View more on these topics

IFAs&#39 anger over rulebooks&#39 cost

The FSA has outraged IFAs by asking them to pay £250 for its new rulebooks.

The charge for the books comes on top of annual fees of £845 per firm plus £340 for each adviser. There is also a joining fee of £1,750.

The rulebooks will be available free on CD- Rom but many IFAs prefer reading the regulations from a book.

IFAs are also concerned that the cash payments will be credited to the FSA&#39s bank account immediately and will accrue interest until the rulebooks are published in February.

FSA spokeswoman Jackie Blyth says the charge covers the cost of printing and IFAs can pick which books they need. For example, The Conduct of Business Sourcebook costs £30 and the Training and Competence book is £25.

Sole trader Michael Mann says: “This makes me convinced that financial services is a bad thing to be doing. I&#39m glad I am 60.”

Roger Boot Independent Financial Advisers consultant Roger Boot says: “They are on the make, shoving the cost on to us. We are squeezed at the customer end with lower commission while our costs go up.”


Pension details must be simpler

As practising IFAs, we have become increasingly concerned with this Government&#39s continuous changes and additions to pension legislation.Since 1997, we have seen the abolition of ACT relief and the replacement of Serps which has increased the cost of retirement funding. We now have the introduction of stakeholder pensions, concurrency and the new investment instrument, the […]

Berkeley Alexander Safety First – 27th July 2000

Type: Accident, sickness and unemployment cover.Maximum benefit: Up to 65 per cent of income subject to a maximum of £1,500 a month.Benefit payment term: 12 months.Deferred period: Choice of 30 or 60 days.Premium: Unemployment-only or disability-only cover: 30 day deferred – £2.95 per £100 monthly benefit, 60 day deferred – £2.70 per £100 monthly benefit. […]

Bristol & West rebuked by consumer watchdog

Former building society Bristol & West has been reprimanded by watchdogs for paying poor rates of interest to 4,000 savers. The Banking Code Standards Board has ruled the bank owned by the Bank of Ireland was breaking the rules by offering lower rates of interest on accounts that are no longer marketed. Bristol & West […]

Swiss Life revamps income protection products

Swiss Life is overhauling its range of income-protection products for the first time since their launch in 1994 to keep them competitive.The protection specialist is making three major changes to the products as well as a number of minor alterations to simplify them for IFAs and make them more attractive to consumers.Swiss Life is offering […]


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