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IFAs outraged as pension review chief gets OBE

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&#39s 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&#39Nions 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.


GPPs set to benefit from &#39restricted&#39 stakeholder

Scottish Equitable is pred-icting that difficulties over providingstakeholder plans could tip the balance in fav-our of group personalpens-ions for many employers from next April.The life office believes the restrictions and conditions surroundingstakeholder will lead to a very limited uptake among smaller andmedium-sized employers. It suggests many will opt to take the GPP routewhen planning pension […]

&#39Compete with Charcol&#39 call to new e-brokers

IFAs are being offered the opportunity to create their own rival tocharcolonline with a white-labelled mortgage application website fromMortgage 2000.But the company&#39s tag line – “Become a charcolonline or E-loan” – isbeing challenged by John Charcol.Mortgage 2000 is offering IFAs a bespoke version of site, which allows searches across every mortgageproduct in the market, […]

Stakeholder – the target is moving

How would you encouragethe average person to buya stakeholder?JG: A twin thrust of quality promotion, including individual advice whereappropriate, from qualified advisers and improved understanding andawareness of financial requirements at different lifestages will helpconsumers choose from the options available for their financial planning,with stakeholder one of those options.We have already seen a growing recognition, especially […]

Young seek friends&#39 advice ahead of IFAs

IFAs are in for a rude awakening as a new survey reveals youngprofessionals would rather seek advice from friends and relatives than goto a professional adviser.The survey, conducted by software company Focus Solutions Group onfinancial services and new channels to the market, highlights somedisturbing trends among young professionals aged between 25 and 35.The company says […]

Benefits of using a probate bare trust

Have you ever wondered what happens to someone’s investment bond on their death if it is not written in trust? When someone dies it is essential to deal with their estate, which can be made up of their home, belongings, investment bonds and anything else they may have owned. But, it is not as simple […]


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