View more on these topics

IMA warns on &#39woolly&#39 definition of status

The Investment Management Association director of training and education Victoria Nye has branded the FSA&#39s definition of advice and adviser status as “woolly”.

The IMA is calling for a clearer explanation of exactly how the FSA defines an “adviser” and wants to see it narrow down exactly what constitutes fully fledged adviser status.

It wants a clear differentiation between advisers, financial planners and information providers in FSA consultation papers. It is calling for a more coherent strategy for adviser qualifications to clarify this distinction.

Speaking at the MM Top 100 summit, Nye said: “The definition of advice has become woolly. We need to look at what the customer takes being an adviser to mean and act on this.”

Recommended

Boom year for Chelsea as lending leaps 36%

Chelsea Building Society&#39s gross mortgage lending jumped by 36 per cent over the past year to £1.7bn from £1.3bn.The society&#39s results for 2002 also show total assets increased by 14 per cent to £6.7bn from £5.9bn in 2001 and profits grew by 12 per cent to £49.9m from £44.4m.Chelsea says its net mortgage lending of […]

Teather & Greenwood – T&G Aim VCT

Wednesday, 12 February 2003 Aim: Growth by investing in Aim quoted and unquoted companies and fixed interest investments Minimum investment: Lump sum £2,000 Opening/closing date: February 5, 2003/April 5, 2003 for 2002/2003 tax year, April 30, 2003 for 2003/2004 tax year Charges: Initial 5.5%, annual up to 3.5% Commission: Initial 2.5% Tel: 020 7426 3204

The Treatment Centre Company – Enterprise Investment Scheme

Thursday, 13 February 2003 Aim: Growth by investing in treatment centres for drug and alcohol dependency Minimum investment: Lump sum £1,400 Opening/closing date: February 11, 2003/March 31, 2003 Charges: Implicit Commission: Initial 3.5% Tel: 020 8681 1919

Chase de Vere chief Kennedy leaves in shake-up

Chase de Vere chairman Ian Kennedy, who is also chief operating officer of owner Bank of Ireland UK Financial Services, is leaving the group in a management shake-up.As part of the restructuring, Roy Keenan is being brought over from Dublin, giving up his role as group chief development officer, to become BoI UK Financial Services […]

Europe outlook: Greek gridlock and Italian banks

By Rob Burnett, Investment Director, Head of European Equities As investors await a resolution of Greece’s repayment difficulties, we anticipate a period of consolidation in the European market over the next few weeks. Our base case is that the Greek government and the European Central Bank (ECB) will come to a solution, particularly given the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com