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Sing for your supper

I have been reflecting on my letter in your November 30 edition and Nic Cicutti’s thought-provoking piece in your December 7 edition.

It strikes me that there is plenty of scope for financial advisers to receive payments that are disproportionate to the amount of work they do for their clients by way of fund-based renewal commission as well as initial commission.

Perhaps the mantra should be: “Relate the work you do to what you are paid and vice versa.”

For instance, when investments are initially made, that usually means rebating commission so that what you receive matches the amount of work you have done.

Later on, when funds (and renewals) accumulate, that usually means moving to six-monthly review meetings instead of annual ones to improve your service in line with higher renewals or, at the very least, to treat the client to a very nice lunch or a weekend break.

RW Keyte
Towers of Taunton (Financial Services),
Taunton, Somerset


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Thai finance minister Tarisa Watanagase has removed measures to restrict foreign investment inflows only one day after the proposals caused the local stockmarket to suffer its biggest oneday loss in 16 years.

Consolidation culture

Two thousand and six has certainly been the “year of consolidation” in the adviser software market, with many of the best known software providers changing ownership.

Skandia, Friends and Axa are top with IFAs

Skandia, Friends Provident and Axa are the protection providers with the highest satisfaction ratings from IFAs on nine service areas, including commission admin and application process time, says Defaqto. Scottish Provident, Norwich Union and Bupa had the lowest satisfaction ratings but did better in the image and reputation category.

People will still be wary of pension perils

I try to be circumspect in my comments on the utterances of other IFAs. However, Tom McPhail’s prediction last week that savers will accumulate 10,000 by way of an Isa with a view to rolling it over into a personal account come 2012, thereby “hugely destabilising the IFA industry” is, to my mind, nothing more […]


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