I was particularly interested to read your report of Ruth Kelly's statement that independent advisers are crucial (Money Marketing, October 4).
Isn't this what I, and many others, have been saying through the good offices of your paper over the past few years? Making independent advice available to anyone who needs it, regardless of their financial means, is exactly what IFAs do by using the commission route for their income.
In fact, I have made this very point as my argument for not converting to fees. Although some journalists and Government ministers seem to enjoy having a go at the amount an IFA earns for some products, they ignore the fact that advice is often given without the IFA earning a bean for it.
This is the way income tax scales work for the Government's income and it works well, so why shouldn't an IFA use a similar method? At last we have a Treasury economic secretary who has not shied away from doing a U-turn on Government thinking and has actually come out in favour of IFAs. Will we now see a change in stakeholder rules to allow for funding of advice?
The Ethical Partnership,Whyteleafe, Surrey