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FSA unveils final rules for basic advice

The FSA has unveiled its final regulations for the new basic advice sales process.

This will be centred around a series of pre-scripted questions to check whether a stakeholder product would be suitable for the customer. A recommendation will then be made based on the consumer’s attitude to savings and risk and current financial position.

FSA director of retail policy Dan Waters says: “We fully support the aim of making it easier for all consumers to have access to the stakeholder products. After considerable research we have developed a lower-cost form of advice that will enable authorised firms to sell the Government’s stakeholder products simply and quickly to consumers, while at the same time making sure they are properly protected.”


Burns Anderson offers route to GI market

Burns Anderson is offering its members an independent route to the general insurance market through a strategic partnership with Berkeley Alexander. Burns Anderson says the agreement will offer members two service propositions: independent advice through a web based quotation system or an introducer service.

Teachers BS pulls out of intermediary market

Teachers Building Society will only service mortgage customers on a direct business basis after problems with arranging its compliant KFI. The building society has received a number of phone calls from intermediaries asking if it can provide a KFI. But due to problems in creating it with features such as displaying fees, it has decided […]

On the level

For those brokers who have made the transition to the regulated world of mortgages, it is time to get on with business but is it business as usual or a case of increased costs and less business coming through the books due to slowing property prices?


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