Do you agree with calls from FundsNetwork and Standard Life for the FSA to bring in a single key features document for fund supermarkets?Yes “Anything that tidies the process up is a good idea. There is not anything wrong with the current system but it can be a bit confusing at times.” John Kennedy, Sovereign Financial ServicesYes “Sometimes things can get messy so it would be great to only have one KFI but I am not holding my breath as these things do not always happen as you would wish.” Phil James, Simplicity FinancialYes “I am all in favour of that. Anything to reduce bureaucracy and paperwork.” Christopher Le Backhouse, Garrison Investment AnalysisYes “It makes it simpler for the IFA, saves us time and the client is still getting the same advice.” Kieran McDaid, Alphin Insurance ServicesYes “Because it would save us a lot of aggravation. It would be a sensible idea. My desk is full of compliance paper and I think someone should make at least one thing simpler for advisers.” Chris Crowhurst, Ovalmere Financial ConsultantsYes “I would be in favour of it in principal but I think it is impractical and would not work in practice. It would be great to reduce the burden of administration in this way but every product is different and I do not see how this would work.” Nicholas Horsley, PFD Financial ServicesNo “It would be great if it was possible but I do not see how the disclosure would be able to be simplified in this way.” Stephen Wilson, Rothmere Wilson Financial ServicesYes “I do not use platforms at the moment but simplification to areas such as the key features document might make me look again.” Martin Wood, Spectrum Financial Services Money Marketing welcomes readers’ letters for publication. Letters should be sent to: The Editor, Money Marketing, 50 Poland Street, London, W1F 7AX.
Pima wants personal accounts to be linked to Isas to create a more flexible approach to long-term saving. It says a percentage of money in personal accounts should be allowed to be filtered into Isas and believes the move would put consumer demands and real life needs at the heart of pension reform by harnessing […]
Payment protection insurance Britishinsurance.com managing director Simon Burgess says PPI providers and brokers must take heed of the recent regulatory action and improve their products and the sales process
After three months, the consultation period on the Government’s White Paper on pension reform has now ended and there are many elements of the plans that provoke disagreement.
Of all the unit trust sectors, it has to be said that America remains the most disappointing. Whereas most of us can reel off our favourite fund managers in Europe, the UK and the Far East, it becomes so much harder in America where finding consistency of performance is near impossible. One fund which has […]
Written by Mike Riddell29 June 2016 Headlines over the past few days have screamed about record falls in sterling, record low bond yields and massive falls in equity prices. However, if you take a slightly longer view of markets rather than simply the one- or two-day reaction, I think it’s amazing how little markets have […]
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The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]
The Liberal Democrats have branded the government’s decision to delay a pot follows member pension system “incompetent”. The Liberal Democrat spokesman for work and pensions Stephen Lloyd MP says the move by pensions minister Guy Opperman shows how “rudderless” the current government is on pensions policy. Last October Opperman suggested the pot follows member initiative […]
Putting the right people off transferring at the outset will be hugely valuable to the industry but there are issues to address A combination of pension freedoms and the economic circumstances giving rise to historically high transfer values has created a perfect storm in terms of demand for defined benefit transfer advice. Sadly, it has […]