UK: IFAS AT RISK FROM RECESSION
Article Abstract:
Almost 25% of all IFA companies in the UK could go out of business in a mild recession, says financial analyst Plimsoll Publishing. The company analysed the financial position of 995 IFA firms during 1996-2000 and rated them as danger, caution, mediocre, good or strong. The ratings can be used to forecast failures, with 90% of 20 failed firms having been rated as danger or caution by Plimsoll after 1998. Some 15-20 firms could fail even without a recession, with the figure likely to double if a recession occurs. Some 222 companies of the 995 analysed have been rated as danger, with 379 deemed to have a high risk of failure because they are in heavy debt or have been making a loss. Some 446 of the 995 IFA firms were given a strong rating, however.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: LIFE INSURERS TO BAIL OUT IFAS WITH LOANS
Article Abstract:
Life insurance companies in the UK are planing to offer loan advances to IFAs to help compensate for lost commission once the government introduces the stakeholder pension in 2001 and brokers switch to renewal commission rather than upfront commission. According to Gordon Arthur, the director of corporate affairs at Standard Life, the government is likely to put a stop to initial commission , but many IFAs rely on this revenue. A number of Life insurers view the loan option favourably.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 1999
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UK: FSA PLANS TO ISSUE PAPER ON WHISTLEBLOWING
Article Abstract:
UK investment companies are to be encouraged to implement whistleblowing procedures to facilitate the airing and investigation of grievances over financial malpractice, by a consultation paper to be issued by the Financial Services Authority (FSA). The FSA handled 80 whistleblowing cases in its last financial year.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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