The Financial Services Authority (FSA) today published the findings of its follow-up work to improve the quality of pension switching advice. The findings will see a number of firms carry out past business reviews that will deliver more than £150 million in redress to customers.
The FSA’s work has seen great improvement in the market with many firms reviewing past sales and procedures to deliver improved outcomes for customers. However, there remain a number of firms still giving high levels of unsuitable advice.
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The Key to adviser business evolution and transformation |
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Article by
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February 2010
The Forces of Change
Whilst last decade has seen massive new developments in the financial services market place, the proposed changes brought about by The Retail Distribution Review will speed up the process of change from transaction and commission based to service and fee based (particularly recurring revenue dominated) adviser businesses. In the process, new providers such as wrap platforms have sprung up and experienced strong support and growth from forward thinking advisers even during severe market downturns whilst traditional providers have seen their businesses shrink as they struggle to keep up in the product development race and with the improved service standards now routinely expected.
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Money Marketing - June 2009 |
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Legacy Asset Systems reveals founding shareholders
The founding seven shareholders of platform migration service Legacy Asset Systems have been revealed.
Last week Money Marketing reported that Millfield Partnership co-founder and former managing director Bryan Beeston is to head the firm which specialises in helping advisers transfer legacy assets onto platforms.
Read the full article at - http://www.moneymarketing.co.uk/ |
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Legacy Asset Systems to offer legacy migration services to Ascentric users
Leading wrap platform Ascentric and Legacy Asset Systems (LAS) have today announced that LAS will supply asset migration services to Ascentric users, effective immediately.
Under the terms of the deal, LAS will provide Ascentric with its asset migration tool that identifies clients suitable for asset migration to the platform. LAS will also provide Ascentric users with client-specific cost and benefit comparisons which then populate an automated cost comparison schedule.
Users of the service will have access to a compliant suitability report that clearly shows the client advantages (and any disadvantages) of transferring this business. Ascentric is the first wrap platform to offer these unique services provided by LAS.
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Dunstan Thomas - June 2009 |
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Institutional heavyweights come together to launch cost efficient legacy asset migration service
Legacy Asset Systems Limited (LAS) was formally launched today to enable fully compliant end-to-end legacy asset migration for financial advisers. LAS brings together a unique combination of skill sets from different firms which together will offer the technology and expertise to provide a largely automated end-to-end process.
Stan Kirk, head of product development, LAS, explains: “By providing a complete client change management process, with joined up support tools and services that turn all of the daily obstacles into stepping stones, we can help IFAs on the journey to becoming New Model Advisers. This can be achieved by transforming their back books of business to conform with their new investment client proposition in a relatively short space of time.”
Read the full aticle at - http://www.dthomas.co.uk/ |
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