IFAs cashing in before RDR

bigfreddiel

dunstonh wrote: »

any comment on the information now that you know it is flawed or misrepresented bigfreddiel?

not me guv - i was just quoting the sunday times - if you'd read my previus comment further up

gad tohave cleared that up

fj

dunstonh

not me guv - i was just quoting the sunday times - if you'd read my previus comment further up

Surely you must be disappointed that the figures used in the article were based on flawed research. Using a ratio that did not include platforms in it when platforms get so much business makes the figures recorded useless.

Did the Article actually in the Sunday Times actually say IFAS? The FSA report said it was banks that sold most of them. Not IFAs.

JoeCrystal

Well, I actually bother to find the article on Sunday |Times... I got nothing else to do this late.

The Article in Question

dunstonh

Thanks Joe. I looked the other day but was blocked by their paywall.

I notice from the article that it does not mention IFAs cashing in. It also doenst mention platform arranged business being excluded. It also says there has been a spike in sales but the FSA research shows declines.

Sloppy journalism as it took a few snippets from the FSA report and published them out of context.

Rollinghome

I understand that once bank and insurance salesmen leave to become "independent" they are labotomised so that they no longer have any interest in the commission they'll earn whatsoever and all their former sales training and habits are forgotten.

Whether it's always 100% effective is hard to say.

dunstonh

Some people have no concept of a career path. I guess you would criticise a Michelin star chef because he once worked in McDonalds.

I would love to know what your occupational history is and what you are now. I bet we could tear you to shreds using your own principles.

bigfreddiel

this is from another post that seems to confirm that ifas only recommend products that line their own pockets and not their customers - its from a discussion about its - they dont pay comission so no incentive for an ifa to recommend them.

the comment was:

"IFAs are not yet up to speed on ITs as most recommend funds which pay them commission and ITs do not pay commission. "

guess who had this to say:

dunstonh wrote: »

Unbundling of remuneration takes away that issue.

so there we have it,an ifa revealing that the lack of commission is why its are not on their list of products.

cheers

fj

dunstonh

You have a very strange interpretion of information. Problem is your clear bias spoils what could be very informative discussions.