View more on these topics

Why the powers that be have lost the plot

Sandler – who is this man? – wants the IFA to be the main distribution channel for a new stakeholder suite (Money Marketing, October 17). Has he ever been involved with pensions or the sales of? Surely not. For an industry that is slowly but surely being killed off by politicians and regulation, don&#39t we just need a Sandler.

How do these brains actually reach their exalted positions? You do not have to be over-intelligent to realise that pensions do have to be sold. Most members of the public do not positively go out with a view to buying a pension on Saturday morning – or at most other times, it would seem at present. So they have to be sold. To get a salesforce to sell, you do not reduce their ability to earn.

One day, perhaps, the powers that be will realise that if they wish to re-establish the concept of pensions once again and to create more sales, they will have to ensure that those in the industry can earn reasonably from their activity – a pension salesperson is now earning through stakeholder probably one-fifth of what they were earning 20 years ago.

If the Government wants a healthy market in pensions, then let the providers charge for their activity. I personally wish to distance myself as far as I possibly can from stake-holder and will only provide advice on this topic reluctantly and grudgingly to my existing clients.

Unfortunately, it would appear that those running our industry really have lost the plot. However, for me, at 59 years of age next month, I can honestly say that I have seen the best years in our business – with lots of luck, five reasonable years and then the job centre, I predict.

Michael Hollingdale

Harvey Curtis Associates,

Brighton, East Sussex


NS&I offers bond as it looks to FTSE recovery

National Savings & Investments is looking to capitalise on indications that the FTSE 100 could be on the path to recovery with the launch of a new series of guaranteed equity bonds.The move comes as economist Lombard Street Research director Stewart Robinson predicts the index will enjoy reasonable growth over the medium term after hitting […]

Groupama – Cashwise

Friday, 25 October 2002 Type: Healthcare cash plan Minimum premium: £9.80 a month Minimum-maximum ages: 16-65 Maximum benefits: Level one &#45 dental £65, optical £70, inpatient hospital admission £20, accident inpatient hospital admission £20, maternity inpatient hospital admission £20, recuperation payment £70, hospital parental stay £20, hospital day care surgery £40. Level two – dental […]

SWIP trusts beats all-share index by 28 per cent

Scottish Widows Investment Partnership has appointed Matthew Harris as investment director to its Japanese equity team. Harris, 28, has more than seven years experience managing Japanese funds at Aegon Asset Management. He will work on Japanese institutional funds with responsibility for research in both retail and institutional funds.

SANDLER FORUM: Chance to voice concerns

With all due respect to the Government, the fact that a 1 per cent price cap is simple to convey is no basis for reforming a sector.Money Marketing this week launches the Sandler Forum in a bid to investigate the implications and the possible downsides or positives of the stakeholder suite and the Treasury reviewer […]

FAMR – a familiar response

Pension specialist Fiona Tait takes a look at the Financial Advice Market Review and assesses the three areas where it suggests improvements can be made With significant budget changes ruled out (for a while anyway), the pension community briefly turned its attention to the FCA’s final report on its Financial Advice Market Review (FAMR), hoping […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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