View more on these topics

Promoting the value of saving

You report that Ron Sandler has attacked the failure of the financial services industry to motivate savers.

I agree with his views. What really has been done by the industry in recent years to promote the real benefits of saving, and, even more importantly, the benefits of life and critical-illness protection to the general public?

Yes, there have been a multitude of campaigns. But they have all sought to win a greater share of an existing cake rather than expanding the market by informing and enthusing the general public about the real and vital benefits our industry offers.

Many years ago, Hambro Life sponsored a film, The Widow&#39s Story. There was one fleeting mention of life insurance and certainly no life company sell but no one who saw the film was left unmoved and unconvinced of the need for adequate life insurance.

I particularly remember one showing to a hard-bitten direct salesforce. Within days, over 60 per cent of them had started or increased their life cover.

A similar film illustrated the desperate plight of a family which had made inadequate and late pension provision.

Yet these films are rarely shown now – and there appears to be little will in the industry to repeat and update this powerful and motivational message.

If just a small part of the Pru&#39s reported £20m spend on marketing and a small portion of other companies&#39 spend was to be diverted to generic saving and protection motivation media, compulsion might become less of an issue and the public would better recognise the true value of what we do.

Michael Bryant

Honfleur, France


Credit crunch

What impact will the new European directive on consumer credit have on remortgaging, equity release, offset and flexible mortgages it if comes into legislation as the CML fears?Charlesworth: Between the European directive and CP146, the equity-release remortgage market could be significantly compromised, with the biggest impact coming from the proposals in CP146. The concern is […]

&#39Govt&#39s spiv ideas will not solve the pension crisis&#39

Government pension policy is in disarray, with ministers simply coming up with “spiv” ideas, according to a leading UK pension lawyer.Pinsent Curtis Biddle partner Robin Ellison has criticised the Government&#39s inability to sort out pension policy, saying it seems incapable of coming up with a big idea to solve the situation.The attack will come as […]

Scottish Widows cuts with-profits payouts

Scottish Widows is cutting payouts on with-profits by 5 per cent from today. It says the interim bonus declaration is a result of falling stockmarkets and it has taken the action to protect policies that will mature in the future.It says despite the cuts policyholders are being insulated from the full effects of the falls […]

Lazard leaps into third spot in Isa league

Morningstar, which gives investment houses with at least five rated Isa funds an overall average rating, scored Lazard 4.2 out of five, putting it behind GAM in first place and BGI in second with ratings of 4.5 and 4.25 respectively.It was the first month Lazard had five rated Isa funds to qualify.Standard Life Investments and […]


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