View more on these topics

&#39IFAs must improve consumer relations&#39

M&E members have given short shrift to Financial Services Consumer Panel

chairwoman Barbara Saunders over remarks that IFAs must improve consumer

relations to remain competitive.

Speaking at the conference last week, Saunders said advisers must improve

relations with clients and educate them more on their financial needs.

She said many of the attitudes that members of thepublic have of their

financial health are inaccurate. Saunders cites the example that 41 per

cent of the public describe themselves as experienced savers yet 30 per

cent have no money to save.

Saunders refused to go into specifics about the survey as it is not due

to be released until next week but she said people were more likely to turn

to friends or family for advice than IFAs. She also said some respondents

did not trust the advice they got from IFAs.

She conceded the survey also looked at direct sales rather than dealing specifically with IFAs.

Delegates were unimpressed by some of Saunders&#39 remarks. One IFA asked how

she could say he needed to improve his consumer skills when he had been

dealingwith the public for 30 years.

Another IFA said: “She does not know how to speak topeople. She is being

condescending and insulting.”

After her speech, an IFA said: “I disagree with the comments Barbara

Saunders made. She obviously does not know our market.”


Price is right for EMX

The industry has long fantasised about an electronic messaging system thatcould be used by everyone. Back copies of the trade papers are full ofstories about new electronic systems, failed initiatives, pipe dreams andsome success stories too.When Autif took the lead in the investment fund arena, it was the greenlight for co-operation between fund management houses […]

FSA calling on employers to push pension

Employers will have to take an active part in promoting stakeholderpensions if they are to be successful, claims the FSA.But the pension industry is warning that some employers will be wary ofinvolvement, fearing they may be left to shoulder the blame of anymisselling or misbuying scandal.As a result, providers expect many employers to seek advice […]

Court shuts down Century mortgage accelerator firm

Mortgage broker Century Mortgages and its associate Mortgage ControlServices are to be wound up for misleading their clients and the salesteam.The Department of Trade and Industry petitioned the High Court to closethe companies down on the advice of the Secretary of State for Trade andIndustry who found the companies had not warned clients about thedisadvantages […]

ScotEq offers advisers help on drawdown

Scottish Equitable has produced a CD-Rom to help IFAs explainincome-drawdown plans to consumers.The software highlights potential opportunities for IFAs to sell ScotEq&#39sdraw-down plan and provides inf-ormation about the draw-down market.The CD-Rom has five sections which have been designed to help advisersthrough the entire sales process.The sections include ageneral overview of pensions and retirement optionsavailable, illustrations […]

Time for a new approach to asset allocation

Trevor Greetham, RLAM’s head of multi asset, introduces the recentlylaunched RL GMAPs. Asset allocation has become an increasingly difficult challenge for investors and advisers in the years since the financial crisis. Sometimes violent price swings in stock and commodity markets coupled with the collapse in the rate of interest on bonds have made it harder […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm