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Sandler: provider response


The cost of redesigning products and administration will be considerable and contrary to the objective of simplifying the sales process, with consumers ultimately bearing the costs.

Scottish Widows

Protection should be added to the stakeholder suite of three products but a price cap will lead to market distortions.

Norwich Union Life

We have the size and scale to produce low-cost products efficiently and at a profit. With products available through a range of distribution channels, we are well placed to take a growing share of a growing market.

Virgin Money

We are surprised that Isas are not included in the core product suite and that the 1 per cent charge cap is not enforced. But we welcome the reliance on “Virgin-style” trackers. We are worried and concerned that with-profits policies appear to play such a significant role in his vision for the future.

Friends Provident

We welcome the proposals for simplification and improved clarity but stakeholder pension experience shows that the 1 per cent charge cap may restrict the uptake of the new products.

Standard Life

We welcome the report but the proposals to make advice available more widely should not get in the way of provision of quality advice.


Simpler products &#39give more motivation to save&#39

The Government should no longer rely on tax incentives to motivate people to save as there is little evidence they have been successful in increasing the overall level of saving says Ron Sandler.While not going so far as to suggest the Government should scrap exisiting tax incentives such as Isas, which would cause too much […]

Chelsea calling for debate on structured plans

IFA Chelsea Financial is urging advisers not to blacklist structured products across the board until there has been an informed debate on their worth and future prospects.Structured plans have come under a barrage of criticism recently as many – including New Star&#39s forthcoming product – include volatile stocks from the Nasdaq 100 or Techmark indices […]

Criticism of changes to tables

The FSA&#39s league tables should be changed to illustrate the differences in costs between going to an IFA and other distribution channels according to review chief Ron Sandler.The league tables, which have been pilloried in the past for their over-reliance on charges, would effectively be split showing two prices one for IFAs and one for […]

Sandler recommendations could damage customers

Ron Sandler&#39s recommendations run the danger of being achieved at the expense of consumer protection says the Financial Services Consumer Panel.It says removing the obligation to provide “suitable advice” and “know their customer” could potentially lead to future misselling scandals. The Panel points out that misselling in the past of personal pensions, mortgage endowments and […]


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