Ok Coconut Man, Moonhead and Pea, welcome to Friday (to copy popstrel Jessie J and it’s been making me laugh as a random standard greeting this week).
A week where the relentless trudge of News is a perfect microcosm of what is unfolding around us. Hargreaves profits jump; IFAs are talking to providers about execution-only solutions; Mattioli Woods is considering a move to restricted advice; DFM is in the blogs as advisers banter about needing to charge their clients VAT if they offer them an outsourced discretionary fund management (DFM) service. There are lots of adviser questions flying around about these topics. Following on from an event we ran for advisers 2 weeks ago, we have put together a little summary of answers to some of the most pressing questions adviser delegates had – this touches on many of the points raise in the news stories above. Thanks to our sponsors and contributors, AXA and BNY Mellon. There’s also some thoughts from us, Resources Compliance and Technical Connection so take a look.
We’re finalising our next Adviser Platform Guide. Some interesting findings included a sharp jump in adviser revenue coming from fees over the last 3 months – 37% of revenue now coming from fees up from just 29% last quarter as advisers start to implement what they have been testing; model portfolio use jumps to a record high – advisers tell us a whopping 48.3% of clients are managed this way; passive use keeps on rising and, as for tools on-platform, the only tool where on-platform use is now preferred is the jolly old CGT calculator. We’ll publish the research on 23rd Feb, the same day we launch our first ever platform ratings and brand new platform analysis tool. Stay tuned for winners and grinners and Botoxed PAT.
Finally, thank you to everyone who last week provided suggestions for the names of our new fish. Congratulations to Jennie Pullen at Allianz Global Investors for her suggestion of "Fingers and Pie" and also to Matthew Hayward from Zurich Intermediary Group for "Bips (bps) and (re)Baits". Cast your vote and the winner will be announced next week!
Have a great weekend everyone. I suspect there few problems in life which can’t at least be put on hold for an hour by grabbing a cheap plastic sledge and throwing oneself down a convenient precipice! Health and Safety here we come!
Holly
Sinclair quits Aifa to lead separate AMI
Fri, 10/02/2012 - 10:32The exodus of senior staff at the Association of Independent Financial Advisers continues with director Robert Sinclair set to leave to head up the Association of Mortgage Intermediaries which is to split from Aifa and be run as a seperate organistion.
Nucleus unveils new IFA advisory board
Fri, 10/02/2012 - 10:26Wrap provider Nucleus has announced a new IFA advisory board following its fifth annual re-election process.
Sipp committee to press FSA on platforms
Fri, 10/02/2012 - 09:13Sipp and Ssas trade body AMPS has formed a sub-committee to lobby on platforms.
Public recognition of platforms falls over the last year
Fri, 10/02/2012 - 09:00Consumer awareness of platforms has fallen over the last 12 months, according to research from The Platforum.
Amps to form platform sub-committee
Thu, 09/02/2012 - 17:19Chairman Andrew Roberts says the decision reflects the increasing importance of platforms in the pensions sector.
IFA in talks with Fidelity and JPM over execution-only platform
Thu, 09/02/2012 - 14:57Merseyside-based IFA firm LS Wealth Management is in talks with providers as it looks to launch an execution-only proposition by the end of the year.
Novia warns on cost of white-label execution-only service for IFAs
Thu, 09/02/2012 - 13:00Novia is in talks with an IFA firm about building a white-labelled execution-only service but has warned that the cost of such projects could reach six figures.
Hargreaves profits jump 28% despite drop in inflows
Thu, 09/02/2012 - 09:13Hargreaves Lansdown has reported record profits of £72 million for the second half of 2011, a 28% rise compared to the same period in 2010, despite a drop in inflows as difficult market conditions took their toll.
Mattioli Woods considers move to restricted advice
Wed, 08/02/2012 - 15:13AIM-listed IFA and Sipp provider Mattioli Woods is considering a move to restricted advice in a bid to drive down costs and remove regulatory risk as adviser numbers at the firm increase.
Techlink – What you missed (Weekly Bulletin from Technical Connection)
Wed, 08/02/2012 - 12:40Techlink, from Technical Connection, is the smart way for you to:
- Keep up to date
- Have access to a full library of technical information and interpretation on all the key issues surrounding personal and corporate tax, UK and offshore investments, protection, corporate and business markets and trusts
- Get valuable assistance with securing your professional qualifications; and
- Plan and carry out technical CPD and have it automatically logged for you
All of this content is delivered through an extensive and regularly updated range of text based do
Standard Life's platform partner FNZ acquired by private equity group
Wed, 08/02/2012 - 10:48Platform technology provider FNZ, which sits behind Standard Life and AXA Elevate, has a new owner after private equity firm General Atlantic took a stake in the Edinburgh based- company.
Private equity firm takes joint control of wrap provider FNZ
Wed, 08/02/2012 - 09:56General Atlantic has taken joint control of wrap software provider FNZ Group, alongside HIG Capital and FNZ senior management.
Outsourcing advisers dealt VAT blow under draft rules
Wed, 08/02/2012 - 08:53Advisers will have to charge their clients VAT if they offer them an outsourced discretionary fund management (DFM) service
Pershing updates platform with portfolio management tool
Tue, 07/02/2012 - 11:56Pershing has continued to expansion into the adviser wrap market with the launch of a portfolio management tool onto its recently rolled out platform.
Royal London new business rises 6% to £3.3bn
Tue, 07/02/2012 - 09:28Royal London has reported a 6% rise in new life and pensions business during 2011, with pensions, offshore and wrap businesses Scottish Life, Royal London 360 and Ascentric all experiencing business growth over the 12-month period.
