View more on these topics

We didn&#39t hike prices, says Synaptic

Synaptic Systems has accused Financial Options and Kestrel of misleading their members by trying to blame the software provider for recent price increases.

In a recent letter to members, the Misys-owned networks blames the increase in the monthly network fee for Synaptic&#39s Product Research Professional software to £97 from £75, on “difficulties in negotiations”.

But Synaptic says it has not increased its prices and no negotiations took place. Mifas says the letter refers to neg-otiations over internal administrative costs between itself and the networks, even though the letter makes no mention of Mifas.

The letter says: “The network has a licence agreement with Synaptic Systems…We have managed to keep the increase in the monthly price quite low although we are having difficulties in negotiating year on year.”

Synaptic has written to all its customers, describing the networks&#39 letter as “inaccurate and misleading”.

The rise led to 25 firms cancelling subscriptions although 24 have opted to take the software direct from Synaptic for its regular fee of £55 a month.

Synaptic managing director Selwyn Herring says: “We have not held discussions with Financial Options or Kestrel at any level about a price increase.”


Britannic set for second service at Eastbourne

Britannic Asset Management is to sponsor the ladies international tennis tournament at Eastbourne for the second time this summer.The grass court tennis week, which is seen as a warm-up for Wimbledon, runs from June 15 to June 22.Sales & marketing director Francis Ghiloni says:”We were delighted with the success of our first year as title […]

IFAP rejigs site to aid consumers

IFA Promotion is revamping its website,, and highlighting to consu-mers the importance of getting an IFA with the specialisations they require.IFAP has upgraded the IFA search facility on the site to allow consumers to search for an IFA based on the qualifications he or she holds as well as criteria such as location and […]

Wentworth Rose simplifies annuity application

IFA Wentworth Rose is simplifying the application process for people seeking higher annuity payments by combining the medical questionnaires they need to complete. Instead of having to fill out up to seven different forms, clients of Wentworth will only have to complete one in order to receive a quotation from annuity providers. Wentworth claims the […]

EMX is extended to IFAs&#39 clients

IFA clients will be able to pay for products electronically following an improved service from fund payment system provider EMX.The introduction of electronic payment settlement for intermediaries brings it in line with fund supermarkets and other online retail operations that can complete purchases electronically.IFAs will be able to take a client&#39s bank payment details and […]

Scheme pays explained

By Fiona Hanrahan, senior product insight and technical support analyst We’ve received lots of queries on scheme pays and when it can be used. This article explains how it works and the conditions which apply. What is ‘scheme pays’? If an individual exceeds the annual allowance (AA) and an AA tax charge is due, they […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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