Industry should prepare better for bear conditions

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As high profile intermediary firms such as RJ Temple, Aaron Partnership and Towry Law look to solve ...

As high profile intermediary firms such as RJ Temple, Aaron Partnership and Towry Law look to solve their financial difficulties they should remember what is best for them is not necessarily best for everyone else. Last week Peter Hargreaves wrote in this paper that where intermediary firms go into administration the burden should not fall solely on the Financial Services Compensation Scheme, the bust IFAs should bear some of the financial cost. This week, on this page, David Norton points out that another side effect is to create higher PI premiums for the whole industry. But there is ano...