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Lay blame at the right door

Are you not just fed up of the disproportionate criticism of the IFA sector with:

•Misselling, over 80 per cent of which is attributable to the tied sector.

•Misinformed criticism of fund-based trail commission. With defined-contribution pension provision in the private sector, how does the Treasury select committee expect the essential ongoing advice to be paid for?

•When Sandler wants a minimum of 1 per cent below bank base rate, what has the Treasury select committee to say about 85 per cent of deposit accounts offered by the Big Four banks failing this criteria? Perhaps it is just happy to see the tax collected on exorbitant profits?

•With Joe Public hardly knowing the difference between an IFA and an FA, how do our esteemed regulators propose clarity in a depolarised world?

I, for one, think that Aifa and those companies which rely on the IFA sector should take a more forceful stance against over-bureaucratic, ineffective regulation and political – sometimes dishonest (“Stakeholder pensions are a success”) – amateurs, both of which have contributed to the public&#39s disillusionment with the whole savings industry.

Andy Pearson

Pearson Jones,

Leeds

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