FSA passive-only ruling was 'hallelujah' moment - adviser

Steve Laird owner of Belfast-based Carrington Wealth Management argued that considering a full range of passive and active investments is essential for advisers looking to offering a full independent service. "I'm glad the FSA has acknowledged this," he said, "hallelujah". He continued: "For example, the recent discussion about Neil Woodford not being worth the money is crazy, [some press reports have argued that his size limits his ability to enter and exit positions]. You might pay 150bps for an actively managed fund like this but chances are over the medium to long term it will ...