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Waiting for Sandler: Paul Smee, Aifa

As far as the IFA sector goes, the sub-title of this budget is “Waiting for Sandler”. Nothing structural here. Remember the Savings Gap? The Chancellor didn&#39t. Future of Isas? Not this year. Very,very delicately the Government confirms its intention to allow limited period annuities and to introduce more flexibility. But they are not unveiling much more than the careful reader of their consultation paper had already surmised.
Of course, as with all budgets, there will be new opportunities for bright advisers to help some of their clients; as with all budgets, as one door closes, another door shuts (as the late William Whitelaw would have said). But there is no grand sweep or vision for the future direction of savings. And at least there is no new review! But this is, as advertised, the NHS budget and perhaps we were foolish to expect anything else to share centre stage.
I continue to find the process and build up out of proportion to the outcome. The sheer volume of figures and the multiplicity of small measures make the budget statement a statistical marathon not an economic portrait.
Must go now; off to the bingo. So tax-advantaged these days.
Paul Smee is director general of the Association of IFAs


Why the IMA is reviewing sectors

I am writing in response to the article headlined, IFAs criticise IMA plan to scrap two equity sectors (Money Marketing, last week), in which your reporter quotes an IFA saying: “It was only a few years ago that the technology sector had only two funds in it.”The technology and telecommunications sector has only been existence […]

Nationwide – Guaranteed Equity Bond

Tuesday, April 16, 2002Type: Guaranteed equity bond Aim: Growth linked to the FTSE 100, S&P 500, Nikkei 225and Eurostoxx 50 indicesMinimum-maximum investment: £5,000-no maximumTerm: Six yearsGuarantee: Capital returned in full regardless of performance ofindices.Return: Up to 90% growth in the FTSE 100, S&P 500,Nikkei 225 and Eurostoxx 50 indicesClosing date: May 18, 2002Commission: NoneTel: 0800 […]

Point One expands into healthcare

Bankhall owned support services provider Point One is expanding its range of services into healthcare covering PHI, PMI and group risk schemes.The provider panel for the new service includes Bupa, Norwich Union Healthcare, Unum, Swiss Life, PPP Healthcare and Standard Life Healthcare.Point One has also announced Scottish Widows is joining its list of protection providers.Head […]

Fiona Price & Partners suffers exodus of RIs

Women-only IFA Fiona Price & Partners has been hit by a series of resignations that has cut its adviser numbers from 19 to eight.Among the latest resignations are senior staff members Victoria Amey and Margaret Hardy, who are both set to join Professional Partnerships after 12 years with the firm. They will reunite with Professional […]

US loan growth is not painting a pretty picture for the US economy

Written by Mike Riddell One of the current big debates in global financial markets is whether investors should believe ‘hard’ rather than ‘soft’ data, where the usually reliable business and consumer surveys have been suggesting strengthening in global growth momentum for some time now, while the economic data that feeds through into the Gross Domestic […]


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