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IFAs must develop T&C say trade bodies

Industry trade bodies and regulators have joined together in a plea to
practitioners to continue their training & competence regimes over
the continuing period of ambiguity.

Speaking together at this year&#39s Money Marketing Live in Manchester,
representatives of Aifa, the FSA, MCCB, the Financial Services Skills
Council and the Institute of Financial Planning responded to industry
concerns that it was not worth making commitments to training and
exams until new skills and competency requirements had been
finalised by the Skills Council.

Aifa director general Paul Smee said whilst he understood some
firms might have apprehensions about qualification not matching up
under the new regime, it was important to continue making sure
advisers&#39 businesses were adequately skilled.

Both Aegon UK head of industry development Peter Williams and
FSA head trainer Darren Moxom stressed that it was important for
advisers to continue to work towards qualifications they believed to
be &#39appropriate&#39 to their businesses.

Williams said: “The key issue for the Skills Council is that we are
working towards a structure based on &#39appropriate&#39 exams rather
than &#39approved&#39 exams.

“Qualifications advisers take should be appropriate to their
businesses. In this respect, there is no need to hold off pursuing
qualifications until after the new structure is finalised.”


UCB HomeLoans – Buy to Let &#45 2 Year Fixed

Type: Fixed-rate buy to let mortgage Fixed rate: 4.89% Fixed term: Two years Minimum loan: £25,001 Maximum loan: Up to 80% of valuation subject to a maximum of £300,000, up to 75% of valuation subject to a maximum of £400,000 Income multiples: Up to 3.25 times principal income plus second, 2.75 times joint, or rental […]

FOS now expects 50,000 endowment complaints

The Financial Ombudsman Service says it now expects to receive 50,000 mortgage endowment related complaints during the 2003/2004 year, up from the 20,000 it had predicted in the Spring. The increase is due to a sudden surge over the last two months in the number of endowment complaints received by the FOS. It now says […]

Threadneedle appoints Backhouse to fixed income team

Threadneedle Investments is appointing David Backhouse to its fixed income team as an investment analyst in investment grade credit. Backhouse joins from Gartmore where he was a credit analyst working on investment bonds and crossover credits. Threadneedle head of fixed income Robert Stirling says: “We have a highly regarded fixed income team of 30 investment […]

Purchase lending hits record

There was a record level of house purchase lending in August, according to the Council of Mortgage Lenders&#39 latest figures.The CML results show a swing towards house purchase away from remortgaging. Lending for house purchase reached £11.5bn in August, the highest figure CML has ever recorded, accounting for 48 per cent of total lending. This […]


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