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“Definitely, yes, to make sure people are giving genuine reasons for a transfer and are not taking full commission when a transfer is taking place.”

Jeremy Newbegin, The Ethical Partnership

“I don&#39t know. I don&#39t see any reason why they should do.”

Alan Shackcloth,AG Shackcloth & Co

“If, at the end of the day, it will help everyone, then I would welcome it. But I cannot see the grounds to do so. The transfer commission levels were sorted out and have not needed changing before the FSA came into the picture.”

Anthony Somefun, Anthony Somefun Financial Services

“I don&#39t think so. As this is the FPC guideline, why is the FSA now challenging it? Is it because the pension and FSAVC reviews are drawing to a close and it is looking for something to do?”

Andre McRobie, Paragon Financial Consultants

“Yes. There is a procedure of giving all relevant facts when a transfer is being conducted. It is too easy for an intermediary to pick up on poor performance and just recommend a transfer to a fund that is currently doing well without any guarantees that it will perform better.”

Simon Lambert, Orchard Independent

“I would have thought the FSA could find better things to do with its time. They would do better looking at all the inapp-ropriate endowments sold by the banks and building societies.”

Paul Rodker, Albemarle, Kent

yes 43%

no 29%

don&#39t know 28%


R&SA slices 20% from term rates

Royal & Sun Alliance UK Life is cutting level term insurance rates by up to 20 per cent.The new rates apply to family, business and keyperson cover under its Lifewise plan. It hopes the rate cuts will consolidate its top-five position in the market and particularly benefit those with highnet-worth sums assured.A male non-smoker aged […]

Point One expands into healthcare

Bankhall owned support services provider Point One is expanding its range of services into healthcare covering PHI, PMI and group risk schemes.The provider panel for the new service includes Bupa, Norwich Union Healthcare, Unum, Swiss Life, PPP Healthcare and Standard Life Healthcare.Point One has also announced Scottish Widows is joining its list of protection providers.Head […]

Fiona Price & Partners suffers exodus of RIs

Women-only IFA Fiona Price & Partners has been hit by a series of resignations that has cut its adviser numbers from 19 to eight.Among the latest resignations are senior staff members Victoria Amey and Margaret Hardy, who are both set to join Professional Partnerships after 12 years with the firm. They will reunite with Professional […]

Buoyant homes market encourages gazumping

One in 10 homebuyers will resort to gazumping to ensure they get their dream home, according to a quarterly survey by Yorkshire Bank.With many properties selling within days of being put on the market, Yorkshire found that a significant proportion of the 2,000 homebuyers questioned in March were prepared to adopt underhand tactics in pursuit […]


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