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Aifa warns of confusion at new forms of advice

Aifa is concerned that many intermediaries do not understand the difference between the new forms of advice they will be able to offer in a depolarised world.

Director general Paul Smee says there is a lot of misapprehension in the market over what it will mean for an adviser to be independent, whole of market or multi-tied.

He points to what he des-cribes as a key issue about the difference between a whole-of-market offering and an independent offering, reminding intermediaries that while a whole-of-market adviser does not have to offer a fee option to a customer and an independent adviser does, there is no presumption that a customer will go for the independent adviser&#39s fee-paying option.

Smee says a decision about the status of a business after depolarisation is very important and should not be rushed.

He says: “I want people to be fully aware of their options before they make any decisions and I am concerned that there is a lot of confusion out there at the moment.”


Skipton Building Society – Flexible 3 Year Stepped Discount

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Kensington launches new lender

Kensington is launching a new lender, Money Partners Ltd, which will offer a range of first and second charge mortgage products via mortgage introducers that do not currently recommend Kensington products. Kensington&#39s finance director, Simon Kingdon, will be moving to MPL as finance director. Kensington will acquire the loans originated by MPL. Chief executive John […]

Disparity in underwriting brings HIV test confusion

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Deficiency pleas fall on deaf ears

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