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Whitechurch launches mortgage club

Whitechurch Network is launching a mortgage club for members in conjunction with 1st Source Direct.

Managing director Ian McIver says he has recognised the value of controlling distribution through a single channel but feels the logistics and administration often needed in writing such business in-house are more onerous than using an outsourced company.

He says 1st Source Direct, with its ‘best of breed’ approach was the most suitable choice.

McIver says: “I was impressed that 1st Source Direct offers a best of breed approach and, making it quite clear in negotiations that without procuration fees matching the rates that members were currently obtaining from their current club choices there would be no point in a launch.”

1st Source Direct head of sales Alan Collinson says: “Ian has been working closely with us, and we seem to have ended-up with something that appeals to all concerned. I am very pleased with the outcome, and am very much looking forward to a successful and prosperous relationship with Whitechurch.”


Selestia Investment Solutions confirms launch dates

Selestia Investment Solutions has confirmed it will be going live to adviser consultants on August 1 and live to advisers on August 15.Skandia head of UK marketing Billy Mackay says the consultant pre-launch will allow the key benefits of the system to be demonstrated to advisers and ensures the platform addresses some of the training […]

Mifid could block commission ban

Aifa believes the FSA’s retail distribution review plans to ban certain types of adviser from receiving commission payments could be scuttled by the European Commission.Director general Chris Cummings says he expects the FSA to face difficulties in getting the structural changes advocated in the RDR to be accepted by the EC under the markets in […]

Away games are yielding results for UK managers

UK equity funds are increasingly investing outside the domestic market with exposure to China, the US, Canada, Asia and Europe. The trend is particularly noticeable in the UK equity income sector where the Investment Management Association requires 80 per cent to be invested in domestic stocks, leaving the remaining 20 per cent for managers to […]

A new dawn

With debate raging around the Retail Distribution Review and its related papers and continued talk of further market consolidation the traditional summer news lull does not look like appearing anytime soon.


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