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Sofa offers FPC aid as it moves toward professional status

Sofa has agreed its strategic plan to the end of 2005 which it hopes will be the first step towards turning the advisory industry into a profession.

The plan includes a review of Sofa&#39s membership proposition for all members and it will also introduce a new category for those studying for the FPC exam, to be known as student membership. Sofa plans to offer a range of events such as study groups to support students.

It will continue to work with the CII to get a chartered title and will review its regional structure.

Sofa hopes to get the message across to consumers that membership of a professional body is an essential part of choosing an adviser as it means the adviser must keep up to date and adopt a professional code of conduct.

Managing director Bob Bullivant says: “We have consulted widely with members and the plan is the result of an intense period of activity. It is important for the industry that we encourage as many people as possible to enhance their knowledge. Knowledge is profit and knowledge is the basis for competence.”

Chairman Nick Bamford says: “This plan is the result of a period of intense work by the board and is the first step to achievement of our vision. Each board member will be working with the full-time secretariat to achieve challenging objectives.”


Headdon gets 6 year FSA ban

Former Equitable Life chief executive and appointed actuary Chris Headdon has been banned by the FSA from holding senior roles in financial services companies until May 2010. Headdon&#39s ban stems from a failure to disclose to the FSA a side-letter to an agreement with the Irish European Reinsurance Company that allowed for the cancellation of […]

Alliance & Leicester – 10 Year Base Rate Tracker &#45 Standard Package

Type: Tracker mortgage Tracker term: 10 years Tracker rate: 0.99% above Bank of England base rate Payable rate: 5.24% Minimum loan: £25,000 Maximum loan: Up to 95% of valuation subject to a maximum of £250,000, up to 90% of valuation subject to a maximum of £500,000, up to 85% of valuation subject to a maximum […]

Exclusive Connections – Next Move Tracker

Type: Tracker mortgage Tracker term: Lifetime of loan Tracker rate: 1.35% above Bank of England base rate Payable rate: 6.5% Minimum loan: £25,001 Maximum loan: Up to 85% of valuation subject to a maximum of £500,000, up to 80% of valuation subject to a maximum of £800.000, up to 75% of valuation subject to a […]

Quote winner

Since the introduction of basic computer technology into IFAs&#39 offices, there are those who believe that technology delivers far less than it promises. This begs a very good question. If the experts claim they can make processes easier, faster, smaller or more foolproof, why do some advisers still seem reluctant to adopt them? Could it […]

Is volatility dead? No, sell credit

There are several arguments that one could currently make for why credit markets look unattractive. These include signals that the US economy is in late cycle, the fact that corporate leverage has been increasing (with 2016 setting a record for the amount of global bond issuance), and that US high-yield default rates have risen considerably […]


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