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Website urges investors to review with-profits

DMP Marketing is setting up a website called to encourage consumers to review their policies and direct them to an IFA in their region for guidance.

DMP says there is £400bn invested in with-profits policies. The site will appoint one IFA per region on an exclusive basis to get leads from clients who want a professional review.

Marketing director Matthew Morris says: “We are not saying all investors who have with-profits investments should get out of them but all investors with such plans should carefully appraise their worth with the help of a financial adviser.”

Alchemy Wealth Management director Drewe Lacey says: “It is an interesting time for with-profits because the concept locks in the annual bonuses so the unit price of with-profits funds may not have gone down as much as managed funds over the last 18 months. But they are hugely reducing their terminal maturity bonuses so that the immediate impact of the downturn is hidden.”


Threesixty starts IFA marketplace

Threesixty has launched a stand-alone company, IFA Marketplace, to help firms find buyers. The platform aims to introduce IFA firms to potential buyers or merger partners. Threesixty predicts that 30 per cent of IFAs will merge over the next five years.

Bank cuts rate by 1%

The Bank of England’s Monetary Policy Committee has cut the Bank base rate by another 1 per cent to 2 per cent.


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