Surely, the point of being an IFA is that the IFA places another search into the equation – that of which wrapper product is most suitable for the client.
A St James’s Place salesman is forced down the road of offering only his own company’s product and is subject to regular targets which will colour his judgement.
I would be interested to hear that Mr Hobbs has no axe to grind in this debate. However, I see from his website that he may have a lot to lose if the present FSA suggestions bear fruit.
Director, Backhouse Independent Financial Services,