View more on these topics

‘IFA professionalism can silence critics’

IFAs must focus on improving their professional standards and leave fighting injustices to Aifa, says Sesame chief executive Patrick Gale.

Gale says professionalism is key to the future success of independent financial advice and the best means of rebuffing condemnation from the consumer press and Government policymakers that focus on the cost of advice rather than its value.

He says advisers are in a strong position because they write over 65 per cent of the UK’s life and pension business and IFAs should be proud of the job they do, not feel downtrodden by critics.

Gale believes principle-based regulation will bring a lighter touch and advantages for consumers and advisers.

He says: “Professionalism will be the key to the future as it is about doing what is best for the customer. We need to focus our trade body on the injustices in the industry but we need to get everyone else focused on professionalism. I am not saying it is perfect out there but there are more important things to spend time and money on. Let us just get on with improving levels of professionalism.”

Recommended

FSA screens letters to non-execs

The FSA is intercepting lobbying letters sent to its non-executive directors by trade bodies and other organisations. The move has been attacked by lawyers, with Fishburn Law partner Andrew Davis saying the action is regrettable at a time when the principle of increasing non-executive responsibility is growing in importance. Davis says the FSA should be […]

FSA feared a rise in Millfield cash deficit

Millfield Partnership Limited’s capital adequacy deficit would have risen to 7m by February 2007 if the FSA had not pulled the plug on the firm. The regulator, in its final notice to MPL, said the firm failed to provide a viable proposal to rectify its 4.5m deficit and it was therefore forced to remove the […]

Home truths

Prosperity doth bewitch men, seeming clear, as seas do laugh, show white, when rocks are near.”

Hamptons wants APRs scrapped

Hamptons International Mortgages has called for APRs on mortgage products to be scrapped. It argues that the trend of remortgaging has made the APR redundant because the movement of standard variable rates over two decades is impossible to predict, meaning that the calculation of an APR is flawed. It also believes that as remortgaging increases, […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com