At last, 助言者s 閉めだした from （売買）手数料，委託（する）／委員会／権限 sales

By STEPHEN WOMACK, MAIL ON SUNDAY PERSONAL FINANCE CORRESPONDENT
Updated: 22:14 BST, 4 July 2009

The days of greedy 助言者s pocketing 抱擁する （売買）手数料，委託（する）／委員会／権限s by selling unsuitable 投資s are coming to an end. Such 支払い（額）s are to be banned in the biggest 精密検査する of 財政上の advice for more than two １０年間s. 財政上の Mail explains the 提案するd changes:

What is happening?

The 財政上の Services 当局 wants to give 消費者s more 信用／信任 in the advice 過程 by splitting 助言者s into two groups.

Anyone wanting to class themselves as an 独立した・無所属 助言者 will have to select 製品s from the entire 財政上の market-place, while a new class of 助言者 called 制限するd 助言者s will sell 製品s from one or a 限られた／立憲的な number of companies.

There will also be a simpler 'basic advice' 過程 that can be used to sell low-cost stakeholder 年金s and 投資s.

The biggest change is that 助言者s will be paid only by 料金s agreed with （弁護士の）依頼人s, rather than by （売買）手数料，委託（する）／委員会／権限 paid for by a 製品 provider.

緊急の: The FSA says 'systematic mis-selling' of endowments and 年金s, driven by high （売買）手数料，委託（する）／委員会／権限s, has cost 消費者s £14.5billion over 20 years

Why is the FSA doing this?

It hopes 消費者s will 結局最後にはーなる with 製品s they need, rather than those 投資s that 証明する most lucrative for 助言者s to sell.

It says 'systematic mis-selling' of endowments and 年金s, driven by high （売買）手数料，委託（する）／委員会／権限s, has cost 消費者s £14.5 billion over 20 years.

Under the 現在の system, 助言者s can earn £9,000 for telling a 顧客 to put £100,000 into a life 保険 社債.

In the 未来 they will 告発（する），告訴（する）／料金 hourly 料金s like solicitors or accountants so that 顧客s can see 正確に／まさに what they are 支払う／賃金ing for.

What 製品s are covered?

Personal 年金s, annuities, life 保険 and associated 計画（する）s such as 批判的な illness are all covered.

Most 一括d 投資s such as Isas, 部隊 信用s or 投資 信用 貯金 計画（する）s are 含むd too.

But some 製品s that 支払う／賃金 （売買）手数料，委託（する）／委員会／権限 to 仲買人s, such as モーター or 世帯 保険, are not.

So is this an end to （売買）手数料，委託（する）／委員会／権限?

In practice, many （弁護士の）依頼人s will be unable to 支払う／賃金 hundreds of 続けざまに猛撃するs in upfront 料金s. Instead they will authorise their 助言者 to take the 支払い（額） in instalments out of the money they 投資する.

This may seem like （売買）手数料，委託（する）／委員会／権限, but 支払い（額）s will be agreed in 前進する and other 支配するs will stop 製品 providers 申し込む／申し出ing 誘導s to 助言者s to put 商売／仕事 their way.

What about 助言者s at banks?

Typically, banks 雇う 助言者s and create the 製品s which those 助言者s sell, so the bank earns no （売買）手数料，委託（する）／委員会／権限. But the way that some banks reward their sales teams has led to mis-selling, with 顧客s 鉄道／強行採決するd into 投資s that give their staff the best chance of a 特別手当.

To 取り組む this, the FSA has 始める，決める out a code of practice covering individual

助言者s' 支払う／賃金. It is 協議するing on whether その上の 支配するs are needed.

What else is 提案するd?

All 助言者s will have to be better qualified. There will be a new 最小限 基準 概して 同等（の） to the first year of a university course, with those already in the 産業 taking '最高の，を越す-up' exams.

The FSA is also keen to 設立する a Professional 基準s Board to 監督する 資格s and professional behaviour.

When is all this happening?

The FSA wants the new 政権 in 軍隊 by the end of 2012. In the 合間, 消費者s can take their own steps to 確実にする they get good advice (see below).

Start now: 支払う／賃金 a 料金

There is no need to wait until 2012 for good advice. Many 独立した・無所属 財政上の 助言者s have already moved away from （売買）手数料，委託（する）／委員会／権限 in favour of upfront 料金s.

The 解放する／自由な 'find an 助言者' service 供給するd by 貿易（する） 団体／死体 IFA 昇進／宣伝 at unbiased.co.uk 許すs you to search for 料金-非難する 助言者s. Some give the 選択 of 支払う／賃金ing a 月毎の retainer, 供給するing a 始める，決める menu of services for a 始める，決める 料金.

Those 捜し出すing help with all 面s of their 財政／金融s can 調印する up with a Certified 財政上の Planner, who takes a wider 見解（をとる）, 演説（する）／住所ing your income and spending and helping to 始める，決める longterm goals. For more 詳細（に述べる）s go to financialplanning.org.uk.?

貯金 made a small fortune...for 仲買人s

Mis-sale: Patience Lacy-Smith did not want risky 投資s

For examples of big （売買）手数料，委託（する）／委員会／権限s earnt by '助言者s' for rotten advice you need look no その上の than the UK's biggest 'wealth 経営者／支配人', St James's Place.

In 2006, 離婚 Patience Lacy-Smith, in her 60s, relied on an 知識 - who also happened to be a SJP saleswoman - to select 投資s on her に代わって. The 投資s were risky, even though Patience had made （疑いを）晴らす she did n ot want to jeopardise her 資本／首都.

Patience, from Minehead in Somerset, became 苦しめるd after losses 機動力のある and she complained. At first SJP 主張するd 'no advice' had been given, にもかかわらず （売買）手数料，委託（する）／委員会／権限 of more than £6,000 存在 paid to the saleswoman. After 財政上の Mail 最高潮の場面d Patience's story in March this year, SJP 申し込む／申し出d her a sixfigure 解決／入植地.

Ten days ago it 現れるd that another SJP （弁護士の）依頼人, 76-year-old Molly Richards from Bridgend, in 中央の-Glamorgan, was 申し込む／申し出d a 類似の sum --thought to be £95,000 - by SJP to settle a 近づく-同一の 論争. Molly had been 説得するd by an SJP salesman to put her 貯金 into risky 投資s when she had said she was riskaverse. The salesmen stood to earn £9,000 in （売買）手数料，委託（する）／委員会／権限. The 事例／患者 was 明らかにするd by 財政上の Mail's sister website thisismoney.co.uk.

SJP is now part-owned by taxpayers as its biggest 株主 was HBOS, one of the banks that had to be 救助（する）d.

SJP salesmen call themselves 'partners', though they are not partners in any technical sense. They can sell only a 制限するd 範囲 of 投資s, but （売買）手数料，委託（する）／委員会／権限 can earn successful 'partners' hundreds of thousands of 続けざまに猛撃するs a year.

SJP director David Lamb says he does not believe that （売買）手数料，委託（する）／委員会／権限 支払う／賃金d a part in Patience's or Molly's 事例／患者s. He says: 'The （売買）手数料，委託（する）／委員会／権限 paid is 意味ありげに lower than どこかよそで in the market.' He says that for a 会社／堅い of SJP's size, （民事の）告訴s are 極端に rare.