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IFP prefers Sandler to CP121

The Sandler review&#39s approach to the remuneration of advisers is much more sensible than the plan in the FSA&#39s CP121, says the Institute of Financial Planning.

But it says while it likes Sandler&#39s recognition of the need for highly qualified fee-charging advisers, it has concerns about the no product sale, no fee allowance. Chief executive Nick Cann says this would put too much pressure on advisers to sell products and the industry would be no closer towards cleaning up its reputation.

He says Sandler&#39s proposals make more sense than the FSA&#39s and he agrees with Aifa in the dispute with the LIA over which set of proposals are more workable.

Cann criticises the FSA&#39s CP121, saying it does not offer sufficiently detailed analysis while Sandler&#39s paper does back up its arguments with evidence.

He says: “The important thing is to highlight the fact we are discussing highly qualified and professional individuals who are worth the money they are charging. The only grey area is where Sandler talks about separating the price of the product from that of advice. I would have concerns if advisers don&#39t charge unless they make a sale.”


SG Hambros targets high-net-worth clients

Wealth management group SG Hambros has established a guaranteed offshore bond that is linked to the FTSE 100 and Eurostoxx 50 indices for an 18-month term.With its £50,000 minimum investment, the SG Hambros market recovery deposit is aimed at high-net-worth clients who think the stockmarkets are on the cusp of recovery, but who are reluctant […]

Drained by drawdown

It is now several years since we set up my self-invested personal pension with income drawdown. I thought I understood the risks at the time but I am now extremely concerned about how the latest stockmarket falls are affecting my funds and, probably more important, my future income. Are there any steps I should be […]

Summit on fund sectors

A group of leading fund managers including Credit Suisse, Fidelity, Invesco Perpetual, M&G, Merrill Lynch, Schroders and Threadneedle are to meet the three major data providers to complain at the way their funds are classified.Standard & Poor&#39s, Morningstar and Lipper are to meet 11 fund management firms next month. The firms are pushing for a […]

10 vie for top woman IFA award

The Women&#39s IFA Group has drawn up a short list of 10 for its IFA Woman of the Year award after getting 61 entries.The 10 advisers will go through to the next round of judging. The majority of women on the short list own their own businesses, five brought their partners into the business and […]


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