View more on these topics

&#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?”


Tony Wright-Jones

Putting the right money in the right hands at the right time for clients should be the maxim of any financial adviser. It is even more important for those IFAs that have begun to expand into the global market.As an established IFA company of 25 years, our decision to expand on a UK and worldwide […]

Lynx profits up 20 per cent

Bankhall&#39s parent company Lynx has announced a profit of £11.2 million in the past year, up 20 per cent from its £9.3 million profit in 2000.In its annual results for the year ending September 30 it also confirmed it is in discussions with may lead to an offer for entire company at 120 pence per […]

Before the flood

Most people like a small flutter such as backing a horse in the Grand National. If they win, great. If not, it does not really matter, the stakes involved are not high and it is unlikely to make a big difference to their lives.Each year, however, millions of households take a much bigger gamble and […]

Pink brings out one-property buy-to-let

Pink Home Loans’ two-year fixed rate buy-to-let mortgage is aimed at more modest buy-to-let investors.The mortgage can only be used to buy just one property and not several, as many other competing products allow. It has a fixed rate of 5.8 per cent until January 31, 2004 for loans of up to 80 per cent […]

Cricket - thumbnail

England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.


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