View more on these topics

The Katz whiskers

Thank you, Harry Katz. I have not always agreed with your letters but this


time I find myself nodding to myself at every point made (Money Marketing,


last week).


I resigned from the LIA some time ago in response to their acknowledgement


only of the “independent” sector. As a trade organisation, the LIA offers a


good deal to the insurance salesman who purports to offer “professional


advice”. How often do I see that phrase in print to meaningless effect?


The LIA cannot be blamed for wanting to raise subscriptions from as wide


an audience as possible but must be representative of its members.


On matters of polarisation, the LIA is representing the majority of its


members from the tied sector. I cannot envisage an independent financial


adviser wishing to offer a limited choice to his/her clients.


On whose behalf will the adviser act? The product provider, as is the case


currently for tied advisers, or the client, as is the case currently for


IFAs?


Let&#39s clear up this distinction and allow the Independent sector only to


move towards a more professional footing in the hope that we will warrant


this standing in the eyes of the public.



Chris Holmes


Ormerods Solicitors


Croydon,


Surrey

Recommended

Matrix aims for £20m with e-Ventures fund

Matrix Securities is aiming to raise £20m for its ven ture capital trustinvesting in e-commerce.The e-Ventures fund will make investments in fast-growing companies withproducts or services that depend on the application of e-business, theinternet or systems supporting the internet.The VCT has three years to invest 70 per cent of the fund.Minimum investment is £2,500. Annual […]

Lifestyles dictating demand for loans

Flexible loans are proving popular because of the changes in UK consumers&#39lifestyles, according to Yorkshire Building Society.Yorkshire says changes in working practices mean that over 50 per cent ofits loan applications are for flexible products.The society set up its flexible mortgage last November and says the quicktake-up is due to demand among consumers for more […]

Life offices wary of criticising ABI kitemark scheme

Life offices have expressed reservations over the ABI&#39s brandaccreditation project which is aimed at raising industry standards.While many life offices agree in principle with the aims of Saltr – theSavings and Long-Term Risk project – they fear it could damage theirbusinesses.However, there is concern that if they are openly critical of the ABI&#39sinitiative, life offices […]

Chelsea mutuality attacked at meeting

Chelsea Building Society has rejected a takeover proposal from the internet service provider Totalise.The UK&#39s eighth largest building society has condemned the “blatant opportunism” that motivated the offer.Chelsea has assets worth about £5bn, whereas Totalise, only eight months in existence, had a turnover of £61,000 and lost nearly £1m in is first half year.Totalise chief […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment