View more on these topics

Exam could cut PI costs

The Financial Services Skills Council is piloting a new exam testing the application of technical skills in the workplace which could reduce PI insurance premiums for advisers.

The qualification being tested covers the practical requirements of giving advice, for example, building rapport, fact-finding, analysing information and prioritising the customer&#39s needs.

The pilot has £600,000 of funding from the Learning and Skills Council and is running with Zurich, Standard Life, HSBC, Lloyds TSB and the Teachers Group.

The FSSC says the scheme will open up opportunities for public funding as well as accrediting a process that already happens. It believes it will reduce the risk of FSA fines by creating industry-recognised standards.

Business development manager Michelle Sayers says: “Businesses can ensure advice is as professional as possible and can be assured that the system in their organisation meets industry standards.”

Collegiate marketing and project development director Fergus Chappel says: “This new qualification will not only enable IFAs to demonstrate their commitment to high-quality advice but could also provide professional insurers with a useful new underwriting tool.”


Commentary: Profitable debate

The FSA has published its long-awaited feedback statement to the consultation paper, Treating With-Profits Customers Fairly, which was issued in December 2003. In general terms, the wait has been worthwhile as the FSA has signalled a further period of consultation on the detail of its proposals. From a product provider&#39s perspective, a further period of […]

Ex-board members say merger failure would be a disaster

If the merger between Sofa and the LIA fails to go ahead it will be disastrous for the industry, according to former board members of both organisations. Ex-Sofa director Jo Smith says the merger is for the good of the industry, and if it is rejected by the membership it will be humiliating. She says: […]

In Partnership sets target of 1,000 advisers

IFA In Partnership is looking to raise cash to help it double adviser numbers to 1,000 by the end of next year. The network has 500 advisers but wants to have 750 by the middle of next year and 1,000 by the end of next year, In Partnership plans to float the company in the […]

Marlboro&#39 focuses on outsourcing

Turnover dropped to £49.8m from £56m in the same period in 2003. Profits were down to £1.7m from £2.6m. The company says its main area of focus will be the huge market potential for life and pension outsourcing. It will also continue to develop functionality and business connections for The Exchange. Marketing director Steve Butcher […]


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