View more on these topics

Whitechurch bids to build membership with fee deal

Whitechurch is offering gross commission payments to new network members for the first three months.

Whitechurch is offering gross commission payments to new network members for the first three months.

As an alternative to fee-free commission, new members who opt to pay monthly fees will have these waived for the same period.

The network company is also offering a fixed annual fee of £8,800 per adviser until February 2010 in addition to the monthly fee of £733.33 and Financial Services Compensation Scheme levies.

Managing director Ian McIver says: “I have seen networks make a similar offer and they mean commission received for the period after joining. I feel that is not quite fair.

“Commission on business written in month three is not likely to be received until month four. Our offer is simple. Commission will be paid gross on business logged within the quoted periods, regardless of when it eventually arrives.”

Christie Scott principal Julie Hedge says: “In theory, it is a good offer although advisers are quite cautious when looking to join networks.

“With all the horror stories that have come out, it is often difficult for companies to gain market share.”


Hornbuckle Mitchell sale could raise £40m

Sipp provider Hornbuckle Mitchell has put itself up for sale and appointed Ernst & Young to deal with offers from potential buyers.Hornbuckle employs 170 staff and administers 8,500 pension schemes with a total asset value of over £2bn. Its accounts for the year ending December 2007 show profits of more than £1m.Sipp specialist Suffolk Life […]

9,000 Would have been time-barred

A total of 9,000 complaints to the Financial Ombudsman Service would have been time-barred in 2007/08 if a 15-year long stop had been in place.After a Freedom of Information request by the IFA Defence Union, the FOS has revealed that of the 9,000 complaints that would have been time-barred, 7,000 relate to mortgage endowments. The […]

Bonds going bust? Not so fast….

In recent months bond bears have been reinvigorated, and market commentary suggesting “the end of the bond (bull) market is near” has become commonplace. We think these comments are premature. Explaining the global government bond sell-off October has seen renewed pressure on global government bonds, initially provoked by a Bloomberg article suggesting that the ECB […]


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