Partnership and Openwork are under fire for their single tie from a host of industry figures. The critics dismiss the promise that the rates won’t fall out of the top five and suggest it would need to be top three. There is one interesting historical point to note. If I remember correctly the old Allied Dunbar salesforce – from which Openwork eventually emerged - used to talk up being able to offer the open market option. They believed it was often the way to win work advising clients in other ways. How times have changed. Are retiring people simply getting poorer or did they turn away lower value clients in the old days?
Also a few others things from me with two from FundsNetwork. In back to a saving and investing culture I think at some time policymakers are going to have to assess the impact of a host of factors including the financial crisis but also the RDR, and consider pro saving policy changes. In a previous column, I consider whether the Government might consider a referendum on full pension compulsion.
Here on Adviser Home is this week’s splendid trade news round up.