This week’s comment came under the feature article: Lenders should improve withdrawal process and work with brokers – Simpson
Albert Lyons said: “Whilst I agree it puts brokers and our clients in a difficult position, are you really expecting lenders to ‘take orders’ via their business development managers (BDMs) to allow us to book funds on products that have actually become loss leaders?
“Would you sell products at a loss and then continue to do so because advisers need more time? You state ‘it is safe to say there is full understanding of the need to withdraw and increase rates, we also all appreciate that things move quickly and so therefore must the lender’.
“If there is a full understanding of why this is happening, then I’m not sure you have a point.”