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IFAs feel weight of tribunals

IFAs are spending more time than ever tackling human resources&#39 red tape as the number of staff taking cases to employment tribunals soars, says HR consultancy Peninsula.

The specialist employment law firm says employment tribunal cases rose by 21 per cent from 105,000 in 2002 to 127,000 last year.

The average time that employers spend dealing with human resources and red tape issues has increased from 8.5 hours a week to 9.1 hours, according to Peninsula, which surveyed 86 IFA employers across the UK.

The research shows that 80 per cent of IFAs feel the increase in red tape has restricted growth in their business in the last 12 months.

Managing director Peter Done says: “Employers realise that it is nearly impossible to balance a healthy business alongside the barrage of employment law and health and safety legislation which is being constantly introduced by the Government.”


CTF is complaint waiting to happen

Ever since the child trust fund was announced, I have been trying to work out how my business can afford to take any profitable interest in this new product and Government benefit. I now conclude that, irrespective of the lack of any real prospect of sufficient remuneration to make it worthwhile, this is a future […]

Investors and IFAs agree on ISA destinations

ISA preferences for private investors are currently matching the recommendations being made by independent financial advisers according to new research by JPMorgan Fleming Asset Management. Most ISA investors are keeping their money in UK followed by Europe and North America, which are also the top destinations for IFAs. However, in forth place investors favour Japan […]

Reid all about it

Last week saw the latest sting on the Financial Services Compensation Scheme when a company neatly sidestepped its liabilities in a series of moves that would put a chess grandmaster to shame. For nearly a year, we have seen legal firms tutoring IFA firms in this cleansing process. Out of curiosity, I attended one of […]

ScotEq enables advisers to track underwriting online

Scottish Equitable is introducing a facility that allows IFAs to track the underwriting of group protection schemes through a secure website. The tracker tool gives advisers and employers a central reference point that contains a wide range of data including scheme details and underwriting information. ScotEq says the new initiative gives IFAs greater control over […]

The Day of (B)reckoning

A period of exceptional uncertainty started last Friday for the UK, including a fierce leadership battle in a deeply divided Conservative party, the timing of the trigger of the EU’s Article 50, as well as a potential referendum in Scotland, and Northern Ireland. Click here to read the full article


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