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‘Apathy’ is killing off middle tier

Advisers have only themselves to blame if the proposals outlined in the retail distribution review discussion paper are brought in, says Pi Financial Dixon Sutcliffe chief executive Tim Sutcliffe.

Sutcliffe says apathy is rife in the IFA sector and this will serve to kill off the “middle tier” of advisers caught in the general financial adviser bracket.

He also believes that consumers have been overlooked by the RDR and says there is nothing pointing to how the proposals will benefit the end-client.

Sutcliffe says: “All this will do is stifle professionalism. Yes, they are giving a pinnacle to aspire to but not everyone will get there or want to. It does not mean that they should no be giving any advice. The strongest motivating force that advisers seem to have is apathy.”

He says although Aifa is working hard to stir advisers into action, advisers ultimately have to take responsibility themselves and respond to the RDR.

Sutcliffe says: “We will have only ourselves to blame if what the providers want ends up happening. There are plenty of financial advisers out there and they all need to take time to respond, answering the 70 questions that the FSA wants answering.”


GMAC-RFC denies claims it has pulled its BDMs off the road

GMAC-RFC has denied claims it has taken its business development managers off the road and says it is sending its BDMs out to meet brokers in order to help with pipeline cases.A number of brokers have contacted Money Marketing expressing their fears that the lender was stepping back from the market.But the lender says its […]

Atkins leaves Premier Mortgage Service

Premier Mortgage Service has announced that PMS head Steve Atkins is resigning from the company. PMS has put out a statement saying that Atkins, who was taken on a year ago as part of a succession plan for managing director John Malone, is leaving but is understood not to be going to another firm.Atkins says: […]

Summer pension spats continue

This week’s pensions news centred around heated debates over in specie contributions, annuity rates and what the stock market volatility could mean for with-profits.


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