View more on these topics

IFAs are split on Severn

The IFA community is split down the middle over the appointment of FSA head of retail investment policy David Severn as Aifa director-general.

A Money Marketing survey of 182 IFAs found that 48 per cent are in favour of Severn’s appointment while 52 per cent are against it.

Severn, the architect of depolarisation as well as the driving force behind the abandonment of the much criticised defined-payment system, is due to start at Aifa on February 1. Director of policy Fay Goddard has taken on the role in the meantime.

Some IFAs are concerned that Severn’s background as a regulator means he is not the ideal person to take over former director-general Paul Smee’s role. Others are determined that he should be given a chance before being written off as the wrong candidate for the job.

Dennehy Weller & Co managing director Brian Dennehy says: “Shouldn’t we have someone we could all recognise and rally behind? My question is whether someone who has been at the FSA is the right person to do this.”

KS Barrett & Associates proprietor Kim Barrett says: “I think we should give him a chance and if necessary criticise him afterwards. There are too many people who have negative stances on everything. Just because he worked for the FSA does not mean he is an heinous individual.”

Recommended

Gilt trip

LIONTRUSTLiontrust Distribution FundType: Unit trustAim: Income and growth by investing in UK gilts and UK equitiesMinimum investment: Lump sum £2,500, Lump sum £1,000 for Isas and Pep transfersInvestment split: At least 60% in UK gilts, up to 40% in UK equitiesCharges: Initial 5%, annual 1.25%Commission: Initial up to 3%, renewal up to 0.5%Tel: 020 7412 […]

Mortgage View

In May we heard initial details from Gordon Brown on the Governments “Homebuy” scheme. The timing was interesting as the closing date for the consultation was a month later, leaving the suspicion that the consultation process was a charade. More details have now been released on this Government initiative for helping some FTBs. Unfortunately the […]

FAMR – a familiar response

Pension specialist Fiona Tait takes a look at the Financial Advice Market Review and assesses the three areas where it suggests improvements can be made With significant budget changes ruled out (for a while anyway), the pension community briefly turned its attention to the FCA’s final report on its Financial Advice Market Review (FAMR), hoping […]

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