View more on these topics

IFAs say FSA has failed to protect public

Sixty-four per cent of IFAs think the FSA has failed in its duty to protect consumers since the start of the credit crunch, according to Opinium Research.

The Independent Voice survey conducted by Opinium shows that more than 90 per cent of advisers feel the Government pays too little attention to their concerns, with 46 per cent convinced that a Conservative Government would be better. Only 6 per cent believe the FSA has done a good job of protecting consumers during the recession and 72 per cent say the FSA has failed over the last five years.

In July, FSA director of retail policy and conduct risk Dan Waters said the regulator was “alarmed by the complacency in some quarters” about the risk of protection misselling.

Just over 20 per cent of advisers agree that IFAs are complacent about the risks of protection misselling, while 74 per cent feel the regulator’s claim was unfounded.

Opinium Research director Dan Foreman believes the Tory party has found favour with the majority of IFAs.

He says: “IFA confidence in the FSA is low and this may explain why the majority of advisers are in favour of a Conservative Government, given their proposal to abolish the FSA. There are also significant numbers of advisers who think that the Tories will be much more open to listening to adv- isers’ concerns than the current Labour Government.”


How you’ve grown

As explained in last week’s article on the child trust fund, the initial payment of £250 is made to the CTF for all children born on or after September 1, 2002, with the top-up being made on their seventh birthday. Children who have their seventh birthday from September 1, 2009 onwards will receive the second £250 payment made directly into their CTF account.

Tapering of annual allowance – adjusted and threshold income

The definitions of adjusted income and threshold income used to determine whether, and to what extent, someone’s annual allowance will be reduced can be confusing.  Here we try to make sense of it all. The annual allowance will be reduced for high income individuals from 6 April 2016.  Our previous article Tapering of annual allowance […]


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