Keydata bonds may destroy my factory: Successful manufacturer fights to survive investment disaster | Mail Online

Keydata bonds may destroy my factory: Successful manufacturer fights to survive investment disaster | Mail Online

From the Lampott site:

"Richard is an appropriately qualified (by advanced examination) pensions specialist"

The FSA is insisting that "advanced qualifications" be taken by all advisers in order to "raise standards" and "provide better outcomes for consumers".

Mark Hoban likened current adviser qualifications to "the same level as a diploma in shift management offered by McDonald's".

Well Mr Hoban, and Lord Turner, I only have FPC but despite my lowly qualifications I would never have advised this firm to invest even £5 in the Lifemark backed black hole.

Common sense and experience are more valuable than "advanced qualifications", the sooner you realise this the better it will be for the nation, if you look at all the brains at HM Treasury, the BofE and the FSA you can see that all those bright sparks failed spot the banking crises, Equitable et al. A trail of "Collective Intellectual Failure" of gigantic proportions and they get bigger each time!!

Hoban backs RDR move to fees - IFAonline

Hoban backs RDR move to fees - IFAonline

I can see where he is coming from.

But can he see where he is going to?

Yes there are problems with commission, there are also problems with fees, even if the advice was free there would be issues.

The RDR misses the target and the man with the crossbow is using a blindfold.

Top down regulation has failed, is failing and will forever fail.

Until what the consumer needs is the driving force behind regulation the efforts of Mr Hoban and his successors are doomed to failure, unfortunately it is society which pays the price for the failure of their elected representatives.