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Which? calls for industry to adopt list of new standards

Which? is calling on the financial services industry to sign up to a list of new standards which it says will restore confidence and avoid misselling scandals.

In a consultation paper, entitled, Time For A Change, Which? has compiled standards it believes firms should abide by, such as a set of customer principles included in annual reports to judge how well customers have been treated.

It also wants to see a move away from commission-based selling techniques, better disclosure of company information, for example, publishing records of complaint handling, and the establishment of consumer councils. Which? believes if this standard is adopted, it would help consumers make informed choices.

Chief executive Peter Vicary-Smith says: “Following a succession of misselling scandals and low market performance, consumer confidence and trust have been severely damaged. Regaining trust has to be number one priority. The industry should grasp the opportunity to build on other initiatives to encourage people back to the market. This is not only in the consumer interest but the nat-ional economic interest, too.”


To have and have not

The new 40 per cent tax break for buy-to-let landlords has, not surprisingly, attracted more media attention than any other pension policy for quite some time.

IFA’s fight finally wins critical claim

An IFA’s year-long fight for her client has resulted in £220,000 finally being awarded in a critical-illness claim which had been rejected twice.Square Mile Wealth managing director Jane Robinson pushed for the payout for a client who permanently lost the use of both legs after a fall. She is questioning whether the ABI’s consultation on […]

BCWA backs networking WFG dinners

BCWA Healthcare is teaming up with the Womens’ Financial Adviser Group to launch a series of networking dinners for members. BCWA will sponsor dinn- ers at top restaurants around the country. Quarterly events will run in Reading, Bristol, Manchester, York, Birmingham and London. Other events will be held in Cardiff, Cheltenham, Manchester, Edinburgh, Glasgow, Cambridge, […]


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