View more on these topics

Editor’s comment of the week: FSCS reforms are not credible or fair

Comment relating to online article: Adviser costs could rise in FSCS funding overhaul

Got to love all the soundbites they use – stakeholder, engage, fair, unpin confidence. It is like listening to the old (new) Labour spin machines. Sounds impressive but actually means nothing.

The only answer for a credible compensation scheme is a product levy. Right now we have those who are doing the job right, by identifying and avoiding weak or questionable products/service providers, paying for a failed regulatory process that misses the problems in the first place.

Hardly credible or fair, especially when my clients are paying for this.

Greg Heath

Recommended

Rob Reid glasses 150

Rob Reid: Look to the long term

Just as Wallace takes a simplistic approach to Gromit, offering him “more cheese”, as if that is the solution to everything, Wallace’s lookalike, one Ed Milliband, took the same approach to pensions. Now forgive me but I thought the key task was to encourage people to save. Telling them that all pensions are bad is […]

AFH Financial Group secures £660k to fund acquisitions

IFA firm AFH Financial Group has raised around £660,000 to fund potential acquisitions. The firm’s most recent acquisition was a £725,000 deal for Cheltenham-based IFA firm Specialist Solutions, which was fined £35,000 by the FSA in April 2011 for promoting unregulated collective investment schemes to clients without properly assessing suitability. The acquisition was the firm’s […]

Plugging the advice gap

The RDR is predicted to exclude many people from advice but there are big opportunities for any business that can crack this market

FSA fines Turkish Bank £294k for anti-money laundering failings

The FSA has fined Turkish Bank (UK) £294,000 for widespread money laundering breaches which created an “unacceptable risk” that the bank could be used to launder money. Between December 2007 and July 2010 TBUK provided correspondent banking services for nine Turkish Banks and six banks in Northern Cyprus. Correspondent banking involves the provision of cross […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com