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‘Same old story with new wealth label’

Thinc wealth management director Tim Parsons says many advisers are being taken in by the lure of a so-called shift in the way of doing business.

He says: “The new wave of disenchantment is a sad but inevitable by-product of the shifting landscape within the retail advice sector as more firms hitch themselves to the bandwagon without first looking at some fairly fundamental issues.”

He says the new model argument is not about being better at the job, nor is it about fees versus commission, but is just a different way of doing business that will only attract a certain type of client or adviser.

Parsons says: “This different way of doing business has certain characteristics and it is the deeply profound nature of those characteristics that most businesses fail to adopt but think that paying lipservice to them will turn them into the movers and shakers that will attract like-minded recruits. It is only after a while that reality bites and disenchantment follows.

“Making promises is easy and unfortunately endemic in our business. What is not endemic is having the systems, processes and intellectual capital to deliver on the promises.”


The truth will out

Lord Lipsey’s admission that many pension and endowment policyholders may have been wrongly compensated will come as little surprise to advisers, who have paid the price of ‘false memory syndrome’. By John Lappin

We need the truth on claims

Lord Lipsey’s remarks suggesting that some people lied to get compensation by pretending not to remember conversations in both the pension and endowment reviews have provoked outrage among advisers.

Planners need more than exams

I must take issue with Julie Lord’s article in last week’s Money Marketing and the utter nonsense she spouts regarding chartered v certified financial planner status. If I were starting now, I know which route I would take to achieve professional level and that would be the easiest. I could, from scratch, become certified in […]

Hunt aims to boost Lehman mortgage packager profiles

Paul Hunt has joined Lehman Brothers as director of marketing for its residential mortgage brands in the UK.In this role, Hunt will report to executive director of sales and marketing Guy Batchelor. Hunt is responsible for expanding the profiles of Preferred and Southern Pacific Mortgage Limited and driving forward marketing strategy for the two packager-based […]

Jelf flexible benefits

In Focus: How to choose a flexible benefits provider — seven top tips

Jelf Employee Benefits looks at some of the key considerations employers should think about when reviewing and choosing a flexible benefits provider. Choosing the right benefits for your employees is one thing but delivering a successful employee benefits strategy is about understanding the complete picture and delivering it in a personalised way so that it resonates with each and every individual in your business. 


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