I note that Which? claims to have visited 57 adviser firms. If these firms charged, say, just £200 each for the advice, this would have cost Which? £11,400. If Which? believes fee-based advice is best, it should put its money where its mouth is and pay these firms or shut up.Just think how expensive mystery-shopping would be if all firms went fee-based. Why did Which? not compare fee-based advice with commission-based? Is it because it would have cost it too much? It is strange that the legal profession is under pressure to go no win, no fee while we are under pressure by some factors to go fee-based. Clients do not want us to charge fees but what has it got to do with them? Which? knows best. Michael D Brayne Brayne & Co, Hove, East Sussex
The stormy shores of Dorset were not the most inviting of places last week for anyone trying to wring financial services policy details out of David Cameron’s cuddly sunshine Tories.
Swiss Re is calling on the Association of British Insurers to scrap two of the cancer conditions covered under its new critical-illness definitions so consumers cannot claim for them, Money Marketing understands. The reinsurer is believed to have told the ABI that it wants the cancers to be taken out of the conditions covered before […]
Having worked over the years with a number of advisers who were, let us say, keen on bond rebroking, I have always been a bit suspicious of whose interest is really being served. What Glynn Downton fails to point out (Money Marketing, September 28) is that the new bond he has recommended to his clients […]
HSBC is recruiting a treating customers fairly manager on a salary of up to 45,000 plus benefits. The job is based in the firm’s Canary Wharf office in London’s Docklands with the aim of embedding the FSA’s TCF initiative across the bank’s business. The manager will be involved in strategy, sales, advice, product design and […]
The insurer UNUM has just published a new report on The Future of Employee Benefits, which makes an interesting read for anyone considering reshaping their existing remuneration package.
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It is encouraging to see the FCA close in on lazy fund management, but more needs to be done Without fanfare, the FCA has confirmed its intention to punish lazy fund management. Several groups have been persuaded into voluntarily compensating investors who bought their beta-posing-as-alpha products, otherwise known as closet trackers. The regulator suggests that […]
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