APCIMS backs TISA fund re-registration initiative
The Association of Private Client Investment Managers and Stockbrokers (APCIMS) is the latest organisation to become involved in TISA’s (Tax Incentivised Savings Association) Platform re-registration initiative. A senior representative of APCIMS will now join the major platforms, TPAs (third party administrators), Fund Groups and software providers on the Executive Steering Committee overseeing this re-registration initiative. TISA’s fund re-registration programme has united platforms, third party administrators and fund groups in their efforts to deliver a consumer focused platform re-registration solution.
TISA’s Executive Steering Committee, which was set up to provide a forum for all interested parties last October, is chaired by David Dalton-Brown, head of Barclays Wealth funds and a TISA non-executive director. He commented:
“It is tremendous to have APCIMS’ involvement for this initiative. We are all committed to providing consumers with an effective platform-to-platform re-registration solution. I have no doubt that APCIMS’ contribution will prove invaluable, ensuring that the views and feedback of wealth managers are fully embraced.”
The Committee is facilitating the development of procedures that will enable investors, either directly or via their adviser, to access a platform, wrap or supermarket, register their underlying funds and tax wrapper onto a given platform, transfer between different platforms and transfer off a given platform.
David Bennett, APCIMS’ Chief Executive, said:
“Many of our members have been managing nominee based portfolio services for years, operating their own internal collective funds, as well as accessing external funds for more specialist market exposure. They also run SIPPs and ISAs. So in many cases their situation is not so dissimilar to that of WRAP providers, albeit their distribution is predominantly via their own internal fund managers or brokers, rather than external IFAs. We are therefore very keen to involve ourselves in this programme. We hope an initiative such as this will lead to lower re-registration costs and pre-empt any need for mandatory regulation.”
Ends
For further information, please contact:
David Dalton-Brown, Chairman of TISA’s Re-registration Executive Steering Committee Head of Barclays Wealth Funds, Tel – 020 7114 0878, Mobile: 07775 555165
David Bennett, Chief Executive, APCIMSon 020 7448 7100 or Mobile: 0798 3543529 Email: davidb@apcims.co.uk
Malcolm Small, Director of Portfolio & Retirement Planning, Mobile: 07989 500 771Email: malcolm.small@tisa.uk.com
Issued on behalf of TISA by Cauldron Consulting, contact Steve Radford – Tel: 020 3178 7238, Mobile: 07889 903786 Email: steve.radford@cauldron-consulting.com
Notes for Editors
The Tax Incentivised Savings Association (TISA)
TISA is the premier industry funded body in the UK retail savings and investment industry. By engaging with member firms, government, political parties, regulators and consumer groups TISA’s ultimate goal is always to further consumers’ best interests. It seeks to improve the range, features and quality of savings and investment schemes available whilst encouraging more people to save for their financial security and peace of mind.
Uniquely, TISA is able to articulate the opinions of the whole savings and investments marketplace through its membership comprising over 120 member firms involved in the supply or distribution of products. TISA’s remit extends across the broad spectrum of government sponsored savings and investment vehicles.
The Association of Private Client Investment Managers and Stockbrokers (APCIMS)
APCIMS is the trade association of 217 wealth management and broking firms who, at more than 500 sites across the UK, Ireland and beyond, provide services to private investors.Alistair Reid has been appointed by TISA’s Platform Re-registration Executive Steering Committee to head up the re-registration programme with immediate effect.
Head of the Re-Registration Programme
Alistair Reid was recently appointed Head of the Re-Registration Programme. He was previously Chief Operating Officer (September 2004 – April 2010) at Thornhill Investment Management Ltd, having spent the preceding two and a half years in consultancy and project management. From October 1998 to February 2002 he was a Senior Vice President, Securities Services at J P Morgan Chase and prior to that Managing Director of Morgan Stanley Trust Co (April 1997 to October 1998).