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&#39Polarisation not best for consumers&#39

There is a strong case for multi-ties because polarisation is not the best option for consumers, according to M&G sales and marketing director Jeffrey Mushens.

At the Pep & Isa Managers Association Annual Conference in London last week, Mushens said providers, consumers, tied salesforces and some IFAs would benefit from multi-ties.

He questioned whether polarisation was in the best interests of IFAs, pointing out that it was designed by direct salesforce guru Mark Weinberg.

Mushens said the FSA is still considering multi-ties. Regional IFAs and network members would be likely to become multi-tied because it would make economic sense, he said.

But Mushens said providers must be prevented from taking stakes in IFAs rejecting the provider-owned model. He does not believe IFAs who focus on wealthy investors will become multi-tied because clients appreciate their service.

He said: “Lots of consumers are losers under the current regime. IFAs cannot cope with rich customers as it is, why would they want to deal with poor customers?”

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