I write with reference to Broker Talkback in the Money Marketing issue of August and I must say I am astonished that 38 per cent of so-called financial advisers consider selling their firm to a life office and 12 per cent are unsure.
It is not possible to be a financial adviser and not independent. You may be a salesman but 90 per cent of the time a financial adviser is not selling anything but is advising.
This particularly includes existing policies and arrangements. In a multi-tie situation, the vast majority of these are going to be excluded and the client then has to go elsewhere or be churned.
It is sad that a lot of people in this industry are prepared to sell their souls instead of supporting their own profession.
Jamieson Financial Management,Bognor Regis,West Sussex