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“Yes. Until the FSA clears up the definitions of misselling and sorts

its problems out with the underwriters, what are we meant to do?”

Stuart Feast, Feast Noble & Co

“No. I would not be com-fortable with continuing, even with the

waiver. You could be open to future claims. Any IFAs who takes it is

stark raving mad.”

John Ryan, Ryan&#39s Financial Services

“No. It is so dangerous to operate without PI cover. If the FSA did

give you the waiver, I think you would have to think very hard about

whether you want to operate without it in the current climate.”

Adrian Sichel, Coombe Financial Services

“Yes, I think it is an alternative to rocketing PI but I am not sure

it is really in the public interest to suspend cover.”

Clive Sampson, John Eke & Partners

“Yes, it is definitely a good idea. No one can do without cover in

the long term but this is a temporary measure.”

Chris Lioe, Emerald Financial Management

“Yes, it will give us breathing space. For people finding it

difficult to obtain cover or who are facing exorbitant rates, then it

sounds like a way forward but it depends on what safeguards are in

place to cover the gap caused by a waiver.”

Gareth Edwards, Element Hinton & Co

“Yes. Too right. When I see the price of the premiums, I might as

well pay compensation myself.”

Bob Espie, Bob Espie & Co

yes 76%

no 24%


Take it to the limit

There has been general agreement in the industry that the InlandRevenue&#39s tax simplification proposals for pensions are a good thing.According to the consultation paper, over 99 per cent of people willbe free to save more into pensions than they can at the moment.Cynics might argue that the number of people caught by the limit ismore […]

Dampier says Isa sales are dire

Hargreaves Lansdown bel-ieves stocks and shares Isa sales haveplummeted by as much as 80 per cent this season, with some fundmanagers suffering a 90 per cent slump in new business.Head of research Mark Dampier says war in Iraq, the three-year bearmarket and scandals in the structured product and split-capitalinvestment trust sectors have prompted almost all […]

Catalyst brings together EIS portfolio

Catalyst Investment Group has established a second enterprise investment scheme (EIS) fund that invests in a portfolio of between four and 15 EISs. The fund aims for growth by investing in small and developing companies over a five-year term. With a minimum investment of £3,000, it is designed as an alternative to EIS portfolio management […]

R&SA hit with £950,000 endowment fine

Royal & SunAlliance Life and Pensions has been hit with a £950,000 fine by the FSA for mortgage endowment related failings.The action marks the second time the life office has been fined in less than a year, following on from the record £1.35m fine imposed on it for its second offence under the pensions review.This […]

Life cover for life

When someone mentions whole of life plans, most people will think of a niche product that serves as an inheritance tax planning tool for high-net-worth clients. And it’s really not surprising they’ve been pigeonholed in that waybecause before the arrival of RDR in 2013, that’s more or less exactly what they were. For advisers thinking […]


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