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Tier pressure inflates costs

Low-tier advice, or as some call it more harshly dumbed down advice, may not be the answer to everyone&#39s prayers after all.

Research by consultancy AT Kearney suggests that a lower-tier advice distributor firm would need sales of nearly £500,000 per salesman per year to turn a profit.

Of course, the research is not definitive as it required the consultancy to create its own model for testing. Others may find imaginative ways around the financial hurdles – it did not, for example, test AMP&#39s trail-based direct advisers – but it must surely give pause for thought to policymakers and regulators.

If the private sector is to be harnessed to help close the savings gap, whatever size the gap may be, then it must be allowed to make a profit.


&#39Borrowers returning to building societies for best mortgage deals&#39

Building societies reached their highest mortgage lending total for 13 months in April.Figures from the Building Societies&#39 Association show societies&#39 lending at £2.673bn in April up from £2.67bn in March and £1.9bn in April 2001.BSA figures for April reveal net advances rose to £788m from £682m the previous month and £628m last April.But approvals, loans […]

New Star International creates Oeic

New Star International has established global investment funds, a Dublin-based Oeic, which consists of six actively managed funds.The Oeic aims for capital growth and spans the globe by offering New Star Asian opportunities, New Star European growth, New Star global emerging markets, New Star Japan recovery, New Star UK dynamic and New Star US opportunities […]

Darling leaves DWP, replaces Byers at transport

Secretary of State for Work and Pensions Alistair Darling has been named as the replacement for disgraced Transport Secretary Stephen Byers, who resigned yesterday.Darling will be replaced at the helm of the Department for Work and Pensions by Treasury chief secretary Andrew Smith, the Government has announced today.Smith, in turn, has been replaced by current […]

IMA baffled at report of Sandler move on active funds

Ron Sandler will recommend that the Government cracks down on the sale of actively managed funds bec-ause of the belief that they rarely outperform cheaper tracker funds, according to The Times.The paper says Sandler&#39s review team will make the recommendation when it publishes its report, expected in mid-July, because Sandler does not believe that actively […]

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In Focus — May 2015: private medical insurance market in Germany

Welcome to the latest edition of In Focus. In this issue, Jelf examines the private medical insurance market for employers with expatriate workforces in Germany. This includes the common challenges faced in sourcing appropriate coverage, along with a selection of available solutions. This will be of particular interest to HR/reward decision makers with employees based in Germany. It will assess the cultural norms, risks and backdrop that are relevant to organisations with expatriate staff in this location.


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