View more on these topics

Confusion and chaos will result says Aifa

The intention by the FSA to get rid of polarisation will cause chaos and confusion for consumers says Aifa chairman Lord Hunt of Wirral.

He warns the FSA is damaging the IFA sector in its efforts trying to solve the problem of tied agents only offering a limited range of products.

Wirral says: “It&#39s worrying that the FSA is trying to reform a cornerstone of consumer protection to solve the problem that tied agents can only offer a limited range of products. This will result in industry chaos and confusion for the consumer.”

Recommended

Framlington offers best of British Isa opener

Framlington is starting the Isa season with the launch of its Best of British Isa.The Isa combines two of Framlington&#39s leading UK funds – UK growth and UK smaller companies. It believes the UK represents one of the most robust economies in the world due to low levels of inflation, unemployment and interest rates.Investors can […]

CML lending edges downward

Mortgage lending in November fell by almost 3 per cent to £13.9bn from £15bn in October but was up by 27 per cent on the £10.2bn total in November 2000.The monthly survey by the Council of Mortgage Lenders and the Department of Transport, Local Government and Regions found lending for house purchase declined to £8.6bn […]

Highly charged

This year, I will be celebrating 20 years in financial services. In 1994, I undertook some prudent measures which I believed would provide a stable income instead of the helter-skelter of good month, bad month.Since then, all regular-premium business has been on non-indemnity commission. Furthermore, I have built up over £5m in funds paying trail […]

IFAs faced with reviewing income stream

Consumers will be even more confused as to the status of the advice they are receiving if the FSA&#39s proposals on polarisation and commission are adopted, and IFAs may have to divide their businesses to survive.Jackson Batten Financial Group Managing director Robert Ratcliffe says: “IFAs will be considering dividing their businesses in two halves – […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment