What's the Difference?

jamesd

Of those wanting advice about the best mortgage from the whole market (definition: every provider offering mortgages), did the survey give any information about how many received it from advisors who excluded mortgages available direct only?

dunstonh

The information wasnt as detailed on that. It's purpose was to highlight the level of misunderstanding there is due to depolarisation. Plus to highlight that tied agents may not be as truthfull as they ought to be.

Joe_Bloggs

What is polarisation versus depolarisation in this context ?
J_B. (Is multi tie a neckware fashion statement ? (only joking))

EdInvestor

IIRC "polarisation" (not that the word was ever used) described the position before: ie, an advisor was either independent or not independent .

Now we have depolarisation under which an advisor may be independent, not independent, or partially independent.

The classification may be different for each product he sells.

Thus the punter has no idea who he's dealing with.Was this the idea?

Tiggs_2

Joe_Bloggs wrote:

What is polarisation versus depolarisation in this context ?
J_B. (Is multi tie a neckware fashion statement ? (only joking))

polaristion = you are either IFA OR you are tied to a provider (bank, insurance comp, etc)

prob with this is most people got advice from tied agents and that wasnt ideal.......so clever govt scraps the old rules in the hope the tied people will be able to offer a sort of half way house of not really independant but more range than a traditional tied agent...meanwhile they force IFA's to all offer fees.

what this now means is the average person hasnt a clue who they see and dont really care anyway as long as they like them (i know because i have been tied and IFA and my clients dont care one bit)

all in all its just diluted the position of IFA's as there is now a whole load of multi tied advisers suggesting they are almost as good as an IFA.....in fact you have firms like St James Place who must be loving this because they can now promote themsleves as better than an IFA in many ways (prob why their company makes IFA firms look very shoody businesses!)

as an IFA the only thing the new rules have done for my business is make me doubt about my likeyhood of keeping the firm independant when its pretty obvious the govt isnt commited to highlighting that as an ideal.