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Should IFA commission be capped?

“Yes, on certain things such as large investments of over £1m but not

on group pensions where there is a lot of paperwork involved. If they are

going to cap commission, they should set a minimum level, too.”

Roger Moore, Complete Asset Management

“No. I understand Sandler looking at it but as long as clients know what

is being paid, then I cannot see a problem.”

Nigel Curry, Griffin Steel & Co.

“Yes. If there are different levels of commission, an adviser might be

swayed to choose one particular product.”

Helen Wilebore,Newton Davis & Co.

“No.The amount we get at the moment is just-ifiable. Perhaps it is a bit

generous in some casesbut there is nothing to stop the IFA rebating it to

the client.”

Edwin Forsythe, Forsythe Financial Services

“Yes, for consumer protection.”

Gary Tse, GT Financial

“No. It is anti-competitive and goes back to the reasons why it was

uncapped back in 1988.”

Michael Saunders, Michael J Saunders

“No because although it might well be too high, with this Government in

power, it will use the slightest excuse to put us out of business.”

Stephen Foreman, Grainger Co Financial Services

“No I don&#39t think commission should be capped. I think the IFA should have

the choice to rebate the customer.”

Annette Smith, Annette Smith Grapevine (IFA)

yes 37%

no 63%


New telephone account from Chelsea

Chelsea Building Society is launching a telephone based investment account paying a variable interest rate, currently 5 per cent gross a year.The interest on the Call-Direct Advantage Account is guaranteed not to fall more than 0.25 per cent below the Bank of England base rate before January 2003. The minimum investment is £2,500, and no […]

Sun Bank profits up 39 per cent

Sun Bank pre-tax profits jumped 39 per cent to £6.2m from £4.46m for the first six months of the year. Assets under management rose 16 per cent to £1.3bn from £1.1bn and lending increased 14 per cent to £156.8m from £137.5m. Customer deposit accounts increased 13 per cent to £1.1bn from £974m. The bank has […]

Just in time to beat penalty

As an IFA, I was involved last year in helping my father in obtainingcompensation from Equitable Life for being advised to transfer hisoccupational pension scheme with BOC back in 1987 to an Equitable Lifepersonal pension. I contacted Equitable Life some time ago and they advised me that myfather&#39s plan would, in fact, not fall within […]

Parsoli adds an Islamic option for Muslim investors

Muslim financial specialists Parsoli UK has introduced the Parsoli global Islamic equity fund.The fund is an open-ended investment company and has been aimed at Muslim investors in the UK and Europe who are looking for a financial product that complies with Shari’ah.Shari’ah means to be compliant with both Islamic law and the Koran, and as […]

How to use wills to protect your clients’ wishes

March was Free Wills Month! Free Wills Month brings together a group of well-respected charities to offer members of the public aged 55 and over the opportunity to have their simple wills written or updated free of charge by using participating solicitors in selected locations around England and Wales. Research by the Law Society* highlighted that only 64 […]


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