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We must resist referral move

I refer to the article headlined, IFAs lose accountants referral deal (Money Marketing last week).

The suggestion that the Law Society may follow the example of the Institute of Chartered Accountants of England and Wales and allow lawyers to make referrals to multi-ties should be resisted very firmly by our profession.

There is only one channel for our clients to get proper financial advice and that is through IFAs.

I have said a number of times before in your pages that banks and building societies should be avoided by the public for financial advice and I firmly believe that multi-ties will easily slip into their ethos of selling and not advising. This was recently borne out by Lloyds TSB advisers complaining that their targets were based on sales and not on the ability to give customers proper advice.

Barry White
Practice development
Humphries Kirk Solicitors,


Regulator will probe advice issues

The FSA will consider issues of advised versus non-advised sales next April, raising hopes that Money Marketing’s No Advice No Protection campaign will succeed. The regulator will analyse consumer awareness around the lack of redress that the public have with the Financial Ombudsman Service on protection policies bought direct as part of a wider review […]

Get back to basis

Clerical Medical retirement planning manager Steve Meredith says the new year brings important pension opportunities with the end of carryback and basis years

Come down hard on fraud

Employee-led fraud is continuing to go undetected within UK business. There is currently no regulatory requirement to state fraud losses in a companys accounts, which would focus the minds of management on the issue.Nor will any successful company (without glaring financial black holes) feel the need to rock the boat and undermine staff morale by […]

Responsibility Matters

The latest update from the Sustainable Investments Team at Royal London Asset Management, Responsibility Matters, is now available. In this edition the team look at issues such as the growing acceptance of sustainable investing and technology in China. Read the update here: The value of investments and the income from them is not guaranteed and […]


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