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Comments
costs
That is an interesting cost anaylsis by the previous contributor. Apart from those costs I do not think the FSA understand the other hourly costs to come off the £130. Eg. travel,office rent, telehone,rates, gas, electricity telephone, IT. stationary, insurance, postage, etc. do I need to go on. before we actually earn a living.
Posted by: terry
Hoursly Cost of Clients of FSA
I agree with this article, but you should take it further. What about the increased cost in preparing for additional qualifications for all advisory staff? This currently could add as much as £20/£30 per hour at least until 2013. Given the leaked article on how Barclays advisors are alleged to be trained to treat customers as "conquests", this in one example demonstrates what a waste of time , effort and money RDR actually is.
Posted by: Ross Perry
How much time?
No disrespect intended, but I am glad he has time to work out all those figures to that degree! I prefer to get out and earn enough to cover it all!! :-)
Posted by: jag58
Balloons
If it were announced that all IFA's are to be executed and will be given the choice of hanging or beheading. There are still a few balloons in this industry who will quote the old mantra 'this is a great opportunity for IFA's. With respect jag58 sounds like one such balloon. What in effect he is saying 'no matter how much cost or injustice are heaped on the IFA community he will just get out there and pass it on to the client'. It is sadly just such apathy that has allowed the FSA to run amok without any consideration of how much cost they generate for the client as long as they line their own pockets. The writer of this article is perfectly correct in bringing attention to such spiraling out of control costs.
Posted by: David McMeekin
Transparency
As the FSA are striving for transparency and factory gate pricing for the Public good. Should the cost of compliance be a readily available figure and included in all compliant Illustrations as part of disclosure. I think £20.00 an hour is a modest assessment.
Posted by: Dave Bettley