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MPs support chartered status

Over 90 per cent of MPs believe advisers in the top tier proposed in the retail distribution review should be qualified to chartered status.

In a survey by the Chartered Insurance Institute, 92 per cent of MPs say advisers should be qualified to chartered status in line with other chartered professions.

When asked to assess advisers in terms of professionalism, 1 per cent of MPs rate them as very good, 13 per cent as good, 49 per cent as average, 26 per cent as poor and 9 per cent as poor.

Doctors score highest of all professions, with 34 per cent rated as very good, 40 per cent good, 17 per cent average and 7 per cent poor.

The CII questioned 104 MPs, comprising 46 Labour, 41 Conservative and 17 from other parties.

Director of policy and public affairs David Thomson says: “These findings reflect the external perception of the profession among politicians and the public at large. The fact that MPs support improved professionalism as part of the RDR solution is a warning that we need to make progress towards higher standards.”


Darling issues warning over current lending practices

The Chancellor has attacked banks for allowing consumer debt to soar out of control by lending too freely.In an interview with The Daily Telegraph, Alistair Darling said institutions needed to “open their eyes and be more honest” when assessing the risks of lending and borrowing money.Darling said: “My starting point is that Government cannot stand […]

Shock treatment

There is good news and bad news for the housing market. The good news is that – for the time being at least – it looks as though interest rates are not going to climb any higher although, admittedly, rates could still go up if the liquidity crisis continues and the rate at which banks borrow money remains high. The bad news is that, despite the good news, affordability has reached new lows.

Mott bolsters financials focus

PSigma income guru Bill Mott has raised the exposure to financials in his income fund to 35 per cent, claiming the sector now offers “outstandingly good value”.


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