Thegiconsultant's Weblog

Pensions

thegiconsultant — Wed, 30 Nov 2011 20:17:52 +0000

I’m glad the BBC have explained the paucity of pension provision in the private sector. I don’t think public sector workers realise that their pensions, which are forced on them, but very generously contributed to, are fantastic compared to what people prepare for themselves. Perhaps all should be self-employed and suffer the stress of deciding what to put aside, when they can afford a holiday or to be off sick.

Referral Fees & High Motor Insurance Premiums

thegiconsultant — Fri, 09 Sep 2011 15:51:11 +0000

I predict that banning referral fees will make no difference to the price of fish, or motor insurance. How long has it taken for insurers to jump on the band wagon and then start pilaging from each other. Rediculous. They will claim loss of an income stream now and put premiums up again probably!

The News

thegiconsultant — Mon, 22 Aug 2011 18:37:26 +0000

The Libya thing is important, however, is it the only thig going on? I thought the British press was engaged in illegal phone hacking, the met are being arrested, there is fall out from riots and full prisons and Europe is going bust…. oh, Sir Richard Branson’s holiday home had gone up in smoke with no loss of life… what is going on with the news? I wonder what we are being distracted from!

Question: what have the FSA got…

thegiconsultant — Thu, 11 Aug 2011 16:10:34 +0000

…that the police have not?

Before I answer that, I have to say that I think that if allowed to, a great many people in financial services and insurance would definately like to remonstrate with the FSA over myriad items from rules to fees; but they don’t. They hardly make a muffle. On the other hand, people without anything in particular to protest about have been rioting in what seems to be a very carefree manner. So why is no-one scared of the police, seemingly, and yet a whole industry is petrified of the FSA and dare not even TALK to them never mind PROTEST?

Answer: the FSA have abolsute power [in their field] with NO ACCOUNTABILITY. [As admitted when they were questioned by the TSC].

Fair banking…

thegiconsultant — Mon, 20 Jun 2011 10:39:28 +0000

I read with interest that only a couple of products have passed muster!

Everyone must know the law…

thegiconsultant — Thu, 16 Jun 2011 19:53:21 +0000

Except the regulators. I am vexed by the fact that if you ring the OFT or the FSA and ask them to tell you whether or not something falls within their remit or if you are exempt THEY WILL NOT TELL YOU. The ‘party line’ is that they will not commit to specific advice or guidance, YOU have to go and read all the enactments and make your own decision! This would be OK if said enactments were short and concise and gave clear perameters – needless to say they do not and they are so long that reading and interpreting them may take decades! Agh!

Are we blaming the right people?

thegiconsultant — Sat, 30 Apr 2011 19:02:26 +0000

Data Protection: people who send unsolicited emails get into bother, unless they are spamming you with rediculous and/or obscene rubbish that is. Firms which are hacked get into bother, they are lambasted, the lowest of the low for not keeping customer data secure. Can anyone tell me why we do not have the same vitriol for the spammers and the hackers please?

Fantastic information obtained from…

thegiconsultant — Wed, 30 Mar 2011 10:40:37 +0000

Quite unexpectedly, whilst engaging in insurance chit chat with fellow anoraks I was informed about various insurance schemes available for young drivers which use technology to measure usage and so charge accordingly. This is going to save my son lots of money I hope, I reckon he is paying £100 per day used for his car insurance at the moment, he is stationed abroad you see and so the car just sits there most of the time – I could use it, but then I would have wasted a vast sum of money that I spent on my own car… The source of this really useful information – Linked In! Yes, it’s definately worth a do for such as the above and other professional tips that you might pick up. I am finally, after several years, converted!

Consumers will need QCF4 qualifications next!

thegiconsultant — Sat, 12 Mar 2011 12:58:50 +0000

Consumers are being advised to check the advice that advisers give them! The FSA re-enforces the view that they think all advisers are bent, it seems. So investors will need to be as experienced and knowledgable as advisers so that they can ensure the advice is not biased in order to maximise commissions OR FEES! Yes, fees are being criticised already – a sure sign that the RDR proposals were very well thought through….

Gender

thegiconsultant — Tue, 01 Mar 2011 20:07:20 +0000

The EU ruling about insurance underwriting having to be ‘equal’ is rediculous. I wonder how they are going to get rid of periods, childbirth and urination problems then! I wouldn’t mind, but the discrimination thing is still alive and kicking, especially in golf clubs! What about athletics, rugby and boxing… men and women are different how on earth are they thinking they can change it. Please can someone in the great big lobby that is the insurance sector DO SOMETHING to reinstate common sense!