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Broker

Was Michael Portillo right to say IFAs have a moral obligation to help prevent a pension and savings crisis?

Yes “But I think IFAs have always had that moral obligation. The problem is that anything the Government seems to put its hand to has come back to bite IFAs. We need some clarity from them before we can really take that ownership without worrying about what is going to come back on us later.”

Dennis Hall, Yellowtail Financial Planning

Yes “But I would suggest that he is over-egging the pudding with this remark and suggest that it is to grab headlines.”

Duncan Ratley, HW Financial Services

No “We have a responsibility as an industry and that has never changed but we cannot force people to plan for the future.”

Andy Durban, Charles Royle & Co

Yes “Morally, of course, we take responsibility but if we are not given the tool and the ground rules keep changing, it is difficult. We need a set of rules that last more than five months.”

Henri Berest, Strategic Financial Solutions

Yes “Every adviser has that responsibility and you would be hard pressed to find someone that did not agree with that statement.”

Clive Wooley, Financial Solutions

No “It is the Government’s responsibility. If they want us to deal with it, they can pay us.”

David Thompson, David Thompson IFA Simon Ainscough, Apogee Financial Management

Yes “I can agree with his thoughts in principle but I think moral is quite a strong word. I do feel responsible to my clients, that may be seen as a moral obligation. I think the word moral should be kept out of financial services and restricted to use in religion or politics.”

Dominic Mansley, Key Financial Planning Money Marketing welcomes readers’ letters for publication. Letters should be sent to: The Editor, Money Marketing, 50 Poland Street, London, W1F 7AX.

Letters can also be faxed on 020 7943 8097 or sent by email to: john.lappin@ centaur.co.UKadvice

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