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Holistic Advice Forum

Holistic Advice Forum. June 2011 . Business Update. Guy Peters – Head of Distribution Development. 2. Business update. Trading Update Platform New Business Attitude to Risk Tool RDR update, inc CP11/8 Data collection. 3. Trading Environment. Economy Regulation Qualifications.

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Holistic Advice Forum

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  1. Holistic Advice Forum June 2011

  2. Business Update Guy Peters – Head of Distribution Development 2

  3. Business update • Trading Update • Platform New Business • Attitude to Risk Tool • RDR update, inc CP11/8 Data collection 3

  4. Trading Environment • Economy • Regulation • Qualifications

  5. Trading – UK gross lending (£bn) Source: Council of Mortgage Lenders +1% vs Q1 2010 4

  6. Trading – average turnover in network per adviser Rolling 12 month annual business turnover £ Mortgage & GI +35% April 2011 April 2010 5

  7. Trading – average turnover in network per adviser Rolling 12 month annual business turnover £ Mortgage & GI £ Pensions & inv +35% +8% April 2011 April 2010 April 2011 April 2010 6

  8. Scottish Widows study finds lack of protection! • up to 28m people with no life insurance • “Our research shows that the majority of people clearly understand the benefits associated with protection products such as life, critical illness and income protection, but that many still do not adequately protect themselves, their families and their homes.” • Financial Adviser 12th May 2011

  9. UK platform business • £152bn of assets on UK platforms* • Most new business still written off platform On platform 23% Off platform 77% * As at end of Q1 2011 7

  10. Sesame Bankhall One • Significant increase in assets held on Elevate • Increasing number of firms using Sesame Bankhall One • Funds under management • Support for firms

  11. Attitude to Risk Tool Update • Responding to the FSA’s Consultation Paper – “Guidance consultation on assessing client suitability in investment selection” • Deliver a solution that can be used for investments on and off the platform • Formal tender process ongoing

  12. RDR update Qualifications & CPD New revision initiatives CII Accreditation Adviser charging CP11/8 Data collection: RMAR return & complaints data Dispelling the Myths! 8

  13. RDR update – CP11/8 Data collection: RMAR return Risks that the FSA believe they need to monitor: excessive adviser and product charging misrepresentation of an adviser’s advice status manipulation of the apportionment of costs allocated to product charges and adviser charges by vertically integrated firms 9

  14. RDR update – CP11/8 Data collection: RMAR return 10

  15. RDR update – CP11/8 Data collection: RMAR return 11

  16. RDR update – CP11/8 Data collection: RMAR return FSA expects that advisers that structure their charges based on the type of advice service (rather than on an hourly or percentage of investment basis) would be able to work out what this charge is on an hourly basis. 12

  17. Adviser Charging – Dispelling the Myths! • How will adviser charging operate? • Will the FSA dictate the way I charge? • Can I charge clients on a percentage of funds invested • How do I charge for ongoing service? • What happens to my pre – RDR trail? • What happens to Protection Commission ?

  18. Business update – summary In uncertain times clients rely on the good quality advice you can give Sesame One & Bankhall One gaining real momentum Working to provide further support – ATR, qualifications, CPD Vast majority of advice charges will be facilitated via the product or platform 13

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