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Focus on problems, not point-scoring


I am replying to Mark Hoban’s comparison between the current level of IFA qualifi-cation and a diploma in shift work from McDonald’s.
There is nothing wrong with setting benchmarks and standards. As I see it, what is at issue here is:

  • The timing and inflexiblility of the new standards, causing real problems for real people.
  • The totally unnecessary ignorant and juvenile point-scoring attitude evident in both politicians and certain people in the FSA.

If the same amount of time spent trying to impress people was used to resolve the genuine problems that many IFAs will experience, we might get somewhere. I do not hold out much hope.

Edward T James & Co


PTFS appoints new head of sales development

Personal Touch Financial Services has appointed Andy Walton to the newly created role of head of sales development. His new role will see him spearhead the network’s regional presence and growth, following the network’s announcement earlier this month that it intends to move from an outsourced regional model to a 10-region, employed model, as revealed […]


Aifa dismay at fee failure

Aifa has expressed disappointment after the FSA rejected its proposals aimed at ensuring that IFAs paid a fairer share of regulatory fees. The trade body first submitted evidence to the regulator in November 2009 which calcul-ated that IFAs paid a disproportionately high proportion of the FSA’s indirect costs compared with providers. Aifa made two proposals […]

Auto-enrolment threshold rises

Employees earning more than the personal income tax allowance of £7,475 will be automatically enrolled into a pension scheme from 2012. The threshold is more than £2,000 higher than Labour’s proposal of £5,035 a year. An optional waiting period of three months has been introduced, during which employees can voluntarily opt in. Self-certification for employers […]

Devile doubts Ucits III strategy can solve counterparty risk

Meteor Asset Management managing director Graham Devile has voiced doubts over the structured product industry’s plans to solve counterparty risk by using the Ucits III regulatory structure. He says the structure is too expensive to be viable and he does not believe it is a panacea to solve the problem of counterparty risk. Providers including […]

DB transfers – one more factor to consider

Jim Grant – Senior Product Insight & Technical Support Analyst We look at how higher DB transfer values could cause a lifetime allowance issue and how that affects the advice process. Advisers are receiving an increasing number of requests from clients looking to transfer their pension from final salary schemes to personal pensions. This is a […]


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