View more on these topics

Unipass bringing in charges for portals

Unipass is to introduce charges of up to £100,000 for IFA portals and product providers using its digital certificate system this year.

Standards body Origo, which runs Unipass, is introducing the charges to cover future costs. Until now, providers have acted as sponsors for the system, paying £50,000 each annually to cover the running costs.

But Origo managing director Paul Pettitt says the group has decided it wants to “introduce a more equitable system” for charging, although he acknowledged that smaller players may have difficulty covering the unforeseen cost.

Fees will be calculated according to turnover, with portals paying from a couple of thousand pounds up to just over £100,000 depending on their size. Three portals are currently sig-ned up to Unipass – Cofunds, Webline and IFA Engine.

It is believed that portals as big as The Exchange, which is in discussions with Origo, could pay in around £100,000 to be part of the service.

Webline managing director Paul Holland says: “It is a difficult job to find a commercial model that the portals will support. Even though, for large firms, £100,000 is maybe not a big consideration, those costs will have to be borne by somebody and this will eventually affect the subscriber.”

Recommended

Hooper quits Charcol

Charcol Holden Meehan business development director Graham Hooper has left the group. Hooper was instrumental in initiating Charcol&#39s acquisition of investment IFA Holden Meehan last June, where he had been marketing director for two years after moving from Chase de Vere. He has spent the past six months helping to integrate the businesses and is […]

L&G&#39s protected plan offers 21% minimum

Legal & General&#39s latest capital-protected product is offering a minimum return of 21 per cent or 50 per cent of any growth in the FTSE 100 index, whichever is greater at the end of six years. Capital Protection Plus 2, which is available for a six-week period until February 27, has been given a low-risk […]

Cavanagh puts the case for professionals

Cavanagh chief executive Andrew Fay is looking to build on the professional focus of business after the group&#39s takeover of Ernst& Young Financial Management. Fay says he wants to exploit the synergies of the two companies. Cavanagh is strong in the legal sector in London and the South and is now targeting lawyers in EYFM&#39s […]

L&G launches protection marketing material

Legal & General is launching a new set of guidance cards that outline the opportunities for recommending key person cover, directors share protection and partnership protection policies. The life office&#39s 2003 business intentions survey highlighted that half of the UK&#39s small firms risk collapse within a year as the health of their key workers remains […]

Guide

Guide: what you need to consider for your auto-enrolment project

In this guide, Johnson Fleming reveals what items you need to understand to gauge the impact of auto-enrolment on your business. The guide focuses on: the impact that your auto-enrolment scheme will have on you; assessing your workforce; understanding your staging date; reviewing your current provision; and modelling contribution levels and costs.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com