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Succession blasts ‘dark forces’

Succession has hit out at insurers claiming they are launching platforms in a bid to protect assets rather than a desire to provide a service for clients.

Speaking at a Defaqto RDR conference in London last week, Succession chief executive Simon Chamberlain said: “There are dark forces at work, mostly in insurance companies, which are perpetuating the myth that you need massive scale to deliver a proposition.

“The insurance companies out there that have launched their own platforms have not suddenly found God. They did not get into financial planning because they thought it was great for the public. What they have done is launch platforms to try and protect their existing assets.

“IFAs and wealth managers can work together in collective groups to lower the cost to the client, the cost of technology and the cost of fund management, because all of those things are commodities. The only thing that is not a commodity is the reason clients do business, which is trust.”

Plan Money director Peter Chadborn says: “The flow of the supply chain is changing for the better and forward thinking planners are beginning to see providers and services as commodities that can be replaced where necessary.”

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FSA warns over suspected Sheffield United share scam

The FSA has issued a warning about a suspected scam targeting fans and shareholders of Sheffield United football club. The regulator says it is aware of reports of a Japanese company called Sumitomo Financial Corporation which is approaching people who have invested in Sheffield United plc, the holding group of Sheffield United football club. Sumitomo […]

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Ian McKenna: Action plan needed for G-day

In any normal year, implementing the ECJ gender ruling would be dominating industry discussion but 2012 is not a normal year. For any adviser business involved in the investment market, RDR compliance must be their primary focus. Last month, Martin Werth wrote in Money Marketing about the importance of more communication between life companies and […]

Barclays not being wrecked, says Agius

Barclays chairman Marcus Agius has rejected claims that Barclays is being “wrecked” by poor corporate governance, claiming an FSA official described it as the “best in class”. Last week, ex-Barclays chief executive Bob Diamond admitted during a Treasury select committee evidence session that the regulator had concerns about “culture issues” within its management structure. During […]

JPM adds investment outsourcing solution for advisers to its offering

JP Morgan Asset Management is launching an investment outsourcing solution for advisers later this year. JP Morgan says JPM UK Adviser Solutions will offer products and services to help advisers that are looking to outsource their investment solutions, but has declined to give further details about the proposition. Last month, JP Morgan Asset Management created […]

Investment

The Brunner Investment Trust – April 2017

Welcome to the latest update for The Brunner Investment Trust PLC from the Trust’s portfolio manager, Lucy Macdonald. Market Review Global equities have rallied over the first quarter of 2017, buoyed by signs of strengthening growth and optimism over company earnings, although this rally has faded towards the quarter end. US equities posted their strongest […]

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