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IFAP voices menu concern

IFA Promotion has warned the replacement to the menu and IDD must prioritise consumer protection and ensure a level playing field across advice channels.

IFAP chief executive David Elms says he is concerned by the FSA’s announcement that the menu and IDD are to be scrapped and speculation about what will replace them.

He says the documents provided a level-playing field between different advice channels and made it clear to consumers that advice costs money.

Elms says: “The menu and IDD encouraged more advisers to better explain the value of their service and led more consumers to pay for advice by offsetting fees with commission.

“We look forward to working with the FSA to ensure that any replacement continues to meet the original objectives of the menu and IDD.”


An education in self-cert benefits

According to the latest data from the Office of National Statistics (Labour Market Analysis and Summary, November 2006) there are now four million self-employed people who account for 13 per cent of the total workforce. In addition, around one million people have a second job.

ABI figures show steady growth but advisers want breakdown of data

The ABI’s latest new business figures show a marked year on year growth in life and pension sales for the first quarter of 2007.Total annual premium equivalent new business was £4,115bn, an increase of 21.9 per cent from £3,377bn in the first quarter of 2006.Individual pensions business showed a 35.8 per cent increase from £994m […]


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