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Survey the foundations of property

The expertise of IFAs in the property market has been questioned by the British Property Federation.

The trade body says that IFAs’ knowledge of tax and pension matters may be high but if property is to make up a substantial proportion of an investment portfolio, say in a Sipp after A-Day, then they have concerns.

It is completely appropriate that they voice this opinion and there may be gaps in some advisers’ knowledge.

IFAs have concerns themselves about the property industry and are increasingly voicing them. They believe that property investment in pensions is being sold – some would say hard-sold. Certainly, some of the advertising would not pass muster for any sort of mutual fund, whether within or outside a pension.

In some advertisements, no mention is made of the need to pay a market rate of rent to the pension fund while much is made of how much the actual cost of a flat or house is reduced by.

This clearly not giving investors a balanced picture. Money Marketing believes that some attention must be paid by regulators – whether the FSA, Advertising Standards Authority or the Dti – as to how the new property in pensions adventure is presented. Some IFAs may need to increase their knowledge or to link up with reputable experts in the field. But hopefully, advisers can serve as a brake on some of the wilder schemes being touted while injecting some much needed decent advice into the process.


Revenue warning offshore investors

Revenue and Customs has written to hundreds of offshore clients warning them against attempted tax evasion and pointing to IFAs’ responsib- ilities. The letters, sent out to 500 clients, say offshore customers should review their tax situ-ations carefully before sub- mitting their self-assessment tax forms. The recipients of the letters have 30 days to confirm […]

Not such smooth operators

Dianne Hayter’s Viewpoint seems to be entirely from her own perspective. My observations of her supposed successes measure in percentage influence rather than actual achievements. Perhaps she should return to her medically-based heritage because if she really thinks that “mystery shopping” and “the removal of the smoothed investment product” from a range of products the […]

Cann claims IFAs missing menu chances

IFAs are wasting the opportunities presented by the menu, according to the Institute of Financial Planning. Chief executive Nick Cann says that despite general antipathy to the document, most advisers are missing the chance to use the menu to outline the benefit of their services. He says the menu needs a serious overhaul and welcomes […]

Aegon recovers in Q2

Aegon’s life and pension sales bounced back strongly in the second quarter of 2005. Sales in Q1 took a hit as the impact of commission cuts on certain pension product lines took effect but Q2 sales were 22 per cent higher than in the same period of 2004. UK earnings rose by 40 per cent […]

Changes to early exit pension charges

In November last year, the FCA announced that from 31 March 2017, early exit pension charges will be capped at 1% for those customers who are eligible to access their retirement savings from age of 55. The rules also state that for new personal pension plans started after that date, or on new increments into […]


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