View more on these topics

Has new review chief Sandler already come to a conclusion?

The man selected to head the Treasury&#39s “son of Myners” review into the retail financial services industry appears to have prejudged the outcome of his inquiry despite only being appointed this week.

Ron Sandler, chairman of City stockbroking firm Kyte and previously NatWest chief operating officer and Lloyd&#39s of London chief executive, is to look at the entire retail financial services sector, including the role played by IFAs.

His appointment follows Gartmore chairman Paul Myners&#39 recommendation of a retail review in his report on institutional investment trends for the Treasury last year.

The review is expected to concentrate on alleged commission bias and the charging structures of financial products as well as levels of competition across the sector.

Despite Treasury claims that he is not speaking to the media, Sandler told the Financial Times this week: “There is prima facie evidence of distortions of the [life insurance] market.” This suggests Sandler has already drawn his own conclusions on the level of competition in the life industry before he has even started.

Aifa director general Paul Smee says: “I look forward to putting to Mr Sandler the case that IFAs are an efficient distribution channel who are actually a force for competition.”

Neither the Treasury nor Sandler was prepared to comment.

l Comment, p25


Standard Life European Private Equity Trust

Standard Life Type: Investment trust. Aim: Growth by investing in private equity funds which invest in unquoted companies. Minimum investment: £50. Maximum investment: No maximum. Investment split: 100 per cent in private equity funds which invest in unquoted companies. Types of share: Ordinary shares. Isa link: No Pep transfers: No. Redemption date: None. Charges: Annual […]

Women are catching men in online banking

While men are still more likely to bank online than women, the gap is closing rapidly, according to a Mori poll for Nationwide.Since December 2000, around 1m women have begun banking online, compared to 600,000 men. Around 3m men now bank online, compared to round 2m women, while 13.5 per cent of all current account […]

Multi-managers on the menu

Most life offices which are serious about distributing pension products through IFAs now offer funds managed by outside investment houses as well as their own. It is almost a case of having to. Their competitors offer this facility and IFAs expect them to offer it too.The offerings typically consist of UK and managed equity funds […]

Jim Roberts

A self-confessed “enlightened socialist”, Skandia director of investments Jim Roberts is ready to attack some of the FSA&#39s stances with vigour. The Liverpudlian is currently leading a protest against the regulator&#39s position that past performance is no guide to the future.At Skandia&#39s Pathfinder conference last week, Roberts announced the life office will be writing to […]

Qatar cover image - thumbnail

White paper — Qatar International Insights

Jelf Employee Benefits highlights new legislation, key requirements and policy considerations when structuring international private medical insurance (IPMI) for expatriate employees in Qatar. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Qatar.


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 advice.

    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