View more on these topics

We challenge the Treasury to bring debate into open

The Treasury and FSA are being challenged to come clean on their plans for polarisation ina Money Marketing campaign.

MM is launching the Poles Apart campaign, backed by the Consumers&#39 Association and major IFAs, to press the Government and regulator to answer 10 key questions which we believe must be answered before any change is considered.

The campaign comes as industry insiders indicate the FSA is set to examine what impact multi-ties will have on the IFA market, fuelling fears that the regulator, under Treasury pressure, sees change as inevitable.

But in a poll of IFAs carr-ied out by Money Marketing this week, 90 per cent backed the status quo while just 3 per cent advocated multi-ties or white labelling.

The position of the ABI is also under scrutiny. It called for gap-filling, known as white labelling, in a submission to the FSA, which it says was in responseto members&#39 concerns.

But of 25 life offices approached, only Allied Dunbar and Pearl publicly supported any change in the status quo.

Consumers&#39 Association spokeswoman Louise Hanson says: “We welcome Money Marketing&#39s efforts to get some answers from the Treasury about the proposed changes in the current polarisation arrangement. The existing system is the best option available. Multi-ties will create further confusion for the consumer.”

Pensions & Investment Management partner Phil Moore says: “It is important we havea campaign defending the polarisation cause.”

10 vital questions, p5; Comment, p29

Recommended

Four million shortfalls on endowments

Around four million endowment mortgage holders could be facing serious shortfalls on their policies, according to industry sources.Some 40 per cent of the10 million endowment shortfall letters going out to consumers are understood to be in the red risk of “definite” shortfall category, with another 20 per cent in the amber danger category.This is despite […]

Mortgage Next designs brochure for range

Mortgage Next has produced a new range of literature for IFAs designed to help explain its M+ range of mortgages.IFAs are being offered a four-page brochure which summarises the M+ range. They can also request stocks of a 10-page brochure to send to their clients.The independent mortgage company says the literature is being distributed to […]

Standard Life to meet its latest foe

Standard Life has agreed to meet Edinburgh businessman Gordon Hart who is leading the latest charge against its mutual status. Hart has revealed plans for his demutualisation campaign on his website. He does not intend to attempt to force another vote immediately but instead wants an independent assessment of the company’s value. He claims in […]

Perfect time for IFAs to demonstrate value

For many IFAs, the next six to 12 months will represent a watershed in terms of client communication. Not for the first time in recent years, employers are faced with changes in pension legislation which cannot be ignored (unless the prospect of a fine from Opra is not an issue) and they have a specific […]

Who cares?

By Tracey Dickson, marketing consultant There are almost 7 million carers in the UK – that’s around 10 per cent of the population who provide unpaid care for a disabled, seriously ill or older loved one.1 But according to a report from the charity Carers UK, 20 per cent of people providing 50 hours or more of care […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment