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Pressing charges

In response to a number of recent letters on the MM letters page:
Adviser-charging is not fee-charging, it never has been. Please stop saying it is.

Nick Bamford
Informed Choice
remuneration

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Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. That is the problem with Jargon Nick, without a dictionary definition.

    Personally I think changing the intended name from Customer Agreed Remuneration (CAR) to Advsier Charging was a mistake.

    I agree with what you are saying on Adviser Charging and that many do not understand that the change simply means that any adviser charge taken from the contract has to be on a 1 for one basis, there can be no provider factoring. This WILL remove perceptions of bias (although there is little or no proof as far as I am aware of it and the FSA has not claimed there is any). I have welcomed CAR all along and if the debate had been more of a consultation than an Oligarchies dictation, we might have been able to find a resolution to the probem you have publicly accepted elswhere of how to find a method of encouraging regular premium business/savings without a provider influencing IFA decisions through factoring. I made suggestions in my RDR submission, but they were totally ignored. No surprise there as any sensible suggestions as to how to resolve the 15 year longstop issue have bene equally ignored as that is what Oligarchies do, they decide they know better.
    Lastly, you refer to a number of letters, would it not be best to link your comments to the offending articles, which is easily done? It’s nothing personal, just that it may be appropriate to point to what you believe is not true rather than use a scatter gun effect.

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