FT

Where now for adviser firms who want to make their own investment decisions?

When I was growing up the subject of ‘polarising' debates - hot button issues guaranteed to turn us into a steaming potage of rage - was largely reserved for flying saucers and curly wurlies.

Over the last few weeks, I have had a number of conversations with innovative fund providers about everything from a new managed commodities fund run by a boutique, through to a macro asset allocation fund launched by a large investment bank.

I am not going to bore you with my applause for the FSA's recent RDR proposals - anything that moves us away from the current system is going to get my vote, especially if it forces investors to ditch their myopia on commission-based fees and ‘encourages'...

Tim Bond, BarCap's head of asset allocation, is a fairly balanced chap and is paid to take a considered view of most things, balancing out competing forces at work in the global economy, teasing out how they will impact actual investment policy.

Oh how I laugh when I get emails from PRs suggesting that the residential property is bottoming out and Acme Fund Management is preparing "a recovery fund to take advantage of the very special opportunities".

One of my greatest disappointments with the nominee-based electronic share dealing systems operated by most brokers - especially the cheapo ones I use - is that you do not get the paper reports and accounts sent to you.