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Turning a negative into a positive

I was very disappointed by the recent article in Money Marketing by Bhupinder Anand, who I know is held in high regard.

His criticism of Hargreaves Lansdown research director Mark Dampier appears to me to be based on the view that Mark had been quoted as saying something which may not have been positive for the financial services industry.

Many of the new clients we see at Warwick Butchart do not have positive past experiences from their interaction with the financial services industry. However, if as advisers, we can build a reputation and regard for providing views and advice based on honesty, integrity, experience, knowledge and research – which is exactly what Mark Dampier has done – we would all be able to worry less about the spin of providing positive industry messages.

As a serious specialist investment adviser myself who has been advising clients for more than 20 years, I know that Mark is absolutely right to draw attention to the rate paid by the ING account which is indeed “hard to beat”.

It is a benchmark that we have to be aware of if the risk premium for investing in equities and fixed-interest-based collective investments is to be justified over the long term to clients. However, it is my sincere belief that we can justify this risk premium to investors and I suspect that Mark Dampier and the team at Hargreaves Lansdown share this view.

David BurrenManaging director,

Warwick Butchart Associates

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