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In trouble with the police

I read with interest the letters from Keith Lewis, Julian Stevens and Lorna Bourke&#39s article in Money Marketing recently.

We are being bounced from pillar to post at the whim of people who do not really understand the role of the financial adviser, whether independent or tied.

I feel we are becoming more and more like the schools, the hospitals and the police force, where eventually 17-20 per cent of our time will be spent in front of our clients and the other 80 per cent will be spent filling in forms and complying with regulations that have been imposed on us by our police force – the FSA.

From the point of view of Julian Stevens&#39 letter, I have had nothing to do with solicitors or accountants since because every time I have tried to offer our services to their clients, all they have been interested in is what I would pay them from the remuneration we earned.

Looking at our actual policing, I am fortunate to have on our staff a retired police superintendent who has been with me for 16 years and assists me with our compliance regulations.

Many years ago, he pointed out that when our police force was first established, it had unlimited powers, which I gather is the situation for our industry police force.

Fortunately, it was realised in time that that those who police society should not be in a position to judge them. However, that is the situation for our industry.

It strikes me that we are now in that situation. Lorna Bourke&#39s article identifies that. It would also appear that the FSA is not answerable to the Government at this time.

Brian Pickering

Managing director,

Heather, Moor & Edgecomb,




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