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Bungle busting or bust?

As the great power struggle among providers and distributors created by CP121 continues, there is one issue which could prove deadly to many a multi-ambition.

The decades-old bugbear of the IFA – poor service standards – has not gone away as this week&#39s Money Marketing proves.

At a time when everything is up for grabs, service standards will not remain a side-issue but could become fundamental to any intermediary&#39s choice of provider in terms of what is stocked on its distributor shelves.

Promises of a return to a 3 per cent world – the grapevine tells us that such unspeakable phrases are being spoken by some of the more cavalier provider consultants – pale to nothing if any intermediary thinks he or she will have to spend three-quarters of his or her working life ironing out the bungles when the admin department gets hold of the application.

But it is not just the interests of those firms which may want to tie that should be considered. The dash for distribution currently looks less like a race and more like something from It&#39s a Knockout.

Because the whole market will be in turmoil, letting down IFAs, whether defined payment “independents” or authorised financial advisers, will be a massive gamble.

Of course, there is a horror story for every provider. Most advisers can forgive one or two misdemeanours.

But those on the list of usual suspects should get themselves out on bail as soon as possible or they may end up going down.

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