Excess baggage

While brokers and IFAs can make uneasy bedfellows, Rachel Gordon weighs up the pros and cons of brokers offering a one-stop-shop service to clients and how this may be affected by regulation

Offering clients the complete package, whether they want commercial cover, a motor policy or a pension, appears to be a sound business model.

The broker has control over the account, can defend against poaching and earns maximum revenue.

However, financial services come with a sting in the tail. Some have been caught out over pensions mis-selling and, in the case of an acquired business, have even had to pay out compensation for cases in which they were not involved.

And there are other potential