View more on these topics

Over half of IFAs do not understand personal accounts

Only 9 per cent of IFAs believe that personal accounts are a positive move for the financial services market according to research from The Pensions Report 2007.

The report, produced in partnership with TaxBriefs, has also revealed that 56 per cent of IFAs do not have a good understanding of the government’s proposed personal accounts scheme.

Furthermore, 42 per cent of the 1,000 advisers surveyed believed that the introduction of personal accounts will have no impact on their business.

The Pensions Report is due to announce its full findings on October 9, 2007 and has revealed that 81 per cent of brokers believe that consolidation of older schemes is a key driver of their pensions business.

Nearly a quarter of those surveyed, 24 per cent, say pensions transfers represent over 50 per cent of their business.

The Pensions Report chairman Malcolm Small says: “The fact that this year’s research shows that IFAs feel they do not have a good understanding of personal accounts is a worrying sign for everybody within the pensions industry. If the scheme is to be a success we will need consumers to re-engage with pensions and providing them with accurate and reliable information about the options open to them will be a key aspect of this.”


Ride out a recession

Investors concerned about a US recession could move to a defensive position but a better bet in the long term would be a balanced portfolio which can ride out market conditions, says Will Henley

C&G to withdraw current 100 per cent mortgage range today

Cheltenham & Gloucester has alerted brokers that it will be making changes to its 100 per cent mortgages from tomorrow.It says that all current 100 per cent products are being withdrawn from close of business today.The changes include the removal of the free valuation incentive previously applicable to this range of products.For details of the […]

CML’s role is criticised

Mortgage brokers have questioned the role of the Council of Mortgage Lenders in the Northern Rock debacle.Speaking at a Money Marketing sub-prime round table, Robert Sterling managing director Kevin Duffy compared the situation with when Victoria went into administration and both TMB and GMAC-RFC quickly arrived with lifeboats for its clients.Duffy said: “It was clear […]

Budget summary – March 2016

This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]


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