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Merger is about standards

Now the merger has got the yes vote from the members of both organisations, I hope that Harry Katz does not to resign his membership (Money Marketing, October 14). The financial services profession needs people like him.

Harry needs to accept that it is possible to disagree and to enter into debate without falling out. Let me reiterate that this debate has been going on at board level for the best part of a decade. It has not got beyond that level during that time because, sadly, individual vested interests got in the way.

It was appropriate to put the matter to the members of the LIA and Sofa. I know that both boards believe that members are well informed enough to decide whether there should be a coming together. Anyone who thinks this should not be decided by the members is missing a big point. This has nothing to do with independent financial advice or otherwise and Harry is wrong to fog the issue by raising that point. This has everything to do with enhanced qualifications, training and professional standards regardless of independent advice.

Now the informed members have voted yes, I believe the new combined body will be better placed to serve the needs of members who embrace the higher standards required of financial services practitioners.

Nick Bamford Chairman, Sofa


Critical questions

A conference at the Royal College of Pathologists last week hosted by General Cologne Life Re UK brought experts together to address current critical-illness standard definitions and how these could change in the future. Experts from institutions around the UK discussed five critical-illness conditions -cancer-solid tumours, leukemia, myocardial infarction (heart attacks), stroke and multiple sclerosis […]

Political problem with pensions

To read the recent national newspaper headlines, one might believe that some action was about to be taken on pension reform. Everyone bought into what the Prime Minister and his pension reviewer Adair Turner had to say. The public were told they would have to save more or taxes might have to go up, they […]

Resolution picks finance chief

Resolution Life Group is appointing Mike Biggs as its chief financial officer and board executive director. Biggs, the former Aviva group finance director, will be responsible for the company&#39s financial management, consolidated group reporting and capital structure. Biggs helped in the demutualisation of Norwich Union in 1997. He will also lead Resolution&#39s eventual flotation. Resolution […]

Firms set for form fee switch

Asset managers could rep-lace annual management charges with performance fees as a trade-off for access to multi-ties, says Investec managing director Andy Sowerby. Sowerby, joint MD of Investec Fund Managers, says firms are almost ready to make the switch to performance fees. Hedge fund managers are frequently remunerated based on performance. It is only since […]

Guide cover

Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.


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