IFAs are going back to school

MoneyMarketing has reported that the UK companies Scottish Widows, part of the Lloyds TSB banking group and Norwich Union, part of the insurance group Aviva,
are heavily attracting independent financial advisers (IFAs) for their training
academies. For instance, Norwich Union has attracted over 1,300 registrations to
its Financial Adviser Academy since March.
www.searchifa.co.uk
MoneyMarekting cites George Andrew, market relations head at Scottish Widows, who noted the appetite for more professionalism in the industry.
I think IFAs have enviously looked on at the legal and accountancy professions, who
manage to charge substantial fees for their work.

UK direct property unit trusts prove a poor buy.

In the United Kingdom retail investors of direct property unit trusts have been hit by the double whammy of poor performance and of being unable to sell. Major players such as Norwich Union and Friends Provident have locked investors in with long notice periods.
www.searchifa.co.uk
The idea of investing in direct property via unit trusts was that it represented a non-correlation with shares. However, these unit trusts have proved illiquid with a limited market for selling their assets when investors cash in their units.

Life companies will struggle with platforms - Skandia.

Money Marketing cites Skandia UK chief executive Brett Williams, who says that life companies will struggle with platforms. For instance, Williams believes that companies such as Standard Life will find it hard to achieve the right scale.
The Skandia UK chief executive comments there is fierce competition in the
market as shown by Friend's Provident backing down from its launch and by problems faced by Norwich Union's Lifetime.