Posts tagged as commissions

04 Nov 2006

Commission creep: an example from our postbag

‘Here’s a genuine reward, with not a serpent in sight’, read the blurb. We rarely single out individual firms as it can detract from the generality of an idea. Yesterday’s post to No Monkey Business (as a potential business introducer) included an example of commission bias at work but since it claims to be a response to demands from the IFA community, it does itself claim to make a general point.

read more Commentary by Stuart Fowler
30 Oct 2006

Transparency in charges a long way off

Published in FTfm, 30th October 2006 (Pauline Skypala: on our business model)

read more News by Stuart Fowler
23 Oct 2006

More tall stories about industry costs

FTfm editor Pauline Skypala reports in today’s weekly review of the fund management industry that indpendent consultants Oxera have supported (in a report out later this week) the Association of British Insurers’ claims that an industry-led model for the new National Pensions Savings Scheme will not have higher costs than the centralised model (with competition by contract bids) favoured by the Turner Commission.

read more Commentary by Stuart Fowler
30 Sep 2006

Commissions: the industry strikes back – with disengenuous nonsense

Stung by the strength and frankness of the FSA’s rebuke of the long-terms savings industry at Gleneagles (see Commissions: you’re going to have to help yourself), Stephen Hadrill, DG of the Association of British Insurers, struck back at a Labour Party fringe meeting in Manchester. “Carry on churning” said the headline in the advice industry rag MoneyMarketing reporting his reposte.

read more Commentary by Stuart Fowler
29 Sep 2006

Commissions: you’re going to have to help yourself

The FSA understands perfectly well that the commission-based model for selling long-term savings products to the public is deeply flawed. In a recent speech to industry leaders, Chairman Sir Callum McCarthy spelt it out. The regulator’s powers do not extend to forcing changes in the business model.

read more Commentary by Stuart Fowler
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