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Accentuate the positive

I am not a pessimist, 30 years in this business and thousands of happy clients but I find it very hard to find any good news about the financial services industry.

This is just a sample of what has been going on:

•With-profits companies are not paying reversionary bonuses and are now withdrawing of terminal bonuses, bringing mortgage shortfalls.

•Termination of companies&#39 appointed representatives&#39 division.

•10,000 occupational pension schemes axed (Opra report).

•Regulator and regulation gone mad.

•Clients&#39 loss of fund values, pensions. Isas, bonds, investments, etc •PI cover premiums now unaffordable.

•Less face-to-face advice to clients.

•All national and local press seems to be bad press.

•Complaints over selling of pensions, endowments, whole of life, mortgages. It now seems nothing is right. But the companies trained and approved the sale of all of these products- •The Government is totally out of touch with reality .

•Fines by FSA. Where do the companies get the money to pay these fines? If it is from the reserves, then this lower the bonuses declared, so if you complain, the FSA fines the company and the policyholders are paying the fine.

•Now, fees or commission? Mortgage regulation. How has this industry survived without all this?

No one ever talks or records all the good that financial planning can do.

Now all this talk about the LIA and Sofa merger. What have the LIA or Sofa ever done to discuss with the Government or FSA about the total mess this industry is now in or what do they intend to do? Nothing, their priority is to merge- jobs for the boys Can anyone find any positive news? It would be nice.

Geoff Kerr

Ballymena, Co Antrim,

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