I find it incredibles that the FSA has called for product providers to take more responsibility for the quality of advice that is given by advisers.The FSA will be aware that the advice process primarily begins with (among other things) a fact-find, possibly supplementary questionnaires, full discussion with the client, recommendations, further discussions, decisions and suitability letters. How on earth can the product provider be in a position to know all this information and then be able, competent or, perhaps most important, authorised to comment on the suitability of the advice given? Would it not be more productive, realistic and rational if, instead, the FSA made absolutely certain that product providers were providing advisers with honest, accurate and appropriate literature that they could rely upon. In other words, and at its simplest to avoid obfuscation, providers provide, advisers advise. David Barnett Principal DPB Independent Financial Services Edgware, Middlesex
The Pension Protection Fund helped 43,000 pension scheme members in its first year, with 10,000 already getting payment.
Growth Kick Out Plan September 2006
You could not fault the credentials of the investment panel for Money Marketing Live in Manchester last week, with stalwarts such as Newton’s Harry Morgan and Justin Urqhuart-Stewart of 7IM sharing their views on how markets might behave.
Many mortgage advisers fear that sales practices for payment protection insurance will not improve until stricter regulation is forced on lenders. Some suggest that the big profits generated for lenders by PPI sales are standing in the way of reform.
Amanda wrote recently about those clients who need a little tough love – the ones who arrive at your door knowing how much cover they want and why they want it. What they seldom know is how much cover they actually need, what type of cover they should choose and the range of benefits available in the market. […]
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The workplace presents a significant opportunity for advisers, yet many are still shunning this sizable market, experts argue. The pension freedoms and auto-enrolment have increased the unmet need for advice in the workplace. Some larger employers and pension trustees are no longer content to leave employees to fend for themselves among scammers and fraudsters and […]
Neil Woodford has rejected gloomy UK growth forecasts from the Office for Budget Responsibility revealed in yesterday’s budget, arguing the country is on track to achieve annual growth around 2 per cent. According to the OBR, growth this year will be 1.5 per cent, and fall to 1.4 per cent in 2018. Through 2019 and […]
Trade bodies tend to live in a cloistered environment while advisers keep the industry on its toes