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Would the abolition of initial commission lead to the widening of the savings gap?

“Yes. Because a lot of people at the bottom end of the market would not pay fees so they would not do anything about savings advice.”

David Folland,Folland Financial Services

“Possibly. We do not take initial commission but I expect a lot of IFAs would go bankrupt. A further reason why the savings gap is widening is because of the end of tax reliefs”

Ronald Morton,WC Hall

“Yes. I do not think a lot of IFAs would be able to survive if there was an end of initial commission and everything else would follow suit.”

Christopher Holmwood, Hallmark Independent Financial Adviser

“Yes. A lot of financial advisers would not be able to operate and therefore a lot of people could not access advice, which would have an effect on all kinds of products.”

Brian Passman,Directors Independent Financial Advisers

“No, I don&#39t think commission comes into it all. It is a trade-off between returns and costs.”

Eric Gall,Goring-By-Sea Independent Financial Services

“Yes, it means you would have to go fee-based, which would limit the number of clients you could have.”

Brian Pack,Brian Pack Financial Services

“Probably, although it would depend how it was instigated.”

Annette Smith,Annette Smith Grapevine

“Yes. It would lead to more fees being charged and knock out lower earners from receiving advice.”

Paul Stokes,Jack Lawrence Financial Services

yes 88%

no 12%


DIY boom &#39confirms confidence in property market&#39

Nearly half the population plan to spend money on home improvements in the next three months, suggests research by Alliance & Leicester.The findings go a long way to dispel the notion that Britons have lost confidence in the property market, according to the bank.It says the latest figures from its Movingimproving index indicate that homeowners […]

Hargreaves Lansdown putting Invesco Perpetual fund range on hold

Hargreaves Lansdown has put the entire Invesco Perpetual fund range on hold after the fund manager announced it is undertaking a further program of internal restructure.Hargreaves Lansdown head of research Mark Dampier says he has been wary of the stability in the group over the past few months following the departure of several fund managers […]

Framlington blocks Isa for biotech in bid to warn of risk

Framlington is not offering an Isa option on its new biotech fund in a move aimed at preventing investors who do not understand the fund&#39s risk from buying it.The new fund, to be run by star manager Antony Milford, is the follow-up to the top-performing Framlington health fund, which was one of this year&#39s top […]

Rathbones – EIS Portfolio Service

Tuesday, November 6, 2001.Aim: Growth by investing in unquoted companies and companies quoted on Aim.Minimum investment: £50,000.Investment split: 100 per cent in unquoted companies and companies quoted on Aim.Income facility: Not available.Charges: Initial 5 per cent, annual 2.25 per cent.Commission: Initial 2 per cent, renewal 0.5 per cent.Tel: 020 7411 4700.

Who pays inheritance tax and how to declare it

By Kim Jarvis, Canada Life In this article we look at which forms personal representatives (PRs) need to complete and who actually pays inheritance tax (IHT).  To recap, under current rules, any part of the estate that falls within the available nil-rate band (NRB), currently £325,000, is taxed at zero. Anything in excess of the NRB […]


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