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Is DBS justified in raising its fees to cover the cost of N2?

“Yes, with the extra regulatory costs, the money has to come from somewhere. As a firm, we have to sit down and make a decision about what is the best move for us.”

Rick Patmore, Ford Loft Financial Services

“No. Not by the level it has just done. A 30 per cent hike is quite an extreme measure.”

Steven White, Harrison White Financial Services

“No. But the fact that DBS is now owned by Misys means it was inevitable. It was always on the cards because you couldn&#39t have a situation where DBS fees were less than the other networks Misys owns.”

John Hall, John Hall Financial Services

“No. Being part of Misys gives them that extra bit of muscle. But where else can you go?”

Howard Simpson, H&M Independent Financial Advisers

“No. As a member, I don&#39t think the price is justified but I&#39ll have to have a look at it more closely to see if they can put it down to eroding profit margins.”

Steve Reeves, Blake Reeves & Co

“Maybe. It depends on your type of membership and what you use DBS for. If you do your own marketing, have a high retention, your own compliance officer and only use the network to do a sort of audit, then it&#39s not justified.”

Tim Hilditch, PJ Collier Financial Services

“Yes. We&#39ve increased commission and turnover year on year and not gett-ing anything back for it.”

John Reilly, Good Will Financial Services

yes 25%

no 63%


sure 12%


Burns-Anderson fined £85k for list of compliance errors

The PIA has hit IFA network Burns-Anderson with an £85,000 fine and ordered it to pay costs of £35,000 for a series of compliance failings dating back to 1999 and 2000.The action comes even though Burns-Anderson clients did not suffer significant losses as a result of the shortcomings but the regulator says the network&#39s inability […]

Divorcees&#39 pension warning

Couples contemplating a divorce should consider the full value of any pension scheme benefits, according to consultant actuary The Resolve Partnership.It says the true value of a pension is often overlooked and that spouses should be receiving up to double the current amount of their partner&#39s occupational pension through divorce settlements.Resolve believes the pension sharing […]

Genesis – Planet & Moons Earth Fixed 85 Per Cent

Monday, December 17, 2001.Fixed term: Until January 1, 2003.Fixed rate: 6.99 per cent.Minimum loan: £35,000.Maximum loan: Up to 85 per cent of valuation subject to a maximumof £200,000.Income multiples: 3.5 times principal income plus second or threetimes joint.Arrangement fee: £395.Redemption fee: 6 per cent of amount repaid in years one and two, 5per cent in […]

Challenger International – Challenger Open Annuity

Tuesday, December 18, 2001.Type: Investment-linked annuity.Minimum investment: £250,000.Minimum age: 50.Income frequency: Monthly, quarterly, half-yearly, annually.Charges: Initial 2.25 per cent, annual 1.5 per cent.Options: None.Commission: Initial 1 per cent, renewal 0.5 per cent.Tel: 01243 520020.


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