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Aifa liability advice for retired IFAs

The Association of Independent Financial Advisers has set up a new service for retired IFAs who are still liable for advice they gave to clients.

Aifa says retired advisers or those who have moved within the industry need to be aware of their liabilities, responsibilities and legal position.

The service will send factsheets on complaints and the regulatory position concerning retired IFAs and time-barring of endowment complaints.

It will address how the Financial Ombudsman Service and the Financial Services Compensation Scheme work after deauthorisation and how to protect personal assets.

Advisers will have access to the Aifa helpline, a referral service to specialist advice and updates on changes to relevant regulation and legislation.


Flight foresees non-dom disaster

Former Conservative Shadow Treasury Chief Secretary Howard Flight is warning that the proposed crackdowns on non-doms by both the Government and Tories may result in widespread unintentional evasion.Flight says up to five million foreigners living in the UK are not registered as non-domiciled for tax purposes but will be required to declare their offshore income […]

Charging into action

In its treating customers fairly work, the FSA has identified six key outcomes, one of which is that products are designed to meet the needs of a target group of customers.

Seismic shift

I have detected a change in attitude towards the retail distribution review among advisers and life companies over the last four weeks. Throughout meetings, conferences and lunchtime discussions, the general tone towards the RDR has been increasingly supportive.

Regional PFS chairman joins Falcon

Personal Finance Society regional chairman Mandy Norman has joined Falcon Group as a registered individual.Norman, regional chair for Bristol and Cheltenham, will work from the group’s Clifton-based head office. She will continue to work with high net worth clients, business owners and employees of local companies. Norman says: “Having known the team at Falcon for […]

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(Another) downhill stroll — retirement planning

A report published this morning by the CIPD (CIPD Employee Outlook March 2015) provides yet more interesting data to the changing landscape of retirement planning. It should be remembered that we are in a period of genuine flux here given that the default retirement age was scrapped three years ago, and new pension freedoms come online in April. Both of these alterations will have a huge impact on how employees plan for their retirement.


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