AXA Capital Investment Bond and Distribution Fund

Aegis

earlgrey wrote: »

Exactly. So if an IFA tells a client that the fee will be taken entirely from commission then he wouldn't be able to recommend Index-linked savings certificates, even if appropriate, and would have to recommend products that do pay commission.

However, if the client is told in advance that their fee will be fixed in advance but will be automatically offset by the commission rebate, this amounts to fee-based advice but with the customer receiving less commission and not paying the fee up front. This seems sensible to me. In the case that the National Savings products are taken, the customer would end up paying the full fee themselves due to the lack of commission.

I believe this is the basis of a hybrid fee structure, and it is one way to remove the bias while still stopping the necessity of paying up-front fees for the customer.

[/quote]BTW Aegis, are you with a bank sales force?[/quote]

With a bank, but unregulated rather than part of the multi-tied salesforce. This may change next year as part of my career path that eventually goes to the whole-of-market position I'd actually like to be in.

earlgrey_3

jem16 wrote: »

He has clearly told everyone on this board on numerous occasions. You are clealry blinded by this bias against IFAs that you cannot see it. Or perhaps you choose not to. It was also given in reply to one of your other rants against him.

Just in case you have your glasses on now;

Yes Jem, I saw that among many others. Which makes it strange that when I said the people he used were self-employed and commission-only he called me a liar. :rolleyes:

He also said: "Salesforces are the spawn of evil in financial services." which is rather harsher than anything I have said about them.

So instead of just blustering and calling people liars wouldn't it be better to come clean and make absoutely clear his scale and system of fees instead of saying "what's it got to do with this thread" as he said earlier today?

Saying "Typically though its...", as you have quoted him saying is not a scale of fees or especially transparent but seems as much as he's willing to say. More like catch as catch can.

Wouldn't he also be better to be honest about his background and the basis of employment for the salesmen he employs? If he is going to be allowed to use this board to pick up business shouldn't we have complete openess?

We need IFAs but above all we need honest and unbiassed IFAs.

earlgrey_3

Aegis wrote: »

In the case that the National Savings products are taken, the customer would end up paying the full fee themselves due to the lack of commission.

So if the customer was under the impression that he would not have to pay fees, likely to be very unhappy and so unlikely to happen in practice.

Aegis wrote: »

With a bank, but unregulated rather than part of the multi-tied salesforce. This may change next year as part of my career path that eventually goes to the whole-of-market position I'd actually like to be in.

So on salary plus commission? You've always stuck me as being intrinsically honest and decent. I hope you don't lose that honesty if you ever go commission only.

To what extent would you agree with Dunston that "Salesforces are the spawn of evil in financial services."?

jem16

earlgrey wrote: »

Yes Jem, I saw that among many others. Which makes it strange that when I said the people he used were self-employed and commission-only he called me a liar. :rolleyes:

Why do you continue to twist what he said?

dunstonh wrote: »

For the record, earlgrey is telling lies about my business. He does this on multiple threads. He clearly has an issue with IFAs and I take the brunt of it here.

So instead of just blustering and calling people liars wouldn't it be better to come clean and make absoutely clear his scale and system of fees instead of saying "what's it got to do with this thread" as he said earlier today?

Exactly what has his business model to do with the thread that he replied to?

Wouldn't he also be better to be honest about his background and the basis of employment for the salesmen he employs? If he is going to be allowed to use this board to pick up business shouldn't we have complete openess?

Where is the proof that he uses this board to pick up business? By the way I am still waiting on this from the last time I asked you the same question.

We need IFAs but above all we need honest and unbiassed IFAs.

What we need is for you to get off your moral high horse and to stop making every thread that has anything to do with an IFA degenerate into farce because of your clear vendetta against them.

Aegis

earlgrey wrote: »

So if the customer was under the impression that he would not have to pay fees, likely to be very unhappy and so unlikely to happen in practice.

I gues that depends how well the fees were explained ahead of time.

So on salary plus commission? You've always stuck me as being intrinsically honest and decent. I hope you don't lose that honesty if you ever go commission only.

Salary plus bonus, and my bonus is largely based on how much money my customers bring in to the bank and how much lending they take out.

I'm known to give the best possible deals despite sabotaging my own bonus to do it, so I hope that describes how honest I can be. I just wish I had better savings products to offer right now, as I feel awful when people ask me what they're currently getting on their accounts!

To what extent would you agree with Dunston that "Salesforces are the spawn of evil in financial services."?

I think they're the worst way to solve financial problems. The main advantage is convenience. The commission levels are generally much higher and the product range is much smaller, so there's little actual advantage other than the convenience factor.

earlgrey_3

Aegis wrote: »

I'm known to give the best possible deals despite sabotaging my own bonus to do it, so I hope that describes how honest I can be. I just wish I had better savings products to offer right now, as I feel awful when people ask me what they're currently getting on their accounts!

Good for you. Wish there were more like you. I have to say that on the one occaision I've had the services of a bank adviser he came across as extremely honest and ended up saying he couldn't offer any better than the investment arrangements I already had. Bank advisers seem to get a bad press on this board which may be generally true for the products but not necessarily the staff.

I assume that not always having the best products can be true for any one in sales.

Jem, according to Dunstonh the number of sales he gets from this board is small. What small means wasn't clarified when he said that or whether they justified the 27,000 posts he has made here day in and day out. If you want precise details then I suggest you take it up with Dunstonh himself. You like to regularly pop up in any discussions to intervene between Dunstonh and I but it isn't a matter for me and with respect you and your unfailing support for commission based IFAs aren't of any interest to me. If you want details then you ask him. I just happen to think your touching and undying trust is misplaced. I'm not a free info service for you and don't come here to sell anything.

So ask him and see if he'll tell you. (I'd love to know how many sales leads he gets here to justify his time too.)

PS And if he'll give you precise details of his fee structure and salesmen/advisers without his usual smoke and mirrors we'd all love to hear that too.

jem16

earlgrey wrote: »

You like to regularly pop up in any discussions to intervene between Dunstonh and I but it isn't a matter for me and with respect you and your unfailing support for commission based IFAs aren't of any interest to me.

Nothing to do with support or otherwise for IFAs. I would just like to read a thread without reading your constant attacks against IFAs. It adds nothing to the discussion.

If you want details then you ask him.

It's not me who is constantly asking for details of his business.

I'm not a free info service for you and don't come here to sell anything.

I don't remember asking you anything other than to prove your accusations.

So ask him and see if he'll tell you. (I'd love to know how many sales leads he gets here to justify his time too.)

PS And if he'll give you precise details of his fee structure and salesmen/advisers without his usual smoke and mirrors we'd all love to hear that too.

You are obvioulsy the one fascinated by him.

dunstonh

If you are saying that the fee is agreed to be a straightforward £1000 with all commission returned regardless of whether the level of investment is £1 or £1 million then what you are describing is a form of set fee. That is not the fee structure operated by Dunstonh.

That is one of the fee options I operate and Jem has copied from one of my posts higher up.

Yes Jem, I saw that among many others. Which makes it strange that when I said the people he used were self-employed and commission-only he called me a liar. :rolleyes:

You said they were commission salesmen. They are not. Hence you lied.

Wouldn't he also be better to be honest about his background and the basis of employment for the salesmen he employs?

See what I mean. You say I employ salesman. I dont.

If he is going to be allowed to use this board to pick up business shouldn't we have complete openess?

Please provide evidence of that to the board admin otherwise you should shut up.

Jem, according to Dunstonh the number of sales he gets from this board is small. What small means wasn't clarified when he said that or whether they justified the 27,000 posts he has made here day in and day out. If you want precise details then I suggest you take it up with Dunstonh himself. You like to regularly pop up in any discussions to intervene between Dunstonh and I but it isn't a matter for me and with respect you and your unfailing support for commission based IFAs aren't of any interest to me. If you want details then you ask him. I just happen to think your touching and undying trust is misplaced. I'm not a free info service for you and don't come here to sell anything.

You are not the board policeman. Board idiot maybe, but not policeman.