The Money Portal is buying financial services consultancy Clearwell in a deal that will see Richard Craven reunited with Graham Bates.Clearwell, set up 18 months ago by Bates and former Egg Invest managing director Andrew Firth, provides online consumer-facing technology that will be used to bolster TMP subsidiaries Sage and Millfield’s web propositions. TMP managing director Craven says Clearwell should cut advisers’ costs by delivering more efficient compliance. Firth joins the TMP board as chief operating officer. Clearwell strategy director Tony Vail also joins the TMP executive team and Bates will work one day a week as a consultant. Bates sold Bates Investment Services to TMP in September 2003 but he fell out with TMP the following year and left. Bates says: “I am delighted to be renewing our relationship. Richard and myself have been exploring opportunities for some time. “There are not that many great ways of interacting with consumers. We hope we have built something that will enable a true interaction between advisers and consumers starting with a front-end internet-based system, supported by phone back-up and completed with face-to-face advice.” Craven says: “I am delighted to be working with Graham again. We hope the acquisition of Clearwell will enable us to reduce costs. This should improve compliance, research and all elements of advisers’ serv- ice obligations.”
Behavioural finance explains why investors feel pessimistic about equity market performance
On September 14, I wrote to two firms, Axa and Standard Life, asking for bond values and details of reassignment. I then went on holiday. On my return, I found that both of them had sent the assignment but neither of them had achieved a bond value. I waited on the phone for nearly a […]
One of the most frequent calls that I get from IFAs is to ask for guidance on choosing the right client management system.
Treasury Committee chairman John McFall MP has written to the FSA to express concern about the its regulation of financial advertising.
The era of loose monetary policy created an environment that rewarded passive investors in the US. However, with the US raising interest rates for the first time since 2006, Felix Wintle explains why he believes active investing will be more important than ever. In the video Felix discusses: The rising cost of capital and its […]
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