UK: RESTRICTIONS LIFTED FOR MULTI-TIED AGENTS
Article Abstract:
Multi-tied agents will be allowed to sell Cat-marked ISAs and stakeholder pensions from 6 April 2001. The FSA has published further draft rules that will permit financial promotions to be offered directly to the public by multi-tied agents, a move which critics say will confuse customers. A wide range of changes is planned, including changes to advertising rules, and the proposals should be operational by April and a second wave of considerations, aiming at a complete reappraisal of the polarisation system, will begin in July. AIFA's director general, Paul Smee, has expressed concern at the changes.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: FSA LEAGUE TABLES GET INDUSTRY GREEN LIGHT
Article Abstract:
The Financial Services Authority to go ahead with provider league tables after only one in twenty respondents opposed them. There are planned tables for pension, investment and mortgage products. The tables will be unveiled in the first half of next year. Criteria to be covered by the tables include flexibility, CAT/stakeholder criteria, range of funds, sales advice and the returns offered. The FSA will not include past performances, as the link between past and future performance is tenuous. Consumers could mis-buy using this criteria.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2000
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UK: Research shows consumers trust tied agents
Article Abstract:
Research from the Financial Services Authority shows that consumers trust tied agents and welcome the convenience of using them. However, the research shows that independent financial advisers (IFAs) have increased their share of the new business market to 54% in 2000, from 47% in 1996. Gross retail sales via IFAs reached GBu 22.5bn in 2000, against GBu 4.7bn in 1995.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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