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76% see no opportunity for entrants in proposals

Few IFAs believe the regulator&#39s proposals for polarisation will encourage new blood into the business and open up the market to new entrants.

These are two of the FSA&#39s stated objectives of its review of the polarisation regime.

Findings from George Street show that 76 per cent of IFAs are not willing to look at the creation of a lower tier of advice as an opportunity to recruit new advisers for their businesses. IFAs also do not think the generic or second-tier advi-ser will motivate lower earners to take advice, with 82 per cent say they do not think this proposal will be successful.

Baronworth Investment Services director Colin Jackson says: “It is not depolarisation or anything else that will get new people into the business.

“I think it is very condescending to lower earners as well. It is telling them they are effectively being offered a second-rate service because they are on less money.”


New mortgage range from B&W

Bristol & West is launching a new range of products that includes a five year fixed rate mortgage at 5.49 per cent and a seven year fixed rate at 5.55 per cent. Both products are available up to 95 per cent loan to value.Bristol & West is also offering a five year fixed buy to […]

National Savings and Investments – Guaranteed Equity Bond

Wednesday, March 13, 2002Type: Guaranteed equity bondAim: Growth linked to the FTSE 100 indexMinimum-maximum investment: £2,000-£1mTerm: Five yearsGuarantee: Capital returned in full at end of term regardless ofmovement in indexReturn: Capital along with up to 65% growth in the FTSE 100indexInterest rate: 3.5% gross a yearClosing date: April 17, 2002Commission: NoneTel: 0845 9645000

Genesis Home Loans Planets & Moons Saturn

Genesis Home Loans Planets and Moons Saturn Type: One-yeariscountDiscounted term: Until June 1 2003Discount: 1.6%Payable rate: Full status – 5.77%, self-certification — 6.27%Minimum loan: £25,001Maximum loan: £750,000Income multiples: 3.5 x plus 1 or 3 x jointArrangement fee: £395Redemption fee: 6% in year one, 6% in year two, 5% in year three, thereafter 1% or one […]

£1.2bn of benefits left unclaimed

More than £1.2bn of pensioner benefits is lying unclaimed because up to 3m pensioners are not claiming all the state benefits they are entitled to, according to new research from Prudential. It says pensioners could be missing out on £127 a year by not claiming the three main benefits – income support, housing benefit and […]


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