View more on these topics

Critically ill IFA lobbies Sants on RDR exams

A terminally ill IFA has appealed to FSA chief executive Hector Sants for special dispensation from QCF level four exams after the regulator confirmed it can grant exemptions for ill or disabled IFAs.

Lighthouse Financial Advice financial planning consultant Cliff Linsdell has been an IFA for more than 40 years and was told by his oncologist that the stress of exams could affect his health.

Linsdell first requested special dispensation in February 2010 from the retail distribution review qualification requirements and was told to contact the FSA in 12 months time. When he did so in March this year, the FSA customer contact centre told him he was required to pass the qualification.

Money Marketing took up his case with the FSA last week. An FSA spokeswoman said advisers can apply for a waiver where they believe a rule would be “unduly burdensome”.

But when asked this week whether Linsdell would qualify for the waiver, the FSA said he would have to apply again, and added that it does not comment on individual cases.

In his letter to Sants, dated March 25, Linsdell says: “I am informed by my oncologist that undue stress will hasten my demise and I am writing to you directly to seek dispensation from the stress of these exams.”

Linsdell writes that he seeks clarification from Sants not just for himself but also for other severely ill or disabled IFAs.

He says: “I would like to know that at the end of 2012, assuming I am still alive, I can continue looking after my clients, who in turn also look after me.”



FSA drops probe into former Gartmore star Rambourg

The Financial Services Authority has dropped its probe into former Gartmore fund manager Guillaume Rambourg. Rambourg was previously co-manager of the group’s European absolute return fund alongside Roger Guy, but was suspended from management duties in March 30, 2010 following an alleged breach of internal dealing rules. Rambourg returned to Gartmore in June 2010 as […]

The Good Mortgage Company searches for buyer

Money Workout, a Southampton-based mortgage brokerage which trades as The Good Mortgage Company, has appointed accountancy firm James Cowper to find a buyer for the business after Octopus pulled its funding. James Cowper partner Peter Whalley says: “The business has experienced some trading difficulties following the downturn in the mortgage market and this has led […]


Pru chief paid £4.7m for 2010

Prudential has paid group chief executive Tidjane Thiam £4.7m for 2010 after he led the company’s failed bid for AIA at a cost of £377m. Prudential’s annual report, published yesterday, shows that Thiam (pictured) will get an annual bonus for last year of £1.57m, as well as £2.1m from a long-term investment plan run by […]

Tax merger may not see full combination

The Institute for Fiscal Studies predicts the proposed merger of National Insurance and income tax will not result in the tax regimes being fully combined. Chancellor George Osborne said last week in the Budget that the Government would consult on merging the operation of the two taxes but added that National Insur- ance would not […]

Pension - thumbnail

David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm