You are here: Home > Media > Press releases > ‘PEOPLE MUST KNOW HOW TO IDENTIFY TYPES OF ADVICE – THIS IS THE TRUE TEST OF SUCCESS FOR FSA PROPOSALS’, SAYS IFA PROMOTION

• Print Page

‘PEOPLE MUST KNOW HOW TO IDENTIFY TYPES OF ADVICE – THIS IS THE TRUE TEST OF SUCCESS FOR FSA PROPOSALS’, SAYS IFA PROMOTION

 

Responding to the publication today of CP166 the FSAs draft depolarisation rules - David Elms, Chief Executive of IFA Promotion, commented:

 

The FSA has acknowledged the key issue for depolarisation, which is avoiding consumer confusion between types of advice it aims to tackle this through enhanced status disclosure and consumer education.  Whilst clarity of disclosure documents is vital, these are simply pieces of paper which can easily be overlooked people need to know how to tell the difference between types of advice, and this will be the true test of success for the FSAs proposals.

 

IFA Promotion has had considerable experience and success in running high-profile consumer awareness campaigns in the financial services field once again we will be offering the FSA all possible assistance in devising and implementing a workable, far-reaching and effective educational programme.

-ends-

 

For further information, please contact:

 

David Elms, CEO                                  Richard Winder/ Ian Williams

IFA Promotion                                        Lansons Communications

020 7833 3131                                      020 7294 3641

david@ifap.org                                      richardw@lansons.com

 

1.  Independent Financial Adviser Promotion

 

IFA Promotion was established in 1989 to promote the value and accessibility of independent financial advice to the public.  It represents over 10,000 firms of independent financial advisers across the UK and is sponsored by 28 leading financial institutions. In 2002, over 300,000 consumers and businesses used IFA Promotion to find local independent financial advice.

 

IFA Promotions believes Independent financial advice should be:

 

        Affordable.  The option to take independent financial advice should be available, by right, to all - not just the wealthiest in society.

 

        Convenient.  IFAs should be available in the location of the consumers choice, wherever they live in the UK.

 

        Transparent.  It must be clearly transparent to consumers who is able to offer independent financial advice and who is not.

 

 

2.                           Independent Financial Adviser Promotions sponsors

 

AMP NPI	Old Mutual Asset Managers
AXA	Prudential
Barclays Global Investors Funds	Scottish Equitable Plc
Bright Grey	Scottish Life
BUPA	Scottish Mutual Assurance Plc
Canada Life	Scottish Provident
Clerical Medical Investment Group	Scottish Widows Plc
Eagle Star	Selestia
Friends Provident	Standard Life Assurance Company
GE Life	Swiss Life (UK) Plc
INVESCO Fund Managers Ltd	Skandia UK Group
Legal & General	The Childrens Mutual
National Savings & Investments	Winterthur Life UK Ltd
Norwich Union Life	Zurich Life Assurance Company