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Net letter angers advisers

IFAs have accused MoneyExtra.com of stabbing themin the back.

The consumer financial services portal, a sister service to The Exchange IFA service, claimed IFAs are driven by profit and commission levels.

The newsletter says: “The pension plan may be better news for the financial adviser and the pension provider if they take high charges out of your plan. And how good are they at investing your hard earned money wisely?”

DPB Independent Financial Services IFA David Barnett says: “MoneyExtra should not disparage and deride advisers in this way. They are meant to support and provide a service for IFAs but they are being highly derogatory about us behind out backs.”

Money Extra.com editor Danny Bowers says: “The newsletter has independent content written from the perspective of the consumer.”

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