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Anger as adviser asks watchdog for splits&#39 redress

A well-known figure in the financial advice industry has lodged a split-cap complaint with the Financial Ombudsman Service claiming a lack of understanding of the risks in zeroes.

The individual, who has held directorships, has many years experience working in the IFA sector but has asked Leeds firm Pearson Jones for compensation on a split-cap investment on the basis of insufficient understanding of that type of product.

Pearson Jones is unwilling to name the individual who lodged the complaint for client confidentiality reasons but the case highlights the ease with which experienced investors can claim they did not understand products&#39 risk profiles.

Pearson Jones associate director Yvonne Goodwin believes cases such as this, where investors have a clear understanding of investment issues should not get referred to an FOS adjudicator for further consideration.

She says: “I thinks it is outrageous that such a case should get beyond first base with the FOS – a service which was designed to protect consumers, not for use by individuals within the industry itself.”


Merricks fears Public will be confused after depolarisation

Chief financial ombudsman Walter Merricks is concerned about the effects that depolarisation will have on the market and fears it will confuse consumers. Speaking at a round table of IFAs hosted by Money Marketing in London last week, Merricks revealed his concerns about the ability of consumers to be sure about who they can bring […]

We&#39ve got your slumber

There was not much sleeping done by any-one at the recent Senate Conference in Monte Carlo so when Isis fund manager Richard Philbin found himself waiting for transport to Nice Airport, he decided to catch 40 winks at the bus stop. Within seconds, Richard, “famous” after his appearance in the Isis ad campaign, was happily […]


Equity-release deal opens up France, Spain and Portugal

PropertyFinance4Less is offering an international equity-release scheme for overseas property owners. The product, when combined with a currency account and overseas payment plan from sister company Currencies4Less, allows people with homes in Spain, France and Portugal to release the equity in their properties, which is not permitted in these countries’ domestic markets. The scheme is […]

IFAs could boost annuities with a fact-find on health

Thousands of people are missing out on extra income because IFAs are not asking health questions, says GE Life. The annuity provider believes many intermediaries are unaware their clients could qualify for an enhanced annuity because the they are not asking clients questions about qualifying conditions. The firm says people may not mention their conditions […]

Why prevention is better than cure

Quoting the famous adage, prevention is better than cure; there are many proactive benefits that can improve wellness in the workplace, decrease stress, increase staff morale and reduce absenteeism, as well as attracting and retaining employees of a higher standard. With a recent study showing that employees in Britain are working below peak productivity, preventative benefits can ensure you address potential health issues or causes of stress at their source and ensure productivity in the workplace remains at an optimum level. With this in mind, how are you using preventative benefits to help keep your workforce happy and healthy?


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