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&#39Sandler must see value of IFAs&#39 – Torquil Clark

The industry should be encouraged to move towards charging fees if it wants to improve professionalism and consumer confidence, says IFA Torquil Clark in its Sandler response.

The IFA says in order to bring further clarity, advice must be separated from product purchase, a move which will increase the likelihood that consumers will view IFAs as offering a professional service.

Torquil Clark says independent advice is essential to combat the growing lack of understanding and confidence consumers suffer about the products themselves.

The firm agrees with Sandler about the lack of adviser knowledge on investment products, saying the general standard is not adequate.


L&G wants compulsion on occupational plans

Legal & General says the Government should reintroduce the right for employers to insist that staff join the occupational pension scheme.The ability to compel employees in this way was scrapped in April 1988 amid concerns that increasingly mobile employment patterns meant it was no longer beneficial to force individuals to save with an employer.But L&G […]

Peter Barrett

Lives: Buxted, East SussexBorn: 1966, West SussexEducation: Left comprehensive school to go to college in East Surrey to study for a diploma in business studiesCareer: Started with admin role with subsidiary of Signa US, Crusader Insurance, In 1989 joined Inter-American International as a director of offshore operations. In 1990 set up his own brokerage in […]

Sun Bank & Genesis compete for attention

Sun Bank and Genesis Home Loans have both introduced buy-to-let mortgages that are fixed until January 1, 2004.Both mortgages are available for loans of up to 75 per cent of valuation, but the Genesis protector buy-to-let mortgage has the most competitive rate. It is fixed at 5.75 per cent while the Sun Bank mortgage is […]

Master/servant fear over FSA loan ad rules

IFAs warn that lenders will take control of many brokers&#39 advertising, which could lead to bland and unimaginative marketing if new FSA mortgage rules are applied.From N3, all intermediaries&#39 product ads must be signed off by a registered individual. But with around half of the 14,000 mortgage brokers not regulated, len-ders are expected to take […]


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