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Networking not working

News that DBS&#39s run-off deal excludes members who left the network during its protracted PI negotiations (Money Marketing, December 12, 2002) will not surprise IFAs who have tried to leave the UK&#39s other networks.

Rather than be positive and enhance the benefits that attach to membership, it seems some networks prefer to use scare tactics to discourage dissatisfied members from leaving. The threats employed are probably well known to most readers but the list has expanded and become more widespread in implication.

While freezing pipeline income and retaining client records could be justified as protecting business interests, I would call into question the commonplace delays in giving regulatory references to outgoing members and denying exiting members PI cover after they have left.

If I was an IFA, I would accept that I might have an ongoing liability in respect of the agreed excess (per the membership contract) but I would fight tooth and nail against having any liability forced upon me after exiting from a network. Let&#39s see what the lawyers say.

I wonder whether we are not witnessing the final decline of the network business model?

Gary Dixon

Managing director,

Compliance Solutions,



Canada Life call to reject Manulife bid

Canada Life&#39s board has unanimously urged its shareholders to reject the hostile bid from rivals Manulife. It says the offer, which could net the company&#39s 60,000 shareholders £4,000 in the UK and Ireland, is opportunistic and does not reflect the true value of the company.

Principle buoys can act to prevent a pantomime of ethics

One of the FSA&#39s discussion papers released at the end of last year has to a large extent gone unreported. There has been only a brief comment here and there about discussion paper 18, An Ethical Framework for Financial Services.I think it is vitally important that the FSA should be asking questions about the industry&#39s […]

Irish Life International unveils new bond

Irish Life International has introduced the 10th issue of the secured growth bond, a guaranteed equity bond that is linked to the performance of the FTSE Eurotop index over a five-year term.Investors can have their bond denominated in sterling or euros and can also choose from two capital protection options. Protecting 90 per cent of […]

Popplewell leads Zifa roadshows

IFA technical doyen Keith Popplewell and Zurich IFA Group are teaming up with a series of exclusive initiatives targeted at intermediaries.The initiatives include a series of seminars, a CD-Rom package and the launch of two websites – IFAsite and – both available free to IFAs through Zurich.IFAsite provides a template to help IFAs build […]


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