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Labour conference – Tories blast means testing at fringe event

Shadow Financial Secretary George Osborne is blaming the Government&#39s means tested benefits policy for a steady decline in saving.

Speaking at a fringe event at the Labour party conference in Brighton he said the crucial answer to addressing the savings gap is tackling the spread of means tested benefits. Osborne blamed the Government policy as the unwitting cause of a steady decline in savings, he added that the introduction of means testing had clouded the savings issue for those that had once had a clear incentive to save.

He said: “It is universally accepted by my party, by the Liberal Democrats and by the industry, by everyone apart from the Government that this is a failed policy.The people selling products face a huge dilemma, over what advice to give people.”


Chance was missed on depolarisation

The AITC says the FSA missed an opportunity to promote the marketing of trusts during the consultation on depolarisation. Director general Daniel Godfrey told last week&#39s Money Marketing/Sway round table meeting at Somerset House that the regulator could have done more to help by unbundling the cost of advice from the sale of the products. […]

LIA and Aifa attack FSA move to &#39de-skill&#39 advice

The LIA and Aifa say FSA plans for simplified products will de-skill financial advice and they want to see qualifications for the sale of stakeholder products. The LIA and Aifa are pressing for an exam and training sessions for people selling the simplified products. They are against FSA proposals that would see a scrip-ted list […]

Close bears fruit from Berry

The Close Finsbury multiasset portfolio is an Oeic fund of funds that aims for growth by investing in a range of asset classes including equities, bonds, property and hedge funds. In keeping with Close Finsbury&#39s policy of outsourcing, the fund will be managed by Berry Asset Management. Berry was chosen because it has managed multi-asset […]

Advisers say providers should take more blame

IFAs believe providers should take more responsibility for products that provoke complaints from consumers. At Money Marketing&#39s round table last week, IFAs hit out at providers and the FSA over products such as precipice bonds, endowments and pension transfers, saying they should shoulder some of the blame for consumer complaints. King Associates senior partner Sue […]


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