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FSA releases long-awaited Menu

The FSA has today released the long-awaited Menu for pricing financial services products.

Under the FSA&#39s new proposals, advisers will give all consumers buying retail investment products, such as pensions, life assurance and unit trusts, a guide entitled “A guide to the cost of our services” at the start of any advice-giving situation with a firm.

Currently, advisers have to disclose to the consumer the amount they receive as commission for selling a product. But the FSA believes this is not as effective as it could be in educating consumers about what advice is costing.

FSA head of retail projects David Severn says today&#39s proposals should help give consumers a better idea of their choices and of typical advice costs in the marketplace.

Severn says: “Many consumers remain reluctant to pay up-front fees for financial advice. If consumers want their adviser to take commission, that is their choice. We want consumers to be clear about the amount of commission being paid so they can have confidence that the financial advice they get is not being influenced by the level of commission.”


IFA Care looks to advisers&#39 retired clients

Long-term care training and support specialist IFA Care is extending its brief to become an organisation for advisers focusing on retired clients. Chairman Graham Fidoe said at the firm&#39s annual conference last week that its education programme has been looking at issues such as inheritance tax planning, legal issues, equity release as well as income […]

Personal finance needs more time in classroom

Van den Hende says pfeg is already working to integrate personal finance education within the teaching of maths through a project funded by the DfES. As a pilot scheme, it will run within five UK schools and will provide a framework to potentially roll-out amongst all schools.She says: “Over the next few months pfeg are […]

Ex-Ashley Law advisers in commission claim battle

A former Ashley Law adviser has issued a statutory demand to the Essex company for £7,719 of earnings he says is owed a year after he left. Ned Naylor is one of a group of nine former advisers who are planning a group action for the recovery of around £500,000 which they claim is for […]

L&G bids to boost long-term Euro fixed-rate loans

Legal & General supporting the development of long-term fixed-rate mortgage funding across Europe. Financial economist Andrew Clare says the implementation of such a system in the UK, being considered by Professor David Miles for the Treasury, makes sense but he is more concerned about Europe&#39s mortgage market, which he says needs major attention. He is […]


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