

Controlling directors face losing out after the introduction of the latest raft of pension transfer regulations, warns the Income Drawdown Advisory Bureau. The IFA says anyone who could be disadvantaged by the rule chan ges should consider transferring now. The changes are part of the personal pension scheme transfer regulations which take effect from April […]

Yorkshire takes byte at technology VCT

Yorkshire Fund Managers has introduced the British Smaller Technology Companies VCT 2 as a follow up to the British Smaller Technology Companies VCT1. This venture capital trust aims to provide growth by cherry picking young, developing companies in the technology sector. These companies will be chosen will comprise of businesses that provide technology products or […]

Axa warns stake players they need bank backing

Axa says IFAs should question whether the stakeholder providers that are not linking up with high-street banks will survive, following its partnership with Bank of Scotland. The Bank of Scotland stakeholder will not carry the Axa brand although the life office will provide the investments and administration for the product. Axa, which recently unveiled plans […]


With-profits funds have taken a bit of a hammering recently. The review of low-cost endowment sales has left many people with the feeling that a withprofits fund perhaps carries more risk and fewer guarantees than they first thought. The debacle at Equitable Life has compounded these concerns. Low reserves, poor free-asset ratios and a naive […]


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