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ABI claims that IFAs want quality marks extended

IFAs would like to see the ABI&#39s Raising Standards quality mark extended to mortgages and financial advice, according to a survey conducted by the ABI&#39s for its Saltr initiative.

The research with 21 IFAs was undertaken early this month and revealed more than 76 per cent – 16 of those surveyed – said where there is little to choose between product features, they would actively recommend products from providers which had met a set of minimum standards.

Eighty per cent thought improved customer service standards would reduce customer problems and the time they would have to spend sorting problems out.

More than 80 per cent of thought the comparability features of Raising Standards would help them explain products and complex charges.

When asked what they would like to see Raising Standards cover, the respondents said they would like to see the scheme extended beyond pensions, investments and protection products to mortgages and even to minimum standards of advice.

Syndaxi Financial Planning principal Robert Reid says: “Advice is a subjective thing where two different IFAs could give quite different, but reasonable advice to the same client. Which is right?”


Network Data makes three top appointments

Independent mortgage and general insurance sourcing software provider Network Data is making three senior appointments this week.Peter Gladdy, Alex Cotton and Terry Young are joining to fill the respective positions of national sales manager, marketing manager and head of Mortgage Clearing Centre, Network Data&#39s service to intermediaries.Managing director Richard Griffiths says: “The track records of […]

Life offices face upheaval in Baird bid to update solvency

Life offices are braced for the biggest regulatory shake-up in years following sweeping recommendations from the FSA&#39s Equitable inquiry on solvency requirements.The recommendations are part of the Baird report on the FSA&#39s handling of Equitable Life. They could see current practices scrapped, including the use of future profits and reinsurance contracts to boost headline financial […]

&#39Sandler must see value of IFAs&#39 – Bankhall

Bankhall support services group emphasises the distinction between independent and tied advice in its response to Sandler and calls on him to recognise the value of IFAs.Bankhall describes an IFA as a “personal shopper” who resear-ches the whole market on behalf of the client, who recognises the value that this comprehensive service provides them.The firm […]

Leeds & Holbeck – Platinum Access Bond

Friday, 26 October 2001.Type: Unit linked bond and high interest account combined.Aim: Income and growth by investing in Norwich Union platinum portfolio plan.UNIT LINKED BONDMinimum investment: Lump sum £5,000.Fund links: With-profits, with-profits income, guaranteed, sustainable future managed, defensive managed, cautious managed, balanced managed, sustainable future corporate, sustainable future UK growth, sustainable European growth, sustainable future […]

The death of retirement – a boost for protection?

According to our recent report on the death of retirement, changes in workplace pension provision mean that coming generations of retirees could have a radically different experience of retirement from their parents. The average contribution rate into an old-style final salary pension was around 20% of total wages, the statutory minimum for a new automatic […]


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