View more on these topics

‘Icob and Cob are stifling business’

Highclere Financial Services partner Alan Lakey claims that Cob and Icob are restricting and inhibiting the financial services market.

Speaking at a Money Marketing round table, Lakey questioned the relevance of the rules governing the insurance and financial markets.

He said: “Is there any point in having Icob and Cob? To me, it restricts. If it restricts, it stops people selling which stops customers buying and inhibits the market.”

Lakey said advisers are being prevented from selling certain plans, not because the adviser is incapable of advising but because they fall outside Icob and into Cob.

He said: “Regulation should be devised in such a way that it can allow people to focus on the areas they work in and on their strengths.”

Lifesearch head of protection strategy Kevin Carr said doing away with Icob could jeopardise businesses that specialise in protection products.

He said: “With the restriction on regulation, if you just had Cob, I am not sure that companies like us would exist because everyone would have to be a pension expert.”


Roll out the barrel

It is no surprise that funds investing in energy and natural resources have caught investors’ imagination.

The fair sex

As a family lawyer in divorce cases, I often get asked what is the fairest way to share a simple money-purchase pension. Should it be based on half the capital value or equalising income?

Band aid

The introduction of transferable inheritance nil-rate bands for married couples and civil partners continues to provide a massive opportunity for financial advisers to demonstrate their added value to clients and professional introducers.

The FCA’s five fixes for retirement information

The Financial Conduct Authority (FCA) has started to change the way that people will be told about their pension options. In a recent market study paper, they lay out their final proposals on the information that should be delivered to people approaching retirement and how it should look and feel. During 2015, there will be […]


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