Standing in for the outgoing editor of the FT’s Money section, Sharlene Goff penned a very thoughtful Serious Money column this week end, raising some very logical questions about the implications of government policy for first-time house buyers. She makes three challenging propositions.
read more Commentary by Stuart FowlerThe key proposals of the FSA Retail Distribution Review were well trailed – here as elsewhere. The main one is a gamble: forcing IFAs into a professional business model will also push it even further into the high end of consumer income and assets, leaving an even bigger mass-market gap below it to be filled [...]
read more Commentary by Stuart FowlerOur observation in Anticipating the Retail Distribution Review that the business model for financial advice will not change unless and until customers learn the value of paying fees for a professional and independent service was echoed in an article in the Observer yesterday by Heather Connon
read more Commentary by Stuart FowlerBarclays Bank has moved its tanks (a 900-strong regiment of ‘Financial Planning Managers’) onto the independent financial advisers’ lawn. Barclays’ National Sales Director has told an industry conference (PIMS) that it has the people, ‘sales training programme’, processes and ‘open-architecture’ products in place to dominate the IFAs’ high-net-worth client segment. Could this be the same Barclays Bank whose people and processes were secretly filmed by Channel 4, responding to deliberate management incentives to sell unwanted and poor-value services to anyone foolish enough to wander into a branch? See my post on the programme.
read more Commentary by Stuart FowlerThe Discussion Paper resulting from the FSA review of the failed business model for long-term savings in the UK will be presented by the FSA at a conference on 27th June. No Monkey Business Limited circulated this briefing to financial journalists, anticipating what it will say. Our advice: don’t expect any silver bullet – all [...]
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