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Davies denies &#39shoot&#39 story

FSA chairman Howard Davies has rejected reports in a national newspaper that he told the head of a big IFA that he wanted to “round up and shoot all IFAs”.

A story in The Independent last weekend claimed that in a private conversation about polarisation, Davies is alleged to have said: “I am trying to get all the IFAs into a barrel and shoot them one by one.”

Davies called in from his holiday and angrily rejected the claims, saying they did not represent his views.

On Tuesday, the Independent published a brief denial from Davies.

Aifa director general Paul Smee says the article does not reflect his understanding of Davies&#39 feelings on the subject.

FSA spokesman Rob McIvor says: “Howard has not said this to anyone. The story completely misrepresented his views. It is categorically untrue.”


10 commandments of consultants written on water

Here is my selection of the average broker consultant&#39s 10 most used questionable assurances when approaching IFA practices for business: 1: I&#39m here to help you build your business. 2: We have recently restructured our administration divisions to ensure the (atrocious) problems that you have experienced for the last 10 years are now a thing […]

Borrowers look to switch loans ahead of rate rise

Borrowers are increasingly looking to switch their mortgage to take advantage of better deals in anticipation of an increase in rates in the coming months, according to Legal & General. Its research found that 17 per cent of borrowers intend to move their mortgage in the next year compared with 13 per cent in October […]

Aegon buys Momentum

Aegon UK bought another slice of distribution with the purchase of national corporate IFA Momentum for an undisclosed sum. Momentum will retain its current board and identity after the purchase. It was formed by a management buyout from Aon two years ago and has 230 staff including 80 RIs. Momentum is based in Hampshire with […]

MLP cuts full-year profit forecast

German IFA giant MLP which has 40 RIs in London, have revised its full year profit forecasts after recently published half-year results revealed investigations into the company&#39s accounting practices &#39caused great unrest&#39. Allegations of creative accounting by a German online magazine in May and a subsequent raid of its head office by the German public […]

Canada Life annual IHT survey results

75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]


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