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


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




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 […]


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