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The value of the brand

Concerning the letter in the November 13 issue, headlined, How we were forced out of business, there is one flaw in the argument.

To quote: “Our clients were always offered a choice…”, sorry, fundamentals. Is it right for an adviser to be offering choices? I thought the idea of approaching an IFA was for their specific advice based on circumstances.

Which brings me neatly to the second point – to then say “…but many people asked for endowment plans” – hardly an advert for independence, is it? Presumably, the commission was all rebated because one could argue this was someone acting in the capacity of an execution-only sale?

This letter does not attempt to answer the bigger question of everlasting liabilities, indefinite need for run-off, etc – that is an industry matter and in capable hands via Aifa.

My point is a simple one about the value of advice as a brand and, as important, how you give advice.

Ian McIver

Managing director

The Whitechurch Network

Bristol

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