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Towry chief says FSA should not restrict platform choice

The FSA should not have a role in whether advisers should use more than one platform or wrap provider, says Towry Law Group chief executive Andrew Fisher.

Speaking at a wrap panel debate at Osney Media’s financial services distribution summit, he said: “The FSA saying advisers should consider using more than one platform is nonsense. I am not going to have my regulator telling me what hardware or software I can use and it is the same with platforms.”

The debate also looked at the issue of transparency. Seven Investment Management marketing director Justin Urquhart Stewart said transparency is an essential part of wrap but Standard Life distribution strategy manager Peter Jolly said there are arguments for and against it.

Jolly said: “There is only so much information the consumer can cope with. We decided early on to have the product price which includes fund management charges and another price for the advice. In hindsight, this may not have been the right decision. We will continue to review this.”


Government unveils £500m scheme to accelerate house supply

The Government has unveiled a £500m package of proposals to accelerate the building of homes by rewarding councils that speed up housing supply delivery and maximise the supply of building land in their areas.The incentives, provided through the new Housing and Planning Delivery Grant, will rewardlocal authorities which show they are leading the way in […]

Pearl hit for six by role reversal

As the Twenty20 Cricket World Cup kicks off this week, Resolution and Friends Provident pulled off a masterstroke of their own by hitting potential rivals Pearl for six as they continue to fend off those bidding to derail the creation of Friends Financial plc.

Skipton Building Society launches two new capped rate mortgages

Skipton Building Society has launched two new capped rate mortgages.The new three and five-year base rate tracker capped mortgages are capped at 6.44 per cent and 6.49 per cent respectively.Head of lending Colin Dale says: “Our two new base rate tracker capped mortgages have two clear benefits – they give borrowers the confidence in knowing […]


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