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Broker Talkback

Do you think the high-street banks will dominate the financial services market if polarisation is scrapped?

“No.I don&#39t think the high-street banks will have the necessary knowledge of the market. Their activities are too dissipated.”

Andrew Geary, Andrew J. Geary

“No, I don&#39t think they will dominate the market but they will substantially increase their market share.”

Deryk Beeson, Harbour Financial

“Yes. There will be an increase in business and life offices will become more interested in merging or taking over the high-street banks.”

John Burnard, New Life Financial Planning

“Yes I do. I think banks and major direct sales-forces will clean up because they have the financial clout and physical mass to outperform IFAs.”

Chris Eaton, Watson Laurie

“Yes. They are in a position to dominate the market and will use the position of dominance to good effect.”

Barry Woolley, Charter Financial Planning

“Yes because the general public will not perceive the change to polarisation and will go to companies with the biggest advertising budgets.”

Chris McMullen, McMullen (Insurance Brokers)

“No because of the growing understanding of the more sophisticated investor of the value of independent advice.”

Howard Hawkes, Hawkes & Co

“No. They are not proactive enough. If polarisation is scrapped and we have multi-ties, IFAs can still make a good case for independent advice.”

Mike Herdman, MJH & Co

Yes %50

No %50

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