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PIA watchdog team has wide knowledge

I write in defence of the PIA Ombudsman with reference to the letter from Christopher Mellor (Money Marketing, November 1).

Mr Mellor rightly states individual IFAs are now specialising within certain aspects of the industry.

He is concerned that the PIA Ombudsman is similarly unable to understand and have a complete knowledge of all aspects of the financial services industry.

His concern is apparently based on “the colossal number of wholly and utterly unjust judgments made by the PIA Ombudsman”.

Mr Mellor contends that former practitioners from the financial services industry should occupy the position of “ombudsman”.

In this respect, he appears to be unaware of the appointment of Chris Tilson to such a position. He not only fulfils Mr Mellor&#39s requirements but is also legally qualified.

Mr Mellor is obviously also unaware that the majority of the PIA Ombudsman adjudicators are drawn from the industry.

Their combined knowledge is such that it inevitably covers the whole range of our industry and in my experience enables complaints to be dealt with in an even-handed manner.

Bob Johnson

Senior complaints officer,Heath Lambert Consulting, London


Dripfeed option to encourage the reluctant investor

Lombard International Assurance is launching a phased investment programme designed to help investors overcome their reluctance to risk investing in the current market conditions.The firm says finding the right time for a new investment is proving to be a serious challenge for many investors.Its phased programme dripfeeds the investor&#39s capital into the market rather than […]

Confusion over complex and sub prime, says Sun Bank

IFAs may be missing out on sales opportunities due to confusion between complex prime and sub-prime mortgage lending says specialist lender Sun Bank.The two groups are vastly different, Sun Bank says, and a failure to identify this will result in lost sales. Sub prime covers borrowers with adverse credit while complex prime borrowers are those […]

Lombard International Assurance – Phased Investment Programme

Monday, November 12, 2001.Type: Offshore bond.Aim: Growth by investing initially in the Amvescap Aim cash fund andthen in bonds and global equities.Minimum investment: £100,000.Place of registration: Luxemburg.Investment split: Initially 100 per cent in Amvescap Aim cash fund,then choice of bonds and global equities.Isa link: No.Charges: Annual 0.5-1.5 per cent.Commission: Subject to negotiation.Tel: 00352 346191.

Help us solve B&W problem

We would appreciate your reader&#39s help with problems encountered with Bristol & West Building Society.We build balanced portfolios for mainly retired people, that is, between 20-30 per cent cash 20-30 per cent low risk and the balance in equities.On an increasing number of cases on review, we have found B&W have contacted our client direct […]


MPAA consultation

By Fiona Tait, pensions specialist The chancellor’s announcement of proposed cuts to the Money Purchase Annual Allowance means it will be more important than ever to be able to tell your PCLS from your UFPLS What was in the statement? Not much. The chancellor spared three sentences to inform us that the Money Purchase Annual Allowance will be reduced […]


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