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Early day motion backs our campaign

Fifty-seven cross-party MPs have signed an early day motion backing Money Marketing’s No Advice No Protection campaign.

The EDM was tabled by LibDem small business spokeswoman Lorely Burt in March to highlight concerns over the lack of consumer awareness about direct sales having no redress to the Financial Ombudsman Service. It calls for the Government to ensure that companies selling life insurance and protection products make this clear to consumers.

Support has come from 25 Labour MPs, 11 Tories and 18 LibDems, including LibDem Shadow Chancellor Vince Cable, LibDem former home affairs spokesman Mark Oaten and Treasury select committee member Andy Love, and three MPs from other parties.

The EDM says: “This house notes with growing concern the dramatic increase in recent years in the sale of life insurance and other protection products on a non-advised basis and the subsequent potential for large-scale misbuying.”

Last month, Treasury Economic Secretary Ed Balls called for distinctions to be made between advised and non-advised sales of insurance policies.

Lifesearch, which has been a supporter of MM’s campaign, is to meet with MPs to encourage them to raise questions in Parliament.

Head of protection strategy Kevin Carr says: “We are very pleased with the number of MPs that have signed the EDM. The Treasury has been in touch with us on a number of occasions to get more information on this issue.”


Edmans urges Nationwide to enter equity release

Safe Home Income Plans chairman Laurie Edmans is calling on Nationwide to enter the equity-release market. The former Aegon stalwart believes the society’s ethical background would help the market build a reputation with the public although he understands its reticence about going into the sector. Earlier this year, Nationwide chief executive Philip Williamson said the […]

Called to the bar

Bristol-based design agency Fanatic Design is perhaps taking the stereotype too far after turning Bristol & West Investments’ stand at the recent Manchester Expo into a pub, complete with bar, dartboard and even an animated landlord. It was meant to represent, er, Bristol & West’s short-term lending service – more like short-term memory loss if […]

Boleat to take on chasers

Ex-ABI chief will work part-time and says claim firms and advisers that dodge regulation will be prosecuted

At your discretion

Recently I saw a new client who was dissatisfied with her existing discretionary fund managers and felt that her portfolio needed to be refreshed. She left us with details of the portfolio, so we were able to analyse what she had.

Qatar cover image - thumbnail

White paper — Qatar International Insights

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