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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


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