View more on these topics

Personal Finance Society name gets thumbs down

The name of the proposed merger between Sofa and the LIA – the Personal Finance Society – has been overwhelmingly rejected in a Money Marketing poll.

Eighty six per cent of advisers are not in favour of the proposed name, with just 14 per cent approving, according to a poll of 505 advisers carried out by Money Marketing Online over the last week.

IFAs are angry that the name does not include the word “adviser” and does not make allowance for other types of business, for example, corporate work, done by members of Sofa and the LIA.

LIA head of public affairs John Ellis is appealing to members of both organisations to live with the name for a while, saying it can be changed if any major problems arise.

Michael Philips proprietor Michael Both says: “I do not like the name. I think the word adviser should be in the title as that is what we are about.”

Ellis says: “I think that no matter what name we chose, we would have had this sort of reaction. We chose the name deliberately because it is consumer-facing and uses words that consumers will understand. If our job is to raise standards and recog-nition of consumers, then the name makes sense.”

•Comment, p41


Baillie Gifford – Select Pension

Type: Full self-invested personal pension Minimum investment: Lump sum £50, monthly £50 Investment choice: Scottish Mortgage Investment Trust, Monks Investment Trust, Scottish American Investment Company, Edinburgh Worldwide Investment Trust, Baillie Gifford Japan Trust, Baillie Gifford Shin Nippon, Pacific Horizon Investment Trust, Mid Wynd Investment Trusts, Baillie Gifford Bond Pension Fund, Baillie Gifford Unit Linked Pension […]

Sesame fined £290,000 for pensions unlocking

IFA network Sesame has been fined £290,000 by the FSA for serious failings in pensions unlocking.The firm was punished for advice given to potentially 3,205 customers between August 1999 and May 2001.The regulator said that Sesame, which at the time was called Kestrel Financial Management Ltd, failed to adequately monitor selling practices of Regal Partners […]

Rejecting merger will send out wrong message

I have been surprised and somewhat saddened by the level of misinformation circulating about the LIA/Sofa merger. I cannot see how disingenuous comments about the LIA board help in the debate about a new professional association. I am a past president of the LIA and have always been in complete support of a merger between […]

West Bromwich Building Society – All in 4.95%

Type: Fixed-rate mortgage followed by discount Fixed term: 12 months Fixed rate: 4.95% Discounted term: 12 months Discount: 1% Minimum loan: £25,001 Maximum loan: Up to 95% of valuation subject to a maximum of £500,000 Income multiples: Up to 3.75 times principal income plus second or three times joint Conditions: Six months&#39 free mortgage payment […]


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