The LIA believes the defined payment system should be replaced by a menu based option allowing consumers choice as to how they pay their adviser.
It fears the introduction of the DPS will force IFAs to migrate out of the sector to become multi-tied which will damage consumers.
The professional body believes IFAs should be able to continue to do be remunerated off of commission as long as their clients are aware of the arrangement.
More than 100,000 consumers asked for IFA details through IFA Promotion's website and hotline in the first quarter of the year.The figure dwarfs last year's six-monthly figure for January to June of 133,000 and puts IFAP well on course to meet its target of 300,000 referrals over the year.Last year, IFAP pointed 250,000 customers tow-ards […]
Prudential chief executive Mark Wood has defended the role of with-profits products, saying they are too important for the country to be killed off.Speaking at Prudential's with-profits roadshow in London last week, Wood said the combination of CP121 and the Sandler review presented challenges for product providers and IFAs alike but he said the Pru […]
Skandia is calling on the FSA to focus on reforming the tied sector – where it believes consumer choice is unreasonably limited – but to adopt a lighter touch for IFAs, as part of its response to CP121.It is proposing a simplified regime with status disclosure and terms of business being replaced by a “needs-based” […]
Monday, April 29, 2002 Type: Guaranteed equity bond Aim: Growth linked to the performance of the FTSE 100 index Minimum investment: Lump sum £1,000 Place of registration: Isle of Man Investment split: 100% linked to the performance of the FTSE 100 index Guarantee: Capital returned in full regardless of the performance of the index Yield: […]
In recent times, we have witnessed high-profile celebrities and sports stars make the headlines for potential tax liabilities on ‘failed’ tax avoidance schemes. We are now used to reading about these individuals, but what about those who advise on such schemes? Read more
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Liberal Democrat MP Stephen Lloyd has tabled an Early Day Motion in parliament to thank advisers who assisted Port Talbot-based steelworkers disadvantaged in the British Steel pension saga. Lloyd, the Liberal Democrat MP for Eastbourne tabled the motion this week as the party’s frontbench spokesman for work and pensions. Henry Tapper: ‘We’ve really made a […]
The chair of Thurrock University Hospitals NHS Foundation Trust, John Govett, has been appointed as the first chief executive of the government’s new single finance guidance body. The Department for Work and Pensions says Govett will assume the post in October for a term of four and a half years. The new guidance body brings […]
The Protection Distributors Group has launched a Claims Charter to address weaknesses in the claims process
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