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Down to basics

In last week’s MM, you reported Which?’s criticisms of the ABI’s consumer guidance on basic advice, specifically their assertion that our guidance does not include sufficient reference to consumers’ right of recourse to the FOS.

In fact, the ABI guidance makes it clear that consumers who buy products under basic advice are still protected by the FOS and that those who are dissatisfied with the service they have received can complain to their adviser and the FOS. The guidance also makes the distinction between basic advice and full advice very clear.

Which? were one of many organisations invited by the ABI to take part in the process of formulating the guidance. Unfortunately, they chose not to engage with us.

The ABI is committed to raising both customer service standards and customer confidence in the savings industry. Recently, we announced plans to reform and extend the Raising Standards scheme. We hope that all fair-minded people will want to help us in achieving this objective.

George Hodgson

Director of consumer strategy,

The ABI,

London EC2


Fox joins Suffolk Life

Suffolk Life has appointed David Fox as head of intermediary development.Fox will report to director of sales and marketing John Moret. His responsibilities will include building new relationships with advisers as well as strengthening existing ones.He has over 15 years experience in the pensions and sipps industry including posts at Winterthur Life and Standard Life.Moret […]

Threadneedle bonds with absolute returns

Threadneedle Investments has brought out the absolute return bond fund, an Oeic that aims to provide a positive return in any stock market environment.The fund will invest in bonds, bond market derivatives and money market instruments under the Ucits III directive. It aims to beat a cash benchmark a target of 60 per cent above […]

Financial Express revamps online fund analysis service

Financial Express has relaunched Trustnet Adviser, its fund research and analysis service, with extra tools anda new look. FE says the free online service for advisers has been updated to meet the changing needs of the depolar- ised market. New tools include portfolio scanner, which allows advisers to analyse a port- folio of funds and […]

MFS majors on Meridian

MFS International UK, part of Boston-based MFS Investment Management, has merged its UK, Cayman Islands and Luxemburg fund ranges to create a new Ucits III compliant Sicav range for UK investors, MFS Meridian Funds.

A modern horror story

Every day a quick scan of the news reveals some new horror that will change the lives of those involved forever – the unlucky accident on the way to work, a tragic illness that cuts a young life short or the holiday accident that leaves more than just a scar to cope with. We barely […]


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