View more on these topics

Stop moaning and face up to change

I have been staggered by the amount of negative responses from the IFA community to the FSA&#39s recent proposals which have appeared in the trade press in the last two weeks.

It is time that those who only seek to protect their vested interests in the status quo should shut up and not get in the way of the industry&#39s metamorphosis to becoming a profession.

These proposals are the best thing that could have happened to both consumers and professional intermediaries alike.

The only way that consumers can get impartial, unbiased advice is to pay someone a fee for their time.I do not care what inter-mediaries say.

If they continue to be paid by product providers, their advice will continue to be biased, unimaginative and generally poor value for money.

We decided to redesign our service and to charge for the amount of time we spent on clients&#39 affairs.

The arrangement of products is now almost incidental to the process of helping clients plan the financial side of their lives. The process was not without its difficulties but now that the changes are complete, we are more profitable and in a great position for the future.

IFAs should spend less time bleating about the regulator changing the goalposts and spend more time thinking about how they are going to improve the service they give their clients.

Giles Pidcock


Baxter Fensham,



Another MVA by Equitable

Equitable Life has slapped a market value adjuster on yet another set of policyholders who have so far managed to escape the 10 per cent penalty on early transfers.Retirement annuity pension policyholders over 50 wanting to take benefits before their contractual retirement age of 60 had been allowed to transfer in to a personal pension […]

Booklet will help IFAs into business insurance market

Canada Life is publishing a guide for IFAs looking to tap into the business insurance market.The life office says penetration in this market is possibly as low as 5 per cent of the 1.5 million potential firms needing cover, offering a solid opportunity for IFAs looking to expand.The guide, Protecting Business Wealth, includes details of […]

A capital idea from Jupiter

Jupiter has introduced the distribution fund, a unit trust that aims to produce income of 5 per cent a year with the potential for capital growth. The unit trust invests 65 per cent in corporate bonds and other fixed-interest securities, with the remaining 35 per cent going into high-yield UK stocks and shares.The corporate bond […]

Skipton Building Society – 5 Year Guaranteed Growth Bond

Friday, February 22, 2002 Type: Guaranteed equity bond Aim: Growth by tracking the FTSE 100, S&P 500 and Dow Jones Eurostoxx 50 indices Minimum-maximum investment: £2,000-£50,000 Term: Five years Guarantee: Capital returned in full along with up to 22% growth at end of term Return: Up to 50% growth at end of term Interest rate: […]

IHT: What were you doing in 2009?

One of the best sources of new business is your existing clients and, if they are estate planning clients, regular reviews are needed because people’s inheritance tax (IHT) problems tend to only get worse. Now, not a lot of things remain at the same rate as in 2009. If we turn the clock back, it […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm