Articles - AIFA responds to simplified advice consultation


 The Association of Independent Financial Advisers (AIFA) has today responded to the Financial Services Authority's (FSA) consultation on simplified advice.

 Stephen Gay, Director General of AIFA, said:

 "FSA is absolutely right to recognise that advice that is limited in its range of products should be treated in the same way as other forms of advice and be required to meet the same professional standards. Whatever the scope of advice it should be delivered by someone of appropriate and consistent qualifications and with transparency of proposition and price to the customer.

 "Our concern with simplified advice was that it would be designed in such a way that competitively disadvantages the full advice capabilities the advice profession has as its proposition. We therefore welcome the clarity in this consultation.

 "Consumers should be offered the same level of protection by knowing they are dealing with qualified individuals, have recourse to complain against the advice they receive and are made aware of the charges they will have to pay for the advice.

 "This guidance will help provide greater certainty for firms who are considering their offering to consumers."

Back to Index


Similar News to this Story

A question of surplus
Stronger funding positions and the Government's proposed surplus reforms mean more trustee boards and sponsors are thinking about a question that
Infectious disease and what COVID19 revealed in insurability
COVID-19 revealed the systemic nature of pandemic risk, exposing gaps in insurability and showing why foresight must translate into sustained prepared
Insuring an income in retirement
You don’t need to work in insurance to appreciate its value. Most of us will take out insurance over our lifetime to provide compensation for when bad

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.