Keydata

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Published by Editor on 09-02-2012 Register to comment Print

by Charlie Palmer, Chief Executive

I recently met some bigwig at a rival network, who charge three times the price for a very similar service as we provide. He ran the research department, and was very proud to have blacklisted Keydata well before the trouble erupted and the liquidity and assets in the fund dried up like a mirage in the Gobi desert.

They blacklisted the product, and as a result there are some very happy IFAs.

I have wanted to run a regular blacklist for years, but I get nervous when I see the lawsuits that follow my 'gut-feel-that-translates-into-allegations' that the accounts don’t stack up. This network received a stream of complaints at the time from ‘disgusted of wherever’ who wanted to use these funds.

We don’t always get it right and we do make mistakes. But we are committed to making our process the best in the industry, and – remember this - we want to reduce the risks that you face. No AR-IFA ever got fined or banned by the Regulator.

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Evan Owen's picture

Evan Owen

11-02-2012

Not officially Charlie but they have been refused to join other 'sponsoring firms' or become directly authorised when their previous firm made a hash of it. ARs cannot be pursued the FSA, the FOS or the FSCS for one simple reason, ARs are exempt from authorisation.

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