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Transact pledges to meet post-polarisation needs

IFA portfolio consolidation service Transact is aiming to reassure IFAs that it will cater for them in a depolarised world, whatever their status.

In a newsletter to its IFA clients, Transact says it will provide “the best of both worlds, whether the adviser decides to remain independent or opts to become a distributor”. The newsletter enc- ourages IFAs to think about a depolarised market now, warning IFAs that the FSA&#39s proposals are unlikely to change in the consultation.

For IFAs which choose to retain their independent status, Transact says it can accommodate the FSA&#39s fee-based defined-payment system.

For those which choose the distributor route, Transact says advisers can tie to its platform, giving it access to every unit trust, Oeic, investment trust and London-listed share on the market.

Commenting on the FSA&#39s polarisation paper CP121, the newsletter says: “Although it is called a consultation paper there seems to be a general belief that the substance of the proposals is unlikely to change with the consultation revolving around the details of implementation.

“As usual, the devil will be in the detail but, whatever the outcome of CP121, you can be sure that Transact will be there to ameliorate the effects of yet another major upheaval for IFAs.”


ABN Ambro reinvents Isa cafe

ABN Amro is to relaunch its Isa café on April 5, enabling last minute investors to deploy their Isa allowance in style. The café will be set up at ABN Amro&#39s City offices at 82 Bishopsgate. However, for IFAs outside London, the firm is teaming up with M&G, Hemderson, Cofunds, Aberdeen, New Star and Invesco […]

CP121 under threat as EU gets set to rewrite UK financial rules

The European Union is poised to rewrite the rules for UK financial services leaving the Treasury, the FSA and IFAs up in arms.Last week&#39s EU summit in Barcelona said that it would adopt seven key financial directives as soon as possible ahead of the creation of a single financial services market by 2005.The raft of […]

M&G tops Isa spend with £1.33m

M&G is leading the Isa season spend on press advertising, according to new figures from Thomson Intermedia.M&G spent a total of £1.33m on press advertising in February, accounting for more than 12 per cent of the industry total of £10.62m.Fidelity is second with a spend of £1.23m while Legal & General was the only other […]

Industry will be hurt by CP121

Open letter to David Severn, Head of polarisation review, FSA Should the proposals outlined in the CP121 come into being, I believe that this willdamage the financial services industry and infrastructure andconfuse consumers by over-complication.The FSA needs to understand the basics of the industry it is empowered to regulate.The vast majority of products offered by […]

2016 Global Survey of Individual Investors: How is investor behaviour rewriting the job description for financial professionals?

Trapped between expectations for near double-digit returns and strong apprehensions about investing in persistently volatile markets, investors worldwide are of the opinion that professional financial advice is worth the fee. But even though they believe individuals who work with a financial professional are more likely to achieve their goals, investors have a clear vision of […]


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