Sales Pressure

How many articles have we seen in recent weeks castigating banks for the pressure they put on front of house staff to sell. Can anyone reasonably call the action taken out of necessity by Positive Solutions anything other than sales pressure. The truth is, we have regulation costs increasing expotentially.A compensation body who will charge IFA's in order to remove embarrassments like Keydata from their own desk rather than refer it back to the guilty at the FSA.We also have a complete industry of service functions that continues to grow because of regulation. These various bodies all have their fixed costs and salaries which they demand up front. Would anyone ever envisage a day when any of these regulator or service functions would accept their income on a non-indemnity basis as a percentage of business which may or may not be written. No matter what way you dress it up, it is all these costs that produce the sales pressure regardless of who applies it to those at the end of the food chain.

Posted by: David McMeekin

Commission deals getting worse, not ours

Having just read the news regarding Positive Solutions and the comment that the industry is generally making the deals for the IFA members worse, I am delighted to say that here at Orchard House (IFAs) Ltd we have just improved our offering to our IFAs. We have increased the percentages available, removed any monthly fees and have no reserves on commission. This appears to be bucking the trend, but for the right quality, moral and ethical consultant this is what we feel to be the way forward.

Posted by: Mike Shepherd

Comment or Advertisement

Mike I am not sure if you were making a comment or trying for some cheap advertising. Do remember it is very easy to improve on an offer if it was lousy in the first place. You may recruit a squad of angels but they will still be under sales pressure to make a living for themselves and pay not only the increasing burden of regulation but the increasing injustice in the application of compensation levies.

Posted by: David McMeekin

Another comment on advertising

Mike Sorry but I agree with David on this one. It costs money to run a business compliantly and effectivly and you need adequate systems and controls. You comments are not just cheap advertising they are also dangerous. I have had a look at your website and I may be wrong but it looks as though none of you or your co workers are even at level 4 let alone 6

Posted by: David_c