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Survey reveals boost for IFAs&#39 fee-based business

Three-quarters of IFAs say they are optimistic about their future, with the same number saying they have seen their fee-based business increase during the year, according to exclusive survey results from The One Account and Money Marketing&#39s State of the IFA Nation 2004 survey.

The fact the vast majority of advisers are seeing the fee-based side of their business increase reinforces the continuing trend away from traditional commission-based remuneration for advice.

The third annual poll reveals that 81 per cent of independent advisers would not consider multi-tying when polarisation is abolished, preferring to remain independent.

Seventy-five per cent have endorsed the network model, saying they are optimistic that it will survive the next five years.

Not surprisingly, Government handling of financial services policy was slated, with 70 per cent saying it has done poorly. Only 12 per cent rated its job as excellent, very good or good in this area.

More survey results which cover all the major areas of IFAs&#39 businesses, including their plans for dealing with depolarisation and the onset of mortgage and protection regulation, will be published in Money Marketing over the coming weeks.

Professional Partnerships financial planner Edward Nice says: “In our experience, clients are willing to pay fees partly because they appreciate the benefits of truly independent advice and the levels of expertise that financial advisers have.

“We have therefore been able to build long-term relationships with our clients that banks, for example, are unable to do.”

Baronworth Investment Services director Colin Jackson says: “The last three years have been very tough but things have certainly improved in the past six months.”


Widows boosts e-commerce capabilities of pensions operation

Scottish Widows is launching a straight-through process for IFAs quoting and applying online for individual stakeholder and personal pension plans through its extranet. Widows is also establishing a direct link from the Exchange portal to its IFA Extranet service which will allow IFAs to apply online for stakeholder and personal pension plans. Scottish Widows marketing […]

Aegon aims for 5% share with IFA merger

Origen chief executive Gareth Marr (pictured above left) and chairman Peter Dornan (right) now lead an IFA formed from the consolidation of the five firms wholly owned by Aegon – Advisory & Brokerage Services, Wentworth Rose, Aurora Financial Group, Momentum Financial Services and Elliott Bayley. The new 200-RI firm has aggressive expansion plans to win […]

IFAs welcome home reversion regulation

Research has shown that 89 per cent of IFAs support the Treasury&#39s decision to regulate home reversion plans. The research, by Norwich Union, also shows that 83 per cent of IFAs are concerned about the lack of awareness among consumers, stating they do not believe consumers are aware of different types of equity release schemes. […]

Merril chief Jones moves to Fidelity

Fidelity has appointed former Merrill Lynch managing director Michael Jones as executive director responsible for its UK bank, insurance and asset manager channels. Jones, who was in charge of Merrill&#39s UK third party and retail businesses until earlier this year, joins Fidelity&#39s Financial Institutions Group in mid-June.

China’s economic bounce may already be over

By Mike Riddell (17 May 2016) Most people would explain the rally in global risky assets since mid-February as being primarily down to the spectacular volte-face from the Federal Reserve, where Janet Yellen (and others) dramatically toned down their narrative that the Fed would be hiking rates as many as four times in 2016. This explanation […]


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