View more on these topics

On wrong trail

It is recognised that Hargreaves Lansdown is largely financed by trail commission so Peter Hargreaves justifiably preaches his own case (Money Marketing, April 8). But has he yet achieved success in rewarding employees on the basis of client contact, not business done?

I am not aware that his staff are paid to ring up clients to pass the time of day. How often do they make recommendations to clients based on individual circumstances?

When it comes to supplying most insurance company products, people need to have them sold to them. If it is the right product at the right price, it sticks. The client is content and will run with the policy.

There is no reason why the IFA should not be paid at or shortly after the point of delivery. Whether this is by commission or a fee is entirely a matter of prior agreement. I fail to see how spreading this out over the life of the product makes the transaction any more valid.

I have a very small client base with whom I maintain a personal contact on a frequency suited to each case. If I do not, normal market competition will cost me a client. I think most of us are already aware of the need to service clients and reward by way of ongoing management fees will make not a ha&#39port of difference.

Robin Smith Robin Smith Independent Financial Adviser, Dundry, Bristol


Luqman Arnold joins practitioner panel

Abbey chief executive Luqman Arnold is joining the Financial Services Practitioner Panel. Dresdner Klienwort Wasserstein vice chairman Alan Yarrow will also join. The panel represents the industry and ensures that the FSA takes account of the views and concerns of regulated firms in the development of regulatory policy and in its operation generally.

IFA sets up equity-release firm aiming for referrals

Reading-based IFA Advice on Money has set up an equity-release service aiming for referrals from IFAs and mortgage consultants. The Equity Release Centre is a whole-of-market service aimed at those who have either decided not to apply for lifetime mortgage authorisation under the FSA requirements or for those who would simply prefer not to spend […]

Live up to the future challenge of change

Next Thursday, May 6 will see the biggest one-day show for financial intermediaries return to London&#39s Olympia. With 50 CPD-accredited conference sessions and over 100 exhibitors, Money Marketing Live will once again give financial intermediaries the opportunity to discuss some of the key challenges they face with senior industry figures. In addition to four product-specific […]

Correspondent&#39s week

Is the housing market about to fall off a cliff just as the stockmarket did four years ago? And how long before the damage caused by the stockmarket crash is fully repaired? Those thoughts ran like a thread through the past week. Like many wives, mine is addicted to TV programmes which tell us to […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm