The week in 108 seconds

You're the most-complained-about IFA in the sector, officially. So, what do you do next? Find out in our quick-fire round up of the week's big stories...

Monday

Warnings galore to start the week. A third of IFA firms are making an "unsustainable" loss because they are reluctant to pass on ever-increasing costs to customers, according to research by Plimsoll.

For those who are staying afloat, ETFs and SIPPs have been earmarked as ‘emerging risks' by the newly set-up Coordination Committee (CC) which unites the FSA, OFT and FOS.

Tuesday

Neil Woodford, Invesco Perpetual's star income fund manager, only speaks to the press once every six months, but when he does...

He warned George Osborne's UK growth forecasts are too optimistic and expects growth to remain lower for longer and said BP and Shell are not attractive even with oil prices at record highs.

Wednesday

It was all about complaints mid-week. FSA figures showed Towry upheld 97% of its clients' asset transfer complaints in the second half of last year. Barclays and the life companies also had their fair share.

On the plus side, the financial Ombudsman (FOS) froze the fee it charges firms to deal with complaints at £500 for the second year running.

That was little comfort to Meteor Asset Management, however. The firm has refused to abide by a FOS order to return £15,000 to investors who lost money in its Lehman-backed plans, and could challenge the ruling in a judicial review.

Thursday

Details of the much-feted Junior ISA (the JISA?) were revealed. And what wasn't to like: A maximum annual allowance of £3,000, the ability to invest in stocks and shares as well as via a cash deposit. Question is: are your kids worth as much as £250 a month? Mine are worth about £70. Ok, £80.

Elsewhere, Towry, a day after being named the most-complained-about IFA in the sector, gave a lecture (ahem, talk) on training and competence, and one IFA revealed the peculiar inspiration behind his firm's drive to be RDR-compliant.

Friday (that's today)

Poor old Jim Reeve. The CEO of Positive Solutions may be the nicest, most up-standing gent in the industry, but a bit of a PR boo-boo led to a number of advisers provisionally resigning from the company. HERE'S why.

Elsewhere, in what was definitely NOT an April Fool's joke, it was revealed FSA chief exec Hector Sants and Treasury financial secretary Mark Hoban will spend a day with Sussex-based Money Honey. They want to "better understand" the industry, apparently. All we want to "better understand" is why Nick Cann is THE default candidate for an April Fool's story. 'Cos he's lovely we guess.