I feel I must add at least some partial support to IFA Master Adviser in questioning the investment made by Invesco Perpetual in Millfield.
All Mr Brodie is asking is why money is going into a loss-making company. This does not seem an unreasonable question but neither Millfield group chief executive Paul Tebbutt nor head of communications Jane Drew seems to want to answer the question.
They imply that Mr Brodie is making an attack on the IFA sector. Nothing could be further from the truth.
He asked what many other IFAs are asking right now – why are so many companies investing in loss-making IFAs, particularly as the outlook hardly looks especially rosy?
Paul Tebbutt was given a great opportunity to enlighten us, instead he wasted it.
It is a simple question. Can't we have a simple answer?
Mark Dampier Hargreaves Lansdown, Bristol