Winterthur Life welcomes the key points in the Sandler report but has expresses concern over proposals to promote products without advice.
It says having actively supported the conceptof IFAs charging fees for advice, it has given the thumbs up to separating payment for financial advice from payment for a product sale.
The firm also endorses the importance that Sandler gives to consumer education, adding that this should be a prime consideration for the future.
Winterthur's concern over the proposal to promote products without advice focuses on the risk of future misselling scandals.
It also points out that any product with an element of equity investment carries an inherent risk of capital loss and stresses that the potential risk of loss needs to be fully understood by the consumer.
View more on these topicsNews
Ivan Martin – exclusive interview
In an exclusive interview with Money Marketing, Misys banking and securities division chief executive Ivan Martin says:Misys intends to float its IFA network businesses within two years, creating a self-contained entity comprising the five networks – Countrywide, DBS, Financial Options, IFA Network and Kestrel and the software arm.Misys is known as a software business – […]
Britannic gives up on finding a buyer
Britannic Group has accepted defeat in finding a buyer for the business as a whole blaming current market conditions.The announcement opens the door to individual buyers being found for Britannic Asset Management, Britannic Retirement Solutions, Britannic Money and Britannic Assurance.Britannic Group chairman Harold Cottam says: “As part of our strategic work we have explored a […]
Flotation 'makes sense' says BBB
Floating its IFA business as a separate entity was always going to make sense for Misys, says competitor Berkeley Berry Birch.Berkeley Berry Birch deputy chief executive Stephen Ingledew says: “This is a fascinating development. I am not surprised as Misys is primarily technology company and having an IFA in there is not part of its […]
LSE shuns equities for its own pension scheme
The London Stock Exchange is itself avoiding the equity markets by transferring its own pension scheme is to move out of equities in favour of fixed interest. Speaking at its AGM last friday LSE chairman Don Cruickshank accepted the decision was ironic. The closed fund will gradually sell the remaining 25 per cent in equities. […]
Why emerging markets are winning gold in 2016
As 11,000 athletes descended on the sporting venues of Rio de Janeiro, the back pages have been awash with news from Brazil. At the same time, the country has been one of the best-performing global equity markets in 2016, with the MSCI Brazil Index up a staggering 79 per cent in sterling terms year-to-date.* Indeed, emerging markets […]
Newsletter
News and expert analysis straight to your inbox
Sign up
Savers rush to top-up pensions amid Budget tinkering fears
Savers are rushing to top-up their pensions amid fears chancellor Philip Hammond will deliver a further cut to the annual allowance in this month’s Budget, Zurich says. Cash flowing into pensions on Zurich’s investment platform soared 98 per cent in September compared to the annual average, the firm has found. The value of one-off pension […]
Financial education creates five-fold return on investment, study finds
Every pound spent on financial education initiates can create more than £5 in social value, a new study finds. Research firm ERS examined the impact of “survival” money management workshops delivered to more than a thousand 16-25-year olds who were either not in work, full-time education or training, or had care responsibilities. They found that […]
1
Tom Selby: New DB transfer rules under the microscope
Despite pressure to come down on the market like a ton of bricks, the FCA has taken a measured approach to improving standards Another week, another barrage of headlines about an FCA intervention on defined benefit pension transfers. The regulator’s latest missive focuses squarely on the standards and processes advisers employ when carrying out pension […]