View more on these topics

Benefits lost since PFS transfer

I refer to the article in Money Marketing where John Ellis takes some unusual stances over important matters to do with commission and the absurd report from the CRA.

I have been in corres-pondence with him regarding the fact that the PFS excludes all members below AFPC from the public IFA search facility on its website. John’s view appears to be that it is persmissible to do this in the interests of “raising standards” and it is contained in a very small paragraph in the booklet sent out prior to the merger. Needless to say, it was impossible to vote for the merger (which I did not supp-ort) but avoid being disenfran-chised. John tells me that to place a motion to restore all members to the facility would require me to get written supp-ort from at least 5 per cent of members which means 1,275 signatures. The PFS will not give me a list of members due to the Data Protection Act.

I have discovered that the LIA legal helpline is no more although I understand that the PFS may be doing something about providing one in the future, whenever that may be.

Let us look at the benefits since being transferred to PFS.

May I remind both the PFS and members that renewal subscriptions are due at the end of the year. This should direct the minds of the PFS and members as to where their interests should be. Ironcially, it should be the same place but up to now it patently is not.

David BarnettDPB Independent Financial Services,

Edgware, Middlesex


PFS has not had its final say on commission

I am afraid that Harry Katz in his recent letter in Money Marketing headlined, Prac-tical knowledge beats the consultants, does not clearly reflect the context in which I commented about the ABI commission paper. The fact is that we are putting together a response to the ABI. We have asked for member comments and so […]

Treasury looks to address advice gap

By Jamie Clark, Business Development Manager, Royal London Hot on the heels of consultations on tax relief and pension transfers and early-exit charges comes a new investigation into the advice gap, and how this can be bridged. Ever since the new pensions freedoms were introduced, concerns have been raised about how people can get access […]


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