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Shift to multi-ties is not inevitable

Most small IFAs I speak to are fed up with speculation over polarisation and the seeming “inevitability” of a move towards multi-ties.

There may be attempts to force us down a multi-tied route but those that seek to do so fail to under-stand two important factors:

1: Small IFAs have many clients of long standing whose diverse investments in many instances are producing a significant proportion of renewal income.

How can we explain to these clients that we can no longer administer or advise on the very products we previously arranged?

2: Most small IFAs are ex-life office employees who have absolutely no desire whatsoever to be associated again (that is tied) to a single principal life company.

We watch the behaviour of our networks with suspicion and I have no doubt that, should there be a move in the direction of the appointment of “regional sales managers” or imposition of sales targets, many members will vote with their feet (Misys, please note).

Small IFAs are fiercely independent and the majority are far more likely to chose early retirement than any form of multi-tie or imposition of management of their activities.

Chris Sheldrake

The Insurance & Investment Service,

Ferndown, Dorset


FSA wins award for clear letters

The FSA has been awarded a Clear English Service award from the Plain Language Commission for its correspondence. Letter-writers from its correspondence unit went on a nine-month coaching programme with the Plain Language Commission. The clarity, grammar and punctuation of more than 200 letters were assessed.The FSA deals with around 3,000 letters a year.

New Star is born

New Star is today launching two new funds, with a discount of 1 per cent off the 5.25 per cent initial charge for all investments received before July 20.The UK Growth Fund, run by Alan Miller, and the European Growth Fund under Richard Pease will also offer a 2.25 per cent discount to all Pep […]

Wesleyan extends mortgage guarantee

Wesleyan Assurance Society is extending it&#39s mortgage guarantee to cover all policies maturing before January 1 2008. Customers will be guaranteed that the maturity value of their policy will repay the amount of their original loan. This mortgage guarantee is part of Wesleyan&#39s mutual rewards scheme.

HSBC Bank International – Pan European Growth Fund

Tuesday, 3 July 2001.Type: Ucits.Aim: Growth linked to the Dow Jones EURO STOXX 50, FTSE 100 and the Swiss Market Index.Minimum investment: £5,000 or US$5,000.Place of registration: Dublin.Investment split: Dow Jones EURO STOXX 50 33.3 per cent, FTSE 100 33.3 per cent, Swiss Market Index 33.3 per cent.Isa link: No.Charges: None.Commission: Initial 2.5-4.5 per cent.Tel: […]


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