Just which world is Brian Wood living in when he suggests that advisers' power will be increased (Money Marketing, February 21)?
This may be true for bigger IFAs but for individual practitioners, power remains entirely with the product providers.
In the same week that Mr Wood's letter appeared, Norwich Union rang me to say that if I did not increase my levels of business with it, my commission enhancement would be reduced.
There was no suggestion on NU's part that it should improve its products and compete in the market.
I cannot speak for others but threats to reduce commission will not influence my decisions whether to place business with NU.
Neither will my natural inclination to tell NU where to stick its pressure tactics to prevent me from placing suitable business with the company should any arise.
Multi-ties will only increase this kind of pressure to the detriment of consumers. What a pity the FSA lives in the same unreal world as Mr Wood.
Thomas Financial Planning