View more on these topics

Regulator&#39s consultant says cost analysis is the big chance for IFAs

The FSA&#39s cost-benefit analysis is IFAs&#39 big chance to have an influence on the outcome of the review of polarisation, says the consultancy which compiled CP121.

Charles River Associates principal Tim Wilsdon told the Money Marketing G80 summit the IFA sector should bombard the FSA with details of the cost to their businesses of implementing the defined-payment system.

He referred to his consultancy&#39s involvement in the successful lobbying on the cost analysis that led to the abandonment of CP98, the draft mortgage rulebook that proposed regulation of mortgage brokers by lenders.

Aifa has commissioned CRA to co-ordinate its analysis response and is asking IFAs to assess the cost of implementing the DP system. The consultancy carried out the research on commission bias in CP121 for the FSA.

Wilsdon said: “We still have an opportunity to influence these regulations. CP98 showed that change can be brought about if you can show that the outcome will be poor. Numbers and analysis are very important to this Government and the case for change will only be sound if a solid independent sector will remain.”

Aifa director general Paul Smee said: “The FSA have seriously underestimated the cost and business disruption that the defined-payment system will cause.”


Independent View – Philip Rose

“Where there is no vision the people perish” – is that from the Bible&#39s Book of Proverbs or the FSA&#39s CP121? I often confuse the two.But vision really is vital to any business that wants to flourish – and it is probably one of the greater challenges facing every IFA today. The view is so […]

What&#39s the frequency?

Over the first two articles in this series, I have started to look at important issues relating to assumptions which should be made when formulating and presenting a client with a report and recommendations based on specified levels of target benefit – these targets either to be set by or agreed with the client.I have […]

Britannic offers big bonuses to secure managers&#39 loyalty

Britannic Asset Management is believed to be offering fund managers loyalty bonuses of half their basic salaries in a bid to retain key staff while it seeks a merger.Parent company Britannic announced it was looking to link up with another mid-sized firm in March after releasing results which showed its profits fell to £145.4m in […]

&#39Sandler against DP and 1% caps&#39

Ron Sandler is believed to oppose the FSA&#39s definedpayment system and 1 per cent caps on products, according to industry sources.Several industry figures expect Sandler to add his voice to the chorus against DP when he publishes his report, expected in June.It is also thought he may decide to criticise the 1 per cent stakeholder […]


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