View more on these topics

AMI says panel out of touch over non-advised loan sales

The Association of Mortgage Intermediaries claims the Financial Services Consumer Panel is out of touch with consumers’ needs after it called for the FSA to scrap its proposed ban on non-advised mortgage sales.

The FSA’s final mortgage market review paper, published in December, proposes to ban non-advised mortgage sales for all borrowers apart from high- net-worth clients and mortgage professionals.

Last week, the panel called for the FSA to remove this proposal from its final rules for all except equity release and sale and rent-back customers, FTBs and cre- dit-impaired borrowers, saying it inhibits shopping around.

Ami director Robert Sinclair says: “There is a gap between what the panel think consumers want and what they actually need. I think they have lost perspective of how this would affect all consumers.”

FSCP chairman Adam Phillips says: “We are all consumers of financial products. We are saying certain groups of people need advice but there should be an opportunity to opt out.”

John Charcol senior technical manager Ray Boulger says: “I do not think the consumer panel is putting enough value on the benefits of advice.”



1,400 Advisers still to start RDR studies

Aifa research suggests as many as 1,400 advisers who intend to stay in the market after the RDR have not yet started the qualification process. The figure is based on NMG research, commissioned by Aifa, of 313 advisers from March this year. Aifa has set out the final deadlines that advisers who are yet to […]

Small wonders

For those brave enough to invest part of their savings in the UK stockmarket, 2011 could be summed up as a roller-coaster ride and the start of 2012 has not been without investment shocks either – witness Tesco’s first profit warning in more than 20 years. But despite the talk of euro-zone and sovereign debt […]

Choose life…

Sarah Scott  – Marketing Consultant, Royal London  This month sees the return of Renton, Sickboy, Begbie and Spud in the sequel to the film Trainspotting. Just over 20 years later, we return to see exactly how life treated the characters whose lifestyle was less than ideal back in 1996. Did they choose a job, choose […]


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