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IFAs are still waiting for depolarisation CD-Rom

IFAs struggling to meet the June 1 depolarisation deadline are still waiting to get an FSA CD-Rom calculator designed to help them with the menu payment system.

The CD-Rom is designed to make it easier for IFAs to work out their maximum commission against the market averages for different types of advice. FSA spokeswoman Vanessa Wood says the calculators were sent to IFAs with the FSA’s monthly CD-Rom handbook in January and February.

But a number of IFAs have contacted Money Marketing, saying they have not had the CD-Rom. Other IFAs, including Buryfield Grange compliance director Ian Pinter, Chambers Morgan James & Co managing director Marlene Shalton and Informed Choice managing director Nick Bamford say they have not heard of the calculator.

Financial Escape managing director Phil Castle says: “I do not know anyone who has received this CD-Rom. This is delaying my preparation for the June 1 deadline.”

Wood says the calculator will be available on the FSA website next month but was not available for further comment.

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