View more on these topics

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.

Recommended

PIA heaps on review woes for IFAs

The PIA&#39s recently issued CP35 on the pension review is one of those documents that you glance at once and then immediately file away in the “too difficult” drawer. Could the regulator possibly have found a more complicated way of setting out what amounts to who has to pay what to whom and by when? […]

Don&#39t be caught offside in stakeholder game

“Some people say football is a matter of life or death. That is ridiculous. It is much more important than that.” Famously spoken in 1969 by Bill Shankly, the legendary Liverpool football manager, the same phrase might be equally appropriate in the context of stakeholder pensions. Few commentators (apologies for the early footballing pun but […]

Pinnacle thumbs up for MPPI

Payment protection insurer Pinnacle says homeowners who re-mortgage should buy a mortgage payment protection insurance policy to safeguard the financial benefits of moving to a new lender.Pinnacle argues that the advantages of better terms and lower costs make little difference if sickness, accident or unemployment stop homeowners making mortgage repayments.Pinnacle director of new products Tom […]

Medical matters

The last 12 months have seen a number of new and important players entering the protection market. At the same time, issues such as genetic testing and prostate cancer screening have topped the news agenda. I would like to draw your attention to these emerging issues and their potential impact on the protection market. Genetic […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment