Proof that the government wants to do away with IFAs

From Dave King

I took Friday off last week and returned to more bad news from a government agency which I take as proof positive that the government, the FSA and all other interested parties are using all means possible to exterminate IFAs.

I have a civil service client whose mortgage I am arranging. He and his family are moving from Brighton to Folkestone. He is being allowed to claim associated costs with this move including legal fees, removal expenses and estate agency fees.

But when I submitted my invoice to him for 195 for arranging the mortgage for onward transmission to his accounts department along with his expenses claim, his accounts department returned and deducted it saying, “We are not able to reimburse any fees or costs associated with financial advisers” (sic).

So we’ll just not bother that I am an independent financial adviser trying to obtain the best deal I can for my client using the necessary software and regulatory procedures and assistants’ time associated with all that, shall we?

Correct me if I’m wrong but isn’t the government trying to move towards a more professional, fee charging industry?

Never mind, I hope the jobsworth involved has a happy financial review with the spotty ‘adviser’ from the FSCS.