Should indemnity commission be abolished?“No. With a fee structure, indemnity commission helps to keep up the level of advice that IFAs can provide.” Andrew Walter Jackson, Egan Roberts Financial Services”No. It is an option for payment. If it is taken away, clients unable to pay fees will not be able to get advice.” Nigel Bracken, The Financial Partnership”No, There are arguments on both sides but, ultim-ately, how commission is paid is less important than clients getting fair value for the advice they receive.” Matthew Saunders, Howe Maxted Group”No. I can only assume that the ABI is trying to pre-judge the FSA. I can see no reason for it and it is not something that the majority of ordinary clients would welcome.” David Leakey, David Leakey Associates”No. We get a smaller amount of commission than we used to anyway and it would mean charging the client through fees to meet the cost of our work.” Tom Rolls, Moneycare Financial PlanningYes although it is a very tough call to make and, to be honest with you, a debate has been started to create a lot of heat. I can see where the ABI is coming from. Ultimately, we are here to service the consumers. An abolition of this commission is acting purely in their interests.” Charles Kimberley, King Investments”Yes. I believe it should. It has encouraged a lot of greed within the industry and caused a lot of the problems that the industry has faced. There has got to be a better way.” Robert Corbett, Simpsons Independent Financial AdvisersYes 25% No 75%
Financial Services Charitable Foundation founder Paul Hogarth is challenging the industry to complete a three-peak 24-hour challenge in June, climbing the three highest mountains in the UK, to help with aid for countries hit by tsunami.
Four months into statutory mortgage regulation and it is just as easy to find non-compliant financial promotions as compliant ones.
Southern Pacific Mortgage Limited announces product enhancements across its entire product range. These include enhanced income multiples and higher lending values. Income multiples up to 75 per cent LTV on SPMLs Prime Product Range (Prime, Prime+, and Prime Buy to Let) and its Light Adverse schemes have been increased to 4 x +1 or 3.5 […]
FRANCIS McGEE Two truths underlie last week’s publication of new research on commission and the launch of ABI’s consultation on options for change. First, is the fundamental importance of advice to closing Brit-ain’s £27bn savings gap. Oliver Wyman’s work for the ABI in 2001 proved that. Securing the widest possible access for potential savers to […]
Vincent Chailley, CIO of H2O Asset Management, discusses the key investment factors in 2016, including volatility, the disconnection between central banks and its implications on markets, as well as opportunities that may exist for investors.
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As someone training to be a cricket umpire, fair play matters to Fortitude Financial Planning director Chris Bowmer. Doing the right thing for clients is something he has adhered to from the start of his career, even in a 1980s sales environment with nothing to gain by delving beyond a client’s surface requirements. While he acknowledges […]
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