View more on these topics

IFAs may yet survive after the meddlers have gone

I have yet to experience the regulator dealing with me in a straightforward, honest fashion although it lays these requirements down as its expectations of my behaviour.

So for a short while I was bemused by CP121. I had believed that the IFA would always be left alone.

I have long been convinced that because the IFA is the weakest in terms of assets in the life and investment spectrum, that his future was vital to the politicians to blame for any of their shortcomings.

The IFA picked up the tab for the pension review so successfully that the regulator introduced the FSAVC review that also rode roughshod over legal rights such as the statute of limitations et al.

Do you not think that now the clowns at Canary Wharf have undermined the professional indemnity insurance providers to such an extent that none is prepared to underwrite yet another regulatory cock-up that the time has come to ditch the IFA? What a strange world these chaps inhabit.

We, the IFAs, have survived so many threats to our well-being, including meddling regulators, that it is quite possible that we will still be a force to be reckoned with long after the regulator has disappeared into the graveyard for meddlers.

KD Boyd

Boyd & Associates,

Rogate, Petersfield,Hampshire


Derbyshire buys Skipton loan portfolio

Skipton Mortgages, part of Amber Homeloans, has sold a 600 strong mortgage portfolio valued at almost £40 million to Derbyshire Homeloans. Specialist lender Amber, which is part of Skipton Building Society, says portfolio sales are a key part of its strategy and now it has completed its first portfolio sale to Derbyshire it hopes to […]

Society cash is in the Baggies

West Bromwich Building Society has renewed its sponsorship of Premiership new boys West Bromwich Albion Football Club.Newly promoted WBA signed a one-year sponsorship deal with the society which includes shirt sponsorship, affinity accounts and a football in the community programme.This is the fourth year the society&#39s name has appeared on the Baggies&#39 team shirt and […]

Non-executive stress

The aftershocks of Enron continue. The past weeks have seen the Enron, Marconi and Equitable Life debacles call the non-executive director into the witness box. Now it seems quite literally.We hear Equitable Life is to start a £3m legal action against 15 former directors over the decision to introduce differential terminal bonuses.To add to this, […]

NU urges tax aid as firms axe pensions

Norwich Union is urging the Government to introduce tax credits to firms offering pension schemes after finding that an alarming number of private companies are planning to shut down schemes.It is calling on the Government to act after its research of 1,000 firms last month found that more than 10 per cent of employers plan […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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