View more on these topics

Ex-LIA presidents in secret summit

A secret crisis meeting took place on Tuesday between the LIA and former presidents who are unhappy with details of the merger with Sofa.

Past presidents at the meeting at the RAC Club in London were Andy Bedford, Gavin Tisshaw, Peter Sprung, Len Warwick, Mike Bousfield, Tony Gordon, Christine Leach, Mike Clarke and Brendan Glennon.

Money Marketing understands that issues raised by the former presidents ranged from dissatisfaction with the loss of designatory letters for LIA members to the lack of grandfathering for some LIA advisers.

The former presidents are believed to be asking why the merger did not involve Sofa coming away from the CII to join with the LIA as well as questioning the LIA about what assets Sofa is bringing to the merger, given the property the LIA will be contributing to the new body.

Before the meeting, one former president said he was unlikely to vote for the merger.

An LIA insider says: “The meeting is a courtesy to the past presidents and does not have particular constitutional relevance.”

Sprung says: “The meeting answered our queries adequately but I would urge LIA members to visit the LIA website to see if there are any issues with the merger that will affect them.”


Alliance & Leicester – Two Year Discounted Rate Standard Package

Type: Discounted-rate mortgage Discounted term: Two years Discount: 2.4% Payable rate:4.44% Minimum loan: £15,000 Maximum loan: Up to 95% of valuation subject to a maximum of £250,000 Income multiples: Up to 95% of valuation &#45 up to 3.3 times principal income plus second or 2.75 times joint, up to 85% of valuation &#45 up to […]

Homeowners could save £8.1bn a year – Clear Cut

The average UK homeowner could save £66.75 a month by switching from their current mortgage to a better product, according to research from Clear Cut Mortgages. Clear Cut says this would reduce the average UK annual household repayment from £5,167 to £4,366 on an average outstanding mortgage balance of £63,250. This would equate to cutting […]

Ritchie sends three wishes for new deal

Pension guru Stewart Ritchie has sent the new Work and Pensions Secretary Alan Johnson his three wishes for pension reform. Scottish Equitable director of pensions development Ritchie has also offered the new minister the goodwill of the pension industry as he starts in his new role. The first wish is unity of purpose between the […]

Furbs past the post

In this week&#39s consideration of unapproved schemes under the new pension tax regime, I would like to look at the post-A-Day position for existing Furbs. Two key questions for those with these schemes are: •Whether to make further contributions and•Whether to leave benefits in the scheme or, if possible, to remove them. Broadly speaking, under […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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