Reyker Securities has criticised a press release from Jarvis Investment Management as offering "noth...
Reyker Securities has criticised a press release from Jarvis Investment Management as offering "nothing new" in the debate on transfer options, saying JIM's offer to double the commission paid by Reyker to IFAs who switch over clients from Invesco Perpetual is "nonsense".
Reyker says the transfer of a £6,000 plan would get an IFA £25 in the first year from Jarvis and £27.50 from Reyker, but that in the second year the IFA would receive "absolutely nothing" from Jarvis.
The IFA would receive £15 from Reyker in the second year, and the firm says its deal is superior because of the 0.25% trail commission.
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