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Two thirds of advisers willing to improve standards, says Zurich

Two thirds of advisers are willing to adopt greater standards of professionalism following the QCA level 4 benchmark proposed in the FSA’s retail distribution review, reveals research from Zurich.

Research by the global insurer found that 66 per cent of advisers are prepared to study for professional qualifications to attain chartered status, compared to 54 per cent surveyed in September 2007.

Forty five per cent would welcome the introduction of a lighter supervisory regime as a non-monetary incentive for those advisers with higher qualifications.

Furthermore, 41 per cent believe the FSA has listened to the industry on incentives while just 34 per cent say that the FSA has heeded their concerns on sustainability and capital requirements. Eighty five per cent believe the proposed changes will make it harder to attract new advisers into the industry while 3 per cent thought the proposals would make it easier.

Zurich head of UK life government affairs Dr Matthew Connell says: “It is encouraging to see that advisers are supporting the FSA’s drive to increase standards of professionalism and adopt higher levels of training. The key to a strong consensus seems to be open debate and a clear, adequate transition period.”


Charcol close to completing restructure

John Charcol has taken out a new debenture loan while its company accounts and annual returns remain overdue but the firm says its restructure is “almost complete”.

The business balance

The pre-Budget report has been scrutinised for its impact on savers and investors but it also contains measures that may affect the running of IFA businesses.


Pada chief points to basic earnings’ option

Personal Accounts Delivery Authority chief executive Tim Jones has revealed that personal accounts may offer a basic pay option rather than forcing firms to use total earnings to calculate pension contributions.

Double-digit development

With world stockmarkets still highly volatile and more likely than not to fall further and the housing market in the doldrums, I believe I have found one property investment which looks likely to achieve double-digit returns. It is a £39.8m development of a prime 150,000 sq ft leisure and office property in the heart of Aberdeen.

Help, I’ve been appointed as a trustee. What are my responsibilities?

Graeme Robb, Technical Manager at Prudential looks at the key duties and responsibilities of a trustee.  This article will consider the following: Duties to be performed on appointment Investment duties Protecting the interests of beneficiaries Keeping accounts and records Distributing property to beneficiaries Duties to be performed on appointment Obtain a copy of the trust […]


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