View more on these topics

FSA release PI guide

The regulator has published a guide to getting professional indemnity insurance in a bid to give IFAs a greater insight into the PI market.

The guide includes information on how IFAs can improve their systems and present their risk more effectively to insurers. The guide runs through some of the factors that PI providers take into account, including the advisers-to-support staff ratio, compliance, control systems and monitoring, volume of past business, qualifications and experience, regulatory visits and disciplinary record, and claims records and complaints log.

FSA director of investment firms David Kenmir says: “We want to help IFAs present their businesses in the best possible light. Experience picked up from our discussions with firms and with the professional indemnity market has shown that a good quality presentation to an insurer could make all the difference. We hope this booklet will help firms to provide comprehensive and relevant information to their Insurers.”



Transfer advice has become impossible

I have recently been involved with yet another complaint, which has been referred to the Financial Ombudsman.I specialise in transfers of occupational pension schemes, and I am now of the opinion that it is not possible to give advice in this area and be compliant.It may be of interest to other IFAs working in the […]

Bristol & West go for family affair

BRISTOL & WEST Family Protected Savings Plan Type: Capital-protected unit-linked endowment Aim: Growth linked to the performance of the FTSE 100, S&P 500, Nikkei 225 and Swiss Market Index Minimum sum assured/premium investment: £2,250/£25 a month Term: 10 years Return: Up to 85% growth in the indicesGuarantee: Original capital returned in full at end of […]

Std Life Healthcare launches into PMI cost plus sector

Standard Life Healthcare is launching into the cost plus sector of the private medical insurance sector. Cost Plus is aimed at larger companies who have large and stable volumes of medical insurance claims and want an alternative to a fully insured scheme. With cost plus, the company agrees a claims fund with the insurer who […]

FSA fines Deloitte & Touche Wealth Management £750,000

FSA has fined Deloitte & Touche Wealth Management £750,000 for what it calls serious compliance failings and for not taking “reasonable steps” to complete both Phase 1 and 2 of its Pensions Review within set standards and to regulatory deadlines. The regulator says these failings are particularly serious in light of the fact that DTWM&#39s […]


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 thought leadership.

    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