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Rosengren says IFAs can come out top in crisis

Lighthouse says huge opportunities exist for IFAs to service existing and new clients confused by current market conditions.

At the IFA Consortium Key Adviser Forum in Rome, joint chief executive Allen Rosengren told delegates that IFAs will emerge strongest from the economic crisis.

He said: “In terms of our own profession, IFAs will win. Whichever way we look at it, we are the holders of the relationship with clients and we will continue to service those clients to the very best of our ability. The time for that servicing has never been as clear as it is now.

“We are seeing some huge major organisations having to consolidate into some big units. We have seen some enormous businesses go bust and the landscape will look very different at the end of all this.

“Who would have thought that some of the biggest names in financial services would cease to exist in the last 12 months or be bought by others? However, in a situation like this, there are also a lot of opportunities.”


Clarification of Sipps needed

Leading IFA John Fox has called for the imminent clarification on the definition of Sipps, following the Government’s changes to protected rights today.

New transfer deal for UK pensionholders

New Zealand-based pensions transfer service Offshore Pension Services is looking to launch a new scheme enabling individuals residing outside the UK to transfer their UK-registered pension scheme anywhere in the world.

Class action

Over the last few years, the prices of most asset classes have risen strongly and a major factor behind this has been the availability of cheap money. This continued to be the case until about a year ago. Almost all assets rose whereas their performance would normally have diverged to a greater extent. This process was driven by strong flows of liquidity into markets.


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