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Polarisation predictions

Stakeholder prediction

Assuming that New Labour retains office, I can guarantee that the blame in regard to the failure of stakeholder will be laid squarely on the pension industry and the commission-greedy advisers.

Equitable Life prediction

The story will run on for some years and, rather than blame their own internal departments such as the Treasury and DTI, there will be an inquiry into “with-profits”. The life industry and again the advisers will be blamed for advising with-profits and possibly another inquiry will be launched in regard to misselling by the FSA.

Polarisation prediction

If the Government will have its way , any Cat-standard product will not need advice. This will lead to direct salesforces being able to sell Cat-standard products.

While the increase in Catstandard products and stakeholder means cheaper products for the general public, it will also mean life offices will not be so profitable and there will be far more amalgamations, leading to less choice for the general public.

This Government want an end to the regulations on financial advisers and want the industry to police their own salesforces, leading directly to tied agents, etc.

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