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Criticism of changes to tables

The FSA&#39s league tables should be changed to illustrate the differences in costs between going to an IFA and other distribution channels according to review chief Ron Sandler.
The league tables, which have been pilloried in the past for their over-reliance on charges, would effectively be split showing two prices one for IFAs and one for product distributors.
The first table would show a “representative wholesale price” or the costs before distribution for IFAs and the second a “representative retail price” based on average commission levels for distributors.
However the move has been greeted with scepticism by the providers and IFAs, who claim it would cost a lot for little advantage.
Informed Choice managing director Nick Bamford says: “Do we end up having a situation where we are aware of what the price is for everything but not what the value of anything is?”
Skandia senior manager research and development Brian Newbould says: “It suffers a bit because it means providers would have to change all our products and all our systems to accommodate this change. It seems to be an enormous amount of work to get precious little change for the good.”


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When is £1m not £1m?

Neil Jones is technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The residential nil-rate band (RNRB) was first announced in […]


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