View more on these topics

Aifa on the attack over menu and IDD

Aifa has attacked the FSA over the scrapping of the menu and IDD suggesting it could lead to consumer detriment and affect market transparency.

Aifa public affairs director Tracey Mullins says the statement from the FSA today that the documents have not achieved the objectives of reducing commission levels, increasing the share of advice paid for by fee or reducing provider bias only show a small part of the story.

She says the main objectives of the documents were to provide consumer protection, increase consumer choice and improve market transparency.

Under the stewardship of Paul Smee, Aifa drew up plans for the payment menu as part of a number of measures to provide an alternative to the FSA’s controversial defined payment system. The FSA added on extra requirements such as market average calculations.

Mullins also says the menu created a level playing field between IFAs and banc assurers in terms of disclosure requirements and there is a worry that this is now at risk.

Mullins says: “The FSA has failed to convince the Commission of the genuine benefits of the menu in terms of consumer protection and market transparency. This announcement also raises question marks about a potentially un-level playing field between different types of advice streams.”


Economic picture will change in second half of year

The economic headlines have recently been filled with stories about inflation. The overshoot of the target band, when inflation reached 3.1 per cent in March, came at what might be regarded as an unfortunate time for the monetary policy committee – just when the economic commentators were writing articles about “10 years of the MPC”.

Price and prejudice

A client has been warned that pensions are a waste of money but is property investment a viable alternative?

82% Of IFAs choose protection on price

Price is the deciding factor for 82 per cent of IFAs when choosing a protection provider, according to a survey by Lincoln Financial Group.The research among 192 IFAs shows they value price ahead of service levels, flexibility of underwriting and payout levels.The second most commonly cited reason for recommending a provider was its presence on […]

Under the influencer

Having just ordered dog food, a trip to Spain, home contents insurance and a PS2 Singsong game on the internet, I then skipped through a report from the Interactive Media in Retail Group, an organisation that tracks internet sales.

India rate cut – more to come?

Kunal Desai, Head of Indian Equities at Neptune Investment Management India’s stockmarket rallied this week following news that the central bank was cutting interest rates more aggressively than expected. Commenting on the rate cuts and what this means for India’s economic growth, Kunal Desai notes that there were two important details in the announcement that have […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm