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Small IFAs have a great future

While I admire Ian Mattioli (MM Profile, 5 December) for the pensions and wealth management business he has built up, he is wrong in thinking that small IFAs will not survive.

Small firms are generally nimble and focused. In our firm the clients can see the value we add and are happy to pay us well for it. As long as firms, large and small, concentrate on adding value way in excess of their fees they will not only survive but thrive.

Ian may be right about firms whose only focus is on distribution, but they won’t be a great loss to their ‘clients’.

Steve Laird

Carrington Wealth Management 


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FCA fines insurance broker £1.8m for bribery controls failings

The FCA has fined insurance broking and risk management firm JLT Speciality Limited £1.8m for failing to have in place appropriate checks and controls to guard against the risk of bribery or corruption when making payments to overseas third parties. The regulator says JLTSL, which is part of the Jardine Lloyd Thompson group, failed to […]


HMRC attacked for ‘shocking’ record keeping on small pension pots

HM Revenue & Customs has come under fire after admitting it does not know how many people take small pension pots as cash each year. Under trivial commutation rules, people aged 60 or over with total pension savings worth £18,000 or less may take their fund as cash rather than buying a retirement income product. […]


Ed Miliband attacks builders over lack of new homes

Labour leader Ed Miliband has launched a blistering attack on housebuilders and “stuck in the mud” councils as he bids to build more homes. Money Marketing revealed last month that Labour was set to review how to achieve its target of building 200,000 homes a year in the next parliament. Labour has now launched its Housing Commission review led […]


Govt charge cap impact assessment ‘not fit for purpose’

The DWP’s assessment of the impact of a pension charge cap is “not fit for purpose” because it fails to clearly show the affect it will have on pension providers. The damning verdict has been delivered by the Regulatory Policy Committee, an independent body set up by the Government to scrutinise regulation. The DWP has […]

Planning now for the residence nil-rate band

Graeme Robb, senior technical manager at Prudential, writes about the residence nil-rate band and the advice opportunities it presents for you when tax year-end planning with your clients. On our Planning Matters hub, we considered a widow, Margaret, and a married couple, John and Anne, for whom the residence nil-rate band (RNRB) is influencing planning […]


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