View more on these topics

Aifa urged not to concede on polarisation

IFAs are pleading with Aifa not to concede to the FSA&#39s arguments on polarisation as it focuses on the detail of the regulator&#39s proposed reforms.

At a stormy Money Marketing IFA UK conference in Exeter last week, IFAs were vocal in their reaction to a presentation by Aifa director of public affairs Tracey Mullins and accused Aifa of defeatism over the core issue of polarisation.

IFA network Falcon Group development director Jeff Will-iams says Aifa presented the view that it was rolling over and accepting the FSA decision.

But Aifa says it is continuing to argue for polarisation to be preserved while preparing detailed responses for a possible depolarised marketplace. Aifa says it has to concentrate on detail because the FSA&#39s consultation paper is so vague.

Compass Associates adviser Ivan Cullum says: “The Aifa speech seemed defeatist. If it is giving us the wrong message, then what it is giving everyone else?”

Williams says: “The feeling in the room was that IFAs have not been strongly represented in the polarisation battle.”

Mullins says: “We will continue to restate the arguments for how polarisation benefits consumers as Paul Smee has done for the last 18 months. You have got to do both.”


ScotMut urges axing defined payment

Scottish Mutual is calling on the FSA to drop the defined payment rules from its depolarisation proposals. It says these has been unnecessarily bundled in and are not required to introduce greater competition. Many IFAs will carry on as before merely dropping the independent epithet, it claims. Pensions and investments development director Leslie Gray says […]

Standard Life – Group Additional Voluntary Contributions

Type: Group AVC. Minimum premium: Monthly £20. Minimum group size: 10. Minimum-maximum ages: 16-75. Fund links: Sterling one, fixed interest one, property one, protection one, structured one, indexed-linked one, managed one, ethical one, international one, stock exchange one, Far East one, European one, Japanese one, North American one, Pacific Basin one, UK equity one, Tracker […]

Gartmore pulls VCT

Gartmore became the second provider in a week to pull its VCT from the market on Friday, blaming difficult market conditions for its lack of success.The Gartmore Premier VCT, which was aiming to reach £25m, has raised just £850,000 since its launch at the start of October. Investors&#39 money will be returned next week.The withdrawal […]

Virgin offers new view on current account loan

Virgin One has revamped its current account mortgage so clients can separate their finances into different categories rather than keeping them as one lump sum.It says customer research revealed that although borrowers were happy managing all their incomings and outgoings through one account, they wanted to be able to look at individual balances such as […]

Canada Life annual IHT survey results

75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]


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