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‘Get training on needs of small firms’

The Federation of Small Businesses has called on the Financial Ombudsman Service to raise awareness of its services with small firms.

It says the FOS should receive specialist training on the needs of small businesses and the FSB would advocate a separate service for small companies.

It says: “It would be helpful if staff could be given training about the competing demands that a small business person faces on their time and the multi-functional role they fulfil as a combination of managing director, finance director and human resources director.”

The FSB says it is concerned that when a complaint is referred, a charge is levied against the adviser, regardless of whether the claim is upheld, yet the complainant bears no financial responsibility.

It says: “No disincentive exists to prevent spurious complaints. Although an adviser is given two free investigations, this is inadequate, given the massive problems surrounding endowments and the subsequent increase in complaints.”


Double trouble

An old friend of mine, a seasoned campaigner in the battlefields that can constitute the world of derivatives trading, keeps me up to speed on some of the more esoteric influences on markets. Through him, I learned early on of the impending sub-prime crisis. Such assistance should not go unrewarded so I rang him last week to suggest a convivial lunch by way of a thank you. “Too busy,” he said.

Growing in the wind

Many people are seeking to lead greener lives and are prepared to back their ethical and environmentally aware approach in investment.

Origo launches online registration service

Origo is launching an online agency registration service to allow directly authorised adviser firms to set up trading relationships with numerous product providers using one electronic application.E-commerce standards body Origo says the Adviserwise Agency Registration Service aims to replace the existing paper-based agency registration process, whereby separate agency registrations are required for every product provider […]

ScotEq and Widows join property fund clampdown

Aegon Scottish Equitable and Scottish Widows have closed the door on their UK commercial property funds to prevent an exodus of investors.The firms join Friends Provident which imposed a six-month notice period on its £1.2bn fund in December.Aegon has introduced a deferred period of up to 12 months on its Scottish Equitable fund which applies […]

Retirement - thumbnail

A downhill stroll?

The Department for Work and Pensions (DWP) has recently published new research, which once again demonstrates how the prospect of retirement is changing for older workers.


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