View more on these topics

What advisers are saying

Editor’s comment of the week: Stop telling consumers that advisers cannot be trusted

After reading about Consumer Panel chair Sue Lewis’s comments about trust in advisers, it strikes me that the problem is very simple – consumers are constantly being told there is a problem. They have had 20 years of being told that pensions are rubbish, advice is expensive and we are all fraudulent crooks. 

Intelligent members of the public have ignored this and have found advisers they can work with and trust over the years. 

If we are to get consumers interested and engaging in financial advice and products, they need to be shown the benefits, the cost of doing nothing, and what advice should look like. This would be far more constructive than the Money Advice Service.

In eight to 10 years I will retire. I want it on record that I predict we will have a review costing billions some time soon to find out why it all went wrong, why there are no advisers, why no-one wants to provide advice and why there are only Government-run savings schemes. The review will be undertaken by those who caused the problems in the first place, while the blame will be pointed back at the advisers and industry (sound familiar?). 

In the meantime, the Government will use Nest and others to steadily gain the lion’s share of the nation’s savings.

Martin Evans

Recommended

Tony Wickenden: Dotas and IHT – what it means for advisers

Last week I took an initial look at the consultation Strengthening the Tax Avoidance Disclosure Regimes. This covers a wide range of Disclosure of Tax Avoidance Schemes (Dotas) issues but has a substantial part dedicated to the proposed expansion of the DOTAS provisions in relation to IHT avoidance schemes. The relevant provisions are reproduced below […]

Pollock-John-L&G-2012-700x450.jpg

L&G protection and savings chief John Pollock to retire

Legal & General Assurance Society chief executive John Pollock is to retire next year, the group has announced. After serving on the board for 11 years, Pollock will step down at the next annual general meeting in May 2015. He joined Legal & General in 1980 and was appointed to the board in 2003. As […]

Business-Handshake-Meeting-Deal-Low-Angular-700x450.jpg
1

Openwork acquires MetLife’s 930-strong protection network

Openwork is to take control of MetLife’s network of 930 protection advisers, Money Marketing can reveal. MetLife staff were informed of the decision at a meeting held today in Birmingham, with the transition to Openwork set to take place on 1 November. The network of self-employed advisers will now advise on Openwork’s panel of protection products, […]

HMRC-Building-700x450.jpg

Accountants cleared over £1m charity relief tax scheme

Two accountants have been cleared of cheating the public revenue through a £1m charity relief tax scheme. Montpelier Tax Consultants chief executive Watkin Gittins and former director at the firm Martin Calcutt were charged in connection with the scheme in August 2013. The trial at Liverpool Crown Court came to an end last week after […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com