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Quarter of independents back the Sandler review

IFAs are divided over what good the Sandler review will do for the

industry, with more than a quarter supporting the controversial

review, according to the State of the IFA Nation poll.

When asked about what the review will do for the industry, 30 per

cent of respondents were unsure whether the outcome would be

beneficial for the market.

But 27 per cent were positive the review would be good for financial

services and 42 per cent thought it would damage the industry and

consumer confidence.

When asked what would be fair commission on a stakeholder pension, 18

per cent IFAs said up to 3 per cent would be acceptable. Ten per cent

thought a separate fee would work and 18 per cent said the margin

should be based on the level of advice given.

Fifty seven per cent of IFAs are confident that the the group

personal pension market will survive stakeholder but 55 per cent are

not optimistic about selling stakeholder.

Despite with-profits reviews by the FSA and the Sandler team, IFAs do

not believe the principle ofwith-profits investment will decline,

with 60 per cent claiming with-profits as a concept has a future.

Baronworth Investment Services director Colin Jack-son says: “In view

of the FSA&#39s announcement, I am not sure how much clout that the

Sandler review will have. The FSA seems to have overtaken Sandler and

the regulator seems to be taking precedence

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Independent view

We are in a business which is heavily dependent on good relationshipswith our clients. These relationships tend to be long term. That isfairly obvious, I suppose, because the products and services weprovide tend to be long term.There are few things better than to sit down with a customer you haveknown for many years to review […]

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