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Broker Talkback

Do you agree with the Competition Commission’s decision to ban point of sale PPI?

Yes 88%
No 12%

No “I don’t think it is a good idea to ban it, people should be given the opportunity for it to be explained to them so they can make an informed decision. However, the banks should be taken to task over the way they have sold it.”

Jeff Parr, Safeguard Financial Management

Yes “It is an unnecessary pressure on customers who usually do not understand the product or how much it is costing them and may not even need it.”

Edward Wilson, Edward Wilson Financial Services

Yes “It has been badly sold in the past by people taking advantage of borrowers unfairly.”

Wendy Johnston, Yoredale Insurance

Yes “It was pushed onto them – sold as an afterthought at the end of the contact and that is not the way to do things.

Tim Brack, Mitchells

Yes “It tends to effectively pressure people into buying it without doing any research into alternatives.”

Stephen Rees, CBG Financial Services

Yes “It is completely missold, and leads consumers to believe it will give them better access to credit.”

Michael Price, Price Ferguson

Yes “I think people need to discuss it with a financial adviser so that they fully understand the policy before they buy it.”

Peter Brown, Asprey Harris

Yes “I don’t think it should be bundled up with other sales as the client needs to know the pros and cons so it should be part of an advised sale. It is as complicated as critical-illness cover.”

Robin Morgan, CES Independent Financial Servicesinvestment


On the defensive

Warren Buffett says: “Be fearful when others are greedy and be greedy when others are fearful”. In October, he put this into practice, buying US equities for his personal account and predicting that “the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up”. There are several reasons why now might be a good time to revisit the equity market.

Mark Page: “A good time to be a European fund manager”

With European markets picking up in early 2015, Mark Page, Artemis European Opportunities Fund manager, discusses the ‘macro’ drivers and whether the improvements are sustainable. Largely driven by economic stimulus by the European Central Bank, European stockmarkets have performed strongly so far in 2015. Mark discusses the relative merits and sustainability of ECB policy with […]


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