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Consumers will be the losers, say 92% of advisers

Ninety-two per cent of IFAs think consumers will be worse off following the FSA&#39s proposed changes to polarisation, with only 6 per cent believing the public will benefit.

The finding comes des-pite the FSA consistently maintaining that consumers will benefit most from the changes.

The numbers did not vary depending on region or income, with independent advisers from all parts of the country earning varying amounts claiming that the changes will almost certainly have a detrimental effect on consumers.

Only 13 respondents out of 233 said consumers would benefit from the changes.

One adviser said there will be better value for money and two IFAs believe better advice will be available.

The FSA has refused to comment on the results of the survey.

IFA Pensions & Investment Management principal Phil Moore says: “We are going to have to re-educate the consumer about what multi-ties will look like and we do not even know that at this point.

“I think it will be three to five years until the consumer understands what is available on the marketplace again.”


Zurich group chief exec steps down

Zurich group chief executive Rolf Huppi has announced he will step down and concentrate on his role as chairman of the board by mid-2002. Huppi joined Zurich Group in 1963 and became chief executive officer in 1991, before being elected chairman of the board in 1995. Zurich says his replacement will be announced at the […]

Inter-Alliance ends Lincoln legal fight

Inter-Alliance has dropped its £35m law suit against Lincoln Financial Group, with both sides paying their own costs in an out of court settlement.Inter-Alliance chief executive Keith Carby, who took over last month, has moved quickly to settle the litigation over a former Lincoln property, started by his predecessor Stuart McGreevy. Carby says the case […]

Tracking the top companies

iShares, an arm of Barclays Global Investors, has brought out the iShares FTSE Eurotop 100 exchange-traded fund. This brings the number of ETFs in their range up to 12.It gives investors the chance to track the FTSE Eurotop 100 index, the largest 100 companies in Europe including the UK. The index is made up of […]

Winning back the defectors

All too often, companies view a lost customer as lost forever. This is as true in financial services – where frequency of purchase is comparatively low – as anywhere. To combat this money marketers have traditionally used continuous customer acquisition programmes.IFAs and providers alike can give in to disappointment, purging customers from databases or banishing […]


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