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,
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's 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.