View more on these topics


Do you think whole-of-life policies have been widely missold?”Yes. I think if whole-of-life products have been sold as savings vehicles then there could be a widespread problem.”

Geoff Castell, Geoff Castell”No. Personally I would not say there is a great problem. The products are fine, it is a question of how they are sold.”

Mark Gibbons,M Gibbons Financial Advisers”No. I can only go on my own experience. If you follow all the guidelines, and we most certainly do, then it is unlikely that you will have missold.”

Martin Murdochson,The Independent Adviser Service”Yes. When they were sold by direct salesforces, sometimes it was the only product they had available to sell.”

Paul O’Neill, Life-Plans Direct”No. That is a generalisation and is only likely to be the case for people sold policies on a maximum rather than a balanced basis.”

Graham Carver, York Financial Management”Yes. Problems tend to be on maximum cover.If people are going for£50 a month over 10 years we would be very much against that.”

Graeme Virwin, Baxter Fensham”Yes. Where there will have been misselling is on any policies that were sold after 1992 as a savings vehicle. The maxi basis is more down to whether it suits individuals circumstances.”

John Bruce J Bruce Legal & Financial”Yes. But I would doubt whether it is IFAs that have been the main cause of misselling, it is more likely to have been direct salesforces.”

Byron Longstaff, Byron Longstaff Independent Financial Consultancyno 38%Yes 62%


Cofunds crashed Christmas

IFAs are demanding compensation from Cofunds after it bombarded computer systems with thousands of copies of a Christmas greeting, crashing networks and halting business. Hundreds of IFA firms were faced with an unstoppable barrage of emails from Cofunds as the same Christmas tidings were sent over and over again. Some firms received as many as […]

David Severn

I t is a question of gamekeeper turned poacher, as has been said many times since it was revealed that David Severn, currently head of head of retail investment policy at the FSA, becomes Aifa director general next month. But can Severn really pull off the top job in IFA lobbying or will he find […]

B&B hit with bond misselling fine after failing to heed FSA warnings

The FSA has fined Bradford & Bingley £650,000 for widespread misselling of with-profits and precipice bonds. B&B has also agreed to pay £6m in compensation to 6,800 customers affected by the misselling which took place between January 2001 and December 2002. The FSA says B&B did not make suitable recommendations to customers, did not maintain […]


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