Adviser concern over MAS links to tied agent

clock

Advisers have expressed concerns about a new annuity comparison tool on the Money Advice Service (MAS) which links to the Saga Annuity Service, a tied agent.

The service has recently been overhauling its website, and, whereas previously it had an annuity comparison table, the new tool links more directly to sales. One of the companies listed offering an annuity is Saga, although it is not made clear that the firm is in fact a tied agent, only selling Legal & General products. Brian Hill, managing director at Jones Hill, said: "They're sending consumers into the lion's den to be at the mercy of tied advisers. It's completely bang out of order. "We're funding our competitors here and that is absolutely disgraceful." Another concern abo...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Technology

'Get started now': Putting AI to work in financial advice firms

'Get started now': Putting AI to work in financial advice firms

'Dive in so you can learn and grow together'

Stu Breyer
clock 24 April 2024 • 4 min read
Utilising clean data to power business decision-making

Utilising clean data to power business decision-making

In 2023 120 zettabytes of data was transacted globally

Abhishek Vethanayagam
clock 24 April 2024 • 3 min read
Woven Advice closes SEIS fundraising for data management solutions

Woven Advice closes SEIS fundraising for data management solutions

‘Advisers are held back by the quality of their data and their inability to fix it’

Hope Coumbe
clock 23 April 2024 • 1 min read