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“When banks win business from the industry, it is through lethargy. If depolarisation breeds more lethargy, maybe they will.” Malcolm Fletcher, Fletchers “I am not as positive as Paul Smee. Just because we have won the last few battles against bancassurance does not mean we will win this one. We will have to fight hard.” Geoff Gardner, Geoff Gardner Executive Financial Management “Yes, the quality of advice provided by IFAs will always see us gain the market share.” Aidan Burke, Michael J Burke Financial Services “Yes. IFAs go into more detail and the banks cannot do that.” Paul Traynor, Paul Traynor Financial Solutions “Depolarisation will not make an ounce of difference. People go to banks or people go to IFAs because that is what they are used to doing.” Craig Boyle, Adcas

“Yes, I think IFAs will keep their position in the market because their clients trust them more than the banks. Clients are looking for someone who will act on their behalf, not their company&#39s.” Kenneth MacPhie, Anderson MacPhie Financial Services “Yes. They do not offer the kind of service that we give our clients.”

Anthony Key, Gibbons & Key

“No, I think banks will steal market share from IFAs.”

Phil Humphreys, Humphreys Financial Services

yes 63%

No 25%

maybe 12%


CPG up for sale after cash crunch

High-net-worth IFA Corporate Planning Group, the firm set up by former Inter-Alliance director David Tuson, has been placed into administration and put up for sale. The Fareham firm, which had 82 RIs at a number of offices across the South, closed to regulated business on Monday because of a cash shortage. The advisers were employed […]

Willetts condemns Government&#39s pension wind-ups

Shadow pensions secretary David Willetts is hitting out at what he calls the Government “failure” to help the estimated 60,000 victims of pension wind-ups. Willetts will be challenging the Government&#39s stance on windups at a debate tomorrow at Westminister Hall, entitled Crisis in Pension Scheme Windups. He says ministers have described the early 2005 projected […]

Pru reveals tough year in the UK market

The Prudential has announced a 27 per cent drop in group wide operating profit for 2003 at the same time as some UK with-profits policyholders see a drop in their regular bonuses. Annual bonus rates on its Prudence bond were announced last month to remain unchanged, but the insurer has now revealed that personal pensions […]

Conmen jailed after IFA&#39s detective work

An IFA has stopped a notorious gang of conmen preying on the disabled and elderly after spotting a series of suspect payments leaving his client&#39s bank account. David Rackham, a Havant adviser with Berry Birch& Noble Financial Planning, became suspicious when he saw thousands of pounds disappearing from his client Patrick Pitt&#39s account. Rackham, who […]

Is three a crowd?

The pension versus Isa debate has raged on and off for years. Les Cameron, head of technical at Prudential, asks if three’s a crowd.   I think the debate was arguably settled by pensions freedom when the biggest downside of pensions – limited access and poor death benefits – was fundamentally changed. Total access, albeit with […]


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