Mr Frost (Money Marketing, September 13) is quite right – £126 is certainly not an exorbitant commission for arranging a stakeholder (or anything else for that matter).
Compare that with the “financial expert” (an IFA, actually) speaking on a recent BBC Radio 4 financial programme who stated that he would charge a fee of between £1,500-£2,000 to a five-employee firm to “trawl the market” for the most appropriate stakeholder scheme.
As in all things, one IFA's attitude to his clients is different from another.
The root cause of all the problems which regulation has so patently failed to solve is that while most IFAs and tied advisers have their clients' interests at heart, there are a minority who are only interested in squeezing out the maximum margin for themselves.
As my occasional critics are quick to point out, I have been out of the business for some time but certain of the deadly sins have been around for rather longer.
Forbes Marketing and Management