UK event to examine distribution channels

Limited space is still available for PWM readers who wish to attend the fourth in the European Fund Series of afternoon conferences. The event, sponsored by BNP PAM, will focus on initiatives and regulations in the UK distribution market. The afternoon conference, to be held at the London Stock Exchange on 4 May, will address pertinent issues such as depolarisation, bank distribution of investment products, the emergence of multi-managers, the secrets of fund selection and the changing role of private banks. The keynote speaker, Sir Mark Weinberg, who founded the Abbey Life and Hambro Life insurance companies, and was one of the main faces working for the UK regulator during the 1980s, will deliver an address concentrating on evolving business models in wealth management. As president of St James’s Place, Sir Mark has helped develop a unique hybrid model of doing business in this market. He employs a direct sales force, who model themselves more on private bankers rather than traditional financial advisers. They are tied to selling products created by St James’s Place. Yet the products are outsourced on a sub-advisory basis, so in reality, clients are given a choice of underlying fund managers for their investments. The model has some similarities to that advocated by James Bevan, chief investment officer at Abbey, another leading speaker at the event. However, Abbey differs in that as a high-street banking network, its sub-advised products are delivered by staff in the branches, or sold to the mass market through life insurance subsidiaries. Panel debates will include contributions from Steven Ingledew, head of IFAs at Barclays, who has achieved some success in recruiting new independent advisers to work in the bank branches. Antony John, now fronting the growing multi-manager business at IMS, will also contribute to the fund selection debate, as will Christian Elsmark, head of business development at Fundquest Europe. Register at www.ftbusinessevents.com or e-mail financeevent@ft.com.