Leading IFAs are calling on Ron Sandler to enter into discussions with the
IFA community before making any assumptions about the sector in his Review
of Medium and Longterm Retail Savings.
Their open letter (in full here) asks Sandler to ensure he meets with IFAs
as part of his consultation paper to give them a fair hearing
The Sandler Review Team
Room 316A HM Treasury
Allington Twoers Allington Street London SW12 5EP
Dear Mr Sandler,
We in the IFA industry would like the opportunity to raise our concerns directly to you about some of the suggestions in your consultation paper, Review of Medium and Long-term Retail Savings.
A part of the review, we would like to ask you to come and see us in person rather than make any assumptions about ouy role in the market. We want to challenge your view that IFAs lack investment knowledge and are better versed in areas like tax planning than understanding the often complicated nature of investment savings vehicles.
This suggestion of a cap on commission in the internet of consumers is obviously a major issue for IFAs as this would have a significant effect on our income stream. You are questioning whether there are alternative methods of remuneration for IFAs and we think it is only right that we have the chance to have some input. We would appreciate the chance to have a meaningful discussion with you at as early chance as possible.
director, Baronworth Investment Services
director, chartwell Investment Management
Richard Essex consultant, Grayside
chief executive, Hargreaves Lansdown
Nick Bamford managing director, informed Choice
Managing director, Intelligent Pensions
John Mc Clelland
principle, Knightsbridge Financial Services
Matthew Goldsmith Lighthouse managing director
Max Horne director, Max Home Financial Planning
David Harrison chief executive Positive Solutiolns
Eirian Jones partner, RNR Independent Financial Advisers
Robert Reid director Syndaxi Financial Planning
Simon Hudson chief executive Tenet Group
Philip Rose managing director Wentworth Rose