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FSA censures GDT over withdrawal

The FSA has publicly censured GD Tancred Financial Services for not clearly explaining and documenting the risks of income withdrawal to customers with small pension pots. GDT is writing to all income withdrawal customers to make them aware of the risks.

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Delay in Ombudsmans report branded disturbing

The announcement of a further delay to the Parliamentary Ombudsmans report into the collapse of Equitable Life has been branded disturbing by the group of MEPs involved in a separate inquiry.Parliamentary Ombudsman Ann Abraham has written to MPs saying her report will be delayed until at least May next year, taking the total length of […]

Fear that political dogma could mean axe for Asps

Suffolk Life director of sales and marketing John Moret says there is a danger that alternatively secured pensions will be axed in the pre-Budget report because political dogma is overshadowing common sense within the Government. Speaking at the IFP annual conference in Leicester last week, Moret said the Government has got itself into a “pickle” […]

Survey reveals extent of client recycling

Existing customers account for just one-third of IFA’s new business, according to Tillinghast. The consultancy says this implies the majority of new clients are recycled from other advisers and IFAs are failing to provide an ongoing service to customers. Tillinghast associate Joanna Hall says: “A cultural change is needed whereby the current sell and move […]

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