Money Marketing Interactive

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Overexposure to VCTs and EISs could affect sale value of a firm

Overexposure to venture capital trusts and enterprise investment schemes could potentially put off buyers when advisers try to sell their businesses, chief executive of Capital and Trust Patrick Isaacs warns. Speaking yesterday at Money Marketing Interactive, Isaacs says advisers looking to sell their firms could hit problems if their clients are reliant on VCTs and […]

Sanlam looks to hit 1,000 advisers by 2020

Sanlam UK has revealed ambitious plans to grow to 1,000 advisers over the next two years. Speaking at the Money Marketing Interactive conference yeasterday, Sanlam UK group chief executive Jonathan Polin said the wealth manager is also planning to invest directly into stocks and bonds in an attempt to cut costs. The vertically integrated firm currently […]

Firms still solving ‘nightmare’ cost reporting under Mifid II

Cost reporting under Mifid II continues to be the most challenging element for advisers when writing suitability reports, according to Pimfa director of regulation Ian Cornwall. Speaking at the Money Marketing Interactive conference today, Cornwall says charges reporting remains “the most difficult part” of Mifid II due to the lack of standardised templates. He says: […]

Call recording could take PI pain out of DB transfers

Advisers should consider recording all conversations and meetings with clients so they can present a full picture of communication to PI insurers for renewal, according to panellists at Money Marketing Interactive. Appleton Gerrard financial planner Kusal Ariyawansa says he follows the practice of recording all conversations. He says: “If people aren’t financially savvy, advice runs […]

Susan Hill
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Advisers demand more pay over regulatory overload

Advisers claim they should be paid more for the extra work new regulations are bringing to their companies. European regulations that were implemented this year, such as Mifid II and Priips, require adviser firms to produce additional reporting on product suitability and build cost disclosure documents to improve transparency for their clients. Speaking today at […]

Outgoing SJP chief executive David Bellamy
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Ex-SJP boss Bellamy defends charging model

The widely-held view that St James’s Place is one of the most expensive advice firms has been shot down by its former chief executive, David Bellamy. The charging structure at SJP faced more scrutiny last year after an undercover investigation by Which? that found charge disclosure varied and restricted advice limitations were not properly explained […]