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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



Vive la différence

To continue the structured product debate following Peter Hargreaves’ article, the first thing I will say is all that investments are different.

Trampled in U-turn

Aifa director general Chris Cummings says advisers will feel “let down and trampled on” by the FSA’s RDR U-turn and accused the regulator of caving in to heavy pressure from the banks.

Yield marshal

The formidable equity income sector is soon to shrink as the IMA looks to tackle funds not conforming to its yield requirements – a measurement that has been difficult to do in the current climate. In recent weeks, the IMA has sent questionnaires to groups asking about the yield on their income funds and whether or not they believe them to be sustainable.


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