IFAs are in uproar over the award of an OBE to FSA dir-ector of the
pension review Ronald Devlin.
FSA chairman Howard Davies has also been knighted in the honours list, a
move seen as a reward for establishingthe regulator.
But advisers believe Devlin has not served the public's best interest.
Devlin joined the FSA in 1997, having previously held a senior position at
Litchfield-based IFA Independent Retirement Services co-director Roy
Fawdrey says: “The whole review was a total mess. The general public has
not been served well andwill have to pick up the costs. I cannot believe he
has gota bag of toffees for this.”
The Onion Group principal Penny O'Nions says: “I am speechless that Devlin
has been given this award. I believe in OBEs but I do not believe in
handing out awards willy-nilly. Devlin has wrecked the lives of the
majority for the benefit of the minority.”
Hargreaves Lansdown managing director Stephen Lansdown says: “When you
hear Devlin has been awarded an OBE you wonder who proposes them and why. I
think people who put in a lot of effort for others without any thought for
themselves should be rewarded with an OBE. Devlin hardly falls into this
Standard Life group managing director Scott Bell has been awarded a CBE.
Hermes Pensions chief executive Alistair Ross Goobey gets a CBE.