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22 Mar 2011
A LOOPHOLE that affords advisers authorised through accountants the privilege of a five-year deadline for complaints has been criticised by an independent financial adviser.
Keith Williams, former IFA with Positive Solutions, revealed one of his clients raised a grievance about a pension switch suggested by another financial consultant ten years ago, New Model Adviser reports.
The Financial Services Authority directed the aggrieved to the IFA's regulator, the Association of Chartered Certified Accountants.
But the body threw out the claim, citing the five-year long-stop protection for its members and leaving the pension holder out in the cold.
Williams blames the FSA for allowing the loophole to slip through the cracks, but the body has refused to comment.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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