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Aifa accepts idea for advice

Aifa says it is keen to work with consumer bodies to develop a new type of

generic adviser, offering free or lowcost advice to lower-income


It says it now supports the debate on increasing access to financial

advice after it had expressed initial concern over the Consumers&#39

Association and the FS Consumer Panel&#39s suggestion of creating a

“para-financial adviser” offering a first stage of basic advice.

Aifa director general Paul Smee says the CA&#39s response suggesting the need

for a new generic adviser is interesting and challenging. But he is calling

for research into whether the perceived gap in the market to provide

affordable advice to low-income groups is real.

He says the concept of a generic adviser needs testing, areas of

responsibility clarified and they should be part of an advice framework to

ensure people are passed onto an IFA for further specific advice.

Aifa also says the Government should investigate a means of funding such


This week marks the last chance to win a £10,000 makeover for your

garden, courtesy of Merrill Lynch Investment Managers. To win the chance to

create your own garden or win one of 30 pairs of tickets to the Chelsea

Flower Show on May 24 or 25, sponsored by Merrill,simply answer the three

questions on page 22.



Nationwide in shift on discounts

Nationwide will do a U-turn on its pledge not to reintroduce discountmortgages if rivals such as Abbey National and Halifax refuse to changetheir pricing policies. The shock admission comes after months of plummeting sales for the UK&#39sbiggest building society following its decision in February to dropcut-price loans. Nationwide has previously dismissed suggestions by IFAs it […]

Inter-Alliance top for growth

IFAs are among some of the fastest-growing companies in the UK, accordingto a survey by management consultancy Deloitte & Touche. The Deloitte & Touche Indy 100 survey of companies in the UKmiddle-business market found Inter-Alliance and Bank-hall InvestmentAssociates to be among the 100 best-performing companies in the UK.Inter-Alliance took seventh position and Bankhall was 43rd. […]

A place in the sum

I attended a recent presentation at work about stakeholder pensions andwould like to start investing in one. However, although I am 30 years oldand a higher-rate taxpayer, I feel that I cannot afford to pay in anythingin at present as I would have to cut back on my current non-essentialexpenditure in order to be able […]

Best buy tables &#39open to manipulation&#39 says Daily Mail

The Daily Mail may revise its best buy tables according to its personal finance editor Jeff Prestridge.Speaking at a debate at the Building Society Conference in Harrogate today Prestridge admitted tables in general could be open to manipulation by lenders.He invited building societies to suggest ways in which such tables might be revised to better […]


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