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Send seismic wave to Sandler

In July, the Treasury-sponsored review of the retail financial services industry published its consultation paper and invited interested parties to respond.

The Sandler review – as it is popularly known after its head Ron Sandler – has come under fire from across the financial services market for seemingly drawing conclusions about the market before the consultation has begun.

IFAs have until the end of September to respond to the consultation paper and then Sandler is expected to take around a year to mull over the results.

Sandler has questioned the way IFAs are remunerated, their level of investment knowledge and their reliance on past performance when advising clients.

The Treasury claims these are simple observations designed to motivate the industry to respond to the review.

Others say Sandler has already reached conclusions that will probably lead to dire recommendations about the future of the industry.

If one grants the Treasury its claim, now is surely the time for IFAs to stand up, wave their arms and make their case about the importance of independent advice.

The worst thing IFAs can do at the moment is grumble under their breath about how the powers that be are out to get them.

They must respond to Sandler&#39s review by clearly demonstrating the important valueadded services they provide to savers and investors.

Below are the thoughts and suggestions of seasoned industry campaigners who have won their spurs by fighting battles of public opinion against vested interests.

IFAs would do well to pay heed to their ideas when they are composing their responses to Sandler and the Treasury.


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