IFAs leading the way with Pep transfers

There is widespread ignorance about Pep transfers among private investors, according to research by Invesco and it is IFAs who are making the largest proportion of total Pep transfers. Of £450m moved in and out of Pep investments during July 2000, only £35m was moved by direct clients to another plan manager, compared with £104m transferred via the intermediary market. The trend is further emphasised by the repurchase numbers which show that £153m was taken out of Peps by direct clients compared with only £23m repurchased via intermediaries. The balance of £135m was moved via tied agent...