Wednesday 7 November 2007

James Hay mails direct SIPP offers.

Money Marketing reports that the Abbey (Banco Santander) unit James Hay
sent out a mailing to its 13,000 SIPP clients offering access to a select
panel of investment experts. Independent financial advisers (IFAs) accused
James Hay of undermining them. Money Marketing cites Robert Goldschmidt, a
partner at Cumberland Place, who says that James Hay cannot compete
against them and provide a service for them at the same time. Goldschmidt
has 85 clients on the platform with about £45m of funds under
management.
www.searchifa.co.uk

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