The Tenet Group is submitting its protection arm Premier and compliance support subsidiary Tenet Support Services for FSA regulation.The company says that although this is not a requirement for these parts of its business, it wants the additional stamp of credibility and authority that it believes regulation will bring. Tenet Group chief executive Simon Hudson says he considers there is a big difference in quality between the various support service providers in the market and he believes the fact that firms are not required to be regulated means some can effectively get away with offering a sub-standard service. He says: “Some support service providers are doing more harm than good and the fact they are not regulated means they can get away with it and pass on the responsibility to the advisers. “We want the equivalent of an Abta stamp so that anyone buying in our services knows that what they are getting is proper and compliant. We feel confident in our services to ask for this proactively.” However, Simply Biz managing director Ian Thorneycroft says: “We are not in favour of this, primarily because our existing market relationship works well. Secondly, for cost reasons, as you will essentially end up with double costings – once for the support services firm and again for the individual adviser. “Our costs will ultimately be passed on to the advisers. We do not see any additional benefit.”
Flexibility in the self-cert mortgage market means different things to different lenders and how much flexibility a client needs is an important point for IFAs.
Spring Move is to offer a no sale no fee Hip and is challenging the rest of the industry to match its move.The Hip provider says it will only charge for its specialist Hip if a sale is agreed to counter criticism of the fact homeowners may have to pay twice for a Hip if […]
Positive Solutions is looking to set up a fund platform by the end of March 2007.Positive Solutions advisers use all the major platforms but the firm says it aims to create its own proposition.Executive chairman David Harrison says a truly independent adviser cannot favour a single provider-owned proposition but does need access to an open […]
Positive Solutions is looking to set up a fund platform by the end of March 2007. Positive Solutions advisers use all the major platforms but the firm says it aims to create its own proposition. Executive chairman David Harrison says a truly independent adviser cannot favour a single provider-owned proposition but does need access to […]
By Mark Martin, Manager of Neptune UK Mid Cap Fund
Rapid economic and income growth is leading to a dramatic shift in diet towards protein products right around the globe. UK companies such as Genus, the world’s largest livestock breeder, are benefiting from this increasing demand. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses this investment theme.
- Top trends
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
Offsetting the cost of advice this way would benefit clients and advisers alike One of the multiple barriers to better take-up of financial advice is that some people are unwilling or unable to meet the upfront cost. In response to this, the government has allowed people to take small chunks (three lots of £500) out […]
Fund managers like to trade off having a unique style. There thousands of funds out there to choose from – the question I often hear from advisers is: what makes this person different? Sometimes this can be a really tough one to answer. “We invest for the long term” is all fine and good, but […]
With rising costs and an increasingly tough regulatory market more advisers are looking to outsource their investment proposition, with many leaning towards discretionary fund managers. But while the number of advisers using DFMs is on the up, overall satisfaction with them has dipped. According to a recent survey by financial information firm Defaqto, 74 per […]